Sault Ste. Marie Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Sault Ste. Marie averaged 7.14% for the week of 2025-05-22, compared to the national average of 6.86% for the same period.

    The average rate for the prior week (2025-05-15) was 6.89% and one month ago for the week of 2025-04-17, the average rate was 6.71%.

    Sault Ste. Marie's average rate one year ago was 7.3%.

    For refis of the same type during the week of 2025-05-22, the average rate was 7.26%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-05-22 6.86%
    Sault Ste. Marie 30 Year Fixed Rate 2025-05-22 7.14%
    Sault Ste. Marie 30 Year Fixed Rate Refi 2025-05-22 7.26%
    Sault Ste. Marie 15 Year Fixed Rate 2025-05-22 6.11%
    Sault Ste. Marie 15 Year Fixed Rate Refi 2025-05-22 6.51%
    Sault Ste. Marie 30 Year FHA 2025-05-22 6.71%
    Sault Ste. Marie 30 Year FHA Refi 2025-05-22 6.41%
    Sault Ste. Marie 30 Year USDA 2025-05-22 6.43%
    Sault Ste. Marie 30 Year USDA Refi 2025-05-22 6.43%
    Sault Ste. Marie 30 Year VA 2025-05-22 6.62%
    Sault Ste. Marie 30 Year VA Refi 2025-05-22 6.72%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Sault Ste. Marie, MI.

    Sault Ste. Marie 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 Sault Ste. Marie, 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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 23 6.70% $6,069
    Nicolet National Bank 19 7.08% $3,096
    BLG HOLDINGS, INC. 17 6.55% $4,586
    UNITED WHOLESALE MORTGAGE, LLC 9 7.15% $4,304
    LOANDEPOT.COM, LLC 5 6.57% $5,743
    VAN DYK MORTGAGE CORPORATION 4 6.72% $3,919
    The Huntington National Bank 3 6.83% $3,437
    Mr. Cooper ( Nationstar Mortgage ) 3 7.04% $8,700
    NAVY FEDERAL CREDIT UNION 3 5.79% $2,019
    CROSSCOUNTRY MORTGAGE, LLC 2 7.31% $4,586
    UNION HOME MORTGAGE CORP. 2 7.19% $4,267
    STAUNTON FINANCIAL, INC. 2 6.56% $3,616
    MARSHALL COMMUNITY CREDIT UNION 2 7.13% $3,109
    Isabella Bank 2 6.06% $2,668
    Mercantile Bank of Michigan 1 7.00% $3,272
    MICHIGAN MUTUAL, INC. 1 6.63% $3,924
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION 1 6.50% $7,062
    Morgan Stanley Private Bank 1 7.00% $2,825
    MORTGAGE 1 INCORPORATED 1 7.38% $4,291
    NEWREZ LLC 1 7.13% $6,042
    NexBank 1 7.88% $9,955
    OAK MORTGAGE, LLC 1 7.38% $3,683
    PENNYMAC LOAN SERVICES, LLC 1 7.62% $5,323
    PLAZA HOME MORTGAGE, INC. 1 7.63% $5,756
    RUOFF MORTGAGE COMPANY, INC. 1 7.13% $3,158
    Summit Credit Union 1 6.75% $1,891
    The Dart Bank 1 6.75% $3,876
    Three Rivers Federal Credit Union 1 8.13% $6,079
    TOTAL MORTGAGE SERVICES, LLC 1 7.50% $17,803
    American Bank and Trust Company 1 6.38% $3,100
    Wells Fargo Bank 1 6.88% $6,463
    AMERICAN FINANCING CORPORATION 1 6.49% $6,730
    Bank First, N.A. 1 7.25% $2,936
    COMMUNITY FINANCIAL CREDIT UNION 1 6.75% $3,147
    CONSUMERS 1 6.63% $3,152
    CREDIT UNION ONE 1 6.75% $4,303
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 7.13% $3,406
    GENISYS 1 6.50% $4,866
    GreenStone Farm Credit Services, FLCA 1 7.25% $6,307
    GUILD MORTGAGE COMPANY 1 7.13% $5,462
    Horizon Bank 1 7.13% $3,807
    Kellogg Community Credit Union 1 7.25% $2,449
    KeyBank 1 6.63% $3,552
    LAKE MICHIGAN CREDIT UNION 1 6.38% $4,235

