Indianapolis USDA Loan Rates, Closing Costs & Stats

INDIANAPOLIS-CARMEL-ANDERSON, IN

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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.

    Indianapolis's 47 lenders originated 179 USDA loans during 2023. The total origination value was $37,015,000, with an average USDA loan value of $206,788.

    Indianapolis USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Indianapolis averaged -0.15% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

    Indianapolis's average USDA mortgage closing costs are $4,234.

    The average rate for the prior week (2024-11-08) was 6.51% and one month ago for the week of 2024-10-11, the average rate was 5.97%.

    The average rate one year ago was 7.19%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.15%.

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

    Indianapolis 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 Indianapolis level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GVC MORTGAGE, INC. 29 6.77% $7,088
    RUOFF MORTGAGE COMPANY, INC. 19 6.78% $3,023
    CALIBER HOME LOANS, INC. 15 6.42% $5,263
    UNION HOME MORTGAGE CORP. 12 6.74% $6,913
    NEWREZ LLC 9 6.97% $7,572
    HALLMARK HOME MORTGAGE, LLC 7 6.43% $7,225
    VANDERBILT MORTGAGE AND FINANCE, INC. 7 5.63% $13,283
    MJW Financial LLC 5 7.00% $6,645
    CROSSCOUNTRY MORTGAGE, LLC 5 6.38% $7,613
    DHI MORTGAGE COMPANY, LTD. 5 5.40% $4,487
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.30% $6,708
    Wolfe Financial, Inc 4 7.09% $5,533
    BROKER SOLUTIONS, INC. 4 6.75% $7,702
    Blue Ridge Bank 3 6.25% $5,921
    Nations Lending Corporation 3 6.58% $4,184
    FIRST COMMUNITY MORTGAGE, INC. 3 6.75% $5,375
    UNITED WHOLESALE MORTGAGE, LLC 3 5.82% $5,579
    Elements Financial Federal Credit Union 2 6.69% $5,746
    EUSTIS AND AMERICAN MORTGAGE COMPANY 2 6.81% $4,940
    First Option Mortgage, LLC 2 6.75% $7,540
    Flagstar Bank, FSB 2 6.69% $4,119
    Gateway First Bank 2 6.00% $4,753
    LEADERONE FINANCIAL CORPORATION 2 6.63% $7,383
    MICHIGAN MUTUAL, INC. 2 6.38% $8,856
    NVR Mortgage Finance, Inc. 2 6.06% $10,410
    University Bank 2 5.88% $6,014
    Ixonia Bank 1 7.13% $6,252
    CHURCHILL MORTGAGE CORPORATION 1 7.38% $13,573
    LOANDEPOT.COM, LLC 1 6.25% $13,214
    AmRes Corporation 1 7.13% $8,694
    First Financial Bank 1 6.13% $9,898
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.63% $7,233
    FAIR WAY LENDING LLC 1 6.63% $7,019
    EVERETT FINANCIAL, INC. 1 6.38% $4,067
    Bankers' Bank 1 7.00% $4,200
    PLANET HOME LENDING, LLC 1 6.38% $6,862
    PLAZA HOME MORTGAGE, INC. 1 6.25% $7,511
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.75% $6,609
    Sierra Pacific Mortgage Company, Inc. 1 6.99% $5,574
    STOCKTON MORTGAGE CORPORATION 1 6.75% $10,304
    Stock Yards Bank & Trust Company 1 7.13% $6,007
    SUN WEST MORTGAGE COMPANY, INC. 1 6.75% $6,384
    EAGLE HOME MORTGAGE, LLC 1 5.63% $7,408
    German American Bank 1 6.38% $5,632
    FREEDOM MORTGAGE CORPORATION 1 6.75% $5,710
    First Merchants Bank 1 7.75% $2,942
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.63% $9,050

    The top Indianapolis USDA lender as defined by loan originations is GVC MORTGAGE, INC., with 29 USDA loans originated. Their average total fees are $7,088, which is $4,065 higher than the next largest lender, RUOFF MORTGAGE COMPANY, INC..

    The lowest fee Indianapolis USDA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($3,023), CALIBER HOME LOANS, INC. ($5,263), UNION HOME MORTGAGE CORP. ($6,913), GVC MORTGAGE, INC. ($7,088) and .

