Alpena USDA Loan Rates, Closing Costs & Stats

Alpena, MI

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Alpena's 5 lenders originated 8 USDA loans during 2023. The total origination value was $940,000, with an average USDA loan value of $117,500.

    Alpena USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Alpena averaged 6.43% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

    Alpena's average USDA mortgage closing costs are $4,042.

    The average rate for the prior week (2024-12-06) was 6.36% and one month ago for the week of 2024-11-08, the average rate was 6.38%.

    The average rate one year ago was 6.85%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.1%.

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

    Alpena 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 Alpena level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNION HOME MORTGAGE CORP. 3 7.08% $6,366
    STAUNTON FINANCIAL, INC. 2 6.31% $4,304
    CARDINAL FINANCIAL 1 6.00% $6,692
    Carrington Mortgage Services, LLC 1 7.13% $6,758
    J. VIRGIL, INC. 1 6.38% $3,922

    The top Alpena USDA lender as defined by loan originations is UNION HOME MORTGAGE CORP., with 3 USDA loans originated. Their average total fees are $6,366, which is $2,062 higher than the next largest lender, STAUNTON FINANCIAL, INC..

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Alpena (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 $105,000 (7.0%) $155,485 (33.6%) 0.00 180
    2018-02-01 $100,300 (1.3%) $156,760 (30.8%) 0.00 185
    2018-03-01 $99,900 (-3.9%) $156,418 (24.7%) 0.00 186
    2018-04-01 $105,750 (-2.9%) $164,573 (24.7%) 0.00 188
    2018-05-01 $106,975 (-6.6%) $168,585 (18.8%) 0.00 185
    2018-06-01 $114,900 (4.8%) $170,111 (18.5%) 0.00 205
    2018-07-01 $119,900 (9.1%) $169,178 (16.1%) 0.00 228
    2018-08-01 $119,500 (9.0%) $164,752 (16.7%) 0.00 229
    2018-09-01 $119,900 (7.2%) $168,011 (19.8%) 0.00 221
    2018-10-01 $119,700 (8.9%) $171,342 (6.6%) 0.00 212
    2018-11-01 $119,450 (15.0%) $172,919 (9.3%) 0.00 205
    2018-12-01 $119,900 (10.3%) $174,831 (14.1%) 0.00 182
    2019-01-01 $124,925 (19.0%) $190,342 (22.4%) 0.00 151
    2019-02-01 $121,200 (20.8%) $196,291 (25.2%) 0.00 140
    2019-03-01 $118,336 (18.5%) $195,321 (24.9%) 0.00 130
    2019-04-01 $119,311 (12.8%) $196,529 (19.4%) 0.00 123
    2019-05-01 $123,700 (15.6%) $192,702 (14.3%) 0.00 145
    2019-06-01 $129,900 (13.1%) $187,825 (10.4%) 0.00 160
    2019-07-01 $129,050 (7.6%) $188,673 (11.5%) 0.00 169
    2019-08-01 $128,418 (7.5%) $187,921 (14.1%) 0.00 176
    2019-09-01 $128,745 (7.4%) $188,972 (12.5%) 0.00 189
    2019-10-01 $128,089 (7.0%) $194,803 (13.7%) 0.00 196
    2019-11-01 $125,500 (5.1%) $203,891 (17.9%) 0.00 175
    2019-12-01 $124,200 (3.6%) $205,680 (17.7%) 0.00 168
    2020-01-01 $124,200 (-0.6%) $206,425 (8.5%) 0.00 144
    2020-02-01 $128,950 (6.4%) $204,140 (4.0%) 0.00 127
    2020-03-01 $130,975 (10.7%) $214,430 (9.8%) 0.00 110
    2020-04-01 $135,150 (13.3%) $220,569 (12.2%) 0.00 102
    2020-05-01 $143,950 (16.4%) $229,913 (19.3%) 0.00 97
    2020-06-01 $148,775 (14.5%) $232,158 (23.6%) 0.00 107
