Battle Creek USDA Loans
BATTLE CREEK, 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.
Battle Creek's 18 lenders originated 47 USDA loans during 2021. The total origination value was $6,645,000, with an average USDA loan value of $141,383.
Battle Creek USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Battle Creek
averaged
5.68%
for the week of 2022-05-13, compared to the national average (all USDA variants) of
5.294% for the same period.
The average rate for the prior week (2022-05-06) was
5.42% and
one month ago for the week of 2022-04-08, the
average rate was 5.28%.
The average rate one year ago was 3.29%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.19%.
Battle Creek USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Battle Creek level.
| Name | # of Loans | 2021 Avg. 30yFix Rate | 2021 Avg. Total Fees |
|---|---|---|---|
| AMERIFIRST FINANCIAL CORPORATION | 17 | 3.35% | $5,519 |
| Neighborhood Loans, Inc. | 7 | 3.11% | $4,773 |
| GUARANTEED RATE, INC. | 3 | 3.29% | $4,749 |
| MORTGAGE 1 INCORPORATED | 2 | 3.50% | $5,112 |
| RUOFF MORTGAGE COMPANY, INC. | 2 | 2.94% | $2,359 |
| HOME POINT FINANCIAL CORPORATION | 2 | 3.18% | $3,540 |
| SUCCESS MORTGAGE PARTNERS, INC. | 2 | 3.19% | $7,932 |
| GVC MORTGAGE, INC. | 2 | 3.75% | $2,511 |
| OMNI Community Credit Union | 1 | 3.44% | $3,170 |
| SOUTHWEST FUNDING, LP | 1 | 3.88% | $4,144 |
| TCF National Bank | 1 | 2.88% | $2,813 |
| Flagstar Bank, FSB | 1 | 2.38% | $2,225 |
| UNION HOME MORTGAGE CORP. | 1 | 3.38% | $6,408 |
| Honor Credit Union | 1 | 3.00% | $3,766 |
| Kellogg Community Credit Union | 1 | 3.00% | $4,107 |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | 1 | 3.25% | $4,882 |
| NORTHERN MORTGAGE SERVICES, LLC | 1 | 2.88% | $3,135 |
| Old National Bank | 1 | 2.75% | $4,890 |
The top Battle Creek USDA lender as defined by loan originations is AMERIFIRST FINANCIAL CORPORATION, with
17 USDA loans originated. Their average total fees are
$5,519, which is $746
higher than the next largest lender,
Neighborhood Loans, Inc..
The lowest fee Battle Creek USDA lenders (with over 10 loans originated) are
AMERIFIRST FINANCIAL CORPORATION ($5,519), .
The lowest rate Battle Creek USDA lenders (with over 10 loans originated) are
AMERIFIRST FINANCIAL CORPORATION (3.35%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Battle Creek (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 | $100,900 (3.3%) | $164,770 (22.1%) | 0.37 | 398 |
| 2018-02-01 | $100,500 (1.1%) | $165,846 (21.0%) | 0.36 | 369 |
| 2018-03-01 | $109,900 (11.0%) | $174,891 (24.5%) | 0.38 | 336 |
| 2018-04-01 | $127,450 (20.2%) | $182,201 (8.5%) | 0.43 | 346 |
| 2018-05-01 | $145,950 (24.3%) | $191,305 (13.0%) | 0.49 | 375 |
| 2018-06-01 | $144,900 (18.4%) | $194,260 (15.5%) | 0.48 | 415 |
| 2018-07-01 | $141,450 (17.9%) | $190,570 (11.1%) | 0.47 | 443 |
| 2018-08-01 | $139,900 (15.7%) | $188,819 (8.5%) | 0.47 | 470 |
