Elkhart USDA Loans
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 21 lenders originated 80 USDA loans during 2021. The total origination value was $15,070,000, with an average USDA loan value of $188,375.
Elkhart USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Elkhart
averaged
5.29%
for the week of 2022-05-13, compared to the national average (all USDA variants) of
5.294% for the same period.
The average rate for the prior week (2022-05-06) was
5.42% and
one month ago for the week of 2022-04-08, the
average rate was 5.18%.
The average rate one year ago was 3.19%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.43%.
Elkhart 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 Elkhart level.
The top Elkhart USDA lender as defined by loan originations is CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP, with
29 USDA loans originated. Their average total fees are
$5,612, which is $2,464
higher than the next largest lender,
RUOFF MORTGAGE COMPANY, INC..
The lowest fee Elkhart USDA lenders (with over 10 loans originated) are
RUOFF MORTGAGE COMPANY, INC. ($3,148), CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP ($5,612), .
The lowest rate Elkhart USDA lenders (with over 10 loans originated) are
RUOFF MORTGAGE COMPANY, INC. (3.19%), CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP (3.33%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Elkhart (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $154,450 (-0.3%) | $214,695 (0.6%) | 0.57 | 365 |
2018-02-01 | $156,900 (1.2%) | $221,794 (3.2%) | 0.57 | 316 |
2018-03-01 | $169,900 (9.8%) | $227,156 (2.8%) | 0.59 | 287 |
2018-04-01 | $174,950 (-3.9%) | $230,227 (-4.1%) | 0.59 | 271 |
2018-05-01 | $184,900 (-1.4%) | $243,524 (-1.2%) | 0.62 | 297 |
2018-06-01 | $199,500 (9.7%) | $259,994 (8.7%) | 0.67 | 350 |
2018-07-01 | $199,000 (13.7%) | $261,888 (11.0%) | 0.66 | 394 |
2018-08-01 | $197,450 (14.5%) | $257,018 (12.8%) | 0.66 | 417 |
2018-09-01 | $189,900 (8.8%) | $249,982 (7.3%) | 0.64 | 433 |
2018-10-01 | $184,900 (8.9%) | $244,970 (5.3%) | 0.62 | 428 |
2018-11-01 | $186,950 (11.0%) | $247,592 (8.7%) | 0.63 | 432 |
2018-12-01 | $187,900 (17.8%) | $242,195 (10.2%) | 0.64 | 401 |
2019-01-01 | $186,250 (20.6%) | $238,904 (11.3%) | 0.64 | 360 |
2019-02-01 | $192,900 (22.9%) | $245,407 (10.7%) | 0.65 | 338 |
2019-03-01 | $207,571 (22.2%) | $265,430 (16.9%) | 0.68 | 297 |
2019-04-01 | $217,571 (24.4%) | $282,919 (22.9%) | 0.69 | 251 |
2019-05-01 | $214,900 (16.2%) | $277,984 (14.2%) | 0.66 | 250 |
2019-06-01 | $210,000 (5.3%) | $273,878 (5.3%) | 0.65 | 279 |
2019-07-01 | $209,950 (5.5%) | $271,804 (3.8%) | 0.65 | 292 |
2019-08-01 | $197,757 (0.2%) | $251,866 (-2.0%) | 0.62 | 363 |
2019-09-01 | $192,450 (1.3%) | $241,012 (-3.6%) | 0.61 | 389 |
2019-10-01 | $192,450 (4.1%) | $244,769 (-0.1%) | 0.61 | 376 |
2019-11-01 | $184,900 (-1.1%) | $237,038 (-4.3%) | 0.60 | 365 |
2019-12-01 | $176,250 (-6.2%) | $227,786 (-6.0%) | 0.59 | 331 |
2020-01-01 | $185,350 (-0.5%) | $235,494 (-1.4%) | 0.62 | 299 |
2020-02-01 | $189,900 (-1.6%) | $239,347 (-2.5%) | 0.61 | 265 |
2020-03-01 | $214,900 (3.5%) | $269,630 (1.6%) | 0.67 | 232 |
2020-04-01 | $213,450 (-1.9%) | $271,845 (-3.9%) | 0.66 | 233 |
2020-05-01 | $248,900 (15.8%) | $301,202 (8.4%) | 0.75 | 222 |
2020-06-01 | $267,650 (27.5%) | $311,659 (13.8%) | 0.78 | 207 |
2020-07-01 | $259,900 (23.8%) | $318,365 (17.1%) | 0.74 | 194 |
2020-08-01 | $244,900 (23.8%) | $320,897 (27.4%) | 0.70 | 198 |
2020-09-01 | $224,900 (16.9%) | $312,413 (29.6%) | 0.64 | 187 |
2020-10-01 | $219,900 (14.3%) | $315,158 (28.8%) | 0.63 | 201 |
