Bloomington USDA Loan Rates, Closing Costs & Stats

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 18 lenders originated 38 USDA loans during 2022. The total origination value was $6,980,000, with an average USDA loan value of $183,684.

Bloomington USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Bloomington averaged 6.34% for the week of 2024-03-01, compared to the national average (all USDA variants) of 6.729% for the same period.

Bloomington's average USDA mortgage closing costs are $3,902.

The average rate for the prior week (2024-02-23) was 6.19% and one month ago for the week of 2024-01-26, the average rate was 6.05%.

The average rate one year ago was 6.01%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.59%.

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/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Bloomington level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
RUOFF MORTGAGE COMPANY, INC. 10 5.24% $2,444
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 5.09% $5,229
Flagstar Bank, FSB 3 6.08% $7,533
HALLMARK HOME MORTGAGE, LLC 3 5.29% $7,603
UNITED WHOLESALE MORTGAGE, LLC 2 5.31% $4,800
GVC MORTGAGE, INC. 2 4.75% $5,242
MORTGAGE MASTERS OF INDIANA, INC. 2 4.00% $5,639
AMERICAN MORTGAGE SERVICE COMPANY 2 3.13% $4,797
Flanagan State Bank 1 5.63% $8,578
Blue Ridge Bank 1 3.38% $4,384
CHURCHILL MORTGAGE CORPORATION 1 6.63% $6,260
The Federal Savings Bank 1 2.75% $4,474
Old National Bank 1 5.00% $4,901
PENNYMAC LOAN SERVICES, LLC 1 3.00% $6,430
CALIBER HOME LOANS, INC. 1 5.25% $6,991
FAIR WAY LENDING LLC 1 5.13% $9,226
Fifth Third Bank 1 5.25% $3,273
CROSSCOUNTRY MORTGAGE, LLC 1 7.50% $7,407

The top Bloomington USDA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 10 USDA loans originated. Their average total fees are $2,444, which is $2,785 lower than the next largest lender, PRIMELENDING, A PLAINSCAPITAL COMPANY.

The lowest fee Bloomington USDA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($2,444), .

The lowest rate Bloomington USDA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. (5.24%), .