    The lowest rate Indianapolis USDA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. (6.42%), UNION HOME MORTGAGE CORP. (6.74%), GVC MORTGAGE, INC. (6.77%), RUOFF MORTGAGE COMPANY, INC. (6.78%) and .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Indianapolis (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 $229,950 (28.8%) $308,557 (16.1%) 0.85 4,676
    2018-02-01 $247,450 (35.7%) $320,291 (15.8%) 0.90 4,220
    2018-03-01 $259,900 (26.4%) $334,451 (13.5%) 0.91 4,142
    2018-04-01 $278,450 (26.6%) $353,623 (16.6%) 0.94 4,342
    2018-05-01 $284,950 (24.7%) $360,680 (15.4%) 0.95 4,761
    2018-06-01 $279,900 (19.2%) $354,418 (11.2%) 0.93 5,323
    2018-07-01 $272,400 (18.4%) $344,560 (9.1%) 0.91 5,891
    2018-08-01 $262,412 (14.4%) $334,846 (7.3%) 0.88 6,154
    2018-09-01 $254,900 (12.3%) $329,125 (6.3%) 0.86 6,416
    2018-10-01 $244,500 (8.7%) $317,617 (4.1%) 0.83 6,686
    2018-11-01 $239,900 (6.6%) $317,595 (3.9%) 0.81 6,402
    2018-12-01 $239,900 (7.4%) $313,848 (3.8%) 0.83 5,730
    2019-01-01 $242,400 (5.4%) $316,339 (2.5%) 0.84 5,183
    2019-02-01 $256,695 (3.7%) $331,687 (3.6%) 0.87 4,839
    2019-03-01 $268,037 (3.1%) $347,360 (3.9%) 0.88 4,749
    2019-04-01 $277,450 (-0.4%) $356,448 (0.8%) 0.88 4,582
    2019-05-01 $282,950 (-0.7%) $360,044 (-0.2%) 0.88 4,954
    2019-06-01 $279,900 (0.0%) $354,729 (0.1%) 0.87 5,353
    2019-07-01 $279,900 (2.8%) $365,360 (6.0%) 0.88 5,745
    2019-08-01 $270,909 (3.2%) $351,488 (5.0%) 0.86 6,034
    2019-09-01 $264,773 (3.9%) $340,668 (3.5%) 0.85 6,219
    2019-10-01 $260,682 (6.6%) $333,454 (5.0%) 0.84 6,365
    2019-11-01 $259,900 (8.3%) $328,517 (3.4%) 0.85 5,983
    2019-12-01 $255,750 (6.6%) $326,532 (4.0%) 0.85 5,204
    2020-01-01 $264,945 (9.3%) $348,053 (10.0%) 0.89 4,663
    2020-02-01 $269,945 (5.2%) $339,364 (2.3%) 0.88 4,079
    2020-03-01 $279,495 (4.3%) $345,547 (-0.5%) 0.88 3,854
    2020-04-01 $283,835 (2.3%) $342,457 (-3.9%) 0.89 4,059
    2020-05-01 $297,500 (5.1%) $361,506 (0.4%) 0.90 3,832
    2020-06-01 $299,900 (7.2%) $373,903 (5.4%) 0.88 3,503
    2020-07-01 $300,000 (7.2%) $379,874 (4.0%) 0.87 3,358
    2020-08-01 $299,500 (10.6%) $374,075 (6.4%) 0.86 3,204
    2020-09-01 $285,000 (7.6%) $366,787 (7.7%) 0.82 3,229
    2020-10-01 $274,900 (5.5%) $352,050 (5.6%) 0.79 3,341
    2020-11-01 $266,091 (2.4%) $341,596 (4.0%) 0.78 3,256
    2020-12-01 $259,950 (1.6%) $328,514 (0.6%) 0.77 2,791
    2021-01-01 $260,000 (-1.9%) $328,997 (-5.5%) 0.78 2,291
    2021-02-01 $267,000 (-1.1%) $343,033 (1.1%) 0.78 1,770
    2021-03-01 $271,600 (-2.8%) $353,523 (2.3%) 0.77 1,705
    2021-04-01 $274,950 (-3.1%) $364,250 (6.4%) 0.74 1,689
