Muncie USDA Loan Rates, Closing Costs & Stats

MUNCIE, 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.

    Muncie's 10 lenders originated 21 USDA loans during 2023. The total origination value was $2,955,000, with an average USDA loan value of $140,714.

    Muncie USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Muncie averaged 7.02% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Muncie's average USDA mortgage closing costs are $3,542.

    The average rate for the prior week (2024-04-12) was 6.87% and one month ago for the week of 2024-03-15, the average rate was 6.65%.

    The average rate one year ago was 6.79%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.11%.

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

    Muncie 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 Muncie level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GVC MORTGAGE, INC. 7 7.02% $5,512
    UNION HOME MORTGAGE CORP. 5 7.15% $6,012
    NEWREZ LLC 2 7.00% $5,916
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.63% $4,664
    MJW Financial LLC 1 6.63% $6,886
    Bank of England 1 5.63% $7,304
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.88% $6,307
    RUOFF MORTGAGE COMPANY, INC. 1 5.75% $1,176
    THRIVE MORTGAGE, LLC 1 6.88% $4,719
    CALIBER HOME LOANS, INC. 1 6.75% $5,311

    The top Muncie USDA lender as defined by loan originations is GVC MORTGAGE, INC., with 7 USDA loans originated. Their average total fees are $5,512, which is $500 lower than the next largest lender, UNION HOME MORTGAGE CORP..

