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 6.58% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

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

    The average rate for the prior week (2025-02-07) was 6.24% and one month ago for the week of 2025-01-10, the average rate was 6.48%.

    The average rate one year ago was 6.27%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.68%.

    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 $232,076 (29.5%) $309,498 (16.0%) 0.85 4,617
    2018-02-01 $249,445 (35.4%) $321,772 (15.5%) 0.90 4,160
    2018-03-01 $260,400 (25.8%) $336,322 (13.7%) 0.91 4,073
    2018-04-01 $279,950 (27.3%) $355,423 (16.5%) 0.94 4,280
    2018-05-01 $285,000 (24.0%) $361,066 (14.9%) 0.95 4,708
    2018-06-01 $279,900 (19.2%) $354,852 (11.1%) 0.93 5,251
    2018-07-01 $272,500 (18.5%) $345,073 (8.9%) 0.91 5,816
    2018-08-01 $262,450 (14.2%) $335,377 (7.2%) 0.88 6,091
    2018-09-01 $254,900 (11.4%) $329,369 (6.2%) 0.86 6,357
    2018-10-01 $245,519 (9.2%) $317,798 (4.0%) 0.83 6,631
    2018-11-01 $239,900 (6.6%) $317,850 (3.8%) 0.81 6,350
    2018-12-01 $239,900 (6.7%) $314,077 (3.6%) 0.83 5,676
    2019-01-01 $242,431 (4.5%) $317,044 (2.4%) 0.84 5,130
    2019-02-01 $257,400 (3.2%) $332,400 (3.3%) 0.87 4,790
    2019-03-01 $269,229 (3.4%) $348,248 (3.6%) 0.88 4,701
    2019-04-01 $277,450 (-0.9%) $357,290 (0.5%) 0.88 4,535
    2019-05-01 $284,250 (-0.3%) $361,010 (0.0%) 0.88 4,897
    2019-06-01 $279,900 (0.0%) $355,557 (0.2%) 0.87 5,299
    2019-07-01 $279,950 (2.7%) $366,289 (6.2%) 0.88 5,686
    2019-08-01 $271,600 (3.5%) $352,364 (5.1%) 0.86 5,965
    2019-09-01 $266,501 (4.6%) $341,563 (3.7%) 0.85 6,145
    2019-10-01 $263,102 (7.2%) $334,294 (5.2%) 0.84 6,292
    2019-11-01 $259,900 (8.3%) $329,013 (3.5%) 0.85 5,913
    2019-12-01 $256,950 (7.1%) $327,283 (4.2%) 0.85 5,134
    2020-01-01 $265,000 (9.3%) $349,089 (10.1%) 0.89 4,596
    2020-02-01 $273,270 (6.2%) $341,024 (2.6%) 0.88 4,005
    2020-03-01 $279,940 (4.0%) $346,586 (-0.5%) 0.88 3,802
    2020-04-01 $284,900 (2.7%) $343,197 (-3.9%) 0.89 4,016
    2020-05-01 $298,662 (5.1%) $362,265 (0.4%) 0.90 3,798
    2020-06-01 $299,900 (7.2%) $374,453 (5.3%) 0.88 3,473
    2020-07-01 $300,000 (7.2%) $380,250 (3.8%) 0.87 3,328
    2020-08-01 $299,900 (10.4%) $375,194 (6.5%) 0.86 3,170
    2020-09-01 $286,342 (7.5%) $367,410 (7.6%) 0.82 3,204
    2020-10-01 $274,900 (4.5%) $353,066 (5.6%) 0.79 3,318
    2020-11-01 $267,000 (2.7%) $341,674 (3.9%) 0.78 3,231
    2020-12-01 $259,950 (1.2%) $328,294 (0.3%) 0.77 2,772
    2021-01-01 $259,900 (-1.9%) $328,272 (-6.0%) 0.78 2,273
    2021-02-01 $264,525 (-3.2%) $341,631 (0.2%) 0.78 1,759
    2021-03-01 $270,874 (-3.2%) $352,572 (1.7%) 0.77 1,692
    2021-04-01 $274,155 (-3.8%) $363,272 (5.9%) 0.74 1,678
