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
6.41%
for the week of 2024-11-08, compared to the national average (all USDA variants) of
6.477% for the same period.
Muskegon's average USDA mortgage closing costs are $4,575.
The average rate for the prior week (2024-11-01) was
6.78% and
one month ago for the week of 2024-10-04, the
average rate was 6.01%.
The average rate one year ago was 7.55%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.69%.
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 |
| 2024-10-01 | $276,750 (-1.1%) | $379,403 (2.4%) | 0.65 | 447 |
Muskegon's median listing price comes in at 65% of the national average.
Muskegon's average listing price for 2024-10-01 was $379,403, a difference of $8,998 (2.4%) versus the prior year and $-17,198 versus the prior month.
For the 2024-10-01 period, Muskegon had 447 MLS listings, a difference of 10 listings (2%) versus the prior month and 65 listings (17%) 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 |
| 2024-10-01 | 48 days | 1,484 sqft |
Muskegon's median square footage for active listings during the 2024-10-01 period was 1,484 sqft. One year prior, the average listing was 1,547 sqft.