Marquette USDA Loan Rates, Closing Costs & Stats

Marquette, 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.

    Marquette's 4 lenders originated 8 USDA loans during 2023. The total origination value was $1,230,000, with an average USDA loan value of $153,750.

    Marquette USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Marquette averaged 7.18% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Marquette's average USDA mortgage closing costs are $3,704.

    The average rate for the prior week (2024-04-12) was 7.04% and one month ago for the week of 2024-03-15, the average rate was 6.82%.

    The average rate one year ago was 6.46%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    Marquette 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 Marquette level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    IncredibleBank 3 6.46% $4,411
    MICHIGAN MUTUAL, INC. 3 6.96% $8,284
    BROKER SOLUTIONS, INC. 1 6.25% $6,068
    Flagstar Bank, FSB 1 7.25% $6,507

    The top Marquette USDA lender as defined by loan originations is IncredibleBank, with 3 USDA loans originated. Their average total fees are $4,411, which is $3,873 lower than the next largest lender, MICHIGAN MUTUAL, INC..

    The lowest fee Marquette USDA lenders (with over 10 loans originated) are .

    The lowest rate Marquette USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Marquette (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 $164,900 (12.0%) $410,398 (73.4%) 0.00 329
    2018-02-01 $169,900 (11.0%) $440,510 (83.6%) 0.00 301
    2018-03-01 $174,500 (9.1%) $445,632 (84.7%) 0.00 303
    2018-04-01 $179,150 (5.4%) $443,281 (69.3%) 0.00 310
    2018-05-01 $188,200 (10.8%) $435,812 (71.1%) 0.00 336
    2018-06-01 $184,500 (9.8%) $392,320 (57.0%) 0.00 388
    2018-07-01 $189,575 (11.6%) $381,634 (50.8%) 0.00 416
    2018-08-01 $189,900 (11.8%) $360,330 (43.6%) 0.00 430
    2018-09-01 $179,999 (12.6%) $384,761 (32.4%) 0.00 444
    2018-10-01 $184,550 (15.4%) $390,794 (25.5%) 0.00 420
    2018-11-01 $179,900 (15.2%) $400,366 (12.9%) 0.00 389
    2018-12-01 $189,700 (20.5%) $424,558 (13.8%) 0.00 340
    2019-01-01 $189,250 (14.8%) $454,992 (10.9%) 0.00 286
    2019-02-01 $187,250 (10.2%) $470,302 (6.8%) 0.00 273
    2019-03-01 $198,243 (13.6%) $425,936 (-4.4%) 0.00 262
    2019-04-01 $210,450 (17.5%) $358,943 (-19.0%) 0.00 255
    2019-05-01 $209,500 (11.3%) $352,392 (-19.1%) 0.00 271
    2019-06-01 $210,000 (13.8%) $326,032 (-16.9%) 0.00 336
    2019-07-01 $196,450 (3.6%) $307,087 (-19.5%) 0.00 363
    2019-08-01 $188,564 (-0.7%) $300,993 (-16.5%) 0.00 373
    2019-09-01 $186,559 (3.6%) $294,575 (-23.4%) 0.00 382
    2019-10-01 $185,200 (0.4%) $287,846 (-26.3%) 0.00 387
    2019-11-01 $178,800 (-0.6%) $254,108 (-36.5%) 0.00 348
    2019-12-01 $179,900 (-5.2%) $264,576 (-37.7%) 0.00 296
    2020-01-01 $177,600 (-6.2%) $261,968 (-42.4%) 0.00 240
    2020-02-01 $189,900 (1.4%) $307,578 (-34.6%) 0.00 221
