Lansing USDA Loan Rates, Closing Costs & Stats

LANSING-EAST LANSING, 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.

    Lansing's 36 lenders originated 95 USDA loans during 2023. The total origination value was $15,275,000, with an average USDA loan value of $160,789.

    Lansing USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Lansing averaged 6.42% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Lansing's average USDA mortgage closing costs are $4,746.

    The average rate for the prior week (2025-02-07) was 6.48% and one month ago for the week of 2025-01-10, the average rate was 6.62%.

    The average rate one year ago was 6.82%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.6%.

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

    Lansing 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 Lansing level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNION HOME MORTGAGE CORP. 23 6.89% $7,031
    MORTGAGE 1 INCORPORATED 6 6.42% $7,499
    Preston Home Loans Inc 5 6.78% $6,665
    UNITED WHOLESALE MORTGAGE, LLC 4 6.00% $7,414
    CROSSCOUNTRY MORTGAGE, LLC 3 7.21% $8,211
    CARDINAL FINANCIAL 3 6.79% $9,088
    DAS Acquisition Company, LLC 3 6.38% $6,966
    EMM LOANS LLC 3 6.21% $7,142
    The Dart Bank 2 6.75% $5,428
    J. VIRGIL, INC. 2 7.00% $5,640
    BLG HOLDINGS, INC. 2 7.00% $7,469
    MICHIGAN MUTUAL, INC. 2 6.75% $3,574
    Fifth Third Bank 2 7.38% $4,544
    FIRST COMMUNITY MORTGAGE, INC. 2 6.31% $6,299
    Flagstar Bank, FSB 2 6.86% $6,740
    Frankenmuth Credit Union 2 6.81% $4,480
    Platinum Home Mortgage Corporation 2 5.88% $8,293
    HOMESIDE FINANCIAL, LLC 2 6.94% $6,485
    Waterstone Mortgage Corporation 1 6.13% $8,280
    Century Mortgage Company DBA Century Lending Company 1 6.88% $6,008
    CHURCHILL MORTGAGE CORPORATION 1 5.63% $8,233
    Dort Financial Credit Union 1 6.13% $3,213
    EVERETT FINANCIAL, INC. 1 7.13% $6,150
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $6,891
    GVC MORTGAGE, INC. 1 6.00% $6,941
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.88% $8,182
    LEGEND LENDING CORPORATION 1 7.63% $5,267
    MID AMERICA MORTGAGE, INC. 1 7.63% $4,034
    Mortgage Research Center, LLC 1 7.63% $4,710
    Neighborhood Loans, Inc. 1 6.00% $10,169
    NEWREZ LLC 1 6.75% $3,286
    Paramount Residential Mortgage Group, Inc. 1 6.00% $4,675
    Plains Commerce Bank 1 6.25% $7,864
    PLAZA HOME MORTGAGE, INC. 1 6.25% $5,523
    Sunflower Bank 1 6.63% $7,048
    TOWNE MORTGAGE COMPANY 1 6.63% $5,147

    The top Lansing USDA lender as defined by loan originations is UNION HOME MORTGAGE CORP., with 23 USDA loans originated. Their average total fees are $7,031, which is $468 lower than the next largest lender, MORTGAGE 1 INCORPORATED.

    The lowest fee Lansing USDA lenders (with over 10 loans originated) are UNION HOME MORTGAGE CORP. ($7,031), .

