Sault Ste. Marie USDA Loan Rates, Closing Costs & Stats
Sault Ste. Marie, 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.
Sault Ste. Marie's 2 lenders originated 2 USDA loans during 2023. The total origination value was $270,000, with an average USDA loan value of $135,000.
Sault Ste. Marie USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Sault Ste. Marie
averaged
6.36%
for the week of 2024-12-13, compared to the national average (all USDA variants) of
6.303% for the same period.
Sault Ste. Marie's average USDA mortgage closing costs are $4,015.
The average rate for the prior week (2024-12-06) was
6.29% and
one month ago for the week of 2024-11-08, the
average rate was 6.61%.
The average rate one year ago was 7.08%.
For refis of the same type during the week of 2024-12-13, the average rate
was 6.4%.
Sault Ste. Marie 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 Sault Ste. Marie level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 5.13% | $17,309 |
| VAN DYK MORTGAGE CORPORATION | 1 | 8.13% | $5,998 |
The top Sault Ste. Marie USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
1 USDA loans originated. Their average total fees are
$17,309, which is $11,311
higher than the next largest lender,
VAN DYK MORTGAGE CORPORATION.
The lowest fee Sault Ste. Marie USDA lenders (with over 10 loans originated) are
.
The lowest rate Sault Ste. Marie USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Sault Ste. Marie (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 | $138,750 (15.7%) | $186,914 (10.2%) | 0.00 | 398 |
| 2018-02-01 | $137,900 (11.1%) | $185,743 (-1.1%) | 0.00 | 387 |
| 2018-03-01 | $139,000 (11.3%) | $192,974 (3.1%) | 0.00 | 366 |
| 2018-04-01 | $140,000 (12.0%) | $195,088 (4.3%) | 0.00 | 371 |
| 2018-05-01 | $148,375 (14.2%) | $197,789 (5.1%) | 0.00 | 382 |
| 2018-06-01 | $149,000 (14.7%) | $194,543 (2.0%) | 0.00 | 443 |
| 2018-07-01 | $144,250 (11.1%) | $191,157 (0.4%) | 0.00 | 485 |
| 2018-08-01 | $146,250 (9.5%) | $192,618 (-1.4%) | 0.00 | 489 |
| 2018-09-01 | $138,000 (2.2%) | $189,185 (-2.5%) | 0.00 | 464 |
| 2018-10-01 | $137,225 (0.6%) | $193,996 (7.3%) | 0.00 | 427 |
| 2018-11-01 | $135,000 (-1.6%) | $195,108 (7.6%) | 0.00 | 409 |
| 2018-12-01 | $139,000 (0.0%) | $196,075 (5.9%) | 0.00 | 373 |
| 2019-01-01 | $144,700 (4.3%) | $198,948 (6.4%) | 0.00 | 346 |
| 2019-02-01 | $149,000 (8.1%) | $204,049 (9.9%) | 0.00 | 344 |
| 2019-03-01 | $149,386 (7.5%) | $206,637 (7.1%) | 0.00 | 329 |
| 2019-04-01 | $149,948 (7.1%) | $209,033 (7.2%) | 0.00 | 329 |
| 2019-05-01 | $149,900 (1.0%) | $208,274 (5.3%) | 0.00 | 324 |
| 2019-06-01 | $157,000 (5.4%) | $208,672 (7.3%) | 0.00 | 354 |
