Fort Wayne USDA Loan Rates, Closing Costs & Stats

FORT WAYNE, 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.

Fort Wayne's 30 lenders originated 129 USDA loans during 2021. The total origination value was $23,795,000, with an average USDA loan value of $184,457.

Fort Wayne USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Fort Wayne averaged 0.11% for the week of 2022-11-25, compared to the national average (all USDA variants) of 0% for the same period.

Fort Wayne's average USDA mortgage closing costs are $3,525.

The average rate for the prior week (2022-11-18) was 6.66% and one month ago for the week of 2022-10-21, the average rate was 7.18%.

The average rate one year ago was 3.42%.

For refis of the same type during the week of 2022-11-25, the average rate was -0.21%.

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

Fort Wayne 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 Fort Wayne level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
RUOFF MORTGAGE COMPANY, INC. 37 3.17% $3,156
ACADEMY MORTGAGE CORPORATION 15 2.98% $5,850
HALLMARK HOME MORTGAGE, LLC 9 3.11% $4,628
CALIBER HOME LOANS, INC. 7 2.61% $4,881
UNION HOME MORTGAGE CORP. 5 2.95% $4,674
V.I.P. MORTGAGE, INC. 5 3.25% $5,846
GVC MORTGAGE, INC. 5 3.53% $4,967
VAN DYK MORTGAGE CORPORATION 5 3.08% $2,718
Union Savings Bank 5 2.50% $4,412
Fifth Third Bank 4 3.13% $4,573
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 3 2.79% $4,245
PENNYMAC LOAN SERVICES, LLC 2 2.94% $4,590
PLAZA HOME MORTGAGE, INC. 2 3.18% $3,601
POLARIS HOME FUNDING CORP. 2 3.25% $7,094
AMERICAN MORTGAGE SERVICE COMPANY 2 3.19% $3,983
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 3.38% $5,958
MID AMERICA MORTGAGE, INC. 1 2.88% $3,474
Colten Mortgage, LLC 1 3.13% $4,916
CROSSCOUNTRY MORTGAGE, LLC 1 2.99% $4,671
DHI MORTGAGE COMPANY, LTD. 1 3.13% $3,333
First Guaranty Mortgage Corporation 1 2.88% $6,643
LENDUS, LLC 1 2.75% $3,661
MICHIGAN MUTUAL, INC. 1 2.50% $4,830
1st Source Bank 1 3.63% $5,097
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.25% $3,155
Nations Lending Corporation 1 3.25% $4,218
PNC Bank 1 3.13% $3,948
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.38% $5,962
ProFed Federal Credit Union 1 2.88% $3,972
SUCCESS MORTGAGE PARTNERS, INC. 1 3.50% $6,809

The top Fort Wayne USDA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 37 USDA loans originated. Their average total fees are $3,156, which is $2,694 lower than the next largest lender, ACADEMY MORTGAGE CORPORATION.

The lowest fee Fort Wayne USDA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($3,156), ACADEMY MORTGAGE CORPORATION ($5,850), .

