Sturgis USDA Loan Rates, Closing Costs & Stats

Sturgis, 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.

Sturgis's 13 lenders originated 42 USDA loans during 2022. The total origination value was $5,900,000, with an average USDA loan value of $140,476.

Sturgis USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Sturgis averaged 6.2% for the week of 2024-03-15, compared to the national average (all USDA variants) of 6.587% for the same period.

Sturgis's average USDA mortgage closing costs are $4,385.

The average rate for the prior week (2024-03-08) was 6.6% and one month ago for the week of 2024-02-09, the average rate was 6.44%.

The average rate one year ago was 6.43%.

For refis of the same type during the week of 2024-03-15, the average rate was 6.49%.

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

Sturgis 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 Sturgis level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
AMERIFIRST FINANCIAL CORPORATION 14 5.11% $6,789
RUOFF MORTGAGE COMPANY, INC. 10 4.95% $3,222
OAK MORTGAGE, LLC 8 5.16% $3,848
EVERETT FINANCIAL, INC. 1 7.13% $3,169
Flagstar Bank, FSB 1 6.25% $6,041
FLAT BRANCH MORTGAGE, INC. 1 3.75% $10,395
GUARANTEED RATE, INC. 1 4.38% $5,139
MORTGAGE 1 INCORPORATED 1 4.63% $7,383
SUCCESS MORTGAGE PARTNERS, INC. 1 5.00% $7,691
UNION HOME MORTGAGE CORP. 1 6.13% $3,396
UNITED WHOLESALE MORTGAGE, LLC 1 5.68% $4,447
CARDINAL FINANCIAL 1 4.75% $5,061
Carrington Mortgage Services, LLC 1 5.13% $6,967

The top Sturgis USDA lender as defined by loan originations is AMERIFIRST FINANCIAL CORPORATION, with 14 USDA loans originated. Their average total fees are $6,789, which is $3,567 higher than the next largest lender, RUOFF MORTGAGE COMPANY, INC..

The lowest fee Sturgis USDA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($3,222), AMERIFIRST FINANCIAL CORPORATION ($6,789), .