| 2019-07-01 | $156,500 (8.5%) | $202,736 (6.1%) | 0.00 | 386 |
| 2019-08-01 | $155,455 (6.3%) | $201,498 (4.6%) | 0.00 | 391 |
| 2019-09-01 | $154,636 (12.1%) | $199,939 (5.7%) | 0.00 | 389 |
| 2019-10-01 | $154,341 (12.5%) | $198,900 (2.5%) | 0.00 | 383 |
| 2019-11-01 | $154,500 (14.4%) | $201,142 (3.1%) | 0.00 | 348 |
| 2019-12-01 | $159,000 (14.4%) | $200,900 (2.5%) | 0.00 | 313 |
| 2020-01-01 | $156,750 (8.3%) | $197,433 (-0.8%) | 0.00 | 296 |
| 2020-02-01 | $158,000 (6.0%) | $202,401 (-0.8%) | 0.00 | 294 |
| 2020-03-01 | $159,900 (7.0%) | $206,246 (-0.2%) | 0.00 | 286 |
| 2020-04-01 | $159,900 (6.6%) | $206,158 (-1.4%) | 0.00 | 287 |
| 2020-05-01 | $159,900 (6.7%) | $200,148 (-3.9%) | 0.00 | 287 |
| 2020-06-01 | $159,900 (1.9%) | $198,901 (-4.7%) | 0.00 | 279 |
| 2020-07-01 | $159,950 (2.2%) | $203,568 (0.4%) | 0.00 | 262 |
| 2020-08-01 | $167,450 (7.7%) | $203,844 (1.2%) | 0.00 | 232 |
| 2020-09-01 | $159,450 (3.1%) | $201,817 (0.9%) | 0.00 | 202 |
| 2020-10-01 | $159,450 (3.3%) | $210,772 (6.0%) | 0.00 | 174 |
| 2020-11-01 | $153,325 (-0.8%) | $213,336 (6.1%) | 0.00 | 173 |
| 2020-12-01 | $144,225 (-9.3%) | $197,625 (-1.6%) | 0.00 | 158 |
| 2021-01-01 | $146,500 (-6.5%) | $208,157 (5.4%) | 0.00 | 139 |
| 2021-02-01 | $156,000 (-1.3%) | $226,140 (11.7%) | 0.00 | 121 |
| 2021-03-01 | $175,000 (9.4%) | $237,445 (15.1%) | 0.00 | 107 |
| 2021-04-01 | $179,667 (12.4%) | $276,360 (34.1%) | 0.00 | 94 |
| 2021-05-01 | $199,900 (25.0%) | $298,525 (49.2%) | 0.00 | 99 |
| 2021-06-01 | $198,000 (23.8%) | $296,848 (49.2%) | 0.00 | 121 |
| 2021-07-01 | $198,000 (23.8%) | $297,999 (46.4%) | 0.00 | 116 |
| 2021-08-01 | $202,000 (20.6%) | $316,545 (55.3%) | 0.00 | 120 |
| 2021-09-01 | $202,450 (27.0%) | $309,247 (53.2%) | 0.00 | 123 |
| 2021-10-01 | $210,000 (31.7%) | $298,838 (41.8%) | 0.00 | 110 |
| 2021-11-01 | $185,925 (21.3%) | $277,405 (30.0%) | 0.00 | 98 |
| 2021-12-01 | $176,950 (22.7%) | $257,774 (30.4%) | 0.00 | 90 |
| 2022-01-01 | $167,450 (14.3%) | $262,693 (26.2%) | 0.00 | 75 |
| 2022-02-01 | $176,725 (13.3%) | $266,736 (18.0%) | 0.00 | 55 |
| 2022-03-01 | $222,500 (27.1%) | $291,854 (22.9%) | 0.00 | 49 |
| 2022-04-01 | $194,950 (8.5%) | $276,878 (0.2%) | 0.00 | 53 |
| 2022-05-01 | $205,000 (2.6%) | $250,996 (-15.9%) | 0.00 | 64 |
| 2022-06-01 | $184,500 (-6.8%) | $240,062 (-19.1%) | 0.00 | 82 |
| 2022-07-01 | $190,000 (-4.0%) | $235,083 (-21.1%) | 0.00 | 92 |
| 2022-08-01 | $189,300 (-6.3%) | $240,017 (-24.2%) | 0.00 | 93 |
| 2022-09-01 | $189,925 (-6.2%) | $242,577 (-21.6%) | 0.00 | 92 |
| 2022-10-01 | $199,900 (-4.8%) | $294,351 (-1.5%) | 0.00 | 92 |
| 2022-11-01 | $225,000 (21.0%) | $367,333 (32.4%) | 0.00 | 80 |
