Niles USDA Loan Rates, Closing Costs & Stats
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 12 lenders originated 22 USDA loans during 2023. The total origination value was $3,900,000, with an average USDA loan value of $177,273.
Niles USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Niles
averaged
6.48%
for the week of 2024-12-13, compared to the national average (all USDA variants) of
6.303% for the same period.
Niles's average USDA mortgage closing costs are $5,299.
The average rate for the prior week (2024-12-06) was
6.72% and
one month ago for the week of 2024-11-08, the
average rate was 6.84%.
The average rate one year ago was 6.9%.
For refis of the same type during the week of 2024-12-13, the average rate
was 6.7%.
Niles 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 Niles level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| UNION HOME MORTGAGE CORP. | 9 | 7.08% | $7,397 |
| Flagstar Bank, FSB | 2 | 6.56% | $6,958 |
| Honor Credit Union | 2 | 7.00% | $4,270 |
| MORTGAGE 1 INCORPORATED | 1 | 5.13% | $12,260 |
| CARDINAL FINANCIAL | 1 | 6.75% | $5,011 |
| Neighborhood Loans, Inc. | 1 | 6.25% | $7,569 |
| OAK MORTGAGE, LLC | 1 | 7.13% | $7,207 |
| Paramount Residential Mortgage Group, Inc. | 1 | 7.00% | $6,077 |
| TOP FLITE FINANCIAL, INC. | 1 | 7.38% | $8,404 |
| MUTUAL OF OMAHA MORTGAGE, INC. | 1 | 6.63% | $8,542 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 6.63% | $6,377 |
| GVC MORTGAGE, INC. | 1 | 7.50% | $4,479 |
The top Niles USDA lender as defined by loan originations is UNION HOME MORTGAGE CORP., with
9 USDA loans originated. Their average total fees are
$7,397, which is $439
higher than the next largest lender,
Flagstar Bank, FSB.
The lowest fee Niles USDA lenders (with over 10 loans originated) are
.
The lowest rate Niles USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Niles (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 | $267,000 (-16.3%) | $466,576 (-11.3%) | 0.99 | 688 |
| 2018-02-01 | $289,511 (-10.9%) | $494,835 (-6.3%) | 1.05 | 643 |
| 2018-03-01 | $299,000 (-15.0%) | $502,497 (-7.6%) | 1.05 | 644 |
| 2018-04-01 | $324,450 (-7.0%) | $515,886 (-3.3%) | 1.10 | 693 |
| 2018-05-01 | $326,000 (-0.4%) | $514,292 (1.1%) | 1.09 | 776 |
| 2018-06-01 | $329,900 (5.3%) | $514,845 (6.6%) | 1.10 | 847 |
| 2018-07-01 | $324,000 (8.4%) | $499,901 (4.2%) | 1.08 | 925 |
| 2018-08-01 | $310,000 (7.3%) | $482,881 (0.8%) | 1.04 | 989 |
| 2018-09-01 | $299,900 (6.6%) | $502,463 (3.9%) | 1.01 | 992 |
