Jackson USDA Loan Rates, Closing Costs & Stats

JACKSON, 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.

Jackson's 13 lenders originated 27 USDA loans during 2023. The total origination value was $4,915,000, with an average USDA loan value of $182,037.

Jackson USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Jackson averaged 6.73% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Jackson's average USDA mortgage closing costs are $4,976.

The average rate for the prior week (2024-04-05) was 6.85% and one month ago for the week of 2024-03-08, the average rate was 6.81%.

The average rate one year ago was 6.42%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.89%.

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

Jackson 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 Jackson level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
MORTGAGE 1 INCORPORATED 7 6.44% $7,604
UNION HOME MORTGAGE CORP. 3 6.92% $7,758
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.04% $6,844
GVC MORTGAGE, INC. 3 6.92% $6,169
CALIBER HOME LOANS, INC. 2 6.50% $6,239
TOWNE MORTGAGE COMPANY 2 6.88% $8,531
HOMESIDE FINANCIAL, LLC 1 7.63% $9,767
HOWARD HANNA FINANCIAL SERVICES, INC. 1 6.63% $5,635
STAUNTON FINANCIAL, INC. 1 6.63% $4,312
CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $7,191
Flagstar Bank, FSB 1 6.75% $7,453
FBC MORTGAGE, LLC 1 5.50% $6,582
BLG HOLDINGS, INC. 1 7.38% $9,572

The top Jackson USDA lender as defined by loan originations is MORTGAGE 1 INCORPORATED, with 7 USDA loans originated. Their average total fees are $7,604, which is $155 lower than the next largest lender, UNION HOME MORTGAGE CORP..

