Indianola USDA Loan Rates, Closing Costs & Stats
Indianola, MS
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.
Indianola's 3 lenders originated 4 USDA loans during 2023. The total origination value was $480,000, with an average USDA loan value of $120,000.
Indianola USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Indianola
averaged
7.06%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Indianola's average USDA mortgage closing costs are $4,348.
The average rate for the prior week (2024-04-12) was
6.52% and
one month ago for the week of 2024-03-15, the
average rate was 6.8%.
The average rate one year ago was 6.44%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.76%.
Indianola 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 Indianola level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Community Bank of Mississippi | 2 | 6.98% | $5,226 |
| Flagstar Bank, FSB | 1 | 7.25% | $2,784 |
| Regions Bank | 1 | 5.75% | $5,194 |
The top Indianola USDA lender as defined by loan originations is Community Bank of Mississippi, with
2 USDA loans originated. Their average total fees are
$5,226, which is $2,443
higher than the next largest lender,
Flagstar Bank, FSB.
The lowest fee Indianola USDA lenders (with over 10 loans originated) are
.
The lowest rate Indianola USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Indianola (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 | $49,750 (-21.5%) | $87,609 (22.8%) | 0.00 | 11 |
| 2018-02-01 | $64,500 (10.3%) | $91,360 (16.9%) | 0.00 | 12 |
| 2018-03-01 | $70,000 (16.4%) | $93,142 (4.0%) | 0.00 | 12 |
| 2018-04-01 | $60,000 (0.0%) | $84,382 (-7.5%) | 0.00 | 11 |
| 2018-05-01 | $94,500 (38.7%) | $100,985 (-14.3%) | 0.00 | 9 |
| 2018-06-01 | $85,000 (6.3%) | $106,836 (-13.0%) | 0.00 | 9 |
| 2018-07-01 | $95,000 (46.2%) | $115,522 (0.5%) | 0.00 | 8 |
| 2018-08-01 | $113,750 (75.0%) | $122,389 (3.1%) | 0.00 | 8 |
| 2018-09-01 | $92,500 (37.0%) | $97,280 (-14.1%) | 0.00 | 10 |
| 2018-10-01 | $92,500 (105.6%) | $115,504 (22.9%) | 0.00 | 13 |
| 2018-11-01 | $88,250 (96.1%) | $115,639 (27.3%) | 0.00 | 17 |
| 2018-12-01 | $85,000 (56.0%) | $116,775 (19.2%) | 0.00 | 23 |
| 2019-01-01 | $78,125 (57.0%) | $109,856 (25.4%) | 0.00 | 26 |
| 2019-02-01 | $81,875 (26.9%) | $118,628 (29.9%) | 0.00 | 23 |
| 2019-03-01 | $75,286 (7.6%) | $115,139 (23.6%) | 0.00 | 21 |
| 2019-04-01 | $74,161 (23.6%) | $106,669 (26.4%) | 0.00 | 20 |
| 2019-05-01 | $80,375 (-15.0%) | $99,660 (-1.3%) | 0.00 | 28 |
| 2019-06-01 | $92,000 (8.2%) | $98,345 (-8.0%) | 0.00 | 20 |
| 2019-07-01 | $90,875 (-4.3%) | $93,729 (-18.9%) | 0.00 | 17 |
| 2019-08-01 | $88,273 (-22.4%) | $91,865 (-24.9%) | 0.00 | 17 |
| 2019-09-01 | $86,432 (-6.6%) | $96,974 (-0.3%) | 0.00 | 20 |
| 2019-10-01 | $85,205 (-7.9%) | $103,524 (-10.4%) | 0.00 | 21 |
| 2019-11-01 | $87,250 (-1.1%) | $111,898 (-3.2%) | 0.00 | 23 |
| 2019-12-01 | $85,000 (0.0%) | $110,730 (-5.2%) | 0.00 | 27 |
| 2020-01-01 | $88,625 (13.4%) | $112,499 (2.4%) | 0.00 | 26 |
| 2020-02-01 | $89,500 (9.3%) | $109,129 (-8.0%) | 0.00 | 28 |
| 2020-03-01 | $83,650 (11.1%) | $101,522 (-11.8%) | 0.00 | 32 |
| 2020-04-01 | $85,000 (14.6%) | $108,029 (1.3%) | 0.00 | 28 |
| 2020-05-01 | $79,000 (-1.7%) | $97,137 (-2.5%) | 0.00 | 26 |