    2021-05-01 $275,000 (-7.9%) $367,942 (1.6%) 0.73 1,748
    2021-06-01 $275,000 (-8.3%) $371,074 (-0.9%) 0.72 2,000
    2021-07-01 $279,250 (-6.9%) $368,082 (-3.2%) 0.74 2,304
    2021-08-01 $279,125 (-6.9%) $370,792 (-1.2%) 0.75 2,434
    2021-09-01 $280,000 (-2.2%) $372,913 (1.5%) 0.75 2,462
    2021-10-01 $275,000 (0.0%) $363,318 (2.9%) 0.73 2,467
    2021-11-01 $269,850 (1.1%) $357,350 (4.6%) 0.72 2,264
    2021-12-01 $277,350 (6.7%) $363,901 (10.9%) 0.75 1,916
    2022-01-01 $279,900 (7.7%) $368,569 (12.3%) 0.75 1,590
    2022-02-01 $292,500 (10.6%) $381,543 (11.7%) 0.76 1,354
    2022-03-01 $297,500 (9.8%) $394,570 (11.9%) 0.75 1,349
    2022-04-01 $299,900 (9.4%) $398,205 (9.6%) 0.72 1,416
    2022-05-01 $318,327 (15.8%) $402,332 (9.4%) 0.73 1,946
    2022-06-01 $320,000 (16.4%) $407,858 (9.9%) 0.71 2,418
    2022-07-01 $325,000 (16.4%) $405,155 (10.1%) 0.73 3,128
    2022-08-01 $312,500 (12.0%) $388,274 (4.7%) 0.72 3,349
    2022-09-01 $300,000 (7.1%) $381,981 (2.4%) 0.70 3,553
    2022-10-01 $300,000 (9.1%) $382,280 (5.2%) 0.71 3,757
    2022-11-01 $297,025 (10.1%) $377,103 (5.5%) 0.71 3,810
    2022-12-01 $294,700 (6.3%) $376,788 (3.5%) 0.73 3,434
    2023-01-01 $289,750 (3.5%) $379,772 (3.0%) 0.72 2,944
    2023-02-01 $302,450 (3.4%) $393,266 (3.1%) 0.73 2,527
    2023-03-01 $316,123 (6.3%) $410,363 (4.0%) 0.74 2,309
    2023-04-01 $333,000 (11.0%) $445,536 (11.9%) 0.77 2,303
    2023-05-01 $349,450 (9.8%) $460,762 (14.5%) 0.79 2,556
    2023-06-01 $349,950 (9.4%) $458,158 (12.3%) 0.79 2,852
    2023-07-01 $349,500 (7.5%) $443,521 (9.5%) 0.79 3,149
    2023-08-01 $337,450 (8.0%) $430,477 (10.9%) 0.77 3,380
    2023-09-01 $329,900 (10.0%) $417,493 (9.3%) 0.77 3,710
    2023-10-01 $321,950 (7.3%) $407,383 (6.6%) 0.75 4,106
    2023-11-01 $312,500 (5.2%) $404,539 (7.3%) 0.74 4,139
    2023-12-01 $304,000 (3.2%) $401,119 (6.5%) 0.74 3,695
    2024-01-01 $307,500 (6.1%) $411,220 (8.3%) 0.76 3,144
    2024-02-01 $318,513 (5.3%) $419,614 (6.7%) 0.77 2,843
    2024-03-01 $330,000 (4.4%) $429,086 (4.6%) 0.78 2,850
    2024-04-01 $340,625 (2.3%) $437,933 (-1.7%) 0.79 3,067
    2024-05-01 $349,950 (0.1%) $449,312 (-2.5%) 0.79 3,316
    2024-06-01 $349,900 (0.0%) $448,557 (-2.1%) 0.79 3,662
    2024-07-01 $339,375 (-2.9%) $439,948 (-0.8%) 0.77 4,010
    2024-08-01 $330,000 (-2.2%) $428,840 (-0.4%) 0.77 4,337
    2024-09-01 $324,950 (-1.5%) $422,358 (1.2%) 0.76 4,573
    2024-10-01 $322,400 (0.1%) $416,644 (2.3%) 0.76 4,718
    2024-11-01 $316,000 (1.1%) $402,122 (-0.6%) 0.76 4,721
    2024-12-01 $309,959 (2.0%) $398,342 (-0.7%) 0.77 4,123
    2025-01-01 $300,000 (-2.4%) $396,609 (-3.6%) 0.00 3,689
    Indianapolis's median listing price for 2025-01-01 was $300,000, a difference of $-7,500 (-2.4%) versus the prior year and $-9,959 versus the prior month.