The lowest rate Fort Wayne USDA lenders (with over 10 loans originated) are ACADEMY MORTGAGE CORPORATION (2.98%), RUOFF MORTGAGE COMPANY, INC. (3.17%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Fort Wayne (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 $174,950 (18.8%) $246,025 (6.6%) 0.65 853
2018-02-01 $182,700 (15.0%) $256,026 (5.5%) 0.66 815
2018-03-01 $190,272 (2.9%) $276,830 (4.9%) 0.67 715
2018-04-01 $199,200 (3.1%) $290,711 (6.7%) 0.68 687
2018-05-01 $193,268 (0.6%) $284,603 (4.6%) 0.65 756
2018-06-01 $198,250 (5.8%) $284,848 (10.2%) 0.66 787
2018-07-01 $198,950 (8.8%) $283,526 (9.4%) 0.66 895
2018-08-01 $193,808 (7.7%) $270,824 (2.1%) 0.65 963
2018-09-01 $193,085 (7.3%) $267,212 (-0.2%) 0.65 1,016
2018-10-01 $189,900 (7.8%) $264,584 (-1.3%) 0.64 1,019
2018-11-01 $185,435 (7.9%) $260,050 (-1.5%) 0.63 1,008
2018-12-01 $185,000 (8.9%) $261,931 (9.0%) 0.64 878
2019-01-01 $187,400 (7.1%) $263,063 (6.9%) 0.65 792
2019-02-01 $208,450 (14.1%) $282,788 (10.5%) 0.70 687
2019-03-01 $221,043 (16.2%) $283,791 (2.5%) 0.72 608
2019-04-01 $234,043 (17.5%) $281,593 (-3.1%) 0.74 523
2019-05-01 $235,150 (21.7%) $286,116 (0.5%) 0.74 541
2019-06-01 $231,662 (16.9%) $284,189 (-0.2%) 0.72 627
2019-07-01 $229,900 (15.6%) $284,290 (0.3%) 0.72 697
2019-08-01 $221,745 (14.4%) $281,568 (4.0%) 0.70 755
2019-09-01 $209,513 (8.5%) $273,307 (2.3%) 0.67 841
2019-10-01 $199,950 (5.3%) $265,227 (0.2%) 0.65 905
2019-11-01 $199,757 (7.7%) $258,839 (-0.5%) 0.65 881
2019-12-01 $204,808 (10.7%) $261,372 (-0.2%) 0.68 783
2020-01-01 $208,329 (11.2%) $261,546 (-0.6%) 0.70 663
2020-02-01 $234,900 (12.7%) $292,944 (3.6%) 0.77 545
2020-03-01 $251,300 (13.7%) $302,468 (6.6%) 0.79 530
2020-04-01 $241,700 (3.3%) $293,537 (4.2%) 0.76 547
2020-05-01 $239,900 (2.0%) $288,441 (0.8%) 0.73 547
2020-06-01 $239,900 (3.6%) $292,833 (3.0%) 0.71 468
2020-07-01 $237,932 (3.5%) $306,142 (7.7%) 0.69 464
2020-08-01 $234,900 (5.9%) $303,956 (8.0%) 0.67 460
2020-09-01 $224,550 (7.2%) $282,471 (3.4%) 0.64 475
2020-10-01 $219,900 (10.0%) $287,043 (8.2%) 0.63 436
2020-11-01 $220,000 (10.1%) $286,866 (10.8%) 0.64 407
2020-12-01 $219,450 (7.2%) $285,854 (9.4%) 0.65 340
2021-01-01 $220,860 (6.0%) $285,926 (9.3%) 0.66 288
2021-02-01 $230,900 (-1.7%) $293,305 (0.1%) 0.67 256
2021-03-01 $233,714 (-7.0%) $280,306 (-7.3%) 0.66 239
2021-04-01 $245,900 (1.7%) $301,508 (2.7%) 0.67 206
2021-05-01 $245,000 (2.1%) $304,824 (5.7%) 0.65 210
2021-06-01 $227,450 (-5.2%) $303,292 (3.6%) 0.60 255
2021-07-01 $249,900 (5.0%) $335,723 (9.7%) 0.66 298
2021-08-01 $249,900 (6.4%) $309,783 (1.9%) 0.67 369
2021-09-01 $232,369 (3.5%) $297,881 (5.5%) 0.62 377
2021-10-01 $222,450 (1.2%) $284,982 (-0.7%) 0.59 366
2021-11-01 $231,950 (5.4%) $293,311 (2.3%) 0.62 372
2021-12-01 $231,416 (5.5%) $288,126 (0.8%) 0.63 347
2022-01-01 $249,900 (13.2%) $304,133 (6.4%) 0.68 256
2022-02-01 $288,700 (25.0%) $325,807 (11.1%) 0.75 235
2022-03-01 $259,050 (10.8%) $305,831 (9.1%) 0.65 230
2022-04-01 $269,900 (9.8%) $313,351 (3.9%) 0.64 247
2022-05-01 $279,950 (14.3%) $316,544 (3.8%) 0.64 323
2022-06-01 $287,425 (26.4%) $319,394 (5.3%) 0.64 407
2022-07-01 $288,250 (15.4%) $330,640 (-1.5%) 0.65 464
2022-08-01 $297,450 (19.0%) $335,754 (8.4%) 0.69 463
2022-09-01 $299,900 (29.1%) $337,373 (13.3%) 0.70 494
2022-10-01 $295,000 (32.6%) $337,105 (18.3%) 0.69 569
Fort Wayne's median listing price for 2022-10-01 was $295,000, a difference of $72,550 (32.6%) versus the prior year and $-4,900 versus the prior month.