    The lowest rate Lansing USDA lenders (with over 10 loans originated) are UNION HOME MORTGAGE CORP. (6.89%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lansing (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 (14.7%) $193,469 (12.1%) 0.50 1,176
    2018-02-01 $145,000 (12.7%) $199,300 (10.5%) 0.51 1,127
    2018-03-01 $149,900 (11.1%) $207,339 (11.4%) 0.51 1,047
    2018-04-01 $162,400 (12.1%) $216,811 (11.8%) 0.53 1,009
    2018-05-01 $179,000 (19.4%) $223,433 (11.6%) 0.58 1,084
    2018-06-01 $179,950 (14.3%) $225,655 (9.5%) 0.58 1,239
    2018-07-01 $179,995 (10.8%) $224,205 (8.2%) 0.58 1,386
    2018-08-01 $179,900 (12.7%) $220,093 (7.9%) 0.58 1,528
    2018-09-01 $174,900 (9.4%) $217,303 (5.8%) 0.57 1,571
    2018-10-01 $169,900 (8.6%) $215,966 (6.3%) 0.56 1,577
    2018-11-01 $169,450 (13.4%) $214,592 (8.3%) 0.55 1,509
    2018-12-01 $165,000 (16.2%) $211,869 (8.3%) 0.55 1,327
    2019-01-01 $165,000 (17.9%) $216,844 (12.1%) 0.54 1,172
    2019-02-01 $174,283 (20.2%) $224,328 (12.6%) 0.57 1,047
    2019-03-01 $180,329 (20.3%) $232,950 (12.4%) 0.56 1,007
    2019-04-01 $191,900 (18.2%) $242,457 (11.8%) 0.57 1,017
    2019-05-01 $202,450 (13.1%) $250,943 (12.3%) 0.61 1,110
    2019-06-01 $204,900 (13.9%) $247,990 (9.9%) 0.60 1,194
    2019-07-01 $199,950 (11.1%) $244,202 (8.9%) 0.60 1,285
    2019-08-01 $190,336 (5.8%) $236,489 (7.5%) 0.58 1,356
    2019-09-01 $176,028 (0.7%) $225,773 (3.9%) 0.54 1,432
    2019-10-01 $164,925 (-2.9%) $219,754 (1.8%) 0.52 1,459
    2019-11-01 $159,900 (-5.6%) $212,798 (-0.8%) 0.51 1,405
    2019-12-01 $151,825 (-8.0%) $209,842 (-1.0%) 0.50 1,257
    2020-01-01 $151,575 (-8.1%) $211,408 (-2.5%) 0.49 1,134
    2020-02-01 $157,900 (-9.4%) $224,122 (-0.1%) 0.49 1,015
    2020-03-01 $172,400 (-4.4%) $233,759 (0.4%) 0.51 907
    2020-04-01 $189,900 (-1.0%) $244,135 (0.7%) 0.53 870
    2020-05-01 $195,000 (-3.7%) $243,436 (-3.0%) 0.56 893
    2020-06-01 $220,000 (7.4%) $270,498 (9.1%) 0.62 814
    2020-07-01 $219,350 (9.7%) $268,788 (10.1%) 0.59 804
    2020-08-01 $214,900 (12.9%) $260,875 (10.3%) 0.59 794
    2020-09-01 $216,200 (22.8%) $262,861 (16.4%) 0.57 792
    2020-10-01 $199,900 (21.2%) $260,093 (18.4%) 0.54 770
    2020-11-01 $180,100 (12.6%) $253,167 (19.0%) 0.51 723
    2020-12-01 $169,900 (11.9%) $248,721 (18.5%) 0.49 625
    2021-01-01 $159,900 (5.5%) $244,097 (15.5%) 0.48 495
    2021-02-01 $160,000 (1.3%) $242,999 (8.4%) 0.47 384
    2021-03-01 $169,900 (-1.5%) $245,887 (5.2%) 0.50 363
    2021-04-01 $187,400 (-1.3%) $259,490 (6.3%) 0.50 339
    2021-05-01 $179,900 (-7.7%) $247,340 (1.6%) 0.49 418
    2021-06-01 $189,975 (-13.7%) $260,551 (-3.7%) 0.50 503
