Elkhart USDA Loan Rates, Closing Costs & Stats

ELKHART-GOSHEN, IN

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    • 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 11 lenders originated 20 USDA loans during 2023. The total origination value was $4,000,000, with an average USDA loan value of $200,000.

    Elkhart USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Elkhart averaged 6.68% for the week of 2025-01-10, compared to the national average (all USDA variants) of 6.521% for the same period.

    Elkhart's average USDA mortgage closing costs are $4,415.

    The average rate for the prior week (2025-01-03) was 6.87% and one month ago for the week of 2024-12-06, the average rate was 6.6%.

    The average rate one year ago was 7.04%.

    For refis of the same type during the week of 2025-01-10, the average rate was 7.25%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    EVERETT FINANCIAL, INC. 5 6.95% $6,786
    CARDINAL FINANCIAL 4 7.00% $7,250
    RUOFF MORTGAGE COMPANY, INC. 2 7.25% $3,064
    CHURCHILL MORTGAGE CORPORATION 2 6.38% $5,621
    Paramount Residential Mortgage Group, Inc. 1 6.75% $4,455
    STOCKTON MORTGAGE CORPORATION 1 6.13% $8,244
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.13% $8,677
    UNITED WHOLESALE MORTGAGE, LLC 1 7.50% $5,243
    Bank of England 1 6.25% $8,919
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.63% $5,186
    GUILD MORTGAGE COMPANY 1 6.50% $4,498