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Muncie (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 $74,900 (1.0%) $112,806 (-1.1%) 0.00 363
    2018-02-01 $74,900 (7.2%) $117,880 (1.5%) 0.00 348
    2018-03-01 $74,900 (4.7%) $126,601 (8.0%) 0.00 330
    2018-04-01 $77,444 (6.2%) $142,299 (22.0%) 0.00 313
    2018-05-01 $89,925 (23.3%) $146,861 (23.3%) 0.00 346
    2018-06-01 $88,194 (11.7%) $143,176 (12.7%) 0.00 369
    2018-07-01 $89,900 (11.1%) $141,504 (8.4%) 0.00 387
    2018-08-01 $87,322 (4.5%) $142,802 (-1.8%) 0.00 405
    2018-09-01 $85,000 (-0.5%) $138,709 (-12.3%) 0.00 435
    2018-10-01 $87,925 (4.6%) $140,051 (-11.2%) 0.00 416
    2018-11-01 $85,175 (5.7%) $140,101 (-11.1%) 0.00 405
    2018-12-01 $79,900 (6.7%) $136,042 (13.8%) 0.00 387
    2019-01-01 $79,900 (6.7%) $133,094 (18.0%) 0.00 368
    2019-02-01 $79,900 (6.7%) $127,795 (8.4%) 0.00 352
    2019-03-01 $82,686 (10.4%) $134,346 (6.1%) 0.00 345
    2019-04-01 $87,150 (12.5%) $142,940 (0.5%) 0.00 345
    2019-05-01 $98,675 (9.7%) $149,283 (1.7%) 0.00 343
    2019-06-01 $105,000 (19.1%) $153,534 (7.2%) 0.00 350
    2019-07-01 $107,400 (19.5%) $163,182 (15.3%) 0.00 355
    2019-08-01 $118,536 (35.8%) $162,873 (14.1%) 0.00 371
    2019-09-01 $116,491 (37.1%) $158,220 (14.1%) 0.00 379
    2019-10-01 $113,450 (29.0%) $152,810 (9.1%) 0.00 378
    2019-11-01 $109,900 (29.0%) $144,891 (3.4%) 0.00 375
    2019-12-01 $99,900 (25.0%) $140,825 (3.5%) 0.00 336
    2020-01-01 $100,723 (26.1%) $141,730 (6.5%) 0.00 302
    2020-02-01 $94,400 (18.2%) $140,808 (10.2%) 0.00 267
    2020-03-01 $90,438 (9.4%) $140,663 (4.7%) 0.00 246
    2020-04-01 $81,400 (-6.6%) $137,777 (-3.6%) 0.00 237
    2020-05-01 $88,000 (-10.8%) $159,458 (6.8%) 0.00 193
    2020-06-01 $81,175 (-22.7%) $159,972 (4.2%) 0.00 161
    2020-07-01 $111,425 (3.8%) $178,876 (9.6%) 0.00 146
    2020-08-01 $110,000 (-7.2%) $175,809 (7.9%) 0.00 158
    2020-09-01 $112,400 (-3.5%) $166,349 (5.1%) 0.00 200
    2020-10-01 $103,900 (-8.4%) $157,104 (2.8%) 0.00 236
    2020-11-01 $95,525 (-13.1%) $153,051 (5.6%) 0.00 237
    2020-12-01 $78,838 (-21.1%) $140,566 (-0.2%) 0.00 205
    2021-01-01 $68,950 (-31.5%) $136,035 (-4.0%) 0.00 187
    2021-02-01 $63,900 (-32.3%) $139,396 (-1.0%) 0.00 139
    2021-03-01 $59,900 (-33.8%) $137,791 (-2.0%) 0.00 115
    2021-04-01 $63,475 (-22.0%) $127,887 (-7.2%) 0.00 108
    2021-05-01 $67,000 (-23.9%) $132,118 (-17.2%) 0.00 116
    2021-06-01 $89,150 (9.8%) $158,170 (-1.1%) 0.00 134
    2021-07-01 $115,900 (4.0%) $173,918 (-2.8%) 0.00 169
    2021-08-01 $122,450 (11.3%) $172,663 (-1.8%) 0.00 168
    2021-09-01 $124,900 (11.1%) $166,224 (-0.1%) 0.00 170
    2021-10-01 $119,900 (15.4%) $154,827 (-1.5%) 0.00 163
    2021-11-01 $123,700 (29.5%) $153,934 (0.6%) 0.00 144
    2021-12-01 $129,900 (64.8%) $163,246 (16.1%) 0.00 135
    2022-01-01 $132,900 (92.8%) $153,079 (12.5%) 0.00 115
    2022-02-01 $107,500 (68.2%) $145,211 (4.2%) 0.00 74
    2022-03-01 $119,450 (99.4%) $161,852 (17.5%) 0.00 82
    2022-04-01 $111,250 (75.3%) $163,836 (28.1%) 0.00 91
    2022-05-01 $131,250 (95.9%) $180,972 (37.0%) 0.00 108
    2022-06-01 $128,900 (44.6%) $192,920 (22.0%) 0.00 133
    2022-07-01 $130,000 (12.2%) $202,990 (16.7%) 0.00 149
    2022-08-01 $135,000 (10.3%) $202,583 (17.3%) 0.00 157
    2022-09-01 $136,975 (9.7%) $191,759 (15.4%) 0.00 170
    2022-10-01 $165,375 (37.9%) $195,021 (26.0%) 0.00 182
    2022-11-01 $172,450 (39.4%) $199,577 (29.7%) 0.00 186
    2022-12-01 $174,250 (34.1%) $198,491 (21.6%) 0.00 152
    2023-01-01 $167,400 (26.0%) $188,741 (23.3%) 0.00 122
    2023-02-01 $149,500 (39.1%) $191,549 (31.9%) 0.00 103
    2023-03-01 $139,975 (17.2%) $196,106 (21.2%) 0.00 89
    2023-04-01 $134,950 (21.3%) $196,927 (20.2%) 0.00 91
    2023-05-01 $125,925 (-4.1%) $192,490 (6.4%) 0.00 94
    2023-06-01 $129,400 (0.4%) $194,018 (0.6%) 0.00 111
    2023-07-01 $134,900 (3.8%) $186,569 (-8.1%) 0.00 138
    2023-08-01 $152,500 (13.0%) $200,226 (-1.2%) 0.00 151
    2023-09-01 $154,950 (13.1%) $189,193 (-1.3%) 0.00 171
    2023-10-01 $152,450 (-7.8%) $187,034 (-4.1%) 0.00 182
    2023-11-01 $158,975 (-7.8%) $188,300 (-5.7%) 0.00 201
    2023-12-01 $152,450 (-12.5%) $189,758 (-4.4%) 0.00 218
    2024-01-01 $163,450 (-2.4%) $199,008 (5.4%) 0.00 200
    2024-02-01 $161,200 (7.8%) $195,946 (2.3%) 0.00 185
    2024-03-01 $163,450 (16.8%) $193,472 (-1.3%) 0.00 168
    Muncie's median listing price for 2024-03-01 was $163,450, a difference of $23,475 (16.8%) versus the prior year and $2,250 versus the prior month.

