Warren USDA Loans

WARREN-TROY-FARMINGTON HILLS, MI

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Warren's 61 lenders originated 440 USDA loans during 2021. The total origination value was $90,370,000, with an average USDA loan value of $205,386.

    Warren USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Warren averaged 4.39% for the week of 2022-03-25, compared to the national average (all USDA variants) of 4.554% for the same period.

    The average rate for the prior week (2022-03-18) was 4.61% and one month ago for the week of 2022-02-18, the average rate was 4.12%.

    The average rate one year ago was 3.31%.

    For refis of the same type during the week of 2022-03-25, the average rate was 4.51%.

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

    Warren USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Warren level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    MORTGAGE 1 INCORPORATED 51 3.05% $6,813
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 46 2.89% $6,268
    J. VIRGIL, INC. 40 3.07% $7,261
    AMERIFIRST FINANCIAL CORPORATION 37 3.13% $5,939
    UNION HOME MORTGAGE CORP. 27 2.78% $5,250
    Flagstar Bank, FSB 18 2.78% $5,705
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 16 3.01% $6,122
    MICHIGAN MUTUAL, INC. 15 3.13% $5,524
    UNITED WHOLESALE MORTGAGE, LLC 10 2.95% $5,971
    STAUNTON FINANCIAL, INC. 10 2.85% $5,563
    PLAZA HOME MORTGAGE, INC. 10 3.07% $5,537
    HOME POINT FINANCIAL CORPORATION 9 2.90% $6,068
    CROSSCOUNTRY MORTGAGE, LLC 9 3.05% $5,473
    Preston Home Loans Inc 8 3.08% $5,739
    Platinum Home Mortgage Corporation 7 2.82% $5,770
    SUCCESS MORTGAGE PARTNERS, INC. 7 3.39% $7,386
    CALIBER HOME LOANS, INC. 6 3.08% $4,861
    SECURITY CREDIT UNION 6 3.21% $4,398
    HOMESITE MORTGAGE, LLC 5 3.12% $5,755
    UNIVERSITY LENDING GROUP, LLC 5 2.80% $6,235
    PENNYMAC LOAN SERVICES, LLC 5 2.85% $4,856
    LAKE MICHIGAN CREDIT UNION 5 2.90% $5,223
    First State Bank 4 3.47% $4,770
    ACADEMY MORTGAGE CORPORATION 4 3.28% $5,986
    Independent Bank 4 3.13% $5,925
    ROSS MORTGAGE CORPORATION 4 3.41% $6,555
    MID AMERICA MORTGAGE, INC. 4 3.31% $3,619
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 3 3.38% $5,285
    BLG HOLDINGS, INC. 3 3.08% $6,029
    RUOFF MORTGAGE COMPANY, INC. 2 3.00% $5,863
    FREEDOM MORTGAGE CORPORATION 2 2.88% $4,036
    Sierra Pacific Mortgage Company, Inc. 2 2.63% $6,575
    MOVEMENT MORTGAGE, LLC 2 2.94% $4,989
    Bank of Ann Arbor 2 2.88% $5,340
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.31% $7,119
    KELLER MORTGAGE, LLC 2 2.56% $4,998
    GUARANTEED RATE, INC. 2 3.31% $5,030
    POLARIS HOME FUNDING CORP. 2 2.88% $4,956
    Paramount Residential Mortgage Group, Inc. 2 3.25% $6,147
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.25% $6,828
    BROKER SOLUTIONS, INC. 2 3.81% $3,015
    Bank of England 1 3.00% $5,511
    SUMMIT FUNDING, INC. 1 2.88% $5,175
    The Huntington National Bank 1 2.63% $3,949
    TOWNE MORTGAGE COMPANY 1 2.75% $7,384
    Austin Capital Bank SSB 1 3.50% $6,146
    AMERICAN FINANCIAL NETWORK, INC. 1 3.00% $8,592
    ADVISORS CAPITAL, INC. 1 2.63% $5,310
    INSPIRE HOME LOANS INC. 1 3.63% $5,394
    Wells Fargo Bank 1 2.25% $3,946
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.75% $8,916
    LAKEVIEW LOAN SERVICING, LLC 1 2.75% $3,071
    GVC MORTGAGE, INC. 1 3.88% $6,114
    GUARANTY HOME MORTGAGE CORPORATION 1 3.13% $7,716
    Old National Bank 1 2.25% $7,237
    OPEN MORTGAGE, LLC 1 2.63% $3,773
    PLANET HOME LENDING, LLC 1 2.38% $3,983
    Citizens Bank 1 3.25% $3,751
    PNC Bank 1 2.63% $3,544
    Century Mortgage Company DBA Century Lending Company 1 4.50% $4,854
    BAYSHORE MORTGAGE FUNDING, LLC 1 3.63% $5,646

    The top Warren USDA lender as defined by loan originations is MORTGAGE 1 INCORPORATED, with 51 USDA loans originated. Their average total fees are $6,813, which is $545 higher than the next largest lender, HIGHLANDS RESIDENTIAL MORTGAGE, LTD..

