Ludington Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Ludington averaged 7.35% for the week of 2023-09-21, compared to the national average of 7.19% for the same period.

The average rate for the prior week (2023-09-14) was 7.24% and one month ago for the week of 2023-08-17, the average rate was 7.25%.

Ludington's average rate one year ago was 5.98%.

For refis of the same type during the week of 2023-09-21, the average rate was 7.79%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-09-21 7.19%
Ludington 30 Year Fixed Rate 2023-09-21 7.35%
Ludington 30 Year Fixed Rate Refi 2023-09-21 7.79%
Ludington 15 Year Fixed Rate 2023-09-21 6.74%
Ludington 15 Year Fixed Rate Refi 2023-09-21 6.54%
Ludington 30 Year FHA 2023-09-21 7.04%
Ludington 30 Year FHA Refi 2023-09-21 7.04%
Ludington 30 Year USDA 2023-09-21 7.12%
Ludington 30 Year USDA Refi 2023-09-21 7.22%
Ludington 30 Year VA 2023-09-21 6.62%
Ludington 30 Year VA Refi 2023-09-21 6.72%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Ludington, MI.

Ludington 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 Ludington, 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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 26 5.23% $6,556
MORTGAGE 1 INCORPORATED 23 5.32% $4,592
LAKE MICHIGAN CREDIT UNION 16 4.59% $3,572
Fifth Third Bank 12 4.47% $2,790
The Huntington National Bank 10 4.96% $3,858
CALIBER HOME LOANS, INC. 8 5.40% $4,947
Neighborhood Loans, Inc. 7 4.89% $4,422
UNITED WHOLESALE MORTGAGE, LLC 6 5.37% $5,339
J. VIRGIL, INC. 6 5.94% $5,132
Nations Lending Corporation 6 5.52% $6,154
PREFERRED CREDIT UNION 5 4.08% $3,166
Mercantile Bank of Michigan 5 5.25% $3,153
CONSUMERS 4 5.97% $2,786
Wells Fargo Bank 4 4.47% $4,089
JPMorgan Chase Bank 4 4.75% $6,795
Independent Bank 3 5.38% $3,732
PNC Bank 3 5.17% $4,900
Wildfire Credit Union 2 4.69% $2,284
BETTER MORTGAGE CORPORATION 2 4.75% $3,789
DFCU FINANCIAL 2 3.31% $6,854
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.31% $5,619
GENISYS 2 4.31% $2,389
LEGEND LENDING CORPORATION 2 6.44% $3,492
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 2 6.06% $4,277
MID AMERICA MORTGAGE, INC. 2 5.88% $5,873
NAVY FEDERAL CREDIT UNION 2 6.50% $2,151
Northpointe Bank 2 3.94% $9,228
PLAZA HOME MORTGAGE, INC. 2 4.63% $3,869
The Dart Bank 2 4.56% $3,269
AMERIFIRST FINANCIAL CORPORATION 1 6.13% $5,232
LOANDEPOT.COM, LLC 1 5.88% $4,905
DOW CHEMICAL EMPLOYEES' 1 6.50% $2,256
The State Bank 1 3.25% $2,666
UMB Bank 1 4.69% $2,517
Dort Financial Credit Union 1 3.63% $2,553
MOVEMENT MORTGAGE, LLC 1 5.44% $3,348
Mr. Cooper ( Nationstar Mortgage ) 1 5.49% $7,754
Directions Credit Union, Inc. 1 6.00% $2,254
American Mortgage & Equity Consultants, Inc. 1 4.87% $3,035
ChoiceOne Bank 1 7.38% $2,274
NORTHERN MORTGAGE SERVICES, LLC 1 7.13% $5,136
UNIVERSITY LENDING GROUP, LLC 1 3.75% $6,349
AMERICAN FINANCING CORPORATION 1 4.38% $4,031
BNY Mellon 1 2.75% $3,768
POLARIS HOME FUNDING CORP. 1 5.88% $6,891
Bank of Ann Arbor 1 3.88% $2,509
Bank of America 1 2.50% $4,890
RELIANCE FIRST CAPITAL, LLC 1 5.88% $8,831
ROYAL UNITED MORTGAGE LLC 1 4.13% $6,719
RUOFF MORTGAGE COMPANY, INC. 1 5.25% $2,590
STAR Financial Bank 1 4.50% $4,969
STAR ONE CREDIT UNION 1 6.25% $3,325
SUCCESS MORTGAGE PARTNERS, INC. 1 6.50% $3,315
Ally Bank 1 6.00% $2,869
Honor Credit Union 1 4.25% $2,869
Hometown Lenders, Inc. 1 5.37% $3,215
INLANTA MORTGAGE, INC. 1 7.63% $7,623
GreenStone Farm Credit Services, FLCA 1 6.65% $4,386
Flagstar Bank, FSB 1 3.38% $2,173
KeyBank 1 5.50% $3,026
FINANCE OF AMERICA MORTGAGE LLC 1 4.38% $4,652

