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
6.73%
for the week of 2023-09-22, compared to the national average (all USDA variants) of
7.021% for the same period.
Bloomington's average USDA mortgage closing costs are $3,902.
The average rate for the prior week (2023-09-15) was
6.89% and
one month ago for the week of 2023-08-18, the
average rate was 6.69%.
The average rate one year ago was 5.62%.
For refis of the same type during the week of 2023-09-22, the average rate
was 5.78%.
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 (1.4%) | 0.88 | 655 |
| 2018-12-01 | $259,900 (13.1%) | $329,729 (8.6%) | 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 | $339,700 (-1.3%) | $440,408 (8.7%) | 0.90 | 158 |
| 2021-06-01 | $312,500 (-7.9%) | $424,563 (4.2%) | 0.82 | 210 |
| 2021-07-01 | $309,000 (-14.1%) | $409,355 (-3.2%) | 0.82 | 254 |
| 2021-08-01 | $307,975 (-14.4%) | $413,600 (-1.7%) | 0.82 | 270 |
| 2021-09-01 | $316,000 (-11.6%) | $413,265 (0.8%) | 0.84 | 253 |
| 2021-10-01 | $335,000 (4.7%) | $424,000 (8.2%) | 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%) | 0.94 | 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 (3.6%) | $466,817 (6.0%) | 0.80 | 233 |
| 2022-06-01 | $354,175 (13.3%) | $452,596 (6.6%) | 0.79 | 291 |
| 2022-07-01 | $339,450 (9.9%) | $429,546 (4.9%) | 0.76 | 342 |
| 2022-08-01 | $349,950 (13.6%) | $434,338 (5.0%) | 0.81 | 347 |
| 2022-09-01 | $357,450 (13.1%) | $436,886 (5.7%) | 0.84 | 360 |
| 2022-10-01 | $334,500 (-0.2%) | $418,987 (-1.2%) | 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 | $344,700 (-4.9%) | $406,799 (-15.0%) | 0.81 | 231 |
| 2023-04-01 | $369,900 (1.3%) | $433,778 (-10.0%) | 0.86 | 237 |
| 2023-05-01 | $391,200 (11.1%) | $459,773 (-1.5%) | 0.89 | 286 |
| 2023-06-01 | $391,975 (10.7%) | $466,628 (3.1%) | 0.88 | 302 |
| 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 |
Bloomington's median listing price comes in at 90% of the national average.
Bloomington's average listing price for 2023-08-01 was $475,571, a difference of $41,233 (9.5%) versus the prior year and $-1,771 versus the prior month.
For the 2023-08-01 period, Bloomington had 301 MLS listings, a difference of 3 listings (1%) versus the prior month and -46 listings (-13%) 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 | 55 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 | 2,005 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 | 37 days | 1,886 sqft |
| 2021-06-01 | 29 days | 1,844 sqft |
| 2021-07-01 | 33 days | 1,880 sqft |
| 2021-08-01 | 39 days | 1,830 sqft |
| 2021-09-01 | 38 days | 1,886 sqft |
| 2021-10-01 | 45 days | 1,918 sqft |
| 2021-11-01 | 55 days | 1,873 sqft |
| 2021-12-01 | 60 days | 1,890 sqft |
| 2022-01-01 | 63 days | 1,901 sqft |
| 2022-02-01 | 46 days | 1,932 sqft |
| 2022-03-01 | 38 days | 1,922 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 | 1,833 sqft |
| 2023-04-01 | 40 days | 1,902 sqft |
| 2023-05-01 | 38 days | 1,947 sqft |
| 2023-06-01 | 44 days | 2,014 sqft |
| 2023-07-01 | 51 days | 2,097 sqft |
| 2023-08-01 | 54 days | 2,075 sqft |
Bloomington's median square footage for active listings during the 2023-08-01 period was 2,075 sqft. One year prior, the average listing was 1,879 sqft.