Alma Mortgage Rates & Closing Costs

  • JUMP TO:
  • Trends
  • Rates vs. Fees
  • Top Lenders
  • Market Share
  • Market Conditions & Pricing
  • Time on Market/Property Size
  • Loan Attributes
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Alma averaged 7.25% for the week of 2024-04-18, compared to the national average of 7.1% for the same period.

    The average rate for the prior week (2024-04-11) was 7.03% and one month ago for the week of 2024-03-14, the average rate was 6.99%.

    Alma's average rate one year ago was 6.22%.

    For refis of the same type during the week of 2024-04-18, the average rate was 7.6%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-18 7.1%
    Alma 30 Year Fixed Rate 2024-04-18 7.25%
    Alma 30 Year Fixed Rate Refi 2024-04-18 7.6%
    Alma 15 Year Fixed Rate 2024-04-18 6.39%
    Alma 15 Year Fixed Rate Refi 2024-04-18 6.49%
    Alma 30 Year FHA 2024-04-18 6.86%
    Alma 30 Year FHA Refi 2024-04-18 6.86%
    Alma 30 Year USDA 2024-04-18 6.86%
    Alma 30 Year USDA Refi 2024-04-18 6.76%
    Alma 30 Year VA 2024-04-18 6.96%
    Alma 30 Year VA Refi 2024-04-18 6.56%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Alma, MI.

    Alma Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Alma, MI market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mercantile Bank of Michigan 26 6.64% $3,215
    QUICKEN LOANS, LLC 21 6.84% $5,268
    CROSSCOUNTRY MORTGAGE, LLC 12 6.74% $5,344
    UNITED WHOLESALE MORTGAGE, LLC 11 7.01% $4,975
    Isabella Bank 8 6.22% $2,343
    UNION HOME MORTGAGE CORP. 6 7.31% $4,557
    MMS MORTGAGE SERVICES, LTD. 6 6.48% $4,391
    The Huntington National Bank 6 7.10% $3,635
    ACADEMY MORTGAGE CORPORATION 6 7.17% $4,319
    Preston Home Loans Inc 5 7.22% $3,564
    MORTGAGE 1 INCORPORATED 5 7.20% $5,507
    BM Real Estate Services, Inc. 5 7.10% $4,794
    The Dart Bank 5 7.10% $3,243
    Fifth Third Bank 4 6.81% $2,849
    MICHIGAN ONE COMMUNITY Credit Union 3 7.08% $4,752
    JPMorgan Chase Bank 3 6.33% $2,439
    STAUNTON FINANCIAL, INC. 3 7.00% $3,313
    Neighborhood Loans, Inc. 3 6.75% $3,771
    Mr. Cooper ( Nationstar Mortgage ) 3 7.04% $5,652
    Flagstar Bank, FSB 3 7.03% $4,159
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 3 7.00% $3,030
    Independent Bank 3 6.83% $3,748
    LOANDEPOT.COM, LLC 2 7.18% $5,442
    CALIBER HOME LOANS, INC. 2 7.38% $4,112
    FIRST COMMUNITY MORTGAGE, INC. 2 6.69% $3,347
    Frankenmuth Credit Union 2 6.63% $2,570
    GUILD MORTGAGE COMPANY 2 6.50% $3,229
    MORTGAGE CENTER L.C 2 6.75% $3,198
    PFCU 2 6.88% $2,768
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.19% $4,923
    Horizon Bank 1 8.25% $3,086
    GUARANTEED RATE, INC. 1 6.99% $3,655
    GreenStone Farm Credit Services, FLCA 1 8.10% $4,667
    GENEVA FINANCIAL, LLC 1 7.88% $3,321
    VAN DYK MORTGAGE CORPORATION 1 7.38% $1,858
    First State Bank 1 5.99% $2,443
    Nations Lending Corporation 1 7.13% $4,116
    DOW CHEMICAL EMPLOYEES' 1 7.63% $2,129
    NORTHERN MORTGAGE SERVICES, LLC 1 6.62% $525
    Old National Bank 1 6.50% $3,873
    Wells Fargo Bank 1 6.88% $3,113
    PNC Bank 1 6.38% $8,059
    CONSUMERS 1 7.00% $2,696
    CHURCHILL MORTGAGE CORPORATION 1 6.13% $2,808
    RBC Bank, (Georgia) 1 5.63% $1,728
    Carrington Mortgage Services, LLC 1 7.25% $5,599
    ZILLOW HOME LOANS, LLC 1 7.38% $3,253
    CARDINAL FINANCIAL 1 8.13% $3,423
    BROKER SOLUTIONS, INC. 1 7.13% $6,488
    Ally Bank 1 5.75% $7,127
    Adventure Credit Union 1 5.88% $2,626
    LAKE MICHIGAN CREDIT UNION 1 7.13% $3,105
    MEMBER FIRST MORTGAGE, LLC 1 6.13% $4,199
    J. VIRGIL, INC. 1 7.50% $5,904