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

    Indianapolis's average listing price for 2025-01-01 was $396,609, a difference of $-14,611 (-3.6%) versus the prior year and $-1,733 versus the prior month.

    For the 2025-01-01 period, Indianapolis had 3,689 MLS listings, a difference of -434 listings (-11%) versus the prior month and 545 listings (17%) 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 2,405 sqft
    2018-02-01 71 days 2,448 sqft
    2018-03-01 50 days 2,530 sqft
    2018-04-01 44 days 2,618 sqft
    2018-05-01 37 days 2,659 sqft
    2018-06-01 39 days 2,651 sqft
    2018-07-01 43 days 2,581 sqft
    2018-08-01 46 days 2,521 sqft
    2018-09-01 50 days 2,459 sqft
    2018-10-01 53 days 2,407 sqft
    2018-11-01 57 days 2,363 sqft
    2018-12-01 71 days 2,333 sqft
    2019-01-01 78 days 2,328 sqft
    2019-02-01 78 days 2,400 sqft
    2019-03-01 63 days 2,456 sqft
    2019-04-01 49 days 2,499 sqft
    2019-05-01 43 days 2,543 sqft
    2019-06-01 44 days 2,540 sqft
    2019-07-01 48 days 2,539 sqft
    2019-08-01 48 days 2,473 sqft
    2019-09-01 51 days 2,442 sqft
    2019-10-01 53 days 2,421 sqft
    2019-11-01 59 days 2,382 sqft
    2019-12-01 70 days 2,344 sqft
    2020-01-01 80 days 2,337 sqft
    2020-02-01 81 days 2,328 sqft
    2020-03-01 50 days 2,350 sqft
    2020-04-01 48 days 2,372 sqft
    2020-05-01 54 days 2,408 sqft
    2020-06-01 47 days 2,418 sqft
    2020-07-01 44 days 2,425 sqft
    2020-08-01 44 days 2,390 sqft
    2020-09-01 42 days 2,290 sqft
    2020-10-01 41 days 2,236 sqft
    2020-11-01 48 days 2,155 sqft
    2020-12-01 54 days 2,085 sqft
    2021-01-01 58 days 2,043 sqft
    2021-02-01 52 days 2,028 sqft
    2021-03-01 39 days 2,062 sqft
    2021-04-01 36 days 2,058 sqft
    2021-05-01 34 days 2,055 sqft
    2021-06-01 31 days 2,070 sqft
    2021-07-01 33 days 2,116 sqft
    2021-08-01 33 days 2,110 sqft
    2021-09-01 36 days 2,089 sqft
    2021-10-01 37 days 2,093 sqft
    2021-11-01 40 days 2,066 sqft
    2021-12-01 44 days 2,050 sqft
    2022-01-01 48 days 2,010 sqft
    2022-02-01 37 days 1,997 sqft
    2022-03-01 32 days 2,037 sqft
    2022-04-01 29 days 2,049 sqft
    2022-05-01 25 days 2,111 sqft
    2022-06-01 26 days 2,166 sqft
    2022-07-01 30 days 2,181 sqft
    2022-08-01 36 days 2,135 sqft
    2022-09-01 39 days 2,098 sqft
    2022-10-01 41 days 2,090 sqft
    2022-11-01 45 days 2,092 sqft
    2022-12-01 53 days 2,094 sqft
    2023-01-01 61 days 2,063 sqft
    2023-02-01 59 days 2,104 sqft
    2023-03-01 46 days 2,110 sqft
    2023-04-01 38 days 2,162 sqft
    2023-05-01 36 days 2,222 sqft
    2023-06-01 36 days 2,219 sqft
    2023-07-01 38 days 2,233 sqft
    2023-08-01 36 days 2,195 sqft
    2023-09-01 39 days 2,160 sqft
    2023-10-01 41 days 2,102 sqft
    2023-11-01 46 days 2,074 sqft
    2023-12-01 57 days 2,027 sqft
    2024-01-01 67 days 2,020 sqft
    2024-02-01 59 days 2,026 sqft
    2024-03-01 42 days 2,070 sqft
    2024-04-01 39 days 2,118 sqft
    2024-05-01 34 days 2,190 sqft
    2024-06-01 35 days 2,182 sqft
    2024-07-01 40 days 2,139 sqft
    2024-08-01 43 days 2,117 sqft
    2024-09-01 45 days 2,080 sqft
    2024-10-01 46 days 2,065 sqft
    2024-11-01 50 days 2,050 sqft
    2024-12-01 60 days 2,014 sqft
    2025-01-01 0 days 1,983 sqft
    Indianapolis's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Indianapolis's median square footage for active listings during the 2025-01-01 period was 1,983 sqft. One year prior, the average listing was 2,020 sqft.