Lansing USDA Loan Rates, Closing Costs & Stats
LANSING-EAST LANSING, 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.
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
5.86%
for the week of 2024-10-04, compared to the national average (all USDA variants) of
5.97% for the same period.
Lansing's average USDA mortgage closing costs are $4,746.
The average rate for the prior week (2024-09-27) was
6.29% and
one month ago for the week of 2024-08-30, the
average rate was 6.03%.
The average rate one year ago was 7.38%.
For refis of the same type during the week of 2024-10-04, the average rate
was 6.04%.
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.
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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $135,500 (13.4%) | $189,018 (12.7%) | 0.50 | 1,364 |
2018-02-01 | $139,900 (12.0%) | $192,728 (10.5%) | 0.51 | 1,306 |
2018-03-01 | $145,000 (11.6%) | $201,497 (11.4%) | 0.51 | 1,196 |
2018-04-01 | $157,475 (12.5%) | $212,437 (12.3%) | 0.53 | 1,152 |
2018-05-01 | $172,450 (15.2%) | $217,140 (10.8%) | 0.58 | 1,267 |
2018-06-01 | $174,900 (11.4%) | $219,318 (8.8%) | 0.58 | 1,446 |
2018-07-01 | $175,000 (10.1%) | $217,256 (7.6%) | 0.58 | 1,609 |
2018-08-01 | $173,394 (11.9%) | $213,369 (7.4%) | 0.58 | 1,790 |
2018-09-01 | $169,900 (11.9%) | $211,400 (6.7%) | 0.57 | 1,847 |
2018-10-01 | $165,000 (10.1%) | $210,034 (6.5%) | 0.56 | 1,832 |
2018-11-01 | $161,450 (9.9%) | $208,944 (8.3%) | 0.55 | 1,737 |
2018-12-01 | $159,900 (14.3%) | $206,422 (8.5%) | 0.55 | 1,524 |
2019-01-01 | $157,375 (16.1%) | $209,641 (10.9%) | 0.54 | 1,362 |
2019-02-01 | $168,550 (20.5%) | $215,778 (12.0%) | 0.57 | 1,235 |
2019-03-01 | $172,686 (19.1%) | $224,500 (11.4%) | 0.56 | 1,180 |
2019-04-01 | $180,650 (14.7%) | $233,492 (9.9%) | 0.57 | 1,175 |
2019-05-01 | $194,950 (13.1%) | $243,248 (12.0%) | 0.61 | 1,262 |
2019-06-01 | $192,990 (10.3%) | $239,780 (9.3%) | 0.60 | 1,376 |
2019-07-01 | $192,075 (9.8%) | $236,742 (9.0%) | 0.60 | 1,478 |
2019-08-01 | $181,745 (4.8%) | $229,969 (7.8%) | 0.58 | 1,558 |
2019-09-01 | $169,514 (-0.2%) | $220,758 (4.4%) | 0.54 | 1,638 |
2019-10-01 | $159,950 (-3.1%) | $215,436 (2.6%) | 0.52 | 1,668 |
2019-11-01 | $155,000 (-4.0%) | $209,365 (0.2%) | 0.51 | 1,594 |
2019-12-01 | $149,250 (-6.7%) | $205,976 (-0.2%) | 0.50 | 1,432 |
2020-01-01 | $147,450 (-6.3%) | $207,084 (-1.2%) | 0.49 | 1,293 |
2020-02-01 | $149,900 (-11.1%) | $217,757 (0.9%) | 0.49 | 1,165 |
2020-03-01 | $163,975 (-5.0%) | $224,092 (-0.2%) | 0.51 | 1,050 |
2020-04-01 | $169,900 (-6.0%) | $232,635 (-0.4%) | 0.53 | 1,020 |
2020-05-01 | $184,900 (-5.2%) | $234,893 (-3.4%) | 0.56 | 1,033 |
2020-06-01 | $209,900 (8.8%) | $257,088 (7.2%) | 0.62 | 925 |
2020-07-01 | $205,000 (6.7%) | $258,441 (9.2%) | 0.59 | 915 |
2020-08-01 | $205,000 (12.8%) | $254,149 (10.5%) | 0.59 | 896 |
2020-09-01 | $199,925 (17.9%) | $254,061 (15.1%) | 0.57 | 888 |
2020-10-01 | $189,900 (18.7%) | $251,176 (16.6%) | 0.54 | 872 |
2020-11-01 | $175,000 (12.9%) | $244,858 (17.0%) | 0.51 | 825 |
2020-12-01 | $165,825 (11.1%) | $237,463 (15.3%) | 0.49 | 734 |
