Muncie USDA Loans

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 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.