Lafayette USDA Loan Rates, Closing Costs & Stats
LAFAYETTE-WEST LAFAYETTE, 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.
Lafayette's 14 lenders originated 19 USDA loans during 2023. The total origination value was $2,945,000, with an average USDA loan value of $155,000.
Lafayette USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Lafayette
averaged
6.53%
for the week of 2025-02-14, compared to the national average (all USDA variants) of
6.526% for the same period.
Lafayette's average USDA mortgage closing costs are $3,697.
The average rate for the prior week (2025-02-07) was
6.89% and
one month ago for the week of 2025-01-10, the
average rate was 6.53%.
The average rate one year ago was 6.93%.
For refis of the same type during the week of 2025-02-14, the average rate
was 7.09%.
Lafayette 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 Lafayette level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| RUOFF MORTGAGE COMPANY, INC. | 4 | 7.00% | $2,707 |
| FAIR WAY LENDING LLC | 3 | 6.79% | $7,614 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 7.25% | $1,716 |
| First Merchants Bank | 1 | 6.38% | $3,716 |
| Flanagan State Bank | 1 | 7.63% | $4,929 |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | 1 | 6.25% | $1,834 |
| GVC MORTGAGE, INC. | 1 | 6.88% | $4,060 |
| Horizon Bank | 1 | 7.50% | $5,103 |
| OPEN MORTGAGE, LLC | 1 | 5.50% | $9,380 |
| Paramount Residential Mortgage Group, Inc. | 1 | 6.13% | $5,167 |
| PLAZA HOME MORTGAGE, INC. | 1 | 6.63% | $4,113 |
| CALIBER HOME LOANS, INC. | 1 | 6.25% | $6,747 |
| THRIVE MORTGAGE, LLC | 1 | 7.13% | $4,608 |
| Century Mortgage Company DBA Century Lending Company | 1 | 6.63% | $5,270 |
The top Lafayette USDA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with
4 USDA loans originated. Their average total fees are
$2,707, which is $4,906
lower than the next largest lender,
FAIR WAY LENDING LLC.
The lowest fee Lafayette USDA lenders (with over 10 loans originated) are
.
The lowest rate Lafayette USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Lafayette (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 | $169,900 (10.4%) | $204,585 (5.0%) | 0.63 | 473 |
| 2018-02-01 | $173,050 (9.3%) | $211,022 (6.4%) | 0.63 | 467 |
| 2018-03-01 | $185,000 (-3.4%) | $217,632 (-0.2%) | 0.65 | 446 |
| 2018-04-01 | $202,400 (1.3%) | $234,073 (2.8%) | 0.69 | 456 |
| 2018-05-01 | $199,450 (-2.7%) | $237,518 (3.1%) | 0.67 | 492 |
| 2018-06-01 | $205,900 (6.2%) | $244,156 (6.0%) | 0.69 | 519 |
| 2018-07-01 | $194,950 (2.9%) | $233,918 (5.3%) | 0.65 | 532 |
| 2018-08-01 | $191,250 (6.3%) | $228,188 (3.1%) | 0.64 | 557 |