Ludington Average Closing Costs & Other Stats

Ludington, MI's 61 lenders originated 553 loans during 2022. The total origination value was $97,065,000, with an average loan value of $175,524.

Ludington's average closing costs are $4,106.

The top Ludington lender as defined by loan originations is QUICKEN LOANS, LLC, with 26 loans originated. Their average total fees are $6,556, which is $1,964 higher than the next largest lender, MORTGAGE 1 INCORPORATED.

The lowest fee Ludington lenders (with over 10 loans originated) are Fifth Third Bank ($2,790), LAKE MICHIGAN CREDIT UNION ($3,572), The Huntington National Bank ($3,858), MORTGAGE 1 INCORPORATED ($4,592) and QUICKEN LOANS, LLC ($6,556).

The lowest rate Ludington lenders (with over 10 loans originated) are Fifth Third Bank (4.47%), LAKE MICHIGAN CREDIT UNION (4.59%), The Huntington National Bank (4.96%), QUICKEN LOANS, LLC (5.23%) and MORTGAGE 1 INCORPORATED (5.32%).

Ludington, 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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
QUICKEN LOANS, LLC $22,580,000 $9,770,000 -56.7% 10.1%
LAKE MICHIGAN CREDIT UNION $10,825,000 $8,435,000 -22.1% 8.7%
MORTGAGE 1 INCORPORATED $12,390,000 $7,950,000 -35.8% 8.2%
The Huntington National Bank $9,080,000 $7,235,000 -20.3% 7.5%
Fifth Third Bank $8,790,000 $6,830,000 -22.3% 7.0%
PNC Bank $4,250,000 $3,790,000 -10.8% 3.9%
The Shelby State Bank $3,560,000 $2,490,000 -30.1% 2.6%
Mercantile Bank of Michigan $2,750,000 $2,240,000 -18.5% 2.3%
Neighborhood Loans, Inc. $990,000 $2,120,000 114.1% 2.2%
PREFERRED CREDIT UNION $6,785,000 $2,030,000 -70.1% 2.1%
Mortgage Research Center, LLC $1,800,000 $1,875,000 4.2% 1.9%
JPMorgan Chase Bank $1,730,000 $1,540,000 -11.0% 1.6%
J. VIRGIL, INC. $650,000 $1,540,000 136.9% 1.6%
Independent Bank $3,710,000 $1,450,000 -60.9% 1.5%
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $710,000 $1,450,000 104.2% 1.5%
CALIBER HOME LOANS, INC. $845,000 $1,420,000 68.0% 1.5%
Northpointe Bank $310,000 $1,390,000 348.4% 1.4%
Nations Lending Corporation $650,000 $1,370,000 110.8% 1.4%
UNITED WHOLESALE MORTGAGE, LLC $3,875,000 $1,270,000 -67.2% 1.3%