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

    Muncie's average listing price for 2024-03-01 was $193,472, a difference of $-2,634 (-1.3%) versus the prior year and $-2,474 versus the prior month.

    For the 2024-03-01 period, Muncie had 168 MLS listings, a difference of -17 listings (-9%) versus the prior month and 79 listings (89%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Muncie (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,522 sqft
    2018-02-01 0 days 1,525 sqft
    2018-03-01 0 days 1,537 sqft
    2018-04-01 0 days 1,580 sqft
    2018-05-01 0 days 1,735 sqft
    2018-06-01 0 days 1,735 sqft
    2018-07-01 0 days 1,722 sqft
    2018-08-01 0 days 1,665 sqft
    2018-09-01 0 days 1,609 sqft
    2018-10-01 0 days 1,612 sqft
    2018-11-01 0 days 1,612 sqft
    2018-12-01 0 days 1,617 sqft
    2019-01-01 0 days 1,527 sqft
    2019-02-01 0 days 1,497 sqft
    2019-03-01 0 days 1,492 sqft
    2019-04-01 0 days 1,527 sqft
    2019-05-01 0 days 1,547 sqft
    2019-06-01 0 days 1,579 sqft
    2019-07-01 0 days 1,611 sqft
    2019-08-01 0 days 1,623 sqft
    2019-09-01 0 days 1,616 sqft
    2019-10-01 0 days 1,610 sqft
    2019-11-01 0 days 1,599 sqft
    2019-12-01 0 days 1,588 sqft
    2020-01-01 0 days 1,569 sqft
    2020-02-01 0 days 1,560 sqft
    2020-03-01 0 days 1,487 sqft
    2020-04-01 0 days 1,458 sqft
    2020-05-01 0 days 1,464 sqft
    2020-06-01 0 days 1,464 sqft
    2020-07-01 0 days 1,584 sqft
    2020-08-01 0 days 1,658 sqft
    2020-09-01 0 days 1,617 sqft
    2020-10-01 0 days 1,567 sqft
    2020-11-01 0 days 1,503 sqft
    2020-12-01 0 days 1,465 sqft
    2021-01-01 0 days 1,407 sqft
    2021-02-01 0 days 1,400 sqft
    2021-03-01 0 days 1,298 sqft
    2021-04-01 0 days 1,357 sqft
    2021-05-01 0 days 1,393 sqft
    2021-06-01 0 days 1,551 sqft
    2021-07-01 0 days 1,632 sqft
    2021-08-01 0 days 1,602 sqft
    2021-09-01 0 days 1,604 sqft
    2021-10-01 0 days 1,594 sqft
    2021-11-01 0 days 1,581 sqft
    2021-12-01 0 days 1,538 sqft
    2022-01-01 0 days 1,584 sqft
    2022-02-01 0 days 1,576 sqft
    2022-03-01 0 days 1,603 sqft
    2022-04-01 0 days 1,694 sqft
    2022-05-01 0 days 1,756 sqft
    2022-06-01 0 days 1,687 sqft
    2022-07-01 0 days 1,680 sqft
    2022-08-01 0 days 1,794 sqft
    2022-09-01 0 days 1,761 sqft
    2022-10-01 0 days 1,733 sqft
    2022-11-01 0 days 1,771 sqft
    2022-12-01 0 days 1,684 sqft
    2023-01-01 0 days 1,609 sqft
    2023-02-01 0 days 1,642 sqft
    2023-03-01 0 days 1,609 sqft
    2023-04-01 0 days 1,728 sqft
    2023-05-01 0 days 1,588 sqft
    2023-06-01 0 days 1,662 sqft
    2023-07-01 0 days 1,580 sqft
    2023-08-01 0 days 1,793 sqft
    2023-09-01 0 days 1,758 sqft
    2023-10-01 0 days 1,798 sqft
    2023-11-01 0 days 1,742 sqft
    2023-12-01 0 days 1,741 sqft
    2024-01-01 0 days 1,802 sqft
    2024-02-01 0 days 1,750 sqft
    2024-03-01 0 days 1,695 sqft
    Muncie's median listing age (time on market) for 2024-03-01 was 0 days.

    Muncie's median square footage for active listings during the 2024-03-01 period was 1,695 sqft. One year prior, the average listing was 1,609 sqft.