2021-01-01 | $160,000 (8.5%) | $235,870 (13.9%) | 0.48 | 584 |
2021-02-01 | $160,225 (6.9%) | $233,999 (7.5%) | 0.47 | 455 |
2021-03-01 | $174,950 (6.7%) | $238,383 (6.4%) | 0.50 | 421 |
2021-04-01 | $184,900 (8.8%) | $249,667 (7.3%) | 0.50 | 395 |
2021-05-01 | $184,900 (0.0%) | $240,965 (2.6%) | 0.49 | 489 |
2021-06-01 | $190,350 (-9.3%) | $254,685 (-0.9%) | 0.50 | 579 |
2021-07-01 | $184,900 (-9.8%) | $248,738 (-3.8%) | 0.49 | 718 |
2021-08-01 | $184,925 (-9.8%) | $246,392 (-3.1%) | 0.49 | 851 |
2021-09-01 | $179,900 (-10.0%) | $242,810 (-4.4%) | 0.48 | 871 |
2021-10-01 | $179,900 (-5.3%) | $236,169 (-6.0%) | 0.48 | 801 |
2021-11-01 | $166,000 (-5.1%) | $223,620 (-8.7%) | 0.44 | 741 |
2021-12-01 | $155,000 (-6.5%) | $218,694 (-7.9%) | 0.42 | 616 |
2022-01-01 | $149,900 (-6.3%) | $216,850 (-8.1%) | 0.41 | 490 |
2022-02-01 | $152,450 (-4.9%) | $225,989 (-3.4%) | 0.40 | 390 |
2022-03-01 | $159,450 (-8.9%) | $230,672 (-3.2%) | 0.40 | 356 |
2022-04-01 | $189,900 (2.7%) | $256,931 (2.9%) | 0.45 | 348 |
2022-05-01 | $199,450 (7.9%) | $252,129 (4.6%) | 0.46 | 459 |
2022-06-01 | $199,900 (5.0%) | $261,520 (2.7%) | 0.45 | 589 |
2022-07-01 | $209,450 (13.3%) | $261,901 (5.3%) | 0.47 | 715 |
2022-08-01 | $202,500 (9.5%) | $258,301 (4.8%) | 0.47 | 841 |
2022-09-01 | $199,950 (11.2%) | $261,589 (7.7%) | 0.47 | 819 |
2022-10-01 | $209,900 (16.7%) | $261,971 (10.9%) | 0.49 | 873 |
2022-11-01 | $194,450 (17.1%) | $251,210 (12.3%) | 0.47 | 905 |
2022-12-01 | $189,900 (22.5%) | $248,068 (13.4%) | 0.47 | 786 |
2023-01-01 | $187,700 (25.2%) | $249,150 (14.9%) | 0.46 | 605 |
2023-02-01 | $199,925 (31.1%) | $257,020 (13.7%) | 0.48 | 482 |
2023-03-01 | $227,450 (42.7%) | $274,497 (19.0%) | 0.54 | 444 |
2023-04-01 | $229,900 (21.1%) | $273,541 (6.5%) | 0.53 | 430 |
2023-05-01 | $246,250 (23.5%) | $282,115 (11.9%) | 0.56 | 466 |
2023-06-01 | $259,850 (30.0%) | $294,605 (12.7%) | 0.58 | 521 |
2023-07-01 | $257,750 (23.1%) | $306,179 (16.9%) | 0.59 | 564 |
2023-08-01 | $249,900 (23.4%) | $297,437 (15.2%) | 0.57 | 625 |
2023-09-01 | $244,000 (22.0%) | $289,683 (10.7%) | 0.57 | 691 |
2023-10-01 | $244,100 (16.3%) | $287,651 (9.8%) | 0.57 | 750 |
2023-11-01 | $232,450 (19.5%) | $281,466 (12.0%) | 0.55 | 762 |
2023-12-01 | $224,900 (18.4%) | $274,559 (10.7%) | 0.55 | 721 |
2024-01-01 | $224,950 (19.9%) | $279,094 (12.0%) | 0.55 | 596 |
2024-02-01 | $209,975 (5.0%) | $273,633 (6.5%) | 0.51 | 558 |
2024-03-01 | $224,950 (-1.1%) | $279,289 (1.8%) | 0.53 | 539 |
2024-04-01 | $234,950 (2.2%) | $285,297 (4.3%) | 0.55 | 548 |
2024-05-01 | $249,900 (1.5%) | $298,673 (5.9%) | 0.56 | 559 |
2024-06-01 | $249,800 (-3.9%) | $301,655 (2.4%) | 0.56 | 614 |
2024-07-01 | $249,450 (-3.2%) | $300,746 (-1.8%) | 0.57 | 667 |
2024-08-01 | $239,900 (-4.0%) | $288,930 (-2.9%) | 0.56 | 776 |
2024-09-01 | $235,000 (-3.7%) | $281,904 (-2.7%) | 0.00 | 858 |
Lansing's median listing price comes in at 0% of the national average.
Lansing's average listing price for 2024-09-01 was $281,904, a difference of $-7,779 (-2.7%) versus the prior year and $-7,026 versus the prior month.