    2021-07-01 $185,000 (-15.7%) $254,368 (-5.4%) 0.49 615
    2021-08-01 $184,200 (-14.3%) $249,733 (-4.3%) 0.49 746
    2021-09-01 $179,900 (-16.8%) $244,743 (-6.9%) 0.48 770
    2021-10-01 $176,400 (-11.8%) $237,369 (-8.7%) 0.48 696
    2021-11-01 $163,875 (-9.0%) $224,512 (-11.3%) 0.44 644
    2021-12-01 $149,950 (-11.7%) $217,235 (-12.7%) 0.42 535
    2022-01-01 $145,000 (-9.3%) $215,246 (-11.8%) 0.41 418
    2022-02-01 $152,175 (-4.9%) $229,422 (-5.6%) 0.40 336
    2022-03-01 $159,450 (-6.2%) $233,684 (-5.0%) 0.40 313
    2022-04-01 $189,900 (1.3%) $261,197 (0.7%) 0.45 308
    2022-05-01 $199,675 (11.0%) $257,224 (4.0%) 0.46 402
    2022-06-01 $200,000 (5.3%) $265,649 (2.0%) 0.45 516
    2022-07-01 $209,950 (13.5%) $265,989 (4.6%) 0.47 618
    2022-08-01 $209,450 (13.7%) $264,906 (6.1%) 0.47 724
    2022-09-01 $205,000 (14.0%) $266,744 (9.0%) 0.47 711
    2022-10-01 $219,900 (24.7%) $266,486 (12.3%) 0.49 760
    2022-11-01 $194,950 (19.0%) $256,450 (14.2%) 0.47 802
    2022-12-01 $194,450 (29.7%) $252,512 (16.2%) 0.47 696
    2023-01-01 $191,425 (32.0%) $254,287 (18.1%) 0.46 524
    2023-02-01 $201,175 (32.2%) $259,718 (13.2%) 0.48 422
    2023-03-01 $228,808 (43.5%) $280,397 (20.0%) 0.54 376
    2023-04-01 $229,900 (21.1%) $276,388 (5.8%) 0.53 362
    2023-05-01 $246,075 (23.2%) $284,825 (10.7%) 0.56 403
    2023-06-01 $259,000 (29.5%) $295,279 (11.2%) 0.58 463
    2023-07-01 $259,900 (23.8%) $305,335 (14.8%) 0.59 513
    2023-08-01 $249,950 (19.3%) $300,323 (13.4%) 0.57 562
    2023-09-01 $244,900 (19.5%) $292,197 (9.5%) 0.57 607
    2023-10-01 $245,725 (11.7%) $287,144 (7.8%) 0.57 662
    2023-11-01 $237,400 (21.8%) $282,381 (10.1%) 0.55 669
    2023-12-01 $225,000 (15.7%) $273,716 (8.4%) 0.55 626
    2024-01-01 $224,950 (17.5%) $278,301 (9.4%) 0.55 527
    2024-02-01 $210,000 (4.4%) $271,517 (4.5%) 0.51 486
    2024-03-01 $225,000 (-1.7%) $275,111 (-1.9%) 0.53 470
    2024-04-01 $234,950 (2.2%) $284,209 (2.8%) 0.55 474
    2024-05-01 $252,450 (2.6%) $297,476 (4.4%) 0.56 475
    2024-06-01 $250,000 (-3.5%) $304,308 (3.1%) 0.56 528
    2024-07-01 $249,900 (-3.9%) $303,101 (-0.7%) 0.57 580
    2024-08-01 $239,900 (-4.0%) $292,122 (-2.7%) 0.56 682
    2024-09-01 $237,450 (-3.0%) $282,839 (-3.2%) 0.55 754
    2024-10-01 $234,900 (-4.4%) $282,438 (-1.6%) 0.54 790
    2024-11-01 $230,000 (-3.1%) $276,878 (-2.0%) 0.55 810
    2024-12-01 $213,500 (-5.1%) $273,248 (-0.2%) 0.53 730
    2025-01-01 $214,950 (-4.5%) $278,885 (0.2%) 0.00 673
    Lansing's median listing price for 2025-01-01 was $214,950, a difference of $-10,000 (-4.5%) versus the prior year and $1,450 versus the prior month.

