Madison USDA Loan Rates, Closing Costs & Stats

Madison, 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.

    Madison's 11 lenders originated 26 USDA loans during 2023. The total origination value was $4,730,000, with an average USDA loan value of $181,923.

    Madison USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Madison averaged 6.57% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Madison's average USDA mortgage closing costs are $4,047.

    The average rate for the prior week (2025-02-07) was 6.53% and one month ago for the week of 2025-01-10, the average rate was 6.57%.

    The average rate one year ago was 6.46%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.33%.

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

    Madison 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 Madison level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    RUOFF MORTGAGE COMPANY, INC. 7 6.75% $2,773
    Century Mortgage Company DBA Century Lending Company 4 6.50% $8,615
    FAIR WAY LENDING LLC 4 6.40% $5,887
    GENEVA FINANCIAL, LLC 3 6.54% $8,097
    GVC MORTGAGE, INC. 2 7.25% $10,080
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $5,719
    UNION HOME MORTGAGE CORP. 1 5.25% $6,491
    First Financial Bank 1 6.88% $3,863
    German American Bank 1 6.38% $4,124
    Meridian Bank Corporation 1 7.75% $7,157
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $8,106

    The top Madison USDA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 7 USDA loans originated. Their average total fees are $2,773, which is $5,841 lower than the next largest lender, Century Mortgage Company DBA Century Lending Company.

    The lowest fee Madison USDA lenders (with over 10 loans originated) are .