The lowest rate Sturgis USDA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. (4.95%), AMERIFIRST FINANCIAL CORPORATION (5.11%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Sturgis (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 $161,200 (15.2%) $205,540 (6.3%) 0.00 157
2018-02-01 $166,675 (19.1%) $212,100 (11.3%) 0.00 149
2018-03-01 $169,900 (7.2%) $216,607 (0.4%) 0.00 144
2018-04-01 $181,425 (9.3%) $230,524 (7.7%) 0.00 146
2018-05-01 $202,450 (23.8%) $236,456 (12.1%) 0.00 156
2018-06-01 $199,900 (21.0%) $238,874 (12.1%) 0.00 158
2018-07-01 $184,975 (12.1%) $243,687 (14.1%) 0.00 184
2018-08-01 $173,000 (8.2%) $238,035 (13.3%) 0.00 197
2018-09-01 $167,950 (3.7%) $235,066 (10.8%) 0.00 194
2018-10-01 $167,400 (3.4%) $238,953 (12.9%) 0.00 181
2018-11-01 $173,675 (8.6%) $234,879 (9.8%) 0.00 179
2018-12-01 $159,900 (-3.0%) $226,745 (5.6%) 0.00 174
2019-01-01 $168,950 (4.8%) $233,003 (13.4%) 0.00 156
2019-02-01 $178,650 (7.2%) $247,638 (16.8%) 0.00 140
2019-03-01 $189,729 (11.7%) $271,752 (25.5%) 0.00 140
2019-04-01 $192,904 (6.3%) $276,797 (20.1%) 0.00 149
2019-05-01 $213,725 (5.6%) $292,083 (23.5%) 0.00 155
2019-06-01 $213,500 (6.8%) $284,092 (18.9%) 0.00 163
2019-07-01 $193,225 (4.5%) $267,110 (9.6%) 0.00 188
2019-08-01 $188,873 (9.2%) $265,822 (11.7%) 0.00 200
2019-09-01 $185,007 (10.2%) $262,666 (11.7%) 0.00 216
2019-10-01 $180,950 (8.1%) $258,573 (8.2%) 0.00 227
2019-11-01 $179,900 (3.6%) $242,109 (3.1%) 0.00 206
2019-12-01 $163,825 (2.5%) $231,212 (2.0%) 0.00 198
2020-01-01 $177,450 (5.0%) $236,874 (1.7%) 0.00 186
2020-02-01 $181,950 (1.9%) $246,263 (-0.6%) 0.00 186
2020-03-01 $183,425 (-3.3%) $259,045 (-4.7%) 0.00 167
2020-04-01 $189,400 (-1.8%) $268,313 (-3.1%) 0.00 157
2020-05-01 $197,250 (-7.7%) $286,762 (-1.8%) 0.00 148
2020-06-01 $222,350 (4.2%) $305,475 (7.5%) 0.00 133
2020-07-01 $212,273 (9.9%) $313,943 (17.5%) 0.00 125
2020-08-01 $219,950 (16.5%) $316,475 (19.1%) 0.00 102
2020-09-01 $193,444 (4.6%) $301,610 (14.8%) 0.00 81
2020-10-01 $169,950 (-6.1%) $289,563 (12.0%) 0.00 88
2020-11-01 $180,975 (0.6%) $306,961 (26.8%) 0.00 82
2020-12-01 $156,800 (-4.3%) $302,197 (30.7%) 0.00 82
2021-01-01 $149,950 (-15.5%) $309,138 (30.5%) 0.00 61
2021-02-01 $169,150 (-7.0%) $314,921 (27.9%) 0.00 44
2021-03-01 $162,150 (-11.6%) $372,944 (44.0%) 0.00 42
2021-04-01 $197,400 (4.2%) $414,570 (54.5%) 0.00 34
2021-05-01 $225,000 (14.1%) $419,214 (46.2%) 0.00 38
2021-06-01 $232,500 (4.6%) $383,613 (25.6%) 0.00 58
2021-07-01 $231,950 (9.3%) $354,345 (12.9%) 0.00 65
2021-08-01 $225,000 (2.3%) $346,263 (9.4%) 0.00 74
2021-09-01 $222,450 (15.0%) $347,732 (15.3%) 0.00 86
2021-10-01 $225,000 (32.4%) $387,132 (33.7%) 0.00 77
2021-11-01 $186,250 (2.9%) $320,273 (4.3%) 0.00 72
2021-12-01 $181,950 (16.0%) $317,323 (5.0%) 0.00 64
2022-01-01 $175,900 (17.3%) $322,176 (4.2%) 0.00 62
2022-02-01 $174,950 (3.4%) $287,517 (-8.7%) 0.00 69
2022-03-01 $175,158 (8.0%) $306,692 (-17.8%) 0.00 56
2022-04-01 $239,900 (21.5%) $354,518 (-14.5%) 0.00 51
2022-05-01 $256,200 (13.9%) $340,282 (-18.8%) 0.00 65
2022-06-01 $267,200 (14.9%) $381,475 (-0.6%) 0.00 83
2022-07-01 $247,500 (6.7%) $319,078 (-10.0%) 0.00 95
2022-08-01 $213,725 (-5.0%) $292,578 (-15.5%) 0.00 103
2022-09-01 $239,450 (7.6%) $302,600 (-13.0%) 0.00 98
2022-10-01 $229,900 (2.2%) $297,162 (-23.2%) 0.00 92
2022-11-01 $210,000 (12.8%) $268,350 (-16.2%) 0.00 95
2022-12-01 $199,900 (9.9%) $258,989 (-18.4%) 0.00 94
2023-01-01 $204,950 (16.5%) $253,517 (-21.3%) 0.00 84
2023-02-01 $210,500 (20.3%) $275,279 (-4.3%) 0.00 65
2023-03-01 $211,400 (20.7%) $311,829 (1.7%) 0.00 42
2023-04-01 $249,900 (4.2%) $310,953 (-12.3%) 0.00 49
2023-05-01 $247,475 (-3.4%) $292,771 (-14.0%) 0.00 59
2023-06-01 $269,225 (0.8%) $341,760 (-10.4%) 0.00 67
2023-07-01 $254,900 (3.0%) $343,952 (7.8%) 0.00 75
2023-08-01 $254,900 (19.3%) $340,703 (16.5%) 0.00 85
2023-09-01 $249,950 (4.4%) $343,936 (13.7%) 0.00 80
2023-10-01 $233,650 (1.6%) $338,395 (13.9%) 0.00 89
2023-11-01 $220,225 (4.9%) $317,808 (18.4%) 0.00 82
2023-12-01 $229,900 (15.0%) $345,686 (33.5%) 0.00 77
2024-01-01 $217,250 (6.0%) $323,614 (27.7%) 0.00 76
Sturgis's median listing price for 2024-01-01 was $217,250, a difference of $12,300 (6.0%) versus the prior year and $-12,650 versus the prior month.

