Muncie USDA Loans

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 49 USDA loans during 2021. The total origination value was $6,745,000, with an average USDA loan value of $137,653.

Muncie USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Muncie averaged 5.46% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.4% and one month ago for the week of 2022-04-08, the average rate was 5.26%.

The average rate one year ago was 3.17%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.15%.

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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Muncie level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
GVC MORTGAGE, INC. 17 3.37% $3,685
CALIBER HOME LOANS, INC. 11 2.87% $3,712
RUOFF MORTGAGE COMPANY, INC. 8 3.14% $1,837
AMERIFIRST FINANCIAL CORPORATION 5 3.23% $6,004
CROSSCOUNTRY MORTGAGE, LLC 3 3.54% $4,017
UNION HOME MORTGAGE CORP. 1 2.75% $3,412
BROKER SOLUTIONS, INC. 1 3.50% $5,661
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.25% $4,778
First Merchants Bank 1 3.13% $2,358
AMERICAN MORTGAGE SERVICE COMPANY 1 2.50% $3,585

The top Muncie USDA lender as defined by loan originations is GVC MORTGAGE, INC., with 17 USDA loans originated. Their average total fees are $3,685, which is $27 lower than the next largest lender, CALIBER HOME LOANS, INC..

The lowest fee Muncie USDA lenders (with over 10 loans originated) are GVC MORTGAGE, INC. ($3,685), CALIBER HOME LOANS, INC. ($3,712), .

The lowest rate Muncie USDA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. (2.87%), GVC MORTGAGE, INC. (3.37%), .


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 $72,450 (1.8%) $106,771 (-3.1%) 0.00 445
2018-02-01 $72,950 (4.4%) $111,330 (0.2%) 0.00 425
2018-03-01 $74,900 (7.2%) $118,741 (4.3%) 0.00 398
2018-04-01 $74,950 (4.2%) $134,257 (16.8%) 0.00 383
2018-05-01 $86,450 (23.6%) $137,626 (20.2%) 0.00 425
2018-06-01 $84,900 (11.5%) $137,655 (13.7%) 0.00 456
2018-07-01 $86,250 (8.0%) $135,028 (6.9%) 0.00 472
2018-08-01 $84,950 (7.3%) $138,136 (-0.1%) 0.00 486
2018-09-01 $84,900 (4.2%) $134,185 (-9.8%) 0.00 537
2018-10-01 $84,900 (6.2%) $134,999 (-9.0%) 0.00 517
2018-11-01 $81,000 (1.4%) $134,805 (-9.4%) 0.00 497
2018-12-01 $79,900 (9.6%) $132,461 (16.0%) 0.00 474
2019-01-01 $79,900 (10.3%) $130,129 (21.9%) 0.00 447
2019-02-01 $79,900 (9.5%) $126,736 (13.8%) 0.00 431
2019-03-01 $84,186 (12.4%) $132,872 (11.9%) 0.00 420
2019-04-01 $91,400 (22.0%) $140,491 (4.6%) 0.00 423
2019-05-01 $119,495 (38.2%) $147,520 (7.2%) 0.00 430
2019-06-01 $119,000 (40.2%) $154,276 (12.1%) 0.00 442
2019-07-01 $124,995 (44.9%) $163,044 (20.8%) 0.00 446
2019-08-01 $125,639 (47.9%) $161,994 (17.3%) 0.00 509
2019-09-01 $125,634 (48.0%) $158,114 (17.8%) 0.00 518
2019-10-01 $119,950 (41.3%) $152,205 (12.7%) 0.00 463
2019-11-01 $114,900 (41.9%) $142,331 (5.6%) 0.00 454
2019-12-01 $110,000 (37.7%) $137,598 (3.9%) 0.00 416
2020-01-01 $109,950 (37.6%) $137,165 (5.4%) 0.00 371
2020-02-01 $102,900 (28.8%) $140,124 (10.6%) 0.00 331
2020-03-01 $99,700 (18.4%) $141,439 (6.5%) 0.00 307
2020-04-01 $88,950 (-2.7%) $138,416 (-1.5%) 0.00 296
2020-05-01 $99,900 (-16.4%) $161,188 (9.3%) 0.00 231
2020-06-01 $87,450 (-26.5%) $157,993 (2.4%) 0.00 187
2020-07-01 $117,000 (-6.4%) $173,140 (6.2%) 0.00 171
2020-08-01 $119,900 (-4.6%) $174,166 (7.5%) 0.00 184
2020-09-01 $114,950 (-8.5%) $168,381 (6.5%) 0.00 234
2020-10-01 $110,000 (-8.3%) $164,563 (8.1%) 0.00 272
2020-11-01 $102,400 (-10.9%) $162,741 (14.3%) 0.00 282
2020-12-01 $84,750 (-23.0%) $148,241 (7.7%) 0.00 236
2021-01-01 $69,900 (-36.4%) $144,124 (5.1%) 0.00 219
2021-02-01 $68,950 (-33.0%) $149,856 (7.0%) 0.00 159
2021-03-01 $63,450 (-36.4%) $147,577 (4.3%) 0.00 124
2021-04-01 $65,450 (-26.4%) $137,001 (-1.0%) 0.00 117
2021-05-01 $65,000 (-34.9%) $140,261 (-13.0%) 0.00 125
2021-06-01 $92,400 (5.7%) $162,426 (2.8%) 0.00 146
2021-07-01 $118,200 (1.0%) $169,701 (-2.0%) 0.00 176
2021-08-01 $122,500 (2.2%) $170,435 (-2.1%) 0.00 183
2021-09-01 $124,950 (8.7%) $165,944 (-1.5%) 0.00 182
2021-10-01 $119,900 (9.0%) $155,830 (-5.3%) 0.00 182
2021-11-01 $122,195 (19.3%) $153,529 (-5.7%) 0.00 155
2021-12-01 $129,900 (53.3%) $165,540 (11.7%) 0.00 150
2022-01-01 $135,000 (93.1%) $157,105 (9.0%) 0.00 128
2022-02-01 $114,700 (66.4%) $154,849 (3.3%) 0.00 83
2022-03-01 $121,695 (91.8%) $162,992 (10.4%) 0.00 89
2022-04-01 $110,000 (68.1%) $156,829 (14.5%) 0.00 96
Muncie's median listing price for 2022-04-01 was $110,000, a difference of $44,550 (68.1%) versus the prior year and $-11,695 versus the prior month.

