Mount Pleasant USDA Loan Rates, Closing Costs & Stats

Mount Pleasant, 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.

    Mount Pleasant's 9 lenders originated 10 USDA loans during 2023. The total origination value was $1,620,000, with an average USDA loan value of $162,000.

    Mount Pleasant USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Mount Pleasant 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.

    Mount Pleasant's average USDA mortgage closing costs are $4,497.

    The average rate for the prior week (2024-04-12) was 7.14% and one month ago for the week of 2024-03-15, the average rate was 6.92%.

    The average rate one year ago was 6.96%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Isabella Bank 2 7.38% $4,283
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $7,811
    BLG HOLDINGS, INC. 1 7.13% $8,718
    LAKE MICHIGAN CREDIT UNION 1 7.13% $6,603
    NEWREZ LLC 1 7.25% $5,398
    RUOFF MORTGAGE COMPANY, INC. 1 6.00% $1,111
    The Huntington National Bank 1 6.75% $4,666
    ACADEMY MORTGAGE CORPORATION 1 6.25% $9,281
    UNION HOME MORTGAGE CORP. 1 6.50% $8,126

    The top Mount Pleasant USDA lender as defined by loan originations is Isabella Bank, with 2 USDA loans originated. Their average total fees are $4,283, which is $3,528 lower than the next largest lender, AMERICAN FINANCIAL RESOURCES, 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
    2024-02-01 $249,000 (10.0%) $311,525 (12.9%) 0.00 57
    2024-03-01 $225,000 (-0.9%) $288,368 (6.4%) 0.00 72
    Mount Pleasant's median listing price for 2024-03-01 was $225,000, a difference of $-1,975 (-0.9%) versus the prior year and $-24,000 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 2024-03-01 was $288,368, a difference of $17,219 (6.4%) versus the prior year and $-23,157 versus the prior month.

    For the 2024-03-01 period, Mount Pleasant had 72 MLS listings, a difference of 15 listings (26%) versus the prior month and 6 listings (9%) 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
    2024-02-01 0 days 1,864 sqft
    2024-03-01 0 days 1,932 sqft
    Mount Pleasant's median listing age (time on market) for 2024-03-01 was 0 days.

    Mount Pleasant's median square footage for active listings during the 2024-03-01 period was 1,932 sqft. One year prior, the average listing was 1,716 sqft.