Ann Arbor USDA Loan Rates, Closing Costs & Stats
ANN ARBOR, 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.
Ann Arbor's 6 lenders originated 11 USDA loans during 2023. The total origination value was $2,945,000, with an average USDA loan value of $267,727.
Ann Arbor USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Ann Arbor
averaged
0.16%
for the week of 2024-11-15, compared to the national average (all USDA variants) of
0% for the same period.
Ann Arbor's average USDA mortgage closing costs are $6,015.
The average rate for the prior week (2024-11-08) was
6.31% and
one month ago for the week of 2024-10-11, the
average rate was 6.17%.
The average rate one year ago was 7.4%.
For refis of the same type during the week of 2024-11-15, the average rate
was -0.24%.
Ann Arbor 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 Ann Arbor level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | 3 | 5.71% | $10,699 |
| MORTGAGE 1 INCORPORATED | 3 | 5.79% | $8,882 |
| CROSSCOUNTRY MORTGAGE, LLC | 1 | 7.25% | $7,331 |
| Equity Prime Mortgage LLC | 1 | 6.13% | $9,728 |
| PLAZA HOME MORTGAGE, INC. | 1 | 6.25% | $13,574 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 5.63% | $10,510 |
The top Ann Arbor USDA lender as defined by loan originations is GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION, with
3 USDA loans originated. Their average total fees are
$10,699, which is $1,817
higher than the next largest lender,
MORTGAGE 1 INCORPORATED.
The lowest fee Ann Arbor USDA lenders (with over 10 loans originated) are
.
The lowest rate Ann Arbor USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Ann Arbor (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 | $389,500 (17.6%) | $504,774 (12.9%) | 1.44 | 551 |
| 2018-02-01 | $391,125 (13.6%) | $512,234 (1.6%) | 1.42 | 543 |
| 2018-03-01 | $390,000 (3.8%) | $503,965 (-3.0%) | 1.37 | 582 |
| 2018-04-01 | $394,950 (1.3%) | $488,766 (-7.6%) | 1.34 | 666 |
| 2018-05-01 | $406,475 (3.1%) | $493,882 (-6.8%) | 1.36 | 800 |
| 2018-06-01 | $409,000 (5.1%) | $496,016 (-3.1%) | 1.36 | 884 |
| 2018-07-01 | $409,500 (7.8%) | $486,928 (0.7%) | 1.37 | 980 |
| 2018-08-01 | $393,950 (6.5%) | $459,705 (-3.7%) | 1.32 | 1,065 |
| 2018-09-01 | $390,000 (5.6%) | $462,953 (-2.7%) | 1.31 | 1,065 |
| 2018-10-01 | $395,238 (6.8%) | $464,080 (-6.0%) | 1.34 | 1,039 |
| 2018-11-01 | $396,500 (-0.6%) | $461,397 (-8.4%) | 1.34 | 964 |
| 2018-12-01 | $399,000 (-0.2%) | $457,678 (-8.4%) | 1.38 | 837 |
| 2019-01-01 | $399,900 (2.7%) | $461,700 (-8.5%) | 1.38 | 743 |
| 2019-02-01 | $399,950 (2.3%) | $468,019 (-8.6%) | 1.35 | 741 |
| 2019-03-01 | $404,246 (3.7%) | $477,400 (-5.3%) | 1.32 | 850 |