    2020-07-01 $156,175 (21.0%) $252,830 (34.0%) 0.00 96
    2020-08-01 $173,250 (34.9%) $270,479 (43.9%) 0.00 73
    2020-09-01 $129,000 (0.2%) $251,949 (33.3%) 0.00 72
    2020-10-01 $139,500 (8.9%) $262,349 (34.7%) 0.00 68
    2020-11-01 $140,900 (12.3%) $210,807 (3.4%) 0.00 63
    2020-12-01 $142,150 (14.5%) $208,827 (1.5%) 0.00 55
    2021-01-01 $137,400 (10.6%) $203,263 (-1.5%) 0.00 52
    2021-02-01 $151,175 (17.2%) $231,030 (13.2%) 0.00 45
    2021-03-01 $161,950 (23.7%) $246,119 (14.8%) 0.00 37
    2021-04-01 $189,000 (39.8%) $250,495 (13.6%) 0.00 27
    2021-05-01 $155,000 (7.7%) $206,009 (-10.4%) 0.00 34
    2021-06-01 $149,450 (0.5%) $210,022 (-9.5%) 0.00 43
    2021-07-01 $176,950 (13.3%) $264,241 (4.5%) 0.00 45
    2021-08-01 $149,600 (-13.7%) $228,220 (-15.6%) 0.00 44
    2021-09-01 $157,225 (21.9%) $276,290 (9.7%) 0.00 51
    2021-10-01 $147,000 (5.4%) $266,429 (1.6%) 0.00 36
    2021-11-01 $136,900 (-2.8%) $244,219 (15.9%) 0.00 40
    2021-12-01 $136,425 (-4.0%) $247,048 (18.3%) 0.00 41
    2022-01-01 $135,000 (-1.8%) $277,625 (36.6%) 0.00 36
    2022-02-01 $152,450 (0.8%) $334,436 (44.8%) 0.00 31
    2022-03-01 $161,725 (-0.1%) $341,337 (38.7%) 0.00 33
    2022-04-01 $167,400 (-11.4%) $900,562 (259.5%) 0.00 34
    2022-05-01 $149,900 (-3.3%) $858,674 (316.8%) 0.00 37
    2022-06-01 $157,725 (5.5%) $795,318 (278.7%) 0.00 41
    2022-07-01 $149,900 (-15.3%) $623,790 (136.1%) 0.00 59
    2022-08-01 $166,225 (11.1%) $704,196 (208.6%) 0.00 57
    2022-09-01 $172,900 (10.0%) $672,455 (143.4%) 0.00 54
    2022-10-01 $169,000 (15.0%) $721,994 (171.0%) 0.00 46
    2022-11-01 $174,925 (27.8%) $762,510 (212.2%) 0.00 44
    2022-12-01 $185,000 (35.6%) $845,899 (242.4%) 0.00 39
    2023-01-01 $181,600 (34.5%) $839,027 (202.2%) 0.00 38
    2023-02-01 $173,550 (13.8%) $1,020,259 (205.1%) 0.00 31
    2023-03-01 $211,000 (30.5%) $1,121,624 (228.6%) 0.00 29
    2023-04-01 $215,000 (28.4%) $976,343 (8.4%) 0.00 27
    2023-05-01 $230,500 (53.8%) $935,097 (8.9%) 0.00 30
    2023-06-01 $228,125 (44.6%) $756,195 (-4.9%) 0.00 42
    2023-07-01 $249,999 (66.8%) $737,998 (18.3%) 0.00 44
    2023-08-01 $244,700 (47.2%) $863,007 (22.6%) 0.00 36
    2023-09-01 $222,450 (28.7%) $785,236 (16.8%) 0.00 46
    2023-10-01 $219,875 (30.1%) $763,416 (5.7%) 0.00 48
    2023-11-01 $189,175 (8.2%) $836,400 (9.7%) 0.00 42
    2023-12-01 $200,000 (8.1%) $931,189 (10.1%) 0.00 31
    2024-01-01 $240,750 (32.6%) $1,039,527 (23.9%) 0.00 27
    2024-02-01 $229,000 (32.0%) $1,141,127 (11.9%) 0.00 25
    2024-03-01 $179,900 (-14.7%) $1,004,490 (-10.4%) 0.00 31
    2024-04-01 $190,700 (-11.3%) $960,111 (-1.7%) 0.00 33
    2024-05-01 $179,900 (-22.0%) $851,300 (-9.0%) 0.00 40
    2024-06-01 $179,900 (-21.1%) $639,235 (-15.5%) 0.00 51
    2024-07-01 $199,700 (-20.1%) $646,241 (-12.4%) 0.00 56
    2024-08-01 $182,450 (-25.4%) $556,319 (-35.5%) 0.00 65
    2024-09-01 $218,450 (-1.8%) $536,340 (-31.7%) 0.00 66
    2024-10-01 $223,712 (1.8%) $561,716 (-26.4%) 0.00 62
    2024-11-01 $229,900 (21.5%) $520,847 (-37.7%) 0.00 57
    Alpena's median listing price for 2024-11-01 was $229,900, a difference of $40,725 (21.5%) versus the prior year and $6,188 versus the prior month.

