Alma USDA Loan Rates, Closing Costs & Stats

Alma, MI

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    • USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

    Alma's 10 lenders originated 21 USDA loans during 2023. The total origination value was $3,065,000, with an average USDA loan value of $145,952.

    Alma USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Alma averaged 6.81% for the week of 2024-11-08, compared to the national average (all USDA variants) of 6.477% for the same period.

    Alma's average USDA mortgage closing costs are $4,149.

    The average rate for the prior week (2024-11-01) was 6.38% and one month ago for the week of 2024-10-04, the average rate was 6.01%.

    The average rate one year ago was 7.75%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.48%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Alma USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Alma level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Preston Home Loans Inc 6 7.27% $6,330
    CROSSCOUNTRY MORTGAGE, LLC 6 6.82% $5,367
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.63% $7,374
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.99% $1,863
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.38% $4,620
    Neighborhood Loans, Inc. 1 6.13% $6,522
    ACADEMY MORTGAGE CORPORATION 1 7.75% $6,326
    TOP FLITE FINANCIAL, INC. 1 6.75% $10,269
    BLG HOLDINGS, INC. 1 7.75% $7,923
    BM Real Estate Services, Inc. 1 7.25% $4,917

    The top Alma USDA lender as defined by loan originations is Preston Home Loans Inc, with 6 USDA loans originated. Their average total fees are $6,330, which is $963 higher than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee Alma USDA lenders (with over 10 loans originated) are .

