Saginaw USDA Loan Rates, Closing Costs & Stats

SAGINAW, 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.

    Saginaw's 16 lenders originated 25 USDA loans during 2023. The total origination value was $3,225,000, with an average USDA loan value of $129,000.

    Saginaw USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Saginaw averaged 6.89% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Saginaw's average USDA mortgage closing costs are $4,326.

    The average rate for the prior week (2024-04-12) was 6.94% and one month ago for the week of 2024-03-15, the average rate was 6.73%.

    The average rate one year ago was 6.46%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.46%.

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

    Saginaw 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 Saginaw level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Frankenmuth Credit Union 4 6.47% $3,941
    MID AMERICA MORTGAGE, INC. 3 6.67% $4,060
    DAS Acquisition Company, LLC 2 6.50% $5,930
    BLG HOLDINGS, INC. 2 7.88% $5,944
    Independent Bank 2 6.88% $5,727
    LEGEND LENDING CORPORATION 2 6.94% $8,242
    PLAZA HOME MORTGAGE, INC. 1 6.75% $7,845
    Preston Home Loans Inc 1 6.75% $5,036
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.13% $6,835
    AMERICAN FINANCIAL NETWORK, INC. 1 7.75% $5,945
    Victorian Finance, LLC 1 5.75% $4,064
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.75% $6,119
    GENEVA FINANCIAL, LLC 1 7.25% $8,553
    Horizon Bank 1 6.00% $6,535
    J. VIRGIL, INC. 1 7.50% $5,969
    Platinum Home Mortgage Corporation 1 6.49% $7,433

    The top Saginaw USDA lender as defined by loan originations is Frankenmuth Credit Union, with 4 USDA loans originated. Their average total fees are $3,941, which is $119 lower than the next largest lender, MID AMERICA MORTGAGE, INC..