    Sault Ste. Marie Average Closing Costs & Other Stats

    Sault Ste. Marie, MI's 44 lenders originated 326 loans during 2024. The total origination value was $56,000,000, with an average loan value of $171,779.

    Sault Ste. Marie's average closing costs are $4,308.

    The top Sault Ste. Marie lender as defined by loan originations is QUICKEN LOANS, LLC, with 23 loans originated. Their average total fees are $6,069, which is $2,973 higher than the next largest lender, Nicolet National Bank.

    The lowest fee Sault Ste. Marie lenders (with over 10 loans originated) are Nicolet National Bank ($3,096), BLG HOLDINGS, INC. ($4,586), QUICKEN LOANS, LLC ($6,069), .

    The lowest rate Sault Ste. Marie lenders (with over 10 loans originated) are BLG HOLDINGS, INC. (6.55%), QUICKEN LOANS, LLC (6.70%), Nicolet National Bank (7.08%), .

    Sault Ste. Marie, 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 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
    QUICKEN LOANS, LLC $4,495,000 $8,985,000 99.9% 16.0%
    Nicolet National Bank $4,440,000 $7,990,000 80.0% 14.3%
    Mortgage Research Center, LLC $2,435,000 $4,270,000 75.4% 7.6%
    BLG HOLDINGS, INC. $875,000 $3,255,000 272.0% 5.8%
    The Huntington National Bank $3,645,000 $2,220,000 -39.1% 4.0%
    UNITED WHOLESALE MORTGAGE, LLC $1,740,000 $1,735,000 -0.3% 3.1%
    NAVY FEDERAL CREDIT UNION $585,000 $1,580,000 170.1% 2.8%
    LOANDEPOT.COM, LLC $1,035,000 $1,410,000 36.2% 2.5%
    VAN DYK MORTGAGE CORPORATION $2,320,000 $1,305,000 -43.8% 2.3%
    Mr. Cooper ( Nationstar Mortgage ) $1,135,000 n/a 2.0%
    GreenStone Farm Credit Services, FLCA $1,515,000 $1,115,000 -26.4% 2.0%
    LAKE MICHIGAN CREDIT UNION $375,000 $1,020,000 172.0% 1.8%
    Carrington Mortgage Services, LLC $250,000 $950,000 280.0% 1.7%
    USAA Federal Savings Bank $880,000 $910,000 3.4% 1.6%
    FREEDOM MORTGAGE CORPORATION $135,000 $625,000 363.0% 1.1%
    STAUNTON FINANCIAL, INC. $535,000 n/a 1.0%
    CREDIT UNION ONE $325,000 $520,000 60.0% 0.9%
    CROSSCOUNTRY MORTGAGE, LLC $515,000 n/a 0.9%
    TOTAL MORTGAGE SERVICES, LLC $505,000 n/a 0.9%
    UNION HOME MORTGAGE CORP. $475,000 n/a 0.8%
    ROYAL UNITED MORTGAGE LLC $65,000 $425,000 553.8% 0.8%
    BROKER SOLUTIONS, INC. $225,000 $420,000 86.7% 0.8%
    GUILD MORTGAGE COMPANY $365,000 n/a 0.7%
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $165,000 $360,000 118.2% 0.6%
    Horizon Bank $360,000 n/a 0.6%
    PNC Bank $500,000 $360,000 -28.0% 0.6%
    PENNYMAC LOAN SERVICES, LLC $1,175,000 $350,000 -70.2% 0.6%
    Wells Fargo Bank $350,000 n/a 0.6%
    MORTGAGE 1 INCORPORATED $795,000 $340,000 -57.2% 0.6%
    COMMUNITY FINANCIAL CREDIT UNION $75,000 $315,000 320.0% 0.6%