    2021-05-01 $275,000 (-7.6%) $368,545 (2.0%) 0.73 1,767
    2021-06-01 $275,000 (-8.3%) $372,653 (-0.3%) 0.72 2,013
    2021-07-01 $279,900 (-6.7%) $369,976 (-2.6%) 0.74 2,314
    2021-08-01 $279,849 (-6.6%) $372,386 (-0.5%) 0.75 2,451
    2021-09-01 $280,000 (-1.8%) $374,322 (2.1%) 0.75 2,494
    2021-10-01 $275,000 (0.0%) $364,974 (3.7%) 0.73 2,509
    2021-11-01 $269,950 (1.5%) $358,081 (4.8%) 0.72 2,315
    2021-12-01 $277,250 (6.7%) $364,216 (10.9%) 0.75 1,962
    2022-01-01 $279,000 (7.3%) $367,963 (11.8%) 0.75 1,631
    2022-02-01 $292,423 (9.5%) $380,455 (10.9%) 0.76 1,382
    2022-03-01 $298,950 (10.1%) $394,790 (11.7%) 0.75 1,375
    2022-04-01 $299,999 (9.1%) $399,092 (9.6%) 0.72 1,446
    2022-05-01 $317,749 (15.6%) $402,147 (9.1%) 0.73 1,975
    2022-06-01 $319,950 (16.4%) $407,086 (9.2%) 0.71 2,447
    2022-07-01 $324,967 (16.1%) $404,797 (9.4%) 0.73 3,173
    2022-08-01 $312,450 (11.7%) $387,593 (4.1%) 0.72 3,405
    2022-09-01 $300,000 (7.1%) $381,663 (2.0%) 0.70 3,600
    2022-10-01 $299,999 (9.1%) $381,687 (4.6%) 0.71 3,810
    2022-11-01 $297,000 (10.0%) $377,207 (5.3%) 0.71 3,864
    2022-12-01 $294,900 (6.4%) $376,982 (3.5%) 0.73 3,487
    2023-01-01 $289,750 (3.9%) $380,027 (3.3%) 0.72 2,989
    2023-02-01 $302,400 (3.4%) $392,917 (3.3%) 0.73 2,572
    2023-03-01 $312,675 (4.6%) $408,482 (3.5%) 0.74 2,352
    2023-04-01 $329,900 (10.0%) $442,517 (10.9%) 0.77 2,343
    2023-05-01 $347,000 (9.2%) $458,814 (14.1%) 0.79 2,593
    2023-06-01 $349,913 (9.4%) $456,448 (12.1%) 0.79 2,894
    2023-07-01 $347,250 (6.9%) $441,685 (9.1%) 0.79 3,193
    2023-08-01 $337,450 (8.0%) $430,272 (11.0%) 0.77 3,415
    2023-09-01 $329,900 (10.0%) $417,694 (9.4%) 0.77 3,756
    2023-10-01 $319,950 (6.7%) $407,251 (6.7%) 0.75 4,153
    2023-11-01 $312,500 (5.2%) $404,419 (7.2%) 0.74 4,184
    2023-12-01 $304,900 (3.4%) $401,226 (6.4%) 0.74 3,733
    2024-01-01 $310,097 (7.0%) $412,005 (8.4%) 0.76 3,186
    2024-02-01 $318,950 (5.5%) $419,898 (6.9%) 0.77 2,889
    2024-03-01 $330,000 (5.5%) $428,857 (5.0%) 0.78 2,905
    2024-04-01 $339,750 (3.0%) $436,895 (-1.3%) 0.79 3,126
    2024-05-01 $350,000 (0.9%) $455,709 (-0.7%) 0.79 3,373
    2024-06-01 $352,495 (0.7%) $458,277 (0.4%) 0.79 3,727
    2024-07-01 $339,000 (-2.4%) $439,773 (-0.4%) 0.77 4,082
    2024-08-01 $330,000 (-2.2%) $428,508 (-0.4%) 0.77 4,424
    2024-09-01 $324,950 (-1.5%) $422,038 (1.0%) 0.76 4,649
    2024-10-01 $321,950 (0.6%) $416,445 (2.3%) 0.76 4,797
    Indianapolis's median listing price for 2024-10-01 was $321,950, a difference of $2,000 (0.6%) versus the prior year and $-3,000 versus the prior month.