CONSUMERS $1,145,000 $1,040,000 -9.2% 1.1%
The Dart Bank $420,000 $1,035,000 146.4% 1.1%
LOANDEPOT.COM, LLC $1,070,000 $915,000 -14.5% 0.9%
CROSSCOUNTRY MORTGAGE, LLC $205,000 $885,000 331.7% 0.9%
Honor Credit Union $15,000 $830,000 5,433.3% 0.9%
SUCCESS MORTGAGE PARTNERS, INC. $410,000 $830,000 102.4% 0.9%
NAVY FEDERAL CREDIT UNION $780,000 $820,000 5.1% 0.8%
Wells Fargo Bank $1,185,000 $815,000 -31.2% 0.8%
GreenStone Farm Credit Services, FLCA $2,075,000 $775,000 -62.7% 0.8%
TRIAD FINANCIAL SERVICES, INC. $860,000 $775,000 -9.9% 0.8%
DFCU FINANCIAL $125,000 $740,000 492.0% 0.8%
Citizens Bank $485,000 $730,000 50.5% 0.8%
Bank of America $1,070,000 $710,000 -33.6% 0.7%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $425,000 $660,000 55.3% 0.7%
PLAZA HOME MORTGAGE, INC. $655,000 n/a 0.7%
AMERIFIRST FINANCIAL CORPORATION $1,555,000 $650,000 -58.2% 0.7%
Macatawa Bank $620,000 n/a 0.6%
United Bank of Michigan $265,000 $605,000 128.3% 0.6%
UMB Bank $595,000 n/a 0.6%
GENISYS $125,000 $585,000 368.0% 0.6%
STAR Financial Bank $565,000 n/a 0.6%
Chicago Mortgage Solutions LLC $215,000 $540,000 151.2% 0.6%
FREEDOM MORTGAGE CORPORATION $1,885,000 $495,000 -73.7% 0.5%
FINANCE OF AMERICA MORTGAGE LLC $465,000 n/a 0.5%
Flagstar Bank, FSB $770,000 $455,000 -40.9% 0.5%
GUARANTEED RATE, INC. $555,000 $445,000 -19.8% 0.5%
VAN DYK MORTGAGE CORPORATION $400,000 n/a 0.4%
NEW DAY FINANCIAL, LLC $390,000 $390,000 0.0% 0.4%
West Michigan Community Bank $250,000 $385,000 54.0% 0.4%
TOWNE MORTGAGE COMPANY $380,000 n/a 0.4%
BNY Mellon $375,000 n/a 0.4%
MID AMERICA MORTGAGE, INC. $375,000 n/a 0.4%
Mr. Cooper ( Nationstar Mortgage ) $790,000 $355,000 -55.1% 0.4%
MOVEMENT MORTGAGE, LLC $335,000 n/a 0.3%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $600,000 $325,000 -45.8% 0.3%
KeyBank $185,000 $320,000 73.0% 0.3%
Wildfire Credit Union $320,000 n/a 0.3%
INLANTA MORTGAGE, INC. $460,000 $295,000 -35.9% 0.3%
STAR ONE CREDIT UNION $275,000 n/a 0.3%
PHH Mortgage Corporation $270,000 n/a 0.3%
RELIANCE FIRST CAPITAL, LLC $105,000 $265,000 152.4% 0.3%
21ST MORTGAGE CORPORATION $1,125,000 $250,000 -77.8% 0.3%
RUOFF MORTGAGE COMPANY, INC. $245,000 n/a 0.3%