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Jackson (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 (4.6%) $166,532 (-5.5%) 0.52 631
2018-02-01 $134,974 (-3.5%) $167,712 (-7.3%) 0.49 602
2018-03-01 $139,450 (-0.3%) $167,908 (-8.7%) 0.49 610
2018-04-01 $139,900 (0.0%) $173,667 (-6.3%) 0.47 641
2018-05-01 $149,900 (2.7%) $181,192 (-3.0%) 0.50 679
2018-06-01 $155,000 (3.4%) $189,831 (0.8%) 0.52 702
2018-07-01 $149,900 (0.0%) $186,572 (0.5%) 0.50 747
2018-08-01 $150,946 (0.6%) $187,688 (0.2%) 0.51 761
2018-09-01 $154,900 (-3.1%) $192,303 (2.1%) 0.52 797
2018-10-01 $152,294 (1.6%) $200,748 (8.8%) 0.52 784
2018-11-01 $149,665 (-0.2%) $194,678 (7.9%) 0.51 757
2018-12-01 $144,950 (0.0%) $192,672 (12.6%) 0.50 689
2019-01-01 $143,575 (2.6%) $194,317 (16.7%) 0.50 621
2019-02-01 $144,925 (7.4%) $196,136 (17.0%) 0.49 612
2019-03-01 $147,114 (5.5%) $196,844 (17.2%) 0.48 595
2019-04-01 $152,450 (9.0%) $213,979 (23.2%) 0.48 597
2019-05-01 $158,175 (5.5%) $215,641 (19.0%) 0.49 641
2019-06-01 $162,500 (4.8%) $218,797 (15.3%) 0.51 669
2019-07-01 $163,100 (8.8%) $218,191 (17.0%) 0.51 706
2019-08-01 $163,091 (8.1%) $213,058 (13.5%) 0.52 720
2019-09-01 $160,227 (3.4%) $204,518 (6.4%) 0.51 744
2019-10-01 $159,268 (4.6%) $199,773 (-0.5%) 0.51 746
2019-11-01 $158,950 (6.2%) $199,632 (2.5%) 0.52 680
2019-12-01 $149,900 (3.4%) $191,952 (-0.4%) 0.50 596
2020-01-01 $149,900 (4.4%) $189,212 (-2.6%) 0.50 543
2020-02-01 $145,000 (0.1%) $184,360 (-6.0%) 0.47 540
2020-03-01 $149,900 (1.9%) $192,590 (-2.2%) 0.47 535
2020-04-01 $156,000 (2.3%) $196,728 (-8.1%) 0.49 493
2020-05-01 $172,400 (9.0%) $208,128 (-3.5%) 0.52 509
2020-06-01 $178,450 (9.8%) $208,772 (-4.6%) 0.53 553
2020-07-01 $186,500 (14.4%) $216,908 (-0.6%) 0.54 565
2020-08-01 $176,900 (8.5%) $214,654 (0.8%) 0.51 534
2020-09-01 $174,925 (9.2%) $220,830 (8.0%) 0.50 504
2020-10-01 $174,900 (9.8%) $225,728 (13.0%) 0.50 494
2020-11-01 $169,950 (6.9%) $217,422 (8.9%) 0.50 469
2020-12-01 $162,450 (8.4%) $207,429 (8.1%) 0.48 433
2021-01-01 $149,900 (0.0%) $202,742 (7.2%) 0.45 375
2021-02-01 $149,900 (3.4%) $202,757 (10.0%) 0.44 308
2021-03-01 $145,750 (-2.8%) $210,125 (9.1%) 0.41 285
2021-04-01 $147,000 (-5.8%) $209,403 (6.4%) 0.40 292
2021-05-01 $162,900 (-5.5%) $217,040 (4.3%) 0.43 355
2021-06-01 $175,000 (-1.9%) $230,496 (10.4%) 0.46 417
2021-07-01 $179,900 (-3.5%) $236,488 (9.0%) 0.47 464
2021-08-01 $181,475 (2.6%) $254,881 (18.7%) 0.48 252
2021-09-01 $180,950 (3.4%) $234,776 (6.3%) 0.48 291
2021-10-01 $169,900 (-2.9%) $215,217 (-4.7%) 0.45 290
2021-11-01 $157,150 (-7.5%) $197,765 (-9.0%) 0.42 262
2021-12-01 $153,475 (-5.5%) $200,618 (-3.3%) 0.42 226
2022-01-01 $164,000 (9.4%) $212,332 (4.7%) 0.44 213
2022-02-01 $173,675 (15.9%) $226,694 (11.8%) 0.45 198
2022-03-01 $177,975 (22.1%) $234,701 (11.7%) 0.45 178
2022-04-01 $179,950 (22.4%) $223,799 (6.9%) 0.43 174
2022-05-01 $189,975 (16.6%) $248,341 (14.4%) 0.43 197
2022-06-01 $219,925 (25.7%) $274,681 (19.2%) 0.49 223
2022-07-01 $229,000 (27.3%) $282,730 (19.6%) 0.52 278
2022-08-01 $217,400 (19.8%) $283,247 (11.1%) 0.50 283
2022-09-01 $219,950 (21.6%) $286,814 (22.2%) 0.51 298
2022-10-01 $220,000 (29.5%) $277,095 (28.8%) 0.52 308
2022-11-01 $212,250 (35.1%) $270,966 (37.0%) 0.51 291
2022-12-01 $199,999 (30.3%) $255,607 (27.4%) 0.49 267
2023-01-01 $193,200 (17.8%) $252,845 (19.1%) 0.48 229
2023-02-01 $223,750 (28.8%) $269,783 (19.0%) 0.54 183
2023-03-01 $235,750 (32.5%) $288,415 (22.9%) 0.56 159
2023-04-01 $239,900 (33.3%) $307,151 (37.2%) 0.56 179
2023-05-01 $264,325 (39.1%) $314,388 (26.6%) 0.60 206
2023-06-01 $262,400 (19.3%) $310,825 (13.2%) 0.59 216
2023-07-01 $245,000 (7.0%) $301,167 (6.5%) 0.56 228
2023-08-01 $233,425 (7.4%) $305,038 (7.7%) 0.54 239
2023-09-01 $229,000 (4.1%) $303,602 (5.9%) 0.53 249
2023-10-01 $239,950 (9.1%) $310,634 (12.1%) 0.56 287
2023-11-01 $247,450 (16.6%) $307,652 (13.5%) 0.59 274
2023-12-01 $233,750 (16.9%) $299,287 (17.1%) 0.57 262
2024-01-01 $224,975 (16.5%) $287,859 (13.9%) 0.55 243
2024-02-01 $209,750 (-6.3%) $279,780 (3.7%) 0.50 219
2024-03-01 $245,900 (4.3%) $308,511 (7.0%) 0.58 213
Jackson's median listing price for 2024-03-01 was $245,900, a difference of $10,150 (4.3%) versus the prior year and $36,150 versus the prior month.