    Mercantile Bank of Michigan $300,000 $315,000 5.0% 0.6%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $355,000 $305,000 -14.1% 0.5%
    DEEPHAVEN MORTGAGE LLC $295,000 n/a 0.5%
    MARSHALL COMMUNITY CREDIT UNION $195,000 $290,000 48.7% 0.5%
    GENISYS $315,000 $265,000 -15.9% 0.5%
    NexBank $465,000 $265,000 -43.0% 0.5%
    VILLAGE CAPITAL MORTGAGE $265,000 n/a 0.5%
    Isabella Bank $210,000 $250,000 19.0% 0.4%
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION $255,000 $250,000 -2.0% 0.4%
    Bank First, N.A. $235,000 n/a 0.4%
    GreenStone Farm Credit Services, ACA $225,000 n/a 0.4%
    OAK MORTGAGE, LLC $225,000 n/a 0.4%
    CONSUMERS $270,000 $215,000 -20.4% 0.4%
    Flagstar Bank, FSB $200,000 $195,000 -2.5% 0.3%
    MID AMERICA MORTGAGE, INC. $805,000 $185,000 -77.0% 0.3%
    RUOFF MORTGAGE COMPANY, INC. $185,000 n/a 0.3%
    The Dart Bank $175,000 n/a 0.3%
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION $165,000 n/a 0.3%
    MUTUAL OF OMAHA MORTGAGE, INC. $165,000 n/a 0.3%
    Barrington Bank & Trust Company, N.A. $155,000 n/a 0.3%
    FIRST COMMUNITY MORTGAGE, INC. $155,000 n/a 0.3%
    NEWREZ LLC $280,000 $155,000 -44.6% 0.3%
    Three Rivers Federal Credit Union $145,000 n/a 0.3%
    KeyBank $135,000 n/a 0.2%
    Morgan Stanley Private Bank $115,000 $135,000 17.4% 0.2%
    MICHIGAN MUTUAL, INC. $130,000 $130,000 0.0% 0.2%
    Comerica Bank $105,000 $125,000 19.0% 0.2%
    Independent Bank $380,000 $125,000 -67.1% 0.2%
    American Bank and Trust Company $115,000 n/a 0.2%
    PLAZA HOME MORTGAGE, INC. $115,000 n/a 0.2%
    Discover Bank $110,000 n/a 0.2%
    Kellogg Community Credit Union $95,000 n/a 0.2%
    AMERICAN FINANCING CORPORATION $85,000 n/a 0.2%
    AMERISAVE MORTGAGE CORPORATION $85,000 $85,000 0.0% 0.2%
    Citizens Bank $835,000 $75,000 -91.0% 0.1%
    Third Federal Savings and Loan Association of Cleveland $75,000 n/a 0.1%
    LOANPAL, LLC $65,000 n/a 0.1%
    Summit Credit Union $65,000 n/a 0.1%
    SPRING EQ, LLC $35,000 n/a 0.1%
    21ST MORTGAGE CORPORATION $160,000 $25,000 -84.4% 0.0%
    DFCU FINANCIAL $405,000 $25,000 -93.8% 0.0%
    Fifth Third Bank $25,000 n/a 0.0%
    Coastal Community Bank $15,000 n/a 0.0%
    FINANCE OF AMERICA REVERSE LLC $175,000 $15,000 -91.4% 0.0%

    Sault Ste. Marie's top lender by overall market share is QUICKEN LOANS, LLC, with 16.0% market share. In second place, with 14.3%, is Nicolet National Bank, having originated $7,990,000 in loans. In third place, with 7.6%, is Mortgage Research Center, LLC, having originated $4,270,000 in loans. In fourth place, with 5.8%, is BLG HOLDINGS, INC., having originated $3,255,000 in loans. In fifth place, with 4.0%, is The Huntington National Bank, having originated $2,220,000 in loans.