AMERISAVE MORTGAGE CORPORATION $800,000 $235,000 -70.6% 0.2%
DOW CHEMICAL EMPLOYEES' $235,000 n/a 0.2%
BETTER MORTGAGE CORPORATION $1,080,000 $230,000 -78.7% 0.2%
Adventure Credit Union $735,000 $225,000 -69.4% 0.2%
Bank of Ann Arbor $225,000 n/a 0.2%
BROKER SOLUTIONS, INC. $505,000 $225,000 -55.4% 0.2%
ChoiceOne Bank $905,000 $225,000 -75.1% 0.2%
Directions Credit Union, Inc. $215,000 n/a 0.2%
Figure Lending LLC $45,000 $215,000 377.8% 0.2%
Guardian Savings Bank, A Federal Savings Bank $205,000 n/a 0.2%
NORTHERN MORTGAGE SERVICES, LLC $205,000 n/a 0.2%
PENNYMAC LOAN SERVICES, LLC $1,410,000 $205,000 -85.5% 0.2%
USAA Federal Savings Bank $240,000 $200,000 -16.7% 0.2%
POLARIS HOME FUNDING CORP. $195,000 n/a 0.2%
Ally Bank $335,000 $185,000 -44.8% 0.2%
Dort Financial Credit Union $260,000 $185,000 -28.8% 0.2%
AmeriHome Mortgage Company, LLC $175,000 n/a 0.2%
Horizon Bank $175,000 n/a 0.2%
LAKEVIEW LOAN SERVICING, LLC $430,000 $165,000 -61.6% 0.2%
UNIVERSITY LENDING GROUP, LLC $285,000 $165,000 -42.1% 0.2%
LEGEND LENDING CORPORATION $150,000 n/a 0.2%
RESIDENTIAL BANCORP. $65,000 $145,000 123.1% 0.1%
SUN WEST MORTGAGE COMPANY, INC. $145,000 n/a 0.1%
AMERICAN FINANCING CORPORATION $205,000 $140,000 -31.7% 0.1%
American Mortgage & Equity Consultants, Inc. $690,000 $135,000 -80.4% 0.1%
The State Bank $325,000 $135,000 -58.5% 0.1%
HOMEBRIDGE FINANCIAL SERVICES, INC. $125,000 n/a 0.1%
BMO Harris Bank $115,000 n/a 0.1%
CREDIT UNION ONE $685,000 $110,000 -83.9% 0.1%
Carrington Mortgage Services, LLC $105,000 $105,000 0.0% 0.1%
PURDUE FEDERAL CREDIT UNION $105,000 n/a 0.1%
MMS MORTGAGE SERVICES, LTD. $95,000 n/a 0.1%
ADVIA $85,000 n/a 0.1%
Hometown Lenders, Inc. $75,000 n/a 0.1%
NUMARK CREDIT UNION $75,000 n/a 0.1%
ROYAL UNITED MORTGAGE LLC $75,000 $75,000 0.0% 0.1%
ARBOR FINANCIAL CREDIT UNION $105,000 $65,000 -38.1% 0.1%
MORIA DEVELOPMENT, INC. $65,000 n/a 0.1%
AAC Credit Union $45,000 n/a 0.0%
SPRING EQ, LLC $45,000 n/a 0.0%
Centier Bank $35,000 n/a 0.0%
Meijer Credit Union $25,000 n/a 0.0%
COMMUNITY CHOICE CREDIT UNION $55,000 $15,000 -72.7% 0.0%
Home Loan Investment Bank, F.S.B. $15,000 n/a 0.0%

