Frankfort USDA Loan Rates, Closing Costs & Stats

Frankfort, 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.

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 6.86% for the week of 2024-06-07, compared to the national average (all USDA variants) of 6.699% for the same period.

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

The average rate for the prior week (2024-05-31) was 7.04% and one month ago for the week of 2024-05-03, the average rate was 6.93%.

The average rate one year ago was 7.13%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.6%.

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
Frankfort's median listing price for 2024-05-01 was $232,500, a difference of $-2,475 (-1.1%) versus the prior year and $-14,500 versus the prior month.

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

Frankfort's average listing price for 2024-05-01 was $240,823, a difference of $-21,685 (-8.3%) versus the prior year and $-14,451 versus the prior month.

For the 2024-05-01 period, Frankfort had 32 MLS listings, a difference of 2 listings (7%) versus the prior month and 8 listings (33%) 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
Frankfort's median listing age (time on market) for 2024-05-01 was 0 days.

Frankfort's median square footage for active listings during the 2024-05-01 period was 1,622 sqft. One year prior, the average listing was 1,796 sqft.