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
6.43%
for the week of 2024-12-13, compared to the national average (all USDA variants) of
6.303% for the same period.
Jackson's average USDA mortgage closing costs are $4,976.
The average rate for the prior week (2024-12-06) was
6.36% and
one month ago for the week of 2024-11-08, the
average rate was 6.68%.
The average rate one year ago was 7.15%.
For refis of the same type during the week of 2024-12-13, the average rate
was 6.09%.
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 |
| 2024-04-01 | $259,900 (8.3%) | $328,592 (7.0%) | 0.60 | 210 |
| 2024-05-01 | $275,600 (4.3%) | $364,173 (15.8%) | 0.62 | 237 |
| 2024-06-01 | $289,160 (10.2%) | $375,568 (20.8%) | 0.65 | 277 |
| 2024-07-01 | $260,975 (6.5%) | $363,217 (20.6%) | 0.60 | 303 |
| 2024-08-01 | $254,950 (9.2%) | $352,670 (15.6%) | 0.59 | 337 |
| 2024-09-01 | $243,975 (6.5%) | $324,733 (7.0%) | 0.57 | 375 |
| 2024-10-01 | $236,400 (-1.5%) | $299,430 (-3.6%) | 0.56 | 387 |
| 2024-11-01 | $230,000 (-7.1%) | $289,712 (-5.8%) | 0.55 | 381 |
Jackson's median listing price comes in at 55% of the national average.
Jackson's average listing price for 2024-11-01 was $289,712, a difference of $-17,940 (-5.8%) versus the prior year and $-9,718 versus the prior month.
For the 2024-11-01 period, Jackson had 381 MLS listings, a difference of -6 listings (-2%) versus the prior month and 107 listings (39%) 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 |
| 2024-04-01 | 43 days | 1,735 sqft |
| 2024-05-01 | 31 days | 1,843 sqft |
| 2024-06-01 | 31 days | 1,822 sqft |
| 2024-07-01 | 38 days | 1,790 sqft |
| 2024-08-01 | 39 days | 1,798 sqft |
| 2024-09-01 | 40 days | 1,700 sqft |
| 2024-10-01 | 44 days | 1,624 sqft |
| 2024-11-01 | 53 days | 1,602 sqft |
Jackson's median square footage for active listings during the 2024-11-01 period was 1,602 sqft. One year prior, the average listing was 1,704 sqft.