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 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
6.31%
for the week of 2024-10-11, compared to the national average (all USDA variants) of
6.08% for the same period.
Alma's average USDA mortgage closing costs are $4,149.
The average rate for the prior week (2024-10-04) was
6.21% and
one month ago for the week of 2024-09-06, the
average rate was 6.2%.
The average rate one year ago was 7.39%.
For refis of the same type during the week of 2024-10-11, the average rate
was 6.18%.
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. LouisDate | 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 |
Alma's median listing price comes in at 0% of the national average.
Alma's average listing price for 2024-09-01 was $249,060, a difference of $20,966 (9.2%) versus the prior year and $-1,076 versus the prior month.
For the 2024-09-01 period, Alma had 77 MLS listings, a difference of 11 listings (17%) versus the prior month and 29 listings (60%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Alma (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 |
Alma's median square footage for active listings during the 2024-09-01 period was 1,778 sqft. One year prior, the average listing was 1,690 sqft.