    The lowest fee Warren USDA lenders (with over 10 loans originated) are UNION HOME MORTGAGE CORP. ($5,250), MICHIGAN MUTUAL, INC. ($5,524), PLAZA HOME MORTGAGE, INC. ($5,537), STAUNTON FINANCIAL, INC. ($5,563) and Flagstar Bank, FSB ($5,705).

    The lowest rate Warren USDA lenders (with over 10 loans originated) are UNION HOME MORTGAGE CORP. (2.78%), Flagstar Bank, FSB (2.78%), STAUNTON FINANCIAL, INC. (2.85%), HIGHLANDS RESIDENTIAL MORTGAGE, LTD. (2.89%) and UNITED WHOLESALE MORTGAGE, LLC (2.95%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Warren (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 $199,450 (7.2%) $307,748 (4.8%) 0.73 10,243
    2018-02-01 $202,400 (5.3%) $316,034 (4.9%) 0.73 9,588
    2018-03-01 $223,000 (5.0%) $337,028 (7.2%) 0.77 9,395
    2018-04-01 $242,450 (7.8%) $342,600 (4.1%) 0.81 9,811
    2018-05-01 $249,900 (6.4%) $348,144 (2.6%) 0.83 10,802
    2018-06-01 $252,000 (5.7%) $353,204 (3.4%) 0.84 12,035
    2018-07-01 $249,950 (6.4%) $347,899 (3.9%) 0.83 13,283
    2018-08-01 $244,900 (8.8%) $335,598 (2.8%) 0.82 14,600
    2018-09-01 $239,900 (6.7%) $334,488 (2.9%) 0.80 15,246
    2018-10-01 $231,700 (5.4%) $325,656 (1.7%) 0.77 15,179
    2018-11-01 $225,000 (4.7%) $318,611 (0.7%) 0.75 14,782
    2018-12-01 $219,900 (7.3%) $313,544 (0.2%) 0.75 13,506
    2019-01-01 $219,700 (10.2%) $312,979 (1.7%) 0.76 12,424
    2019-02-01 $219,952 (8.7%) $316,633 (0.2%) 0.74 11,742
    2019-03-01 $234,971 (5.4%) $329,887 (-2.1%) 0.77 11,477
    2019-04-01 $252,450 (4.1%) $345,866 (1.0%) 0.79 11,469
    2019-05-01 $259,900 (4.0%) $353,689 (1.6%) 0.80 12,508
    2019-06-01 $264,900 (5.1%) $352,225 (-0.3%) 0.82 13,857
    2019-07-01 $259,950 (4.0%) $347,048 (-0.2%) 0.81 15,141
    2019-08-01 $251,329 (2.6%) $336,777 (0.4%) 0.79 15,754
    2019-09-01 $239,900 (0.0%) $324,126 (-3.1%) 0.76 16,121
    2019-10-01 $239,150 (3.2%) $323,824 (-0.6%) 0.76 15,975
    2019-11-01 $232,900 (3.5%) $319,873 (0.4%) 0.75 14,923
    2019-12-01 $225,000 (2.3%) $314,459 (0.3%) 0.75 13,067
    2020-01-01 $224,400 (2.1%) $314,583 (0.5%) 0.75 11,700
    2020-02-01 $224,999 (2.3%) $319,395 (0.9%) 0.73 10,745
    2020-03-01 $239,900 (2.1%) $334,475 (1.4%) 0.75 10,285
    2020-04-01 $244,950 (-3.0%) $334,393 (-3.3%) 0.76 9,984
    2020-05-01 $254,700 (-2.0%) $345,247 (-2.4%) 0.77 10,708
    2020-06-01 $274,900 (3.8%) $368,856 (4.7%) 0.80 10,239
    2020-07-01 $279,950 (7.7%) $380,207 (9.6%) 0.80 9,825
    2020-08-01 $279,900 (11.4%) $381,969 (13.4%) 0.80 9,338
    2020-09-01 $274,950 (14.6%) $381,087 (17.6%) 0.79 9,033
    2020-10-01 $269,900 (12.9%) $381,166 (17.7%) 0.77 8,406
    2020-11-01 $259,900 (11.6%) $380,076 (18.8%) 0.74 7,714
    2020-12-01 $253,500 (12.7%) $378,211 (20.3%) 0.74 6,749
    2021-01-01 $250,000 (11.4%) $379,714 (20.7%) 0.74 5,642
    2021-02-01 $259,900 (15.5%) $395,378 (23.8%) 0.75 4,705
    2021-03-01 $271,200 (13.1%) $404,090 (20.8%) 0.76 4,548
    2021-04-01 $274,950 (12.3%) $411,182 (23.0%) 0.74 4,651
    2021-05-01 $279,900 (9.9%) $414,150 (20.0%) 0.74 5,253
    2021-06-01 $279,200 (1.6%) $401,220 (8.8%) 0.73 6,498
    2021-07-01 $277,450 (-0.9%) $399,822 (5.2%) 0.72 7,033
    2021-08-01 $267,500 (-4.4%) $387,080 (1.3%) 0.70 7,884
    2021-09-01 $252,500 (-8.2%) $374,582 (-1.7%) 0.66 8,067
    2021-10-01 $245,000 (-9.2%) $363,449 (-4.7%) 0.64 7,805
    2021-11-01 $230,900 (-11.2%) $351,438 (-7.5%) 0.61 7,238
    2021-12-01 $217,450 (-14.2%) $348,174 (-7.9%) 0.58 6,279
    2022-01-01 $210,000 (-16.0%) $344,377 (-9.3%) 0.56 5,163
    Warren's median listing price for 2022-01-01 was $210,000, a difference of $-40,000 (-16.0%) versus the prior year and $-7,450 versus the prior month.