Fort Wayne's median listing price comes in at 69% of the national average.

Fort Wayne's average listing price for 2022-10-01 was $337,105, a difference of $52,123 (18.3%) versus the prior year and $-268 versus the prior month.

For the 2022-10-01 period, Fort Wayne had 569 MLS listings, a difference of 75 listings (15%) versus the prior month and 203 listings (55%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Fort Wayne (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 68 days 1,881 sqft
2018-02-01 58 days 1,902 sqft
2018-03-01 47 days 1,982 sqft
2018-04-01 43 days 2,031 sqft
2018-05-01 31 days 1,990 sqft
2018-06-01 30 days 2,079 sqft
2018-07-01 31 days 2,078 sqft
2018-08-01 35 days 1,987 sqft
2018-09-01 40 days 1,979 sqft
2018-10-01 41 days 1,983 sqft
2018-11-01 45 days 1,972 sqft
2018-12-01 58 days 1,939 sqft
2019-01-01 64 days 1,921 sqft
2019-02-01 61 days 1,925 sqft
2019-03-01 53 days 1,917 sqft
2019-04-01 50 days 1,924 sqft
2019-05-01 32 days 2,009 sqft
2019-06-01 31 days 2,034 sqft
2019-07-01 32 days 1,980 sqft
2019-08-01 34 days 1,961 sqft
2019-09-01 38 days 1,937 sqft
2019-10-01 42 days 1,919 sqft
2019-11-01 43 days 1,909 sqft
2019-12-01 51 days 1,905 sqft
2020-01-01 59 days 1,907 sqft
2020-02-01 60 days 1,979 sqft
2020-03-01 35 days 1,997 sqft
2020-04-01 40 days 1,942 sqft
2020-05-01 42 days 1,977 sqft
2020-06-01 39 days 1,970 sqft
2020-07-01 38 days 1,980 sqft
2020-08-01 33 days 1,971 sqft
2020-09-01 30 days 1,904 sqft
2020-10-01 35 days 1,917 sqft
2020-11-01 35 days 1,912 sqft
2020-12-01 41 days 1,876 sqft
2021-01-01 39 days 1,820 sqft
2021-02-01 39 days 1,782 sqft
2021-03-01 29 days 1,779 sqft
2021-04-01 27 days 1,838 sqft
2021-05-01 15 days 1,890 sqft
2021-06-01 10 days 1,833 sqft
2021-07-01 16 days 1,938 sqft
2021-08-01 23 days 1,878 sqft
2021-09-01 25 days 1,851 sqft
2021-10-01 28 days 1,843 sqft
2021-11-01 27 days 1,801 sqft
2021-12-01 36 days 1,726 sqft
2022-01-01 45 days 1,792 sqft
2022-02-01 24 days 1,797 sqft
2022-03-01 26 days 1,774 sqft
2022-04-01 18 days 1,805 sqft
2022-05-01 16 days 1,893 sqft
2022-06-01 21 days 1,941 sqft
2022-07-01 25 days 1,978 sqft
2022-08-01 26 days 1,936 sqft
2022-09-01 25 days 1,962 sqft
2022-10-01 30 days 1,908 sqft
Fort Wayne's median listing age (time on market) for 2022-10-01 was 30 days. This is 7% longer than the same period one year ago.

Fort Wayne's median square footage for active listings during the 2022-10-01 period was 1,908 sqft. One year prior, the average listing was 1,843 sqft.