    2020-03-01 $190,450 (-3.9%) $325,167 (-23.7%) 0.00 204
    2020-04-01 $208,325 (-1.0%) $330,346 (-8.0%) 0.00 201
    2020-05-01 $210,000 (0.2%) $322,024 (-8.6%) 0.00 204
    2020-06-01 $199,900 (-4.8%) $365,565 (12.1%) 0.00 211
    2020-07-01 $221,200 (12.6%) $379,384 (23.5%) 0.00 206
    2020-08-01 $209,500 (11.1%) $344,467 (14.4%) 0.00 196
    2020-09-01 $199,875 (7.1%) $356,466 (21.0%) 0.00 181
    2020-10-01 $189,500 (2.3%) $361,040 (25.4%) 0.00 166
    2020-11-01 $182,425 (2.0%) $333,031 (31.1%) 0.00 151
    2020-12-01 $185,450 (3.1%) $337,338 (27.5%) 0.00 132
    2021-01-01 $189,500 (6.7%) $360,236 (37.5%) 0.00 110
    2021-02-01 $214,000 (12.7%) $426,282 (38.6%) 0.00 88
    2021-03-01 $222,200 (16.7%) $408,137 (25.5%) 0.00 104
    2021-04-01 $233,625 (12.1%) $448,254 (35.7%) 0.00 97
    2021-05-01 $249,900 (19.0%) $428,702 (33.1%) 0.00 118
    2021-06-01 $249,700 (24.9%) $419,705 (14.8%) 0.00 132
    2021-07-01 $250,000 (13.0%) $421,792 (11.2%) 0.00 133
    2021-08-01 $250,000 (19.3%) $441,228 (28.1%) 0.00 129
    2021-09-01 $292,175 (46.2%) $447,700 (25.6%) 0.00 116
    2021-10-01 $250,000 (31.9%) $451,875 (25.2%) 0.00 101
    2021-11-01 $221,175 (21.2%) $464,758 (39.6%) 0.00 77
    2021-12-01 $183,700 (-0.9%) $429,432 (27.3%) 0.00 74
    2022-01-01 $188,500 (-0.5%) $464,400 (28.9%) 0.00 61
    2022-02-01 $229,725 (7.4%) $500,450 (17.4%) 0.00 59
    2022-03-01 $265,000 (19.3%) $574,008 (40.6%) 0.00 45
    2022-04-01 $201,950 (-13.6%) $534,160 (19.2%) 0.00 49
    2022-05-01 $208,450 (-16.6%) $297,377 (-30.6%) 0.00 65
    2022-06-01 $239,900 (-3.9%) $373,476 (-11.0%) 0.00 89
    2022-07-01 $242,450 (-3.0%) $380,233 (-9.9%) 0.00 112
    2022-08-01 $254,200 (1.7%) $394,928 (-10.5%) 0.00 124
    2022-09-01 $241,750 (-17.3%) $404,000 (-9.8%) 0.00 120
    2022-10-01 $249,999 (0.0%) $432,068 (-4.4%) 0.00 106
    2022-11-01 $265,000 (19.8%) $437,651 (-5.8%) 0.00 92
    2022-12-01 $272,500 (48.3%) $445,368 (3.7%) 0.00 74
    2023-01-01 $255,750 (35.7%) $450,665 (-3.0%) 0.00 69
    2023-02-01 $264,000 (14.9%) $480,578 (-4.0%) 0.00 52
    2023-03-01 $316,475 (19.4%) $507,234 (-11.6%) 0.00 46
    2023-04-01 $294,500 (45.8%) $525,809 (-1.6%) 0.00 47
    2023-05-01 $294,725 (41.4%) $464,109 (56.1%) 0.00 69
    2023-06-01 $332,400 (38.6%) $449,910 (20.5%) 0.00 80
    2023-07-01 $326,950 (34.9%) $455,785 (19.9%) 0.00 111
    2023-08-01 $299,675 (17.9%) $452,546 (14.6%) 0.00 121
    2023-09-01 $304,900 (26.1%) $441,774 (9.4%) 0.00 124
    2023-10-01 $332,450 (33.0%) $446,284 (3.3%) 0.00 120
    2023-11-01 $336,000 (26.8%) $458,605 (4.8%) 0.00 107
    2023-12-01 $364,950 (33.9%) $488,693 (9.7%) 0.00 91
    2024-01-01 $328,000 (28.3%) $461,550 (2.4%) 0.00 74
    2024-02-01 $332,425 (25.9%) $460,532 (-4.2%) 0.00 74
    2024-03-01 $329,900 (4.2%) $477,401 (-5.9%) 0.00 77
    Marquette's median listing price for 2024-03-01 was $329,900, a difference of $13,425 (4.2%) versus the prior year and $-2,525 versus the prior month.