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

    Alpena's average listing price for 2024-11-01 was $520,847, a difference of $-315,553 (-37.7%) versus the prior year and $-40,869 versus the prior month.

    For the 2024-11-01 period, Alpena had 57 MLS listings, a difference of -5 listings (-8%) versus the prior month and 15 listings (36%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Alpena (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,538 sqft
    2018-02-01 0 days 1,572 sqft
    2018-03-01 0 days 1,596 sqft
    2018-04-01 0 days 1,565 sqft
    2018-05-01 0 days 1,532 sqft
    2018-06-01 0 days 1,539 sqft
    2018-07-01 0 days 1,570 sqft
    2018-08-01 0 days 1,600 sqft
    2018-09-01 0 days 1,622 sqft
    2018-10-01 0 days 1,628 sqft
    2018-11-01 0 days 1,564 sqft
    2018-12-01 0 days 1,571 sqft
    2019-01-01 0 days 1,620 sqft
    2019-02-01 0 days 1,579 sqft
    2019-03-01 0 days 1,549 sqft
    2019-04-01 0 days 1,531 sqft
    2019-05-01 0 days 1,560 sqft
    2019-06-01 0 days 1,600 sqft
    2019-07-01 0 days 1,651 sqft
    2019-08-01 0 days 1,695 sqft
    2019-09-01 0 days 1,723 sqft
    2019-10-01 0 days 1,752 sqft
    2019-11-01 0 days 1,828 sqft
    2019-12-01 0 days 1,900 sqft
    2020-01-01 0 days 1,900 sqft
    2020-02-01 0 days 1,890 sqft
    2020-03-01 0 days 1,921 sqft
    2020-04-01 0 days 1,991 sqft
    2020-05-01 0 days 1,999 sqft
    2020-06-01 0 days 1,861 sqft
    2020-07-01 0 days 1,892 sqft
    2020-08-01 0 days 1,816 sqft
    2020-09-01 0 days 1,761 sqft
    2020-10-01 0 days 1,787 sqft
    2020-11-01 0 days 1,820 sqft
    2020-12-01 0 days 1,812 sqft
    2021-01-01 0 days 1,842 sqft
    2021-02-01 0 days 1,824 sqft
    2021-03-01 0 days 1,705 sqft
    2021-04-01 0 days 1,824 sqft
    2021-05-01 0 days 1,632 sqft
    2021-06-01 0 days 1,650 sqft
    2021-07-01 0 days 1,815 sqft
    2021-08-01 0 days 1,738 sqft
    2021-09-01 0 days 1,835 sqft
    2021-10-01 0 days 1,795 sqft
    2021-11-01 0 days 1,790 sqft
    2021-12-01 0 days 1,705 sqft
    2022-01-01 0 days 1,743 sqft
    2022-02-01 0 days 1,695 sqft
    2022-03-01 0 days 1,572 sqft
    2022-04-01 0 days 1,678 sqft
    2022-05-01 0 days 1,774 sqft
    2022-06-01 0 days 1,683 sqft
    2022-07-01 0 days 1,768 sqft
    2022-08-01 0 days 1,870 sqft
    2022-09-01 0 days 1,853 sqft
    2022-10-01 0 days 1,750 sqft
    2022-11-01 0 days 1,749 sqft
    2022-12-01 0 days 1,804 sqft
    2023-01-01 0 days 1,775 sqft
    2023-02-01 0 days 1,906 sqft
    2023-03-01 0 days 1,751 sqft
    2023-04-01 0 days 1,800 sqft
    2023-05-01 0 days 1,871 sqft
    2023-06-01 0 days 1,690 sqft
    2023-07-01 0 days 1,864 sqft
    2023-08-01 0 days 1,905 sqft
    2023-09-01 0 days 1,852 sqft
    2023-10-01 0 days 1,842 sqft
    2023-11-01 0 days 1,778 sqft
    2023-12-01 0 days 2,060 sqft
    2024-01-01 0 days 2,235 sqft
    2024-02-01 0 days 1,885 sqft
    2024-03-01 0 days 1,768 sqft
    2024-04-01 0 days 1,764 sqft
    2024-05-01 0 days 1,748 sqft
    2024-06-01 0 days 1,680 sqft
    2024-07-01 0 days 1,734 sqft
    2024-08-01 0 days 1,690 sqft
    2024-09-01 0 days 1,692 sqft
    2024-10-01 0 days 1,728 sqft
    2024-11-01 0 days 1,728 sqft
    Alpena's median listing age (time on market) for 2024-11-01 was 0 days.

    Alpena's median square footage for active listings during the 2024-11-01 period was 1,728 sqft. One year prior, the average listing was 1,778 sqft.