Ludington's top lender by overall market share is QUICKEN LOANS, LLC, with 10.1% market share. In second place, with 8.7%, is LAKE MICHIGAN CREDIT UNION, having originated $8,435,000 in loans. In third place, with 8.2%, is MORTGAGE 1 INCORPORATED, having originated $7,950,000 in loans. In fourth place, with 7.5%, is The Huntington National Bank, having originated $7,235,000 in loans. In fifth place, with 7.0%, is Fifth Third Bank, having originated $6,830,000 in loans.


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

Realtor.com - Ludington (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 $192,950 (19.3%) $283,324 (7.3%) 0.00 159
2018-02-01 $189,900 (8.2%) $273,913 (-0.8%) 0.00 157
2018-03-01 $189,900 (7.5%) $273,751 (1.5%) 0.00 146
2018-04-01 $199,900 (24.9%) $278,902 (8.7%) 0.00 161
2018-05-01 $199,900 (16.9%) $287,104 (12.2%) 0.00 169
2018-06-01 $212,500 (18.1%) $300,738 (12.4%) 0.00 196
2018-07-01 $214,975 (19.8%) $303,928 (15.1%) 0.00 207
2018-08-01 $213,500 (22.1%) $299,790 (12.5%) 0.00 201
2018-09-01 $199,900 (14.9%) $293,112 (7.2%) 0.00 200
2018-10-01 $199,400 (11.0%) $282,495 (2.0%) 0.00 192
2018-11-01 $192,425 (-1.3%) $276,325 (1.0%) 0.00 183
2018-12-01 $182,400 (-4.0%) $276,735 (-1.5%) 0.00 162
2019-01-01 $182,425 (-5.5%) $273,911 (-3.3%) 0.00 151
2019-02-01 $182,425 (-3.9%) $275,393 (0.5%) 0.00 146
2019-03-01 $191,329 (0.8%) $280,582 (2.5%) 0.00 144
2019-04-01 $195,379 (-2.3%) $280,745 (0.7%) 0.00 149
2019-05-01 $194,900 (-2.5%) $267,053 (-7.0%) 0.00 165
2019-06-01 $215,000 (1.2%) $271,758 (-9.6%) 0.00 176
2019-07-01 $229,000 (6.5%) $285,115 (-6.2%) 0.00 196
2019-08-01 $225,845 (5.8%) $288,126 (-3.9%) 0.00 197
2019-09-01 $231,839 (16.0%) $292,065 (-0.4%) 0.00 195
2019-10-01 $236,500 (18.6%) $296,316 (4.9%) 0.00 194
2019-11-01 $211,500 (9.9%) $286,619 (3.7%) 0.00 187
2019-12-01 $222,000 (21.7%) $289,737 (4.7%) 0.00 171
2020-01-01 $226,225 (24.0%) $286,277 (4.5%) 0.00 148
2020-02-01 $225,000 (23.3%) $272,774 (-1.0%) 0.00 141
2020-03-01 $236,500 (23.6%) $283,315 (1.0%) 0.00 137
2020-04-01 $235,500 (20.5%) $284,463 (1.3%) 0.00 131
2020-05-01 $236,500 (21.3%) $281,137 (5.3%) 0.00 149
2020-06-01 $232,000 (7.9%) $290,200 (6.8%) 0.00 147
