Cadillac USDA Loan Rates, Closing Costs & Stats
Cadillac, 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.
Cadillac's 11 lenders originated 43 USDA loans during 2022. The total origination value was $6,845,000, with an average USDA loan value of $159,186.
Cadillac USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Cadillac
averaged
6.37%
for the week of 2024-03-15, compared to the national average (all USDA variants) of
6.587% for the same period.
Cadillac's average USDA mortgage closing costs are $5,061.
The average rate for the prior week (2024-03-08) was
6.77% and
one month ago for the week of 2024-02-09, the
average rate was 6.31%.
The average rate one year ago was 6.5%.
For refis of the same type during the week of 2024-03-15, the average rate
was 5.98%.
Cadillac 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 Cadillac level.
Name | # of Loans | 2022 Avg. 30yFix Rate | 2022 Avg. Closing Costs |
---|---|---|---|
J. VIRGIL, INC. | 13 | 5.36% | $7,382 |
AMERIFIRST FINANCIAL CORPORATION | 11 | 5.16% | $6,715 |
Independent Bank | 4 | 4.53% | $5,288 |
CARDINAL FINANCIAL | 3 | 5.91% | $8,091 |
MORTGAGE 1 INCORPORATED | 3 | 4.29% | $8,778 |
UNION HOME MORTGAGE CORP. | 2 | 6.56% | $4,773 |
CALIBER HOME LOANS, INC. | 2 | 5.50% | $7,145 |
Fifth Third Bank | 2 | 5.00% | $6,914 |
UNITED WHOLESALE MORTGAGE, LLC | 1 | 3.38% | $5,230 |
LAKE MICHIGAN CREDIT UNION | 1 | 2.25% | $7,049 |
NORTHERN MORTGAGE SERVICES, LLC | 1 | 4.63% | $2,482 |
The top Cadillac USDA lender as defined by loan originations is J. VIRGIL, INC., with
13 USDA loans originated. Their average total fees are
$7,382, which is $667
higher than the next largest lender,
AMERIFIRST FINANCIAL CORPORATION.
The lowest fee Cadillac USDA lenders (with over 10 loans originated) are
AMERIFIRST FINANCIAL CORPORATION ($6,715), J. VIRGIL, INC. ($7,382), .
The lowest rate Cadillac USDA lenders (with over 10 loans originated) are
AMERIFIRST FINANCIAL CORPORATION (5.16%), J. VIRGIL, INC. (5.36%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Cadillac (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 | $137,606 (14.3%) | $162,876 (9.1%) | 0.00 | 236 |
2018-02-01 | $143,900 (20.0%) | $169,208 (14.4%) | 0.00 | 221 |
2018-03-01 | $149,950 (17.9%) | $179,734 (17.4%) | 0.00 | 225 |
2018-04-01 | $148,325 (11.2%) | $177,081 (11.7%) | 0.00 | 230 |
2018-05-01 | $152,450 (9.2%) | $183,166 (11.7%) | 0.00 | 260 |
2018-06-01 | $160,000 (14.4%) | $186,966 (9.9%) | 0.00 | 289 |
2018-07-01 | $165,450 (18.8%) | $188,806 (10.8%) | 0.00 | 305 |
2018-08-01 | $165,950 (20.7%) | $188,413 (14.0%) | 0.00 | 299 |
2018-09-01 | $169,900 (22.0%) | $191,546 (14.5%) | 0.00 | 293 |
2018-10-01 | $169,950 (20.8%) | $194,086 (14.9%) | 0.00 | 266 |
2018-11-01 | $168,450 (20.9%) | $190,105 (14.8%) | 0.00 | 245 |
2018-12-01 | $154,900 (14.7%) | $185,582 (15.1%) | 0.00 | 216 |
2019-01-01 | $149,900 (8.9%) | $180,261 (10.7%) | 0.00 | 208 |
2019-02-01 | $146,725 (2.0%) | $174,655 (3.2%) | 0.00 | 202 |
2019-03-01 | $147,357 (-1.7%) | $173,827 (-3.3%) | 0.00 | 200 |
2019-04-01 | $145,207 (-2.1%) | $174,168 (-1.7%) | 0.00 | 205 |
2019-05-01 | $151,500 (-0.6%) | $182,296 (-0.5%) | 0.00 | 247 |
2019-06-01 | $169,000 (5.6%) | $197,768 (5.8%) | 0.00 | 267 |
2019-07-01 | $163,700 (-1.1%) | $195,774 (3.7%) | 0.00 | 301 |
2019-08-01 | $159,041 (-4.2%) | $192,849 (2.4%) | 0.00 | 310 |