For the 2024-09-01 period, Lansing had 858 MLS listings, a difference of 82 listings (11%) versus the prior month and 167 listings (24%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Lansing (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 74 days | 1,600 sqft |
2018-02-01 | 66 days | 1,620 sqft |
2018-03-01 | 52 days | 1,650 sqft |
2018-04-01 | 46 days | 1,684 sqft |
2018-05-01 | 38 days | 1,700 sqft |
2018-06-01 | 39 days | 1,727 sqft |
2018-07-01 | 43 days | 1,727 sqft |
2018-08-01 | 42 days | 1,755 sqft |
2018-09-01 | 51 days | 1,728 sqft |
2018-10-01 | 58 days | 1,729 sqft |
2018-11-01 | 60 days | 1,695 sqft |
2018-12-01 | 70 days | 1,650 sqft |
2019-01-01 | 77 days | 1,625 sqft |
2019-02-01 | 74 days | 1,662 sqft |
2019-03-01 | 63 days | 1,675 sqft |
2019-04-01 | 48 days | 1,732 sqft |
2019-05-01 | 38 days | 1,787 sqft |
2019-06-01 | 38 days | 1,800 sqft |
2019-07-01 | 43 days | 1,798 sqft |
2019-08-01 | 44 days | 1,750 sqft |
2019-09-01 | 47 days | 1,711 sqft |
2019-10-01 | 49 days | 1,681 sqft |
2019-11-01 | 53 days | 1,652 sqft |
2019-12-01 | 67 days | 1,595 sqft |
2020-01-01 | 74 days | 1,586 sqft |
2020-02-01 | 68 days | 1,617 sqft |
2020-03-01 | 55 days | 1,664 sqft |
2020-04-01 | 58 days | 1,664 sqft |
2020-05-01 | 59 days | 1,704 sqft |
2020-06-01 | 43 days | 1,805 sqft |
2020-07-01 | 39 days | 1,758 sqft |
2020-08-01 | 36 days | 1,779 sqft |
2020-09-01 | 33 days | 1,765 sqft |
2020-10-01 | 36 days | 1,722 sqft |
2020-11-01 | 42 days | 1,662 sqft |
2020-12-01 | 51 days | 1,629 sqft |
2021-01-01 | 58 days | 1,579 sqft |
2021-02-01 | 45 days | 1,487 sqft |
2021-03-01 | 40 days | 1,498 sqft |
2021-04-01 | 37 days | 1,575 sqft |
2021-05-01 | 29 days | 1,596 sqft |
2021-06-01 | 22 days | 1,500 sqft |
2021-07-01 | 24 days | 1,496 sqft |
2021-08-01 | 24 days | 1,553 sqft |
2021-09-01 | 34 days | 1,571 sqft |
2021-10-01 | 37 days | 1,567 sqft |
2021-11-01 | 45 days | 1,475 sqft |
2021-12-01 | 52 days | 1,445 sqft |
2022-01-01 | 54 days | 1,440 sqft |
2022-02-01 | 44 days | 1,447 sqft |
2022-03-01 | 38 days | 1,457 sqft |
2022-04-01 | 28 days | 1,593 sqft |
2022-05-01 | 22 days | 1,572 sqft |
2022-06-01 | 23 days | 1,595 sqft |
2022-07-01 | 26 days | 1,618 sqft |
2022-08-01 | 30 days | 1,612 sqft |
2022-09-01 | 40 days | 1,600 sqft |
2022-10-01 | 40 days | 1,632 sqft |
2022-11-01 | 44 days | 1,600 sqft |
2022-12-01 | 54 days | 1,592 sqft |
2023-01-01 | 61 days | 1,561 sqft |
2023-02-01 | 54 days | 1,584 sqft |
2023-03-01 | 44 days | 1,628 sqft |
2023-04-01 | 35 days | 1,652 sqft |
2023-05-01 | 28 days | 1,689 sqft |
2023-06-01 | 30 days | 1,734 sqft |
2023-07-01 | 34 days | 1,779 sqft |
2023-08-01 | 35 days | 1,746 sqft |
2023-09-01 | 37 days | 1,700 sqft |
2023-10-01 | 37 days | 1,684 sqft |
2023-11-01 | 42 days | 1,661 sqft |
2023-12-01 | 50 days | 1,601 sqft |
2024-01-01 | 58 days | 1,599 sqft |
2024-02-01 | 52 days | 1,533 sqft |
2024-03-01 | 40 days | 1,589 sqft |
2024-04-01 | 36 days | 1,639 sqft |
2024-05-01 | 24 days | 1,713 sqft |
2024-06-01 | 24 days | 1,737 sqft |
2024-07-01 | 34 days | 1,732 sqft |
2024-08-01 | 33 days | 1,646 sqft |
2024-09-01 | 0 days | 1,641 sqft |
Lansing's median square footage for active listings during the 2024-09-01 period was 1,641 sqft. One year prior, the average listing was 1,700 sqft.