Elkhart USDA Loan Rates, Closing Costs & Stats

ELKHART-GOSHEN, 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.

Elkhart's 7 lenders originated 9 USDA loans during 2024. The total origination value was $2,205,000, with an average USDA loan value of $245,000.

Elkhart USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Elkhart averaged 0.17% for the week of 2025-06-20, compared to the national average (all USDA variants) of 0% for the same period.

Elkhart's average USDA mortgage closing costs are $4,490.

The average rate for the prior week (2025-06-13) was 6.67% and one month ago for the week of 2025-05-16, the average rate was 6.74%.

The average rate one year ago was 6.86%.

For refis of the same type during the week of 2025-06-20, the average rate was 0.31%.

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

Elkhart 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 Elkhart level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.50% $8,490
CHURCHILL MORTGAGE CORPORATION 2 6.25% $8,748
FIRST COMMUNITY MORTGAGE, INC. 1 6.13% $8,071
Mortgage Research Center, LLC 1 6.13% $2,830
STOCKTON MORTGAGE CORPORATION 1 6.25% $8,551
EVERETT FINANCIAL, INC. 1 6.63% $5,628
CARDINAL FINANCIAL 1 6.25% $10,688

The top Elkhart USDA lender as defined by loan originations is AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC, with 2 USDA loans originated. Their average total fees are $8,490, which is $258 lower than the next largest lender, CHURCHILL MORTGAGE CORPORATION.

The lowest fee Elkhart USDA lenders (with over 10 loans originated) are .

The lowest rate Elkhart USDA lenders (with over 10 loans originated) are .