Niles USDA Loans
NILES, 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.
Niles's 17 lenders originated 63 USDA loans during 2021. The total origination value was $9,095,000, with an average USDA loan value of $144,365.
Niles USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Niles
averaged
5.52%
for the week of 2022-05-13, compared to the national average (all USDA variants) of
5.294% for the same period.
The average rate for the prior week (2022-05-06) was
5.26% and
one month ago for the week of 2022-04-08, the
average rate was 5.02%.
The average rate one year ago was 3.43%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.09%.
Niles USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Niles level.
Name | # of Loans | 2021 Avg. 30yFix Rate | 2021 Avg. Total Fees |
---|---|---|---|
AMERIFIRST FINANCIAL CORPORATION | 33 | 3.52% | $6,662 |
RUOFF MORTGAGE COMPANY, INC. | 9 | 3.06% | $2,538 |
LOANDEPOT.COM, LLC | 3 | 3.08% | $7,482 |
Circle Federal Credit Union | 3 | 2.83% | $3,598 |
SOUTHWEST FUNDING, LP | 2 | 3.25% | $4,937 |
Flagstar Bank, FSB | 2 | 2.94% | $5,788 |
GUARANTEED RATE, INC. | 1 | 3.63% | $4,060 |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | 1 | 3.38% | $7,306 |
Neighborhood Loans, Inc. | 1 | 2.88% | $4,403 |
OAK MORTGAGE, LLC | 1 | 3.13% | $2,954 |
PLAZA HOME MORTGAGE, INC. | 1 | 2.88% | $5,586 |
CALIBER HOME LOANS, INC. | 1 | 3.25% | $8,442 |
TOWNE MORTGAGE COMPANY | 1 | 3.13% | $3,490 |
UNION HOME MORTGAGE CORP. | 1 | 2.25% | $4,143 |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 3.13% | $9,521 |
UNITED | 1 | 3.13% | $4,489 |
FINANCE OF AMERICA MORTGAGE LLC | 1 | 3.00% | $5,312 |
The top Niles USDA lender as defined by loan originations is AMERIFIRST FINANCIAL CORPORATION, with
33 USDA loans originated. Their average total fees are
$6,662, which is $4,123
higher than the next largest lender,
RUOFF MORTGAGE COMPANY, INC..
The lowest fee Niles USDA lenders (with over 10 loans originated) are
AMERIFIRST FINANCIAL CORPORATION ($6,662), .
The lowest rate Niles USDA lenders (with over 10 loans originated) are
AMERIFIRST FINANCIAL CORPORATION (3.52%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Niles (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $259,500 (-13.5%) | $465,117 (-10.4%) | 0.96 | 713 |
2018-02-01 | $284,900 (-11.0%) | $492,220 (-5.9%) | 1.03 | 658 |
2018-03-01 | $299,000 (-13.8%) | $504,552 (-6.0%) | 1.03 | 656 |
2018-04-01 | $321,000 (-7.0%) | $523,317 (0.2%) | 1.08 | 704 |
2018-05-01 | $325,000 (1.3%) | $523,593 (5.3%) | 1.08 | 791 |
2018-06-01 | $335,000 (6.9%) | $528,677 (12.1%) | 1.12 | 872 |
2018-07-01 | $324,950 (8.7%) | $502,884 (7.1%) | 1.08 | 944 |
2018-08-01 | $310,000 (7.3%) | $482,970 (2.6%) | 1.04 | 1,017 |
2018-09-01 | $300,000 (7.5%) | $500,595 (6.0%) | 1.00 | 1,017 |