2020-07-01 $246,925 (7.8%) $312,841 (9.7%) 0.00 134
2020-08-01 $249,000 (10.3%) $339,131 (17.7%) 0.00 108
2020-09-01 $241,500 (4.2%) $337,030 (15.4%) 0.00 94
2020-10-01 $215,000 (-9.1%) $323,689 (9.2%) 0.00 86
2020-11-01 $219,225 (3.7%) $322,046 (12.4%) 0.00 81
2020-12-01 $224,225 (1.0%) $323,623 (11.7%) 0.00 71
2021-01-01 $244,900 (8.3%) $324,436 (13.3%) 0.00 54
2021-02-01 $272,450 (21.1%) $354,514 (30.0%) 0.00 48
2021-03-01 $280,100 (18.4%) $368,242 (30.0%) 0.00 41
2021-04-01 $299,000 (27.0%) $421,345 (48.1%) 0.00 56
2021-05-01 $299,000 (26.4%) $377,554 (34.3%) 0.00 59
2021-06-01 $296,500 (27.8%) $386,676 (33.2%) 0.00 70
2021-07-01 $295,000 (19.5%) $372,867 (19.2%) 0.00 68
2021-08-01 $299,725 (20.4%) $378,634 (11.7%) 0.00 67
2021-09-01 $281,975 (16.8%) $359,984 (6.8%) 0.00 67
2021-10-01 $279,000 (29.8%) $341,925 (5.6%) 0.00 65
2021-11-01 $277,000 (26.4%) $401,636 (24.7%) 0.00 52
2021-12-01 $282,000 (25.8%) $397,551 (22.8%) 0.00 55
2022-01-01 $342,000 (39.7%) $452,597 (39.5%) 0.00 44
2022-02-01 $360,000 (32.1%) $475,940 (34.3%) 0.00 36
2022-03-01 $335,950 (19.9%) $465,191 (26.3%) 0.00 33
2022-04-01 $337,000 (12.7%) $466,554 (10.7%) 0.00 35
2022-05-01 $397,500 (32.9%) $457,415 (21.2%) 0.00 51
2022-06-01 $376,000 (26.8%) $439,483 (13.7%) 0.00 55
2022-07-01 $289,900 (-1.7%) $384,348 (3.1%) 0.00 67
2022-08-01 $286,675 (-4.4%) $384,896 (1.7%) 0.00 79
2022-09-01 $288,725 (2.4%) $389,723 (8.3%) 0.00 78
2022-10-01 $262,450 (-5.9%) $382,374 (11.8%) 0.00 81
2022-11-01 $280,000 (1.1%) $391,989 (-2.4%) 0.00 73
2022-12-01 $259,000 (-8.2%) $373,986 (-5.9%) 0.00 60
2023-01-01 $236,175 (-30.9%) $375,919 (-16.9%) 0.00 47
2023-02-01 $229,850 (-36.2%) $375,917 (-21.0%) 0.00 36
2023-03-01 $235,950 (-29.8%) $385,323 (-17.2%) 0.00 32
2023-04-01 $289,900 (-14.0%) $375,418 (-19.5%) 0.00 31
2023-05-01 $287,000 (-27.8%) $411,757 (-10.0%) 0.00 40
2023-06-01 $287,000 (-23.7%) $401,862 (-8.6%) 0.00 44
2023-07-01 $304,500 (5.0%) $432,436 (12.5%) 0.00 45
2023-08-01 $296,900 (3.6%) $422,917 (9.9%) 0.00 52
Ludington's median listing price for 2023-08-01 was $296,900, a difference of $10,225 (3.6%) versus the prior year and $-7,600 versus the prior month.