Sturgis's median listing price comes in at 0% of the national average.

Sturgis's average listing price for 2024-01-01 was $323,614, a difference of $70,097 (27.7%) versus the prior year and $-22,072 versus the prior month.

For the 2024-01-01 period, Sturgis had 76 MLS listings, a difference of -1 listings (-1%) versus the prior month and -8 listings (-10%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Sturgis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,754 sqft
2018-02-01 0 days 1,734 sqft
2018-03-01 0 days 1,741 sqft
2018-04-01 0 days 1,783 sqft
2018-05-01 0 days 1,804 sqft
2018-06-01 0 days 1,775 sqft
2018-07-01 0 days 1,789 sqft
2018-08-01 0 days 1,733 sqft
2018-09-01 0 days 1,877 sqft
2018-10-01 0 days 1,880 sqft
2018-11-01 0 days 1,935 sqft
2018-12-01 0 days 1,850 sqft
2019-01-01 0 days 1,946 sqft
2019-02-01 0 days 1,935 sqft
2019-03-01 0 days 1,894 sqft
2019-04-01 0 days 1,836 sqft
2019-05-01 0 days 1,879 sqft
2019-06-01 0 days 1,840 sqft
2019-07-01 0 days 1,767 sqft
2019-08-01 0 days 1,829 sqft
2019-09-01 0 days 1,818 sqft
2019-10-01 0 days 1,805 sqft
2019-11-01 0 days 1,800 sqft
2019-12-01 0 days 1,710 sqft
2020-01-01 0 days 1,766 sqft
2020-02-01 0 days 1,741 sqft
2020-03-01 0 days 1,783 sqft
2020-04-01 0 days 1,770 sqft
2020-05-01 0 days 1,801 sqft
2020-06-01 0 days 1,893 sqft
2020-07-01 0 days 1,849 sqft
2020-08-01 0 days 1,931 sqft
2020-09-01 0 days 1,756 sqft
2020-10-01 0 days 1,720 sqft
2020-11-01 0 days 1,708 sqft
2020-12-01 0 days 1,624 sqft
2021-01-01 0 days 1,654 sqft
2021-02-01 0 days 1,669 sqft
2021-03-01 0 days 1,628 sqft
2021-04-01 0 days 1,664 sqft
2021-05-01 0 days 1,844 sqft
2021-06-01 0 days 1,922 sqft
2021-07-01 0 days 1,890 sqft
2021-08-01 0 days 1,977 sqft
2021-09-01 0 days 1,799 sqft
2021-10-01 0 days 1,800 sqft
2021-11-01 0 days 1,741 sqft
2021-12-01 0 days 1,701 sqft
2022-01-01 0 days 1,700 sqft
2022-02-01 0 days 1,737 sqft
2022-03-01 0 days 1,675 sqft
2022-04-01 0 days 1,816 sqft
2022-05-01 0 days 1,822 sqft
2022-06-01 0 days 1,802 sqft
2022-07-01 0 days 1,783 sqft
2022-08-01 0 days 1,769 sqft
2022-09-01 0 days 1,731 sqft
2022-10-01 0 days 1,833 sqft
2022-11-01 0 days 1,802 sqft
2022-12-01 0 days 1,730 sqft
2023-01-01 0 days 1,786 sqft
2023-02-01 0 days 1,800 sqft
2023-03-01 0 days 1,755 sqft
2023-04-01 0 days 1,800 sqft
2023-05-01 0 days 1,703 sqft
2023-06-01 0 days 1,867 sqft
2023-07-01 0 days 1,830 sqft
2023-08-01 0 days 1,785 sqft
2023-09-01 0 days 1,826 sqft
2023-10-01 0 days 1,628 sqft
2023-11-01 0 days 1,619 sqft
2023-12-01 0 days 1,700 sqft
2024-01-01 0 days 1,655 sqft
Sturgis's median listing age (time on market) for 2024-01-01 was 0 days.

Sturgis's median square footage for active listings during the 2024-01-01 period was 1,655 sqft. One year prior, the average listing was 1,786 sqft.