| 2019-04-01 | $407,481 (3.2%) | $486,408 (-0.5%) | 1.29 | 963 |
| 2019-05-01 | $417,000 (2.6%) | $491,982 (-0.4%) | 1.30 | 1,070 |
| 2019-06-01 | $416,000 (1.7%) | $502,220 (1.3%) | 1.30 | 1,117 |
| 2019-07-01 | $408,453 (-0.3%) | $486,504 (-0.1%) | 1.28 | 1,166 |
| 2019-08-01 | $394,445 (0.1%) | $471,414 (2.6%) | 1.25 | 1,200 |
| 2019-09-01 | $386,264 (-1.0%) | $460,886 (-0.5%) | 1.24 | 1,196 |
| 2019-10-01 | $378,824 (-4.2%) | $450,945 (-2.8%) | 1.22 | 1,192 |
| 2019-11-01 | $373,700 (-5.8%) | $439,351 (-4.8%) | 1.23 | 1,096 |
| 2019-12-01 | $368,750 (-7.6%) | $434,260 (-5.1%) | 1.23 | 937 |
| 2020-01-01 | $368,528 (-7.9%) | $432,704 (-6.3%) | 1.23 | 811 |
| 2020-02-01 | $387,990 (-3.0%) | $451,891 (-3.5%) | 1.27 | 793 |
| 2020-03-01 | $398,950 (-1.3%) | $467,282 (-2.1%) | 1.25 | 860 |
| 2020-04-01 | $399,000 (-2.1%) | $460,737 (-5.3%) | 1.25 | 891 |
| 2020-05-01 | $398,000 (-4.6%) | $457,143 (-7.1%) | 1.21 | 1,063 |
| 2020-06-01 | $398,915 (-4.1%) | $463,706 (-7.7%) | 1.18 | 1,081 |
| 2020-07-01 | $399,450 (-2.2%) | $471,470 (-3.1%) | 1.16 | 1,034 |
| 2020-08-01 | $398,900 (1.1%) | $473,257 (0.4%) | 1.14 | 1,009 |
| 2020-09-01 | $399,950 (3.5%) | $482,726 (4.7%) | 1.15 | 959 |
| 2020-10-01 | $409,998 (8.2%) | $494,034 (9.6%) | 1.17 | 892 |
| 2020-11-01 | $418,250 (11.9%) | $491,874 (12.0%) | 1.22 | 791 |
| 2020-12-01 | $416,455 (12.9%) | $491,595 (13.2%) | 1.24 | 698 |
| 2021-01-01 | $429,900 (16.7%) | $510,994 (18.1%) | 1.28 | 563 |
| 2021-02-01 | $443,241 (14.2%) | $537,303 (18.9%) | 1.29 | 488 |
| 2021-03-01 | $449,600 (12.7%) | $541,471 (15.9%) | 1.28 | 456 |
| 2021-04-01 | $449,300 (12.6%) | $559,009 (21.3%) | 1.22 | 454 |
| 2021-05-01 | $439,000 (10.3%) | $559,444 (22.4%) | 1.17 | 505 |
| 2021-06-01 | $424,850 (6.5%) | $549,654 (18.5%) | 1.12 | 598 |
| 2021-07-01 | $422,000 (5.7%) | $550,094 (16.7%) | 1.11 | 665 |
| 2021-08-01 | $399,950 (0.3%) | $531,540 (12.3%) | 1.07 | 692 |
| 2021-09-01 | $412,475 (3.1%) | $543,570 (12.6%) | 1.10 | 613 |
| 2021-10-01 | $415,000 (1.2%) | $553,831 (12.1%) | 1.11 | 560 |
| 2021-11-01 | $399,100 (-4.6%) | $554,373 (12.7%) | 1.07 | 489 |
| 2021-12-01 | $407,745 (-2.1%) | $563,225 (14.6%) | 1.10 | 411 |
| 2022-01-01 | $428,695 (-0.3%) | $576,600 (12.8%) | 1.16 | 329 |
| 2022-02-01 | $444,500 (0.3%) | $598,012 (11.3%) | 1.16 | 293 |
| 2022-03-01 | $414,250 (-7.9%) | $578,053 (6.8%) | 1.04 | 308 |
| 2022-04-01 | $429,900 (-4.3%) | $585,294 (4.7%) | 1.02 | 358 |
| 2022-05-01 | $450,383 (2.6%) | $591,117 (5.7%) | 1.03 | 398 |
| 2022-06-01 | $449,938 (5.9%) | $564,427 (2.7%) | 1.00 | 479 |
| 2022-07-01 | $450,890 (6.9%) | $568,124 (3.3%) | 1.02 | 584 |
| 2022-08-01 | $449,938 (12.5%) | $546,719 (2.9%) | 1.04 | 622 |