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Saginaw (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 $89,450 (-6.4%) $128,689 (-0.3%) 0.33 562
    2018-02-01 $86,481 (-10.3%) $129,229 (0.8%) 0.31 542
    2018-03-01 $87,125 (-3.2%) $131,117 (1.6%) 0.31 516
    2018-04-01 $98,900 (8.4%) $136,482 (3.8%) 0.34 491
    2018-05-01 $107,425 (4.9%) $148,642 (7.4%) 0.36 477
    2018-06-01 $112,450 (6.4%) $153,196 (10.0%) 0.38 514
    2018-07-01 $117,075 (6.5%) $154,973 (12.5%) 0.39 539
    2018-08-01 $114,900 (4.5%) $150,892 (8.8%) 0.38 570
    2018-09-01 $119,900 (9.1%) $156,322 (10.5%) 0.40 601
    2018-10-01 $123,125 (21.9%) $156,617 (13.8%) 0.42 590
    2018-11-01 $122,250 (23.2%) $153,680 (13.6%) 0.41 567
    2018-12-01 $119,900 (27.2%) $151,128 (14.8%) 0.41 540
    2019-01-01 $116,125 (29.8%) $147,294 (14.5%) 0.40 480
    2019-02-01 $119,900 (38.6%) $149,555 (15.7%) 0.41 425
    2019-03-01 $122,900 (41.1%) $157,765 (20.3%) 0.40 382
    2019-04-01 $128,400 (29.8%) $164,605 (20.6%) 0.41 358
    2019-05-01 $132,113 (23.0%) $173,453 (16.7%) 0.41 394
    2019-06-01 $129,900 (15.5%) $165,738 (8.2%) 0.41 460
    2019-07-01 $129,250 (10.4%) $172,181 (11.1%) 0.40 477
    2019-08-01 $127,882 (11.3%) $170,431 (13.0%) 0.41 511
    2019-09-01 $126,205 (5.3%) $165,642 (6.0%) 0.40 526
    2019-10-01 $125,086 (1.6%) $162,502 (3.8%) 0.40 535
    2019-11-01 $119,950 (-1.9%) $156,573 (1.9%) 0.39 522
    2019-12-01 $119,900 (0.0%) $154,498 (2.2%) 0.40 459
    2020-01-01 $116,749 (0.5%) $150,676 (2.3%) 0.39 403
    2020-02-01 $107,700 (-10.2%) $145,034 (-3.0%) 0.35 368
    2020-03-01 $109,400 (-11.0%) $152,429 (-3.4%) 0.34 306
    2020-04-01 $119,900 (-6.6%) $156,642 (-4.8%) 0.38 290
    2020-05-01 $124,900 (-5.5%) $166,473 (-4.0%) 0.38 262
    2020-06-01 $130,425 (0.4%) $182,082 (9.9%) 0.38 212
    2020-07-01 $129,650 (0.3%) $184,224 (7.0%) 0.38 204
    2020-08-01 $139,900 (9.4%) $195,366 (14.6%) 0.40 215
    2020-09-01 $131,650 (4.3%) $196,092 (18.4%) 0.38 249
    2020-10-01 $130,900 (4.7%) $205,458 (26.4%) 0.38 262
    2020-11-01 $132,400 (10.4%) $187,504 (19.8%) 0.39 240
    2020-12-01 $124,400 (3.8%) $178,749 (15.7%) 0.37 211
    2021-01-01 $102,400 (-12.3%) $171,314 (13.7%) 0.31 162
    2021-02-01 $113,600 (5.5%) $188,343 (29.9%) 0.33 140
    2021-03-01 $105,250 (-3.8%) $173,697 (14.0%) 0.30 125
    2021-04-01 $112,300 (-6.3%) $187,637 (19.8%) 0.30 114
    2021-05-01 $137,450 (10.1%) $214,484 (28.8%) 0.37 135
    2021-06-01 $137,150 (5.2%) $202,650 (11.3%) 0.36 191
    2021-07-01 $139,900 (7.9%) $196,172 (6.5%) 0.37 231
    2021-08-01 $141,900 (1.4%) $193,145 (-1.1%) 0.38 282
    2021-09-01 $117,500 (-10.8%) $174,610 (-11.0%) 0.31 298
    2021-10-01 $119,900 (-8.4%) $181,138 (-11.8%) 0.32 303
    2021-11-01 $122,400 (-7.6%) $179,884 (-4.1%) 0.33 312
    2021-12-01 $114,800 (-7.7%) $177,845 (-0.5%) 0.31 281
    2022-01-01 $99,900 (-2.4%) $170,594 (-0.4%) 0.27 220
    2022-02-01 $105,325 (-7.3%) $181,830 (-3.5%) 0.27 194
    2022-03-01 $116,200 (10.4%) $187,473 (7.9%) 0.29 182
    2022-04-01 $146,400 (30.4%) $210,864 (12.4%) 0.35 166
    2022-05-01 $145,925 (6.2%) $198,236 (-7.6%) 0.33 178
    2022-06-01 $148,650 (8.4%) $207,046 (2.2%) 0.33 216
    2022-07-01 $166,500 (19.0%) $227,832 (16.1%) 0.38 256
    2022-08-01 $159,675 (12.5%) $216,297 (12.0%) 0.37 321
    2022-09-01 $155,000 (31.9%) $206,203 (18.1%) 0.36 318
    2022-10-01 $159,900 (33.4%) $207,741 (14.7%) 0.38 309
    2022-11-01 $139,900 (14.3%) $198,285 (10.2%) 0.34 313
    2022-12-01 $149,900 (30.6%) $202,487 (13.9%) 0.37 266
    2023-01-01 $147,400 (47.6%) $201,289 (18.0%) 0.37 235
    2023-02-01 $131,225 (24.6%) $202,041 (11.1%) 0.32 209
    2023-03-01 $127,400 (9.6%) $207,008 (10.4%) 0.30 190
    2023-04-01 $149,000 (1.8%) $219,364 (4.0%) 0.35 185
    2023-05-01 $143,250 (-1.8%) $214,033 (8.0%) 0.32 197
    2023-06-01 $139,900 (-5.9%) $219,719 (6.1%) 0.31 211
    2023-07-01 $129,900 (-22.0%) $226,310 (-0.7%) 0.30 267
    2023-08-01 $147,000 (-7.9%) $216,738 (0.2%) 0.34 316
    2023-09-01 $149,900 (-3.3%) $214,330 (3.9%) 0.35 340
    2023-10-01 $149,900 (-6.3%) $218,701 (5.3%) 0.35 334
    2023-11-01 $152,450 (9.0%) $213,994 (7.9%) 0.36 375
    2023-12-01 $159,900 (6.7%) $211,058 (4.2%) 0.39 347
    2024-01-01 $159,900 (8.5%) $205,227 (2.0%) 0.39 311
    2024-02-01 $154,950 (18.1%) $202,724 (0.3%) 0.37 286
    2024-03-01 $159,950 (25.6%) $214,235 (3.5%) 0.38 253
    Saginaw's median listing price for 2024-03-01 was $159,950, a difference of $32,550 (25.6%) versus the prior year and $5,000 versus the prior month.

