Mount Pleasant USDA Loan Rates, Closing Costs & Stats
Mount Pleasant, 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.
Mount Pleasant's 15 lenders originated 28 USDA loans during 2021. The total origination value was $4,090,000, with an average USDA loan value of $146,071.
Mount Pleasant USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Mount Pleasant
averaged
6.66%
for the week of 2023-03-17, compared to the national average (all USDA variants) of
6.497% for the same period.
Mount Pleasant's average USDA mortgage closing costs are $4,292.
The average rate for the prior week (2023-03-10) was
6.68% and
one month ago for the week of 2023-02-10, the
average rate was 6.45%.
The average rate one year ago was 4.13%.
For refis of the same type during the week of 2023-03-17, the average rate
was 6.21%.
Mount Pleasant 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 Mount Pleasant level.
| Name | # of Loans | 2021 Avg. 30yFix Rate | 2021 Avg. Closing Costs |
|---|---|---|---|
| Isabella Bank | 5 | 3.40% | $4,064 |
| TOP FLITE FINANCIAL, INC. | 3 | 3.25% | $6,525 |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | 3 | 3.29% | $5,015 |
| ACADEMY MORTGAGE CORPORATION | 3 | 3.42% | $5,498 |
| PENNYMAC LOAN SERVICES, LLC | 2 | 2.94% | $3,687 |
| J. VIRGIL, INC. | 2 | 3.06% | $7,687 |
| Flagstar Bank, FSB | 2 | 3.06% | $5,862 |
| TOWNE MORTGAGE COMPANY | 1 | 3.13% | $5,393 |
| UNION HOME MORTGAGE CORP. | 1 | 2.75% | $3,680 |
| AMERICAN FINANCIAL RESOURCES, INC. | 1 | 3.75% | $6,808 |
| MEMBERS FIRST Credit Union | 1 | 2.63% | $3,657 |
| Mercantile Bank of Michigan | 1 | 2.75% | $3,363 |
| MID AMERICA MORTGAGE, INC. | 1 | 3.25% | $3,495 |
| Neighborhood Loans, Inc. | 1 | 3.25% | $3,935 |
| NFM, INC. | 1 | 2.75% | $1,667 |
The top Mount Pleasant USDA lender as defined by loan originations is Isabella Bank, with
5 USDA loans originated. Their average total fees are
$4,064, which is $2,461
lower than the next largest lender,
TOP FLITE FINANCIAL, INC..
The lowest fee Mount Pleasant USDA lenders (with over 10 loans originated) are
.
The lowest rate Mount Pleasant USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Mount Pleasant (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 | $144,950 (5.4%) | $176,471 (7.5%) | 0.00 | 272 |
| 2018-02-01 | $143,700 (1.1%) | $175,689 (5.5%) | 0.00 | 264 |
| 2018-03-01 | $149,000 (2.8%) | $178,876 (6.9%) | 0.00 | 272 |
| 2018-04-01 | $149,900 (0.0%) | $185,458 (7.3%) | 0.00 | 283 |
| 2018-05-01 | $152,425 (4.5%) | $187,386 (7.1%) | 0.00 | 292 |
| 2018-06-01 | $149,900 (3.1%) | $182,197 (3.5%) | 0.00 | 324 |
| 2018-07-01 | $150,000 (0.1%) | $182,794 (3.5%) | 0.00 | 340 |
| 2018-08-01 | $149,900 (0.1%) | $180,797 (0.9%) | 0.00 | 336 |
| 2018-09-01 | $149,900 (0.0%) | $183,094 (3.2%) | 0.00 | 341 |
| 2018-10-01 | $150,000 (3.5%) | $185,092 (5.8%) | 0.00 | 325 |
| 2018-11-01 | $150,000 (8.3%) | $184,830 (6.8%) | 0.00 | 319 |
| 2018-12-01 | $150,000 (3.5%) | $184,769 (5.2%) | 0.00 | 302 |
| 2019-01-01 | $154,900 (6.9%) | $187,590 (6.3%) | 0.00 | 262 |
| 2019-02-01 | $149,950 (4.4%) | $186,303 (6.0%) | 0.00 | 259 |
| 2019-03-01 | $152,086 (2.1%) | $186,264 (4.1%) | 0.00 | 271 |