    The top Elkhart USDA lender as defined by loan originations is EVERETT FINANCIAL, INC., with 5 USDA loans originated. Their average total fees are $6,786, which is $464 lower than the next largest lender, CARDINAL FINANCIAL.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Elkhart (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 $157,225 (-0.9%) $218,363 (1.7%) 0.58 377
    2018-02-01 $159,500 (0.0%) $224,745 (4.8%) 0.58 325
    2018-03-01 $175,875 (10.6%) $231,866 (4.7%) 0.62 299
    2018-04-01 $178,075 (-1.0%) $234,011 (-2.8%) 0.60 282
    2018-05-01 $187,425 (0.3%) $246,515 (0.8%) 0.63 308
    2018-06-01 $199,900 (10.4%) $263,904 (11.4%) 0.67 363
    2018-07-01 $201,200 (15.0%) $267,147 (13.5%) 0.67 407
    2018-08-01 $202,450 (16.1%) $259,895 (14.0%) 0.68 432
    2018-09-01 $196,900 (12.6%) $252,904 (7.9%) 0.66 447
    2018-10-01 $186,200 (9.6%) $248,630 (5.9%) 0.63 442
    2018-11-01 $189,075 (11.4%) $249,892 (8.7%) 0.64 443
    2018-12-01 $190,900 (19.4%) $244,766 (10.1%) 0.66 410
    2019-01-01 $189,325 (20.4%) $241,491 (10.6%) 0.65 368
    2019-02-01 $197,000 (23.5%) $247,863 (10.3%) 0.67 347
    2019-03-01 $207,957 (18.2%) $268,130 (15.6%) 0.68 309
    2019-04-01 $219,900 (23.5%) $287,754 (23.0%) 0.70 269
    2019-05-01 $219,900 (17.3%) $280,583 (13.8%) 0.69 270
    2019-06-01 $219,975 (10.0%) $277,445 (5.1%) 0.69 295
    2019-07-01 $218,225 (8.5%) $280,206 (4.9%) 0.68 319
    2019-08-01 $207,245 (2.4%) $264,702 (1.9%) 0.66 357
    2019-09-01 $203,114 (3.2%) $255,604 (1.1%) 0.65 380
    2019-10-01 $194,925 (4.7%) $247,521 (-0.5%) 0.63 395
    2019-11-01 $189,500 (0.2%) $239,778 (-4.1%) 0.62 382
    2019-12-01 $184,975 (-3.1%) $233,559 (-4.6%) 0.62 343
    2020-01-01 $189,900 (0.3%) $240,378 (-0.5%) 0.63 309
    2020-02-01 $199,900 (1.5%) $244,567 (-1.3%) 0.65 275
    2020-03-01 $216,425 (4.1%) $271,390 (1.2%) 0.68 239
    2020-04-01 $216,450 (-1.6%) $274,086 (-4.8%) 0.68 240
    2020-05-01 $248,900 (13.2%) $300,822 (7.2%) 0.76 229
    2020-06-01 $265,900 (20.9%) $311,584 (12.3%) 0.78 216
    2020-07-01 $262,400 (20.2%) $319,563 (14.1%) 0.76 204
    2020-08-01 $244,900 (18.2%) $319,841 (20.8%) 0.70 211
    2020-09-01 $225,950 (11.2%) $312,289 (22.2%) 0.65 194
    2020-10-01 $219,900 (12.8%) $297,961 (20.4%) 0.63 209
    2020-11-01 $210,925 (11.3%) $284,886 (18.8%) 0.62 187
    2020-12-01 $200,850 (8.6%) $290,003 (24.2%) 0.60 158
    2021-01-01 $189,900 (0.0%) $285,457 (18.8%) 0.57 126
    2021-02-01 $181,150 (-9.4%) $292,907 (19.8%) 0.53 90
    2021-03-01 $173,700 (-19.7%) $275,318 (1.5%) 0.49 98
    2021-04-01 $149,975 (-30.7%) $260,376 (-5.0%) 0.41 106
    2021-05-01 $139,950 (-43.8%) $264,117 (-12.2%) 0.37 109
    2021-06-01 $237,675 (-10.6%) $307,073 (-1.5%) 0.63 119
    2021-07-01 $249,900 (-4.8%) $324,076 (1.4%) 0.66 124
    2021-08-01 $229,600 (-6.3%) $315,770 (-1.3%) 0.61 132
    2021-09-01 $232,313 (2.8%) $324,153 (3.8%) 0.62 134
    2021-10-01 $224,700 (2.2%) $298,920 (0.3%) 0.60 126
    2021-11-01 $224,750 (6.6%) $299,709 (5.2%) 0.60 118
    2021-12-01 $207,325 (3.2%) $285,781 (-1.5%) 0.56 112
    2022-01-01 $205,000 (8.0%) $292,599 (2.5%) 0.55 86
    2022-02-01 $197,400 (9.0%) $289,353 (-1.2%) 0.51 67
    2022-03-01 $228,300 (31.4%) $295,306 (7.3%) 0.57 72
    2022-04-01 $249,900 (66.6%) $331,466 (27.3%) 0.60 92
    2022-05-01 $259,925 (85.7%) $349,048 (32.2%) 0.59 100
    2022-06-01 $280,825 (18.2%) $357,669 (16.5%) 0.63 142
    2022-07-01 $264,900 (6.0%) $346,773 (7.0%) 0.60 178
    2022-08-01 $255,450 (11.3%) $333,928 (5.8%) 0.59 198
    2022-09-01 $257,425 (10.8%) $335,251 (3.4%) 0.60 196
    2022-10-01 $259,900 (15.7%) $352,497 (17.9%) 0.61 205
    2022-11-01 $266,150 (18.4%) $350,499 (17.0%) 0.64 215
    2022-12-01 $257,900 (24.4%) $335,857 (17.5%) 0.64 191
    2023-01-01 $252,950 (23.4%) $341,954 (16.9%) 0.63 153
    2023-02-01 $260,175 (31.8%) $350,316 (21.1%) 0.63 143
    2023-03-01 $274,700 (20.3%) $350,962 (18.9%) 0.65 157
    2023-04-01 $299,900 (20.0%) $371,857 (12.2%) 0.70 140
    2023-05-01 $282,450 (8.7%) $390,329 (11.8%) 0.64 161
    2023-06-01 $284,950 (1.5%) $394,902 (10.4%) 0.64 182
    2023-07-01 $295,000 (11.4%) $401,194 (15.7%) 0.67 195
    2023-08-01 $284,900 (11.5%) $384,105 (15.0%) 0.65 192
    2023-09-01 $279,900 (8.7%) $363,976 (8.6%) 0.65 241
    2023-10-01 $268,725 (3.4%) $344,583 (-2.3%) 0.63 253
    2023-11-01 $264,500 (-0.6%) $329,879 (-5.9%) 0.63 266
    2023-12-01 $260,000 (0.8%) $315,791 (-6.0%) 0.63 258
    2024-01-01 $262,400 (3.7%) $336,922 (-1.5%) 0.64 246
    2024-02-01 $275,825 (6.0%) $351,115 (0.2%) 0.66 180
    2024-03-01 $295,000 (7.4%) $368,081 (4.9%) 0.69 172
    2024-04-01 $309,900 (3.3%) $395,421 (6.3%) 0.72 173
    2024-05-01 $321,250 (13.7%) $414,934 (6.3%) 0.73 176
    2024-06-01 $320,000 (12.3%) $393,752 (-0.3%) 0.72 199
    2024-07-01 $305,925 (3.7%) $381,001 (-5.0%) 0.70 218
    2024-08-01 $302,400 (6.1%) $368,069 (-4.2%) 0.70 229
    2024-09-01 $298,125 (6.5%) $372,252 (2.3%) 0.70 245
    2024-10-01 $291,450 (8.5%) $360,846 (4.7%) 0.69 283
    2024-11-01 $279,900 (5.8%) $350,009 (6.1%) 0.67 321
    2024-12-01 $275,875 (6.1%) $340,112 (7.7%) 0.00 287
    Elkhart's median listing price for 2024-12-01 was $275,875, a difference of $15,875 (6.1%) versus the prior year and $-4,025 versus the prior month.

