Flint USDA Loan Rates, Closing Costs & Stats

FLINT, MI

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    • 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 6.44% for the week of 2023-03-17, compared to the national average (all USDA variants) of 6.497% for the same period.

    Flint's average USDA mortgage closing costs are $5,077.

    The average rate for the prior week (2023-03-10) was 6.56% and one month ago for the week of 2023-02-10, the average rate was 6.52%.

    The average rate one year ago was 4.21%.

    For refis of the same type during the week of 2023-03-17, the average rate was 6.4%.

    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/closing costs 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. Closing Costs
    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 $139,900 (16.7%) $190,527 (15.1%) 0.52 1,036
    2018-02-01 $148,575 (19.0%) $195,942 (15.9%) 0.54 971
    2018-03-01 $154,900 (24.0%) $203,116 (15.3%) 0.54 946
    2018-04-01 $167,450 (28.9%) $214,213 (15.3%) 0.57 956
    2018-05-01 $169,150 (20.9%) $216,751 (12.5%) 0.56 1,061
    2018-06-01 $168,900 (14.4%) $212,623 (8.3%) 0.56 1,123
    2018-07-01 $169,450 (13.0%) $210,540 (7.6%) 0.57 1,190
    2018-08-01 $165,000 (10.0%) $208,239 (7.1%) 0.55 1,345
    2018-09-01 $162,500 (8.3%) $206,542 (6.5%) 0.55 1,420
    2018-10-01 $159,000 (1.6%) $200,838 (1.1%) 0.54 1,415
    2018-11-01 $151,450 (1.0%) $195,254 (-0.1%) 0.51 1,395
    2018-12-01 $144,850 (3.5%) $188,912 (-0.4%) 0.50 1,326
    2019-01-01 $144,150 (3.0%) $188,133 (-1.3%) 0.50 1,210
    2019-02-01 $147,400 (-0.8%) $191,966 (-2.0%) 0.50 1,108
    2019-03-01 $156,371 (1.0%) $202,154 (-0.5%) 0.51 1,060
    2019-04-01 $165,000 (-1.5%) $215,848 (0.8%) 0.52 1,020
    2019-05-01 $179,900 (6.4%) $227,964 (5.2%) 0.56 1,047
    2019-06-01 $179,900 (6.5%) $226,315 (6.4%) 0.56 1,188
    2019-07-01 $182,400 (7.6%) $228,532 (8.6%) 0.57 1,254
    2019-08-01 $180,809 (9.6%) $223,033 (7.1%) 0.57 1,293
    2019-09-01 $174,673 (7.5%) $213,808 (3.5%) 0.56 1,358
    2019-10-01 $169,450 (6.6%) $206,302 (2.7%) 0.55 1,404
    2019-11-01 $169,695 (12.1%) $210,376 (7.8%) 0.56 1,296
    2019-12-01 $165,123 (14.0%) $211,987 (12.2%) 0.55 1,196
    2020-01-01 $165,475 (14.8%) $214,870 (14.2%) 0.55 1,084
    2020-02-01 $168,900 (14.6%) $216,181 (12.6%) 0.55 1,005
    2020-03-01 $179,900 (15.1%) $225,380 (11.5%) 0.56 946
    2020-04-01 $182,240 (10.5%) $225,979 (4.7%) 0.57 876
    2020-05-01 $189,850 (5.5%) $233,125 (2.3%) 0.58 870
    2020-06-01 $197,375 (9.7%) $250,995 (10.9%) 0.58 762
    2020-07-01 $199,900 (9.6%) $261,541 (14.4%) 0.58 689
    2020-08-01 $209,900 (16.1%) $274,922 (23.3%) 0.60 668
    2020-09-01 $204,975 (17.4%) $268,316 (25.5%) 0.59 650
    2020-10-01 $199,900 (18.0%) $260,757 (26.4%) 0.57 627
    2020-11-01 $199,900 (17.8%) $262,430 (24.7%) 0.58 570
    2020-12-01 $189,950 (15.0%) $260,205 (22.8%) 0.56 526
    2021-01-01 $179,900 (8.7%) $258,324 (20.2%) 0.54 469
    2021-02-01 $175,000 (3.6%) $271,362 (25.5%) 0.51 405
    2021-03-01 $179,900 (0.0%) $261,576 (16.1%) 0.51 426
    2021-04-01 $179,900 (-1.3%) $260,140 (15.1%) 0.49 465
    2021-05-01 $185,000 (-2.6%) $255,205 (9.5%) 0.49 506
    2021-06-01 $192,500 (-2.5%) $257,043 (2.4%) 0.51 591
    2021-07-01 $199,900 (0.0%) $269,692 (3.1%) 0.53 651
    2021-08-01 $209,925 (0.0%) $264,262 (-3.9%) 0.56 735
    2021-09-01 $189,800 (-7.4%) $248,279 (-7.5%) 0.51 765
    2021-10-01 $189,900 (-5.0%) $252,047 (-3.3%) 0.51 789
    2021-11-01 $176,450 (-11.7%) $245,392 (-6.5%) 0.47 734
    2021-12-01 $174,900 (-7.9%) $244,484 (-6.0%) 0.47 656
    2022-01-01 $172,400 (-4.2%) $241,668 (-6.5%) 0.47 598
    2022-02-01 $175,950 (0.5%) $258,750 (-4.7%) 0.46 539
    2022-03-01 $199,950 (11.2%) $262,465 (0.3%) 0.50 553
    2022-04-01 $214,900 (19.5%) $267,037 (2.7%) 0.51 575
    2022-05-01 $219,900 (18.9%) $276,075 (8.2%) 0.50 645
    2022-06-01 $234,975 (22.1%) $287,652 (11.9%) 0.52 726
    2022-07-01 $220,000 (10.1%) $275,315 (2.1%) 0.49 960
    2022-08-01 $219,900 (4.8%) $266,990 (1.0%) 0.51 1,026
    2022-09-01 $214,900 (13.2%) $266,044 (7.2%) 0.50 1,007
    2022-10-01 $209,900 (10.5%) $259,217 (2.8%) 0.49 1,046
    2022-11-01 $198,475 (12.5%) $251,224 (2.4%) 0.48 1,049
    2022-12-01 $185,000 (5.8%) $244,001 (-0.2%) 0.46 947
    2023-01-01 $181,925 (5.5%) $247,240 (2.3%) 0.45 821
    2023-02-01 $189,338 (7.6%) $257,628 (-0.4%) 0.46 746
    Flint's median listing price for 2023-02-01 was $189,338, a difference of $13,388 (7.6%) versus the prior year and $7,413 versus the prior month.