    Sault Ste. Marie Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Sault Ste. Marie (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 $138,750 (15.7%) $186,914 (8.8%) 0.00 398
    2018-02-01 $137,900 (10.4%) $185,743 (-2.5%) 0.00 387
    2018-03-01 $139,000 (11.3%) $192,974 (1.7%) 0.00 366
    2018-04-01 $140,000 (11.2%) $195,088 (2.8%) 0.00 371
    2018-05-01 $148,500 (14.3%) $198,166 (3.9%) 0.00 383
    2018-06-01 $149,000 (14.7%) $194,910 (1.0%) 0.00 444
    2018-07-01 $145,000 (11.6%) $191,470 (-0.8%) 0.00 486
    2018-08-01 $146,600 (9.3%) $192,927 (-2.6%) 0.00 490
    2018-09-01 $138,000 (2.2%) $189,511 (-2.7%) 0.00 465
    2018-10-01 $137,225 (0.6%) $193,996 (7.3%) 0.00 427
    2018-11-01 $135,000 (-1.6%) $195,108 (7.6%) 0.00 409
    2018-12-01 $139,000 (0.0%) $196,075 (5.9%) 0.00 373
    2019-01-01 $144,700 (4.3%) $198,948 (6.4%) 0.00 346
    2019-02-01 $149,000 (8.1%) $204,049 (9.9%) 0.00 344
    2019-03-01 $149,407 (7.5%) $206,644 (7.1%) 0.00 329
    2019-04-01 $149,973 (7.1%) $209,048 (7.2%) 0.00 329
    2019-05-01 $149,900 (0.9%) $208,274 (5.1%) 0.00 324
    2019-06-01 $157,000 (5.4%) $208,672 (7.1%) 0.00 354
    2019-07-01 $156,500 (7.9%) $202,736 (5.9%) 0.00 386
    2019-08-01 $155,455 (6.0%) $201,498 (4.4%) 0.00 391
    2019-09-01 $154,636 (12.1%) $199,939 (5.5%) 0.00 389
    2019-10-01 $154,341 (12.5%) $198,900 (2.5%) 0.00 383
    2019-11-01 $154,500 (14.4%) $201,142 (3.1%) 0.00 348
    2019-12-01 $159,000 (14.4%) $200,900 (2.5%) 0.00 313
    2020-01-01 $156,750 (8.3%) $197,433 (-0.8%) 0.00 296
    2020-02-01 $158,000 (6.0%) $202,401 (-0.8%) 0.00 294
    2020-03-01 $159,900 (7.0%) $206,246 (-0.2%) 0.00 286
    2020-04-01 $159,900 (6.6%) $206,158 (-1.4%) 0.00 287
    2020-05-01 $159,900 (6.7%) $200,148 (-3.9%) 0.00 287
    2020-06-01 $159,900 (1.9%) $198,901 (-4.7%) 0.00 279
    2020-07-01 $159,950 (2.2%) $203,568 (0.4%) 0.00 262
    2020-08-01 $167,450 (7.7%) $203,844 (1.2%) 0.00 232
    2020-09-01 $159,450 (3.1%) $201,817 (0.9%) 0.00 202
    2020-10-01 $159,450 (3.3%) $210,772 (6.0%) 0.00 174
    2020-11-01 $153,325 (-0.8%) $213,336 (6.1%) 0.00 173
    2020-12-01 $144,225 (-9.3%) $197,625 (-1.6%) 0.00 158
    2021-01-01 $146,500 (-6.5%) $208,157 (5.4%) 0.00 139
    2021-02-01 $156,000 (-1.3%) $226,140 (11.7%) 0.00 121
    2021-03-01 $175,000 (9.4%) $237,445 (15.1%) 0.00 107
    2021-04-01 $179,667 (12.4%) $276,360 (34.1%) 0.00 94
    2021-05-01 $199,900 (25.0%) $298,525 (49.2%) 0.00 99
    2021-06-01 $198,000 (23.8%) $296,848 (49.2%) 0.00 121
    2021-07-01 $198,000 (23.8%) $297,999 (46.4%) 0.00 116
    2021-08-01 $202,000 (20.6%) $316,545 (55.3%) 0.00 120