| 2018-09-01 | $189,900 (2.7%) | $222,235 (-0.7%) | 0.64 | 558 |
| 2018-10-01 | $179,900 (-1.4%) | $216,223 (-3.6%) | 0.61 | 567 |
| 2018-11-01 | $184,000 (2.3%) | $215,354 (-4.2%) | 0.62 | 528 |
| 2018-12-01 | $189,900 (11.8%) | $217,992 (4.1%) | 0.66 | 459 |
| 2019-01-01 | $196,050 (15.4%) | $221,537 (8.3%) | 0.68 | 397 |
| 2019-02-01 | $197,325 (14.0%) | $221,462 (5.0%) | 0.67 | 378 |
| 2019-03-01 | $216,229 (16.9%) | $237,517 (9.1%) | 0.71 | 339 |
| 2019-04-01 | $238,500 (17.8%) | $256,715 (9.7%) | 0.76 | 295 |
| 2019-05-01 | $256,950 (28.8%) | $278,266 (17.2%) | 0.81 | 321 |
| 2019-06-01 | $250,000 (21.4%) | $278,683 (14.1%) | 0.79 | 330 |
| 2019-07-01 | $248,400 (27.4%) | $273,486 (16.9%) | 0.78 | 343 |
| 2019-08-01 | $236,718 (23.8%) | $266,745 (16.9%) | 0.75 | 362 |
| 2019-09-01 | $224,445 (18.2%) | $258,376 (16.3%) | 0.72 | 385 |
| 2019-10-01 | $216,264 (20.2%) | $252,612 (16.8%) | 0.70 | 399 |
| 2019-11-01 | $205,000 (11.4%) | $239,929 (11.4%) | 0.67 | 354 |
| 2019-12-01 | $201,000 (5.9%) | $240,124 (10.2%) | 0.67 | 275 |
| 2020-01-01 | $202,400 (3.2%) | $234,845 (6.0%) | 0.68 | 230 |
| 2020-02-01 | $235,900 (19.6%) | $258,815 (16.9%) | 0.78 | 242 |
| 2020-03-01 | $262,950 (21.6%) | $277,454 (16.8%) | 0.83 | 247 |
| 2020-04-01 | $238,850 (0.2%) | $268,329 (4.5%) | 0.75 | 271 |
| 2020-05-01 | $244,950 (-4.7%) | $278,531 (0.1%) | 0.74 | 259 |
| 2020-06-01 | $264,925 (6.0%) | $295,390 (6.0%) | 0.78 | 223 |
| 2020-07-01 | $252,450 (1.6%) | $293,058 (7.2%) | 0.73 | 227 |
| 2020-08-01 | $259,900 (9.8%) | $306,620 (15.0%) | 0.74 | 230 |
| 2020-09-01 | $249,200 (11.0%) | $295,138 (14.2%) | 0.71 | 235 |
| 2020-10-01 | $249,900 (15.6%) | $297,011 (17.6%) | 0.72 | 217 |
| 2020-11-01 | $245,725 (19.9%) | $289,388 (20.6%) | 0.72 | 185 |
| 2020-12-01 | $223,650 (11.3%) | $280,043 (16.6%) | 0.67 | 155 |
| 2021-01-01 | $199,450 (-1.5%) | $270,500 (15.2%) | 0.60 | 117 |
| 2021-02-01 | $238,200 (1.0%) | $311,609 (20.4%) | 0.69 | 84 |
| 2021-03-01 | $249,225 (-5.2%) | $305,453 (10.1%) | 0.71 | 90 |
| 2021-04-01 | $259,875 (8.8%) | $311,862 (16.2%) | 0.71 | 97 |
| 2021-05-01 | $239,900 (-2.1%) | $310,652 (11.5%) | 0.64 | 114 |
| 2021-06-01 | $223,725 (-15.6%) | $299,157 (1.3%) | 0.59 | 137 |
| 2021-07-01 | $217,450 (-13.9%) | $286,803 (-2.1%) | 0.57 | 167 |
| 2021-08-01 | $205,725 (-20.8%) | $269,250 (-12.2%) | 0.55 | 178 |
| 2021-09-01 | $216,592 (-13.1%) | $270,136 (-8.5%) | 0.58 | 194 |
| 2021-10-01 | $217,000 (-13.2%) | $275,893 (-7.1%) | 0.58 | 195 |
| 2021-11-01 | $225,750 (-8.1%) | $293,427 (1.4%) | 0.61 | 169 |
| 2021-12-01 | $224,925 (0.6%) | $297,837 (6.4%) | 0.61 | 137 |