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

    Lansing's average listing price for 2025-01-01 was $278,885, a difference of $584 (0.2%) versus the prior year and $5,637 versus the prior month.

    For the 2025-01-01 period, Lansing had 673 MLS listings, a difference of -57 listings (-8%) versus the prior month and 146 listings (28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lansing (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 74 days 1,603 sqft
    2018-02-01 66 days 1,636 sqft
    2018-03-01 52 days 1,676 sqft
    2018-04-01 46 days 1,710 sqft
    2018-05-01 38 days 1,747 sqft
    2018-06-01 39 days 1,760 sqft
    2018-07-01 43 days 1,774 sqft
    2018-08-01 42 days 1,795 sqft
    2018-09-01 51 days 1,769 sqft
    2018-10-01 58 days 1,762 sqft
    2018-11-01 60 days 1,717 sqft
    2018-12-01 70 days 1,683 sqft
    2019-01-01 77 days 1,665 sqft
    2019-02-01 74 days 1,702 sqft
    2019-03-01 63 days 1,721 sqft
    2019-04-01 48 days 1,787 sqft
    2019-05-01 38 days 1,821 sqft
    2019-06-01 38 days 1,840 sqft
    2019-07-01 43 days 1,838 sqft
    2019-08-01 44 days 1,789 sqft
    2019-09-01 47 days 1,737 sqft
    2019-10-01 49 days 1,704 sqft
    2019-11-01 53 days 1,683 sqft
    2019-12-01 67 days 1,616 sqft
    2020-01-01 74 days 1,606 sqft
    2020-02-01 68 days 1,639 sqft
    2020-03-01 55 days 1,691 sqft
    2020-04-01 58 days 1,699 sqft
    2020-05-01 59 days 1,737 sqft
    2020-06-01 43 days 1,851 sqft
    2020-07-01 39 days 1,789 sqft
    2020-08-01 36 days 1,804 sqft
    2020-09-01 33 days 1,802 sqft
    2020-10-01 36 days 1,775 sqft
    2020-11-01 42 days 1,685 sqft
    2020-12-01 51 days 1,629 sqft
    2021-01-01 58 days 1,550 sqft
    2021-02-01 45 days 1,441 sqft
    2021-03-01 40 days 1,488 sqft
    2021-04-01 37 days 1,565 sqft
    2021-05-01 29 days 1,578 sqft
    2021-06-01 22 days 1,455 sqft
    2021-07-01 24 days 1,454 sqft
    2021-08-01 24 days 1,531 sqft
    2021-09-01 34 days 1,557 sqft
    2021-10-01 37 days 1,549 sqft
    2021-11-01 45 days 1,467 sqft
    2021-12-01 52 days 1,428 sqft
    2022-01-01 54 days 1,422 sqft
    2022-02-01 44 days 1,424 sqft
    2022-03-01 38 days 1,448 sqft
    2022-04-01 28 days 1,600 sqft
    2022-05-01 22 days 1,596 sqft
    2022-06-01 23 days 1,605 sqft
    2022-07-01 26 days 1,640 sqft
    2022-08-01 30 days 1,629 sqft
    2022-09-01 40 days 1,611 sqft
    2022-10-01 40 days 1,650 sqft
    2022-11-01 44 days 1,608 sqft
    2022-12-01 54 days 1,596 sqft
    2023-01-01 61 days 1,553 sqft
    2023-02-01 54 days 1,575 sqft
    2023-03-01 44 days 1,660 sqft
    2023-04-01 35 days 1,656 sqft
    2023-05-01 28 days 1,703 sqft
    2023-06-01 30 days 1,757 sqft
    2023-07-01 34 days 1,808 sqft
    2023-08-01 35 days 1,762 sqft
    2023-09-01 37 days 1,704 sqft
    2023-10-01 37 days 1,692 sqft
    2023-11-01 42 days 1,669 sqft
    2023-12-01 50 days 1,597 sqft
    2024-01-01 58 days 1,590 sqft
    2024-02-01 52 days 1,519 sqft
    2024-03-01 40 days 1,566 sqft
    2024-04-01 36 days 1,633 sqft
    2024-05-01 24 days 1,716 sqft
    2024-06-01 24 days 1,753 sqft
    2024-07-01 34 days 1,741 sqft
    2024-08-01 33 days 1,692 sqft
    2024-09-01 36 days 1,665 sqft
    2024-10-01 38 days 1,635 sqft
    2024-11-01 44 days 1,619 sqft
    2024-12-01 55 days 1,560 sqft
    2025-01-01 0 days 1,568 sqft
    Lansing's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Lansing's median square footage for active listings during the 2025-01-01 period was 1,568 sqft. One year prior, the average listing was 1,590 sqft.