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

Muncie's average listing price for 2022-04-01 was $156,829, a difference of $19,828 (14.5%) versus the prior year and $-6,163 versus the prior month.

For the 2022-04-01 period, Muncie had 96 MLS listings, a difference of 7 listings (8%) versus the prior month and -21 listings (-18%) 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 1,485 sqft
2018-02-01 0 days 1,510 sqft
2018-03-01 0 days 1,500 sqft
2018-04-01 0 days 1,546 sqft
2018-05-01 0 days 1,676 sqft
2018-06-01 0 days 1,704 sqft
2018-07-01 0 days 1,689 sqft
2018-08-01 0 days 1,618 sqft
2018-09-01 0 days 1,559 sqft
2018-10-01 0 days 1,544 sqft
2018-11-01 0 days 1,540 sqft
2018-12-01 0 days 1,556 sqft
2019-01-01 0 days 1,481 sqft
2019-02-01 0 days 1,463 sqft
2019-03-01 0 days 1,461 sqft
2019-04-01 0 days 1,484 sqft
2019-05-01 0 days 1,511 sqft
2019-06-01 0 days 1,568 sqft
2019-07-01 0 days 1,597 sqft
2019-08-01 0 days 1,611 sqft
2019-09-01 0 days 1,610 sqft
2019-10-01 0 days 1,610 sqft
2019-11-01 0 days 1,580 sqft
2019-12-01 0 days 1,537 sqft
2020-01-01 0 days 1,530 sqft
2020-02-01 0 days 1,536 sqft
2020-03-01 0 days 1,487 sqft
2020-04-01 0 days 1,432 sqft
2020-05-01 0 days 1,457 sqft
2020-06-01 0 days 1,458 sqft
2020-07-01 0 days 1,583 sqft
2020-08-01 0 days 1,712 sqft
2020-09-01 0 days 1,614 sqft
2020-10-01 0 days 1,578 sqft
2020-11-01 0 days 1,535 sqft
2020-12-01 0 days 1,461 sqft
2021-01-01 0 days 1,430 sqft
2021-02-01 0 days 1,400 sqft
2021-03-01 0 days 1,274 sqft
2021-04-01 0 days 1,419 sqft
2021-05-01 0 days 1,400 sqft
2021-06-01 0 days 1,554 sqft
2021-07-01 0 days 1,614 sqft
2021-08-01 0 days 1,602 sqft
2021-09-01 0 days 1,603 sqft
2021-10-01 0 days 1,584 sqft
2021-11-01 0 days 1,564 sqft
2021-12-01 0 days 1,538 sqft
2022-01-01 0 days 1,603 sqft
2022-02-01 0 days 1,603 sqft
2022-03-01 0 days 1,603 sqft
2022-04-01 0 days 1,688 sqft
Muncie's median listing age (time on market) for 2022-04-01 was 0 days.

Muncie's median square footage for active listings during the 2022-04-01 period was 1,688 sqft. One year prior, the average listing was 1,419 sqft.