    The lowest rate Alma USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Alma (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $87,400 (-12.5%) $112,982 (-10.1%) 0.00 135
    2018-02-01 $84,675 (-15.2%) $114,882 (-6.0%) 0.00 132
    2018-03-01 $82,450 (-17.4%) $115,176 (-9.6%) 0.00 141
    2018-04-01 $84,450 (-16.8%) $115,644 (-10.4%) 0.00 141
    2018-05-01 $89,075 (-10.8%) $126,365 (-1.7%) 0.00 146
    2018-06-01 $94,900 (-3.7%) $135,945 (5.6%) 0.00 153
    2018-07-01 $97,175 (-1.8%) $134,250 (4.3%) 0.00 163
    2018-08-01 $105,000 (5.1%) $145,598 (12.3%) 0.00 161
    2018-09-01 $105,000 (3.5%) $143,891 (10.7%) 0.00 154
    2018-10-01 $102,450 (2.6%) $145,120 (14.1%) 0.00 156
    2018-11-01 $97,125 (6.2%) $133,685 (9.5%) 0.00 154
    2018-12-01 $88,900 (-1.1%) $126,798 (10.5%) 0.00 146
    2019-01-01 $88,800 (1.6%) $127,448 (12.8%) 0.00 136
    2019-02-01 $87,450 (3.3%) $127,097 (10.6%) 0.00 130
    2019-03-01 $89,386 (8.4%) $122,859 (6.7%) 0.00 128
    2019-04-01 $96,900 (14.7%) $128,434 (11.1%) 0.00 133
    2019-05-01 $98,100 (10.1%) $131,239 (3.9%) 0.00 129
    2019-06-01 $99,900 (5.3%) $136,844 (0.7%) 0.00 135
    2019-07-01 $99,900 (2.8%) $130,959 (-2.5%) 0.00 132
    2019-08-01 $108,518 (3.4%) $131,768 (-9.5%) 0.00 129
    2019-09-01 $109,295 (4.1%) $128,884 (-10.4%) 0.00 130
    2019-10-01 $112,663 (10.0%) $129,346 (-10.9%) 0.00 118
    2019-11-01 $107,400 (10.6%) $130,701 (-2.2%) 0.00 91
    2019-12-01 $134,975 (51.8%) $143,449 (13.1%) 0.00 81
    2020-01-01 $119,900 (35.0%) $134,833 (5.8%) 0.00 79
    2020-02-01 $119,900 (37.1%) $133,035 (4.7%) 0.00 81
    2020-03-01 $110,700 (23.9%) $134,974 (9.9%) 0.00 72
    2020-04-01 $119,900 (23.7%) $141,375 (10.1%) 0.00 66
    2020-05-01 $114,900 (17.1%) $141,888 (8.1%) 0.00 66
    2020-06-01 $146,175 (46.3%) $158,947 (16.2%) 0.00 57
    2020-07-01 $136,850 (37.0%) $165,997 (26.8%) 0.00 58
    2020-08-01 $119,900 (10.5%) $153,905 (16.8%) 0.00 63
    2020-09-01 $129,900 (18.9%) $181,538 (40.9%) 0.00 55
    2020-10-01 $129,900 (15.3%) $178,078 (37.7%) 0.00 60
    2020-11-01 $127,600 (18.8%) $170,360 (30.3%) 0.00 66
    2020-12-01 $124,900 (-7.5%) $171,917 (19.9%) 0.00 61
    2021-01-01 $124,900 (4.2%) $163,026 (20.9%) 0.00 54
    2021-02-01 $124,900 (4.2%) $174,144 (30.9%) 0.00 35
    2021-03-01 $131,200 (18.5%) $191,583 (41.9%) 0.00 35
    2021-04-01 $133,950 (11.7%) $189,522 (34.1%) 0.00 30
    2021-05-01 $149,900 (30.5%) $195,946 (38.1%) 0.00 35
    2021-06-01 $176,400 (20.7%) $198,816 (25.1%) 0.00 43
    2021-07-01 $162,400 (18.7%) $200,908 (21.0%) 0.00 52
    2021-08-01 $161,250 (34.5%) $200,269 (30.1%) 0.00 65
    2021-09-01 $141,800 (9.2%) $190,094 (4.7%) 0.00 74
    2021-10-01 $134,950 (3.9%) $186,481 (4.7%) 0.00 72
    2021-11-01 $129,575 (1.6%) $177,121 (4.0%) 0.00 62
    2021-12-01 $135,175 (8.2%) $192,178 (11.8%) 0.00 48
    2022-01-01 $169,000 (35.3%) $219,647 (34.7%) 0.00 43
    2022-02-01 $147,500 (18.1%) $204,086 (17.2%) 0.00 35
    2022-03-01 $165,925 (26.5%) $218,142 (13.9%) 0.00 33
    2022-04-01 $149,900 (11.9%) $193,808 (2.3%) 0.00 45
    2022-05-01 $159,875 (6.7%) $207,162 (5.7%) 0.00 51
    2022-06-01 $164,925 (-6.5%) $227,682 (14.5%) 0.00 53
    2022-07-01 $179,900 (10.8%) $246,127 (22.5%) 0.00 60
    2022-08-01 $182,450 (13.2%) $245,149 (22.4%) 0.00 71
    2022-09-01 $167,200 (17.9%) $227,328 (19.6%) 0.00 76
    2022-10-01 $167,000 (23.8%) $224,329 (20.3%) 0.00 78
    2022-11-01 $169,925 (31.1%) $222,608 (25.7%) 0.00 87
    2022-12-01 $155,500 (15.0%) $206,296 (7.4%) 0.00 73
    2023-01-01 $149,675 (-11.4%) $214,139 (-2.5%) 0.00 62
    2023-02-01 $160,000 (8.5%) $218,497 (7.1%) 0.00 46
    2023-03-01 $170,675 (2.9%) $226,207 (3.7%) 0.00 42
    2023-04-01 $169,850 (13.3%) $215,092 (11.0%) 0.00 33
    2023-05-01 $219,475 (37.3%) $256,208 (23.7%) 0.00 35
    2023-06-01 $210,975 (27.9%) $264,729 (16.3%) 0.00 35
    2023-07-01 $199,000 (10.6%) $259,304 (5.4%) 0.00 41
    2023-08-01 $185,950 (1.9%) $242,994 (-0.9%) 0.00 49
    2023-09-01 $182,000 (8.9%) $228,094 (0.3%) 0.00 48
    2023-10-01 $184,000 (10.2%) $219,045 (-2.4%) 0.00 58
    2023-11-01 $183,000 (7.7%) $226,233 (1.6%) 0.00 68
    2023-12-01 $179,000 (15.1%) $220,125 (6.7%) 0.00 53
    2024-01-01 $177,800 (18.8%) $222,336 (3.8%) 0.00 45
    2024-02-01 $169,500 (5.9%) $215,988 (-1.2%) 0.00 46
    2024-03-01 $180,000 (5.5%) $230,466 (1.9%) 0.00 48
    2024-04-01 $179,950 (6.0%) $220,791 (2.7%) 0.00 53
    2024-05-01 $179,725 (-18.1%) $221,905 (-13.4%) 0.00 48
    2024-06-01 $189,900 (-10.0%) $231,321 (-12.6%) 0.00 54
    2024-07-01 $224,950 (13.0%) $238,488 (-8.0%) 0.00 54
    2024-08-01 $252,450 (35.8%) $250,136 (2.9%) 0.00 66
    2024-09-01 $229,575 (26.1%) $249,060 (9.2%) 0.00 77
    2024-10-01 $223,225 (21.3%) $242,909 (10.9%) 0.00 75
    Alma's median listing price for 2024-10-01 was $223,225, a difference of $39,225 (21.3%) versus the prior year and $-6,350 versus the prior month.

