Kalamazoo USDA Loan Rates, Closing Costs & Stats
KALAMAZOO-PORTAGE, 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.
Kalamazoo's 10 lenders originated 11 USDA loans during 2023. The total origination value was $2,135,000, with an average USDA loan value of $194,091.
Kalamazoo USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Kalamazoo
averaged
-0.14%
for the week of 2024-11-15, compared to the national average (all USDA variants) of
0% for the same period.
Kalamazoo's average USDA mortgage closing costs are $5,602.
The average rate for the prior week (2024-11-08) was
6.41% and
one month ago for the week of 2024-10-11, the
average rate was 6.27%.
The average rate one year ago was 7.6%.
For refis of the same type during the week of 2024-11-15, the average rate
was -0.01%.
Kalamazoo 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 Kalamazoo level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Fifth Third Bank | 2 | 5.75% | $8,080 |
| Century Mortgage Company DBA Century Lending Company | 1 | 6.99% | $10,951 |
| CROSSCOUNTRY MORTGAGE, LLC | 1 | 5.06% | $19,856 |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | 1 | 6.13% | $7,743 |
| LAKE MICHIGAN CREDIT UNION | 1 | 6.38% | $4,946 |
| MICHIGAN MUTUAL, INC. | 1 | 7.13% | $7,038 |
| Neighborhood Loans, Inc. | 1 | 6.00% | $6,492 |
| SUCCESS MORTGAGE PARTNERS, INC. | 1 | 7.13% | $11,035 |
| Bank of England | 1 | 5.75% | $5,523 |
| UNION HOME MORTGAGE CORP. | 1 | 6.50% | $4,774 |
The top Kalamazoo USDA lender as defined by loan originations is Fifth Third Bank, with
2 USDA loans originated. Their average total fees are
$8,080, which is $2,871
lower than the next largest lender,
Century Mortgage Company DBA Century Lending Company.
The lowest fee Kalamazoo USDA lenders (with over 10 loans originated) are
.
The lowest rate Kalamazoo USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Kalamazoo (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 | $196,250 (-2.6%) | $273,353 (-12.6%) | 0.73 | 550 |
| 2018-02-01 | $207,225 (-14.7%) | $282,733 (-15.2%) | 0.75 | 502 |
| 2018-03-01 | $240,000 (-5.3%) | $324,828 (-6.2%) | 0.84 | 469 |
| 2018-04-01 | $268,950 (-0.4%) | $340,615 (-3.6%) | 0.91 | 476 |
| 2018-05-01 | $279,900 (9.8%) | $339,984 (1.3%) | 0.93 | 526 |
| 2018-06-01 | $272,875 (13.7%) | $335,654 (7.2%) | 0.91 | 581 |
| 2018-07-01 | $253,900 (6.2%) | $319,017 (2.3%) | 0.85 | 623 |
| 2018-08-01 | $239,900 (6.7%) | $305,566 (2.8%) | 0.80 | 712 |
| 2018-09-01 | $230,000 (7.0%) | $292,594 (0.6%) | 0.77 | 768 |
