New Castle USDA Loan Rates, Closing Costs & Stats

New Castle, 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.

New Castle's 23 lenders originated 55 USDA loans during 2023. The total origination value was $7,335,000, with an average USDA loan value of $133,364.

New Castle USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in New Castle averaged 6.83% for the week of 2024-12-06, compared to the national average (all USDA variants) of 6.328% for the same period.

New Castle's average USDA mortgage closing costs are $4,068.

The average rate for the prior week (2024-11-29) was 6.91% and one month ago for the week of 2024-11-01, the average rate was 6.95%.

The average rate one year ago was 7.17%.

For refis of the same type during the week of 2024-12-06, the average rate was 6.23%.

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

New Castle 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 New Castle level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNION HOME MORTGAGE CORP. 12 6.85% $6,392
RUOFF MORTGAGE COMPANY, INC. 8 6.88% $2,540
NEWREZ LLC 7 7.09% $3,987
CALIBER HOME LOANS, INC. 4 6.63% $4,823
THRIVE MORTGAGE, LLC 2 6.69% $4,678
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.94% $5,854
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.38% $6,141
MID AMERICA MORTGAGE, INC. 2 6.44% $4,519
MJW Financial LLC 2 6.50% $5,963
Nations Lending Corporation 1 7.25% $2,277
OPEN MORTGAGE, LLC 1 8.13% $8,336
Stock Yards Bank & Trust Company 1 6.13% $3,691
The Huntington National Bank 1 7.13% $4,443
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.25% $7,247
UNITED WHOLESALE MORTGAGE, LLC 1 6.25% $5,315
CROSSCOUNTRY MORTGAGE, LLC 1 7.75% $8,239
DAS Acquisition Company, LLC 1 5.75% $9,320
DIRECT MORTGAGE LOANS, LLC 1 7.49% $8,523
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 7.00% $8,104
EVERETT FINANCIAL, INC. 1 7.13% $6,111
Fifth Third Bank 1 5.75% $6,949
First Option Mortgage, LLC 1 7.13% $4,623
Gateway First Bank 1 7.75% $5,659

The top New Castle USDA lender as defined by loan originations is UNION HOME MORTGAGE CORP., with 12 USDA loans originated. Their average total fees are $6,392, which is $3,852 higher than the next largest lender, RUOFF MORTGAGE COMPANY, INC..

The lowest fee New Castle USDA lenders (with over 10 loans originated) are UNION HOME MORTGAGE CORP. ($6,392), .