    Indianapolis's median listing price comes in at 76% of the national average.

    Indianapolis's average listing price for 2024-10-01 was $416,445, a difference of $9,194 (2.3%) versus the prior year and $-5,593 versus the prior month.

    For the 2024-10-01 period, Indianapolis had 4,797 MLS listings, a difference of 148 listings (3%) versus the prior month and 644 listings (16%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Indianapolis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 77 days 2,399 sqft
    2018-02-01 71 days 2,437 sqft
    2018-03-01 50 days 2,520 sqft
    2018-04-01 44 days 2,605 sqft
    2018-05-01 37 days 2,659 sqft
    2018-06-01 39 days 2,640 sqft
    2018-07-01 43 days 2,574 sqft
    2018-08-01 46 days 2,521 sqft
    2018-09-01 50 days 2,458 sqft
    2018-10-01 53 days 2,405 sqft
    2018-11-01 57 days 2,365 sqft
    2018-12-01 71 days 2,336 sqft
    2019-01-01 78 days 2,328 sqft
    2019-02-01 78 days 2,395 sqft
    2019-03-01 63 days 2,451 sqft
    2019-04-01 49 days 2,493 sqft
    2019-05-01 43 days 2,537 sqft
    2019-06-01 44 days 2,538 sqft
    2019-07-01 48 days 2,532 sqft
    2019-08-01 48 days 2,466 sqft
    2019-09-01 51 days 2,431 sqft
    2019-10-01 53 days 2,408 sqft
    2019-11-01 59 days 2,374 sqft
    2019-12-01 70 days 2,337 sqft
    2020-01-01 80 days 2,329 sqft
    2020-02-01 81 days 2,320 sqft
    2020-03-01 50 days 2,345 sqft
    2020-04-01 48 days 2,365 sqft
    2020-05-01 54 days 2,400 sqft
    2020-06-01 47 days 2,408 sqft
    2020-07-01 44 days 2,419 sqft
    2020-08-01 44 days 2,387 sqft
    2020-09-01 42 days 2,287 sqft
    2020-10-01 41 days 2,238 sqft
    2020-11-01 48 days 2,153 sqft
    2020-12-01 54 days 2,084 sqft
    2021-01-01 58 days 2,045 sqft
    2021-02-01 52 days 2,030 sqft
    2021-03-01 39 days 2,063 sqft
    2021-04-01 36 days 2,058 sqft
    2021-05-01 34 days 2,059 sqft
    2021-06-01 31 days 2,070 sqft
    2021-07-01 33 days 2,118 sqft
    2021-08-01 33 days 2,110 sqft
    2021-09-01 36 days 2,091 sqft
    2021-10-01 37 days 2,100 sqft
    2021-11-01 40 days 2,074 sqft
    2021-12-01 44 days 2,057 sqft
    2022-01-01 48 days 2,017 sqft
    2022-02-01 37 days 2,001 sqft
    2022-03-01 32 days 2,040 sqft
    2022-04-01 29 days 2,048 sqft
    2022-05-01 25 days 2,111 sqft
    2022-06-01 26 days 2,166 sqft
    2022-07-01 30 days 2,176 sqft
    2022-08-01 36 days 2,127 sqft
    2022-09-01 39 days 2,094 sqft
    2022-10-01 41 days 2,088 sqft
    2022-11-01 45 days 2,088 sqft
    2022-12-01 53 days 2,088 sqft
    2023-01-01 61 days 2,054 sqft
    2023-02-01 59 days 2,096 sqft
    2023-03-01 46 days 2,105 sqft
    2023-04-01 38 days 2,160 sqft
    2023-05-01 36 days 2,216 sqft
    2023-06-01 36 days 2,218 sqft
    2023-07-01 38 days 2,231 sqft
    2023-08-01 36 days 2,194 sqft
    2023-09-01 39 days 2,159 sqft
    2023-10-01 41 days 2,101 sqft
    2023-11-01 46 days 2,069 sqft
    2023-12-01 57 days 2,028 sqft
    2024-01-01 67 days 2,020 sqft
    2024-02-01 59 days 2,027 sqft
    2024-03-01 42 days 2,064 sqft
    2024-04-01 39 days 2,115 sqft
    2024-05-01 34 days 2,196 sqft
    2024-06-01 35 days 2,200 sqft
    2024-07-01 40 days 2,137 sqft
    2024-08-01 43 days 2,114 sqft
    2024-09-01 45 days 2,082 sqft
    2024-10-01 46 days 2,062 sqft
    Indianapolis's median listing age (time on market) for 2024-10-01 was 46 days. This is 12% longer than the same period one year ago.

    Indianapolis's median square footage for active listings during the 2024-10-01 period was 2,062 sqft. One year prior, the average listing was 2,101 sqft.