Flint USDA Loans

FLINT, 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.

Flint's 50 lenders originated 316 USDA loans during 2021. The total origination value was $51,680,000, with an average USDA loan value of $163,544.

Flint USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Flint averaged 5.24% 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 5.27% and one month ago for the week of 2022-04-08, the average rate was 4.93%.

The average rate one year ago was 3.04%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.3%.

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

Flint 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 Flint level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
J. VIRGIL, INC. 70 3.12% $6,448
MID AMERICA MORTGAGE, INC. 31 3.27% $3,992
Preston Home Loans Inc 27 3.11% $5,179
MORTGAGE 1 INCORPORATED 16 3.15% $6,497
Flagstar Bank, FSB 8 3.06% $4,022
PLAZA HOME MORTGAGE, INC. 8 3.06% $5,413
CALIBER HOME LOANS, INC. 8 2.75% $6,088
UNION HOME MORTGAGE CORP. 8 2.70% $4,513
ROSS MORTGAGE CORPORATION 7 3.30% $5,714
HOME POINT FINANCIAL CORPORATION 6 2.87% $4,534
Frankenmuth Credit Union 6 3.04% $4,148
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 5 3.25% $5,312
UNITED WHOLESALE MORTGAGE, LLC 5 2.90% $5,659
STAUNTON FINANCIAL, INC. 4 3.13% $5,358
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 4 3.09% $8,111
BLG HOLDINGS, INC. 4 2.84% $6,134
SUCCESS MORTGAGE PARTNERS, INC. 4 3.25% $5,831
ACADEMY MORTGAGE CORPORATION 4 3.63% $6,421
CROSSCOUNTRY MORTGAGE, LLC 3 2.83% $4,293
Sierra Pacific Mortgage Company, Inc. 3 2.58% $8,320
UNIVERSITY LENDING GROUP, LLC 2 2.94% $5,996
AMERIFIRST FINANCIAL CORPORATION 2 3.38% $5,929
Dort Financial Credit Union 2 3.00% $3,576
ELGA CREDIT UNION 2 2.88% $4,943
GUARANTEED RATE, INC. 2 3.56% $6,530
LAKE MICHIGAN CREDIT UNION 2 3.19% $4,503
Paramount Residential Mortgage Group, Inc. 2 3.00% $8,986
PENNYMAC LOAN SERVICES, LLC 2 2.75% $4,519
Sunflower Bank 2 3.00% $5,002
TOWNE MORTGAGE COMPANY 2 3.25% $4,227
Platinum Home Mortgage Corporation 1 2.99% $6,240
Isabella Bank 1 3.50% $4,065
INSPIRE HOME LOANS INC. 1 2.75% $5,420
First Savings Bank 1 3.50% $5,284
RUOFF MORTGAGE COMPANY, INC. 1 3.50% $4,529
SECURITYNATIONAL MORTGAGE COMPANY 1 3.63% $6,637
First Guaranty Mortgage Corporation 1 2.75% $6,610
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.38% $5,432
Carrington Mortgage Services, LLC 1 2.75% $8,567
Bank of England 1 3.50% $5,690
SUN WEST MORTGAGE COMPANY, INC. 1 2.75% $3,129
TCF National Bank 1 2.38% $4,727
TEAM ONE CREDIT UNION 1 2.88% $0
The Dart Bank 1 2.88% $3,661
The Huntington National Bank 1 2.63% $4,579
TOP FLITE FINANCIAL, INC. 1 3.00% $7,323
MICHIGAN MUTUAL, INC. 1 3.13% $6,370
NATIONS RELIABLE LENDING, LLC 1 3.25% $8,230
Bank of Ann Arbor 1 3.13% $4,730
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.13% $6,990

The top Flint USDA lender as defined by loan originations is J. VIRGIL, INC., with 70 USDA loans originated. Their average total fees are $6,448, which is $2,456 higher than the next largest lender, MID AMERICA MORTGAGE, INC..

The lowest fee Flint USDA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($3,992), Preston Home Loans Inc ($5,179), J. VIRGIL, INC. ($6,448), MORTGAGE 1 INCORPORATED ($6,497) and .