| 2018-10-01 | $301,200 (6.6%) | $487,417 (0.5%) | 1.02 | 969 |
| 2018-11-01 | $298,450 (3.3%) | $479,032 (-2.0%) | 1.01 | 890 |
| 2018-12-01 | $299,000 (10.8%) | $477,520 (-0.6%) | 1.03 | 765 |
| 2019-01-01 | $298,350 (11.7%) | $468,938 (0.5%) | 1.03 | 645 |
| 2019-02-01 | $314,490 (8.6%) | $495,673 (0.2%) | 1.06 | 615 |
| 2019-03-01 | $332,929 (11.4%) | $513,891 (2.3%) | 1.09 | 645 |
| 2019-04-01 | $346,250 (6.7%) | $517,617 (0.3%) | 1.10 | 684 |
| 2019-05-01 | $347,175 (6.5%) | $520,388 (1.2%) | 1.09 | 739 |
| 2019-06-01 | $334,900 (1.5%) | $510,413 (-0.9%) | 1.05 | 829 |
| 2019-07-01 | $331,450 (2.3%) | $519,445 (3.9%) | 1.04 | 879 |
| 2019-08-01 | $327,109 (5.5%) | $508,328 (5.3%) | 1.04 | 896 |
| 2019-09-01 | $316,923 (5.7%) | $495,389 (-1.4%) | 1.01 | 912 |
| 2019-10-01 | $310,357 (3.0%) | $484,982 (-0.5%) | 1.00 | 916 |
| 2019-11-01 | $315,000 (5.6%) | $481,930 (0.6%) | 1.03 | 820 |
| 2019-12-01 | $299,900 (0.3%) | $453,263 (-5.1%) | 1.00 | 701 |
| 2020-01-01 | $294,925 (-1.2%) | $442,728 (-5.6%) | 0.99 | 614 |
| 2020-02-01 | $295,000 (-6.2%) | $446,369 (-10.0%) | 0.97 | 616 |
| 2020-03-01 | $327,000 (-1.8%) | $470,157 (-8.5%) | 1.03 | 603 |
| 2020-04-01 | $338,400 (-2.3%) | $510,745 (-1.3%) | 1.06 | 586 |
| 2020-05-01 | $339,000 (-2.4%) | $501,727 (-3.6%) | 1.03 | 639 |
| 2020-06-01 | $355,725 (6.2%) | $531,435 (4.1%) | 1.05 | 629 |
| 2020-07-01 | $356,850 (7.7%) | $529,699 (2.0%) | 1.03 | 593 |
| 2020-08-01 | $358,875 (9.7%) | $540,235 (6.3%) | 1.03 | 514 |
| 2020-09-01 | $342,725 (8.1%) | $538,044 (8.6%) | 0.98 | 468 |
| 2020-10-01 | $357,325 (15.1%) | $594,778 (22.6%) | 1.02 | 408 |
| 2020-11-01 | $349,950 (11.1%) | $616,599 (27.9%) | 1.02 | 377 |
| 2020-12-01 | $349,950 (16.7%) | $623,907 (37.7%) | 1.04 | 338 |
| 2021-01-01 | $341,950 (15.9%) | $646,698 (46.1%) | 1.02 | 280 |
| 2021-02-01 | $358,900 (21.7%) | $734,365 (64.5%) | 1.04 | 213 |
| 2021-03-01 | $351,225 (7.4%) | $792,731 (68.6%) | 1.00 | 217 |
| 2021-04-01 | $425,700 (25.8%) | $820,705 (60.7%) | 1.15 | 215 |
| 2021-05-01 | $406,950 (20.0%) | $772,468 (54.0%) | 1.08 | 234 |
| 2021-06-01 | $397,125 (11.6%) | $762,335 (43.5%) | 1.05 | 289 |
| 2021-07-01 | $350,000 (-1.9%) | $672,401 (26.9%) | 0.92 | 332 |
| 2021-08-01 | $348,500 (-2.9%) | $642,395 (18.9%) | 0.93 | 360 |
| 2021-09-01 | $340,875 (-0.5%) | $613,274 (14.0%) | 0.91 | 364 |
| 2021-10-01 | $332,450 (-7.0%) | $618,682 (4.0%) | 0.89 | 311 |
| 2021-11-01 | $339,900 (-2.9%) | $640,753 (3.9%) | 0.91 | 288 |
| 2021-12-01 | $338,900 (-3.2%) | $663,708 (6.4%) | 0.92 | 226 |
