Ludington USDA Loan Rates, Closing Costs & Stats
Ludington, 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.
Ludington's 1 lenders originated 1 USDA loans during 2023. The total origination value was $145,000, with an average USDA loan value of $145,000.
Ludington USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Ludington
averaged
6.86%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Ludington's average USDA mortgage closing costs are $5,214.
The average rate for the prior week (2024-04-12) was
7.02% and
one month ago for the week of 2024-03-15, the
average rate was 6.7%.
The average rate one year ago was 6.54%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.76%.
Ludington 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 Ludington level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| MORTGAGE 1 INCORPORATED | 1 | 6.63% | $7,071 |
The lowest fee Ludington USDA lenders (with over 10 loans originated) are
.
The lowest rate Ludington USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Ludington (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 | $192,950 (19.3%) | $283,324 (7.3%) | 0.00 | 159 |
| 2018-02-01 | $189,900 (8.2%) | $273,913 (-0.8%) | 0.00 | 157 |
| 2018-03-01 | $189,900 (7.5%) | $273,751 (1.5%) | 0.00 | 146 |
| 2018-04-01 | $199,900 (24.9%) | $278,902 (8.7%) | 0.00 | 161 |
| 2018-05-01 | $199,900 (16.9%) | $287,104 (12.2%) | 0.00 | 169 |
| 2018-06-01 | $212,500 (18.1%) | $300,738 (12.4%) | 0.00 | 196 |
| 2018-07-01 | $214,975 (19.8%) | $303,928 (15.1%) | 0.00 | 207 |
| 2018-08-01 | $213,500 (22.1%) | $299,790 (12.5%) | 0.00 | 201 |
| 2018-09-01 | $199,900 (14.9%) | $293,112 (7.2%) | 0.00 | 200 |
| 2018-10-01 | $199,400 (11.0%) | $282,495 (2.0%) | 0.00 | 192 |
| 2018-11-01 | $192,425 (-1.3%) | $276,325 (1.0%) | 0.00 | 183 |
| 2018-12-01 | $182,400 (-4.0%) | $276,735 (-1.5%) | 0.00 | 162 |
| 2019-01-01 | $182,425 (-5.5%) | $273,911 (-3.3%) | 0.00 | 151 |
| 2019-02-01 | $182,425 (-3.9%) | $275,393 (0.5%) | 0.00 | 146 |
| 2019-03-01 | $191,329 (0.8%) | $280,582 (2.5%) | 0.00 | 144 |
| 2019-04-01 | $195,379 (-2.3%) | $280,745 (0.7%) | 0.00 | 149 |
| 2019-05-01 | $194,900 (-2.5%) | $267,053 (-7.0%) | 0.00 | 165 |
| 2019-06-01 | $215,000 (1.2%) | $271,758 (-9.6%) | 0.00 | 176 |
| 2019-07-01 | $229,000 (6.5%) | $285,115 (-6.2%) | 0.00 | 196 |
| 2019-08-01 | $225,627 (5.7%) | $287,143 (-4.2%) | 0.00 | 197 |
| 2019-09-01 | $231,293 (15.7%) | $289,609 (-1.2%) | 0.00 | 195 |
| 2019-10-01 | $235,070 (17.9%) | $292,701 (3.6%) | 0.00 | 193 |
| 2019-11-01 | $205,000 (6.5%) | $282,768 (2.3%) | 0.00 | 186 |
| 2019-12-01 | $221,875 (21.6%) | $285,339 (3.1%) | 0.00 | 170 |
| 2020-01-01 | $224,750 (23.2%) | $281,141 (2.6%) | 0.00 | 147 |
| 2020-02-01 | $225,000 (23.3%) | $272,774 (-1.0%) | 0.00 | 141 |
| 2020-03-01 | $236,500 (23.6%) | $283,315 (1.0%) | 0.00 | 137 |
| 2020-04-01 | $235,500 (20.5%) | $284,463 (1.3%) | 0.00 | 131 |
| 2020-05-01 | $236,500 (21.3%) | $281,137 (5.3%) | 0.00 | 149 |
| 2020-06-01 | $232,000 (7.9%) | $290,200 (6.8%) | 0.00 | 147 |
| 2020-07-01 | $246,925 (7.8%) | $312,841 (9.7%) | 0.00 | 134 |