| 2018-10-01 | $229,900 (7.0%) | $290,390 (0.1%) | 0.78 | 786 |
| 2018-11-01 | $227,750 (13.9%) | $293,915 (3.6%) | 0.77 | 743 |
| 2018-12-01 | $229,000 (14.6%) | $293,938 (5.3%) | 0.79 | 654 |
| 2019-01-01 | $224,900 (14.6%) | $294,463 (7.7%) | 0.78 | 593 |
| 2019-02-01 | $229,450 (10.7%) | $307,876 (8.9%) | 0.78 | 528 |
| 2019-03-01 | $256,214 (6.8%) | $330,046 (1.6%) | 0.84 | 509 |
| 2019-04-01 | $279,900 (4.1%) | $350,467 (2.9%) | 0.89 | 520 |
| 2019-05-01 | $290,950 (4.0%) | $358,659 (5.5%) | 0.91 | 533 |
| 2019-06-01 | $274,900 (0.7%) | $353,251 (5.2%) | 0.86 | 614 |
| 2019-07-01 | $260,600 (2.6%) | $338,074 (6.0%) | 0.82 | 663 |
| 2019-08-01 | $247,245 (3.1%) | $326,168 (6.7%) | 0.78 | 725 |
| 2019-09-01 | $243,114 (5.7%) | $317,702 (8.6%) | 0.78 | 770 |
| 2019-10-01 | $239,900 (4.4%) | $310,276 (6.9%) | 0.77 | 795 |
| 2019-11-01 | $234,900 (3.1%) | $299,324 (1.8%) | 0.77 | 739 |
| 2019-12-01 | $229,900 (0.4%) | $297,442 (1.2%) | 0.77 | 641 |
| 2020-01-01 | $230,000 (2.3%) | $302,260 (2.7%) | 0.77 | 572 |
| 2020-02-01 | $249,500 (8.7%) | $308,496 (0.2%) | 0.82 | 541 |
| 2020-03-01 | $282,400 (10.2%) | $339,719 (2.9%) | 0.89 | 493 |
| 2020-04-01 | $289,900 (3.6%) | $345,670 (-1.4%) | 0.91 | 490 |
| 2020-05-01 | $299,953 (3.1%) | $369,309 (3.0%) | 0.91 | 501 |
| 2020-06-01 | $312,975 (13.9%) | $377,930 (7.0%) | 0.92 | 483 |
| 2020-07-01 | $297,700 (14.2%) | $365,692 (8.2%) | 0.86 | 471 |
| 2020-08-01 | $297,250 (20.2%) | $353,736 (8.5%) | 0.85 | 446 |
| 2020-09-01 | $289,894 (19.2%) | $345,386 (8.7%) | 0.83 | 422 |
| 2020-10-01 | $299,000 (24.6%) | $349,504 (12.6%) | 0.86 | 395 |
| 2020-11-01 | $301,975 (28.6%) | $358,872 (19.9%) | 0.88 | 369 |
| 2020-12-01 | $296,740 (29.1%) | $352,676 (18.6%) | 0.88 | 321 |
| 2021-01-01 | $284,900 (23.9%) | $352,941 (16.8%) | 0.85 | 263 |
| 2021-02-01 | $307,500 (23.3%) | $368,558 (19.5%) | 0.90 | 226 |
| 2021-03-01 | $325,725 (15.3%) | $379,405 (11.7%) | 0.92 | 213 |
| 2021-04-01 | $333,423 (15.0%) | $389,711 (12.7%) | 0.90 | 212 |
| 2021-05-01 | $338,950 (13.0%) | $379,376 (2.7%) | 0.90 | 234 |
| 2021-06-01 | $314,950 (0.6%) | $362,239 (-4.2%) | 0.83 | 258 |
| 2021-07-01 | $298,444 (0.3%) | $349,615 (-4.4%) | 0.79 | 298 |
| 2021-08-01 | $293,475 (-1.3%) | $358,530 (1.4%) | 0.78 | 326 |
| 2021-09-01 | $281,250 (-3.0%) | $356,149 (3.1%) | 0.75 | 328 |
| 2021-10-01 | $279,900 (-6.4%) | $361,308 (3.4%) | 0.75 | 320 |
| 2021-11-01 | $270,200 (-10.5%) | $357,492 (-0.4%) | 0.72 | 293 |
