Escanaba USDA Loan Rates, Closing Costs & Stats

Escanaba, 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.

Escanaba's 3 lenders originated 4 USDA loans during 2023. The total origination value was $530,000, with an average USDA loan value of $132,500.

Escanaba USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Escanaba averaged 6.84% for the week of 2024-03-22, compared to the national average (all USDA variants) of 6.674% for the same period.

Escanaba's average USDA mortgage closing costs are $3,551.

The average rate for the prior week (2024-03-15) was 6.66% and one month ago for the week of 2024-02-16, the average rate was 6.55%.

The average rate one year ago was 6.64%.

For refis of the same type during the week of 2024-03-22, the average rate was 6.47%.

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

Escanaba 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 Escanaba level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FIRST CENTENNIAL MORTGAGE CORPORATION 2 6.06% $5,204
AMERICAN FINANCIAL NETWORK, INC. 1 5.25% $7,350
Paramount Residential Mortgage Group, Inc. 1 7.00% $6,051

The top Escanaba USDA lender as defined by loan originations is FIRST CENTENNIAL MORTGAGE CORPORATION, with 2 USDA loans originated. Their average total fees are $5,204, which is $2,145 lower than the next largest lender, AMERICAN FINANCIAL NETWORK, INC..

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Escanaba (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 $117,350 (5.6%) $158,826 (6.7%) 0.00 169
2018-02-01 $130,975 (15.2%) $171,236 (13.9%) 0.00 144
2018-03-01 $136,450 (18.7%) $159,905 (2.5%) 0.00 143
2018-04-01 $139,450 (21.3%) $166,076 (5.0%) 0.00 149
2018-05-01 $139,925 (17.8%) $165,807 (-1.8%) 0.00 186
2018-06-01 $139,900 (15.7%) $167,511 (-1.3%) 0.00 238
2018-07-01 $129,700 (3.8%) $160,089 (-6.7%) 0.00 250
2018-08-01 $129,950 (4.6%) $159,047 (-5.8%) 0.00 261
2018-09-01 $124,400 (0.7%) $158,663 (-6.7%) 0.00 259
2018-10-01 $118,700 (-0.8%) $152,201 (-9.4%) 0.00 253
2018-11-01 $116,375 (-5.0%) $152,284 (-7.0%) 0.00 232
2018-12-01 $117,000 (-6.3%) $146,751 (-9.8%) 0.00 206
2019-01-01 $104,750 (-10.7%) $143,493 (-9.7%) 0.00 181
2019-02-01 $115,050 (-12.2%) $151,962 (-11.3%) 0.00 169
2019-03-01 $127,957 (-6.2%) $164,596 (2.9%) 0.00 164
2019-04-01 $141,075 (1.2%) $178,837 (7.7%) 0.00 161
2019-05-01 $144,100 (3.0%) $177,225 (6.9%) 0.00 169
2019-06-01 $149,900 (7.2%) $182,382 (8.9%) 0.00 188
2019-07-01 $143,700 (10.8%) $178,857 (11.7%) 0.00 199
2019-08-01 $135,836 (4.5%) $175,290 (10.2%) 0.00 213
2019-09-01 $129,741 (4.3%) $169,440 (6.8%) 0.00 220
2019-10-01 $124,975 (5.3%) $165,182 (8.5%) 0.00 228
2019-11-01 $124,900 (7.3%) $165,768 (8.9%) 0.00 219
2019-12-01 $120,000 (2.6%) $167,022 (13.8%) 0.00 196