| 2020-08-01 | $249,000 (10.4%) | $339,131 (18.1%) | 0.00 | 108 |
| 2020-09-01 | $241,500 (4.4%) | $337,030 (16.4%) | 0.00 | 94 |
| 2020-10-01 | $215,000 (-8.5%) | $323,689 (10.6%) | 0.00 | 86 |
| 2020-11-01 | $219,225 (6.9%) | $322,046 (13.9%) | 0.00 | 81 |
| 2020-12-01 | $224,225 (1.1%) | $323,623 (13.4%) | 0.00 | 71 |
| 2021-01-01 | $244,900 (9.0%) | $324,436 (15.4%) | 0.00 | 54 |
| 2021-02-01 | $272,450 (21.1%) | $354,514 (30.0%) | 0.00 | 48 |
| 2021-03-01 | $280,100 (18.4%) | $368,242 (30.0%) | 0.00 | 41 |
| 2021-04-01 | $299,000 (27.0%) | $421,345 (48.1%) | 0.00 | 56 |
| 2021-05-01 | $299,000 (26.4%) | $377,554 (34.3%) | 0.00 | 59 |
| 2021-06-01 | $296,500 (27.8%) | $386,676 (33.2%) | 0.00 | 70 |
| 2021-07-01 | $295,000 (19.5%) | $372,867 (19.2%) | 0.00 | 68 |
| 2021-08-01 | $299,725 (20.4%) | $378,634 (11.7%) | 0.00 | 67 |
| 2021-09-01 | $281,975 (16.8%) | $359,984 (6.8%) | 0.00 | 67 |
| 2021-10-01 | $279,000 (29.8%) | $341,925 (5.6%) | 0.00 | 65 |
| 2021-11-01 | $277,000 (26.4%) | $401,636 (24.7%) | 0.00 | 52 |
| 2021-12-01 | $282,000 (25.8%) | $397,551 (22.8%) | 0.00 | 55 |
| 2022-01-01 | $342,000 (39.7%) | $452,597 (39.5%) | 0.00 | 44 |
| 2022-02-01 | $360,000 (32.1%) | $475,940 (34.3%) | 0.00 | 36 |
| 2022-03-01 | $335,950 (19.9%) | $465,191 (26.3%) | 0.00 | 33 |
| 2022-04-01 | $337,000 (12.7%) | $466,554 (10.7%) | 0.00 | 35 |
| 2022-05-01 | $397,500 (32.9%) | $457,415 (21.2%) | 0.00 | 51 |
| 2022-06-01 | $376,000 (26.8%) | $439,483 (13.7%) | 0.00 | 55 |
| 2022-07-01 | $289,900 (-1.7%) | $384,348 (3.1%) | 0.00 | 67 |
| 2022-08-01 | $286,675 (-4.4%) | $384,896 (1.7%) | 0.00 | 79 |
| 2022-09-01 | $288,725 (2.4%) | $389,723 (8.3%) | 0.00 | 78 |
| 2022-10-01 | $262,450 (-5.9%) | $382,374 (11.8%) | 0.00 | 81 |
| 2022-11-01 | $280,000 (1.1%) | $391,989 (-2.4%) | 0.00 | 73 |
| 2022-12-01 | $259,000 (-8.2%) | $373,986 (-5.9%) | 0.00 | 60 |
| 2023-01-01 | $236,175 (-30.9%) | $375,919 (-16.9%) | 0.00 | 47 |
| 2023-02-01 | $229,850 (-36.2%) | $375,917 (-21.0%) | 0.00 | 36 |
| 2023-03-01 | $235,950 (-29.8%) | $385,323 (-17.2%) | 0.00 | 32 |
| 2023-04-01 | $289,900 (-14.0%) | $375,418 (-19.5%) | 0.00 | 31 |
| 2023-05-01 | $287,000 (-27.8%) | $411,757 (-10.0%) | 0.00 | 40 |
| 2023-06-01 | $287,000 (-23.7%) | $401,862 (-8.6%) | 0.00 | 44 |
| 2023-07-01 | $304,500 (5.0%) | $432,436 (12.5%) | 0.00 | 45 |
| 2023-08-01 | $296,900 (3.6%) | $422,917 (9.9%) | 0.00 | 52 |
| 2023-09-01 | $298,950 (3.5%) | $401,378 (3.0%) | 0.00 | 67 |
| 2023-10-01 | $299,675 (14.2%) | $401,740 (5.1%) | 0.00 | 72 |
| 2023-11-01 | $360,000 (28.6%) | $421,564 (7.5%) | 0.00 | 75 |
| 2023-12-01 | $379,900 (46.7%) | $445,188 (19.0%) | 0.00 | 75 |
| 2024-01-01 | $384,725 (62.9%) | $436,586 (16.1%) | 0.00 | 65 |
| 2024-02-01 | $389,900 (69.6%) | $437,577 (16.4%) | 0.00 | 61 |
| 2024-03-01 | $389,900 (65.3%) | $399,974 (3.8%) | 0.00 | 74 |
Ludington's median listing price comes in at 0% of the national average.
Ludington's average listing price for 2024-03-01 was $399,974, a difference of $14,651 (3.8%) versus the prior year and $-37,603 versus the prior month.