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

Ludington's average listing price for 2023-08-01 was $422,917, a difference of $38,021 (9.9%) versus the prior year and $-9,519 versus the prior month.

For the 2023-08-01 period, Ludington had 52 MLS listings, a difference of 7 listings (16%) versus the prior month and -27 listings (-34%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Ludington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,778 sqft
2018-02-01 0 days 1,744 sqft
2018-03-01 0 days 1,711 sqft
2018-04-01 0 days 1,656 sqft
2018-05-01 0 days 1,590 sqft
2018-06-01 0 days 1,650 sqft
2018-07-01 0 days 1,611 sqft
2018-08-01 0 days 1,611 sqft
2018-09-01 0 days 1,624 sqft
2018-10-01 0 days 1,678 sqft
2018-11-01 0 days 1,610 sqft
2018-12-01 0 days 1,648 sqft
2019-01-01 0 days 1,690 sqft
2019-02-01 0 days 1,706 sqft
2019-03-01 0 days 1,751 sqft
2019-04-01 0 days 1,759 sqft
2019-05-01 0 days 1,700 sqft
2019-06-01 0 days 1,644 sqft
2019-07-01 0 days 1,755 sqft
2019-08-01 0 days 1,764 sqft
2019-09-01 0 days 1,757 sqft
2019-10-01 0 days 1,752 sqft
2019-11-01 0 days 1,712 sqft
2019-12-01 0 days 1,703 sqft
2020-01-01 0 days 1,667 sqft
2020-02-01 0 days 1,624 sqft
2020-03-01 0 days 1,611 sqft
2020-04-01 0 days 1,540 sqft
2020-05-01 0 days 1,570 sqft
2020-06-01 0 days 1,619 sqft
2020-07-01 0 days 1,696 sqft
2020-08-01 0 days 1,700 sqft
2020-09-01 0 days 1,700 sqft
2020-10-01 0 days 1,616 sqft
2020-11-01 0 days 1,597 sqft
2020-12-01 0 days 1,489 sqft
2021-01-01 0 days 1,452 sqft
2021-02-01 0 days 1,523 sqft
2021-03-01 0 days 1,523 sqft
2021-04-01 0 days 1,523 sqft
2021-05-01 0 days 1,792 sqft
2021-06-01 0 days 1,723 sqft
2021-07-01 0 days 1,644 sqft
2021-08-01 0 days 1,583 sqft
2021-09-01 0 days 1,562 sqft
2021-10-01 0 days 1,562 sqft
2021-11-01 0 days 1,590 sqft
2021-12-01 0 days 1,561 sqft
2022-01-01 0 days 1,602 sqft
2022-02-01 0 days 1,902 sqft
2022-03-01 0 days 2,006 sqft
2022-04-01 0 days 1,995 sqft
2022-05-01 0 days 2,091 sqft
2022-06-01 0 days 2,186 sqft
2022-07-01 0 days 1,874 sqft
2022-08-01 0 days 1,781 sqft
2022-09-01 0 days 1,799 sqft
2022-10-01 0 days 1,730 sqft
2022-11-01 0 days 1,773 sqft
2022-12-01 0 days 1,624 sqft
2023-01-01 0 days 1,510 sqft
2023-02-01 0 days 1,567 sqft
2023-03-01 0 days 1,568 sqft
2023-04-01 0 days 1,600 sqft
2023-05-01 0 days 1,619 sqft
2023-06-01 0 days 1,512 sqft
2023-07-01 0 days 1,568 sqft
2023-08-01 0 days 1,557 sqft
Ludington's median listing age (time on market) for 2023-08-01 was 0 days.

Ludington's median square footage for active listings during the 2023-08-01 period was 1,557 sqft. One year prior, the average listing was 1,781 sqft.

Ludington, MI Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 254 $57,020,000 $224,488
Cash Out Refi 116 $17,110,000 $147,500
Refi 97 $14,435,000 $148,814
Home Improvement 50 $4,390,000 $87,800
Other 36 $4,110,000 $114,167

Ludington's most frequently cited loan purpose was Home Purchase, with 254 originations. The 2nd most popular reason was Cash Out Refi, with 116 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
5-6% 138 $25,320,000 $183,478
3-4% 109 $21,665,000 $198,761
4-5% 97 $17,535,000 $180,773
6-7% 73 $12,865,000 $176,233
2.5-3% 55 $9,145,000 $166,273
7-8% 33 $3,775,000 $114,394
Over 8% 18 $1,720,000 $95,556
<2.5% 12 $2,080,000 $173,333

During 2022, Ludington's most frequently originated rate bucket was 5-6%, with 138 originations.

Loan Sizing (Ludington, MI MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 196 $28,430,000 $145,051
$100,000 or less 182 $10,730,000 $58,956
$200k-400k 139 $37,535,000 $270,036
$400k-600k 25 $11,985,000 $479,400
$600k-1000k 10 $7,380,000 $738,000
$Over $1MM 1 $1,005,000 $1,005,000

Ludington's loan sizing saw the bucket of loans from $100k-200k with 196 originations, totaling $28,430,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 150 $34,480,000 $229,867
60-80% 148 $33,670,000 $227,500
40-60% 89 $13,775,000 $154,775
20-40% 78 $7,830,000 $100,385
Under 20% 50 $2,110,000 $42,200
Over 100% 5 $1,115,000 $223,000

Ludington's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 150 originations, totaling $34,480,000 in origination value.