Flint USDA Loans

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 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.