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 12 lenders originated 16 USDA loans during 2022. The total origination value was $2,350,000, with an average USDA loan value of $146,875.

Mount Pleasant USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Mount Pleasant averaged 6.62% for the week of 2024-03-01, compared to the national average (all USDA variants) of 6.729% for the same period.

Mount Pleasant's average USDA mortgage closing costs are $4,396.

The average rate for the prior week (2024-02-23) was 6.57% and one month ago for the week of 2024-01-26, the average rate was 6.33%.

The average rate one year ago was 6.59%.

For refis of the same type during the week of 2024-03-01, the average rate was 6.53%.

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

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
AMERIFIRST FINANCIAL CORPORATION 1 4.25% $4,592
BLG HOLDINGS, INC. 1 3.88% $3,891
CHURCHILL MORTGAGE CORPORATION 1 3.13% $5,297
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 4.49% $2,416
Fifth Third Bank 1 6.38% $6,141
MEMBERS FIRST Credit Union 1 3.38% $5,051
MICHIGAN MUTUAL, INC. 1 5.13% $9,366
PLAZA HOME MORTGAGE, INC. 1 3.25% $3,049
SUCCESS MORTGAGE PARTNERS, INC. 1 4.13% $6,190
TOP FLITE FINANCIAL, INC. 1 3.88% $11,058
TOWNE MORTGAGE COMPANY 1 5.75% $4,637
VAN DYK MORTGAGE CORPORATION 1 5.63% $5,440

The top Mount Pleasant USDA lender as defined by loan originations is AMERIFIRST FINANCIAL CORPORATION, with 1 USDA loans originated. Their average total fees are $4,592, which is $701 higher than the next largest lender, BLG HOLDINGS, 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 $145,000 (5.4%) $176,601 (7.4%) 0.00 271
2018-02-01 $144,950 (1.8%) $175,819 (5.6%) 0.00 263
2018-03-01 $149,000 (2.8%) $179,016 (7.0%) 0.00 271
2018-04-01 $149,900 (0.0%) $185,458 (7.2%) 0.00 283
2018-05-01 $152,450 (4.5%) $187,505 (8.2%) 0.00 291
2018-06-01 $149,900 (3.1%) $182,404 (4.5%) 0.00 323
2018-07-01 $150,000 (0.1%) $183,042 (4.6%) 0.00 339
2018-08-01 $149,950 (0.1%) $180,887 (1.9%) 0.00 335
2018-09-01 $149,900 (0.0%) $183,190 (3.9%) 0.00 341
2018-10-01 $150,000 (3.0%) $185,092 (5.8%) 0.00 325
2018-11-01 $150,000 (9.0%) $184,830 (6.7%) 0.00 319
2018-12-01 $150,000 (3.5%) $184,769 (5.2%) 0.00 302
2019-01-01 $154,900 (6.8%) $187,590 (6.2%) 0.00 262
2019-02-01 $149,950 (3.5%) $186,303 (6.0%) 0.00 259
2019-03-01 $152,086 (2.1%) $183,904 (2.7%) 0.00 270
2019-04-01 $157,450 (5.0%) $189,641 (2.3%) 0.00 275
2019-05-01 $162,450 (6.6%) $194,648 (3.8%) 0.00 277
2019-06-01 $159,000 (6.1%) $191,299 (4.9%) 0.00 300
2019-07-01 $158,200 (5.5%) $188,863 (3.2%) 0.00 322
2019-08-01 $161,363 (7.6%) $189,433 (4.7%) 0.00 305
2019-09-01 $163,409 (9.0%) $189,492 (3.4%) 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 (11.8%) 0.00 161
2020-04-01 $182,175 (15.7%) $213,434 (12.6%) 0.00 143
2020-05-01 $168,175 (3.5%) $203,225 (4.4%) 0.00 150
2020-06-01 $179,975 (13.2%) $211,813 (10.7%) 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 $207,250 (13.6%) $249,433 (15.3%) 0.00 127
2022-10-01 $188,450 (4.7%) $249,953 (18.4%) 0.00 121
2022-11-01 $197,250 (10.0%) $259,033 (19.3%) 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
2023-03-01 $226,975 (26.2%) $271,149 (19.1%) 0.00 66
2023-04-01 $231,350 (25.3%) $279,632 (18.6%) 0.00 74
2023-05-01 $227,489 (27.3%) $286,732 (27.3%) 0.00 71
2023-06-01 $249,450 (34.9%) $310,628 (32.7%) 0.00 75
2023-07-01 $250,000 (15.0%) $309,377 (27.5%) 0.00 75
2023-08-01 $254,500 (24.6%) $301,809 (20.7%) 0.00 79
2023-09-01 $249,000 (20.1%) $298,632 (19.7%) 0.00 80
2023-10-01 $228,475 (21.2%) $286,941 (14.8%) 0.00 89
2023-11-01 $223,450 (13.3%) $278,107 (7.4%) 0.00 90
2023-12-01 $217,450 (-3.3%) $280,089 (3.1%) 0.00 75
2024-01-01 $229,750 (2.3%) $294,625 (11.7%) 0.00 70
Mount Pleasant's median listing price for 2024-01-01 was $229,750, a difference of $5,050 (2.3%) versus the prior year and $12,300 versus the prior month.

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

Mount Pleasant's average listing price for 2024-01-01 was $294,625, a difference of $30,737 (11.7%) versus the prior year and $14,536 versus the prior month.

For the 2024-01-01 period, Mount Pleasant had 70 MLS listings, a difference of -5 listings (-7%) versus the prior month and -9 listings (-11%) 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 1,757 sqft
2018-02-01 0 days 1,764 sqft
2018-03-01 0 days 1,769 sqft
2018-04-01 0 days 1,850 sqft
2018-05-01 0 days 1,852 sqft
2018-06-01 0 days 1,795 sqft
2018-07-01 0 days 1,814 sqft
2018-08-01 0 days 1,821 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 1,700 sqft
2019-03-01 0 days 1,714 sqft
2019-04-01 0 days 1,753 sqft
2019-05-01 0 days 1,764 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 1,815 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 1,938 sqft
2020-11-01 0 days 1,909 sqft
2020-12-01 0 days 1,861 sqft
2021-01-01 0 days 1,848 sqft
2021-02-01 0 days 1,850 sqft
2021-03-01 0 days 1,901 sqft
2021-04-01 0 days 2,139 sqft
2021-05-01 0 days 1,915 sqft
2021-06-01 0 days 1,757 sqft
2021-07-01 0 days 1,739 sqft
2021-08-01 0 days 1,684 sqft
2021-09-01 0 days 1,660 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 1,800 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
2023-03-01 0 days 1,716 sqft
2023-04-01 0 days 1,729 sqft
2023-05-01 0 days 1,744 sqft
2023-06-01 0 days 1,832 sqft
2023-07-01 0 days 1,856 sqft
2023-08-01 0 days 1,750 sqft
2023-09-01 0 days 1,795 sqft
2023-10-01 0 days 1,757 sqft
2023-11-01 0 days 1,703 sqft
2023-12-01 0 days 1,706 sqft
2024-01-01 0 days 1,865 sqft
Mount Pleasant's median listing age (time on market) for 2024-01-01 was 0 days.

Mount Pleasant's median square footage for active listings during the 2024-01-01 period was 1,865 sqft. One year prior, the average listing was 1,738 sqft.