Frankfort USDA Loan Rates, Closing Costs & Stats

Frankfort, IN

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Frankfort's 9 lenders originated 18 USDA loans during 2023. The total origination value was $2,910,000, with an average USDA loan value of $161,667.

    Frankfort USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Frankfort averaged 6.46% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

    Frankfort's average USDA mortgage closing costs are $3,216.

    The average rate for the prior week (2024-12-06) was 6.6% and one month ago for the week of 2024-11-08, the average rate was 6.61%.

    The average rate one year ago was 6.88%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.1%.

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

    Frankfort 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 Frankfort level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    RUOFF MORTGAGE COMPANY, INC. 7 6.84% $2,627
    Regions Bank 2 6.75% $4,472
    NEWREZ LLC 2 7.25% $4,809
    RELIANCE FIRST CAPITAL, LLC 1 7.63% $4,734
    THRIVE MORTGAGE, LLC 1 6.38% $4,753
    AMERICAN FINANCIAL NETWORK, INC. 1 7.13% $4,968
    UNITED WHOLESALE MORTGAGE, LLC 1 5.12% $10,053
    Centier Bank 1 7.38% $4,822
    Horizon Bank 1 6.75% $6,173

    The top Frankfort USDA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 7 USDA loans originated. Their average total fees are $2,627, which is $1,845 lower than the next largest lender, Regions Bank.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Frankfort (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 $75,725 (13.2%) $108,400 (13.7%) 0.00 66
    2018-02-01 $75,725 (8.3%) $107,483 (12.7%) 0.00 58
    2018-03-01 $76,000 (1.2%) $114,098 (14.7%) 0.00 53
    2018-04-01 $100,500 (27.2%) $145,837 (32.5%) 0.00 59
    2018-05-01 $97,475 (20.8%) $143,756 (31.0%) 0.00 56
    2018-06-01 $109,900 (27.6%) $145,107 (34.3%) 0.00 59
    2018-07-01 $111,225 (34.2%) $140,821 (22.2%) 0.00 77
    2018-08-01 $121,150 (39.9%) $145,430 (21.5%) 0.00 84
    2018-09-01 $117,450 (38.2%) $146,619 (18.1%) 0.00 68
    2018-10-01 $106,975 (33.8%) $146,521 (25.1%) 0.00 73
    2018-11-01 $132,450 (67.5%) $157,641 (34.9%) 0.00 72
    2018-12-01 $134,950 (71.9%) $152,286 (33.2%) 0.00 70
    2019-01-01 $138,500 (82.9%) $150,714 (39.0%) 0.00 69
    2019-02-01 $134,900 (78.1%) $153,561 (42.9%) 0.00 63
    2019-03-01 $138,043 (81.6%) $158,108 (38.6%) 0.00 53
    2019-04-01 $139,018 (38.3%) $156,875 (7.6%) 0.00 47
    2019-05-01 $138,800 (42.4%) $160,629 (11.7%) 0.00 51
    2019-06-01 $138,772 (26.3%) $150,715 (3.9%) 0.00 52
    2019-07-01 $140,361 (26.2%) $157,178 (11.6%) 0.00 52
    2019-08-01 $135,988 (12.3%) $165,468 (13.8%) 0.00 54
    2019-09-01 $135,714 (15.6%) $174,450 (19.0%) 0.00 58
    2019-10-01 $134,650 (25.9%) $176,521 (20.5%) 0.00 63
    2019-11-01 $129,450 (-2.3%) $165,471 (5.0%) 0.00 54
    2019-12-01 $107,975 (-20.0%) $162,319 (6.6%) 0.00 51
    2020-01-01 $104,850 (-24.3%) $155,750 (3.3%) 0.00 51
    2020-02-01 $94,500 (-30.0%) $150,596 (-1.9%) 0.00 44
    2020-03-01 $82,575 (-40.2%) $141,127 (-10.7%) 0.00 36
    2020-04-01 $90,750 (-34.7%) $146,484 (-6.6%) 0.00 36
    2020-05-01 $115,000 (-17.2%) $151,290 (-5.8%) 0.00 36