    2021-09-01 $202,450 (27.0%) $309,247 (53.2%) 0.00 123
    2021-10-01 $210,000 (31.7%) $298,838 (41.8%) 0.00 110
    2021-11-01 $185,925 (21.3%) $277,405 (30.0%) 0.00 98
    2021-12-01 $176,950 (22.7%) $257,774 (30.4%) 0.00 90
    2022-01-01 $167,450 (14.3%) $262,693 (26.2%) 0.00 75
    2022-02-01 $176,725 (13.3%) $266,736 (18.0%) 0.00 55
    2022-03-01 $222,500 (27.1%) $291,854 (22.9%) 0.00 49
    2022-04-01 $194,950 (8.5%) $276,878 (0.2%) 0.00 53
    2022-05-01 $205,000 (2.6%) $250,996 (-15.9%) 0.00 64
    2022-06-01 $184,500 (-6.8%) $240,062 (-19.1%) 0.00 82
    2022-07-01 $190,000 (-4.0%) $235,083 (-21.1%) 0.00 92
    2022-08-01 $189,300 (-6.3%) $240,017 (-24.2%) 0.00 93
    2022-09-01 $189,925 (-6.2%) $242,577 (-21.6%) 0.00 92
    2022-10-01 $199,900 (-4.8%) $294,351 (-1.5%) 0.00 92
    2022-11-01 $225,000 (21.0%) $367,333 (32.4%) 0.00 80
    2022-12-01 $232,450 (31.4%) $379,511 (47.2%) 0.00 74
    2023-01-01 $247,425 (47.8%) $421,396 (60.4%) 0.00 61
    2023-02-01 $239,900 (35.8%) $403,510 (51.3%) 0.00 63
    2023-03-01 $250,000 (12.4%) $426,657 (46.2%) 0.00 64
    2023-04-01 $270,000 (38.5%) $476,667 (72.2%) 0.00 56
    2023-05-01 $242,400 (18.2%) $367,064 (46.2%) 0.00 71
    2023-06-01 $225,000 (22.0%) $337,424 (40.6%) 0.00 86
    2023-07-01 $239,900 (26.3%) $334,933 (42.5%) 0.00 100
    2023-08-01 $229,725 (21.4%) $328,440 (36.8%) 0.00 103
    2023-09-01 $215,000 (13.2%) $318,327 (31.2%) 0.00 102
    2023-10-01 $212,500 (6.3%) $292,074 (-0.8%) 0.00 103
    2023-11-01 $218,000 (-3.1%) $294,642 (-19.8%) 0.00 94
    2023-12-01 $225,250 (-3.1%) $324,842 (-14.4%) 0.00 84
    2024-01-01 $234,450 (-5.2%) $333,099 (-21.0%) 0.00 73
    2024-02-01 $249,250 (3.9%) $329,927 (-18.2%) 0.00 70
    2024-03-01 $250,000 (0.0%) $352,729 (-17.3%) 0.00 63
    2024-04-01 $261,200 (-3.3%) $354,760 (-25.6%) 0.00 73
    2024-05-01 $278,200 (14.8%) $366,031 (-0.3%) 0.00 81
    2024-06-01 $264,900 (17.7%) $388,235 (15.1%) 0.00 100
    2024-07-01 $262,225 (9.3%) $372,394 (11.2%) 0.00 107
    2024-08-01 $269,000 (17.1%) $360,755 (9.8%) 0.00 115
    2024-09-01 $260,500 (21.2%) $354,279 (11.3%) 0.00 112
    2024-10-01 $259,375 (22.1%) $348,730 (19.4%) 0.00 111
    2024-11-01 $249,000 (14.2%) $340,017 (15.4%) 0.00 101
    2024-12-01 $224,925 (-0.1%) $302,757 (-6.8%) 0.00 83
    2025-01-01 $219,900 (-6.2%) $327,668 (-1.6%) 0.00 76
    2025-02-01 $254,950 (2.3%) $383,605 (16.3%) 0.00 68
    2025-03-01 $254,950 (2.0%) $390,563 (10.7%) 0.00 67
    2025-04-01 $262,450 (0.5%) $384,671 (8.4%) 0.00 73
    Sault Ste. Marie's median listing price for 2025-04-01 was $262,450, a difference of $1,250 (0.5%) versus the prior year and $7,500 versus the prior month.

