Kalamazoo USDA Loans
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 22 lenders originated 63 USDA loans during 2021. The total origination value was $10,935,000, with an average USDA loan value of $173,571.
Kalamazoo USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Kalamazoo
averaged
5.22%
for the week of 2022-05-20, compared to the national average (all USDA variants) of
5.315% for the same period.
The average rate for the prior week (2022-05-13) was
5.41% and
one month ago for the week of 2022-04-15, the
average rate was 5.11%.
The average rate one year ago was 3.45%.
For refis of the same type during the week of 2022-05-20, the average rate
was 5.04%.
Kalamazoo USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Kalamazoo level.
| Name | # of Loans | 2021 Avg. 30yFix Rate | 2021 Avg. Total Fees |
|---|---|---|---|
| AMERIFIRST FINANCIAL CORPORATION | 24 | 3.13% | $5,972 |
| SUCCESS MORTGAGE PARTNERS, INC. | 9 | 2.96% | $7,664 |
| CALIBER HOME LOANS, INC. | 4 | 2.87% | $4,602 |
| LAKE MICHIGAN CREDIT UNION | 3 | 2.71% | $6,562 |
| UNION HOME MORTGAGE CORP. | 2 | 2.88% | $6,251 |
| Fifth Third Bank | 2 | 2.94% | $4,668 |
| HOME POINT FINANCIAL CORPORATION | 2 | 2.81% | $3,630 |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | 2 | 3.75% | $5,810 |
| RUOFF MORTGAGE COMPANY, INC. | 2 | 3.25% | $1,839 |
| INLANTA MORTGAGE, INC. | 1 | 3.38% | $4,749 |
| GVC MORTGAGE, INC. | 1 | 2.88% | $5,358 |
| MID AMERICA MORTGAGE, INC. | 1 | 2.88% | $2,626 |
| MORTGAGE 1 INCORPORATED | 1 | 3.25% | $7,084 |
| Neighborhood Loans, Inc. | 1 | 3.25% | $4,656 |
| Pacor Mortgage Corp | 1 | 3.00% | $4,698 |
| TOP FLITE FINANCIAL, INC. | 1 | 2.75% | $5,107 |
| Carrington Mortgage Services, LLC | 1 | 5.13% | $3,201 |
| STOCKTON MORTGAGE CORPORATION | 1 | 4.13% | $4,529 |
| CHERRY CREEK MORTGAGE, LLC | 1 | 2.75% | $2,364 |
| The Huntington National Bank | 1 | 3.00% | $4,805 |
| Hometown Lenders, Inc. | 1 | 2.50% | $4,618 |
| Independent Bank | 1 | 3.50% | $4,833 |
The top Kalamazoo USDA lender as defined by loan originations is AMERIFIRST FINANCIAL CORPORATION, with
24 USDA loans originated. Their average total fees are
$5,972, which is $1,692
lower than the next largest lender,
SUCCESS MORTGAGE PARTNERS, INC..
The lowest fee Kalamazoo USDA lenders (with over 10 loans originated) are
AMERIFIRST FINANCIAL CORPORATION ($5,972), .
The lowest rate Kalamazoo USDA lenders (with over 10 loans originated) are
AMERIFIRST FINANCIAL CORPORATION (3.13%), .