2018-10-01 | $308,000 (10.2%) | $489,339 (3.0%) | 1.03 | 996 |
2018-11-01 | $298,950 (4.9%) | $483,639 (0.5%) | 1.00 | 918 |
2018-12-01 | $298,500 (12.7%) | $475,851 (1.5%) | 1.02 | 785 |
2019-01-01 | $299,000 (15.2%) | $481,845 (3.6%) | 1.03 | 658 |
2019-02-01 | $315,400 (10.7%) | $509,464 (3.5%) | 1.06 | 624 |
2019-03-01 | $332,229 (11.1%) | $521,426 (3.3%) | 1.08 | 656 |
2019-04-01 | $343,500 (7.0%) | $519,811 (-0.7%) | 1.08 | 704 |
2019-05-01 | $347,450 (6.9%) | $520,064 (-0.7%) | 1.07 | 757 |
2019-06-01 | $335,000 (0.0%) | $502,173 (-5.0%) | 1.03 | 844 |
2019-07-01 | $332,000 (2.2%) | $513,851 (2.2%) | 1.03 | 889 |
2019-08-01 | $328,529 (6.0%) | $506,522 (4.9%) | 1.03 | 919 |
2019-09-01 | $317,900 (6.0%) | $490,486 (-2.0%) | 1.01 | 949 |
2019-10-01 | $315,000 (2.3%) | $480,167 (-1.9%) | 1.00 | 929 |
2019-11-01 | $319,000 (6.7%) | $478,541 (-1.1%) | 1.03 | 825 |
2019-12-01 | $299,900 (0.5%) | $452,377 (-4.9%) | 1.00 | 718 |
2020-01-01 | $295,950 (-1.0%) | $445,945 (-7.5%) | 0.99 | 630 |
2020-02-01 | $294,000 (-6.8%) | $441,721 (-13.3%) | 0.95 | 634 |
2020-03-01 | $322,450 (-2.9%) | $465,306 (-10.8%) | 1.01 | 608 |
2020-04-01 | $334,900 (-2.5%) | $497,102 (-4.4%) | 1.04 | 590 |
2020-05-01 | $339,000 (-2.4%) | $488,809 (-6.0%) | 1.03 | 633 |
2020-06-01 | $359,000 (7.2%) | $522,437 (4.0%) | 1.05 | 629 |
2020-07-01 | $358,900 (8.1%) | $522,015 (1.6%) | 1.03 | 594 |
2020-08-01 | $355,900 (8.3%) | $536,364 (5.9%) | 1.02 | 512 |
2020-09-01 | $339,450 (6.8%) | $532,787 (8.6%) | 0.97 | 466 |
2020-10-01 | $359,000 (14.0%) | $584,631 (21.8%) | 1.03 | 412 |
2020-11-01 | $349,450 (9.6%) | $599,913 (25.4%) | 1.00 | 380 |
2020-12-01 | $342,400 (14.2%) | $598,594 (32.3%) | 1.00 | 343 |
2021-01-01 | $329,000 (11.2%) | $619,911 (39.0%) | 0.97 | 281 |
2021-02-01 | $349,900 (19.0%) | $696,681 (57.7%) | 1.01 | 213 |
2021-03-01 | $349,900 (8.5%) | $753,555 (62.0%) | 0.98 | 216 |
2021-04-01 | $403,450 (20.5%) | $774,166 (55.7%) | 1.08 | 215 |
2021-05-01 | $395,000 (16.5%) | $737,557 (50.9%) | 1.04 | 228 |
2021-06-01 | $389,950 (8.6%) | $740,071 (41.7%) | 1.01 | 288 |
2021-07-01 | $349,950 (-2.5%) | $654,088 (25.3%) | 0.91 | 329 |
2021-08-01 | $347,450 (-2.4%) | $632,181 (17.9%) | 0.91 | 367 |
2021-09-01 | $341,000 (0.5%) | $607,302 (14.0%) | 0.90 | 365 |
2021-10-01 | $339,900 (-5.3%) | $607,868 (4.0%) | 0.89 | 313 |
2021-11-01 | $345,000 (-1.3%) | $630,662 (5.1%) | 0.91 | 292 |
2021-12-01 | $337,400 (-1.5%) | $642,680 (7.4%) | 0.90 | 227 |
2022-01-01 | $299,900 (-8.8%) | $653,242 (5.4%) | 0.80 | 196 |
2022-02-01 | $352,000 (0.6%) | $722,994 (3.8%) | 0.90 | 188 |
2022-03-01 | $389,000 (11.2%) | $738,985 (-1.9%) | 0.96 | 184 |
2022-04-01 | $395,000 (-2.1%) | $772,695 (-0.2%) | 0.93 | 202 |
Niles's median listing price comes in at 93% of the national average.
