Marion USDA Loan Rates, Closing Costs & Stats

Marion, 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.

    Marion's 10 lenders originated 23 USDA loans during 2023. The total origination value was $2,565,000, with an average USDA loan value of $111,522.

    Marion USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Marion averaged 6.91% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Marion's average USDA mortgage closing costs are $3,123.

    The average rate for the prior week (2024-04-12) was 6.86% and one month ago for the week of 2024-03-15, the average rate was 6.84%.

    The average rate one year ago was 6.48%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

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

    Marion 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 Marion level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    RUOFF MORTGAGE COMPANY, INC. 7 7.07% $2,763
    CALIBER HOME LOANS, INC. 4 6.63% $4,897
    UNION HOME MORTGAGE CORP. 4 7.28% $5,727
    Nations Lending Corporation 2 7.44% $2,592
    MOVEMENT MORTGAGE, LLC 1 6.75% $5,738
    AMCAP MORTGAGE, LTD. 1 6.25% $5,674
    NEWREZ LLC 1 7.25% $4,773
    Plains Commerce Bank 1 7.13% $3,142
    LEADERONE FINANCIAL CORPORATION 1 7.13% $4,751
    FLAT BRANCH MORTGAGE, INC. 1 5.63% $3,767

    The top Marion USDA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 7 USDA loans originated. Their average total fees are $2,763, which is $2,134 lower than the next largest lender, CALIBER HOME LOANS, INC..