    Alma Average Closing Costs & Other Stats

    Alma, MI's 54 lenders originated 579 loans during 2023. The total origination value was $79,205,000, with an average loan value of $136,796.

    Alma's average closing costs are $3,863.

    The top Alma lender as defined by loan originations is Mercantile Bank of Michigan, with 26 loans originated. Their average total fees are $3,215, which is $2,052 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Alma lenders (with over 10 loans originated) are Mercantile Bank of Michigan ($3,215), UNITED WHOLESALE MORTGAGE, LLC ($4,975), QUICKEN LOANS, LLC ($5,268), CROSSCOUNTRY MORTGAGE, LLC ($5,344) and .

    The lowest rate Alma lenders (with over 10 loans originated) are Mercantile Bank of Michigan (6.64%), CROSSCOUNTRY MORTGAGE, LLC (6.74%), QUICKEN LOANS, LLC (6.84%), UNITED WHOLESALE MORTGAGE, LLC (7.01%) and .

    Alma, MI Mortgage Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    PNC Bank $100,000 $6,600,000 6,500.0% 8.3%
    QUICKEN LOANS, LLC $11,265,000 $6,505,000 -42.3% 8.2%
    Mercantile Bank of Michigan $9,400,000 $6,240,000 -33.6% 7.9%
    CROSSCOUNTRY MORTGAGE, LLC $1,795,000 $3,900,000 117.3% 4.9%
    The Huntington National Bank $3,985,000 $3,795,000 -4.8% 4.8%
    Isabella Bank $3,775,000 $3,710,000 -1.7% 4.7%
    Commercial Bank $7,380,000 $3,560,000 -51.8% 4.5%
    UNITED WHOLESALE MORTGAGE, LLC $1,920,000 $3,440,000 79.2% 4.3%
    ACADEMY MORTGAGE CORPORATION $3,240,000 $2,700,000 -16.7% 3.4%
    The Dart Bank $4,780,000 $2,365,000 -50.5% 3.0%
    GreenStone Farm Credit Services, FLCA $4,890,000 $2,175,000 -55.5% 2.7%
    Preston Home Loans Inc $655,000 $2,155,000 229.0% 2.7%
    BM Real Estate Services, Inc. $960,000 $1,915,000 99.5% 2.4%
    Mortgage Research Center, LLC $2,210,000 $1,560,000 -29.4% 2.0%
    MORTGAGE 1 INCORPORATED $1,460,000 $1,385,000 -5.1% 1.7%
    UNION HOME MORTGAGE CORP. $2,275,000 $1,355,000 -40.4% 1.7%
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $1,150,000 $1,170,000 1.7% 1.5%
    MMS MORTGAGE SERVICES, LTD. $1,105,000 $1,140,000 3.2% 1.4%
    Neighborhood Loans, Inc. $195,000 $1,070,000 448.7% 1.4%
    Independent Bank $760,000 $965,000 27.0% 1.2%
    Fifth Third Bank $930,000 $920,000 -1.1% 1.2%