Niles's average listing price for 2022-04-01 was $772,695, a difference of $-1,471 (-0.2%) versus the prior year and $33,710 versus the prior month.
For the 2022-04-01 period, Niles had 202 MLS listings, a difference of 18 listings (10%) versus the prior month and -13 listings (-6%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Niles (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 115 days | 1,955 sqft |
2018-02-01 | 124 days | 1,951 sqft |
2018-03-01 | 115 days | 2,000 sqft |
2018-04-01 | 75 days | 2,053 sqft |
2018-05-01 | 64 days | 2,101 sqft |
2018-06-01 | 63 days | 2,128 sqft |
2018-07-01 | 71 days | 2,145 sqft |
2018-08-01 | 73 days | 2,127 sqft |
2018-09-01 | 78 days | 2,102 sqft |
2018-10-01 | 83 days | 2,118 sqft |
2018-11-01 | 92 days | 2,078 sqft |
2018-12-01 | 105 days | 2,044 sqft |
2019-01-01 | 113 days | 2,050 sqft |
2019-02-01 | 122 days | 2,092 sqft |
2019-03-01 | 101 days | 2,123 sqft |
2019-04-01 | 63 days | 2,173 sqft |
2019-05-01 | 63 days | 2,193 sqft |
2019-06-01 | 64 days | 2,203 sqft |
2019-07-01 | 66 days | 2,202 sqft |
2019-08-01 | 69 days | 2,140 sqft |
2019-09-01 | 74 days | 2,088 sqft |
2019-10-01 | 79 days | 2,077 sqft |
2019-11-01 | 95 days | 2,100 sqft |
2019-12-01 | 113 days | 2,029 sqft |
2020-01-01 | 123 days | 1,996 sqft |
2020-02-01 | 120 days | 1,936 sqft |
2020-03-01 | 94 days | 1,987 sqft |
2020-04-01 | 87 days | 1,995 sqft |
2020-05-01 | 91 days | 2,039 sqft |
2020-06-01 | 87 days | 2,171 sqft |
2020-07-01 | 62 days | 2,238 sqft |
2020-08-01 | 63 days | 2,245 sqft |
2020-09-01 | 64 days | 2,168 sqft |
2020-10-01 | 63 days | 2,253 sqft |
2020-11-01 | 68 days | 2,119 sqft |
2020-12-01 | 75 days | 2,064 sqft |
2021-01-01 | 90 days | 2,028 sqft |
2021-02-01 | 87 days | 2,018 sqft |
2021-03-01 | 72 days | 2,062 sqft |
2021-04-01 | 54 days | 2,180 sqft |
2021-05-01 | 50 days | 2,120 sqft |
2021-06-01 | 39 days | 2,107 sqft |
2021-07-01 | 41 days | 2,000 sqft |
2021-08-01 | 45 days | 1,940 sqft |
2021-09-01 | 50 days | 1,908 sqft |
2021-10-01 | 58 days | 1,914 sqft |
2021-11-01 | 61 days | 1,913 sqft |
2021-12-01 | 71 days | 1,826 sqft |
2022-01-01 | 74 days | 1,788 sqft |
2022-02-01 | 67 days | 1,810 sqft |
2022-03-01 | 52 days | 1,870 sqft |
2022-04-01 | 43 days | 1,930 sqft |
Niles's median square footage for active listings during the 2022-04-01 period was 1,930 sqft. One year prior, the average listing was 2,180 sqft.