Muncie USDA Loan Rates, Closing Costs & Stats

MUNCIE, 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.

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 6.95% for the week of 2024-06-07, compared to the national average (all USDA variants) of 6.699% for the same period.

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

The average rate for the prior week (2024-05-31) was 7.23% and one month ago for the week of 2024-05-03, the average rate was 7.33%.

The average rate one year ago was 6.83%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.95%.

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
2024-04-01 $148,550 (10.1%) $187,516 (-4.8%) 0.00 151
2024-05-01 $152,400 (21.0%) $194,716 (1.2%) 0.00 142
Muncie's median listing price for 2024-05-01 was $152,400, a difference of $26,475 (21.0%) versus the prior year and $3,850 versus the prior month.

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

Muncie's average listing price for 2024-05-01 was $194,716, a difference of $2,226 (1.2%) versus the prior year and $7,200 versus the prior month.

For the 2024-05-01 period, Muncie had 142 MLS listings, a difference of -9 listings (-6%) versus the prior month and 48 listings (51%) 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
2024-04-01 0 days 1,640 sqft
2024-05-01 0 days 1,709 sqft
Muncie's median listing age (time on market) for 2024-05-01 was 0 days.

Muncie's median square footage for active listings during the 2024-05-01 period was 1,709 sqft. One year prior, the average listing was 1,588 sqft.