2019-09-01 | $157,752 (-7.2%) | $191,420 (-0.1%) | 0.00 | 308 |
2019-10-01 | $167,868 (-1.2%) | $199,537 (2.8%) | 0.00 | 271 |
2019-11-01 | $171,200 (1.6%) | $204,014 (7.3%) | 0.00 | 232 |
2019-12-01 | $164,925 (6.5%) | $197,608 (6.5%) | 0.00 | 205 |
2020-01-01 | $169,425 (13.0%) | $196,215 (8.9%) | 0.00 | 176 |
2020-02-01 | $189,900 (29.4%) | $216,043 (23.7%) | 0.00 | 157 |
2020-03-01 | $187,450 (27.2%) | $211,828 (21.9%) | 0.00 | 147 |
2020-04-01 | $184,925 (27.4%) | $214,760 (23.3%) | 0.00 | 142 |
2020-05-01 | $192,900 (27.3%) | $215,363 (18.1%) | 0.00 | 151 |
2020-06-01 | $178,650 (5.7%) | $208,467 (5.4%) | 0.00 | 138 |
2020-07-01 | $174,925 (6.9%) | $206,811 (5.6%) | 0.00 | 120 |
2020-08-01 | $179,900 (13.1%) | $213,289 (10.6%) | 0.00 | 106 |
2020-09-01 | $179,900 (14.0%) | $222,852 (16.4%) | 0.00 | 88 |
2020-10-01 | $174,950 (4.2%) | $208,542 (4.5%) | 0.00 | 79 |
2020-11-01 | $164,000 (-4.2%) | $194,503 (-4.7%) | 0.00 | 69 |
2020-12-01 | $163,650 (-0.8%) | $183,826 (-7.0%) | 0.00 | 60 |
2021-01-01 | $159,000 (-6.2%) | $182,410 (-7.0%) | 0.00 | 53 |
2021-02-01 | $144,950 (-23.7%) | $197,510 (-8.6%) | 0.00 | 42 |
2021-03-01 | $178,450 (-4.8%) | $220,463 (4.1%) | 0.00 | 38 |
2021-04-01 | $180,950 (-2.2%) | $227,790 (6.1%) | 0.00 | 39 |
2021-05-01 | $187,450 (-2.8%) | $233,611 (8.5%) | 0.00 | 42 |
2021-06-01 | $183,675 (2.8%) | $242,244 (16.2%) | 0.00 | 49 |
2021-07-01 | $162,450 (-7.1%) | $230,796 (11.6%) | 0.00 | 64 |
2021-08-01 | $169,450 (-5.8%) | $232,407 (9.0%) | 0.00 | 72 |
2021-09-01 | $191,975 (6.7%) | $247,485 (11.1%) | 0.00 | 77 |
2021-10-01 | $197,200 (12.7%) | $248,481 (19.2%) | 0.00 | 85 |
2021-11-01 | $200,950 (22.5%) | $230,294 (18.4%) | 0.00 | 76 |
2021-12-01 | $203,900 (24.6%) | $234,161 (27.4%) | 0.00 | 68 |
2022-01-01 | $182,175 (14.6%) | $229,406 (25.8%) | 0.00 | 62 |
2022-02-01 | $166,200 (14.7%) | $210,630 (6.6%) | 0.00 | 47 |
2022-03-01 | $163,675 (-8.3%) | $196,658 (-10.8%) | 0.00 | 47 |
2022-04-01 | $172,450 (-4.7%) | $218,774 (-4.0%) | 0.00 | 42 |
2022-05-01 | $195,725 (4.4%) | $247,625 (6.0%) | 0.00 | 56 |
2022-06-01 | $232,400 (26.5%) | $272,871 (12.6%) | 0.00 | 60 |
2022-07-01 | $249,900 (53.8%) | $270,268 (17.1%) | 0.00 | 86 |
2022-08-01 | $228,825 (35.0%) | $253,721 (9.2%) | 0.00 | 115 |
2022-09-01 | $212,449 (10.7%) | $250,644 (1.3%) | 0.00 | 115 |
2022-10-01 | $199,500 (1.2%) | $238,083 (-4.2%) | 0.00 | 101 |
2022-11-01 | $183,650 (-8.6%) | $227,456 (-1.2%) | 0.00 | 96 |
2022-12-01 | $182,250 (-10.6%) | $252,666 (7.9%) | 0.00 | 82 |
2023-01-01 | $188,450 (3.4%) | $259,150 (13.0%) | 0.00 | 64 |
2023-02-01 | $191,175 (15.0%) | $255,491 (21.3%) | 0.00 | 57 |
2023-03-01 | $235,000 (43.6%) | $271,512 (38.1%) | 0.00 | 56 |
2023-04-01 | $267,500 (55.1%) | $288,083 (31.7%) | 0.00 | 59 |
2023-05-01 | $291,950 (49.2%) | $333,456 (34.7%) | 0.00 | 66 |
2023-06-01 | $286,150 (23.1%) | $323,574 (18.6%) | 0.00 | 81 |
2023-07-01 | $262,450 (5.0%) | $310,675 (15.0%) | 0.00 | 85 |
2023-08-01 | $264,250 (15.5%) | $304,673 (20.1%) | 0.00 | 97 |
2023-09-01 | $237,000 (11.6%) | $308,251 (23.0%) | 0.00 | 104 |
2023-10-01 | $244,850 (22.7%) | $294,984 (23.9%) | 0.00 | 103 |
2023-11-01 | $249,950 (36.1%) | $296,084 (30.2%) | 0.00 | 96 |
2023-12-01 | $225,000 (23.5%) | $291,030 (15.2%) | 0.00 | 89 |
2024-01-01 | $227,425 (20.7%) | $285,565 (10.2%) | 0.00 | 81 |
Cadillac's median listing price comes in at 0% of the national average.
