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 11 lenders originated 26 USDA loans during 2024. The total origination value was $4,490,000, with an average USDA loan value of $172,692.

Frankfort USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Frankfort averaged 0.23% for the week of 2025-07-04, compared to the national average (all USDA variants) of 0% for the same period.

Frankfort's average USDA mortgage closing costs are $3,338.

The average rate for the prior week (2025-06-27) was 6.67% and one month ago for the week of 2025-05-30, the average rate was 6.65%.

The average rate one year ago was 7.05%.

For refis of the same type during the week of 2025-07-04, the average rate was 0%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
RUOFF MORTGAGE COMPANY, INC. 11 6.73% $2,428
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.94% $6,994
GVC MORTGAGE, INC. 2 6.44% $7,482
Flanagan State Bank 2 6.63% $7,281
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 6.25% $5,299
CALCON MUTUAL MORTGAGE LLC 1 6.13% $8,798
STOCKTON MORTGAGE CORPORATION 1 6.25% $5,545
HOWARD HANNA FINANCIAL SERVICES, INC. 1 6.50% $4,953
MJW Financial LLC 1 6.63% $5,069
Regions Bank 1 6.13% $5,513
SIBCY CLINE MORTGAGE SERVICES, INC. 1 6.50% $4,335

The top Frankfort USDA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 11 USDA loans originated. Their average total fees are $2,428, which is $4,566 lower than the next largest lender, PRIMELENDING, A PLAINSCAPITAL COMPANY.

The lowest fee Frankfort USDA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($2,428), .

The lowest rate Frankfort USDA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. (6.73%), .