    Sault Ste. Marie's median listing price comes in at 0% of the national average.

    Sault Ste. Marie's average listing price for 2025-04-01 was $384,671, a difference of $29,911 (8.4%) versus the prior year and $-5,892 versus the prior month.

    For the 2025-04-01 period, Sault Ste. Marie had 73 MLS listings, a difference of 6 listings (9%) versus the prior month and 0 listings (0%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Sault Ste. Marie (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,355 sqft
    2018-02-01 0 days 1,400 sqft
    2018-03-01 0 days 1,433 sqft
    2018-04-01 0 days 1,429 sqft
    2018-05-01 0 days 1,424 sqft
    2018-06-01 0 days 1,424 sqft
    2018-07-01 0 days 1,392 sqft
    2018-08-01 0 days 1,394 sqft
    2018-09-01 0 days 1,350 sqft
    2018-10-01 0 days 1,365 sqft
    2018-11-01 0 days 1,358 sqft
    2018-12-01 0 days 1,352 sqft
    2019-01-01 0 days 1,362 sqft
    2019-02-01 0 days 1,392 sqft
    2019-03-01 0 days 1,395 sqft
    2019-04-01 0 days 1,403 sqft
    2019-05-01 0 days 1,400 sqft
    2019-06-01 0 days 1,400 sqft
    2019-07-01 0 days 1,371 sqft
    2019-08-01 0 days 1,361 sqft
    2019-09-01 0 days 1,383 sqft
    2019-10-01 0 days 1,400 sqft
    2019-11-01 0 days 1,394 sqft
    2019-12-01 0 days 1,391 sqft
    2020-01-01 0 days 1,321 sqft
    2020-02-01 0 days 1,354 sqft
    2020-03-01 0 days 1,404 sqft
    2020-04-01 0 days 1,400 sqft
    2020-05-01 0 days 1,400 sqft
    2020-06-01 0 days 1,375 sqft
    2020-07-01 0 days 1,387 sqft
    2020-08-01 0 days 1,400 sqft
    2020-09-01 0 days 1,351 sqft
    2020-10-01 0 days 1,325 sqft
    2020-11-01 0 days 1,354 sqft
    2020-12-01 0 days 1,388 sqft
    2021-01-01 0 days 1,400 sqft
    2021-02-01 0 days 1,420 sqft
    2021-03-01 0 days 1,388 sqft
    2021-04-01 0 days 1,346 sqft
    2021-05-01 0 days 1,440 sqft
    2021-06-01 0 days 1,488 sqft
    2021-07-01 0 days 1,512 sqft
    2021-08-01 0 days 1,512 sqft
    2021-09-01 0 days 1,428 sqft
    2021-10-01 0 days 1,432 sqft
    2021-11-01 0 days 1,392 sqft
    2021-12-01 0 days 1,334 sqft
    2022-01-01 0 days 1,360 sqft
    2022-02-01 0 days 1,427 sqft
    2022-03-01 0 days 1,522 sqft
    2022-04-01 0 days 1,418 sqft
    2022-05-01 0 days 1,378 sqft
    2022-06-01 0 days 1,350 sqft
    2022-07-01 0 days 1,337 sqft
    2022-08-01 0 days 1,376 sqft
    2022-09-01 0 days 1,346 sqft
    2022-10-01 0 days 1,451 sqft
    2022-11-01 0 days 1,570 sqft
    2022-12-01 0 days 1,600 sqft
    2023-01-01 0 days 1,600 sqft
    2023-02-01 0 days 1,586 sqft
    2023-03-01 0 days 1,613 sqft
    2023-04-01 0 days 1,613 sqft
    2023-05-01 0 days 1,462 sqft
    2023-06-01 0 days 1,459 sqft
    2023-07-01 0 days 1,443 sqft
    2023-08-01 0 days 1,412 sqft
    2023-09-01 0 days 1,380 sqft
    2023-10-01 0 days 1,347 sqft
    2023-11-01 0 days 1,408 sqft
    2023-12-01 0 days 1,440 sqft
    2024-01-01 0 days 1,420 sqft
    2024-02-01 0 days 1,476 sqft
    2024-03-01 0 days 1,500 sqft
    2024-04-01 0 days 1,500 sqft
    2024-05-01 0 days 1,688 sqft
    2024-06-01 0 days 1,565 sqft
    2024-07-01 0 days 1,509 sqft
    2024-08-01 0 days 1,600 sqft
    2024-09-01 0 days 1,600 sqft
    2024-10-01 0 days 1,604 sqft
    2024-11-01 0 days 1,604 sqft
    2024-12-01 0 days 1,543 sqft
    2025-01-01 0 days 1,441 sqft
    2025-02-01 0 days 1,555 sqft
    2025-03-01 0 days 1,540 sqft
    2025-04-01 0 days 1,531 sqft
    Sault Ste. Marie's median listing age (time on market) for 2025-04-01 was 0 days.