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

    Marquette's average listing price for 2024-03-01 was $477,401, a difference of $-29,833 (-5.9%) versus the prior year and $16,869 versus the prior month.

    For the 2024-03-01 period, Marquette had 77 MLS listings, a difference of 3 listings (4%) versus the prior month and 31 listings (67%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Marquette (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,618 sqft
    2018-02-01 0 days 1,624 sqft
    2018-03-01 0 days 1,603 sqft
    2018-04-01 0 days 1,604 sqft
    2018-05-01 0 days 1,585 sqft
    2018-06-01 0 days 1,540 sqft
    2018-07-01 0 days 1,534 sqft
    2018-08-01 0 days 1,553 sqft
    2018-09-01 0 days 1,544 sqft
    2018-10-01 0 days 1,540 sqft
    2018-11-01 0 days 1,515 sqft
    2018-12-01 0 days 1,512 sqft
    2019-01-01 0 days 1,494 sqft
    2019-02-01 0 days 1,493 sqft
    2019-03-01 0 days 1,495 sqft
    2019-04-01 0 days 1,517 sqft
    2019-05-01 0 days 1,527 sqft
    2019-06-01 0 days 1,576 sqft
    2019-07-01 0 days 1,560 sqft
    2019-08-01 0 days 1,568 sqft
    2019-09-01 0 days 1,579 sqft
    2019-10-01 0 days 1,586 sqft
    2019-11-01 0 days 1,552 sqft
    2019-12-01 0 days 1,569 sqft
    2020-01-01 0 days 1,560 sqft
    2020-02-01 0 days 1,568 sqft
    2020-03-01 0 days 1,534 sqft
    2020-04-01 0 days 1,528 sqft
    2020-05-01 0 days 1,520 sqft
    2020-06-01 0 days 1,486 sqft
    2020-07-01 0 days 1,544 sqft
    2020-08-01 0 days 1,494 sqft
    2020-09-01 0 days 1,479 sqft
    2020-10-01 0 days 1,440 sqft
    2020-11-01 0 days 1,352 sqft
    2020-12-01 0 days 1,348 sqft
    2021-01-01 0 days 1,430 sqft
    2021-02-01 0 days 1,526 sqft
    2021-03-01 0 days 1,560 sqft
    2021-04-01 0 days 1,560 sqft
    2021-05-01 0 days 1,560 sqft
    2021-06-01 0 days 1,560 sqft
    2021-07-01 0 days 1,560 sqft
    2021-08-01 0 days 1,560 sqft
    2021-09-01 0 days 1,560 sqft
    2021-10-01 0 days 1,555 sqft
    2021-11-01 0 days 1,531 sqft
    2021-12-01 0 days 1,314 sqft
    2022-01-01 0 days 1,316 sqft
    2022-02-01 0 days 1,496 sqft
    2022-03-01 0 days 1,389 sqft
    2022-04-01 0 days 1,352 sqft
    2022-05-01 0 days 1,387 sqft
    2022-06-01 0 days 1,555 sqft
    2022-07-01 0 days 1,491 sqft
    2022-08-01 0 days 1,599 sqft
    2022-09-01 0 days 1,471 sqft
    2022-10-01 0 days 1,359 sqft
    2022-11-01 0 days 1,433 sqft
    2022-12-01 0 days 1,350 sqft
    2023-01-01 0 days 1,279 sqft
    2023-02-01 0 days 1,274 sqft
    2023-03-01 0 days 1,414 sqft
    2023-04-01 0 days 1,597 sqft
    2023-05-01 0 days 1,592 sqft
    2023-06-01 0 days 1,503 sqft
    2023-07-01 0 days 1,339 sqft
    2023-08-01 0 days 1,349 sqft
    2023-09-01 0 days 1,443 sqft
    2023-10-01 0 days 1,409 sqft
    2023-11-01 0 days 1,362 sqft
    2023-12-01 0 days 1,527 sqft
    2024-01-01 0 days 1,312 sqft
    2024-02-01 0 days 1,513 sqft
    2024-03-01 0 days 1,584 sqft
    Marquette's median listing age (time on market) for 2024-03-01 was 0 days.

    Marquette's median square footage for active listings during the 2024-03-01 period was 1,584 sqft. One year prior, the average listing was 1,414 sqft.