Flint USDA Loan Rates, Closing Costs & Stats

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 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.