    The lowest rate Madison USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Madison (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 $159,900 (25.0%) $195,957 (31.9%) 0.00 114
    2018-02-01 $161,150 (24.1%) $196,776 (32.2%) 0.00 118
    2018-03-01 $159,900 (19.1%) $195,223 (21.7%) 0.00 124
    2018-04-01 $162,175 (17.6%) $202,092 (18.4%) 0.00 117
    2018-05-01 $161,425 (17.1%) $198,780 (13.0%) 0.00 114
    2018-06-01 $163,000 (13.0%) $202,034 (11.5%) 0.00 114
    2018-07-01 $167,150 (15.3%) $215,285 (17.5%) 0.00 121
    2018-08-01 $166,550 (11.1%) $216,751 (21.6%) 0.00 125
    2018-09-01 $166,950 (4.4%) $224,093 (19.9%) 0.00 133
    2018-10-01 $162,950 (2.2%) $225,594 (18.0%) 0.00 129
    2018-11-01 $161,475 (7.7%) $221,087 (17.4%) 0.00 117
    2018-12-01 $164,900 (10.0%) $220,268 (18.4%) 0.00 111
    2019-01-01 $176,800 (10.6%) $221,023 (12.8%) 0.00 110
    2019-02-01 $174,900 (8.5%) $223,472 (13.6%) 0.00 98
    2019-03-01 $176,186 (10.2%) $226,920 (16.2%) 0.00 100
    2019-04-01 $189,900 (17.1%) $230,778 (14.2%) 0.00 101
    2019-05-01 $189,900 (17.6%) $226,672 (14.0%) 0.00 110
    2019-06-01 $192,200 (17.9%) $223,786 (10.8%) 0.00 108
    2019-07-01 $188,225 (12.6%) $230,836 (7.2%) 0.00 112
    2019-08-01 $178,418 (7.1%) $220,589 (1.8%) 0.00 123
    2019-09-01 $173,120 (3.7%) $214,984 (-4.1%) 0.00 136
    2019-10-01 $168,500 (3.4%) $210,473 (-6.7%) 0.00 144
    2019-11-01 $162,450 (0.6%) $214,214 (-3.1%) 0.00 128
    2019-12-01 $160,950 (-2.4%) $218,908 (-0.6%) 0.00 124
    2020-01-01 $154,900 (-12.4%) $191,315 (-13.4%) 0.00 120
    2020-02-01 $149,900 (-14.3%) $187,540 (-16.1%) 0.00 115
    2020-03-01 $161,000 (-8.6%) $191,150 (-15.8%) 0.00 109
    2020-04-01 $164,950 (-13.1%) $190,343 (-17.5%) 0.00 100
    2020-05-01 $176,250 (-7.2%) $197,710 (-12.8%) 0.00 97
    2020-06-01 $181,200 (-5.7%) $204,493 (-8.6%) 0.00 89
    2020-07-01 $181,850 (-3.4%) $213,207 (-7.6%) 0.00 80
    2020-08-01 $184,900 (3.6%) $222,791 (1.0%) 0.00 74
    2020-09-01 $184,900 (6.8%) $221,608 (3.1%) 0.00 56
    2020-10-01 $164,900 (-2.1%) $211,398 (0.4%) 0.00 47
    2020-11-01 $167,325 (3.0%) $207,704 (-3.0%) 0.00 54
    2020-12-01 $179,450 (11.5%) $209,776 (-4.2%) 0.00 51
    2021-01-01 $169,900 (9.7%) $206,793 (8.1%) 0.00 44
    2021-02-01 $158,050 (5.4%) $204,200 (8.9%) 0.00 31
    2021-03-01 $174,900 (8.6%) $219,531 (14.9%) 0.00 37
    2021-04-01 $168,700 (2.3%) $215,857 (13.4%) 0.00 33
    2021-05-01 $179,900 (2.1%) $226,669 (14.7%) 0.00 32
    2021-06-01 $181,800 (0.3%) $229,273 (12.1%) 0.00 43
    2021-07-01 $189,450 (4.2%) $232,528 (9.1%) 0.00 56
    2021-08-01 $184,900 (0.0%) $232,816 (4.5%) 0.00 73
    2021-09-01 $207,000 (12.0%) $256,591 (15.8%) 0.00 73
    2021-10-01 $207,000 (25.5%) $257,087 (21.6%) 0.00 66
    2021-11-01 $209,900 (25.4%) $276,168 (33.0%) 0.00 47
    2021-12-01 $237,175 (32.2%) $293,054 (39.7%) 0.00 51
    2022-01-01 $213,700 (25.8%) $272,508 (31.8%) 0.00 58
    2022-02-01 $202,450 (28.1%) $250,289 (22.6%) 0.00 51
    2022-03-01 $223,925 (28.0%) $262,252 (19.5%) 0.00 49
    2022-04-01 $229,450 (36.0%) $291,964 (35.3%) 0.00 41
    2022-05-01 $264,500 (47.0%) $297,057 (31.1%) 0.00 43
    2022-06-01 $239,900 (32.0%) $269,662 (17.6%) 0.00 48
    2022-07-01 $249,900 (31.9%) $278,453 (19.8%) 0.00 67
    2022-08-01 $247,425 (33.8%) $281,333 (20.8%) 0.00 74
    2022-09-01 $254,500 (23.0%) $289,628 (12.9%) 0.00 72
    2022-10-01 $249,000 (20.3%) $302,738 (17.8%) 0.00 79
    2022-11-01 $221,150 (5.4%) $286,656 (3.8%) 0.00 70
    2022-12-01 $259,900 (9.6%) $317,218 (8.3%) 0.00 54
    2023-01-01 $250,950 (17.4%) $329,538 (20.9%) 0.00 54
    2023-02-01 $266,150 (31.5%) $334,543 (33.7%) 0.00 48
    2023-03-01 $265,400 (18.5%) $319,674 (21.9%) 0.00 53
    2023-04-01 $257,400 (12.2%) $324,256 (11.1%) 0.00 51
    2023-05-01 $270,000 (2.1%) $342,875 (15.4%) 0.00 55
    2023-06-01 $293,275 (22.3%) $343,764 (27.5%) 0.00 53
    2023-07-01 $279,900 (12.0%) $335,271 (20.4%) 0.00 60
    2023-08-01 $277,175 (12.0%) $334,944 (19.1%) 0.00 64
    2023-09-01 $289,900 (13.9%) $350,480 (21.0%) 0.00 67
    2023-10-01 $284,900 (14.4%) $357,293 (18.0%) 0.00 71
    2023-11-01 $307,175 (38.9%) $362,693 (26.5%) 0.00 72
    2023-12-01 $294,900 (13.5%) $355,911 (12.2%) 0.00 74
    2024-01-01 $293,675 (17.0%) $339,846 (3.1%) 0.00 61
    2024-02-01 $273,700 (2.8%) $327,508 (-2.1%) 0.00 53
    2024-03-01 $258,500 (-2.6%) $303,567 (-5.0%) 0.00 51
    2024-04-01 $253,675 (-1.5%) $306,672 (-5.4%) 0.00 47
    2024-05-01 $313,650 (16.2%) $328,018 (-4.3%) 0.00 53
    2024-06-01 $297,000 (1.3%) $333,376 (-3.0%) 0.00 60
    2024-07-01 $285,575 (2.0%) $333,513 (-0.5%) 0.00 79
    2024-08-01 $269,950 (-2.6%) $317,149 (-5.3%) 0.00 98
    2024-09-01 $265,000 (-8.6%) $319,435 (-8.9%) 0.00 93
    2024-10-01 $267,475 (-6.1%) $310,020 (-13.2%) 0.00 83
    2024-11-01 $270,000 (-12.1%) $310,730 (-14.3%) 0.00 77
    2024-12-01 $279,000 (-5.4%) $334,926 (-5.9%) 0.00 73
    2025-01-01 $270,975 (-7.7%) $322,718 (-5.0%) 0.00 60
    Madison's median listing price for 2025-01-01 was $270,975, a difference of $-22,700 (-7.7%) versus the prior year and $-8,025 versus the prior month.