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 $239,168 (11.1%) $310,126 (2.2%) 0.89 595
2018-02-01 $254,950 (23.8%) $318,348 (4.7%) 0.93 620
2018-03-01 $265,000 (17.9%) $325,850 (4.2%) 0.93 672
2018-04-01 $266,725 (2.6%) $324,947 (-7.5%) 0.90 781
2018-05-01 $268,225 (7.3%) $331,483 (-3.2%) 0.90 792
2018-06-01 $266,350 (10.4%) $332,862 (2.2%) 0.89 775
2018-07-01 $267,475 (19.1%) $336,712 (11.0%) 0.89 732
2018-08-01 $257,700 (14.6%) $327,499 (4.5%) 0.86 702
2018-09-01 $255,000 (11.2%) $328,311 (1.3%) 0.86 686
2018-10-01 $262,400 (11.7%) $332,706 (1.4%) 0.89 704
2018-11-01 $259,900 (13.1%) $327,518 (1.5%) 0.88 655
2018-12-01 $259,900 (13.2%) $329,729 (8.8%) 0.90 582
2019-01-01 $259,675 (8.6%) $341,550 (10.1%) 0.90 558
2019-02-01 $261,000 (2.4%) $330,850 (3.9%) 0.88 599
2019-03-01 $286,229 (8.0%) $354,941 (8.9%) 0.94 535
2019-04-01 $308,500 (15.7%) $386,455 (18.9%) 0.98 430
2019-05-01 $299,800 (11.8%) $377,331 (13.8%) 0.94 453
2019-06-01 $300,000 (12.6%) $372,759 (12.0%) 0.94 453
2019-07-01 $289,925 (8.4%) $363,036 (7.8%) 0.91 483
2019-08-01 $284,255 (10.3%) $359,158 (9.7%) 0.90 486
2019-09-01 $275,786 (8.2%) $352,646 (7.4%) 0.88 490
2019-10-01 $273,041 (4.1%) $353,782 (6.3%) 0.88 473
2019-11-01 $277,000 (6.6%) $366,484 (11.9%) 0.91 401
2019-12-01 $291,000 (12.0%) $383,855 (16.4%) 0.97 338
2020-01-01 $295,950 (14.0%) $389,472 (14.0%) 0.99 308
2020-02-01 $309,000 (18.4%) $392,178 (18.5%) 1.01 322
2020-03-01 $330,000 (15.3%) $411,374 (15.9%) 1.03 341
2020-04-01 $324,975 (5.3%) $396,452 (2.6%) 1.02 367
2020-05-01 $344,000 (14.7%) $405,108 (7.4%) 1.05 351
2020-06-01 $339,350 (13.1%) $407,644 (9.4%) 1.00 342
2020-07-01 $359,700 (24.1%) $422,895 (16.5%) 1.04 332
2020-08-01 $359,700 (26.5%) $420,606 (17.1%) 1.03 318
2020-09-01 $357,300 (29.6%) $409,844 (16.2%) 1.02 319
2020-10-01 $320,000 (17.2%) $391,814 (10.8%) 0.92 316
2020-11-01 $304,950 (10.1%) $393,800 (7.5%) 0.89 294
2020-12-01 $299,950 (3.1%) $392,612 (2.3%) 0.89 236
2021-01-01 $340,000 (14.9%) $420,459 (8.0%) 1.01 193
2021-02-01 $367,000 (18.8%) $453,243 (15.6%) 1.07 157
2021-03-01 $362,000 (9.7%) $445,688 (8.3%) 1.03 159
2021-04-01 $345,250 (6.2%) $427,176 (7.8%) 0.93 168
2021-05-01 $339,350 (-1.4%) $433,902 (7.1%) 0.90 158
2021-06-01 $312,450 (-7.9%) $418,914 (2.8%) 0.82 209
2021-07-01 $306,950 (-14.7%) $404,792 (-4.3%) 0.81 253
2021-08-01 $306,950 (-14.7%) $409,119 (-2.7%) 0.82 269
2021-09-01 $315,000 (-11.8%) $408,913 (-0.2%) 0.84 252
2021-10-01 $335,000 (4.7%) $420,064 (7.2%) 0.89 269
2021-11-01 $334,900 (9.8%) $431,701 (9.6%) 0.90 236
2021-12-01 $344,950 (15.0%) $447,330 (13.9%) 0.93 214
2022-01-01 $352,450 (3.7%) $463,108 (10.1%) 0.95 186
2022-02-01 $352,400 (-4.0%) $476,896 (5.2%) 0.92 170
2022-03-01 $362,450 (0.1%) $478,585 (7.4%) 0.91 183
2022-04-01 $365,000 (5.7%) $481,704 (12.8%) 0.87 195
2022-05-01 $352,000 (3.7%) $466,817 (7.6%) 0.80 233
2022-06-01 $354,175 (13.4%) $452,596 (8.0%) 0.79 291
2022-07-01 $339,450 (10.6%) $429,546 (6.1%) 0.76 342
2022-08-01 $349,950 (14.0%) $434,338 (6.2%) 0.81 347
2022-09-01 $357,450 (13.5%) $436,886 (6.8%) 0.84 360
2022-10-01 $334,500 (-0.2%) $418,987 (-0.3%) 0.79 389
2022-11-01 $319,950 (-4.5%) $388,607 (-10.0%) 0.77 369
2022-12-01 $315,000 (-8.7%) $382,617 (-14.5%) 0.78 288
2023-01-01 $319,900 (-9.2%) $385,712 (-16.7%) 0.79 230
2023-02-01 $332,950 (-5.5%) $400,809 (-16.0%) 0.80 226
2023-03-01 $344,500 (-5.0%) $406,923 (-15.0%) 0.81 230
2023-04-01 $372,450 (2.0%) $434,084 (-9.9%) 0.87 236
2023-05-01 $391,200 (11.1%) $460,056 (-1.5%) 0.89 286
2023-06-01 $392,000 (10.7%) $467,159 (3.2%) 0.88 303
2023-07-01 $399,000 (17.5%) $477,342 (11.1%) 0.91 298
2023-08-01 $392,450 (12.1%) $475,571 (9.5%) 0.90 301
2023-09-01 $389,900 (9.1%) $473,591 (8.4%) 0.91 321
2023-10-01 $394,000 (17.8%) $460,899 (10.0%) 0.93 336
2023-11-01 $396,000 (23.8%) $457,696 (17.8%) 0.94 337
2023-12-01 $395,000 (25.4%) $445,946 (16.6%) 0.96 311
2024-01-01 $389,900 (21.9%) $441,125 (14.4%) 0.95 263
Bloomington's median listing price for 2024-01-01 was $389,900, a difference of $70,000 (21.9%) versus the prior year and $-5,100 versus the prior month.

