Houghton USDA Loan Rates, Closing Costs & Stats

Houghton, 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.

    Houghton's 3 lenders originated 10 USDA loans during 2023. The total origination value was $1,160,000, with an average USDA loan value of $116,000.

    Houghton USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Houghton averaged 6.99% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Houghton's average USDA mortgage closing costs are $3,628.

    The average rate for the prior week (2024-04-12) was 7.04% and one month ago for the week of 2024-03-15, the average rate was 7.12%.

    The average rate one year ago was 6.86%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

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

    Houghton 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 Houghton level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    IncredibleBank 4 6.81% $4,082
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.99% $7,652
    Paramount Residential Mortgage Group, Inc. 1 7.63% $5,013

    The top Houghton USDA lender as defined by loan originations is IncredibleBank, with 4 USDA loans originated. Their average total fees are $4,082, which is $3,570 lower than the next largest lender, HOMEBRIDGE FINANCIAL SERVICES, INC..

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Houghton (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 $119,975 (7.6%) $188,822 (17.7%) 0.00 174
    2018-02-01 $124,375 (12.4%) $191,157 (20.2%) 0.00 170
    2018-03-01 $142,450 (19.0%) $205,596 (30.3%) 0.00 170
    2018-04-01 $152,675 (13.2%) $224,633 (28.8%) 0.00 165
    2018-05-01 $153,450 (-3.2%) $223,789 (12.8%) 0.00 183
    2018-06-01 $155,000 (8.5%) $214,782 (8.0%) 0.00 247
    2018-07-01 $153,950 (10.0%) $207,572 (4.1%) 0.00 260
    2018-08-01 $147,500 (6.1%) $203,458 (1.8%) 0.00 264
    2018-09-01 $134,950 (3.9%) $191,065 (-0.4%) 0.00 253
    2018-10-01 $134,900 (-0.8%) $189,905 (-2.9%) 0.00 228
    2018-11-01 $137,975 (-0.9%) $197,870 (-1.6%) 0.00 195
    2018-12-01 $140,950 (10.6%) $199,707 (3.7%) 0.00 167
    2019-01-01 $131,250 (9.4%) $198,650 (5.2%) 0.00 136
    2019-02-01 $130,750 (5.1%) $203,706 (6.6%) 0.00 127
    2019-03-01 $152,043 (6.7%) $223,317 (8.6%) 0.00 124
    2019-04-01 $172,400 (12.9%) $231,191 (2.9%) 0.00 127
    2019-05-01 $163,175 (6.3%) $230,798 (3.1%) 0.00 172
    2019-06-01 $179,000 (15.5%) $227,164 (5.8%) 0.00 214
    2019-07-01 $165,075 (7.2%) $212,059 (2.2%) 0.00 241
    2019-08-01 $156,600 (6.2%) $205,089 (0.8%) 0.00 243
    2019-09-01 $152,325 (12.9%) $199,341 (4.3%) 0.00 241
    2019-10-01 $146,950 (8.9%) $193,118 (1.7%) 0.00 238
    2019-11-01 $139,000 (0.7%) $186,822 (-5.6%) 0.00 207
    2019-12-01 $145,075 (2.9%) $194,571 (-2.6%) 0.00 183
    2020-01-01 $148,850 (13.4%) $193,952 (-2.4%) 0.00 143
    2020-02-01 $153,750 (17.6%) $202,187 (-0.8%) 0.00 126
    2020-03-01 $182,000 (19.7%) $224,898 (0.7%) 0.00 121
    2020-04-01 $170,000 (-1.4%) $220,045 (-4.8%) 0.00 126
    2020-05-01 $167,500 (2.7%) $224,321 (-2.8%) 0.00 131