    Warren's median listing price comes in at 56% of the national average.

    Warren's average listing price for 2022-01-01 was $344,377, a difference of $-35,337 (-9.3%) versus the prior year and $-3,797 versus the prior month.

    For the 2022-01-01 period, Warren had 5,163 MLS listings, a difference of -1,116 listings (-18%) versus the prior month and -479 listings (-8%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Warren (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 67 days 1,571 sqft
    2018-02-01 64 days 1,575 sqft
    2018-03-01 50 days 1,635 sqft
    2018-04-01 39 days 1,686 sqft
    2018-05-01 36 days 1,713 sqft
    2018-06-01 36 days 1,740 sqft
    2018-07-01 37 days 1,728 sqft
    2018-08-01 37 days 1,700 sqft
    2018-09-01 40 days 1,686 sqft
    2018-10-01 45 days 1,648 sqft
    2018-11-01 47 days 1,616 sqft
    2018-12-01 58 days 1,585 sqft
    2019-01-01 65 days 1,585 sqft
    2019-02-01 63 days 1,596 sqft
    2019-03-01 51 days 1,634 sqft
    2019-04-01 38 days 1,685 sqft
    2019-05-01 36 days 1,721 sqft
    2019-06-01 36 days 1,732 sqft
    2019-07-01 37 days 1,730 sqft
    2019-08-01 39 days 1,705 sqft
    2019-09-01 46 days 1,668 sqft
    2019-10-01 46 days 1,658 sqft
    2019-11-01 50 days 1,635 sqft
    2019-12-01 62 days 1,600 sqft
    2020-01-01 68 days 1,592 sqft
    2020-02-01 59 days 1,592 sqft
    2020-03-01 48 days 1,615 sqft
    2020-04-01 60 days 1,624 sqft
    2020-05-01 67 days 1,650 sqft
    2020-06-01 39 days 1,730 sqft
    2020-07-01 38 days 1,753 sqft
    2020-08-01 36 days 1,722 sqft
    2020-09-01 37 days 1,684 sqft
    2020-10-01 37 days 1,655 sqft
    2020-11-01 42 days 1,606 sqft
    2020-12-01 51 days 1,587 sqft
    2021-01-01 56 days 1,570 sqft
    2021-02-01 45 days 1,580 sqft
    2021-03-01 34 days 1,594 sqft
    2021-04-01 25 days 1,598 sqft
    2021-05-01 22 days 1,609 sqft
    2021-06-01 21 days 1,601 sqft
    2021-07-01 23 days 1,598 sqft
    2021-08-01 25 days 1,564 sqft
    2021-09-01 30 days 1,520 sqft
    2021-10-01 32 days 1,499 sqft
    2021-11-01 36 days 1,456 sqft
    2021-12-01 44 days 1,426 sqft
    2022-01-01 55 days 1,413 sqft
    Warren's median listing age (time on market) for 2022-01-01 was 55 days. This is -2% shorter than the same period one year ago.

    Warren's median square footage for active listings during the 2022-01-01 period was 1,413 sqft. One year prior, the average listing was 1,570 sqft.