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 | $209,950 (-0.6%) | $327,507 (-11.9%) | 0.77 | 879 |
| 2018-02-01 | $219,950 (-8.3%) | $338,683 (-13.5%) | 0.79 | 817 |
| 2018-03-01 | $249,900 (-1.8%) | $383,024 (-5.6%) | 0.86 | 790 |
| 2018-04-01 | $269,900 (2.3%) | $391,380 (-3.0%) | 0.91 | 798 |
| 2018-05-01 | $282,492 (8.9%) | $395,937 (4.6%) | 0.94 | 888 |
| 2018-06-01 | $275,000 (11.8%) | $389,904 (9.8%) | 0.92 | 1,000 |
| 2018-07-01 | $263,250 (7.5%) | $363,615 (3.5%) | 0.88 | 1,055 |
| 2018-08-01 | $249,900 (8.7%) | $351,571 (4.8%) | 0.84 | 1,161 |
| 2018-09-01 | $235,900 (4.8%) | $330,534 (-1.7%) | 0.79 | 1,247 |
| 2018-10-01 | $238,000 (7.0%) | $326,296 (-2.8%) | 0.80 | 1,239 |
| 2018-11-01 | $239,450 (9.1%) | $331,759 (-0.1%) | 0.80 | 1,168 |
| 2018-12-01 | $235,000 (7.4%) | $325,325 (-0.5%) | 0.80 | 1,052 |
| 2019-01-01 | $229,500 (9.3%) | $324,441 (-0.9%) | 0.79 | 954 |
| 2019-02-01 | $236,650 (7.6%) | $342,335 (1.1%) | 0.79 | 888 |
| 2019-03-01 | $258,243 (3.3%) | $365,670 (-4.5%) | 0.84 | 877 |
| 2019-04-01 | $281,200 (4.2%) | $382,221 (-2.3%) | 0.89 | 896 |
| 2019-05-01 | $290,500 (2.8%) | $387,774 (-2.1%) | 0.90 | 924 |
| 2019-06-01 | $284,900 (3.6%) | $380,036 (-2.5%) | 0.88 | 1,039 |
| 2019-07-01 | $274,950 (4.4%) | $373,463 (2.7%) | 0.85 | 1,112 |
| 2019-08-01 | $261,371 (4.6%) | $361,428 (2.8%) | 0.82 | 1,160 |
| 2019-09-01 | $250,000 (6.0%) | $348,183 (5.3%) | 0.79 | 1,211 |
| 2019-10-01 | $249,950 (5.0%) | $343,927 (5.4%) | 0.80 | 1,249 |
| 2019-11-01 | $245,000 (2.3%) | $335,630 (1.2%) | 0.79 | 1,150 |
| 2019-12-01 | $244,150 (3.9%) | $333,621 (2.6%) | 0.81 | 994 |
| 2020-01-01 | $245,000 (6.8%) | $331,583 (2.2%) | 0.82 | 873 |
| 2020-02-01 | $259,900 (9.8%) | $345,058 (0.8%) | 0.84 | 879 |
| 2020-03-01 | $290,950 (12.7%) | $378,056 (3.4%) | 0.91 | 794 |
| 2020-04-01 | $289,900 (3.1%) | $377,856 (-1.1%) | 0.90 | 778 |
| 2020-05-01 | $299,900 (3.2%) | $405,429 (4.6%) | 0.91 | 825 |
| 2020-06-01 | $314,900 (10.5%) | $413,841 (8.9%) | 0.92 | 760 |
| 2020-07-01 | $299,900 (9.1%) | $405,981 (8.7%) | 0.86 | 718 |
| 2020-08-01 | $299,900 (14.7%) | $396,411 (9.7%) | 0.86 | 660 |
| 2020-09-01 | $297,450 (19.0%) | $388,990 (11.7%) | 0.85 | 615 |
| 2020-10-01 | $299,900 (20.0%) | $399,660 (16.2%) | 0.86 | 584 |
| 2020-11-01 | $299,900 (22.4%) | $404,541 (20.5%) | 0.86 | 556 |
| 2020-12-01 | $287,200 (17.6%) | $392,368 (17.6%) | 0.84 | 481 |
| 2021-01-01 | $284,900 (16.3%) | $397,667 (19.9%) | 0.84 | 402 |
| 2021-02-01 | $302,450 (16.4%) | $412,288 (19.5%) | 0.87 | 353 |
| 2021-03-01 | $329,450 (13.2%) | $440,081 (16.4%) | 0.92 | 331 |
| 2021-04-01 | $337,500 (16.4%) | $444,114 (17.5%) | 0.91 | 313 |
| 2021-05-01 | $349,900 (16.7%) | $442,101 (9.0%) | 0.92 | 359 |
| 2021-06-01 | $329,450 (4.6%) | $434,902 (5.1%) | 0.86 | 396 |
| 2021-07-01 | $307,450 (2.5%) | $417,756 (2.9%) | 0.80 | 464 |
| 2021-08-01 | $302,500 (0.9%) | $410,964 (3.7%) | 0.80 | 507 |
| 2021-09-01 | $299,450 (0.7%) | $404,821 (4.1%) | 0.79 | 509 |
| 2021-10-01 | $290,000 (-3.3%) | $409,932 (2.6%) | 0.76 | 483 |
| 2021-11-01 | $277,450 (-7.5%) | $391,015 (-3.3%) | 0.73 | 427 |
| 2021-12-01 | $269,900 (-6.0%) | $388,878 (-0.9%) | 0.72 | 343 |
| 2022-01-01 | $279,900 (-1.8%) | $407,399 (2.5%) | 0.75 | 244 |
| 2022-02-01 | $297,400 (-1.7%) | $418,132 (1.4%) | 0.76 | 221 |
| 2022-03-01 | $317,450 (-3.6%) | $438,575 (-0.3%) | 0.78 | 237 |
| 2022-04-01 | $329,900 (-2.3%) | $459,937 (3.6%) | 0.78 | 263 |
Kalamazoo's median listing price comes in at 78% of the national average.