    Saginaw's median listing price comes in at 38% of the national average.

    Saginaw's average listing price for 2024-03-01 was $214,235, a difference of $7,227 (3.5%) versus the prior year and $11,511 versus the prior month.

    For the 2024-03-01 period, Saginaw had 253 MLS listings, a difference of -33 listings (-12%) versus the prior month and 63 listings (33%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Saginaw (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 81 days 1,453 sqft
    2018-02-01 81 days 1,433 sqft
    2018-03-01 68 days 1,449 sqft
    2018-04-01 64 days 1,460 sqft
    2018-05-01 49 days 1,482 sqft
    2018-06-01 45 days 1,512 sqft
    2018-07-01 48 days 1,539 sqft
    2018-08-01 45 days 1,508 sqft
    2018-09-01 51 days 1,466 sqft
    2018-10-01 51 days 1,536 sqft
    2018-11-01 59 days 1,532 sqft
    2018-12-01 73 days 1,520 sqft
    2019-01-01 80 days 1,479 sqft
    2019-02-01 83 days 1,519 sqft
    2019-03-01 72 days 1,521 sqft
    2019-04-01 59 days 1,535 sqft
    2019-05-01 40 days 1,530 sqft
    2019-06-01 37 days 1,520 sqft
    2019-07-01 44 days 1,575 sqft
    2019-08-01 48 days 1,563 sqft
    2019-09-01 50 days 1,545 sqft
    2019-10-01 53 days 1,533 sqft
    2019-11-01 58 days 1,520 sqft
    2019-12-01 71 days 1,531 sqft
    2020-01-01 78 days 1,508 sqft
    2020-02-01 74 days 1,453 sqft
    2020-03-01 61 days 1,472 sqft
    2020-04-01 73 days 1,480 sqft
    2020-05-01 74 days 1,456 sqft
    2020-06-01 39 days 1,539 sqft
    2020-07-01 32 days 1,547 sqft
    2020-08-01 29 days 1,578 sqft
    2020-09-01 26 days 1,561 sqft
    2020-10-01 31 days 1,568 sqft
    2020-11-01 37 days 1,521 sqft
    2020-12-01 45 days 1,489 sqft
    2021-01-01 47 days 1,422 sqft
    2021-02-01 44 days 1,434 sqft
    2021-03-01 37 days 1,390 sqft
    2021-04-01 25 days 1,396 sqft
    2021-05-01 17 days 1,486 sqft
    2021-06-01 22 days 1,460 sqft
    2021-07-01 24 days 1,422 sqft
    2021-08-01 27 days 1,469 sqft
    2021-09-01 35 days 1,403 sqft
    2021-10-01 39 days 1,404 sqft
    2021-11-01 46 days 1,385 sqft
    2021-12-01 54 days 1,367 sqft
    2022-01-01 66 days 1,317 sqft
    2022-02-01 69 days 1,353 sqft
    2022-03-01 40 days 1,364 sqft
    2022-04-01 30 days 1,454 sqft
    2022-05-01 24 days 1,419 sqft
    2022-06-01 26 days 1,450 sqft
    2022-07-01 30 days 1,522 sqft
    2022-08-01 31 days 1,498 sqft
    2022-09-01 42 days 1,456 sqft
    2022-10-01 46 days 1,493 sqft
    2022-11-01 45 days 1,473 sqft
    2022-12-01 53 days 1,472 sqft
    2023-01-01 54 days 1,494 sqft
    2023-02-01 61 days 1,483 sqft
    2023-03-01 58 days 1,462 sqft
    2023-04-01 54 days 1,552 sqft
    2023-05-01 35 days 1,549 sqft
    2023-06-01 32 days 1,542 sqft
    2023-07-01 29 days 1,430 sqft
    2023-08-01 31 days 1,427 sqft
    2023-09-01 40 days 1,430 sqft
    2023-10-01 46 days 1,430 sqft
    2023-11-01 45 days 1,451 sqft
    2023-12-01 57 days 1,443 sqft
    2024-01-01 69 days 1,443 sqft
    2024-02-01 71 days 1,456 sqft
    2024-03-01 52 days 1,486 sqft
    Saginaw's median listing age (time on market) for 2024-03-01 was 52 days. This is -10% shorter than the same period one year ago.

    Saginaw's median square footage for active listings during the 2024-03-01 period was 1,486 sqft. One year prior, the average listing was 1,462 sqft.