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
7.02%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Frankfort's average USDA mortgage closing costs are $3,216.
The average rate for the prior week (2024-04-12) was
6.97% and
one month ago for the week of 2024-03-15, the
average rate was 7.06%.
The average rate one year ago was 6.6%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.86%.
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 |
Frankfort's median listing price comes in at 0% of the national average.
Frankfort's average listing price for 2024-03-01 was $275,840, a difference of $51,302 (22.9%) versus the prior year and $17,877 versus the prior month.
For the 2024-03-01 period, Frankfort had 26 MLS listings, a difference of 3 listings (13%) versus the prior month and 2 listings (8%) 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 |
Frankfort's median square footage for active listings during the 2024-03-01 period was 1,772 sqft. One year prior, the average listing was 1,712 sqft.