    Flint's median listing price comes in at 46% of the national average.

    Flint's average listing price for 2023-02-01 was $257,628, a difference of $-1,122 (-0.4%) versus the prior year and $10,388 versus the prior month.

    For the 2023-02-01 period, Flint had 746 MLS listings, a difference of -75 listings (-9%) versus the prior month and 207 listings (38%) 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 83 days 1,511 sqft
    2018-02-01 83 days 1,551 sqft
    2018-03-01 74 days 1,566 sqft
    2018-04-01 59 days 1,615 sqft
    2018-05-01 48 days 1,624 sqft
    2018-06-01 44 days 1,600 sqft
    2018-07-01 47 days 1,608 sqft
    2018-08-01 47 days 1,605 sqft
    2018-09-01 51 days 1,600 sqft
    2018-10-01 56 days 1,586 sqft
    2018-11-01 60 days 1,550 sqft
    2018-12-01 69 days 1,500 sqft
    2019-01-01 80 days 1,498 sqft
    2019-02-01 81 days 1,500 sqft
    2019-03-01 65 days 1,540 sqft
    2019-04-01 53 days 1,576 sqft
    2019-05-01 49 days 1,601 sqft
    2019-06-01 44 days 1,614 sqft
    2019-07-01 46 days 1,628 sqft
    2019-08-01 51 days 1,614 sqft
    2019-09-01 54 days 1,594 sqft
    2019-10-01 56 days 1,570 sqft
    2019-11-01 64 days 1,561 sqft
    2019-12-01 71 days 1,578 sqft
    2020-01-01 86 days 1,599 sqft
    2020-02-01 80 days 1,600 sqft
    2020-03-01 62 days 1,620 sqft
    2020-04-01 74 days 1,623 sqft
    2020-05-01 80 days 1,618 sqft
    2020-06-01 53 days 1,676 sqft
    2020-07-01 48 days 1,708 sqft
    2020-08-01 40 days 1,766 sqft
    2020-09-01 39 days 1,700 sqft
    2020-10-01 37 days 1,691 sqft
    2020-11-01 46 days 1,692 sqft
    2020-12-01 54 days 1,603 sqft
    2021-01-01 52 days 1,521 sqft
    2021-02-01 48 days 1,457 sqft
    2021-03-01 37 days 1,465 sqft
    2021-04-01 32 days 1,462 sqft
    2021-05-01 32 days 1,481 sqft
    2021-06-01 31 days 1,500 sqft
    2021-07-01 31 days 1,576 sqft
    2021-08-01 32 days 1,494 sqft
    2021-09-01 37 days 1,448 sqft
    2021-10-01 39 days 1,478 sqft
    2021-11-01 49 days 1,419 sqft
    2021-12-01 59 days 1,422 sqft
    2022-01-01 67 days 1,418 sqft
    2022-02-01 50 days 1,434 sqft
    2022-03-01 35 days 1,451 sqft
    2022-04-01 37 days 1,451 sqft
    2022-05-01 37 days 1,495 sqft
    2022-06-01 34 days 1,537 sqft
    2022-07-01 32 days 1,536 sqft
    2022-08-01 41 days 1,546 sqft
    2022-09-01 50 days 1,544 sqft
    2022-10-01 51 days 1,516 sqft
    2022-11-01 52 days 1,469 sqft
    2022-12-01 64 days 1,420 sqft
    2023-01-01 74 days 1,400 sqft
    2023-02-01 76 days 1,428 sqft
    Flint's median listing age (time on market) for 2023-02-01 was 76 days. This is 51% longer than the same period one year ago.

    Flint's median square footage for active listings during the 2023-02-01 period was 1,428 sqft. One year prior, the average listing was 1,434 sqft.