| 2022-01-01 | $322,400 (-5.7%) | $666,659 (3.1%) | 0.87 | 198 |
| 2022-02-01 | $348,725 (-2.8%) | $713,560 (-2.8%) | 0.91 | 188 |
| 2022-03-01 | $384,500 (9.5%) | $746,748 (-5.8%) | 0.96 | 184 |
| 2022-04-01 | $399,000 (-6.3%) | $772,145 (-5.9%) | 0.95 | 198 |
| 2022-05-01 | $419,975 (3.2%) | $775,776 (0.4%) | 0.96 | 242 |
| 2022-06-01 | $399,225 (0.5%) | $732,590 (-3.9%) | 0.89 | 302 |
| 2022-07-01 | $395,000 (12.9%) | $682,874 (1.6%) | 0.89 | 367 |
| 2022-08-01 | $374,975 (7.6%) | $668,499 (4.1%) | 0.87 | 393 |
| 2022-09-01 | $362,719 (6.4%) | $643,521 (4.9%) | 0.85 | 403 |
| 2022-10-01 | $380,000 (14.3%) | $675,027 (9.1%) | 0.89 | 401 |
| 2022-11-01 | $357,475 (5.2%) | $654,569 (2.2%) | 0.86 | 384 |
| 2022-12-01 | $339,977 (0.3%) | $648,901 (-2.2%) | 0.84 | 339 |
| 2023-01-01 | $315,000 (-2.3%) | $653,406 (-2.0%) | 0.78 | 293 |
| 2023-02-01 | $339,425 (-2.7%) | $648,371 (-9.1%) | 0.82 | 271 |
| 2023-03-01 | $345,688 (-10.1%) | $643,270 (-13.9%) | 0.82 | 270 |
| 2023-04-01 | $360,000 (-9.8%) | $679,138 (-12.1%) | 0.84 | 265 |
| 2023-05-01 | $418,500 (-0.4%) | $740,451 (-4.6%) | 0.95 | 263 |
| 2023-06-01 | $450,000 (12.7%) | $777,510 (6.1%) | 1.01 | 297 |
| 2023-07-01 | $400,000 (1.3%) | $721,960 (5.7%) | 0.91 | 327 |
| 2023-08-01 | $400,625 (6.8%) | $706,425 (5.7%) | 0.92 | 350 |
| 2023-09-01 | $364,950 (0.6%) | $645,192 (0.3%) | 0.85 | 361 |
| 2023-10-01 | $349,675 (-8.0%) | $623,444 (-7.6%) | 0.82 | 384 |
| 2023-11-01 | $346,175 (-3.2%) | $627,977 (-4.1%) | 0.82 | 363 |
| 2023-12-01 | $326,500 (-4.0%) | $571,339 (-12.0%) | 0.80 | 320 |
| 2024-01-01 | $308,675 (-2.0%) | $553,718 (-15.3%) | 0.75 | 288 |
| 2024-02-01 | $303,698 (-10.5%) | $601,543 (-7.2%) | 0.73 | 259 |
| 2024-03-01 | $325,000 (-6.0%) | $650,526 (1.1%) | 0.76 | 266 |
| 2024-04-01 | $343,750 (-4.5%) | $675,059 (-0.6%) | 0.80 | 288 |
| 2024-05-01 | $377,450 (-9.8%) | $723,444 (-2.3%) | 0.85 | 337 |
| 2024-06-01 | $399,000 (-11.3%) | $719,993 (-7.4%) | 0.90 | 389 |
| 2024-07-01 | $399,250 (-0.2%) | $690,376 (-4.4%) | 0.91 | 404 |
| 2024-08-01 | $379,000 (-5.4%) | $665,592 (-5.8%) | 0.88 | 457 |
| 2024-09-01 | $377,500 (3.4%) | $681,303 (5.6%) | 0.89 | 488 |
| 2024-10-01 | $396,500 (13.4%) | $698,383 (12.0%) | 0.93 | 492 |
| 2024-11-01 | $379,900 (9.7%) | $672,491 (7.1%) | 0.91 | 487 |
Niles's median listing price comes in at 91% of the national average.
Niles's average listing price for 2024-11-01 was $672,491, a difference of $44,514 (7.1%) versus the prior year and $-25,892 versus the prior month.