    2020-06-01 $167,125 (-6.6%) $222,174 (-2.2%) 0.00 143
    2020-07-01 $164,950 (-0.1%) $226,070 (6.6%) 0.00 150
    2020-08-01 $167,450 (6.9%) $224,539 (9.5%) 0.00 142
    2020-09-01 $169,000 (11.0%) $236,115 (18.5%) 0.00 119
    2020-10-01 $139,900 (-4.8%) $237,845 (23.2%) 0.00 91
    2020-11-01 $139,000 (0.0%) $248,014 (32.8%) 0.00 75
    2020-12-01 $149,450 (3.0%) $265,830 (36.6%) 0.00 55
    2021-01-01 $137,450 (-7.7%) $256,662 (32.3%) 0.00 46
    2021-02-01 $144,450 (-6.1%) $290,803 (43.8%) 0.00 41
    2021-03-01 $173,850 (-4.5%) $318,458 (41.6%) 0.00 37
    2021-04-01 $164,525 (-3.2%) $309,376 (40.6%) 0.00 44
    2021-05-01 $171,610 (2.5%) $308,710 (37.6%) 0.00 51
    2021-06-01 $163,625 (-2.1%) $273,068 (22.9%) 0.00 78
    2021-07-01 $180,000 (9.1%) $272,200 (20.4%) 0.00 82
    2021-08-01 $162,725 (-2.8%) $253,190 (12.8%) 0.00 76
    2021-09-01 $147,475 (-12.7%) $237,190 (0.5%) 0.00 68
    2021-10-01 $157,000 (12.2%) $229,631 (-3.5%) 0.00 67
    2021-11-01 $150,000 (7.9%) $285,025 (14.9%) 0.00 54
    2021-12-01 $151,000 (1.0%) $292,740 (10.1%) 0.00 53
    2022-01-01 $145,000 (5.5%) $322,601 (25.7%) 0.00 36
    2022-02-01 $182,450 (26.3%) $463,878 (59.5%) 0.00 18
    2022-03-01 $244,700 (40.8%) $586,496 (84.2%) 0.00 15
    2022-04-01 $232,250 (41.2%) $447,871 (44.8%) 0.00 17
    2022-05-01 $186,175 (8.5%) $410,839 (33.1%) 0.00 23
    2022-06-01 $214,500 (31.1%) $379,879 (39.1%) 0.00 37
    2022-07-01 $247,450 (37.5%) $373,611 (37.3%) 0.00 51
    2022-08-01 $252,400 (55.1%) $357,228 (41.1%) 0.00 57
    2022-09-01 $195,950 (32.9%) $316,628 (33.5%) 0.00 59
    2022-10-01 $177,000 (12.7%) $316,663 (37.9%) 0.00 57
    2022-11-01 $195,500 (30.3%) $329,969 (15.8%) 0.00 49
    2022-12-01 $259,900 (72.1%) $353,161 (20.6%) 0.00 34
    2023-01-01 $242,500 (67.2%) $380,482 (17.9%) 0.00 29
    2023-02-01 $261,250 (43.2%) $302,172 (-34.9%) 0.00 28
    2023-03-01 $263,750 (7.8%) $338,405 (-42.3%) 0.00 32
    2023-04-01 $214,000 (-7.9%) $348,094 (-22.3%) 0.00 35
    2023-05-01 $162,350 (-12.8%) $318,977 (-22.4%) 0.00 38
    2023-06-01 $164,700 (-23.2%) $297,449 (-21.7%) 0.00 48
    2023-07-01 $239,000 (-3.4%) $360,267 (-3.6%) 0.00 54
    2023-08-01 $244,000 (-3.3%) $352,768 (-1.3%) 0.00 65
    2023-09-01 $229,000 (16.9%) $340,048 (7.4%) 0.00 60
    2023-10-01 $204,500 (15.5%) $322,731 (1.9%) 0.00 58
    2023-11-01 $190,125 (-2.8%) $290,733 (-11.9%) 0.00 58
    2023-12-01 $178,000 (-31.5%) $237,303 (-32.8%) 0.00 56
    2024-01-01 $167,250 (-31.0%) $225,335 (-40.8%) 0.00 46
    2024-02-01 $167,000 (-36.1%) $236,219 (-21.8%) 0.00 41
    2024-03-01 $169,900 (-35.6%) $234,152 (-30.8%) 0.00 45
    Houghton's median listing price for 2024-03-01 was $169,900, a difference of $-93,850 (-35.6%) versus the prior year and $2,900 versus the prior month.

    Houghton's median listing price comes in at 0% of the national average.

    Houghton's average listing price for 2024-03-01 was $234,152, a difference of $-104,253 (-30.8%) versus the prior year and $-2,067 versus the prior month.