The lowest rate Flint USDA lenders (with over 10 loans originated) are Preston Home Loans Inc (3.11%), J. VIRGIL, INC. (3.12%), MORTGAGE 1 INCORPORATED (3.15%), MID AMERICA MORTGAGE, INC. (3.27%) and .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Flint (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 $154,900 (24.0%) $207,999 (20.6%) 0.57 1,153
2018-02-01 $158,450 (22.9%) $211,984 (20.1%) 0.57 1,098
2018-03-01 $164,900 (26.9%) $220,737 (19.9%) 0.57 1,053
2018-04-01 $176,450 (26.5%) $232,395 (16.6%) 0.59 1,067
2018-05-01 $178,250 (19.7%) $235,955 (13.9%) 0.59 1,186
2018-06-01 $178,900 (17.3%) $232,029 (9.8%) 0.60 1,269
2018-07-01 $175,700 (9.9%) $224,664 (6.3%) 0.59 1,305
2018-08-01 $174,900 (9.4%) $224,112 (7.3%) 0.58 1,478
2018-09-01 $169,900 (6.3%) $220,424 (5.6%) 0.57 1,553
2018-10-01 $168,350 (3.7%) $215,971 (0.6%) 0.56 1,545
2018-11-01 $159,450 (-0.3%) $208,627 (-1.3%) 0.53 1,521
2018-12-01 $149,900 (-2.4%) $200,449 (-3.6%) 0.51 1,430
2019-01-01 $149,450 (-3.5%) $198,701 (-4.5%) 0.52 1,317
2019-02-01 $155,950 (-1.6%) $207,355 (-2.2%) 0.52 1,206
2019-03-01 $165,943 (0.6%) $215,975 (-2.2%) 0.54 1,144
2019-04-01 $176,500 (0.0%) $229,519 (-1.2%) 0.56 1,098
2019-05-01 $189,900 (6.5%) $241,422 (2.3%) 0.59 1,140
2019-06-01 $189,900 (6.2%) $239,235 (3.1%) 0.58 1,280
2019-07-01 $189,900 (8.1%) $239,618 (6.7%) 0.59 1,369
2019-08-01 $185,657 (6.2%) $232,657 (3.8%) 0.58 1,428
2019-09-01 $179,950 (5.9%) $224,632 (1.9%) 0.57 1,503
2019-10-01 $175,950 (4.5%) $218,862 (1.3%) 0.56 1,522
2019-11-01 $175,000 (9.8%) $221,668 (6.3%) 0.56 1,409
2019-12-01 $174,900 (16.7%) $224,680 (12.1%) 0.58 1,300
2020-01-01 $174,995 (17.1%) $227,926 (14.7%) 0.58 1,177
2020-02-01 $175,000 (12.2%) $227,084 (9.5%) 0.56 1,059
2020-03-01 $188,990 (13.9%) $240,856 (11.5%) 0.59 1,022
2020-04-01 $194,195 (10.0%) $240,495 (4.8%) 0.60 954
2020-05-01 $199,900 (5.3%) $251,076 (4.0%) 0.61 943
2020-06-01 $209,950 (10.6%) $272,843 (14.1%) 0.61 822
2020-07-01 $218,950 (15.3%) $289,663 (20.9%) 0.63 743
2020-08-01 $220,000 (18.5%) $304,158 (30.7%) 0.63 712
2020-09-01 $214,995 (19.5%) $292,418 (30.2%) 0.61 688
2020-10-01 $214,900 (22.1%) $284,416 (30.0%) 0.61 654
2020-11-01 $214,900 (22.8%) $283,257 (27.8%) 0.62 600
2020-12-01 $194,995 (11.5%) $280,768 (25.0%) 0.57 551
2021-01-01 $189,900 (8.5%) $295,176 (29.5%) 0.56 497
2021-02-01 $186,950 (6.8%) $297,191 (30.9%) 0.54 426
2021-03-01 $185,000 (-2.1%) $285,259 (18.4%) 0.52 446
2021-04-01 $187,450 (-3.5%) $286,011 (18.9%) 0.50 482
2021-05-01 $199,900 (0.0%) $277,759 (10.6%) 0.53 530
2021-06-01 $212,450 (1.2%) $287,279 (5.3%) 0.55 631
2021-07-01 $217,500 (-0.7%) $291,033 (0.5%) 0.56 681
2021-08-01 $222,450 (1.1%) $282,999 (-7.0%) 0.58 775
2021-09-01 $199,450 (-7.2%) $269,049 (-8.0%) 0.52 812
2021-10-01 $199,900 (-7.0%) $269,453 (-5.3%) 0.53 832
2021-11-01 $183,700 (-14.5%) $260,458 (-8.1%) 0.48 763
2021-12-01 $183,900 (-5.7%) $255,779 (-8.9%) 0.49 688
2022-01-01 $184,900 (-2.6%) $250,490 (-15.1%) 0.49 617
2022-02-01 $182,400 (-2.4%) $265,911 (-10.5%) 0.46 556
2022-03-01 $212,450 (14.8%) $274,507 (-3.8%) 0.52 574
2022-04-01 $224,900 (20.0%) $277,578 (-3.0%) 0.53 592
Flint's median listing price for 2022-04-01 was $224,900, a difference of $37,450 (20.0%) versus the prior year and $12,450 versus the prior month.