| 2019-04-01 | $157,450 (5.0%) | $188,674 (1.7%) | 0.00 | 276 |
| 2019-05-01 | $163,100 (7.0%) | $196,538 (4.9%) | 0.00 | 278 |
| 2019-06-01 | $159,000 (6.1%) | $192,044 (5.4%) | 0.00 | 301 |
| 2019-07-01 | $158,200 (5.5%) | $188,863 (3.3%) | 0.00 | 322 |
| 2019-08-01 | $161,363 (7.7%) | $189,433 (4.8%) | 0.00 | 305 |
| 2019-09-01 | $163,409 (9.0%) | $189,492 (3.5%) | 0.00 | 281 |
| 2019-10-01 | $167,125 (11.4%) | $190,079 (2.7%) | 0.00 | 241 |
| 2019-11-01 | $169,900 (13.3%) | $202,707 (9.7%) | 0.00 | 190 |
| 2019-12-01 | $169,900 (13.3%) | $206,830 (11.9%) | 0.00 | 173 |
| 2020-01-01 | $169,900 (9.7%) | $205,794 (9.7%) | 0.00 | 165 |
| 2020-02-01 | $174,900 (16.6%) | $205,533 (10.3%) | 0.00 | 155 |
| 2020-03-01 | $181,225 (19.2%) | $205,681 (10.4%) | 0.00 | 161 |
| 2020-04-01 | $182,175 (15.7%) | $213,434 (13.1%) | 0.00 | 143 |
| 2020-05-01 | $168,175 (3.1%) | $203,225 (3.4%) | 0.00 | 150 |
| 2020-06-01 | $179,975 (13.2%) | $211,813 (10.3%) | 0.00 | 160 |
| 2020-07-01 | $182,500 (15.4%) | $214,638 (13.7%) | 0.00 | 162 |
| 2020-08-01 | $179,500 (11.2%) | $223,430 (18.0%) | 0.00 | 148 |
| 2020-09-01 | $187,175 (14.5%) | $233,534 (23.2%) | 0.00 | 137 |
| 2020-10-01 | $194,900 (16.6%) | $234,824 (23.5%) | 0.00 | 131 |
| 2020-11-01 | $185,000 (8.9%) | $231,038 (14.0%) | 0.00 | 132 |
| 2020-12-01 | $169,950 (0.0%) | $223,377 (8.0%) | 0.00 | 129 |
| 2021-01-01 | $159,900 (-5.9%) | $216,483 (5.2%) | 0.00 | 97 |
| 2021-02-01 | $163,675 (-6.4%) | $231,378 (12.6%) | 0.00 | 74 |
| 2021-03-01 | $164,925 (-9.0%) | $236,707 (15.1%) | 0.00 | 74 |
| 2021-04-01 | $212,375 (16.6%) | $271,221 (27.1%) | 0.00 | 65 |
| 2021-05-01 | $200,000 (18.9%) | $254,037 (25.0%) | 0.00 | 70 |
| 2021-06-01 | $182,200 (1.2%) | $227,470 (7.4%) | 0.00 | 88 |
| 2021-07-01 | $185,000 (1.4%) | $236,134 (10.0%) | 0.00 | 111 |
| 2021-08-01 | $187,375 (4.4%) | $220,721 (-1.2%) | 0.00 | 123 |
| 2021-09-01 | $182,500 (-2.5%) | $216,401 (-7.3%) | 0.00 | 128 |
| 2021-10-01 | $179,950 (-7.7%) | $211,115 (-10.1%) | 0.00 | 126 |
| 2021-11-01 | $179,400 (-3.0%) | $217,132 (-6.0%) | 0.00 | 109 |
| 2021-12-01 | $179,950 (5.9%) | $218,330 (-2.3%) | 0.00 | 92 |
| 2022-01-01 | $179,950 (12.5%) | $228,061 (5.4%) | 0.00 | 80 |
| 2022-02-01 | $179,900 (9.9%) | $227,287 (-1.8%) | 0.00 | 63 |
| 2022-03-01 | $179,900 (9.1%) | $227,673 (-3.8%) | 0.00 | 50 |
| 2022-04-01 | $184,700 (-13.0%) | $235,886 (-13.0%) | 0.00 | 55 |
| 2022-05-01 | $178,650 (-10.7%) | $225,238 (-11.3%) | 0.00 | 70 |
| 2022-06-01 | $184,925 (1.5%) | $234,172 (3.0%) | 0.00 | 89 |
| 2022-07-01 | $217,400 (17.5%) | $242,690 (2.8%) | 0.00 | 96 |
| 2022-08-01 | $204,250 (9.0%) | $250,130 (13.3%) | 0.00 | 121 |
| 2022-09-01 | $203,500 (11.5%) | $248,280 (14.7%) | 0.00 | 128 |
| 2022-10-01 | $186,900 (3.9%) | $248,648 (17.8%) | 0.00 | 122 |
| 2022-11-01 | $197,225 (9.9%) | $258,288 (19.0%) | 0.00 | 106 |
| 2022-12-01 | $224,900 (25.0%) | $271,777 (24.5%) | 0.00 | 91 |
| 2023-01-01 | $224,700 (24.9%) | $263,888 (15.7%) | 0.00 | 79 |
| 2023-02-01 | $226,350 (25.8%) | $276,013 (21.4%) | 0.00 | 76 |
Mount Pleasant's median listing price comes in at 0% of the national average.