    For the 2024-03-01 period, Houghton had 45 MLS listings, a difference of 4 listings (10%) versus the prior month and 13 listings (41%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Houghton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,572 sqft
    2018-02-01 0 days 1,568 sqft
    2018-03-01 0 days 1,576 sqft
    2018-04-01 0 days 1,581 sqft
    2018-05-01 0 days 1,566 sqft
    2018-06-01 0 days 1,593 sqft
    2018-07-01 0 days 1,592 sqft
    2018-08-01 0 days 1,579 sqft
    2018-09-01 0 days 1,552 sqft
    2018-10-01 0 days 1,550 sqft
    2018-11-01 0 days 1,540 sqft
    2018-12-01 0 days 1,572 sqft
    2019-01-01 0 days 1,558 sqft
    2019-02-01 0 days 1,578 sqft
    2019-03-01 0 days 1,653 sqft
    2019-04-01 0 days 1,704 sqft
    2019-05-01 0 days 1,693 sqft
    2019-06-01 0 days 1,696 sqft
    2019-07-01 0 days 1,656 sqft
    2019-08-01 0 days 1,665 sqft
    2019-09-01 0 days 1,654 sqft
    2019-10-01 0 days 1,643 sqft
    2019-11-01 0 days 1,649 sqft
    2019-12-01 0 days 1,625 sqft
    2020-01-01 0 days 1,606 sqft
    2020-02-01 0 days 1,588 sqft
    2020-03-01 0 days 1,604 sqft
    2020-04-01 0 days 1,588 sqft
    2020-05-01 0 days 1,672 sqft
    2020-06-01 0 days 1,635 sqft
    2020-07-01 0 days 1,709 sqft
    2020-08-01 0 days 1,672 sqft
    2020-09-01 0 days 1,731 sqft
    2020-10-01 0 days 1,588 sqft
    2020-11-01 0 days 1,537 sqft
    2020-12-01 0 days 1,588 sqft
    2021-01-01 0 days 1,536 sqft
    2021-02-01 0 days 1,575 sqft
    2021-03-01 0 days 1,770 sqft
    2021-04-01 0 days 1,877 sqft
    2021-05-01 0 days 1,861 sqft
    2021-06-01 0 days 1,687 sqft
    2021-07-01 0 days 1,855 sqft
    2021-08-01 0 days 1,810 sqft
    2021-09-01 0 days 1,850 sqft
    2021-10-01 0 days 1,829 sqft
    2021-11-01 0 days 1,827 sqft
    2021-12-01 0 days 1,773 sqft
    2022-01-01 0 days 1,583 sqft
    2022-02-01 0 days 1,468 sqft
    2022-03-01 0 days 1,680 sqft
    2022-04-01 0 days 1,824 sqft
    2022-05-01 0 days 1,628 sqft
    2022-06-01 0 days 1,762 sqft
    2022-07-01 0 days 1,584 sqft
    2022-08-01 0 days 1,737 sqft
    2022-09-01 0 days 1,649 sqft
    2022-10-01 0 days 1,556 sqft
    2022-11-01 0 days 1,624 sqft
    2022-12-01 0 days 1,656 sqft
    2023-01-01 0 days 1,637 sqft
    2023-02-01 0 days 1,653 sqft
    2023-03-01 0 days 1,926 sqft
    2023-04-01 0 days 1,840 sqft
    2023-05-01 0 days 1,702 sqft
    2023-06-01 0 days 1,653 sqft
    2023-07-01 0 days 1,613 sqft
    2023-08-01 0 days 1,438 sqft
    2023-09-01 0 days 1,381 sqft
    2023-10-01 0 days 1,410 sqft
    2023-11-01 0 days 1,379 sqft
    2023-12-01 0 days 1,380 sqft
    2024-01-01 0 days 1,502 sqft
    2024-02-01 0 days 1,446 sqft
    2024-03-01 0 days 1,451 sqft
    Houghton's median listing age (time on market) for 2024-03-01 was 0 days.

    Houghton's median square footage for active listings during the 2024-03-01 period was 1,451 sqft. One year prior, the average listing was 1,926 sqft.