    2020-06-01 $119,950 (-13.6%) $163,642 (8.6%) 0.00 38
    2020-07-01 $119,900 (-14.6%) $141,338 (-10.1%) 0.00 29
    2020-08-01 $137,000 (0.7%) $137,629 (-16.8%) 0.00 23
    2020-09-01 $119,900 (-11.7%) $135,613 (-22.3%) 0.00 28
    2020-10-01 $110,450 (-18.0%) $124,323 (-29.6%) 0.00 33
    2020-11-01 $118,900 (-8.2%) $130,819 (-20.9%) 0.00 29
    2020-12-01 $117,450 (8.8%) $125,242 (-22.8%) 0.00 30
    2021-01-01 $129,950 (23.9%) $128,971 (-17.2%) 0.00 27
    2021-02-01 $137,500 (45.5%) $145,584 (-3.3%) 0.00 21
    2021-03-01 $141,200 (71.0%) $154,716 (9.6%) 0.00 14
    2021-04-01 $134,500 (48.2%) $159,747 (9.1%) 0.00 24
    2021-05-01 $136,950 (19.1%) $184,765 (22.1%) 0.00 15
    2021-06-01 $136,950 (14.2%) $198,667 (21.4%) 0.00 17
    2021-07-01 $129,900 (8.3%) $211,881 (49.9%) 0.00 21
    2021-08-01 $171,225 (25.0%) $213,718 (55.3%) 0.00 27
    2021-09-01 $172,450 (43.8%) $201,717 (48.8%) 0.00 35
    2021-10-01 $165,000 (49.4%) $184,151 (48.1%) 0.00 38
    2021-11-01 $170,925 (43.8%) $216,908 (65.8%) 0.00 34
    2021-12-01 $148,925 (26.8%) $203,365 (62.4%) 0.00 36
    2022-01-01 $141,000 (8.5%) $217,751 (68.8%) 0.00 24
    2022-02-01 $141,875 (3.2%) $210,247 (44.4%) 0.00 23
    2022-03-01 $143,125 (1.4%) $197,843 (27.9%) 0.00 24
    2022-04-01 $159,900 (18.9%) $209,917 (31.4%) 0.00 25
    2022-05-01 $158,675 (15.9%) $225,672 (22.1%) 0.00 31
    2022-06-01 $161,225 (17.7%) $225,680 (13.6%) 0.00 37
    2022-07-01 $169,900 (30.8%) $230,602 (8.8%) 0.00 40
    2022-08-01 $175,725 (2.6%) $219,785 (2.8%) 0.00 41
    2022-09-01 $179,075 (3.8%) $218,968 (8.6%) 0.00 33
    2022-10-01 $165,000 (0.0%) $192,812 (4.7%) 0.00 35
    2022-11-01 $177,475 (3.8%) $200,666 (-7.5%) 0.00 34
    2022-12-01 $184,900 (24.2%) $204,916 (0.8%) 0.00 33
    2023-01-01 $174,450 (23.7%) $195,825 (-10.1%) 0.00 29
    2023-02-01 $167,000 (17.7%) $195,767 (-6.9%) 0.00 28
    2023-03-01 $204,500 (42.9%) $224,538 (13.5%) 0.00 24
    2023-04-01 $229,500 (43.5%) $225,167 (7.3%) 0.00 24
    2023-05-01 $234,975 (48.1%) $262,508 (16.3%) 0.00 24
    2023-06-01 $265,500 (64.7%) $277,025 (22.8%) 0.00 25
    2023-07-01 $259,000 (52.4%) $287,096 (24.5%) 0.00 27
    2023-08-01 $219,325 (24.8%) $271,360 (23.5%) 0.00 31
    2023-09-01 $239,700 (33.9%) $267,793 (22.3%) 0.00 31
    2023-10-01 $244,450 (48.2%) $265,830 (37.9%) 0.00 38
    2023-11-01 $230,392 (29.8%) $253,812 (26.5%) 0.00 39
    2023-12-01 $228,233 (23.4%) $252,687 (23.3%) 0.00 31
    2024-01-01 $222,500 (27.5%) $257,857 (31.7%) 0.00 26
    2024-02-01 $248,750 (49.0%) $257,963 (31.8%) 0.00 23
    2024-03-01 $265,000 (29.6%) $275,840 (22.9%) 0.00 26
    2024-04-01 $247,000 (7.6%) $255,274 (13.4%) 0.00 30
    2024-05-01 $232,500 (-1.1%) $240,823 (-8.3%) 0.00 32
    2024-06-01 $222,500 (-16.2%) $239,332 (-13.6%) 0.00 47
    2024-07-01 $212,500 (-18.0%) $240,254 (-16.3%) 0.00 45
    2024-08-01 $242,500 (10.6%) $258,498 (-4.7%) 0.00 43
    2024-09-01 $247,500 (3.3%) $268,783 (0.4%) 0.00 39
    2024-10-01 $237,000 (-3.1%) $245,325 (-7.7%) 0.00 36
    2024-11-01 $245,000 (6.3%) $262,041 (3.2%) 0.00 47
    Frankfort's median listing price for 2024-11-01 was $245,000, a difference of $14,608 (6.3%) versus the prior year and $8,000 versus the prior month.