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

    Madison's average listing price for 2025-01-01 was $322,718, a difference of $-17,128 (-5.0%) versus the prior year and $-12,208 versus the prior month.

    For the 2025-01-01 period, Madison had 60 MLS listings, a difference of -13 listings (-18%) versus the prior month and -1 listings (-2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Madison (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,934 sqft
    2018-02-01 0 days 1,907 sqft
    2018-03-01 0 days 1,932 sqft
    2018-04-01 0 days 1,931 sqft
    2018-05-01 0 days 1,930 sqft
    2018-06-01 0 days 1,946 sqft
    2018-07-01 0 days 1,956 sqft
    2018-08-01 0 days 1,952 sqft
    2018-09-01 0 days 2,004 sqft
    2018-10-01 0 days 2,034 sqft
    2018-11-01 0 days 2,173 sqft
    2018-12-01 0 days 1,957 sqft
    2019-01-01 0 days 1,875 sqft
    2019-02-01 0 days 1,874 sqft
    2019-03-01 0 days 1,846 sqft
    2019-04-01 0 days 1,879 sqft
    2019-05-01 0 days 1,917 sqft
    2019-06-01 0 days 1,854 sqft
    2019-07-01 0 days 1,862 sqft
    2019-08-01 0 days 1,818 sqft
    2019-09-01 0 days 1,769 sqft
    2019-10-01 0 days 1,710 sqft
    2019-11-01 0 days 1,705 sqft
    2019-12-01 0 days 1,698 sqft
    2020-01-01 0 days 1,688 sqft
    2020-02-01 0 days 1,680 sqft
    2020-03-01 0 days 1,689 sqft
    2020-04-01 0 days 1,592 sqft
    2020-05-01 0 days 1,750 sqft
    2020-06-01 0 days 1,750 sqft
    2020-07-01 0 days 1,750 sqft
    2020-08-01 0 days 1,768 sqft
    2020-09-01 0 days 1,825 sqft
    2020-10-01 0 days 1,663 sqft
    2020-11-01 0 days 1,751 sqft
    2020-12-01 0 days 1,607 sqft
    2021-01-01 0 days 1,560 sqft
    2021-02-01 0 days 1,392 sqft
    2021-03-01 0 days 1,445 sqft
    2021-04-01 0 days 1,466 sqft
    2021-05-01 0 days 1,624 sqft
    2021-06-01 0 days 1,443 sqft
    2021-07-01 0 days 1,462 sqft
    2021-08-01 0 days 1,462 sqft
    2021-09-01 0 days 1,445 sqft
    2021-10-01 0 days 1,514 sqft
    2021-11-01 0 days 1,835 sqft
    2021-12-01 0 days 1,813 sqft
    2022-01-01 0 days 1,786 sqft
    2022-02-01 0 days 1,773 sqft
    2022-03-01 0 days 1,772 sqft
    2022-04-01 0 days 1,800 sqft
    2022-05-01 0 days 1,800 sqft
    2022-06-01 0 days 1,789 sqft
    2022-07-01 0 days 1,800 sqft
    2022-08-01 0 days 1,875 sqft
    2022-09-01 0 days 1,855 sqft
    2022-10-01 0 days 1,846 sqft
    2022-11-01 0 days 1,745 sqft
    2022-12-01 0 days 1,795 sqft
    2023-01-01 0 days 1,708 sqft
    2023-02-01 0 days 1,745 sqft
    2023-03-01 0 days 1,736 sqft
    2023-04-01 0 days 1,800 sqft
    2023-05-01 0 days 1,846 sqft
    2023-06-01 0 days 1,906 sqft
    2023-07-01 0 days 1,872 sqft
    2023-08-01 0 days 1,755 sqft
    2023-09-01 0 days 1,875 sqft
    2023-10-01 0 days 1,801 sqft
    2023-11-01 0 days 1,900 sqft
    2023-12-01 0 days 1,900 sqft
    2024-01-01 0 days 1,836 sqft
    2024-02-01 0 days 1,809 sqft
    2024-03-01 0 days 1,782 sqft
    2024-04-01 0 days 1,788 sqft
    2024-05-01 0 days 1,854 sqft
    2024-06-01 0 days 1,814 sqft
    2024-07-01 0 days 1,855 sqft
    2024-08-01 0 days 1,814 sqft
    2024-09-01 0 days 1,822 sqft
    2024-10-01 0 days 1,827 sqft
    2024-11-01 0 days 1,878 sqft
    2024-12-01 0 days 1,801 sqft
    2025-01-01 0 days 1,659 sqft
    Madison's median listing age (time on market) for 2025-01-01 was 0 days.

    Madison's median square footage for active listings during the 2025-01-01 period was 1,659 sqft. One year prior, the average listing was 1,836 sqft.