Bloomington's median listing price comes in at 95% of the national average.

Bloomington's average listing price for 2024-01-01 was $441,125, a difference of $55,413 (14.4%) versus the prior year and $-4,821 versus the prior month.

For the 2024-01-01 period, Bloomington had 263 MLS listings, a difference of -48 listings (-15%) versus the prior month and 33 listings (14%) 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 75 days 1,958 sqft
2018-02-01 70 days 2,021 sqft
2018-03-01 55 days 2,104 sqft
2018-04-01 47 days 2,088 sqft
2018-05-01 49 days 2,073 sqft
2018-06-01 50 days 2,113 sqft
2018-07-01 52 days 2,138 sqft
2018-08-01 57 days 2,078 sqft
2018-09-01 65 days 2,034 sqft
2018-10-01 65 days 2,045 sqft
2018-11-01 70 days 2,041 sqft
2018-12-01 78 days 2,032 sqft
2019-01-01 84 days 2,016 sqft
2019-02-01 68 days 2,016 sqft
2019-03-01 57 days 2,105 sqft
2019-04-01 51 days 2,210 sqft
2019-05-01 47 days 2,121 sqft
2019-06-01 51 days 2,106 sqft
2019-07-01 56 days 2,095 sqft
2019-08-01 58 days 2,097 sqft
2019-09-01 56 days 2,052 sqft
2019-10-01 55 days 2,023 sqft
2019-11-01 64 days 1,954 sqft
2019-12-01 83 days 1,970 sqft
2020-01-01 94 days 1,893 sqft
2020-02-01 43 days 1,917 sqft
2020-03-01 48 days 2,064 sqft
2020-04-01 54 days 2,025 sqft
2020-05-01 66 days 2,187 sqft
2020-06-01 62 days 2,170 sqft
2020-07-01 59 days 2,190 sqft
2020-08-01 66 days 2,235 sqft
2020-09-01 63 days 2,181 sqft
2020-10-01 54 days 2,061 sqft
2020-11-01 61 days 2,010 sqft
2020-12-01 71 days 1,909 sqft
2021-01-01 73 days 2,010 sqft
2021-02-01 66 days 2,028 sqft
2021-03-01 51 days 1,956 sqft
2021-04-01 38 days 1,909 sqft
2021-05-01 38 days 1,884 sqft
2021-06-01 29 days 1,839 sqft
2021-07-01 33 days 1,880 sqft
2021-08-01 39 days 1,829 sqft
2021-09-01 38 days 1,871 sqft
2021-10-01 45 days 1,901 sqft
2021-11-01 55 days 1,873 sqft
2021-12-01 60 days 1,890 sqft
2022-01-01 63 days 1,900 sqft
2022-02-01 46 days 1,925 sqft
2022-03-01 38 days 1,920 sqft
2022-04-01 34 days 1,940 sqft
2022-05-01 31 days 1,829 sqft
2022-06-01 32 days 1,888 sqft
2022-07-01 36 days 1,840 sqft
2022-08-01 44 days 1,879 sqft
2022-09-01 47 days 1,951 sqft
2022-10-01 50 days 1,924 sqft
2022-11-01 60 days 1,837 sqft
2022-12-01 74 days 1,798 sqft
2023-01-01 80 days 1,787 sqft
2023-02-01 43 days 1,799 sqft
2023-03-01 42 days 1,832 sqft
2023-04-01 40 days 1,894 sqft
2023-05-01 38 days 1,948 sqft
2023-06-01 44 days 2,017 sqft
2023-07-01 51 days 2,097 sqft
2023-08-01 54 days 2,074 sqft
2023-09-01 47 days 2,046 sqft
2023-10-01 51 days 2,050 sqft
2023-11-01 59 days 2,069 sqft
2023-12-01 72 days 2,052 sqft
2024-01-01 78 days 2,052 sqft
Bloomington's median listing age (time on market) for 2024-01-01 was 78 days. This is -3% shorter than the same period one year ago.

Bloomington's median square footage for active listings during the 2024-01-01 period was 2,052 sqft. One year prior, the average listing was 1,787 sqft.