Warren USDA Loans

WARREN-TROY-FARMINGTON HILLS, 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.

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.