Flint's median listing price comes in at 53% of the national average.

Flint's average listing price for 2022-04-01 was $277,578, a difference of $-8,433 (-3.0%) versus the prior year and $3,071 versus the prior month.

For the 2022-04-01 period, Flint had 592 MLS listings, a difference of 18 listings (3%) versus the prior month and 110 listings (23%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Flint (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 86 days 1,569 sqft
2018-02-01 85 days 1,588 sqft
2018-03-01 80 days 1,600 sqft
2018-04-01 64 days 1,642 sqft
2018-05-01 49 days 1,651 sqft
2018-06-01 46 days 1,644 sqft
2018-07-01 49 days 1,641 sqft
2018-08-01 46 days 1,641 sqft
2018-09-01 48 days 1,620 sqft
2018-10-01 56 days 1,600 sqft
2018-11-01 59 days 1,567 sqft
2018-12-01 68 days 1,516 sqft
2019-01-01 80 days 1,504 sqft
2019-02-01 78 days 1,520 sqft
2019-03-01 39 days 1,565 sqft
2019-04-01 41 days 1,600 sqft
2019-05-01 46 days 1,626 sqft
2019-06-01 42 days 1,640 sqft
2019-07-01 43 days 1,651 sqft
2019-08-01 50 days 1,628 sqft
2019-09-01 52 days 1,617 sqft
2019-10-01 55 days 1,598 sqft
2019-11-01 63 days 1,597 sqft
2019-12-01 70 days 1,600 sqft
2020-01-01 83 days 1,613 sqft
2020-02-01 80 days 1,607 sqft
2020-03-01 63 days 1,650 sqft
2020-04-01 72 days 1,650 sqft
2020-05-01 78 days 1,650 sqft
2020-06-01 49 days 1,735 sqft
2020-07-01 44 days 1,784 sqft
2020-08-01 39 days 1,802 sqft
2020-09-01 39 days 1,731 sqft
2020-10-01 37 days 1,726 sqft
2020-11-01 44 days 1,740 sqft
2020-12-01 52 days 1,638 sqft
2021-01-01 52 days 1,603 sqft
2021-02-01 50 days 1,506 sqft
2021-03-01 40 days 1,508 sqft
2021-04-01 37 days 1,502 sqft
2021-05-01 36 days 1,526 sqft
2021-06-01 32 days 1,558 sqft
2021-07-01 34 days 1,603 sqft
2021-08-01 32 days 1,511 sqft
2021-09-01 37 days 1,494 sqft
2021-10-01 42 days 1,500 sqft
2021-11-01 48 days 1,438 sqft
2021-12-01 58 days 1,435 sqft
2022-01-01 65 days 1,430 sqft
2022-02-01 50 days 1,447 sqft
2022-03-01 32 days 1,478 sqft
2022-04-01 37 days 1,476 sqft
Flint's median listing age (time on market) for 2022-04-01 was 37 days. This is 0% longer than the same period one year ago.

Flint's median square footage for active listings during the 2022-04-01 period was 1,476 sqft. One year prior, the average listing was 1,502 sqft.