Fort Wayne USDA Loans

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 5.21% 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 5.44% and one month ago for the week of 2022-04-08, the average rate was 4.8%.

The average rate one year ago was 3.02%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.19%.

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 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. Total Fees
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 $169,900 (21.4%) $239,791 (-1.8%) 0.63 904
2018-02-01 $176,400 (19.6%) $248,445 (-3.3%) 0.64 855
2018-03-01 $188,000 (8.1%) $267,116 (-10.3%) 0.65 765
2018-04-01 $193,450 (8.1%) $278,525 (7.4%) 0.65 736
2018-05-01 $189,900 (5.6%) $271,480 (5.1%) 0.63 811
2018-06-01 $194,900 (10.0%) $273,985 (10.9%) 0.65 861
2018-07-01 $195,450 (11.7%) $273,237 (10.5%) 0.65 956
2018-08-01 $189,900 (10.2%) $260,944 (3.3%) 0.63 1,017
2018-09-01 $188,945 (8.0%) $256,643 (-0.2%) 0.63 1,090
2018-10-01 $183,950 (8.3%) $254,678 (-1.2%) 0.62 1,083
2018-11-01 $179,900 (8.1%) $249,717 (-1.5%) 0.60 1,065
2018-12-01 $179,900 (12.4%) $252,227 (8.9%) 0.62 924
2019-01-01 $182,400 (7.4%) $253,917 (5.9%) 0.63 832
2019-02-01 $198,900 (12.8%) $271,460 (9.3%) 0.67 720
2019-03-01 $214,900 (14.3%) $274,931 (2.9%) 0.70 627
2019-04-01 $232,936 (20.4%) $274,844 (-1.3%) 0.73 529
2019-05-01 $231,900 (22.1%) $278,610 (2.6%) 0.71 543
2019-06-01 $229,500 (17.8%) $274,541 (0.2%) 0.71 637
2019-07-01 $227,400 (16.4%) $273,818 (0.2%) 0.71 714
2019-08-01 $209,900 (10.5%) $264,216 (1.3%) 0.66 813
2019-09-01 $192,400 (1.8%) $249,724 (-2.7%) 0.61 893
2019-10-01 $198,400 (7.9%) $256,715 (0.8%) 0.63 935
2019-11-01 $189,900 (5.6%) $250,563 (0.3%) 0.61 904
2019-12-01 $193,000 (7.3%) $249,633 (-1.0%) 0.64 810
2020-01-01 $199,307 (9.3%) $250,054 (-1.5%) 0.66 673
2020-02-01 $224,900 (13.1%) $279,587 (3.0%) 0.73 570
2020-03-01 $245,900 (14.4%) $294,062 (7.0%) 0.77 544
2020-04-01 $235,975 (1.3%) $286,644 (4.3%) 0.74 554
2020-05-01 $237,500 (2.4%) $283,684 (1.8%) 0.72 542
2020-06-01 $234,950 (2.4%) $285,912 (4.1%) 0.69 474
2020-07-01 $234,400 (3.1%) $296,154 (8.2%) 0.67 469
2020-08-01 $233,000 (11.0%) $292,682 (10.8%) 0.67 467
2020-09-01 $219,950 (14.3%) $273,308 (9.4%) 0.63 477
2020-10-01 $214,900 (8.3%) $280,501 (9.3%) 0.61 442
2020-11-01 $219,900 (15.8%) $280,541 (12.0%) 0.63 404
2020-12-01 $218,900 (13.4%) $279,930 (12.1%) 0.64 348
2021-01-01 $220,000 (10.4%) $281,192 (12.5%) 0.65 297
2021-02-01 $231,938 (3.1%) $294,684 (5.4%) 0.67 256
2021-03-01 $234,845 (-4.5%) $280,102 (-4.8%) 0.66 231
2021-04-01 $245,395 (4.0%) $298,026 (4.0%) 0.66 198
2021-05-01 $249,900 (5.2%) $303,837 (7.1%) 0.66 210
2021-06-01 $234,124 (-0.4%) $306,497 (7.2%) 0.61 253
2021-07-01 $238,200 (1.6%) $323,369 (9.2%) 0.62 281
2021-08-01 $239,900 (3.0%) $300,417 (2.6%) 0.63 369
2021-09-01 $226,950 (3.2%) $289,568 (6.0%) 0.60 382
2021-10-01 $224,900 (4.7%) $284,860 (1.6%) 0.59 371
2021-11-01 $227,500 (3.5%) $290,974 (3.7%) 0.60 375
2021-12-01 $232,450 (6.2%) $290,286 (3.7%) 0.62 344
2022-01-01 $249,900 (13.6%) $304,434 (8.3%) 0.67 257
2022-02-01 $289,900 (25.0%) $325,185 (10.4%) 0.74 237
2022-03-01 $254,950 (8.6%) $304,904 (8.9%) 0.63 226
2022-04-01 $270,000 (10.0%) $313,486 (5.2%) 0.64 216
Fort Wayne's median listing price for 2022-04-01 was $270,000, a difference of $24,605 (10.0%) versus the prior year and $15,050 versus the prior month.