    Alma's median listing price comes in at 0% of the national average.

    Alma's average listing price for 2024-10-01 was $242,909, a difference of $23,864 (10.9%) versus the prior year and $-6,151 versus the prior month.

    For the 2024-10-01 period, Alma had 75 MLS listings, a difference of -2 listings (-3%) versus the prior month and 17 listings (29%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Alma (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,523 sqft
    2018-02-01 0 days 1,512 sqft
    2018-03-01 0 days 1,460 sqft
    2018-04-01 0 days 1,454 sqft
    2018-05-01 0 days 1,479 sqft
    2018-06-01 0 days 1,506 sqft
    2018-07-01 0 days 1,546 sqft
    2018-08-01 0 days 1,562 sqft
    2018-09-01 0 days 1,557 sqft
    2018-10-01 0 days 1,579 sqft
    2018-11-01 0 days 1,500 sqft
    2018-12-01 0 days 1,450 sqft
    2019-01-01 0 days 1,450 sqft
    2019-02-01 0 days 1,473 sqft
    2019-03-01 0 days 1,471 sqft
    2019-04-01 0 days 1,499 sqft
    2019-05-01 0 days 1,507 sqft
    2019-06-01 0 days 1,612 sqft
    2019-07-01 0 days 1,600 sqft
    2019-08-01 0 days 1,568 sqft
    2019-09-01 0 days 1,558 sqft
    2019-10-01 0 days 1,579 sqft
    2019-11-01 0 days 1,600 sqft
    2019-12-01 0 days 1,760 sqft
    2020-01-01 0 days 1,736 sqft
    2020-02-01 0 days 1,702 sqft
    2020-03-01 0 days 1,576 sqft
    2020-04-01 0 days 1,653 sqft
    2020-05-01 0 days 1,569 sqft
    2020-06-01 0 days 1,775 sqft
    2020-07-01 0 days 1,703 sqft
    2020-08-01 0 days 1,680 sqft
    2020-09-01 0 days 1,708 sqft
    2020-10-01 0 days 1,660 sqft
    2020-11-01 0 days 1,653 sqft
    2020-12-01 0 days 1,600 sqft
    2021-01-01 0 days 1,570 sqft
    2021-02-01 0 days 1,511 sqft
    2021-03-01 0 days 1,509 sqft
    2021-04-01 0 days 1,593 sqft
    2021-05-01 0 days 1,726 sqft
    2021-06-01 0 days 1,728 sqft
    2021-07-01 0 days 1,749 sqft
    2021-08-01 0 days 1,590 sqft
    2021-09-01 0 days 1,536 sqft
    2021-10-01 0 days 1,552 sqft
    2021-11-01 0 days 1,458 sqft
    2021-12-01 0 days 1,458 sqft
    2022-01-01 0 days 1,633 sqft
    2022-02-01 0 days 1,566 sqft
    2022-03-01 0 days 1,601 sqft
    2022-04-01 0 days 1,604 sqft
    2022-05-01 0 days 1,642 sqft
    2022-06-01 0 days 1,657 sqft
    2022-07-01 0 days 1,681 sqft
    2022-08-01 0 days 1,708 sqft
    2022-09-01 0 days 1,654 sqft
    2022-10-01 0 days 1,669 sqft
    2022-11-01 0 days 1,716 sqft
    2022-12-01 0 days 1,653 sqft
    2023-01-01 0 days 1,612 sqft
    2023-02-01 0 days 1,614 sqft
    2023-03-01 0 days 1,477 sqft
    2023-04-01 0 days 1,573 sqft
    2023-05-01 0 days 1,805 sqft
    2023-06-01 0 days 1,853 sqft
    2023-07-01 0 days 1,878 sqft
    2023-08-01 0 days 1,771 sqft
    2023-09-01 0 days 1,690 sqft
    2023-10-01 0 days 1,758 sqft
    2023-11-01 0 days 1,844 sqft
    2023-12-01 0 days 1,860 sqft
    2024-01-01 0 days 1,791 sqft
    2024-02-01 0 days 1,752 sqft
    2024-03-01 0 days 1,755 sqft
    2024-04-01 0 days 1,622 sqft
    2024-05-01 0 days 1,759 sqft
    2024-06-01 0 days 1,788 sqft
    2024-07-01 0 days 1,792 sqft
    2024-08-01 0 days 1,798 sqft
    2024-09-01 0 days 1,778 sqft
    2024-10-01 0 days 1,809 sqft
    Alma's median listing age (time on market) for 2024-10-01 was 0 days.

    Alma's median square footage for active listings during the 2024-10-01 period was 1,809 sqft. One year prior, the average listing was 1,758 sqft.