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 11 lenders originated 23 USDA loans during 2023. The total origination value was $3,585,000, with an average USDA loan value of $155,870.
Sturgis USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Sturgis
averaged
6.04%
for the week of 2024-10-11, compared to the national average (all USDA variants) of
6.08% for the same period.
Sturgis's average USDA mortgage closing costs are $4,444.
The average rate for the prior week (2024-10-04) was
5.93% and
one month ago for the week of 2024-09-06, the
average rate was 6.02%.
The average rate one year ago was 7.31%.
For refis of the same type during the week of 2024-10-11, the average rate
was 6.18%.
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
RUOFF MORTGAGE COMPANY, INC. | 5 | 6.73% | $2,520 |
UNION HOME MORTGAGE CORP. | 5 | 7.10% | $8,646 |
CROSSCOUNTRY MORTGAGE, LLC | 3 | 7.25% | $7,913 |
OAK MORTGAGE, LLC | 3 | 6.21% | $3,440 |
LAKE MICHIGAN CREDIT UNION | 1 | 5.75% | $7,071 |
MICHIGAN MUTUAL, INC. | 1 | 5.88% | $4,965 |
Neighborhood Loans, Inc. | 1 | 8.00% | $4,996 |
Fifth Third Bank | 1 | 6.13% | $4,556 |
FIRST COLONY MORTGAGE CORPORATION | 1 | 7.25% | $4,709 |
SUCCESS MORTGAGE PARTNERS, INC. | 1 | 7.13% | $6,495 |
GVC MORTGAGE, INC. | 1 | 7.13% | $4,419 |
The top Sturgis USDA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with
5 USDA loans originated. Their average total fees are
$2,520, which is $6,126
lower than the next largest lender,
UNION HOME MORTGAGE CORP..
The lowest fee Sturgis USDA lenders (with over 10 loans originated) are
.
The lowest rate Sturgis USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Sturgis (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 | $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 |
2024-02-01 | $231,500 (10.0%) | $296,590 (7.7%) | 0.00 | 71 |
2024-03-01 | $239,450 (13.3%) | $295,803 (-5.1%) | 0.00 | 83 |
2024-04-01 | $256,950 (2.8%) | $335,727 (8.0%) | 0.00 | 90 |
2024-05-01 | $289,000 (16.8%) | $381,839 (30.4%) | 0.00 | 89 |
2024-06-01 | $299,998 (11.4%) | $381,086 (11.5%) | 0.00 | 102 |
2024-07-01 | $262,450 (3.0%) | $328,715 (-4.4%) | 0.00 | 101 |
2024-08-01 | $269,900 (5.9%) | $326,970 (-4.0%) | 0.00 | 114 |
2024-09-01 | $257,400 (3.0%) | $308,897 (-10.2%) | 0.00 | 136 |
Sturgis's median listing price comes in at 0% of the national average.
Sturgis's average listing price for 2024-09-01 was $308,897, a difference of $-35,039 (-10.2%) versus the prior year and $-18,073 versus the prior month.
For the 2024-09-01 period, Sturgis had 136 MLS listings, a difference of 22 listings (19%) versus the prior month and 56 listings (70%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Sturgis (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 |
2024-02-01 | 0 days | 1,635 sqft |
2024-03-01 | 0 days | 1,645 sqft |
2024-04-01 | 0 days | 1,863 sqft |
2024-05-01 | 0 days | 1,988 sqft |
2024-06-01 | 0 days | 2,000 sqft |
2024-07-01 | 0 days | 1,793 sqft |
2024-08-01 | 0 days | 1,822 sqft |
2024-09-01 | 0 days | 1,772 sqft |
Sturgis's median square footage for active listings during the 2024-09-01 period was 1,772 sqft. One year prior, the average listing was 1,826 sqft.