    MICHIGAN ONE COMMUNITY Credit Union $1,815,000 $885,000 -51.2% 1.1%
    SUCCESS MORTGAGE PARTNERS, INC. $1,545,000 $815,000 -47.2% 1.0%
    Horizon Bank $205,000 $800,000 290.2% 1.0%
    PFCU $155,000 $645,000 316.1% 0.8%
    Flagstar Bank, FSB $1,345,000 $630,000 -53.2% 0.8%
    STAUNTON FINANCIAL, INC. $610,000 n/a 0.8%
    Old National Bank $605,000 n/a 0.8%
    LAKE MICHIGAN CREDIT UNION $715,000 $600,000 -16.1% 0.8%
    NAVY FEDERAL CREDIT UNION $125,000 $595,000 376.0% 0.8%
    LOANDEPOT.COM, LLC $450,000 $570,000 26.7% 0.7%
    MORTGAGE CENTER L.C $1,685,000 $565,000 -66.5% 0.7%
    PENNYMAC LOAN SERVICES, LLC $495,000 $530,000 7.1% 0.7%
    JPMorgan Chase Bank $335,000 $455,000 35.8% 0.6%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $410,000 $445,000 8.5% 0.6%
    Mr. Cooper ( Nationstar Mortgage ) $595,000 $430,000 -27.7% 0.5%
    CARDINAL FINANCIAL $1,145,000 $425,000 -62.9% 0.5%
    USAA Federal Savings Bank $685,000 $390,000 -43.1% 0.5%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $385,000 n/a 0.5%
    LOANPAL, LLC $115,000 $355,000 208.7% 0.4%
    Equity Prime Mortgage LLC $350,000 n/a 0.4%
    CALIBER HOME LOANS, INC. $390,000 $345,000 -11.5% 0.4%
    Quontic Bank $325,000 n/a 0.4%
    VAN DYK MORTGAGE CORPORATION $365,000 $300,000 -17.8% 0.4%
    21ST MORTGAGE CORPORATION $305,000 $275,000 -9.8% 0.3%
    MID AMERICA MORTGAGE, INC. $1,030,000 $270,000 -73.8% 0.3%
    FIRST COMMUNITY MORTGAGE, INC. $75,000 $260,000 246.7% 0.3%
    Northpointe Bank $255,000 n/a 0.3%
    NEW DAY FINANCIAL, LLC $840,000 $250,000 -70.2% 0.3%
    VILLAGE CAPITAL MORTGAGE $245,000 n/a 0.3%
    GUILD MORTGAGE COMPANY $235,000 n/a 0.3%
    Citizens Bank $315,000 $230,000 -27.0% 0.3%
    DOW CHEMICAL EMPLOYEES' $1,025,000 $220,000 -78.5% 0.3%
    PLAZA HOME MORTGAGE, INC. $135,000 $215,000 59.3% 0.3%
    Consumers Professional Credit Union $210,000 n/a 0.3%
    GENEVA FINANCIAL, LLC $300,000 $210,000 -30.0% 0.3%
    Bank of America $185,000 $195,000 5.4% 0.2%
    MEMBER FIRST MORTGAGE, LLC $705,000 $195,000 -72.3% 0.2%
    NORTHERN MORTGAGE SERVICES, LLC $295,000 $195,000 -33.9% 0.2%
    Carrington Mortgage Services, LLC $285,000 $190,000 -33.3% 0.2%
    MEMBERS FIRST Credit Union $530,000 $190,000 -64.2% 0.2%
    NEWREZ LLC $305,000 $185,000 -39.3% 0.2%
