Indiana USDA Loan Rates, Closing Costs & Stats

Indiana, PA

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    • 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.

    Indiana's 12 lenders originated 41 USDA loans during 2023. The total origination value was $6,565,000, with an average USDA loan value of $160,122.

    Indiana USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Indiana averaged 7.01% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Indiana's average USDA mortgage closing costs are $5,429.

    The average rate for the prior week (2024-04-12) was 6.76% and one month ago for the week of 2024-03-15, the average rate was 6.55%.

    The average rate one year ago was 6.39%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

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

    Indiana 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 Indiana level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    NORWICH COMMERCIAL GROUP, INC. 16 6.94% $6,608
    PLAZA HOME MORTGAGE, INC. 5 6.10% $7,338
    First Commonwealth Bank 4 6.38% $6,129
    Union Savings Bank 3 6.46% $4,613
    UNITED WHOLESALE MORTGAGE, LLC 2 6.50% $6,162
    RELIANCE FIRST CAPITAL, LLC 2 7.00% $3,766
    STOCKTON MORTGAGE CORPORATION 2 6.88% $11,579
    UNION HOME MORTGAGE CORP. 2 7.06% $6,241
    Citizens Bank 1 7.25% $5,084
    NATIONS RELIABLE LENDING, LLC 1 7.13% $8,021
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $10,586
    AFFORDABLE MORTGAGE ADVISORS, LLC. 1 6.13% $5,739

    The top Indiana USDA lender as defined by loan originations is NORWICH COMMERCIAL GROUP, INC., with 16 USDA loans originated. Their average total fees are $6,608, which is $730 lower than the next largest lender, PLAZA HOME MORTGAGE, INC..

    The lowest fee Indiana USDA lenders (with over 10 loans originated) are NORWICH COMMERCIAL GROUP, INC. ($6,608), .

