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%.

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

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 for 2022-04-01 was $199,900, a difference of $20,950 (11.7%) versus the prior year and $5,450 versus the prior month.

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 listing age (time on market) for 2022-04-01 was 42 days. This is -21% shorter than the same period one year ago.

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.