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Marion (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 $69,900 (-12.1%) $98,698 (1.1%) 0.00 226
    2018-02-01 $69,900 (-11.4%) $99,117 (-1.2%) 0.00 229
    2018-03-01 $69,900 (-7.6%) $98,167 (-2.6%) 0.00 229
    2018-04-01 $69,900 (-6.7%) $97,691 (-3.5%) 0.00 238
    2018-05-01 $69,900 (-8.3%) $103,167 (1.3%) 0.00 251
    2018-06-01 $73,900 (-3.0%) $106,273 (5.7%) 0.00 246
    2018-07-01 $69,900 (-8.6%) $101,705 (-1.2%) 0.00 245
    2018-08-01 $73,450 (-5.8%) $100,099 (-6.6%) 0.00 266
    2018-09-01 $74,900 (-0.1%) $101,500 (-6.7%) 0.00 273
    2018-10-01 $74,925 (0.0%) $102,978 (-4.8%) 0.00 277
    2018-11-01 $72,600 (3.9%) $101,993 (0.3%) 0.00 266
    2018-12-01 $69,900 (3.6%) $100,719 (6.6%) 0.00 251
    2019-01-01 $67,575 (-3.3%) $96,974 (-1.8%) 0.00 246
    2019-02-01 $69,900 (0.0%) $97,787 (-1.3%) 0.00 239
    2019-03-01 $69,357 (-0.8%) $97,555 (-0.6%) 0.00 210
    2019-04-01 $69,457 (-0.6%) $101,529 (3.9%) 0.00 170
    2019-05-01 $61,200 (-12.5%) $100,118 (-3.0%) 0.00 157
    2019-06-01 $60,750 (-17.8%) $100,755 (-5.2%) 0.00 171
    2019-07-01 $74,200 (6.2%) $113,535 (11.6%) 0.00 188
    2019-08-01 $77,291 (5.2%) $117,174 (17.1%) 0.00 197
    2019-09-01 $88,377 (18.0%) $123,296 (21.5%) 0.00 199
    2019-10-01 $93,518 (24.8%) $125,728 (22.1%) 0.00 202
    2019-11-01 $91,100 (25.5%) $125,153 (22.7%) 0.00 217
    2019-12-01 $90,800 (29.9%) $125,367 (24.5%) 0.00 214
    2020-01-01 $83,270 (23.2%) $118,347 (22.0%) 0.00 206
    2020-02-01 $79,900 (14.3%) $115,818 (18.4%) 0.00 189
    2020-03-01 $79,350 (14.4%) $111,377 (14.2%) 0.00 189
    2020-04-01 $79,900 (15.0%) $114,457 (12.7%) 0.00 175
    2020-05-01 $79,900 (30.6%) $115,939 (15.8%) 0.00 149
    2020-06-01 $76,875 (26.5%) $116,491 (15.6%) 0.00 156
    2020-07-01 $78,125 (5.3%) $117,803 (3.8%) 0.00 157
    2020-08-01 $73,900 (-4.4%) $106,727 (-8.9%) 0.00 140
    2020-09-01 $70,950 (-19.7%) $103,860 (-15.8%) 0.00 136
    2020-10-01 $75,300 (-19.5%) $108,619 (-13.6%) 0.00 143
    2020-11-01 $75,375 (-17.3%) $108,905 (-13.0%) 0.00 144
    2020-12-01 $74,675 (-17.8%) $109,849 (-12.4%) 0.00 129
    2021-01-01 $79,000 (-5.1%) $110,068 (-7.0%) 0.00 112
    2021-02-01 $76,975 (-3.7%) $110,036 (-5.0%) 0.00 100
    2021-03-01 $66,300 (-16.5%) $99,808 (-10.4%) 0.00 71
    2021-04-01 $81,150 (1.6%) $100,623 (-12.1%) 0.00 52
    2021-05-01 $79,900 (0.0%) $105,505 (-9.0%) 0.00 53
    2021-06-01 $81,175 (5.6%) $102,478 (-12.0%) 0.00 51
    2021-07-01 $82,450 (5.5%) $105,159 (-10.7%) 0.00 60
    2021-08-01 $89,200 (20.7%) $119,875 (12.3%) 0.00 76
    2021-09-01 $89,350 (25.9%) $124,606 (20.0%) 0.00 82
    2021-10-01 $84,900 (12.8%) $120,783 (11.2%) 0.00 77
    2021-11-01 $77,925 (3.4%) $119,123 (9.4%) 0.00 84
    2021-12-01 $87,500 (17.2%) $125,363 (14.1%) 0.00 78
    2022-01-01 $82,854 (4.9%) $111,646 (1.4%) 0.00 66
    2022-02-01 $81,825 (6.3%) $112,824 (2.5%) 0.00 51
    2022-03-01 $72,900 (10.0%) $109,029 (9.2%) 0.00 53
    2022-04-01 $75,500 (-7.0%) $112,314 (11.6%) 0.00 55
    2022-05-01 $80,575 (0.8%) $127,536 (20.9%) 0.00 63
    2022-06-01 $82,450 (1.6%) $125,882 (22.8%) 0.00 72
    2022-07-01 $89,000 (7.9%) $133,278 (26.7%) 0.00 85
    2022-08-01 $97,625 (9.5%) $127,714 (6.5%) 0.00 93
    2022-09-01 $99,950 (11.9%) $141,525 (13.6%) 0.00 104
    2022-10-01 $99,900 (17.7%) $132,170 (9.4%) 0.00 104
    2022-11-01 $102,050 (31.0%) $140,254 (17.7%) 0.00 104
    2022-12-01 $104,900 (19.9%) $137,877 (10.0%) 0.00 105
    2023-01-01 $79,900 (-3.6%) $113,045 (1.3%) 0.00 91
    2023-02-01 $74,425 (-9.0%) $110,832 (-1.8%) 0.00 85
    2023-03-01 $77,400 (6.2%) $111,905 (2.6%) 0.00 75
    2023-04-01 $92,500 (22.5%) $141,349 (25.9%) 0.00 58
    2023-05-01 $99,900 (24.0%) $149,165 (17.0%) 0.00 62
    2023-06-01 $97,450 (18.2%) $155,425 (23.5%) 0.00 66
    2023-07-01 $99,900 (12.3%) $146,846 (10.2%) 0.00 63
    2023-08-01 $111,000 (13.7%) $141,945 (11.1%) 0.00 69
    2023-09-01 $115,950 (16.0%) $151,812 (7.3%) 0.00 73
    2023-10-01 $114,950 (15.1%) $160,163 (21.2%) 0.00 94
    2023-11-01 $129,950 (27.3%) $155,490 (10.9%) 0.00 110
    2023-12-01 $138,900 (32.4%) $157,084 (13.9%) 0.00 109
    2024-01-01 $145,975 (82.7%) $166,793 (47.6%) 0.00 104
    2024-02-01 $148,800 (99.9%) $170,153 (53.5%) 0.00 89
    2024-03-01 $144,450 (86.6%) $171,971 (53.7%) 0.00 81
    Marion's median listing price for 2024-03-01 was $144,450, a difference of $67,050 (86.6%) versus the prior year and $-4,350 versus the prior month.

