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%.
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. LouisDate | 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 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. LouisDate | 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 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.