Muskegon USDA Loan Rates, Closing Costs & Stats

MUSKEGON, 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.

Muskegon's 5 lenders originated 6 USDA loans during 2023. The total origination value was $1,340,000, with an average USDA loan value of $223,333.

Muskegon USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Muskegon averaged 6.02% for the week of 2024-10-11, compared to the national average (all USDA variants) of 6.08% for the same period.

Muskegon's average USDA mortgage closing costs are $4,575.

The average rate for the prior week (2024-10-04) was 6.11% and one month ago for the week of 2024-09-06, the average rate was 6.3%.

The average rate one year ago was 7.29%.

For refis of the same type during the week of 2024-10-11, the average rate was 6.7%.

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

Muskegon 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 Muskegon level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 2 6.47% $7,054
LAKE MICHIGAN CREDIT UNION 1 6.00% $5,697
LEADERONE FINANCIAL CORPORATION 1 6.49% $5,366
MORTGAGE 1 INCORPORATED 1 7.63% $7,682
UNION HOME MORTGAGE CORP. 1 6.88% $11,293

The top Muskegon USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 2 USDA loans originated. Their average total fees are $7,054, which is $1,358 higher than the next largest lender, LAKE MICHIGAN CREDIT UNION.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Muskegon (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 $149,900 (11.1%) $240,646 (-2.8%) 0.56 439
2018-02-01 $164,900 (22.2%) $256,099 (1.5%) 0.60 395
2018-03-01 $179,900 (21.0%) $272,687 (4.6%) 0.63 360
2018-04-01 $172,175 (14.9%) $271,315 (7.1%) 0.58 374
2018-05-01 $183,675 (18.2%) $270,623 (11.9%) 0.61 395
2018-06-01 $179,900 (14.6%) $267,568 (12.3%) 0.60 438
2018-07-01 $164,900 (6.5%) $251,741 (5.1%) 0.55 494
2018-08-01 $161,900 (5.0%) $246,666 (5.0%) 0.54 531
2018-09-01 $154,900 (3.3%) $241,272 (3.8%) 0.52 556
2018-10-01 $162,600 (8.5%) $239,960 (-0.3%) 0.55 573
2018-11-01 $157,700 (5.2%) $233,546 (-5.5%) 0.53 533
2018-12-01 $160,000 (6.7%) $233,817 (-2.7%) 0.55 489
2019-01-01 $161,950 (8.0%) $229,913 (-4.5%) 0.56 452
2019-02-01 $172,200 (4.4%) $242,884 (-5.2%) 0.58 412
2019-03-01 $183,121 (1.8%) $248,999 (-8.7%) 0.60 387
2019-04-01 $191,975 (11.5%) $251,005 (-7.5%) 0.61 366
2019-05-01 $209,925 (14.3%) $259,867 (-4.0%) 0.66 350
2019-06-01 $219,900 (22.2%) $317,974 (18.8%) 0.69 369
2019-07-01 $211,425 (28.2%) $302,124 (20.0%) 0.66 410
2019-08-01 $194,445 (20.1%) $278,339 (12.8%) 0.62 466
2019-09-01 $186,264 (20.3%) $262,067 (8.6%) 0.60 513
2019-10-01 $179,900 (10.6%) $250,534 (4.4%) 0.58 545
2019-11-01 $174,900 (10.9%) $250,063 (7.1%) 0.57 519
2019-12-01 $163,675 (2.3%) $251,438 (7.5%) 0.55 477
2020-01-01 $169,675 (4.8%) $261,550 (13.8%) 0.57 413
2020-02-01 $174,900 (1.6%) $266,556 (9.8%) 0.57 412
2020-03-01 $186,400 (1.8%) $279,193 (12.1%) 0.58 406
2020-04-01 $207,400 (8.0%) $287,990 (14.7%) 0.65 360
2020-05-01 $215,000 (2.4%) $305,819 (17.7%) 0.65 358