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

    Marion's average listing price for 2024-03-01 was $171,971, a difference of $60,066 (53.7%) versus the prior year and $1,818 versus the prior month.

    For the 2024-03-01 period, Marion had 81 MLS listings, a difference of -8 listings (-9%) versus the prior month and 6 listings (8%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Marion (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,558 sqft
    2018-02-01 0 days 1,547 sqft
    2018-03-01 0 days 1,480 sqft
    2018-04-01 0 days 1,420 sqft
    2018-05-01 0 days 1,387 sqft
    2018-06-01 0 days 1,442 sqft
    2018-07-01 0 days 1,411 sqft
    2018-08-01 0 days 1,434 sqft
    2018-09-01 0 days 1,442 sqft
    2018-10-01 0 days 1,472 sqft
    2018-11-01 0 days 1,464 sqft
    2018-12-01 0 days 1,466 sqft
    2019-01-01 0 days 1,478 sqft
    2019-02-01 0 days 1,491 sqft
    2019-03-01 0 days 1,510 sqft
    2019-04-01 0 days 1,569 sqft
    2019-05-01 0 days 1,488 sqft
    2019-06-01 0 days 1,442 sqft
    2019-07-01 0 days 1,528 sqft
    2019-08-01 0 days 1,504 sqft
    2019-09-01 0 days 1,539 sqft
    2019-10-01 0 days 1,555 sqft
    2019-11-01 0 days 1,566 sqft
    2019-12-01 0 days 1,568 sqft
    2020-01-01 0 days 1,558 sqft
    2020-02-01 0 days 1,501 sqft
    2020-03-01 0 days 1,475 sqft
    2020-04-01 0 days 1,458 sqft
    2020-05-01 0 days 1,492 sqft
    2020-06-01 0 days 1,463 sqft
    2020-07-01 0 days 1,527 sqft
    2020-08-01 0 days 1,440 sqft
    2020-09-01 0 days 1,422 sqft
    2020-10-01 0 days 1,456 sqft
    2020-11-01 0 days 1,447 sqft
    2020-12-01 0 days 1,483 sqft
    2021-01-01 0 days 1,492 sqft
    2021-02-01 0 days 1,451 sqft
    2021-03-01 0 days 1,398 sqft
    2021-04-01 0 days 1,461 sqft
    2021-05-01 0 days 1,488 sqft
    2021-06-01 0 days 1,420 sqft
    2021-07-01 0 days 1,490 sqft
    2021-08-01 0 days 1,547 sqft
    2021-09-01 0 days 1,494 sqft
    2021-10-01 0 days 1,427 sqft
    2021-11-01 0 days 1,432 sqft
    2021-12-01 0 days 1,443 sqft
    2022-01-01 0 days 1,424 sqft
    2022-02-01 0 days 1,434 sqft
    2022-03-01 0 days 1,387 sqft
    2022-04-01 0 days 1,498 sqft
    2022-05-01 0 days 1,562 sqft
    2022-06-01 0 days 1,542 sqft
    2022-07-01 0 days 1,532 sqft
    2022-08-01 0 days 1,558 sqft
    2022-09-01 0 days 1,562 sqft
    2022-10-01 0 days 1,549 sqft
    2022-11-01 0 days 1,619 sqft
    2022-12-01 0 days 1,515 sqft
    2023-01-01 0 days 1,454 sqft
    2023-02-01 0 days 1,441 sqft
    2023-03-01 0 days 1,478 sqft
    2023-04-01 0 days 1,500 sqft
    2023-05-01 0 days 1,450 sqft
    2023-06-01 0 days 1,505 sqft
    2023-07-01 0 days 1,500 sqft
    2023-08-01 0 days 1,408 sqft
    2023-09-01 0 days 1,360 sqft
    2023-10-01 0 days 1,422 sqft
    2023-11-01 0 days 1,512 sqft
    2023-12-01 0 days 1,523 sqft
    2024-01-01 0 days 1,502 sqft
    2024-02-01 0 days 1,654 sqft
    2024-03-01 0 days 1,762 sqft
    Marion's median listing age (time on market) for 2024-03-01 was 0 days.

    Marion's median square footage for active listings during the 2024-03-01 period was 1,762 sqft. One year prior, the average listing was 1,478 sqft.