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

    Frankfort's average listing price for 2024-11-01 was $262,041, a difference of $8,229 (3.2%) versus the prior year and $16,716 versus the prior month.

    For the 2024-11-01 period, Frankfort had 47 MLS listings, a difference of 11 listings (31%) versus the prior month and 8 listings (21%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Frankfort (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,526 sqft
    2018-02-01 0 days 1,533 sqft
    2018-03-01 0 days 1,543 sqft
    2018-04-01 0 days 1,829 sqft
    2018-05-01 0 days 1,823 sqft
    2018-06-01 0 days 1,693 sqft
    2018-07-01 0 days 1,530 sqft
    2018-08-01 0 days 1,777 sqft
    2018-09-01 0 days 1,824 sqft
    2018-10-01 0 days 1,816 sqft
    2018-11-01 0 days 1,908 sqft
    2018-12-01 0 days 1,954 sqft
    2019-01-01 0 days 1,968 sqft
    2019-02-01 0 days 1,935 sqft
    2019-03-01 0 days 1,912 sqft
    2019-04-01 0 days 1,850 sqft
    2019-05-01 0 days 2,010 sqft
    2019-06-01 0 days 1,792 sqft
    2019-07-01 0 days 1,736 sqft
    2019-08-01 0 days 1,714 sqft
    2019-09-01 0 days 1,733 sqft
    2019-10-01 0 days 1,748 sqft
    2019-11-01 0 days 1,729 sqft
    2019-12-01 0 days 1,699 sqft
    2020-01-01 0 days 1,648 sqft
    2020-02-01 0 days 1,722 sqft
    2020-03-01 0 days 1,736 sqft
    2020-04-01 0 days 1,770 sqft
    2020-05-01 0 days 1,807 sqft
    2020-06-01 0 days 2,064 sqft
    2020-07-01 0 days 1,978 sqft
    2020-08-01 0 days 1,904 sqft
    2020-09-01 0 days 1,584 sqft
    2020-10-01 0 days 1,581 sqft
    2020-11-01 0 days 1,657 sqft
    2020-12-01 0 days 1,668 sqft
    2021-01-01 0 days 1,656 sqft
    2021-02-01 0 days 1,969 sqft
    2021-03-01 0 days 1,820 sqft
    2021-04-01 0 days 1,798 sqft
    2021-05-01 0 days 1,750 sqft
    2021-06-01 0 days 1,590 sqft
    2021-07-01 0 days 1,640 sqft
    2021-08-01 0 days 1,748 sqft
    2021-09-01 0 days 1,826 sqft
    2021-10-01 0 days 1,622 sqft
    2021-11-01 0 days 1,656 sqft
    2021-12-01 0 days 1,622 sqft
    2022-01-01 0 days 1,715 sqft
    2022-02-01 0 days 1,499 sqft
    2022-03-01 0 days 1,446 sqft
    2022-04-01 0 days 1,574 sqft
    2022-05-01 0 days 1,607 sqft
    2022-06-01 0 days 1,625 sqft
    2022-07-01 0 days 1,820 sqft
    2022-08-01 0 days 1,696 sqft
    2022-09-01 0 days 1,652 sqft
    2022-10-01 0 days 1,646 sqft
    2022-11-01 0 days 1,726 sqft
    2022-12-01 0 days 1,714 sqft
    2023-01-01 0 days 1,691 sqft
    2023-02-01 0 days 1,598 sqft
    2023-03-01 0 days 1,712 sqft
    2023-04-01 0 days 1,691 sqft
    2023-05-01 0 days 1,796 sqft
    2023-06-01 0 days 1,806 sqft
    2023-07-01 0 days 1,824 sqft
    2023-08-01 0 days 1,829 sqft
    2023-09-01 0 days 1,795 sqft
    2023-10-01 0 days 1,804 sqft
    2023-11-01 0 days 1,783 sqft
    2023-12-01 0 days 1,749 sqft
    2024-01-01 0 days 1,751 sqft
    2024-02-01 0 days 1,771 sqft
    2024-03-01 0 days 1,772 sqft
    2024-04-01 0 days 1,636 sqft
    2024-05-01 0 days 1,622 sqft
    2024-06-01 0 days 1,679 sqft
    2024-07-01 0 days 1,685 sqft
    2024-08-01 0 days 1,954 sqft
    2024-09-01 0 days 2,019 sqft
    2024-10-01 0 days 1,824 sqft
    2024-11-01 0 days 1,794 sqft
    Frankfort's median listing age (time on market) for 2024-11-01 was 0 days.

    Frankfort's median square footage for active listings during the 2024-11-01 period was 1,794 sqft. One year prior, the average listing was 1,783 sqft.