| 2020-06-01 | $78,250 (-15.0%) | $108,149 (10.0%) | 0.00 | 24 |
| 2020-07-01 | $77,500 (-14.7%) | $113,856 (21.5%) | 0.00 | 22 |
| 2020-08-01 | $106,000 (20.1%) | $138,506 (50.8%) | 0.00 | 18 |
| 2020-09-01 | $118,750 (37.4%) | $132,916 (37.1%) | 0.00 | 20 |
| 2020-10-01 | $121,750 (42.9%) | $137,382 (32.7%) | 0.00 | 21 |
| 2020-11-01 | $112,000 (28.4%) | $152,159 (36.0%) | 0.00 | 21 |
| 2020-12-01 | $112,500 (32.4%) | $146,366 (32.2%) | 0.00 | 25 |
| 2021-01-01 | $108,750 (22.7%) | $144,455 (28.4%) | 0.00 | 24 |
| 2021-02-01 | $120,000 (34.1%) | $148,723 (36.3%) | 0.00 | 22 |
| 2021-03-01 | $127,375 (52.3%) | $156,958 (54.6%) | 0.00 | 21 |
| 2021-04-01 | $134,125 (57.8%) | $159,011 (47.2%) | 0.00 | 21 |
| 2021-05-01 | $145,600 (84.3%) | $171,622 (76.7%) | 0.00 | 15 |
| 2021-06-01 | $107,250 (37.1%) | $149,115 (37.9%) | 0.00 | 19 |
| 2021-07-01 | $86,000 (11.0%) | $159,245 (39.9%) | 0.00 | 20 |
| 2021-08-01 | $88,750 (-16.3%) | $134,086 (-3.2%) | 0.00 | 21 |
| 2021-09-01 | $71,225 (-40.0%) | $120,588 (-9.3%) | 0.00 | 18 |
| 2021-10-01 | $157,500 (29.4%) | $154,573 (12.5%) | 0.00 | 10 |
| 2021-11-01 | $125,000 (11.6%) | $154,076 (1.3%) | 0.00 | 11 |
| 2021-12-01 | $89,900 (-20.1%) | $125,556 (-14.2%) | 0.00 | 12 |
| 2022-01-01 | $122,000 (12.2%) | $125,811 (-12.9%) | 0.00 | 15 |
| 2022-02-01 | $121,000 (0.8%) | $108,065 (-27.3%) | 0.00 | 17 |
| 2022-03-01 | $125,000 (-1.9%) | $105,922 (-32.5%) | 0.00 | 14 |
| 2022-04-01 | $145,000 (8.1%) | $140,238 (-11.8%) | 0.00 | 14 |
| 2022-05-01 | $145,000 (-0.4%) | $148,964 (-13.2%) | 0.00 | 17 |
| 2022-06-01 | $139,750 (30.3%) | $152,992 (2.6%) | 0.00 | 14 |
| 2022-07-01 | $139,000 (61.6%) | $140,731 (-11.6%) | 0.00 | 13 |
| 2022-08-01 | $144,250 (62.5%) | $148,011 (10.4%) | 0.00 | 14 |
| 2022-09-01 | $133,450 (87.4%) | $129,480 (7.4%) | 0.00 | 13 |
| 2022-10-01 | $148,000 (-6.0%) | $172,869 (11.8%) | 0.00 | 15 |
| 2022-11-01 | $155,125 (24.1%) | $192,642 (25.0%) | 0.00 | 18 |
| 2022-12-01 | $160,000 (78.0%) | $182,239 (45.2%) | 0.00 | 18 |
| 2023-01-01 | $152,500 (25.0%) | $167,110 (32.8%) | 0.00 | 20 |
| 2023-02-01 | $150,000 (24.0%) | $159,366 (47.5%) | 0.00 | 22 |
| 2023-03-01 | $169,750 (35.8%) | $173,047 (63.4%) | 0.00 | 27 |
| 2023-04-01 | $170,000 (17.2%) | $178,081 (27.0%) | 0.00 | 28 |
| 2023-05-01 | $165,800 (14.3%) | $163,063 (9.5%) | 0.00 | 30 |
| 2023-06-01 | $142,500 (2.0%) | $152,494 (-0.3%) | 0.00 | 33 |
| 2023-07-01 | $145,000 (4.3%) | $153,972 (9.4%) | 0.00 | 29 |
| 2023-08-01 | $162,000 (12.3%) | $378,500 (155.7%) | 0.00 | 31 |
| 2023-09-01 | $162,000 (21.4%) | $394,043 (204.3%) | 0.00 | 28 |
| 2023-10-01 | $157,000 (6.1%) | $397,921 (130.2%) | 0.00 | 28 |
| 2023-11-01 | $154,500 (-0.4%) | $407,917 (111.8%) | 0.00 | 27 |
| 2023-12-01 | $152,500 (-4.7%) | $395,304 (116.9%) | 0.00 | 29 |
| 2024-01-01 | $152,500 (0.0%) | $369,569 (121.2%) | 0.00 | 33 |
| 2024-02-01 | $152,000 (1.3%) | $375,285 (135.5%) | 0.00 | 28 |
| 2024-03-01 | $176,750 (4.1%) | $516,784 (198.6%) | 0.00 | 23 |
Indianola's median listing price comes in at 0% of the national average.
Indianola's average listing price for 2024-03-01 was $516,784, a difference of $343,737 (198.6%) versus the prior year and $141,499 versus the prior month.