Fort Wayne's median listing price comes in at 64% of the national average.

Fort Wayne's average listing price for 2022-04-01 was $313,486, a difference of $15,460 (5.2%) versus the prior year and $8,582 versus the prior month.

For the 2022-04-01 period, Fort Wayne had 216 MLS listings, a difference of -10 listings (-4%) versus the prior month and 18 listings (9%) 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 70 days 1,865 sqft
2018-02-01 59 days 1,882 sqft
2018-03-01 48 days 1,960 sqft
2018-04-01 41 days 1,984 sqft
2018-05-01 31 days 1,958 sqft
2018-06-01 31 days 2,031 sqft
2018-07-01 32 days 2,054 sqft
2018-08-01 36 days 1,961 sqft
2018-09-01 40 days 1,956 sqft
2018-10-01 41 days 1,956 sqft
2018-11-01 46 days 1,941 sqft
2018-12-01 59 days 1,922 sqft
2019-01-01 63 days 1,897 sqft
2019-02-01 61 days 1,893 sqft
2019-03-01 63 days 1,901 sqft
2019-04-01 55 days 1,918 sqft
2019-05-01 36 days 1,993 sqft
2019-06-01 35 days 2,006 sqft
2019-07-01 34 days 1,944 sqft
2019-08-01 37 days 1,891 sqft
2019-09-01 42 days 1,853 sqft
2019-10-01 44 days 1,898 sqft
2019-11-01 44 days 1,894 sqft
2019-12-01 50 days 1,881 sqft
2020-01-01 59 days 1,878 sqft
2020-02-01 59 days 1,957 sqft
2020-03-01 39 days 1,981 sqft
2020-04-01 40 days 1,938 sqft
2020-05-01 45 days 1,951 sqft
2020-06-01 42 days 1,949 sqft
2020-07-01 38 days 1,967 sqft
2020-08-01 35 days 1,968 sqft
2020-09-01 34 days 1,895 sqft
2020-10-01 35 days 1,910 sqft
2020-11-01 38 days 1,914 sqft
2020-12-01 40 days 1,865 sqft
2021-01-01 44 days 1,818 sqft
2021-02-01 43 days 1,795 sqft
2021-03-01 40 days 1,776 sqft
2021-04-01 37 days 1,837 sqft
2021-05-01 21 days 1,909 sqft
2021-06-01 14 days 1,878 sqft
2021-07-01 22 days 1,914 sqft
2021-08-01 25 days 1,859 sqft
2021-09-01 30 days 1,833 sqft
2021-10-01 31 days 1,846 sqft
2021-11-01 30 days 1,788 sqft
2021-12-01 40 days 1,724 sqft
2022-01-01 46 days 1,780 sqft
2022-02-01 30 days 1,812 sqft
2022-03-01 30 days 1,776 sqft
2022-04-01 24 days 1,828 sqft
Fort Wayne's median listing age (time on market) for 2022-04-01 was 24 days. This is -35% shorter than the same period one year ago.

Fort Wayne's median square footage for active listings during the 2022-04-01 period was 1,828 sqft. One year prior, the average listing was 1,837 sqft.