For the 2024-11-01 period, Niles had 487 MLS listings, a difference of -5 listings (-1%) versus the prior month and 124 listings (34%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Niles (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 105 days | 1,950 sqft |
| 2018-02-01 | 111 days | 1,947 sqft |
| 2018-03-01 | 93 days | 1,988 sqft |
| 2018-04-01 | 62 days | 2,037 sqft |
| 2018-05-01 | 53 days | 2,075 sqft |
| 2018-06-01 | 54 days | 2,100 sqft |
| 2018-07-01 | 64 days | 2,121 sqft |
| 2018-08-01 | 64 days | 2,077 sqft |
| 2018-09-01 | 68 days | 2,062 sqft |
| 2018-10-01 | 76 days | 2,092 sqft |
| 2018-11-01 | 85 days | 2,052 sqft |
| 2018-12-01 | 95 days | 2,040 sqft |
| 2019-01-01 | 108 days | 2,040 sqft |
| 2019-02-01 | 114 days | 2,063 sqft |
| 2019-03-01 | 90 days | 2,106 sqft |
| 2019-04-01 | 57 days | 2,153 sqft |
| 2019-05-01 | 55 days | 2,175 sqft |
| 2019-06-01 | 57 days | 2,193 sqft |
| 2019-07-01 | 59 days | 2,185 sqft |
| 2019-08-01 | 66 days | 2,131 sqft |
| 2019-09-01 | 69 days | 2,091 sqft |
| 2019-10-01 | 73 days | 2,067 sqft |
| 2019-11-01 | 89 days | 2,098 sqft |
| 2019-12-01 | 108 days | 2,032 sqft |
| 2020-01-01 | 115 days | 2,000 sqft |
| 2020-02-01 | 113 days | 1,932 sqft |
| 2020-03-01 | 72 days | 1,962 sqft |
| 2020-04-01 | 77 days | 1,999 sqft |
| 2020-05-01 | 84 days | 2,039 sqft |
| 2020-06-01 | 70 days | 2,178 sqft |
| 2020-07-01 | 53 days | 2,218 sqft |
| 2020-08-01 | 56 days | 2,236 sqft |
| 2020-09-01 | 57 days | 2,162 sqft |
| 2020-10-01 | 57 days | 2,184 sqft |
| 2020-11-01 | 62 days | 2,101 sqft |
| 2020-12-01 | 69 days | 2,056 sqft |
| 2021-01-01 | 81 days | 2,012 sqft |
| 2021-02-01 | 79 days | 2,058 sqft |
| 2021-03-01 | 54 days | 2,105 sqft |
| 2021-04-01 | 46 days | 2,258 sqft |
| 2021-05-01 | 45 days | 2,201 sqft |
| 2021-06-01 | 35 days | 2,141 sqft |
| 2021-07-01 | 42 days | 2,004 sqft |
| 2021-08-01 | 43 days | 1,943 sqft |
| 2021-09-01 | 46 days | 1,887 sqft |
| 2021-10-01 | 54 days | 1,883 sqft |
| 2021-11-01 | 57 days | 1,894 sqft |
| 2021-12-01 | 66 days | 1,823 sqft |
| 2022-01-01 | 72 days | 1,808 sqft |
| 2022-02-01 | 61 days | 1,807 sqft |
| 2022-03-01 | 47 days | 1,881 sqft |
| 2022-04-01 | 39 days | 1,917 sqft |
| 2022-05-01 | 34 days | 1,953 sqft |
| 2022-06-01 | 33 days | 1,918 sqft |
| 2022-07-01 | 42 days | 1,942 sqft |
| 2022-08-01 | 47 days | 1,959 sqft |
| 2022-09-01 | 45 days | 1,975 sqft |
| 2022-10-01 | 49 days | 1,935 sqft |
| 2022-11-01 | 60 days | 1,943 sqft |
| 2022-12-01 | 72 days | 1,908 sqft |
| 2023-01-01 | 83 days | 1,848 sqft |
| 2023-02-01 | 89 days | 1,833 sqft |
| 2023-03-01 | 74 days | 1,833 sqft |
| 2023-04-01 | 51 days | 1,846 sqft |
| 2023-05-01 | 38 days | 1,951 sqft |
| 2023-06-01 | 42 days | 2,080 sqft |
| 2023-07-01 | 44 days | 2,038 sqft |
| 2023-08-01 | 47 days | 2,028 sqft |
| 2023-09-01 | 48 days | 2,014 sqft |
| 2023-10-01 | 51 days | 1,919 sqft |
| 2023-11-01 | 53 days | 1,841 sqft |
| 2023-12-01 | 64 days | 1,800 sqft |
| 2024-01-01 | 77 days | 1,748 sqft |
| 2024-02-01 | 69 days | 1,745 sqft |
| 2024-03-01 | 50 days | 1,800 sqft |
| 2024-04-01 | 45 days | 1,841 sqft |
| 2024-05-01 | 38 days | 1,930 sqft |
| 2024-06-01 | 41 days | 2,000 sqft |
| 2024-07-01 | 51 days | 1,946 sqft |
| 2024-08-01 | 45 days | 1,920 sqft |
| 2024-09-01 | 48 days | 1,944 sqft |
| 2024-10-01 | 53 days | 1,989 sqft |
| 2024-11-01 | 61 days | 2,026 sqft |
Niles's median square footage for active listings during the 2024-11-01 period was 2,026 sqft. One year prior, the average listing was 1,841 sqft.