    BLG HOLDINGS, INC. $1,855,000 $175,000 -90.6% 0.2%
    Nations Lending Corporation $85,000 $175,000 105.9% 0.2%
    Platinum Home Mortgage Corporation $95,000 $175,000 84.2% 0.2%
    Northstar Bank $165,000 n/a 0.2%
    TRIAD FINANCIAL SERVICES, INC. $105,000 $165,000 57.1% 0.2%
    ZILLOW HOME LOANS, LLC $155,000 $165,000 6.5% 0.2%
    Frankenmuth Credit Union $1,285,000 $155,000 -87.9% 0.2%
    J. VIRGIL, INC. $790,000 $155,000 -80.4% 0.2%
    MICHIGAN FIRST CREDIT UNION $155,000 n/a 0.2%
    Ally Bank $135,000 $145,000 7.4% 0.2%
    AMERICAN PACIFIC MORTGAGE CORPORATION $145,000 n/a 0.2%
    TOP FLITE FINANCIAL, INC. $465,000 $145,000 -68.8% 0.2%
    FREEDOM MORTGAGE CORPORATION $875,000 $125,000 -85.7% 0.2%
    RUOFF MORTGAGE COMPANY, INC. $480,000 $125,000 -74.0% 0.2%
    CONSUMERS $710,000 $115,000 -83.8% 0.1%
    RBC Bank, (Georgia) $115,000 n/a 0.1%
    LAFCU $330,000 $110,000 -66.7% 0.1%
    BROKER SOLUTIONS, INC. $865,000 $105,000 -87.9% 0.1%
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $105,000 n/a 0.1%
    GUARANTEED RATE, INC. $105,000 n/a 0.1%
    JOLT CREDIT UNION $470,000 $105,000 -77.7% 0.1%
    LEGEND LENDING CORPORATION $355,000 $105,000 -70.4% 0.1%
    MICHIGAN SCHOOLS AND GOVERNMENT $105,000 n/a 0.1%
    RELIANCE FIRST CAPITAL, LLC $105,000 n/a 0.1%
    AMERICAN FINANCIAL RESOURCES, INC. $165,000 $95,000 -42.4% 0.1%
    CREDIT UNION ONE $60,000 $90,000 50.0% 0.1%
    Adventure Credit Union $25,000 $85,000 240.0% 0.1%
    CHURCHILL MORTGAGE CORPORATION $105,000 $85,000 -19.0% 0.1%
    TEAM ONE CREDIT UNION $85,000 n/a 0.1%
    Wells Fargo Bank $750,000 $85,000 -88.7% 0.1%
    Sidney State Bank $310,000 $80,000 -74.2% 0.1%
    1st State Financial, Ltd. $75,000 $75,000 0.0% 0.1%
    Deere Employees Credit Union $75,000 n/a 0.1%
    FINANCIAL PLUS CREDIT UNION $35,000 $75,000 114.3% 0.1%
    First State Bank $75,000 n/a 0.1%
    ALLIANT CREDIT UNION $55,000 n/a 0.1%
    Coastal Community Bank $55,000 n/a 0.1%
    Figure Lending LLC $35,000 $50,000 42.9% 0.1%
    Lakeview Community Capital, LLC $45,000 n/a 0.1%
    ASTERA $25,000 $35,000 40.0% 0.0%
    GENISYS $260,000 $25,000 -90.4% 0.0%
    Lake Trust Credit Union $115,000 $25,000 -78.3% 0.0%
    Meijer Credit Union $25,000 n/a 0.0%