Cadillac's average listing price for 2024-01-01 was $285,565, a difference of $26,415 (10.2%) versus the prior year and $-5,465 versus the prior month.
For the 2024-01-01 period, Cadillac had 81 MLS listings, a difference of -8 listings (-9%) versus the prior month and 17 listings (27%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Cadillac (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,587 sqft |
2018-02-01 | 0 days | 1,600 sqft |
2018-03-01 | 0 days | 1,661 sqft |
2018-04-01 | 0 days | 1,649 sqft |
2018-05-01 | 0 days | 1,649 sqft |
2018-06-01 | 0 days | 1,700 sqft |
2018-07-01 | 0 days | 1,749 sqft |
2018-08-01 | 0 days | 1,727 sqft |
2018-09-01 | 0 days | 1,744 sqft |
2018-10-01 | 0 days | 1,774 sqft |
2018-11-01 | 0 days | 1,735 sqft |
2018-12-01 | 0 days | 1,620 sqft |
2019-01-01 | 0 days | 1,621 sqft |
2019-02-01 | 0 days | 1,612 sqft |
2019-03-01 | 0 days | 1,621 sqft |
2019-04-01 | 0 days | 1,593 sqft |
2019-05-01 | 0 days | 1,575 sqft |
2019-06-01 | 0 days | 1,620 sqft |
2019-07-01 | 0 days | 1,746 sqft |
2019-08-01 | 0 days | 1,719 sqft |
2019-09-01 | 0 days | 1,674 sqft |
2019-10-01 | 0 days | 1,695 sqft |
2019-11-01 | 0 days | 1,800 sqft |
2019-12-01 | 0 days | 1,700 sqft |
2020-01-01 | 0 days | 1,637 sqft |
2020-02-01 | 0 days | 1,620 sqft |
2020-03-01 | 0 days | 1,618 sqft |
2020-04-01 | 0 days | 1,645 sqft |
2020-05-01 | 0 days | 1,732 sqft |
2020-06-01 | 0 days | 1,708 sqft |
2020-07-01 | 0 days | 1,608 sqft |
2020-08-01 | 0 days | 1,800 sqft |
2020-09-01 | 0 days | 1,800 sqft |
2020-10-01 | 0 days | 1,713 sqft |
2020-11-01 | 0 days | 1,621 sqft |
2020-12-01 | 0 days | 1,621 sqft |
2021-01-01 | 0 days | 1,514 sqft |
2021-02-01 | 0 days | 1,513 sqft |
2021-03-01 | 0 days | 1,557 sqft |
2021-04-01 | 0 days | 1,687 sqft |
2021-05-01 | 0 days | 1,607 sqft |
2021-06-01 | 0 days | 1,509 sqft |
2021-07-01 | 0 days | 1,456 sqft |
2021-08-01 | 0 days | 1,448 sqft |
2021-09-01 | 0 days | 1,562 sqft |
2021-10-01 | 0 days | 1,573 sqft |
2021-11-01 | 0 days | 1,608 sqft |
2021-12-01 | 0 days | 1,602 sqft |
2022-01-01 | 0 days | 1,565 sqft |
2022-02-01 | 0 days | 1,436 sqft |
2022-03-01 | 0 days | 1,421 sqft |
2022-04-01 | 0 days | 1,410 sqft |
2022-05-01 | 0 days | 1,449 sqft |
2022-06-01 | 0 days | 1,555 sqft |
2022-07-01 | 0 days | 1,686 sqft |
2022-08-01 | 0 days | 1,668 sqft |
2022-09-01 | 0 days | 1,600 sqft |
2022-10-01 | 0 days | 1,574 sqft |
2022-11-01 | 0 days | 1,509 sqft |
2022-12-01 | 0 days | 1,500 sqft |
2023-01-01 | 0 days | 1,558 sqft |
2023-02-01 | 0 days | 1,500 sqft |
2023-03-01 | 0 days | 1,552 sqft |
2023-04-01 | 0 days | 1,523 sqft |
2023-05-01 | 0 days | 1,600 sqft |
2023-06-01 | 0 days | 1,600 sqft |
2023-07-01 | 0 days | 1,504 sqft |
2023-08-01 | 0 days | 1,469 sqft |
2023-09-01 | 0 days | 1,568 sqft |
2023-10-01 | 0 days | 1,585 sqft |
2023-11-01 | 0 days | 1,569 sqft |
2023-12-01 | 0 days | 1,510 sqft |
2024-01-01 | 0 days | 1,433 sqft |
Cadillac's median square footage for active listings during the 2024-01-01 period was 1,433 sqft. One year prior, the average listing was 1,558 sqft.