For the 2024-03-01 period, Ludington had 74 MLS listings, a difference of 13 listings (21%) versus the prior month and 42 listings (131%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Ludington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,778 sqft |
| 2018-02-01 | 0 days | 1,744 sqft |
| 2018-03-01 | 0 days | 1,720 sqft |
| 2018-04-01 | 0 days | 1,656 sqft |
| 2018-05-01 | 0 days | 1,590 sqft |
| 2018-06-01 | 0 days | 1,650 sqft |
| 2018-07-01 | 0 days | 1,611 sqft |
| 2018-08-01 | 0 days | 1,614 sqft |
| 2018-09-01 | 0 days | 1,624 sqft |
| 2018-10-01 | 0 days | 1,678 sqft |
| 2018-11-01 | 0 days | 1,610 sqft |
| 2018-12-01 | 0 days | 1,648 sqft |
| 2019-01-01 | 0 days | 1,690 sqft |
| 2019-02-01 | 0 days | 1,706 sqft |
| 2019-03-01 | 0 days | 1,751 sqft |
| 2019-04-01 | 0 days | 1,759 sqft |
| 2019-05-01 | 0 days | 1,700 sqft |
| 2019-06-01 | 0 days | 1,644 sqft |
| 2019-07-01 | 0 days | 1,755 sqft |
| 2019-08-01 | 0 days | 1,764 sqft |
| 2019-09-01 | 0 days | 1,756 sqft |
| 2019-10-01 | 0 days | 1,750 sqft |
| 2019-11-01 | 0 days | 1,712 sqft |
| 2019-12-01 | 0 days | 1,700 sqft |
| 2020-01-01 | 0 days | 1,655 sqft |
| 2020-02-01 | 0 days | 1,624 sqft |
| 2020-03-01 | 0 days | 1,611 sqft |
| 2020-04-01 | 0 days | 1,520 sqft |
| 2020-05-01 | 0 days | 1,570 sqft |
| 2020-06-01 | 0 days | 1,619 sqft |
| 2020-07-01 | 0 days | 1,696 sqft |
| 2020-08-01 | 0 days | 1,700 sqft |
| 2020-09-01 | 0 days | 1,700 sqft |
| 2020-10-01 | 0 days | 1,616 sqft |
| 2020-11-01 | 0 days | 1,597 sqft |
| 2020-12-01 | 0 days | 1,489 sqft |
| 2021-01-01 | 0 days | 1,452 sqft |
| 2021-02-01 | 0 days | 1,523 sqft |
| 2021-03-01 | 0 days | 1,523 sqft |
| 2021-04-01 | 0 days | 1,523 sqft |
| 2021-05-01 | 0 days | 1,792 sqft |
| 2021-06-01 | 0 days | 1,723 sqft |
| 2021-07-01 | 0 days | 1,644 sqft |
| 2021-08-01 | 0 days | 1,583 sqft |
| 2021-09-01 | 0 days | 1,562 sqft |
| 2021-10-01 | 0 days | 1,562 sqft |
| 2021-11-01 | 0 days | 1,590 sqft |
| 2021-12-01 | 0 days | 1,561 sqft |
| 2022-01-01 | 0 days | 1,602 sqft |
| 2022-02-01 | 0 days | 1,902 sqft |
| 2022-03-01 | 0 days | 2,006 sqft |
| 2022-04-01 | 0 days | 1,995 sqft |
| 2022-05-01 | 0 days | 2,091 sqft |
| 2022-06-01 | 0 days | 2,186 sqft |
| 2022-07-01 | 0 days | 1,874 sqft |
| 2022-08-01 | 0 days | 1,781 sqft |
| 2022-09-01 | 0 days | 1,799 sqft |
| 2022-10-01 | 0 days | 1,730 sqft |
| 2022-11-01 | 0 days | 1,773 sqft |
| 2022-12-01 | 0 days | 1,624 sqft |
| 2023-01-01 | 0 days | 1,510 sqft |
| 2023-02-01 | 0 days | 1,567 sqft |
| 2023-03-01 | 0 days | 1,568 sqft |
| 2023-04-01 | 0 days | 1,600 sqft |
| 2023-05-01 | 0 days | 1,619 sqft |
| 2023-06-01 | 0 days | 1,512 sqft |
| 2023-07-01 | 0 days | 1,568 sqft |
| 2023-08-01 | 0 days | 1,557 sqft |
| 2023-09-01 | 0 days | 1,663 sqft |
| 2023-10-01 | 0 days | 1,692 sqft |
| 2023-11-01 | 0 days | 1,752 sqft |
| 2023-12-01 | 0 days | 1,780 sqft |
| 2024-01-01 | 0 days | 1,722 sqft |
| 2024-02-01 | 0 days | 1,704 sqft |
| 2024-03-01 | 0 days | 1,780 sqft |
Ludington's median square footage for active listings during the 2024-03-01 period was 1,780 sqft. One year prior, the average listing was 1,568 sqft.