| 2022-01-01 | $223,700 (12.2%) | $316,250 (16.9%) | 0.61 | 113 |
| 2022-02-01 | $260,950 (9.6%) | $342,153 (9.8%) | 0.68 | 96 |
| 2022-03-01 | $299,375 (20.1%) | $366,632 (20.0%) | 0.75 | 101 |
| 2022-04-01 | $325,000 (25.1%) | $386,505 (23.9%) | 0.77 | 108 |
| 2022-05-01 | $289,925 (20.9%) | $348,772 (12.3%) | 0.66 | 154 |
| 2022-06-01 | $282,400 (26.2%) | $340,625 (13.9%) | 0.63 | 183 |
| 2022-07-01 | $279,900 (28.7%) | $335,627 (17.0%) | 0.63 | 224 |
| 2022-08-01 | $290,000 (41.0%) | $343,651 (27.6%) | 0.67 | 195 |
| 2022-09-01 | $292,000 (34.8%) | $348,471 (29.0%) | 0.68 | 197 |
| 2022-10-01 | $300,000 (38.3%) | $356,339 (29.2%) | 0.71 | 215 |
| 2022-11-01 | $302,950 (34.2%) | $343,429 (17.0%) | 0.73 | 211 |
| 2022-12-01 | $314,900 (40.0%) | $353,687 (18.8%) | 0.78 | 204 |
| 2023-01-01 | $298,450 (33.4%) | $344,316 (8.9%) | 0.74 | 169 |
| 2023-02-01 | $304,900 (16.8%) | $340,912 (-0.4%) | 0.74 | 142 |
| 2023-03-01 | $288,925 (-3.5%) | $343,139 (-6.4%) | 0.68 | 112 |
| 2023-04-01 | $329,500 (1.4%) | $383,537 (-0.8%) | 0.77 | 106 |
| 2023-05-01 | $333,950 (15.2%) | $391,902 (12.4%) | 0.76 | 126 |
| 2023-06-01 | $354,950 (25.7%) | $399,596 (17.3%) | 0.80 | 144 |
| 2023-07-01 | $351,950 (25.7%) | $389,067 (15.9%) | 0.80 | 177 |
| 2023-08-01 | $331,250 (14.2%) | $351,371 (2.3%) | 0.76 | 180 |
| 2023-09-01 | $292,250 (0.1%) | $333,973 (-4.2%) | 0.68 | 191 |
| 2023-10-01 | $316,225 (5.4%) | $343,503 (-3.6%) | 0.74 | 218 |
| 2023-11-01 | $280,000 (-7.6%) | $332,166 (-3.3%) | 0.67 | 223 |
| 2023-12-01 | $309,500 (-1.7%) | $343,690 (-2.8%) | 0.76 | 178 |
| 2024-01-01 | $313,200 (4.9%) | $344,650 (0.1%) | 0.77 | 155 |
| 2024-02-01 | $320,375 (5.1%) | $364,099 (6.8%) | 0.77 | 134 |
| 2024-03-01 | $329,950 (14.2%) | $379,073 (10.5%) | 0.78 | 145 |
| 2024-04-01 | $326,750 (-0.8%) | $379,048 (-1.2%) | 0.76 | 156 |
| 2024-05-01 | $381,950 (14.4%) | $415,767 (6.1%) | 0.90 | 166 |
| 2024-06-01 | $364,900 (2.8%) | $401,061 (0.4%) | 0.84 | 209 |
| 2024-07-01 | $374,975 (6.5%) | $409,100 (5.2%) | 0.86 | 233 |
| 2024-08-01 | $359,950 (8.7%) | $396,629 (12.9%) | 0.84 | 236 |
| 2024-09-01 | $354,700 (21.4%) | $383,017 (14.7%) | 0.83 | 266 |
| 2024-10-01 | $350,175 (10.7%) | $378,516 (10.2%) | 0.82 | 259 |
| 2024-11-01 | $365,000 (30.4%) | $385,024 (15.9%) | 0.88 | 292 |
| 2024-12-01 | $364,975 (17.9%) | $376,036 (9.4%) | 0.91 | 252 |
| 2025-01-01 | $364,900 (16.5%) | $377,484 (9.5%) | 0.00 | 228 |
Lafayette's median listing price comes in at 0% of the national average.
Lafayette's average listing price for 2025-01-01 was $377,484, a difference of $32,834 (9.5%) versus the prior year and $1,448 versus the prior month.