2020-01-01 $119,925 (14.5%) $170,384 (18.7%) 0.00 170
2020-02-01 $119,900 (4.2%) $169,064 (11.3%) 0.00 163
2020-03-01 $118,725 (-7.2%) $173,426 (5.4%) 0.00 159
2020-04-01 $129,225 (-8.4%) $172,216 (-3.7%) 0.00 148
2020-05-01 $124,500 (-13.6%) $179,682 (1.4%) 0.00 148
2020-06-01 $142,225 (-5.1%) $200,254 (9.8%) 0.00 137
2020-07-01 $139,900 (-2.6%) $201,021 (12.4%) 0.00 129
2020-08-01 $120,000 (-11.7%) $192,666 (9.9%) 0.00 137
2020-09-01 $126,175 (-2.8%) $198,642 (17.2%) 0.00 125
2020-10-01 $137,750 (10.2%) $198,596 (20.2%) 0.00 104
2020-11-01 $128,350 (2.8%) $192,589 (16.2%) 0.00 97
2020-12-01 $120,300 (0.3%) $193,201 (15.7%) 0.00 97
2021-01-01 $118,400 (-1.3%) $186,207 (9.3%) 0.00 76
2021-02-01 $110,500 (-7.8%) $197,443 (16.8%) 0.00 58
2021-03-01 $161,475 (36.0%) $244,225 (40.8%) 0.00 44
2021-04-01 $184,450 (42.7%) $272,932 (58.5%) 0.00 45
2021-05-01 $159,950 (28.5%) $265,662 (47.9%) 0.00 49
2021-06-01 $197,450 (38.8%) $274,425 (37.0%) 0.00 61
2021-07-01 $184,900 (32.2%) $264,371 (31.5%) 0.00 70
2021-08-01 $166,125 (38.4%) $249,497 (29.5%) 0.00 78
2021-09-01 $164,925 (30.7%) $258,308 (30.0%) 0.00 78
2021-10-01 $159,900 (16.1%) $275,803 (38.9%) 0.00 71
2021-11-01 $159,150 (24.0%) $261,125 (35.6%) 0.00 64
2021-12-01 $161,150 (34.0%) $273,592 (41.6%) 0.00 54
2022-01-01 $169,900 (43.5%) $343,850 (84.7%) 0.00 36
2022-02-01 $189,900 (71.9%) $348,487 (76.5%) 0.00 32
2022-03-01 $182,625 (13.1%) $354,660 (45.2%) 0.00 30
2022-04-01 $196,200 (6.4%) $377,265 (38.2%) 0.00 37
2022-05-01 $259,675 (62.4%) $354,507 (33.4%) 0.00 46
2022-06-01 $215,950 (9.4%) $329,266 (20.0%) 0.00 49
2022-07-01 $254,950 (37.9%) $350,098 (32.4%) 0.00 57
2022-08-01 $277,475 (67.0%) $349,198 (40.0%) 0.00 69
2022-09-01 $259,950 (57.6%) $343,683 (33.1%) 0.00 68
2022-10-01 $204,750 (28.1%) $287,008 (4.1%) 0.00 68
2022-11-01 $177,975 (11.8%) $275,812 (5.6%) 0.00 62
2022-12-01 $179,000 (11.1%) $290,293 (6.1%) 0.00 57
2023-01-01 $169,450 (-0.3%) $287,464 (-16.4%) 0.00 48
2023-02-01 $219,250 (15.5%) $344,180 (-1.2%) 0.00 37
2023-03-01 $400,225 (119.2%) $425,539 (20.0%) 0.00 32
2023-04-01 $415,000 (111.5%) $428,408 (13.6%) 0.00 26
2023-05-01 $317,625 (22.3%) $372,838 (5.2%) 0.00 36
2023-06-01 $290,000 (34.3%) $376,559 (14.4%) 0.00 44
2023-07-01 $293,250 (15.0%) $410,013 (17.1%) 0.00 46
2023-08-01 $314,750 (13.4%) $416,632 (19.3%) 0.00 48
2023-09-01 $279,000 (7.3%) $384,885 (12.0%) 0.00 59
2023-10-01 $255,000 (24.5%) $360,811 (25.7%) 0.00 65
2023-11-01 $204,675 (15.0%) $355,612 (28.9%) 0.00 63
2023-12-01 $199,900 (11.7%) $345,530 (19.0%) 0.00 63
2024-01-01 $224,750 (32.6%) $370,940 (29.0%) 0.00 54
2024-02-01 $225,000 (2.6%) $390,482 (13.5%) 0.00 57
Escanaba's median listing price for 2024-02-01 was $225,000, a difference of $5,750 (2.6%) versus the prior year and $250 versus the prior month.