| 2021-12-01 | $258,450 (-12.9%) | $345,859 (-1.9%) | 0.70 | 219 |
| 2022-01-01 | $271,000 (-4.9%) | $350,880 (-0.6%) | 0.73 | 146 |
| 2022-02-01 | $307,400 (0.0%) | $366,488 (-0.6%) | 0.80 | 146 |
| 2022-03-01 | $299,700 (-8.0%) | $369,024 (-2.7%) | 0.75 | 152 |
| 2022-04-01 | $329,000 (-1.3%) | $399,888 (2.6%) | 0.78 | 160 |
| 2022-05-01 | $303,704 (-10.4%) | $411,225 (8.4%) | 0.69 | 210 |
| 2022-06-01 | $326,225 (3.6%) | $418,185 (15.4%) | 0.73 | 255 |
| 2022-07-01 | $310,000 (3.9%) | $403,187 (15.3%) | 0.70 | 317 |
| 2022-08-01 | $291,250 (-0.8%) | $384,345 (7.2%) | 0.67 | 364 |
| 2022-09-01 | $295,000 (4.9%) | $382,339 (7.4%) | 0.69 | 339 |
| 2022-10-01 | $288,250 (3.0%) | $379,030 (4.9%) | 0.68 | 389 |
| 2022-11-01 | $279,945 (3.6%) | $359,967 (0.7%) | 0.67 | 397 |
| 2022-12-01 | $275,000 (6.4%) | $357,273 (3.3%) | 0.68 | 333 |
| 2023-01-01 | $295,993 (9.2%) | $381,584 (8.8%) | 0.73 | 276 |
| 2023-02-01 | $304,700 (-0.9%) | $393,334 (7.3%) | 0.74 | 252 |
| 2023-03-01 | $294,500 (-1.7%) | $396,431 (7.4%) | 0.69 | 227 |
| 2023-04-01 | $345,000 (4.9%) | $444,260 (11.1%) | 0.80 | 217 |
| 2023-05-01 | $334,900 (10.3%) | $429,679 (4.5%) | 0.76 | 249 |
| 2023-06-01 | $331,627 (1.7%) | $421,615 (0.8%) | 0.75 | 296 |
| 2023-07-01 | $325,000 (4.8%) | $419,292 (4.0%) | 0.74 | 326 |
| 2023-08-01 | $318,900 (9.5%) | $401,405 (4.4%) | 0.73 | 344 |
| 2023-09-01 | $309,990 (5.1%) | $401,248 (5.0%) | 0.72 | 359 |
| 2023-10-01 | $304,450 (5.6%) | $387,580 (2.3%) | 0.72 | 367 |
| 2023-11-01 | $289,150 (3.3%) | $372,287 (3.4%) | 0.69 | 383 |
| 2023-12-01 | $284,900 (3.6%) | $373,529 (4.6%) | 0.69 | 370 |
| 2024-01-01 | $294,975 (-0.3%) | $378,359 (-0.9%) | 0.72 | 331 |
| 2024-02-01 | $329,900 (8.3%) | $419,764 (6.7%) | 0.79 | 308 |
| 2024-03-01 | $350,000 (18.9%) | $442,967 (11.7%) | 0.82 | 301 |
| 2024-04-01 | $372,400 (7.9%) | $451,246 (1.6%) | 0.87 | 318 |
| 2024-05-01 | $398,757 (19.1%) | $478,323 (11.3%) | 0.90 | 344 |
| 2024-06-01 | $374,900 (13.1%) | $459,614 (9.0%) | 0.84 | 376 |
| 2024-07-01 | $374,925 (15.4%) | $435,083 (3.8%) | 0.86 | 384 |
| 2024-08-01 | $369,900 (16.0%) | $433,559 (8.0%) | 0.86 | 429 |
| 2024-09-01 | $359,975 (16.1%) | $435,290 (8.5%) | 0.85 | 477 |
| 2024-10-01 | $330,694 (8.6%) | $421,064 (8.6%) | 0.78 | 472 |
Kalamazoo's median listing price comes in at 78% of the national average.
Kalamazoo's average listing price for 2024-10-01 was $421,064, a difference of $33,484 (8.6%) versus the prior year and $-14,226 versus the prior month.
