Bloomington USDA Loans

BLOOMINGTON, IN

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.

Bloomington's 30 lenders originated 89 USDA loans during 2021. The total origination value was $16,535,000, with an average USDA loan value of $185,787.

Bloomington USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Bloomington averaged 5.32% for the week of 2022-08-05, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-07-29) was 5.64% and one month ago for the week of 2022-07-01, the average rate was 5.57%.

The average rate one year ago was 2.86%.

For refis of the same type during the week of 2022-08-05, the average rate was 5.02%.

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

Bloomington 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 Bloomington level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
RUOFF MORTGAGE COMPANY, INC. 23 3.13% $2,952
HALLMARK HOME MORTGAGE, LLC 14 3.07% $4,487
GVC MORTGAGE, INC. 7 3.29% $4,648
FAIR WAY LENDING LLC 5 3.13% $4,778
First Financial Bank 3 2.96% $6,405
AMERICAN MORTGAGE SERVICE COMPANY 3 2.42% $4,488
CROSSCOUNTRY MORTGAGE, LLC 2 3.00% $8,222
The Federal Savings Bank 2 2.63% $5,247
FREEDOM MORTGAGE CORPORATION 2 3.25% $5,107
Flanagan State Bank 2 3.25% $5,740
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.37% $3,393
HOME POINT FINANCIAL CORPORATION 2 2.87% $3,160
MORTGAGE MASTERS OF INDIANA, INC. 2 2.69% $4,334
Old National Bank 2 2.94% $4,112
PENNYMAC LOAN SERVICES, LLC 2 2.81% $3,725
Union Savings Bank 1 2.25% $4,258
AMERIFIRST FINANCIAL CORPORATION 1 3.88% $5,159
BAYSHORE MORTGAGE FUNDING, LLC 1 3.63% $5,978
CALIBER HOME LOANS, INC. 1 3.75% $4,194
Colten Mortgage, LLC 1 2.50% $3,881
Community Mortgage Banc Corporation 1 3.00% $4,368
CRESCENT MORTGAGE COMPANY 1 2.75% $2,854
First Option Mortgage, LLC 1 2.88% $5,121
Flagstar Bank, FSB 1 2.75% $5,108
German American Bank 1 2.75% $4,065
MID AMERICA MORTGAGE, INC. 1 2.25% $2,363
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.75% $5,378
NEWREZ LLC 1 2.75% $3,075
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.75% $5,800
ACADEMY MORTGAGE CORPORATION 1 3.25% $3,741

The top Bloomington USDA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 23 USDA loans originated. Their average total fees are $2,952, which is $1,534 lower than the next largest lender, HALLMARK HOME MORTGAGE, LLC.

The lowest fee Bloomington USDA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($2,952), HALLMARK HOME MORTGAGE, LLC ($4,487), .

The lowest rate Bloomington USDA lenders (with over 10 loans originated) are HALLMARK HOME MORTGAGE, LLC (3.07%), RUOFF MORTGAGE COMPANY, INC. (3.13%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Bloomington (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 $249,950 (13.7%) $315,725 (1.2%) 0.92 643
2018-02-01 $261,950 (19.4%) $321,969 (1.7%) 0.94 669
2018-03-01 $269,900 (18.8%) $329,876 (2.6%) 0.93 723
2018-04-01 $271,950 (4.6%) $329,233 (-7.1%) 0.91 833
2018-05-01 $272,400 (9.0%) $335,251 (-3.2%) 0.91 842
2018-06-01 $275,000 (13.2%) $339,600 (2.5%) 0.92 837
2018-07-01 $277,400 (23.3%) $347,258 (11.5%) 0.93 796
2018-08-01 $267,700 (19.0%) $343,320 (7.1%) 0.89 766
2018-09-01 $260,000 (9.0%) $342,290 (4.1%) 0.87 746
2018-10-01 $272,450 (13.6%) $345,599 (3.7%) 0.91 763
2018-11-01 $269,900 (12.5%) $342,723 (4.1%) 0.90 713
2018-12-01 $269,900 (12.5%) $347,592 (12.0%) 0.92 639
2019-01-01 $272,400 (9.0%) $352,946 (11.8%) 0.94 614
2019-02-01 $272,450 (4.0%) $341,789 (6.2%) 0.91 647
2019-03-01 $292,243 (8.3%) $364,935 (10.6%) 0.95 577
2019-04-01 $312,450 (14.9%) $395,339 (20.1%) 0.98 466
2019-05-01 $308,950 (13.4%) $387,335 (15.5%) 0.95 489
2019-06-01 $309,000 (12.4%) $386,311 (13.8%) 0.95 495
2019-07-01 $299,250 (7.9%) $373,790 (7.6%) 0.93 522
2019-08-01 $288,671 (7.8%) $365,057 (6.3%) 0.91 525
2019-09-01 $267,400 (2.9%) $348,042 (1.7%) 0.85 509
2019-10-01 $279,950 (2.8%) $358,699 (3.8%) 0.89 501
2019-11-01 $287,900 (6.7%) $378,484 (10.4%) 0.93 432
2019-12-01 $297,200 (10.1%) $386,535 (11.2%) 0.99 357
2020-01-01 $297,900 (9.4%) $396,126 (12.2%) 0.99 325
2020-02-01 $310,000 (13.8%) $404,660 (18.4%) 1.00 346
2020-03-01 $336,950 (15.3%) $415,612 (13.9%) 1.05 363
2020-04-01 $325,000 (4.0%) $395,996 (0.2%) 1.01 389
2020-05-01 $346,900 (12.3%) $404,060 (4.3%) 1.05 367
2020-06-01 $338,700 (9.6%) $408,344 (5.7%) 0.99 354
2020-07-01 $354,950 (18.6%) $420,855 (12.6%) 1.02 337
2020-08-01 $369,500 (28.0%) $427,127 (17.0%) 1.06 325
2020-09-01 $367,000 (37.3%) $414,856 (19.2%) 1.05 331
2020-10-01 $347,000 (24.0%) $402,499 (12.2%) 0.99 338
2020-11-01 $314,950 (9.4%) $405,707 (7.2%) 0.90 314
2020-12-01 $314,950 (6.0%) $405,458 (4.9%) 0.92 252
2021-01-01 $342,000 (14.8%) $418,419 (5.6%) 1.01 210
2021-02-01 $370,000 (19.4%) $458,277 (13.3%) 1.06 171
2021-03-01 $367,000 (8.9%) $448,781 (8.0%) 1.03 169
2021-04-01 $354,500 (9.1%) $433,463 (9.5%) 0.95 183
2021-05-01 $349,000 (0.6%) $434,602 (7.6%) 0.92 177
2021-06-01 $320,000 (-5.5%) $428,532 (4.9%) 0.83 225
2021-07-01 $312,500 (-12.0%) $415,593 (-1.3%) 0.81 276
2021-08-01 $312,500 (-15.4%) $421,468 (-1.3%) 0.82 292
2021-09-01 $319,950 (-12.8%) $424,253 (2.3%) 0.84 279
2021-10-01 $339,900 (-2.1%) $429,245 (6.7%) 0.89 289
2021-11-01 $335,000 (6.4%) $439,575 (8.4%) 0.88 255
2021-12-01 $344,950 (9.5%) $456,077 (12.5%) 0.92 231
2022-01-01 $355,000 (3.8%) $471,723 (12.7%) 0.95 205
2022-02-01 $364,900 (-1.4%) $483,850 (5.6%) 0.93 182
2022-03-01 $369,900 (0.8%) $488,674 (8.9%) 0.91 192
2022-04-01 $374,900 (5.8%) $485,537 (12.0%) 0.88 208
2022-05-01 $349,950 (0.3%) $466,506 (7.3%) 0.78 250
2022-06-01 $349,950 (9.4%) $454,199 (6.0%) 0.78 322
Bloomington's median listing price for 2022-06-01 was $349,950, a difference of $29,950 (9.4%) versus the prior year and $0 versus the prior month.