    Alma's top lender by overall market share is PNC Bank, with 8.3% market share. In second place, with 8.2%, is QUICKEN LOANS, LLC, having originated $6,505,000 in loans. In third place, with 7.9%, is Mercantile Bank of Michigan, having originated $6,240,000 in loans. In fourth place, with 4.9%, is CROSSCOUNTRY MORTGAGE, LLC, having originated $3,900,000 in loans. In fifth place, with 4.8%, is The Huntington National Bank, having originated $3,795,000 in loans.

    Alma Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Alma (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 $87,400 (-12.5%) $112,982 (-10.1%) 0.00 135
    2018-02-01 $84,675 (-15.2%) $114,882 (-6.0%) 0.00 132
    2018-03-01 $82,450 (-17.4%) $115,176 (-9.6%) 0.00 141
    2018-04-01 $84,450 (-16.8%) $115,644 (-10.4%) 0.00 141
    2018-05-01 $89,075 (-10.8%) $126,365 (-1.7%) 0.00 146
    2018-06-01 $94,900 (-3.7%) $135,945 (5.6%) 0.00 153
    2018-07-01 $97,175 (-1.8%) $134,250 (4.3%) 0.00 163
    2018-08-01 $105,000 (5.1%) $145,598 (12.3%) 0.00 161
    2018-09-01 $105,000 (3.5%) $143,891 (10.7%) 0.00 154
    2018-10-01 $102,450 (2.6%) $145,120 (14.1%) 0.00 156
    2018-11-01 $97,125 (6.2%) $133,685 (9.5%) 0.00 154
    2018-12-01 $88,900 (-1.1%) $126,798 (10.5%) 0.00 146
    2019-01-01 $88,800 (1.6%) $127,448 (12.8%) 0.00 136
    2019-02-01 $87,450 (3.3%) $127,097 (10.6%) 0.00 130
    2019-03-01 $89,386 (8.4%) $122,859 (6.7%) 0.00 128
    2019-04-01 $96,900 (14.7%) $128,434 (11.1%) 0.00 133
    2019-05-01 $98,100 (10.1%) $131,239 (3.9%) 0.00 129
    2019-06-01 $99,900 (5.3%) $136,844 (0.7%) 0.00 135
    2019-07-01 $99,900 (2.8%) $130,959 (-2.5%) 0.00 132
    2019-08-01 $108,518 (3.4%) $131,768 (-9.5%) 0.00 129
    2019-09-01 $109,295 (4.1%) $128,884 (-10.4%) 0.00 130
    2019-10-01 $112,663 (10.0%) $129,346 (-10.9%) 0.00 118
    2019-11-01 $107,400 (10.6%) $130,701 (-2.2%) 0.00 91
    2019-12-01 $134,975 (51.8%) $143,449 (13.1%) 0.00 81
    2020-01-01 $119,900 (35.0%) $134,833 (5.8%) 0.00 79
    2020-02-01 $119,900 (37.1%) $133,035 (4.7%) 0.00 81
    2020-03-01 $110,700 (23.9%) $134,974 (9.9%) 0.00 72
    2020-04-01 $119,900 (23.7%) $141,375 (10.1%) 0.00 66
    2020-05-01 $114,900 (17.1%) $141,888 (8.1%) 0.00 66
    2020-06-01 $146,175 (46.3%) $158,947 (16.2%) 0.00 57
    2020-07-01 $136,850 (37.0%) $165,997 (26.8%) 0.00 58
    2020-08-01 $119,900 (10.5%) $153,905 (16.8%) 0.00 63
    2020-09-01 $129,900 (18.9%) $181,538 (40.9%) 0.00 55
    2020-10-01 $129,900 (15.3%) $178,078 (37.7%) 0.00 60