Kalamazoo's average listing price for 2022-04-01 was $459,937, a difference of $15,823 (3.6%) versus the prior year and $21,362 versus the prior month.
For the 2022-04-01 period, Kalamazoo had 263 MLS listings, a difference of 26 listings (11%) versus the prior month and -50 listings (-16%) 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 | 86 days | 1,858 sqft |
| 2018-02-01 | 85 days | 1,843 sqft |
| 2018-03-01 | 62 days | 1,956 sqft |
| 2018-04-01 | 53 days | 2,072 sqft |
| 2018-05-01 | 48 days | 2,149 sqft |
| 2018-06-01 | 45 days | 2,107 sqft |
| 2018-07-01 | 48 days | 2,070 sqft |
| 2018-08-01 | 48 days | 2,040 sqft |
| 2018-09-01 | 51 days | 2,008 sqft |
| 2018-10-01 | 57 days | 1,996 sqft |
| 2018-11-01 | 63 days | 1,947 sqft |
| 2018-12-01 | 73 days | 1,932 sqft |
| 2019-01-01 | 78 days | 1,885 sqft |
| 2019-02-01 | 78 days | 1,873 sqft |
| 2019-03-01 | 63 days | 1,969 sqft |
| 2019-04-01 | 48 days | 2,050 sqft |
| 2019-05-01 | 45 days | 2,057 sqft |
| 2019-06-01 | 46 days | 2,060 sqft |
| 2019-07-01 | 47 days | 2,066 sqft |
| 2019-08-01 | 49 days | 2,038 sqft |
| 2019-09-01 | 50 days | 2,021 sqft |
| 2019-10-01 | 54 days | 2,016 sqft |
| 2019-11-01 | 58 days | 1,975 sqft |
| 2019-12-01 | 72 days | 1,937 sqft |
| 2020-01-01 | 84 days | 1,928 sqft |
| 2020-02-01 | 80 days | 1,899 sqft |
| 2020-03-01 | 59 days | 1,977 sqft |
| 2020-04-01 | 68 days | 2,006 sqft |
| 2020-05-01 | 74 days | 2,044 sqft |
| 2020-06-01 | 60 days | 2,078 sqft |
| 2020-07-01 | 54 days | 2,069 sqft |
| 2020-08-01 | 52 days | 2,100 sqft |
| 2020-09-01 | 52 days | 2,078 sqft |
| 2020-10-01 | 52 days | 2,075 sqft |
| 2020-11-01 | 52 days | 2,058 sqft |
| 2020-12-01 | 61 days | 1,985 sqft |
| 2021-01-01 | 69 days | 1,924 sqft |
| 2021-02-01 | 63 days | 1,865 sqft |
| 2021-03-01 | 53 days | 1,983 sqft |
| 2021-04-01 | 48 days | 1,972 sqft |
| 2021-05-01 | 39 days | 2,007 sqft |
| 2021-06-01 | 38 days | 2,056 sqft |
| 2021-07-01 | 38 days | 1,959 sqft |
| 2021-08-01 | 39 days | 1,965 sqft |
| 2021-09-01 | 43 days | 1,913 sqft |
| 2021-10-01 | 46 days | 1,946 sqft |
| 2021-11-01 | 51 days | 1,852 sqft |
| 2021-12-01 | 54 days | 1,849 sqft |
| 2022-01-01 | 63 days | 1,866 sqft |
| 2022-02-01 | 48 days | 1,879 sqft |
| 2022-03-01 | 37 days | 1,863 sqft |
| 2022-04-01 | 38 days | 1,870 sqft |
Kalamazoo's median square footage for active listings during the 2022-04-01 period was 1,870 sqft. One year prior, the average listing was 1,972 sqft.