    The lowest rate Indiana USDA lenders (with over 10 loans originated) are NORWICH COMMERCIAL GROUP, INC. (6.94%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Indiana (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 $108,500 (-8.8%) $155,356 (-5.6%) 0.00 373
    2018-02-01 $111,450 (-7.1%) $155,305 (-10.1%) 0.00 349
    2018-03-01 $115,500 (-7.5%) $156,670 (-11.6%) 0.00 344
    2018-04-01 $122,400 (-4.5%) $159,790 (-8.7%) 0.00 356
    2018-05-01 $129,900 (2.2%) $163,172 (-6.8%) 0.00 380
    2018-06-01 $129,900 (4.0%) $163,626 (-5.6%) 0.00 392
    2018-07-01 $125,575 (0.5%) $161,432 (-5.5%) 0.00 397
    2018-08-01 $124,900 (3.1%) $161,310 (-2.6%) 0.00 416
    2018-09-01 $129,900 (12.0%) $164,923 (2.7%) 0.00 401
    2018-10-01 $128,250 (11.5%) $166,816 (6.0%) 0.00 377
    2018-11-01 $129,225 (12.4%) $168,657 (6.1%) 0.00 364
    2018-12-01 $129,000 (17.3%) $168,330 (6.9%) 0.00 346
    2019-01-01 $129,450 (19.3%) $171,573 (10.4%) 0.00 329
    2019-02-01 $129,900 (16.6%) $169,681 (9.3%) 0.00 314
    2019-03-01 $133,993 (16.0%) $177,778 (13.5%) 0.00 310
    2019-04-01 $140,200 (14.5%) $186,901 (17.0%) 0.00 309
    2019-05-01 $139,900 (7.7%) $182,216 (11.7%) 0.00 311
    2019-06-01 $144,000 (10.9%) $183,903 (12.4%) 0.00 328
    2019-07-01 $139,450 (11.1%) $179,331 (11.1%) 0.00 325
    2019-08-01 $133,936 (7.2%) $175,560 (8.8%) 0.00 326
    2019-09-01 $131,666 (1.4%) $174,387 (5.7%) 0.00 318
    2019-10-01 $129,900 (1.3%) $173,605 (4.1%) 0.00 312
    2019-11-01 $129,900 (0.5%) $176,788 (4.8%) 0.00 308
    2019-12-01 $125,950 (-2.4%) $170,236 (1.1%) 0.00 286
    2020-01-01 $125,000 (-3.4%) $169,501 (-1.2%) 0.00 271
    2020-02-01 $120,950 (-6.9%) $166,422 (-1.9%) 0.00 250
    2020-03-01 $121,175 (-9.6%) $172,538 (-3.0%) 0.00 233
    2020-04-01 $124,950 (-10.9%) $170,253 (-8.9%) 0.00 227
    2020-05-01 $125,000 (-10.7%) $177,602 (-2.5%) 0.00 231
    2020-06-01 $135,925 (-5.6%) $184,967 (0.6%) 0.00 216
    2020-07-01 $131,500 (-5.7%) $186,357 (3.9%) 0.00 220
    2020-08-01 $129,900 (-3.0%) $186,558 (6.3%) 0.00 216
    2020-09-01 $124,925 (-5.1%) $182,619 (4.7%) 0.00 206
    2020-10-01 $124,900 (-3.9%) $185,426 (6.8%) 0.00 194
    2020-11-01 $124,900 (-3.9%) $182,429 (3.2%) 0.00 191
    2020-12-01 $124,900 (-0.8%) $185,261 (8.8%) 0.00 173
    2021-01-01 $124,900 (-0.1%) $186,448 (10.0%) 0.00 168
    2021-02-01 $128,950 (6.6%) $189,529 (13.9%) 0.00 143
    2021-03-01 $122,400 (1.0%) $184,332 (6.8%) 0.00 140
    2021-04-01 $130,300 (4.3%) $198,798 (16.8%) 0.00 121
    2021-05-01 $134,900 (7.9%) $194,718 (9.6%) 0.00 116
    2021-06-01 $139,650 (2.7%) $193,900 (4.8%) 0.00 110
    2021-07-01 $129,900 (-1.2%) $189,450 (1.7%) 0.00 113
    2021-08-01 $127,400 (-1.9%) $183,959 (-1.4%) 0.00 124
    2021-09-01 $132,400 (6.0%) $177,348 (-2.9%) 0.00 131
    2021-10-01 $129,900 (4.0%) $176,469 (-4.8%) 0.00 124
    2021-11-01 $124,450 (-0.4%) $176,899 (-3.0%) 0.00 133
    2021-12-01 $122,350 (-2.0%) $176,118 (-4.9%) 0.00 126
    2022-01-01 $127,000 (1.7%) $177,382 (-4.9%) 0.00 111
    2022-02-01 $113,975 (-11.6%) $167,141 (-11.8%) 0.00 94
    2022-03-01 $127,000 (3.8%) $173,678 (-5.8%) 0.00 87
    2022-04-01 $129,000 (-1.0%) $180,704 (-9.1%) 0.00 74
    2022-05-01 $143,650 (6.5%) $191,978 (-1.4%) 0.00 89
    2022-06-01 $149,450 (7.0%) $192,261 (-0.9%) 0.00 94
    2022-07-01 $149,900 (15.4%) $202,320 (6.8%) 0.00 119
    2022-08-01 $149,900 (17.7%) $204,269 (11.0%) 0.00 112
    2022-09-01 $141,784 (7.1%) $203,886 (15.0%) 0.00 114
    2022-10-01 $137,235 (5.7%) $189,713 (7.5%) 0.00 113
    2022-11-01 $139,675 (12.2%) $187,483 (6.0%) 0.00 108
    2022-12-01 $139,900 (14.3%) $179,659 (2.0%) 0.00 92
    2023-01-01 $137,235 (8.1%) $182,132 (2.7%) 0.00 84
    2023-02-01 $139,000 (22.0%) $193,776 (15.9%) 0.00 82
    2023-03-01 $126,825 (-0.1%) $172,375 (-0.8%) 0.00 75
    2023-04-01 $139,000 (7.8%) $189,971 (5.1%) 0.00 78
    2023-05-01 $162,200 (12.9%) $214,532 (11.8%) 0.00 74
    2023-06-01 $152,250 (1.9%) $211,641 (10.1%) 0.00 79
    2023-07-01 $150,000 (0.1%) $209,922 (3.8%) 0.00 94
    2023-08-01 $148,225 (-1.1%) $251,398 (23.1%) 0.00 86
    2023-09-01 $142,500 (0.5%) $255,584 (25.4%) 0.00 93
    2023-10-01 $143,725 (4.7%) $250,190 (31.9%) 0.00 108
    2023-11-01 $145,000 (3.8%) $242,392 (29.3%) 0.00 116
    2023-12-01 $145,000 (3.7%) $249,555 (38.9%) 0.00 105
    2024-01-01 $152,875 (11.4%) $251,828 (38.3%) 0.00 98
    2024-02-01 $152,875 (10.0%) $248,290 (28.1%) 0.00 84
    2024-03-01 $157,500 (24.2%) $244,822 (42.0%) 0.00 85
    Indiana's median listing price for 2024-03-01 was $157,500, a difference of $30,675 (24.2%) versus the prior year and $4,625 versus the prior month.