    2020-11-01 $127,600 (18.8%) $170,360 (30.3%) 0.00 66
    2020-12-01 $124,900 (-7.5%) $171,917 (19.9%) 0.00 61
    2021-01-01 $124,900 (4.2%) $163,026 (20.9%) 0.00 54
    2021-02-01 $124,900 (4.2%) $174,144 (30.9%) 0.00 35
    2021-03-01 $131,200 (18.5%) $191,583 (41.9%) 0.00 35
    2021-04-01 $133,950 (11.7%) $189,522 (34.1%) 0.00 30
    2021-05-01 $149,900 (30.5%) $195,946 (38.1%) 0.00 35
    2021-06-01 $176,400 (20.7%) $198,816 (25.1%) 0.00 43
    2021-07-01 $162,400 (18.7%) $200,908 (21.0%) 0.00 52
    2021-08-01 $161,250 (34.5%) $200,269 (30.1%) 0.00 65
    2021-09-01 $141,800 (9.2%) $190,094 (4.7%) 0.00 74
    2021-10-01 $134,950 (3.9%) $186,481 (4.7%) 0.00 72
    2021-11-01 $129,575 (1.6%) $177,121 (4.0%) 0.00 62
    2021-12-01 $135,175 (8.2%) $192,178 (11.8%) 0.00 48
    2022-01-01 $169,000 (35.3%) $219,647 (34.7%) 0.00 43
    2022-02-01 $147,500 (18.1%) $204,086 (17.2%) 0.00 35
    2022-03-01 $165,925 (26.5%) $218,142 (13.9%) 0.00 33
    2022-04-01 $149,900 (11.9%) $193,808 (2.3%) 0.00 45
    2022-05-01 $159,875 (6.7%) $207,162 (5.7%) 0.00 51
    2022-06-01 $164,925 (-6.5%) $227,682 (14.5%) 0.00 53
    2022-07-01 $179,900 (10.8%) $246,127 (22.5%) 0.00 60
    2022-08-01 $182,450 (13.2%) $245,149 (22.4%) 0.00 71
    2022-09-01 $167,200 (17.9%) $227,328 (19.6%) 0.00 76
    2022-10-01 $167,000 (23.8%) $224,329 (20.3%) 0.00 78
    2022-11-01 $169,925 (31.1%) $222,608 (25.7%) 0.00 87
    2022-12-01 $155,500 (15.0%) $206,296 (7.4%) 0.00 73
    2023-01-01 $149,675 (-11.4%) $214,139 (-2.5%) 0.00 62
    2023-02-01 $160,000 (8.5%) $218,497 (7.1%) 0.00 46
    2023-03-01 $170,675 (2.9%) $226,207 (3.7%) 0.00 42
    2023-04-01 $169,850 (13.3%) $215,092 (11.0%) 0.00 33
    2023-05-01 $219,475 (37.3%) $256,208 (23.7%) 0.00 35
    2023-06-01 $210,975 (27.9%) $264,729 (16.3%) 0.00 35
    2023-07-01 $199,000 (10.6%) $259,304 (5.4%) 0.00 41
    2023-08-01 $185,950 (1.9%) $242,994 (-0.9%) 0.00 49
    2023-09-01 $182,000 (8.9%) $228,094 (0.3%) 0.00 48
    2023-10-01 $184,000 (10.2%) $219,045 (-2.4%) 0.00 58
    2023-11-01 $183,000 (7.7%) $226,233 (1.6%) 0.00 68
    2023-12-01 $179,000 (15.1%) $220,125 (6.7%) 0.00 53
    2024-01-01 $177,800 (18.8%) $222,336 (3.8%) 0.00 45
    2024-02-01 $169,500 (5.9%) $215,988 (-1.2%) 0.00 46
    2024-03-01 $180,000 (5.5%) $230,466 (1.9%) 0.00 48
    Alma's median listing price for 2024-03-01 was $180,000, a difference of $9,325 (5.5%) versus the prior year and $10,500 versus the prior month.