| 2022-12-01 | $232,450 (31.4%) | $379,511 (47.2%) | 0.00 | 74 |
| 2023-01-01 | $247,425 (47.8%) | $421,396 (60.4%) | 0.00 | 61 |
| 2023-02-01 | $239,900 (35.8%) | $403,510 (51.3%) | 0.00 | 63 |
| 2023-03-01 | $250,000 (12.4%) | $426,657 (46.2%) | 0.00 | 64 |
| 2023-04-01 | $270,000 (38.5%) | $476,667 (72.2%) | 0.00 | 56 |
| 2023-05-01 | $242,400 (18.2%) | $367,064 (46.2%) | 0.00 | 71 |
| 2023-06-01 | $225,000 (22.0%) | $337,424 (40.6%) | 0.00 | 86 |
| 2023-07-01 | $239,900 (26.3%) | $334,933 (42.5%) | 0.00 | 100 |
| 2023-08-01 | $229,725 (21.4%) | $328,440 (36.8%) | 0.00 | 103 |
| 2023-09-01 | $215,000 (13.2%) | $318,327 (31.2%) | 0.00 | 102 |
| 2023-10-01 | $212,500 (6.3%) | $292,074 (-0.8%) | 0.00 | 103 |
| 2023-11-01 | $218,000 (-3.1%) | $294,642 (-19.8%) | 0.00 | 94 |
| 2023-12-01 | $225,250 (-3.1%) | $324,842 (-14.4%) | 0.00 | 84 |
| 2024-01-01 | $234,450 (-5.2%) | $333,099 (-21.0%) | 0.00 | 73 |
| 2024-02-01 | $249,250 (3.9%) | $329,927 (-18.2%) | 0.00 | 70 |
| 2024-03-01 | $250,000 (0.0%) | $352,729 (-17.3%) | 0.00 | 63 |
| 2024-04-01 | $261,200 (-3.3%) | $354,760 (-25.6%) | 0.00 | 73 |
| 2024-05-01 | $278,200 (14.8%) | $366,428 (-0.2%) | 0.00 | 81 |
| 2024-06-01 | $264,950 (17.8%) | $391,361 (16.0%) | 0.00 | 100 |
| 2024-07-01 | $262,225 (9.3%) | $372,394 (11.2%) | 0.00 | 107 |
| 2024-08-01 | $269,000 (17.1%) | $360,755 (9.8%) | 0.00 | 115 |
| 2024-09-01 | $260,500 (21.2%) | $354,279 (11.3%) | 0.00 | 112 |
| 2024-10-01 | $259,375 (22.1%) | $348,730 (19.4%) | 0.00 | 111 |
| 2024-11-01 | $249,000 (14.2%) | $340,017 (15.4%) | 0.00 | 101 |
Sault Ste. Marie's median listing price comes in at 0% of the national average.
Sault Ste. Marie's average listing price for 2024-11-01 was $340,017, a difference of $45,375 (15.4%) versus the prior year and $-8,713 versus the prior month.
For the 2024-11-01 period, Sault Ste. Marie had 101 MLS listings, a difference of -10 listings (-9%) versus the prior month and 7 listings (7%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Sault Ste. Marie (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,355 sqft |
| 2018-02-01 | 0 days | 1,400 sqft |
| 2018-03-01 | 0 days | 1,433 sqft |
| 2018-04-01 | 0 days | 1,429 sqft |
| 2018-05-01 | 0 days | 1,420 sqft |
| 2018-06-01 | 0 days | 1,424 sqft |
| 2018-07-01 | 0 days | 1,389 sqft |
| 2018-08-01 | 0 days | 1,391 sqft |
| 2018-09-01 | 0 days | 1,350 sqft |
| 2018-10-01 | 0 days | 1,365 sqft |
| 2018-11-01 | 0 days | 1,358 sqft |
| 2018-12-01 | 0 days | 1,352 sqft |
| 2019-01-01 | 0 days | 1,362 sqft |
| 2019-02-01 | 0 days | 1,392 sqft |
| 2019-03-01 | 0 days | 1,395 sqft |
| 2019-04-01 | 0 days | 1,403 sqft |