    Sault Ste. Marie's median square footage for active listings during the 2025-04-01 period was 1,531 sqft. One year prior, the average listing was 1,500 sqft.

    Sault Ste. Marie, MI Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 197 $38,405,000 $194,949
    Cash Out Refi 60 $9,840,000 $164,000
    Other 24 $1,980,000 $82,500
    Refi 24 $4,060,000 $169,167
    Home Improvement 21 $1,715,000 $81,667

    Sault Ste. Marie's most frequently cited loan purpose was Home Purchase, with 197 originations. The 2nd most popular reason was Cash Out Refi, with 60 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 139 $26,235,000 $188,741
    7-8% 89 $16,115,000 $181,067
    Over 8% 59 $6,265,000 $106,186
    5-6% 38 $7,380,000 $194,211
    <2.5% 1 $5,000 $5,000

    During 2024, Sault Ste. Marie's most frequently originated rate bucket was 6-7%, with 139 originations.

    Loan Sizing (Sault Ste. Marie, MI MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 138 $20,260,000 $146,812
    $100,000 or less 88 $5,730,000 $65,114
    $200k-400k 88 $23,440,000 $266,364
    $400k-600k 9 $4,355,000 $483,889
    $600k-1000k 3 $2,215,000 $738,333

    Sault Ste. Marie's loan sizing saw the bucket of loans from $100k-200k with 138 originations, totaling $20,260,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 154 $30,420,000 $197,532
    60-80% 84 $15,400,000 $183,333
    20-40% 29 $2,855,000 $98,448
    40-60% 29 $4,335,000 $149,483
    Under 20% 20 $710,000 $35,500
    Over 100% 7 $1,555,000 $222,143

    Sault Ste. Marie's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 154 originations, totaling $30,420,000 in origination value.