The lowest rate New Castle USDA lenders (with over 10 loans originated) are UNION HOME MORTGAGE CORP. (6.85%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - New Castle (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 $70,650 (1.0%) $102,083 (0.5%) 0.00 156
2018-02-01 $76,150 (13.7%) $100,343 (6.8%) 0.00 156
2018-03-01 $79,000 (13.8%) $108,225 (12.2%) 0.00 156
2018-04-01 $72,925 (2.4%) $115,215 (19.3%) 0.00 133
2018-05-01 $69,900 (-6.7%) $111,794 (8.2%) 0.00 141
2018-06-01 $75,000 (-6.1%) $137,448 (17.8%) 0.00 154
2018-07-01 $84,975 (-3.3%) $130,427 (8.6%) 0.00 176
2018-08-01 $91,900 (0.8%) $136,438 (9.8%) 0.00 165
2018-09-01 $94,633 (5.3%) $137,177 (7.8%) 0.00 171
2018-10-01 $91,767 (10.4%) $137,388 (13.1%) 0.00 155
2018-11-01 $78,342 (-4.7%) $129,009 (7.0%) 0.00 147
2018-12-01 $74,900 (7.2%) $117,149 (10.0%) 0.00 140
2019-01-01 $79,900 (13.1%) $121,369 (18.9%) 0.00 129
2019-02-01 $83,200 (9.3%) $116,825 (16.4%) 0.00 133
2019-03-01 $73,571 (-6.9%) $109,341 (1.0%) 0.00 132
2019-04-01 $73,071 (0.2%) $112,613 (-2.3%) 0.00 130
2019-05-01 $80,400 (15.0%) $119,577 (7.0%) 0.00 120
2019-06-01 $77,900 (3.9%) $115,126 (-16.2%) 0.00 119
2019-07-01 $69,900 (-17.7%) $106,886 (-18.1%) 0.00 123
2019-08-01 $75,109 (-18.3%) $110,817 (-18.8%) 0.00 131
2019-09-01 $82,923 (-12.4%) $117,119 (-14.6%) 0.00 141
2019-10-01 $89,000 (-3.0%) $122,928 (-10.5%) 0.00 152
2019-11-01 $89,000 (13.6%) $125,946 (-2.4%) 0.00 164
2019-12-01 $89,225 (19.1%) $126,367 (7.9%) 0.00 150
2020-01-01 $89,900 (12.5%) $126,654 (4.4%) 0.00 139
2020-02-01 $79,990 (-3.9%) $119,932 (2.7%) 0.00 119
2020-03-01 $85,000 (15.5%) $128,391 (17.4%) 0.00 101
2020-04-01 $75,175 (2.9%) $116,564 (3.5%) 0.00 86
2020-05-01 $79,745 (-0.8%) $128,934 (7.8%) 0.00 67
2020-06-01 $93,600 (20.2%) $131,312 (14.1%) 0.00 55
2020-07-01 $98,800 (41.3%) $151,046 (41.3%) 0.00 62
2020-08-01 $79,990 (6.5%) $141,502 (27.7%) 0.00 54
2020-09-01 $107,175 (29.3%) $134,947 (15.2%) 0.00 57
2020-10-01 $85,000 (-4.5%) $125,129 (1.8%) 0.00 79
2020-11-01 $89,400 (0.5%) $120,902 (-4.0%) 0.00 75
2020-12-01 $87,150 (-2.3%) $114,108 (-9.7%) 0.00 73
2021-01-01 $79,000 (-12.1%) $115,692 (-8.7%) 0.00 73
2021-02-01 $82,175 (2.7%) $117,137 (-2.3%) 0.00 63
2021-03-01 $212,470 (150.0%) $188,787 (47.0%) 0.00 68
2021-04-01 $224,420 (198.5%) $206,296 (77.0%) 0.00 66
2021-05-01 $239,990 (201.0%) $226,376 (75.6%) 0.00 59
2021-06-01 $247,648 (164.6%) $220,794 (68.1%) 0.00 65
2021-07-01 $248,990 (152.0%) $226,958 (50.3%) 0.00 70
2021-08-01 $194,450 (143.1%) $216,598 (53.1%) 0.00 88
2021-09-01 $205,000 (91.3%) $227,684 (68.7%) 0.00 90
2021-10-01 $179,900 (111.7%) $209,378 (67.3%) 0.00 101
2021-11-01 $173,723 (94.3%) $202,331 (67.4%) 0.00 97
2021-12-01 $180,725 (107.4%) $212,164 (85.9%) 0.00 85
2022-01-01 $154,950 (96.1%) $205,699 (77.8%) 0.00 73
2022-02-01 $163,725 (99.2%) $217,369 (85.6%) 0.00 65
2022-03-01 $209,725 (-1.3%) $222,455 (17.8%) 0.00 63
2022-04-01 $220,000 (-2.0%) $241,417 (17.0%) 0.00 63
2022-05-01 $301,500 (25.6%) $254,786 (12.6%) 0.00 64
2022-06-01 $263,409 (6.4%) $248,332 (12.5%) 0.00 71
2022-07-01 $239,900 (-3.7%) $241,066 (6.2%) 0.00 78
2022-08-01 $220,000 (13.1%) $247,444 (14.2%) 0.00 82
2022-09-01 $243,675 (18.9%) $249,208 (9.5%) 0.00 89
2022-10-01 $220,450 (22.5%) $246,148 (17.6%) 0.00 90
2022-11-01 $213,700 (23.0%) $240,734 (19.0%) 0.00 83
2022-12-01 $250,000 (38.3%) $241,811 (14.0%) 0.00 71
2023-01-01 $236,725 (52.8%) $723,315 (251.6%) 0.00 68
2023-02-01 $236,725 (44.6%) $253,183 (16.5%) 0.00 66
2023-03-01 $239,675 (14.3%) $258,082 (16.0%) 0.00 70
2023-04-01 $257,450 (17.0%) $257,402 (6.6%) 0.00 59
2023-05-01 $293,650 (-2.6%) $276,840 (8.7%) 0.00 67
2023-06-01 $291,974 (10.8%) $264,487 (6.5%) 0.00 64
2023-07-01 $264,000 (10.1%) $254,487 (5.6%) 0.00 68
2023-08-01 $224,675 (2.1%) $248,708 (0.5%) 0.00 85
2023-09-01 $248,450 (2.0%) $247,327 (-0.8%) 0.00 91
2023-10-01 $242,475 (10.0%) $248,928 (1.1%) 0.00 89
2023-11-01 $260,975 (22.1%) $259,803 (7.9%) 0.00 99
2023-12-01 $249,900 (0.0%) $266,781 (10.3%) 0.00 107
2024-01-01 $259,900 (9.8%) $276,170 (-61.8%) 0.00 99
2024-02-01 $281,800 (19.0%) $285,722 (12.9%) 0.00 97
2024-03-01 $296,846 (23.9%) $290,269 (12.5%) 0.00 84
2024-04-01 $305,873 (18.8%) $301,938 (17.3%) 0.00 74
2024-05-01 $311,633 (6.1%) $304,550 (10.0%) 0.00 69
2024-06-01 $289,900 (-0.7%) $295,045 (11.6%) 0.00 78
2024-07-01 $262,025 (-0.8%) $286,371 (12.5%) 0.00 87
2024-08-01 $239,900 (6.8%) $279,483 (12.4%) 0.00 106
2024-09-01 $232,450 (-6.4%) $278,583 (12.6%) 0.00 110
2024-10-01 $229,900 (-5.2%) $267,017 (7.3%) 0.00 118
2024-11-01 $197,900 (-24.2%) $237,599 (-8.6%) 0.00 118
New Castle's median listing price for 2024-11-01 was $197,900, a difference of $-63,075 (-24.2%) versus the prior year and $-32,000 versus the prior month.