| 2019-05-01 | 0 days | 1,400 sqft |
| 2019-06-01 | 0 days | 1,400 sqft |
| 2019-07-01 | 0 days | 1,371 sqft |
| 2019-08-01 | 0 days | 1,361 sqft |
| 2019-09-01 | 0 days | 1,383 sqft |
| 2019-10-01 | 0 days | 1,400 sqft |
| 2019-11-01 | 0 days | 1,394 sqft |
| 2019-12-01 | 0 days | 1,391 sqft |
| 2020-01-01 | 0 days | 1,321 sqft |
| 2020-02-01 | 0 days | 1,354 sqft |
| 2020-03-01 | 0 days | 1,404 sqft |
| 2020-04-01 | 0 days | 1,400 sqft |
| 2020-05-01 | 0 days | 1,400 sqft |
| 2020-06-01 | 0 days | 1,375 sqft |
| 2020-07-01 | 0 days | 1,387 sqft |
| 2020-08-01 | 0 days | 1,400 sqft |
| 2020-09-01 | 0 days | 1,351 sqft |
| 2020-10-01 | 0 days | 1,325 sqft |
| 2020-11-01 | 0 days | 1,354 sqft |
| 2020-12-01 | 0 days | 1,388 sqft |
| 2021-01-01 | 0 days | 1,400 sqft |
| 2021-02-01 | 0 days | 1,420 sqft |
| 2021-03-01 | 0 days | 1,388 sqft |
| 2021-04-01 | 0 days | 1,346 sqft |
| 2021-05-01 | 0 days | 1,440 sqft |
| 2021-06-01 | 0 days | 1,488 sqft |
| 2021-07-01 | 0 days | 1,512 sqft |
| 2021-08-01 | 0 days | 1,512 sqft |
| 2021-09-01 | 0 days | 1,428 sqft |
| 2021-10-01 | 0 days | 1,432 sqft |
| 2021-11-01 | 0 days | 1,392 sqft |
| 2021-12-01 | 0 days | 1,334 sqft |
| 2022-01-01 | 0 days | 1,360 sqft |
| 2022-02-01 | 0 days | 1,427 sqft |
| 2022-03-01 | 0 days | 1,522 sqft |
| 2022-04-01 | 0 days | 1,418 sqft |
| 2022-05-01 | 0 days | 1,378 sqft |
| 2022-06-01 | 0 days | 1,350 sqft |
| 2022-07-01 | 0 days | 1,337 sqft |
| 2022-08-01 | 0 days | 1,376 sqft |
| 2022-09-01 | 0 days | 1,346 sqft |
| 2022-10-01 | 0 days | 1,451 sqft |
| 2022-11-01 | 0 days | 1,570 sqft |
| 2022-12-01 | 0 days | 1,600 sqft |
| 2023-01-01 | 0 days | 1,600 sqft |
| 2023-02-01 | 0 days | 1,586 sqft |
| 2023-03-01 | 0 days | 1,613 sqft |
| 2023-04-01 | 0 days | 1,613 sqft |
| 2023-05-01 | 0 days | 1,462 sqft |
| 2023-06-01 | 0 days | 1,459 sqft |
| 2023-07-01 | 0 days | 1,443 sqft |
| 2023-08-01 | 0 days | 1,412 sqft |
| 2023-09-01 | 0 days | 1,380 sqft |
| 2023-10-01 | 0 days | 1,347 sqft |
| 2023-11-01 | 0 days | 1,408 sqft |
| 2023-12-01 | 0 days | 1,440 sqft |
| 2024-01-01 | 0 days | 1,420 sqft |
| 2024-02-01 | 0 days | 1,476 sqft |
| 2024-03-01 | 0 days | 1,500 sqft |
| 2024-04-01 | 0 days | 1,500 sqft |
| 2024-05-01 | 0 days | 1,677 sqft |
| 2024-06-01 | 0 days | 1,628 sqft |
| 2024-07-01 | 0 days | 1,509 sqft |
| 2024-08-01 | 0 days | 1,600 sqft |
| 2024-09-01 | 0 days | 1,600 sqft |
| 2024-10-01 | 0 days | 1,604 sqft |
| 2024-11-01 | 0 days | 1,604 sqft |
Sault Ste. Marie's median square footage for active listings during the 2024-11-01 period was 1,604 sqft. One year prior, the average listing was 1,408 sqft.