| 2018-09-01 | $139,000 (17.3%) | $189,887 (13.4%) | 0.46 | 497 |
| 2018-10-01 | $139,900 (21.7%) | $191,301 (15.3%) | 0.47 | 474 |
| 2018-11-01 | $134,500 (22.3%) | $178,431 (6.7%) | 0.45 | 466 |
| 2018-12-01 | $134,000 (21.9%) | $179,135 (7.9%) | 0.46 | 446 |
| 2019-01-01 | $133,250 (32.1%) | $175,664 (6.6%) | 0.46 | 406 |
| 2019-02-01 | $134,950 (34.3%) | $180,327 (8.7%) | 0.45 | 373 |
| 2019-03-01 | $136,386 (24.1%) | $181,309 (3.7%) | 0.44 | 366 |
| 2019-04-01 | $137,586 (8.0%) | $191,805 (5.3%) | 0.43 | 369 |
| 2019-05-01 | $149,900 (2.7%) | $208,868 (9.2%) | 0.46 | 369 |
| 2019-06-01 | $164,900 (13.8%) | $226,410 (16.6%) | 0.51 | 363 |
| 2019-07-01 | $160,000 (13.1%) | $224,560 (17.8%) | 0.50 | 396 |
| 2019-08-01 | $163,471 (16.9%) | $216,181 (14.5%) | 0.51 | 416 |
| 2019-09-01 | $158,471 (14.0%) | $206,934 (9.0%) | 0.50 | 422 |
| 2019-10-01 | $156,950 (12.2%) | $205,937 (7.7%) | 0.50 | 444 |
| 2019-11-01 | $151,400 (12.6%) | $203,347 (14.0%) | 0.49 | 398 |
| 2019-12-01 | $147,450 (10.0%) | $192,469 (7.4%) | 0.49 | 361 |
| 2020-01-01 | $145,000 (8.8%) | $187,642 (6.8%) | 0.48 | 340 |
| 2020-02-01 | $139,900 (3.7%) | $187,104 (3.8%) | 0.45 | 326 |
| 2020-03-01 | $147,973 (8.5%) | $203,830 (12.4%) | 0.46 | 278 |
| 2020-04-01 | $141,250 (2.7%) | $202,484 (5.6%) | 0.44 | 276 |
| 2020-05-01 | $152,500 (1.7%) | $211,892 (1.5%) | 0.46 | 267 |
| 2020-06-01 | $174,900 (6.1%) | $232,486 (2.7%) | 0.51 | 257 |
| 2020-07-01 | $193,450 (20.9%) | $246,923 (10.0%) | 0.55 | 229 |
| 2020-08-01 | $195,000 (19.3%) | $231,080 (6.9%) | 0.56 | 233 |
| 2020-09-01 | $164,900 (4.1%) | $211,852 (2.4%) | 0.47 | 250 |
| 2020-10-01 | $159,900 (1.9%) | $220,240 (7.0%) | 0.46 | 249 |
| 2020-11-01 | $159,900 (5.6%) | $217,103 (6.8%) | 0.46 | 236 |
| 2020-12-01 | $152,500 (3.4%) | $207,748 (7.9%) | 0.45 | 237 |
| 2021-01-01 | $154,900 (6.8%) | $207,372 (10.5%) | 0.46 | 205 |
| 2021-02-01 | $157,450 (12.5%) | $238,453 (27.4%) | 0.45 | 152 |
| 2021-03-01 | $172,400 (16.5%) | $249,635 (22.5%) | 0.48 | 117 |
| 2021-04-01 | $178,950 (26.7%) | $268,404 (32.6%) | 0.48 | 105 |
| 2021-05-01 | $180,000 (18.0%) | $262,613 (23.9%) | 0.47 | 119 |
| 2021-06-01 | $163,700 (-6.4%) | $263,180 (13.2%) | 0.43 | 170 |
| 2021-07-01 | $154,950 (-19.9%) | $267,678 (8.4%) | 0.40 | 209 |
| 2021-08-01 | $164,950 (-15.4%) | $251,836 (9.0%) | 0.43 | 239 |
| 2021-09-01 | $158,250 (-4.0%) | $250,151 (18.1%) | 0.42 | 230 |
| 2021-10-01 | $155,000 (-3.1%) | $240,921 (9.4%) | 0.41 | 229 |
| 2021-11-01 | $169,700 (6.1%) | $266,026 (22.5%) | 0.45 | 199 |
| 2021-12-01 | $159,950 (4.9%) | $277,124 (33.4%) | 0.43 | 168 |
| 2022-01-01 | $152,000 (-1.9%) | $269,992 (30.2%) | 0.41 | 151 |
| 2022-02-01 | $159,950 (1.6%) | $288,067 (20.8%) | 0.41 | 126 |
| 2022-03-01 | $194,450 (12.8%) | $316,082 (26.6%) | 0.48 | 123 |
| 2022-04-01 | $199,900 (11.7%) | $323,002 (20.3%) | 0.47 | 130 |
Battle Creek's median listing price comes in at 47% of the national average.