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

    Indiana's average listing price for 2024-03-01 was $244,822, a difference of $72,447 (42.0%) versus the prior year and $-3,468 versus the prior month.

    For the 2024-03-01 period, Indiana had 85 MLS listings, a difference of 1 listings (1%) versus the prior month and 10 listings (13%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Indiana (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,603 sqft
    2018-02-01 0 days 1,607 sqft
    2018-03-01 0 days 1,613 sqft
    2018-04-01 0 days 1,575 sqft
    2018-05-01 0 days 1,586 sqft
    2018-06-01 0 days 1,597 sqft
    2018-07-01 0 days 1,636 sqft
    2018-08-01 0 days 1,702 sqft
    2018-09-01 0 days 1,704 sqft
    2018-10-01 0 days 1,666 sqft
    2018-11-01 0 days 1,644 sqft
    2018-12-01 0 days 1,688 sqft
    2019-01-01 0 days 1,652 sqft
    2019-02-01 0 days 1,708 sqft
    2019-03-01 0 days 1,742 sqft
    2019-04-01 0 days 1,754 sqft
    2019-05-01 0 days 1,792 sqft
    2019-06-01 0 days 1,783 sqft
    2019-07-01 0 days 1,705 sqft
    2019-08-01 0 days 1,687 sqft
    2019-09-01 0 days 1,665 sqft
    2019-10-01 0 days 1,637 sqft
    2019-11-01 0 days 1,595 sqft
    2019-12-01 0 days 1,590 sqft
    2020-01-01 0 days 1,586 sqft
    2020-02-01 0 days 1,583 sqft
    2020-03-01 0 days 1,598 sqft
    2020-04-01 0 days 1,626 sqft
    2020-05-01 0 days 1,648 sqft
    2020-06-01 0 days 1,641 sqft
    2020-07-01 0 days 1,595 sqft
    2020-08-01 0 days 1,587 sqft
    2020-09-01 0 days 1,588 sqft
    2020-10-01 0 days 1,591 sqft
    2020-11-01 0 days 1,573 sqft
    2020-12-01 0 days 1,543 sqft
    2021-01-01 0 days 1,540 sqft
    2021-02-01 0 days 1,541 sqft
    2021-03-01 0 days 1,547 sqft
    2021-04-01 0 days 1,632 sqft
    2021-05-01 0 days 1,642 sqft
    2021-06-01 0 days 1,584 sqft
    2021-07-01 0 days 1,639 sqft
    2021-08-01 0 days 1,572 sqft
    2021-09-01 0 days 1,576 sqft
    2021-10-01 0 days 1,547 sqft
    2021-11-01 0 days 1,554 sqft
    2021-12-01 0 days 1,553 sqft
    2022-01-01 0 days 1,564 sqft
    2022-02-01 0 days 1,510 sqft
    2022-03-01 0 days 1,568 sqft
    2022-04-01 0 days 1,632 sqft
    2022-05-01 0 days 1,603 sqft
    2022-06-01 0 days 1,580 sqft
    2022-07-01 0 days 1,589 sqft
    2022-08-01 0 days 1,608 sqft
    2022-09-01 0 days 1,615 sqft
    2022-10-01 0 days 1,549 sqft
    2022-11-01 0 days 1,493 sqft
    2022-12-01 0 days 1,440 sqft
    2023-01-01 0 days 1,577 sqft
    2023-02-01 0 days 1,634 sqft
    2023-03-01 0 days 1,600 sqft
    2023-04-01 0 days 1,576 sqft
    2023-05-01 0 days 1,628 sqft
    2023-06-01 0 days 1,576 sqft
    2023-07-01 0 days 1,568 sqft
    2023-08-01 0 days 1,520 sqft
    2023-09-01 0 days 1,525 sqft
    2023-10-01 0 days 1,519 sqft
    2023-11-01 0 days 1,624 sqft
    2023-12-01 0 days 1,609 sqft
    2024-01-01 0 days 1,626 sqft
    2024-02-01 0 days 1,503 sqft
    2024-03-01 0 days 1,538 sqft
    Indiana's median listing age (time on market) for 2024-03-01 was 0 days.

    Indiana's median square footage for active listings during the 2024-03-01 period was 1,538 sqft. One year prior, the average listing was 1,600 sqft.