2020-11-01 | $201,950 (9.2%) | $295,299 (24.6%) | 0.58 | 182 |
2020-12-01 | $198,900 (12.9%) | $299,404 (31.4%) | 0.58 | 151 |
2021-01-01 | $179,900 (-2.9%) | $301,223 (27.9%) | 0.53 | 122 |
2021-02-01 | $174,900 (-7.9%) | $313,345 (30.9%) | 0.50 | 85 |
2021-03-01 | $169,900 (-20.9%) | $298,439 (10.7%) | 0.48 | 91 |
2021-04-01 | $149,900 (-29.8%) | $267,300 (-1.7%) | 0.40 | 98 |
2021-05-01 | $139,900 (-43.8%) | $257,270 (-14.6%) | 0.37 | 103 |
2021-06-01 | $238,450 (-10.9%) | $299,384 (-3.9%) | 0.62 | 114 |
2021-07-01 | $253,900 (-2.3%) | $324,205 (1.8%) | 0.66 | 116 |
2021-08-01 | $222,450 (-9.2%) | $311,374 (-3.0%) | 0.58 | 126 |
2021-09-01 | $232,250 (3.3%) | $332,324 (6.4%) | 0.61 | 124 |
2021-10-01 | $219,900 (0.0%) | $301,904 (-4.2%) | 0.58 | 122 |
2021-11-01 | $226,750 (12.3%) | $299,960 (1.6%) | 0.60 | 113 |
2021-12-01 | $212,250 (6.7%) | $284,979 (-4.8%) | 0.57 | 110 |
2022-01-01 | $199,900 (11.1%) | $288,255 (-4.3%) | 0.53 | 84 |
2022-02-01 | $202,400 (15.7%) | $290,631 (-7.3%) | 0.52 | 64 |
2022-03-01 | $213,900 (25.9%) | $292,403 (-2.0%) | 0.53 | 65 |
2022-04-01 | $249,900 (66.7%) | $333,034 (24.6%) | 0.59 | 83 |
Elkhart's median listing price comes in at 59% of the national average.
Elkhart's average listing price for 2022-04-01 was $333,034, a difference of $65,734 (24.6%) versus the prior year and $40,631 versus the prior month.
For the 2022-04-01 period, Elkhart had 83 MLS listings, a difference of 18 listings (28%) versus the prior month and -15 listings (-15%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Elkhart (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 85 days | 1,757 sqft |
2018-02-01 | 96 days | 1,737 sqft |
2018-03-01 | 67 days | 1,840 sqft |
2018-04-01 | 46 days | 1,875 sqft |
2018-05-01 | 37 days | 1,947 sqft |
2018-06-01 | 36 days | 2,066 sqft |
2018-07-01 | 43 days | 2,055 sqft |
2018-08-01 | 43 days | 2,025 sqft |
2018-09-01 | 44 days | 2,036 sqft |
2018-10-01 | 54 days | 1,992 sqft |
2018-11-01 | 56 days | 2,039 sqft |
2018-12-01 | 64 days | 2,056 sqft |
2019-01-01 | 77 days | 2,033 sqft |
2019-02-01 | 73 days | 2,069 sqft |
2019-03-01 | 72 days | 2,180 sqft |
2019-04-01 | 56 days | 2,310 sqft |
2019-05-01 | 41 days | 2,225 sqft |
2019-06-01 | 37 days | 2,306 sqft |
2019-07-01 | 42 days | 2,301 sqft |
2019-08-01 | 39 days | 2,169 sqft |
2019-09-01 | 46 days | 2,019 sqft |
2019-10-01 | 50 days | 1,998 sqft |
2019-11-01 | 52 days | 1,938 sqft |
2019-12-01 | 65 days | 1,820 sqft |
2020-01-01 | 78 days | 1,828 sqft |
2020-02-01 | 70 days | 1,872 sqft |
2020-03-01 | 53 days | 2,028 sqft |
2020-04-01 | 55 days | 1,987 sqft |
2020-05-01 | 63 days | 2,204 sqft |
2020-06-01 | 43 days | 2,281 sqft |
2020-07-01 | 45 days | 2,245 sqft |
2020-08-01 | 36 days | 2,210 sqft |
2020-09-01 | 40 days | 2,102 sqft |
2020-10-01 | 35 days | 2,064 sqft |
2020-11-01 | 39 days | 1,740 sqft |
2020-12-01 | 52 days | 1,762 sqft |
2021-01-01 | 64 days | 1,720 sqft |
2021-02-01 | 58 days | 1,799 sqft |
2021-03-01 | 29 days | 1,746 sqft |
2021-04-01 | 16 days | 1,600 sqft |
2021-05-01 | 18 days | 1,612 sqft |
2021-06-01 | 17 days | 2,177 sqft |
2021-07-01 | 20 days | 2,217 sqft |
2021-08-01 | 26 days | 1,874 sqft |
2021-09-01 | 25 days | 1,898 sqft |
2021-10-01 | 29 days | 1,718 sqft |
2021-11-01 | 32 days | 1,777 sqft |
2021-12-01 | 44 days | 1,657 sqft |
2022-01-01 | 56 days | 1,626 sqft |
2022-02-01 | 44 days | 1,606 sqft |
2022-03-01 | 36 days | 1,680 sqft |
2022-04-01 | 11 days | 1,943 sqft |
Elkhart's median square footage for active listings during the 2022-04-01 period was 1,943 sqft. One year prior, the average listing was 1,600 sqft.