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

    Alma's average listing price for 2024-03-01 was $230,466, a difference of $4,259 (1.9%) versus the prior year and $14,478 versus the prior month.

    For the 2024-03-01 period, Alma had 48 MLS listings, a difference of 2 listings (4%) versus the prior month and 6 listings (14%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Alma (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,523 sqft
    2018-02-01 0 days 1,512 sqft
    2018-03-01 0 days 1,460 sqft
    2018-04-01 0 days 1,454 sqft
    2018-05-01 0 days 1,479 sqft
    2018-06-01 0 days 1,506 sqft
    2018-07-01 0 days 1,546 sqft
    2018-08-01 0 days 1,562 sqft
    2018-09-01 0 days 1,557 sqft
    2018-10-01 0 days 1,579 sqft
    2018-11-01 0 days 1,500 sqft
    2018-12-01 0 days 1,450 sqft
    2019-01-01 0 days 1,450 sqft
    2019-02-01 0 days 1,473 sqft
    2019-03-01 0 days 1,471 sqft
    2019-04-01 0 days 1,499 sqft
    2019-05-01 0 days 1,507 sqft
    2019-06-01 0 days 1,612 sqft
    2019-07-01 0 days 1,600 sqft
    2019-08-01 0 days 1,568 sqft
    2019-09-01 0 days 1,558 sqft
    2019-10-01 0 days 1,579 sqft
    2019-11-01 0 days 1,600 sqft
    2019-12-01 0 days 1,760 sqft
    2020-01-01 0 days 1,736 sqft
    2020-02-01 0 days 1,702 sqft
    2020-03-01 0 days 1,576 sqft
    2020-04-01 0 days 1,653 sqft
    2020-05-01 0 days 1,569 sqft
    2020-06-01 0 days 1,775 sqft
    2020-07-01 0 days 1,703 sqft
    2020-08-01 0 days 1,680 sqft
    2020-09-01 0 days 1,708 sqft
    2020-10-01 0 days 1,660 sqft
    2020-11-01 0 days 1,653 sqft
    2020-12-01 0 days 1,600 sqft
    2021-01-01 0 days 1,570 sqft
    2021-02-01 0 days 1,511 sqft
    2021-03-01 0 days 1,509 sqft
    2021-04-01 0 days 1,593 sqft
    2021-05-01 0 days 1,726 sqft
    2021-06-01 0 days 1,728 sqft
    2021-07-01 0 days 1,749 sqft
    2021-08-01 0 days 1,590 sqft
    2021-09-01 0 days 1,536 sqft
    2021-10-01 0 days 1,552 sqft
    2021-11-01 0 days 1,458 sqft
    2021-12-01 0 days 1,458 sqft
    2022-01-01 0 days 1,633 sqft
    2022-02-01 0 days 1,566 sqft
    2022-03-01 0 days 1,601 sqft
    2022-04-01 0 days 1,604 sqft
    2022-05-01 0 days 1,642 sqft
    2022-06-01 0 days 1,657 sqft
    2022-07-01 0 days 1,681 sqft
    2022-08-01 0 days 1,708 sqft
    2022-09-01 0 days 1,654 sqft
    2022-10-01 0 days 1,669 sqft
    2022-11-01 0 days 1,716 sqft
    2022-12-01 0 days 1,653 sqft
    2023-01-01 0 days 1,612 sqft
    2023-02-01 0 days 1,614 sqft
    2023-03-01 0 days 1,477 sqft
    2023-04-01 0 days 1,573 sqft
    2023-05-01 0 days 1,805 sqft
    2023-06-01 0 days 1,853 sqft
    2023-07-01 0 days 1,878 sqft
    2023-08-01 0 days 1,771 sqft
    2023-09-01 0 days 1,690 sqft
    2023-10-01 0 days 1,758 sqft
    2023-11-01 0 days 1,844 sqft
    2023-12-01 0 days 1,860 sqft
    2024-01-01 0 days 1,791 sqft
    2024-02-01 0 days 1,752 sqft
    2024-03-01 0 days 1,755 sqft
    Alma's median listing age (time on market) for 2024-03-01 was 0 days.

    Alma's median square footage for active listings during the 2024-03-01 period was 1,755 sqft. One year prior, the average listing was 1,477 sqft.

    Alma, MI Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 355 $54,175,000 $152,606
    Cash Out Refi 72 $8,130,000 $112,917
    Home Improvement 61 $3,335,000 $54,672
    Other 61 $3,635,000 $59,590
    Refi 30 $9,930,000 $331,000

    Alma's most frequently cited loan purpose was Home Purchase, with 355 originations. The 2nd most popular reason was Cash Out Refi, with 72 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 213 $30,335,000 $142,418
    7-8% 155 $22,125,000 $142,742
    Over 8% 105 $6,485,000 $61,762
    5-6% 57 $14,865,000 $260,789
    <2.5% 6 $40,000 $6,667
    4-5% 2 $360,000 $180,000

    During 2023, Alma's most frequently originated rate bucket was 6-7%, with 213 originations.

    Loan Sizing (Alma, MI MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 255 $13,945,000 $54,686
    $100k-200k 242 $34,420,000 $142,231
    $200k-400k 68 $17,900,000 $263,235
    $400k-600k 10 $4,580,000 $458,000
    $600k-1000k 3 $1,995,000 $665,000
    $Over $1MM 1 $6,365,000 $6,365,000

    Alma's loan sizing saw the bucket of loans from $100,000 or less with 255 originations, totaling $13,945,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 262 $42,370,000 $161,718
    60-80% 82 $12,440,000 $151,707
    Under 20% 69 $2,025,000 $29,348
    20-40% 66 $3,870,000 $58,636
    40-60% 50 $12,130,000 $242,600
    Over 100% 5 $1,075,000 $215,000

    Alma's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 262 originations, totaling $42,370,000 in origination value.