For the 2024-03-01 period, Indianola had 23 MLS listings, a difference of -5 listings (-18%) versus the prior month and -4 listings (-15%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Indianola (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 1,309 sqft |
| 2018-02-01 | 0 days | 1,292 sqft |
| 2018-03-01 | 0 days | 1,309 sqft |
| 2018-04-01 | 0 days | 1,596 sqft |
| 2018-05-01 | 0 days | 1,763 sqft |
| 2018-06-01 | 0 days | 1,846 sqft |
| 2018-07-01 | 0 days | 1,855 sqft |
| 2018-08-01 | 0 days | 1,816 sqft |
| 2018-09-01 | 0 days | 1,751 sqft |
| 2018-10-01 | 0 days | 1,749 sqft |
| 2018-11-01 | 0 days | 1,636 sqft |
| 2018-12-01 | 0 days | 1,664 sqft |
| 2019-01-01 | 0 days | 1,718 sqft |
| 2019-02-01 | 0 days | 1,821 sqft |
| 2019-03-01 | 0 days | 1,825 sqft |
| 2019-04-01 | 0 days | 1,744 sqft |
| 2019-05-01 | 0 days | 1,669 sqft |
| 2019-06-01 | 0 days | 1,636 sqft |
| 2019-07-01 | 0 days | 1,632 sqft |
| 2019-08-01 | 0 days | 1,504 sqft |
| 2019-09-01 | 0 days | 1,571 sqft |
| 2019-10-01 | 0 days | 1,710 sqft |
| 2019-11-01 | 0 days | 1,828 sqft |
| 2019-12-01 | 0 days | 1,796 sqft |
| 2020-01-01 | 0 days | 1,793 sqft |
| 2020-02-01 | 0 days | 1,702 sqft |
| 2020-03-01 | 0 days | 1,747 sqft |
| 2020-04-01 | 0 days | 1,786 sqft |
| 2020-05-01 | 0 days | 1,665 sqft |
| 2020-06-01 | 0 days | 1,636 sqft |
| 2020-07-01 | 0 days | 1,551 sqft |
| 2020-08-01 | 0 days | 1,965 sqft |
| 2020-09-01 | 0 days | 1,925 sqft |
| 2020-10-01 | 0 days | 1,925 sqft |
| 2020-11-01 | 0 days | 2,234 sqft |
| 2020-12-01 | 0 days | 2,312 sqft |
| 2021-01-01 | 0 days | 2,058 sqft |
| 2021-02-01 | 0 days | 2,004 sqft |
| 2021-03-01 | 0 days | 1,969 sqft |
| 2021-04-01 | 0 days | 2,178 sqft |
| 2021-05-01 | 0 days | 2,265 sqft |
| 2021-06-01 | 0 days | 2,095 sqft |
| 2021-07-01 | 0 days | 2,050 sqft |
| 2021-08-01 | 0 days | 1,824 sqft |
| 2021-09-01 | 0 days | 1,818 sqft |
| 2021-10-01 | 0 days | 1,828 sqft |
| 2021-11-01 | 0 days | 1,824 sqft |
| 2021-12-01 | 0 days | 1,552 sqft |
| 2022-01-01 | 0 days | 1,606 sqft |
| 2022-02-01 | 0 days | 1,589 sqft |
| 2022-03-01 | 0 days | 1,552 sqft |
| 2022-04-01 | 0 days | 1,785 sqft |
| 2022-05-01 | 0 days | 1,785 sqft |
| 2022-06-01 | 0 days | 1,800 sqft |
| 2022-07-01 | 0 days | 1,589 sqft |
| 2022-08-01 | 0 days | 1,818 sqft |
| 2022-09-01 | 0 days | 1,818 sqft |
| 2022-10-01 | 0 days | 2,193 sqft |
| 2022-11-01 | 0 days | 2,285 sqft |
| 2022-12-01 | 0 days | 2,285 sqft |
| 2023-01-01 | 0 days | 2,028 sqft |
| 2023-02-01 | 0 days | 2,068 sqft |
| 2023-03-01 | 0 days | 2,224 sqft |
| 2023-04-01 | 0 days | 2,225 sqft |
| 2023-05-01 | 0 days | 1,960 sqft |
| 2023-06-01 | 0 days | 1,920 sqft |
| 2023-07-01 | 0 days | 2,058 sqft |
| 2023-08-01 | 0 days | 2,047 sqft |
| 2023-09-01 | 0 days | 2,035 sqft |
| 2023-10-01 | 0 days | 2,090 sqft |
| 2023-11-01 | 0 days | 2,046 sqft |
| 2023-12-01 | 0 days | 2,178 sqft |
| 2024-01-01 | 0 days | 2,178 sqft |
| 2024-02-01 | 0 days | 2,131 sqft |
| 2024-03-01 | 0 days | 2,222 sqft |
Indianola's median square footage for active listings during the 2024-03-01 period was 2,222 sqft. One year prior, the average listing was 2,224 sqft.