Bloomington's median listing price comes in at 78% of the national average.

Bloomington's average listing price for 2022-06-01 was $454,199, a difference of $25,667 (6.0%) versus the prior year and $-12,307 versus the prior month.

For the 2022-06-01 period, Bloomington had 322 MLS listings, a difference of 72 listings (29%) versus the prior month and 97 listings (43%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Bloomington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 85 days 1,910 sqft
2018-02-01 82 days 1,981 sqft
2018-03-01 59 days 2,054 sqft
2018-04-01 52 days 2,040 sqft
2018-05-01 52 days 2,018 sqft
2018-06-01 52 days 2,043 sqft
2018-07-01 57 days 2,107 sqft
2018-08-01 62 days 2,030 sqft
2018-09-01 71 days 1,989 sqft
2018-10-01 71 days 2,011 sqft
2018-11-01 77 days 2,011 sqft
2018-12-01 84 days 2,005 sqft
2019-01-01 93 days 1,997 sqft
2019-02-01 80 days 1,981 sqft
2019-03-01 66 days 2,051 sqft
2019-04-01 58 days 2,147 sqft
2019-05-01 53 days 2,122 sqft
2019-06-01 57 days 2,112 sqft
2019-07-01 60 days 2,080 sqft
2019-08-01 66 days 2,080 sqft
2019-09-01 68 days 2,011 sqft
2019-10-01 59 days 2,015 sqft
2019-11-01 65 days 1,952 sqft
2019-12-01 86 days 1,941 sqft
2020-01-01 97 days 1,884 sqft
2020-02-01 58 days 1,911 sqft
2020-03-01 50 days 2,047 sqft
2020-04-01 58 days 1,971 sqft
2020-05-01 66 days 2,240 sqft
2020-06-01 61 days 2,187 sqft
2020-07-01 59 days 2,200 sqft
2020-08-01 59 days 2,254 sqft
2020-09-01 58 days 2,268 sqft
2020-10-01 52 days 2,087 sqft
2020-11-01 62 days 2,006 sqft
2020-12-01 76 days 1,910 sqft
2021-01-01 86 days 1,974 sqft
2021-02-01 86 days 1,997 sqft
2021-03-01 67 days 1,917 sqft
2021-04-01 42 days 1,876 sqft
2021-05-01 41 days 1,822 sqft
2021-06-01 33 days 1,827 sqft
2021-07-01 36 days 1,870 sqft
2021-08-01 43 days 1,829 sqft
2021-09-01 42 days 1,873 sqft
2021-10-01 45 days 1,975 sqft
2021-11-01 52 days 1,880 sqft
2021-12-01 58 days 1,930 sqft
2022-01-01 66 days 1,915 sqft
2022-02-01 66 days 1,980 sqft
2022-03-01 46 days 1,957 sqft
2022-04-01 38 days 1,936 sqft
2022-05-01 34 days 1,880 sqft
2022-06-01 34 days 1,917 sqft
Bloomington's median listing age (time on market) for 2022-06-01 was 34 days. This is 3% longer than the same period one year ago.

Bloomington's median square footage for active listings during the 2022-06-01 period was 1,917 sqft. One year prior, the average listing was 1,827 sqft.