For the 2024-10-01 period, Kalamazoo had 472 MLS listings, a difference of -5 listings (-1%) versus the prior month and 105 listings (29%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Kalamazoo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 68 days | 1,902 sqft |
| 2018-02-01 | 61 days | 1,951 sqft |
| 2018-03-01 | 44 days | 2,100 sqft |
| 2018-04-01 | 38 days | 2,253 sqft |
| 2018-05-01 | 31 days | 2,356 sqft |
| 2018-06-01 | 32 days | 2,291 sqft |
| 2018-07-01 | 36 days | 2,238 sqft |
| 2018-08-01 | 32 days | 2,142 sqft |
| 2018-09-01 | 39 days | 2,121 sqft |
| 2018-10-01 | 45 days | 2,050 sqft |
| 2018-11-01 | 50 days | 1,994 sqft |
| 2018-12-01 | 59 days | 2,012 sqft |
| 2019-01-01 | 66 days | 1,940 sqft |
| 2019-02-01 | 57 days | 1,922 sqft |
| 2019-03-01 | 46 days | 2,061 sqft |
| 2019-04-01 | 36 days | 2,180 sqft |
| 2019-05-01 | 32 days | 2,254 sqft |
| 2019-06-01 | 31 days | 2,221 sqft |
| 2019-07-01 | 34 days | 2,197 sqft |
| 2019-08-01 | 39 days | 2,119 sqft |
| 2019-09-01 | 41 days | 2,097 sqft |
| 2019-10-01 | 42 days | 2,076 sqft |
| 2019-11-01 | 46 days | 2,048 sqft |
| 2019-12-01 | 62 days | 2,002 sqft |
| 2020-01-01 | 70 days | 2,004 sqft |
| 2020-02-01 | 62 days | 1,983 sqft |
| 2020-03-01 | 50 days | 2,068 sqft |
| 2020-04-01 | 56 days | 2,084 sqft |
| 2020-05-01 | 65 days | 2,197 sqft |
| 2020-06-01 | 44 days | 2,304 sqft |
| 2020-07-01 | 45 days | 2,194 sqft |
| 2020-08-01 | 46 days | 2,230 sqft |
| 2020-09-01 | 46 days | 2,087 sqft |
| 2020-10-01 | 44 days | 2,075 sqft |
| 2020-11-01 | 47 days | 2,075 sqft |
| 2020-12-01 | 55 days | 2,060 sqft |
| 2021-01-01 | 58 days | 1,894 sqft |
| 2021-02-01 | 51 days | 1,876 sqft |
| 2021-03-01 | 45 days | 1,975 sqft |
| 2021-04-01 | 38 days | 1,996 sqft |
| 2021-05-01 | 30 days | 2,003 sqft |
| 2021-06-01 | 33 days | 2,048 sqft |
| 2021-07-01 | 32 days | 1,988 sqft |
| 2021-08-01 | 34 days | 2,014 sqft |
| 2021-09-01 | 39 days | 1,965 sqft |
| 2021-10-01 | 39 days | 1,904 sqft |
| 2021-11-01 | 43 days | 1,880 sqft |
| 2021-12-01 | 48 days | 1,770 sqft |
| 2022-01-01 | 55 days | 1,800 sqft |
| 2022-02-01 | 33 days | 1,834 sqft |
| 2022-03-01 | 31 days | 1,809 sqft |
| 2022-04-01 | 32 days | 1,811 sqft |
| 2022-05-01 | 25 days | 1,849 sqft |
| 2022-06-01 | 28 days | 1,898 sqft |
| 2022-07-01 | 31 days | 1,873 sqft |
| 2022-08-01 | 33 days | 1,939 sqft |
| 2022-09-01 | 42 days | 1,976 sqft |
| 2022-10-01 | 39 days | 1,905 sqft |
| 2022-11-01 | 41 days | 1,880 sqft |
| 2022-12-01 | 54 days | 1,794 sqft |
| 2023-01-01 | 52 days | 1,803 sqft |
| 2023-02-01 | 42 days | 1,780 sqft |
| 2023-03-01 | 44 days | 1,741 sqft |
| 2023-04-01 | 44 days | 1,860 sqft |
| 2023-05-01 | 33 days | 1,842 sqft |
| 2023-06-01 | 33 days | 1,835 sqft |
| 2023-07-01 | 37 days | 1,832 sqft |
| 2023-08-01 | 35 days | 1,851 sqft |
| 2023-09-01 | 39 days | 1,840 sqft |
| 2023-10-01 | 44 days | 1,827 sqft |
| 2023-11-01 | 38 days | 1,802 sqft |
| 2023-12-01 | 49 days | 1,782 sqft |
| 2024-01-01 | 65 days | 1,779 sqft |
| 2024-02-01 | 52 days | 1,828 sqft |
| 2024-03-01 | 45 days | 1,904 sqft |
| 2024-04-01 | 40 days | 1,963 sqft |
| 2024-05-01 | 36 days | 2,020 sqft |
| 2024-06-01 | 40 days | 1,994 sqft |
| 2024-07-01 | 44 days | 2,015 sqft |
| 2024-08-01 | 42 days | 2,001 sqft |
| 2024-09-01 | 40 days | 1,959 sqft |
| 2024-10-01 | 46 days | 1,942 sqft |
Kalamazoo's median square footage for active listings during the 2024-10-01 period was 1,942 sqft. One year prior, the average listing was 1,827 sqft.