| 2022-09-01 | $449,820 (9.1%) | $547,848 (0.8%) | 1.05 | 619 |
| 2022-10-01 | $449,000 (8.2%) | $552,613 (-0.2%) | 1.06 | 624 |
| 2022-11-01 | $436,725 (9.4%) | $544,276 (-1.8%) | 1.05 | 589 |
| 2022-12-01 | $420,000 (3.0%) | $543,487 (-3.5%) | 1.04 | 465 |
| 2023-01-01 | $430,000 (0.3%) | $566,369 (-1.8%) | 1.07 | 416 |
| 2023-02-01 | $449,495 (1.1%) | $597,447 (-0.1%) | 1.08 | 368 |
| 2023-03-01 | $468,750 (13.2%) | $631,888 (9.3%) | 1.11 | 374 |
| 2023-04-01 | $475,000 (10.5%) | $646,643 (10.5%) | 1.10 | 394 |
| 2023-05-01 | $495,450 (10.0%) | $644,195 (9.0%) | 1.12 | 393 |
| 2023-06-01 | $511,070 (13.6%) | $661,149 (17.1%) | 1.15 | 417 |
| 2023-07-01 | $529,900 (17.5%) | $677,324 (19.2%) | 1.20 | 443 |
| 2023-08-01 | $499,139 (10.9%) | $648,861 (18.7%) | 1.15 | 446 |
| 2023-09-01 | $495,190 (10.1%) | $652,563 (19.1%) | 1.15 | 456 |
| 2023-10-01 | $480,000 (6.9%) | $641,408 (16.1%) | 1.13 | 468 |
| 2023-11-01 | $485,563 (11.2%) | $645,484 (18.6%) | 1.16 | 556 |
| 2023-12-01 | $494,245 (17.7%) | $666,743 (22.7%) | 1.21 | 391 |
| 2024-01-01 | $502,995 (17.0%) | $662,986 (17.1%) | 1.23 | 347 |
| 2024-02-01 | $514,950 (14.6%) | $686,380 (14.9%) | 1.24 | 330 |
| 2024-03-01 | $525,000 (12.0%) | $667,319 (5.6%) | 1.24 | 364 |
| 2024-04-01 | $549,950 (15.8%) | $689,311 (6.6%) | 1.28 | 391 |
| 2024-05-01 | $554,225 (11.9%) | $709,784 (10.2%) | 1.25 | 454 |
| 2024-06-01 | $539,900 (5.6%) | $689,203 (4.2%) | 1.21 | 511 |
| 2024-07-01 | $526,304 (-0.7%) | $650,310 (-4.0%) | 1.20 | 516 |
| 2024-08-01 | $513,790 (2.9%) | $652,481 (0.6%) | 1.19 | 569 |
| 2024-09-01 | $509,450 (2.9%) | $643,567 (-1.4%) | 1.20 | 601 |
| 2024-10-01 | $472,473 (-1.6%) | $618,667 (-3.6%) | 1.11 | 585 |
Ann Arbor's median listing price comes in at 111% of the national average.
Ann Arbor's average listing price for 2024-10-01 was $618,667, a difference of $-22,741 (-3.6%) versus the prior year and $-24,900 versus the prior month.
For the 2024-10-01 period, Ann Arbor had 585 MLS listings, a difference of -16 listings (-3%) versus the prior month and 117 listings (25%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Ann Arbor (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 82 days | 2,091 sqft |
| 2018-02-01 | 70 days | 2,136 sqft |
| 2018-03-01 | 44 days | 2,043 sqft |
| 2018-04-01 | 35 days | 2,058 sqft |
| 2018-05-01 | 32 days | 2,071 sqft |
| 2018-06-01 | 38 days | 2,086 sqft |
| 2018-07-01 | 41 days | 2,053 sqft |
| 2018-08-01 | 42 days | 1,974 sqft |
| 2018-09-01 | 52 days | 1,996 sqft |
| 2018-10-01 | 57 days | 2,005 sqft |
| 2018-11-01 | 59 days | 1,999 sqft |
| 2018-12-01 | 71 days | 1,962 sqft |
| 2019-01-01 | 86 days | 1,962 sqft |
| 2019-02-01 | 80 days | 1,984 sqft |
| 2019-03-01 | 56 days | 2,032 sqft |