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

New Castle's average listing price for 2024-11-01 was $237,599, a difference of $-22,204 (-8.6%) versus the prior year and $-29,418 versus the prior month.

For the 2024-11-01 period, New Castle had 118 MLS listings, a difference of 0 listings (0%) versus the prior month and 19 listings (19%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - New Castle (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,817 sqft
2018-02-01 0 days 1,755 sqft
2018-03-01 0 days 1,757 sqft
2018-04-01 0 days 1,723 sqft
2018-05-01 0 days 1,754 sqft
2018-06-01 0 days 1,823 sqft
2018-07-01 0 days 1,898 sqft
2018-08-01 0 days 1,923 sqft
2018-09-01 0 days 1,970 sqft
2018-10-01 0 days 1,900 sqft
2018-11-01 0 days 1,873 sqft
2018-12-01 0 days 1,866 sqft
2019-01-01 0 days 1,802 sqft
2019-02-01 0 days 1,730 sqft
2019-03-01 0 days 1,668 sqft
2019-04-01 0 days 1,648 sqft
2019-05-01 0 days 1,617 sqft
2019-06-01 0 days 1,659 sqft
2019-07-01 0 days 1,561 sqft
2019-08-01 0 days 1,638 sqft
2019-09-01 0 days 1,614 sqft
2019-10-01 0 days 1,604 sqft
2019-11-01 0 days 1,648 sqft
2019-12-01 0 days 1,643 sqft
2020-01-01 0 days 1,625 sqft
2020-02-01 0 days 1,652 sqft
2020-03-01 0 days 1,655 sqft
2020-04-01 0 days 1,674 sqft
2020-05-01 0 days 1,810 sqft
2020-06-01 0 days 1,920 sqft
2020-07-01 0 days 2,046 sqft
2020-08-01 0 days 1,987 sqft
2020-09-01 0 days 1,979 sqft
2020-10-01 0 days 1,632 sqft
2020-11-01 0 days 1,607 sqft
2020-12-01 0 days 1,603 sqft
2021-01-01 0 days 1,582 sqft
2021-02-01 0 days 1,594 sqft
2021-03-01 0 days 1,752 sqft
2021-04-01 0 days 1,761 sqft
2021-05-01 0 days 1,761 sqft
2021-06-01 0 days 1,775 sqft
2021-07-01 0 days 1,842 sqft
2021-08-01 0 days 1,973 sqft
2021-09-01 0 days 1,830 sqft
2021-10-01 0 days 1,817 sqft
2021-11-01 0 days 1,783 sqft
2021-12-01 0 days 1,775 sqft
2022-01-01 0 days 1,775 sqft
2022-02-01 0 days 1,775 sqft
2022-03-01 0 days 1,815 sqft
2022-04-01 0 days 1,775 sqft
2022-05-01 0 days 2,051 sqft
2022-06-01 0 days 1,906 sqft
2022-07-01 0 days 1,944 sqft
2022-08-01 0 days 1,775 sqft
2022-09-01 0 days 1,831 sqft
2022-10-01 0 days 1,775 sqft
2022-11-01 0 days 1,775 sqft
2022-12-01 0 days 1,869 sqft
2023-01-01 0 days 1,775 sqft
2023-02-01 0 days 1,785 sqft
2023-03-01 0 days 1,876 sqft
2023-04-01 0 days 1,775 sqft
2023-05-01 0 days 1,882 sqft
2023-06-01 0 days 1,888 sqft
2023-07-01 0 days 1,775 sqft
2023-08-01 0 days 1,775 sqft
2023-09-01 0 days 1,792 sqft
2023-10-01 0 days 1,812 sqft
2023-11-01 0 days 1,862 sqft
2023-12-01 0 days 1,880 sqft
2024-01-01 0 days 1,935 sqft
2024-02-01 0 days 2,074 sqft
2024-03-01 0 days 2,100 sqft
2024-04-01 0 days 2,120 sqft
2024-05-01 0 days 2,155 sqft
2024-06-01 0 days 2,170 sqft
2024-07-01 0 days 1,936 sqft
2024-08-01 0 days 1,850 sqft
2024-09-01 0 days 1,858 sqft
2024-10-01 0 days 1,884 sqft
2024-11-01 0 days 1,794 sqft
New Castle's median listing age (time on market) for 2024-11-01 was 0 days.

New Castle's median square footage for active listings during the 2024-11-01 period was 1,794 sqft. One year prior, the average listing was 1,862 sqft.