Mount Pleasant's average listing price for 2023-02-01 was $276,013, a difference of $48,726 (21.4%) versus the prior year and $12,125 versus the prior month.
For the 2023-02-01 period, Mount Pleasant had 76 MLS listings, a difference of -3 listings (-4%) versus the prior month and 13 listings (21%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Mount Pleasant (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,763 sqft |
| 2018-02-01 | 0 days | 1,769 sqft |
| 2018-03-01 | 0 days | 1,774 sqft |
| 2018-04-01 | 0 days | 1,850 sqft |
| 2018-05-01 | 0 days | 1,850 sqft |
| 2018-06-01 | 0 days | 1,794 sqft |
| 2018-07-01 | 0 days | 1,806 sqft |
| 2018-08-01 | 0 days | 1,818 sqft |
| 2018-09-01 | 0 days | 1,740 sqft |
| 2018-10-01 | 0 days | 1,773 sqft |
| 2018-11-01 | 0 days | 1,768 sqft |
| 2018-12-01 | 0 days | 1,738 sqft |
| 2019-01-01 | 0 days | 1,739 sqft |
| 2019-02-01 | 0 days | 1,703 sqft |
| 2019-03-01 | 0 days | 1,715 sqft |
| 2019-04-01 | 0 days | 1,751 sqft |
| 2019-05-01 | 0 days | 1,767 sqft |
| 2019-06-01 | 0 days | 1,728 sqft |
| 2019-07-01 | 0 days | 1,730 sqft |
| 2019-08-01 | 0 days | 1,750 sqft |
| 2019-09-01 | 0 days | 1,778 sqft |
| 2019-10-01 | 0 days | 1,797 sqft |
| 2019-11-01 | 0 days | 1,752 sqft |
| 2019-12-01 | 0 days | 1,800 sqft |
| 2020-01-01 | 0 days | 1,800 sqft |
| 2020-02-01 | 0 days | 1,810 sqft |
| 2020-03-01 | 0 days | 1,834 sqft |
| 2020-04-01 | 0 days | 1,805 sqft |
| 2020-05-01 | 0 days | 1,780 sqft |
| 2020-06-01 | 0 days | 1,900 sqft |
| 2020-07-01 | 0 days | 1,931 sqft |
| 2020-08-01 | 0 days | 1,912 sqft |
| 2020-09-01 | 0 days | 1,901 sqft |
| 2020-10-01 | 0 days | 1,940 sqft |
| 2020-11-01 | 0 days | 1,925 sqft |
| 2020-12-01 | 0 days | 1,868 sqft |
| 2021-01-01 | 0 days | 1,849 sqft |
| 2021-02-01 | 0 days | 1,858 sqft |
| 2021-03-01 | 0 days | 1,909 sqft |
| 2021-04-01 | 0 days | 2,156 sqft |
| 2021-05-01 | 0 days | 1,929 sqft |
| 2021-06-01 | 0 days | 1,757 sqft |
| 2021-07-01 | 0 days | 1,739 sqft |
| 2021-08-01 | 0 days | 1,697 sqft |
| 2021-09-01 | 0 days | 1,665 sqft |
| 2021-10-01 | 0 days | 1,600 sqft |
| 2021-11-01 | 0 days | 1,623 sqft |
| 2021-12-01 | 0 days | 1,634 sqft |
| 2022-01-01 | 0 days | 1,569 sqft |
| 2022-02-01 | 0 days | 1,585 sqft |
| 2022-03-01 | 0 days | 1,653 sqft |
| 2022-04-01 | 0 days | 1,580 sqft |
| 2022-05-01 | 0 days | 1,618 sqft |
| 2022-06-01 | 0 days | 1,664 sqft |
| 2022-07-01 | 0 days | 1,714 sqft |
| 2022-08-01 | 0 days | 1,814 sqft |
| 2022-09-01 | 0 days | 1,798 sqft |
| 2022-10-01 | 0 days | 1,728 sqft |
| 2022-11-01 | 0 days | 1,756 sqft |
| 2022-12-01 | 0 days | 1,718 sqft |
| 2023-01-01 | 0 days | 1,738 sqft |
| 2023-02-01 | 0 days | 1,744 sqft |
Mount Pleasant's median square footage for active listings during the 2023-02-01 period was 1,744 sqft. One year prior, the average listing was 1,585 sqft.