    Elkhart's median listing price comes in at 0% of the national average.

    Elkhart's average listing price for 2024-12-01 was $340,112, a difference of $24,321 (7.7%) versus the prior year and $-9,897 versus the prior month.

    For the 2024-12-01 period, Elkhart had 287 MLS listings, a difference of -34 listings (-11%) versus the prior month and 29 listings (11%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Elkhart (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 83 days 1,791 sqft
    2018-02-01 89 days 1,787 sqft
    2018-03-01 59 days 1,848 sqft
    2018-04-01 42 days 1,913 sqft
    2018-05-01 33 days 1,948 sqft
    2018-06-01 32 days 2,066 sqft
    2018-07-01 39 days 2,071 sqft
    2018-08-01 42 days 2,037 sqft
    2018-09-01 42 days 2,041 sqft
    2018-10-01 51 days 2,011 sqft
    2018-11-01 54 days 2,054 sqft
    2018-12-01 63 days 2,075 sqft
    2019-01-01 75 days 2,048 sqft
    2019-02-01 71 days 2,069 sqft
    2019-03-01 58 days 2,205 sqft
    2019-04-01 47 days 2,370 sqft
    2019-05-01 39 days 2,296 sqft
    2019-06-01 37 days 2,342 sqft
    2019-07-01 40 days 2,333 sqft
    2019-08-01 42 days 2,222 sqft
    2019-09-01 47 days 2,115 sqft
    2019-10-01 50 days 2,016 sqft
    2019-11-01 52 days 1,951 sqft
    2019-12-01 64 days 1,860 sqft
    2020-01-01 75 days 1,856 sqft
    2020-02-01 69 days 1,888 sqft
    2020-03-01 49 days 2,048 sqft
    2020-04-01 55 days 1,994 sqft
    2020-05-01 57 days 2,334 sqft
    2020-06-01 40 days 2,323 sqft
    2020-07-01 40 days 2,275 sqft
    2020-08-01 30 days 2,244 sqft
    2020-09-01 37 days 2,108 sqft
    2020-10-01 32 days 2,077 sqft
    2020-11-01 39 days 1,820 sqft
    2020-12-01 52 days 1,801 sqft
    2021-01-01 59 days 1,737 sqft
    2021-02-01 55 days 1,895 sqft
    2021-03-01 25 days 1,746 sqft
    2021-04-01 15 days 1,610 sqft
    2021-05-01 19 days 1,612 sqft
    2021-06-01 13 days 2,166 sqft
    2021-07-01 17 days 2,163 sqft
    2021-08-01 24 days 1,840 sqft
    2021-09-01 24 days 1,887 sqft
    2021-10-01 26 days 1,660 sqft
    2021-11-01 26 days 1,821 sqft
    2021-12-01 43 days 1,650 sqft
    2022-01-01 53 days 1,660 sqft
    2022-02-01 37 days 1,606 sqft
    2022-03-01 30 days 1,684 sqft
    2022-04-01 11 days 1,958 sqft
    2022-05-01 16 days 1,912 sqft
    2022-06-01 17 days 2,043 sqft
    2022-07-01 24 days 1,984 sqft
    2022-08-01 30 days 1,930 sqft
    2022-09-01 31 days 1,900 sqft
    2022-10-01 32 days 1,928 sqft
    2022-11-01 39 days 1,923 sqft
    2022-12-01 47 days 1,820 sqft
    2023-01-01 59 days 1,755 sqft
    2023-02-01 45 days 1,737 sqft
    2023-03-01 37 days 1,767 sqft
    2023-04-01 37 days 1,895 sqft
    2023-05-01 30 days 1,837 sqft
    2023-06-01 26 days 1,950 sqft
    2023-07-01 33 days 1,971 sqft
    2023-08-01 36 days 1,885 sqft
    2023-09-01 35 days 1,995 sqft
    2023-10-01 37 days 1,938 sqft
    2023-11-01 45 days 1,819 sqft
    2023-12-01 50 days 1,799 sqft
    2024-01-01 59 days 1,816 sqft
    2024-02-01 58 days 1,860 sqft
    2024-03-01 39 days 1,911 sqft
    2024-04-01 39 days 1,988 sqft
    2024-05-01 30 days 2,081 sqft
    2024-06-01 30 days 2,060 sqft
    2024-07-01 35 days 2,050 sqft
    2024-08-01 39 days 2,046 sqft
    2024-09-01 39 days 2,090 sqft
    2024-10-01 36 days 2,003 sqft
    2024-11-01 43 days 1,851 sqft
    2024-12-01 0 days 1,830 sqft
    Elkhart's median listing age (time on market) for 2024-12-01 was 0 days. This is -100% shorter than the same period one year ago.

    Elkhart's median square footage for active listings during the 2024-12-01 period was 1,830 sqft. One year prior, the average listing was 1,799 sqft.