Jackson's median listing price comes in at 58% of the national average.

Jackson's average listing price for 2024-03-01 was $308,511, a difference of $20,096 (7.0%) versus the prior year and $28,731 versus the prior month.

For the 2024-03-01 period, Jackson had 213 MLS listings, a difference of -6 listings (-3%) versus the prior month and 54 listings (34%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Jackson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 79 days 1,596 sqft
2018-02-01 72 days 1,574 sqft
2018-03-01 53 days 1,600 sqft
2018-04-01 48 days 1,581 sqft
2018-05-01 44 days 1,605 sqft
2018-06-01 43 days 1,679 sqft
2018-07-01 42 days 1,663 sqft
2018-08-01 45 days 1,683 sqft
2018-09-01 47 days 1,712 sqft
2018-10-01 52 days 1,703 sqft
2018-11-01 55 days 1,661 sqft
2018-12-01 64 days 1,603 sqft
2019-01-01 73 days 1,590 sqft
2019-02-01 68 days 1,600 sqft
2019-03-01 59 days 1,650 sqft
2019-04-01 46 days 1,676 sqft
2019-05-01 44 days 1,656 sqft
2019-06-01 45 days 1,746 sqft
2019-07-01 46 days 1,761 sqft
2019-08-01 48 days 1,749 sqft
2019-09-01 50 days 1,710 sqft
2019-10-01 52 days 1,692 sqft
2019-11-01 56 days 1,693 sqft
2019-12-01 67 days 1,642 sqft
2020-01-01 74 days 1,640 sqft
2020-02-01 61 days 1,592 sqft
2020-03-01 55 days 1,595 sqft
2020-04-01 62 days 1,584 sqft
2020-05-01 69 days 1,650 sqft
2020-06-01 43 days 1,711 sqft
2020-07-01 44 days 1,740 sqft
2020-08-01 46 days 1,708 sqft
2020-09-01 41 days 1,700 sqft
2020-10-01 40 days 1,697 sqft
2020-11-01 46 days 1,696 sqft
2020-12-01 46 days 1,675 sqft
2021-01-01 50 days 1,560 sqft
2021-02-01 49 days 1,558 sqft
2021-03-01 43 days 1,558 sqft
2021-04-01 33 days 1,567 sqft
2021-05-01 30 days 1,623 sqft
2021-06-01 32 days 1,611 sqft
2021-07-01 31 days 1,600 sqft
2021-08-01 23 days 1,602 sqft
2021-09-01 32 days 1,613 sqft
2021-10-01 37 days 1,600 sqft
2021-11-01 44 days 1,558 sqft
2021-12-01 50 days 1,561 sqft
2022-01-01 53 days 1,540 sqft
2022-02-01 51 days 1,597 sqft
2022-03-01 47 days 1,559 sqft
2022-04-01 40 days 1,525 sqft
2022-05-01 32 days 1,588 sqft
2022-06-01 33 days 1,618 sqft
2022-07-01 32 days 1,728 sqft
2022-08-01 39 days 1,725 sqft
2022-09-01 45 days 1,698 sqft
2022-10-01 47 days 1,660 sqft
2022-11-01 50 days 1,650 sqft
2022-12-01 58 days 1,649 sqft
2023-01-01 65 days 1,636 sqft
2023-02-01 59 days 1,677 sqft
2023-03-01 52 days 1,698 sqft
2023-04-01 37 days 1,673 sqft
2023-05-01 29 days 1,716 sqft
2023-06-01 32 days 1,740 sqft
2023-07-01 38 days 1,695 sqft
2023-08-01 40 days 1,707 sqft
2023-09-01 42 days 1,756 sqft
2023-10-01 46 days 1,681 sqft
2023-11-01 50 days 1,704 sqft
2023-12-01 52 days 1,624 sqft
2024-01-01 56 days 1,589 sqft
2024-02-01 55 days 1,536 sqft
2024-03-01 43 days 1,653 sqft
Jackson's median listing age (time on market) for 2024-03-01 was 43 days. This is -18% shorter than the same period one year ago.

Jackson's median square footage for active listings during the 2024-03-01 period was 1,653 sqft. One year prior, the average listing was 1,698 sqft.