| 2019-04-01 | 38 days | 2,085 sqft |
| 2019-05-01 | 43 days | 2,084 sqft |
| 2019-06-01 | 44 days | 2,100 sqft |
| 2019-07-01 | 49 days | 2,085 sqft |
| 2019-08-01 | 53 days | 2,062 sqft |
| 2019-09-01 | 59 days | 2,044 sqft |
| 2019-10-01 | 63 days | 2,033 sqft |
| 2019-11-01 | 68 days | 2,004 sqft |
| 2019-12-01 | 89 days | 2,022 sqft |
| 2020-01-01 | 96 days | 1,999 sqft |
| 2020-02-01 | 80 days | 2,064 sqft |
| 2020-03-01 | 40 days | 2,100 sqft |
| 2020-04-01 | 54 days | 2,065 sqft |
| 2020-05-01 | 59 days | 2,048 sqft |
| 2020-06-01 | 41 days | 2,033 sqft |
| 2020-07-01 | 49 days | 2,042 sqft |
| 2020-08-01 | 51 days | 2,028 sqft |
| 2020-09-01 | 52 days | 2,029 sqft |
| 2020-10-01 | 52 days | 2,056 sqft |
| 2020-11-01 | 57 days | 1,994 sqft |
| 2020-12-01 | 73 days | 1,999 sqft |
| 2021-01-01 | 85 days | 2,036 sqft |
| 2021-02-01 | 72 days | 2,048 sqft |
| 2021-03-01 | 41 days | 1,997 sqft |
| 2021-04-01 | 28 days | 1,978 sqft |
| 2021-05-01 | 30 days | 1,946 sqft |
| 2021-06-01 | 30 days | 1,964 sqft |
| 2021-07-01 | 37 days | 1,912 sqft |
| 2021-08-01 | 38 days | 1,846 sqft |
| 2021-09-01 | 51 days | 1,883 sqft |
| 2021-10-01 | 64 days | 1,885 sqft |
| 2021-11-01 | 66 days | 1,890 sqft |
| 2021-12-01 | 77 days | 1,872 sqft |
| 2022-01-01 | 84 days | 1,854 sqft |
| 2022-02-01 | 61 days | 1,817 sqft |
| 2022-03-01 | 30 days | 1,702 sqft |
| 2022-04-01 | 27 days | 1,787 sqft |
| 2022-05-01 | 26 days | 1,854 sqft |
| 2022-06-01 | 24 days | 1,907 sqft |
| 2022-07-01 | 29 days | 1,954 sqft |
| 2022-08-01 | 37 days | 1,897 sqft |
| 2022-09-01 | 42 days | 1,914 sqft |
| 2022-10-01 | 44 days | 1,952 sqft |
| 2022-11-01 | 51 days | 1,912 sqft |
| 2022-12-01 | 68 days | 1,852 sqft |
| 2023-01-01 | 67 days | 1,853 sqft |
| 2023-02-01 | 50 days | 1,908 sqft |
| 2023-03-01 | 38 days | 1,940 sqft |
| 2023-04-01 | 33 days | 1,918 sqft |
| 2023-05-01 | 33 days | 1,929 sqft |
| 2023-06-01 | 32 days | 2,012 sqft |
| 2023-07-01 | 36 days | 2,062 sqft |
| 2023-08-01 | 35 days | 2,038 sqft |
| 2023-09-01 | 39 days | 1,971 sqft |
| 2023-10-01 | 38 days | 1,986 sqft |
| 2023-11-01 | 51 days | 2,033 sqft |
| 2023-12-01 | 59 days | 2,048 sqft |
| 2024-01-01 | 71 days | 2,103 sqft |
| 2024-02-01 | 54 days | 2,095 sqft |
| 2024-03-01 | 35 days | 2,108 sqft |
| 2024-04-01 | 35 days | 2,185 sqft |
| 2024-05-01 | 24 days | 2,254 sqft |
| 2024-06-01 | 33 days | 2,194 sqft |
| 2024-07-01 | 37 days | 2,133 sqft |
| 2024-08-01 | 39 days | 2,079 sqft |
| 2024-09-01 | 41 days | 2,068 sqft |
| 2024-10-01 | 42 days | 2,011 sqft |
Ann Arbor's median square footage for active listings during the 2024-10-01 period was 2,011 sqft. One year prior, the average listing was 1,986 sqft.