Grand Rapids USDA Loan Rates, Closing Costs & Stats

GRAND RAPIDS-KENTWOOD, 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.

Grand Rapids's 24 lenders originated 42 USDA loans during 2024. The total origination value was $9,020,000, with an average USDA loan value of $214,762.

Grand Rapids USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Grand Rapids averaged 0.31% for the week of 2025-06-20, compared to the national average (all USDA variants) of 0% for the same period.

Grand Rapids's average USDA mortgage closing costs are $4,743.

The average rate for the prior week (2025-06-13) was 6.61% and one month ago for the week of 2025-05-16, the average rate was 6.67%.

The average rate one year ago was 6.89%.

For refis of the same type during the week of 2025-06-20, the average rate was -0.15%.

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

Grand Rapids 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 Grand Rapids level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
AMERICAN PACIFIC MORTGAGE CORPORATION 5 6.58% $10,180
Flagstar Bank, FSB 4 7.16% $5,146
GUILD MORTGAGE COMPANY 4 6.59% $7,062
MORTGAGE 1 INCORPORATED 3 6.29% $10,486
UNION HOME MORTGAGE CORP. 3 7.04% $8,059
UNITED WHOLESALE MORTGAGE, LLC 2 6.17% $7,719
VAN DYK MORTGAGE CORPORATION 2 7.13% $4,413
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $4,567
HOMESTEAD FUNDING CORP. 1 6.38% $6,105
Independent Bank 1 6.50% $2,217
Isabella Bank 1 6.00% $3,808
MMS MORTGAGE SERVICES, LTD. 1 6.99% $3,705
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.00% $9,261
Northpointe Bank 1 5.25% $9,184
PFCU 1 6.88% $5,412
PLAZA HOME MORTGAGE, INC. 1 6.99% $3,155
PREFERRED CREDIT UNION 1 6.88% $6,369
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $6,571
SUCCESS MORTGAGE PARTNERS, INC. 1 5.63% $3,515
The Huntington National Bank 1 6.88% $5,094
TOWNE MORTGAGE COMPANY 1 6.13% $6,273
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $7,939
CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $7,303
BM Real Estate Services, Inc. 1 6.75% $6,567

The top Grand Rapids USDA lender as defined by loan originations is AMERICAN PACIFIC MORTGAGE CORPORATION, with 5 USDA loans originated. Their average total fees are $10,180, which is $5,033 higher than the next largest lender, Flagstar Bank, FSB.

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

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