Alma USDA Loan Rates, Closing Costs & Stats

Alma, MI

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 15 lenders originated 26 USDA loans during 2024. The total origination value was $3,830,000, with an average USDA loan value of $147,308.

Alma USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Alma averaged 6.73% for the week of 2025-07-18, compared to the national average (all USDA variants) of 6.472% for the same period.

Alma's average USDA mortgage closing costs are $4,315.

The average rate for the prior week (2025-07-11) was 6.51% and one month ago for the week of 2025-06-13, the average rate was 6.66%.

The average rate one year ago was 6.81%.

For refis of the same type during the week of 2025-07-18, the average rate was 6.27%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
Preston Home Loans Inc 4 7.00% $6,264
UNION HOME MORTGAGE CORP. 3 6.96% $7,210
CROSSCOUNTRY MORTGAGE, LLC 2 6.69% $7,942
DAS Acquisition Company, LLC 2 6.37% $6,518
J. VIRGIL, INC. 2 6.69% $7,134
UNITED WHOLESALE MORTGAGE, LLC 2 6.50% $5,044
NEWREZ LLC 1 6.75% $3,930
PLAZA HOME MORTGAGE, INC. 1 7.25% $1,443
TOWNE MORTGAGE COMPANY 1 7.13% $6,450
MMS MORTGAGE SERVICES, LTD. 1 7.25% $1,443
Fifth Third Bank 1 6.50% $4,588
GUILD MORTGAGE COMPANY 1 6.13% $7,949
Mercantile Bank of Michigan 1 6.25% $4,236
AMERICAN FINANCIAL RESOURCES, INC. 1 7.75% $4,964
MORTGAGE 1 INCORPORATED 1 7.13% $6,352

The top Alma USDA lender as defined by loan originations is Preston Home Loans Inc, with 4 USDA loans originated. Their average total fees are $6,264, which is $946 lower than the next largest lender, UNION HOME MORTGAGE CORP..

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

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