Battle Creek's average listing price for 2022-04-01 was $323,002, a difference of $54,598 (20.3%) versus the prior year and $6,920 versus the prior month.
For the 2022-04-01 period, Battle Creek had 130 MLS listings, a difference of 7 listings (6%) versus the prior month and 25 listings (24%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Battle Creek (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 78 days | 1,562 sqft |
| 2018-02-01 | 72 days | 1,578 sqft |
| 2018-03-01 | 61 days | 1,650 sqft |
| 2018-04-01 | 50 days | 1,661 sqft |
| 2018-05-01 | 45 days | 1,765 sqft |
| 2018-06-01 | 42 days | 1,800 sqft |
| 2018-07-01 | 45 days | 1,701 sqft |
| 2018-08-01 | 43 days | 1,724 sqft |
| 2018-09-01 | 45 days | 1,716 sqft |
| 2018-10-01 | 54 days | 1,702 sqft |
| 2018-11-01 | 60 days | 1,658 sqft |
| 2018-12-01 | 69 days | 1,666 sqft |
| 2019-01-01 | 72 days | 1,655 sqft |
| 2019-02-01 | 65 days | 1,624 sqft |
| 2019-03-01 | 57 days | 1,616 sqft |
| 2019-04-01 | 51 days | 1,642 sqft |
| 2019-05-01 | 45 days | 1,624 sqft |
| 2019-06-01 | 50 days | 1,690 sqft |
| 2019-07-01 | 51 days | 1,730 sqft |
| 2019-08-01 | 52 days | 1,739 sqft |
| 2019-09-01 | 52 days | 1,722 sqft |
| 2019-10-01 | 56 days | 1,758 sqft |
| 2019-11-01 | 57 days | 1,700 sqft |
| 2019-12-01 | 68 days | 1,762 sqft |
| 2020-01-01 | 73 days | 1,701 sqft |
| 2020-02-01 | 66 days | 1,615 sqft |
| 2020-03-01 | 62 days | 1,688 sqft |
| 2020-04-01 | 62 days | 1,649 sqft |
| 2020-05-01 | 72 days | 1,718 sqft |
| 2020-06-01 | 58 days | 1,773 sqft |
| 2020-07-01 | 52 days | 1,785 sqft |
| 2020-08-01 | 53 days | 1,669 sqft |
| 2020-09-01 | 49 days | 1,556 sqft |
| 2020-10-01 | 49 days | 1,556 sqft |
| 2020-11-01 | 57 days | 1,556 sqft |
| 2020-12-01 | 60 days | 1,560 sqft |
| 2021-01-01 | 71 days | 1,556 sqft |
| 2021-02-01 | 86 days | 1,556 sqft |
| 2021-03-01 | 84 days | 1,556 sqft |
| 2021-04-01 | 53 days | 1,588 sqft |
| 2021-05-01 | 42 days | 1,616 sqft |
| 2021-06-01 | 34 days | 1,575 sqft |
| 2021-07-01 | 35 days | 1,594 sqft |
| 2021-08-01 | 37 days | 1,592 sqft |
| 2021-09-01 | 46 days | 1,548 sqft |
| 2021-10-01 | 49 days | 1,598 sqft |
| 2021-11-01 | 53 days | 1,616 sqft |
| 2021-12-01 | 61 days | 1,616 sqft |
| 2022-01-01 | 67 days | 1,554 sqft |
| 2022-02-01 | 76 days | 1,567 sqft |
| 2022-03-01 | 59 days | 1,593 sqft |
| 2022-04-01 | 42 days | 1,616 sqft |
Battle Creek's median square footage for active listings during the 2022-04-01 period was 1,616 sqft. One year prior, the average listing was 1,588 sqft.
