New Castle USDA Loan Rates, Closing Costs & Stats

New Castle, IN

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 7.27% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

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

    The average rate for the prior week (2024-04-12) was 7.12% and one month ago for the week of 2024-03-15, the average rate was 6.7%.

    The average rate one year ago was 6.64%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

    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
    New Castle's median listing price for 2024-03-01 was $296,846, a difference of $57,171 (23.9%) versus the prior year and $15,046 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 2024-03-01 was $290,269, a difference of $32,187 (12.5%) versus the prior year and $4,547 versus the prior month.

    For the 2024-03-01 period, New Castle had 84 MLS listings, a difference of -13 listings (-13%) versus the prior month and 14 listings (20%) 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
    New Castle's median listing age (time on market) for 2024-03-01 was 0 days.

    New Castle's median square footage for active listings during the 2024-03-01 period was 2,100 sqft. One year prior, the average listing was 1,876 sqft.