2020-06-01 $243,900 (10.9%) $338,076 (6.3%) 0.72 307
2020-07-01 $244,500 (15.6%) $344,794 (14.1%) 0.71 307
2020-08-01 $239,900 (23.4%) $362,562 (30.3%) 0.69 298
2020-09-01 $234,900 (26.1%) $337,954 (29.0%) 0.67 281
2020-10-01 $209,950 (16.7%) $306,432 (22.3%) 0.60 302
2020-11-01 $192,450 (10.0%) $290,705 (16.3%) 0.56 275
2020-12-01 $188,650 (15.3%) $261,977 (4.2%) 0.56 218
2021-01-01 $184,900 (9.0%) $267,870 (2.4%) 0.55 178
2021-02-01 $200,000 (14.4%) $278,278 (4.4%) 0.58 130
2021-03-01 $193,650 (3.9%) $279,046 (-0.1%) 0.55 140
2021-04-01 $196,900 (-5.1%) $300,294 (4.3%) 0.53 131
2021-05-01 $200,000 (-7.0%) $285,791 (-6.6%) 0.53 152
2021-06-01 $211,175 (-13.4%) $285,301 (-15.6%) 0.56 183
2021-07-01 $210,000 (-14.1%) $273,145 (-20.8%) 0.55 220
2021-08-01 $199,900 (-16.7%) $282,396 (-22.1%) 0.53 234
2021-09-01 $194,950 (-17.0%) $289,945 (-14.2%) 0.52 247
2021-10-01 $204,950 (-2.4%) $294,946 (-3.8%) 0.55 232
2021-11-01 $189,675 (-1.4%) $283,227 (-2.6%) 0.51 212
2021-12-01 $191,825 (1.7%) $285,431 (9.0%) 0.52 177
2022-01-01 $199,450 (7.9%) $319,953 (19.4%) 0.54 122
2022-02-01 $219,400 (9.7%) $324,331 (16.6%) 0.57 119
2022-03-01 $201,200 (3.9%) $321,952 (15.4%) 0.50 141
2022-04-01 $204,900 (4.1%) $310,214 (3.3%) 0.49 137
2022-05-01 $214,900 (7.5%) $311,658 (9.1%) 0.49 192
2022-06-01 $233,850 (10.7%) $308,988 (8.3%) 0.52 219
2022-07-01 $239,900 (14.2%) $304,472 (11.5%) 0.54 269
2022-08-01 $247,450 (23.8%) $311,849 (10.4%) 0.57 301
2022-09-01 $238,900 (22.5%) $305,692 (5.4%) 0.56 275
2022-10-01 $229,700 (12.1%) $300,907 (2.0%) 0.54 305
2022-11-01 $219,950 (16.0%) $297,048 (4.9%) 0.53 299
2022-12-01 $199,900 (4.2%) $264,299 (-7.4%) 0.49 279
2023-01-01 $192,450 (-3.5%) $262,692 (-17.9%) 0.48 237
2023-02-01 $196,000 (-10.7%) $266,914 (-17.7%) 0.47 201
2023-03-01 $218,675 (8.7%) $277,251 (-13.9%) 0.52 166
2023-04-01 $220,000 (7.4%) $298,155 (-3.9%) 0.51 161
2023-05-01 $235,475 (9.6%) $311,686 (0.0%) 0.53 167
2023-06-01 $277,400 (18.6%) $333,474 (7.9%) 0.62 213
2023-07-01 $309,995 (29.2%) $375,052 (23.2%) 0.70 263
2023-08-01 $287,400 (16.1%) $365,056 (17.1%) 0.66 304
2023-09-01 $299,900 (25.5%) $381,193 (24.7%) 0.70 345
2023-10-01 $279,950 (21.9%) $370,405 (23.1%) 0.66 382
2023-11-01 $269,925 (22.7%) $345,262 (16.2%) 0.64 378
2023-12-01 $259,900 (30.0%) $342,422 (29.6%) 0.63 355
2024-01-01 $254,900 (32.5%) $346,292 (31.8%) 0.62 344
2024-02-01 $249,900 (27.5%) $337,228 (26.3%) 0.60 328
2024-03-01 $301,500 (37.9%) $380,623 (37.3%) 0.71 281
2024-04-01 $303,950 (38.2%) $407,201 (36.6%) 0.71 271
2024-05-01 $341,450 (45.0%) $452,429 (45.2%) 0.77 299
2024-06-01 $339,900 (22.5%) $448,179 (34.4%) 0.76 319
2024-07-01 $311,425 (0.5%) $407,871 (8.8%) 0.71 381
2024-08-01 $300,000 (4.4%) $396,859 (8.7%) 0.70 427
2024-09-01 $299,900 (0.0%) $396,601 (4.0%) 0.71 437
Muskegon's median listing price for 2024-09-01 was $299,900, a difference of $0 (0.0%) versus the prior year and $-100 versus the prior month.

Muskegon's median listing price comes in at 71% of the national average.