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

Escanaba's average listing price for 2024-02-01 was $390,482, a difference of $46,302 (13.5%) versus the prior year and $19,542 versus the prior month.

For the 2024-02-01 period, Escanaba had 57 MLS listings, a difference of 3 listings (6%) versus the prior month and 20 listings (54%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Escanaba (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,447 sqft
2018-02-01 0 days 1,536 sqft
2018-03-01 0 days 1,506 sqft
2018-04-01 0 days 1,499 sqft
2018-05-01 0 days 1,465 sqft
2018-06-01 0 days 1,445 sqft
2018-07-01 0 days 1,484 sqft
2018-08-01 0 days 1,484 sqft
2018-09-01 0 days 1,484 sqft
2018-10-01 0 days 1,442 sqft
2018-11-01 0 days 1,423 sqft
2018-12-01 0 days 1,472 sqft
2019-01-01 0 days 1,389 sqft
2019-02-01 0 days 1,441 sqft
2019-03-01 0 days 1,470 sqft
2019-04-01 0 days 1,492 sqft
2019-05-01 0 days 1,525 sqft
2019-06-01 0 days 1,568 sqft
2019-07-01 0 days 1,539 sqft
2019-08-01 0 days 1,529 sqft
2019-09-01 0 days 1,524 sqft
2019-10-01 0 days 1,520 sqft
2019-11-01 0 days 1,501 sqft
2019-12-01 0 days 1,505 sqft
2020-01-01 0 days 1,497 sqft
2020-02-01 0 days 1,482 sqft
2020-03-01 0 days 1,480 sqft
2020-04-01 0 days 1,489 sqft
2020-05-01 0 days 1,493 sqft
2020-06-01 0 days 1,503 sqft
2020-07-01 0 days 1,503 sqft
2020-08-01 0 days 1,491 sqft
2020-09-01 0 days 1,520 sqft
2020-10-01 0 days 1,522 sqft
2020-11-01 0 days 1,489 sqft
2020-12-01 0 days 1,491 sqft
2021-01-01 0 days 1,500 sqft
2021-02-01 0 days 1,570 sqft
2021-03-01 0 days 1,600 sqft
2021-04-01 0 days 1,546 sqft
2021-05-01 0 days 1,499 sqft
2021-06-01 0 days 1,462 sqft
2021-07-01 0 days 1,545 sqft
2021-08-01 0 days 1,727 sqft
2021-09-01 0 days 1,699 sqft
2021-10-01 0 days 1,648 sqft
2021-11-01 0 days 1,526 sqft
2021-12-01 0 days 1,668 sqft
2022-01-01 0 days 1,497 sqft
2022-02-01 0 days 1,416 sqft
2022-03-01 0 days 1,528 sqft
2022-04-01 0 days 1,875 sqft
2022-05-01 0 days 1,829 sqft
2022-06-01 0 days 1,840 sqft
2022-07-01 0 days 1,870 sqft
2022-08-01 0 days 1,859 sqft
2022-09-01 0 days 1,826 sqft
2022-10-01 0 days 1,808 sqft
2022-11-01 0 days 1,713 sqft
2022-12-01 0 days 1,672 sqft
2023-01-01 0 days 1,535 sqft
2023-02-01 0 days 1,717 sqft
2023-03-01 0 days 2,019 sqft
2023-04-01 0 days 1,829 sqft
2023-05-01 0 days 1,872 sqft
2023-06-01 0 days 1,844 sqft
2023-07-01 0 days 1,847 sqft
2023-08-01 0 days 1,890 sqft
2023-09-01 0 days 1,790 sqft
2023-10-01 0 days 1,742 sqft
2023-11-01 0 days 1,788 sqft
2023-12-01 0 days 1,792 sqft
2024-01-01 0 days 1,846 sqft
2024-02-01 0 days 1,810 sqft
Escanaba's median listing age (time on market) for 2024-02-01 was 0 days.

Escanaba's median square footage for active listings during the 2024-02-01 period was 1,810 sqft. One year prior, the average listing was 1,717 sqft.