For the 2025-01-01 period, Lafayette had 228 MLS listings, a difference of -24 listings (-10%) versus the prior month and 73 listings (47%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Lafayette (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 71 days | 1,823 sqft |
| 2018-02-01 | 67 days | 1,885 sqft |
| 2018-03-01 | 46 days | 1,939 sqft |
| 2018-04-01 | 34 days | 2,021 sqft |
| 2018-05-01 | 33 days | 2,019 sqft |
| 2018-06-01 | 37 days | 2,121 sqft |
| 2018-07-01 | 39 days | 2,031 sqft |
| 2018-08-01 | 41 days | 2,023 sqft |
| 2018-09-01 | 47 days | 2,023 sqft |
| 2018-10-01 | 50 days | 1,977 sqft |
| 2018-11-01 | 53 days | 1,950 sqft |
| 2018-12-01 | 64 days | 1,974 sqft |
| 2019-01-01 | 71 days | 1,963 sqft |
| 2019-02-01 | 68 days | 1,908 sqft |
| 2019-03-01 | 48 days | 2,045 sqft |
| 2019-04-01 | 37 days | 2,227 sqft |
| 2019-05-01 | 31 days | 2,278 sqft |
| 2019-06-01 | 37 days | 2,218 sqft |
| 2019-07-01 | 41 days | 2,214 sqft |
| 2019-08-01 | 42 days | 2,187 sqft |
| 2019-09-01 | 44 days | 2,154 sqft |
| 2019-10-01 | 46 days | 2,131 sqft |
| 2019-11-01 | 54 days | 1,996 sqft |
| 2019-12-01 | 65 days | 1,906 sqft |
| 2020-01-01 | 65 days | 1,901 sqft |
| 2020-02-01 | 38 days | 2,034 sqft |
| 2020-03-01 | 38 days | 2,125 sqft |
| 2020-04-01 | 40 days | 2,029 sqft |
| 2020-05-01 | 52 days | 2,127 sqft |
| 2020-06-01 | 47 days | 2,218 sqft |
| 2020-07-01 | 44 days | 2,251 sqft |
| 2020-08-01 | 39 days | 2,232 sqft |
| 2020-09-01 | 34 days | 2,042 sqft |
| 2020-10-01 | 31 days | 2,034 sqft |
| 2020-11-01 | 42 days | 2,027 sqft |
| 2020-12-01 | 45 days | 2,000 sqft |
| 2021-01-01 | 47 days | 1,886 sqft |
| 2021-02-01 | 43 days | 2,067 sqft |
| 2021-03-01 | 21 days | 2,056 sqft |
| 2021-04-01 | 17 days | 2,104 sqft |
| 2021-05-01 | 16 days | 2,008 sqft |
| 2021-06-01 | 17 days | 1,960 sqft |
| 2021-07-01 | 23 days | 1,882 sqft |
| 2021-08-01 | 26 days | 1,841 sqft |
| 2021-09-01 | 22 days | 1,809 sqft |
| 2021-10-01 | 29 days | 1,780 sqft |
| 2021-11-01 | 32 days | 1,841 sqft |
| 2021-12-01 | 41 days | 1,851 sqft |
| 2022-01-01 | 47 days | 1,801 sqft |
| 2022-02-01 | 42 days | 1,827 sqft |
| 2022-03-01 | 29 days | 2,045 sqft |
| 2022-04-01 | 22 days | 2,185 sqft |
| 2022-05-01 | 14 days | 2,121 sqft |
| 2022-06-01 | 21 days | 2,025 sqft |
| 2022-07-01 | 23 days | 2,048 sqft |
| 2022-08-01 | 32 days | 2,082 sqft |
| 2022-09-01 | 31 days | 2,064 sqft |
| 2022-10-01 | 36 days | 2,055 sqft |
| 2022-11-01 | 43 days | 2,073 sqft |
| 2022-12-01 | 52 days | 2,108 sqft |
| 2023-01-01 | 58 days | 2,040 sqft |
| 2023-02-01 | 49 days | 2,033 sqft |
| 2023-03-01 | 38 days | 2,017 sqft |
| 2023-04-01 | 25 days | 2,037 sqft |
| 2023-05-01 | 22 days | 2,137 sqft |
| 2023-06-01 | 22 days | 2,127 sqft |
| 2023-07-01 | 24 days | 2,210 sqft |
| 2023-08-01 | 33 days | 2,034 sqft |
| 2023-09-01 | 36 days | 2,016 sqft |
| 2023-10-01 | 36 days | 2,054 sqft |
| 2023-11-01 | 37 days | 1,899 sqft |
| 2023-12-01 | 45 days | 1,970 sqft |
| 2024-01-01 | 58 days | 1,976 sqft |
| 2024-02-01 | 55 days | 1,990 sqft |
| 2024-03-01 | 29 days | 2,035 sqft |
| 2024-04-01 | 33 days | 2,008 sqft |
| 2024-05-01 | 24 days | 2,147 sqft |
| 2024-06-01 | 25 days | 2,072 sqft |
| 2024-07-01 | 35 days | 2,166 sqft |
| 2024-08-01 | 39 days | 2,199 sqft |
| 2024-09-01 | 40 days | 2,189 sqft |
| 2024-10-01 | 37 days | 2,138 sqft |
| 2024-11-01 | 41 days | 2,166 sqft |
| 2024-12-01 | 52 days | 2,147 sqft |
| 2025-01-01 | 0 days | 2,140 sqft |
Lafayette's median square footage for active listings during the 2025-01-01 period was 2,140 sqft. One year prior, the average listing was 1,976 sqft.