Muskegon's average listing price for 2024-09-01 was $396,601, a difference of $15,408 (4.0%) versus the prior year and $-258 versus the prior month.

For the 2024-09-01 period, Muskegon had 437 MLS listings, a difference of 10 listings (2%) versus the prior month and 92 listings (27%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Muskegon (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 75 days 1,613 sqft
2018-02-01 67 days 1,639 sqft
2018-03-01 54 days 1,698 sqft
2018-04-01 45 days 1,660 sqft
2018-05-01 45 days 1,680 sqft
2018-06-01 36 days 1,710 sqft
2018-07-01 41 days 1,652 sqft
2018-08-01 39 days 1,648 sqft
2018-09-01 47 days 1,641 sqft
2018-10-01 50 days 1,647 sqft
2018-11-01 49 days 1,612 sqft
2018-12-01 60 days 1,574 sqft
2019-01-01 69 days 1,565 sqft
2019-02-01 70 days 1,607 sqft
2019-03-01 63 days 1,649 sqft
2019-04-01 52 days 1,677 sqft
2019-05-01 46 days 1,800 sqft
2019-06-01 32 days 1,830 sqft
2019-07-01 36 days 1,820 sqft
2019-08-01 36 days 1,774 sqft
2019-09-01 38 days 1,736 sqft
2019-10-01 41 days 1,720 sqft
2019-11-01 54 days 1,661 sqft
2019-12-01 66 days 1,593 sqft
2020-01-01 71 days 1,607 sqft
2020-02-01 65 days 1,539 sqft
2020-03-01 48 days 1,550 sqft
2020-04-01 61 days 1,566 sqft
2020-05-01 71 days 1,652 sqft
2020-06-01 58 days 1,652 sqft
2020-07-01 44 days 1,663 sqft
2020-08-01 44 days 1,621 sqft
2020-09-01 48 days 1,557 sqft
2020-10-01 46 days 1,521 sqft
2020-11-01 45 days 1,511 sqft
2020-12-01 57 days 1,456 sqft
2021-01-01 52 days 1,434 sqft
2021-02-01 38 days 1,379 sqft
2021-03-01 34 days 1,396 sqft
2021-04-01 34 days 1,423 sqft
2021-05-01 31 days 1,480 sqft
2021-06-01 28 days 1,510 sqft
2021-07-01 29 days 1,510 sqft
2021-08-01 29 days 1,535 sqft
2021-09-01 35 days 1,521 sqft
2021-10-01 38 days 1,522 sqft
2021-11-01 46 days 1,449 sqft
2021-12-01 50 days 1,426 sqft
2022-01-01 53 days 1,421 sqft
2022-02-01 44 days 1,448 sqft
2022-03-01 30 days 1,454 sqft
2022-04-01 29 days 1,476 sqft
2022-05-01 26 days 1,462 sqft
2022-06-01 30 days 1,562 sqft
2022-07-01 32 days 1,560 sqft
2022-08-01 36 days 1,565 sqft
2022-09-01 42 days 1,565 sqft
2022-10-01 39 days 1,565 sqft
2022-11-01 44 days 1,533 sqft
2022-12-01 45 days 1,502 sqft
2023-01-01 57 days 1,430 sqft
2023-02-01 55 days 1,429 sqft
2023-03-01 39 days 1,479 sqft
2023-04-01 36 days 1,563 sqft
2023-05-01 32 days 1,496 sqft
2023-06-01 29 days 1,521 sqft
2023-07-01 31 days 1,525 sqft
2023-08-01 38 days 1,534 sqft
2023-09-01 44 days 1,560 sqft
2023-10-01 43 days 1,547 sqft
2023-11-01 53 days 1,499 sqft
2023-12-01 58 days 1,484 sqft
2024-01-01 67 days 1,484 sqft
2024-02-01 70 days 1,484 sqft
2024-03-01 59 days 1,484 sqft
2024-04-01 59 days 1,484 sqft
2024-05-01 45 days 1,506 sqft
2024-06-01 37 days 1,484 sqft
2024-07-01 37 days 1,484 sqft
2024-08-01 37 days 1,512 sqft
2024-09-01 43 days 1,532 sqft
Muskegon's median listing age (time on market) for 2024-09-01 was 43 days. This is -3% shorter than the same period one year ago.

Muskegon's median square footage for active listings during the 2024-09-01 period was 1,532 sqft. One year prior, the average listing was 1,560 sqft.