Peru USDA Loan Rates, Closing Costs & Stats

Peru, 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.

Peru's 12 lenders originated 21 USDA loans during 2023. The total origination value was $2,555,000, with an average USDA loan value of $121,667.

Peru USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Peru averaged 6.88% for the week of 2024-06-07, compared to the national average (all USDA variants) of 6.699% for the same period.

Peru's average USDA mortgage closing costs are $3,330.

The average rate for the prior week (2024-05-31) was 7.07% and one month ago for the week of 2024-05-03, the average rate was 6.96%.

The average rate one year ago was 6.76%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.5%.

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

Peru 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 Peru level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Ixonia Bank 3 7.33% $4,719
RUOFF MORTGAGE COMPANY, INC. 3 7.13% $1,906
PLAZA HOME MORTGAGE, INC. 3 6.75% $3,644
Wolfe Financial, Inc 2 6.88% $4,335
MOVEMENT MORTGAGE, LLC 2 7.00% $5,114
THRIVE MORTGAGE, LLC 2 7.13% $4,337
BROKER SOLUTIONS, INC. 1 6.75% $5,896
PANORAMA MORTGAGE GROUP, LLC 1 6.63% $5,052
FIRST COMMUNITY MORTGAGE, INC. 1 6.50% $4,383
Century Mortgage Company DBA Century Lending Company 1 7.63% $4,836
FLAT BRANCH MORTGAGE, INC. 1 6.63% $3,342
First Merchants Bank 1 6.63% $3,163

The top Peru USDA lender as defined by loan originations is Ixonia Bank, with 3 USDA loans originated. Their average total fees are $4,719, which is $2,813 higher than the next largest lender, RUOFF MORTGAGE COMPANY, INC..

The lowest fee Peru USDA lenders (with over 10 loans originated) are .

The lowest rate Peru USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Peru (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 $69,900 (-0.8%) $96,934 (19.6%) 0.00 103
2018-02-01 $69,900 (7.7%) $99,173 (29.5%) 0.00 95
2018-03-01 $79,900 (12.6%) $110,565 (29.8%) 0.00 91
2018-04-01 $85,075 (16.9%) $113,468 (29.6%) 0.00 93
2018-05-01 $83,558 (21.6%) $135,062 (49.4%) 0.00 87
2018-06-01 $81,000 (8.9%) $151,068 (59.2%) 0.00 86
2018-07-01 $80,800 (7.9%) $145,180 (54.0%) 0.00 102
2018-08-01 $87,475 (10.4%) $140,764 (33.0%) 0.00 110
2018-09-01 $76,900 (2.5%) $134,837 (19.7%) 0.00 107
2018-10-01 $85,650 (14.3%) $138,300 (24.6%) 0.00 108
2018-11-01 $82,400 (15.8%) $138,313 (27.6%) 0.00 107
2018-12-01 $82,400 (17.9%) $134,955 (43.7%) 0.00 101
2019-01-01 $83,075 (18.9%) $133,295 (37.5%) 0.00 95
2019-02-01 $84,700 (21.2%) $130,780 (31.9%) 0.00 100
2019-03-01 $81,600 (2.1%) $146,253 (32.3%) 0.00 84
2019-04-01 $77,750 (-8.6%) $133,453 (17.6%) 0.00 70
2019-05-01 $74,075 (-11.4%) $105,528 (-21.9%) 0.00 66
2019-06-01 $84,900 (4.8%) $111,522 (-26.2%) 0.00 71
2019-07-01 $87,700 (8.5%) $108,166 (-25.5%) 0.00 70
2019-08-01 $88,491 (1.2%) $108,635 (-22.8%) 0.00 76
2019-09-01 $88,327 (14.9%) $111,117 (-17.6%) 0.00 81
2019-10-01 $88,493 (3.3%) $111,853 (-19.1%) 0.00 85
2019-11-01 $79,000 (-4.1%) $108,303 (-21.7%) 0.00 85
2019-12-01 $79,450 (-3.6%) $109,689 (-18.7%) 0.00 77
2020-01-01 $86,950 (4.7%) $112,538 (-15.6%) 0.00 80
2020-02-01 $89,900 (6.1%) $109,767 (-16.1%) 0.00 74
2020-03-01 $89,900 (10.2%) $109,046 (-25.4%) 0.00 64
2020-04-01 $88,425 (13.7%) $105,015 (-21.3%) 0.00 53
2020-05-01 $89,450 (20.8%) $134,796 (27.7%) 0.00 49
2020-06-01 $76,200 (-10.3%) $119,275 (7.0%) 0.00 39
2020-07-01 $74,900 (-14.6%) $113,198 (4.7%) 0.00 39
2020-08-01 $87,200 (-1.5%) $117,308 (8.0%) 0.00 39
2020-09-01 $96,975 (9.8%) $122,553 (10.3%) 0.00 41
2020-10-01 $99,900 (12.9%) $138,336 (23.7%) 0.00 48
2020-11-01 $112,900 (42.9%) $139,693 (29.0%) 0.00 44
2020-12-01 $111,400 (40.2%) $151,500 (38.1%) 0.00 43
2021-01-01 $112,900 (29.8%) $145,977 (29.7%) 0.00 38
2021-02-01 $134,900 (50.1%) $171,092 (55.9%) 0.00 33
2021-03-01 $131,150 (45.9%) $174,998 (60.5%) 0.00 28
2021-04-01 $122,400 (38.4%) $184,968 (76.1%) 0.00 24
2021-05-01 $122,400 (36.8%) $203,345 (50.9%) 0.00 19
2021-06-01 $124,900 (63.9%) $198,785 (66.7%) 0.00 20
2021-07-01 $108,950 (45.5%) $156,922 (38.6%) 0.00 36
2021-08-01 $112,450 (29.0%) $154,742 (31.9%) 0.00 34
2021-09-01 $112,400 (15.9%) $146,002 (19.1%) 0.00 36
2021-10-01 $129,000 (29.1%) $172,430 (24.7%) 0.00 44
2021-11-01 $111,900 (-0.9%) $164,738 (17.9%) 0.00 47
2021-12-01 $114,675 (2.9%) $167,311 (10.4%) 0.00 45
2022-01-01 $99,500 (-11.9%) $153,232 (5.0%) 0.00 42
2022-02-01 $124,950 (-7.4%) $172,815 (1.0%) 0.00 43
2022-03-01 $127,675 (-2.7%) $181,802 (3.9%) 0.00 31
2022-04-01 $118,950 (-2.8%) $167,802 (-9.3%) 0.00 34
2022-05-01 $130,725 (6.8%) $184,548 (-9.2%) 0.00 39
2022-06-01 $135,050 (8.1%) $186,488 (-6.2%) 0.00 38
2022-07-01 $143,450 (31.7%) $183,570 (17.0%) 0.00 55
2022-08-01 $140,075 (24.6%) $161,942 (4.7%) 0.00 55
2022-09-01 $129,350 (15.1%) $150,809 (3.3%) 0.00 60
2022-10-01 $119,900 (-7.1%) $139,238 (-19.3%) 0.00 60
2022-11-01 $122,925 (9.9%) $133,729 (-18.8%) 0.00 50
2022-12-01 $119,900 (4.6%) $140,913 (-15.8%) 0.00 52
2023-01-01 $121,150 (21.8%) $146,218 (-4.6%) 0.00 46
2023-02-01 $118,175 (-5.4%) $148,079 (-14.3%) 0.00 36
2023-03-01 $126,250 (-1.1%) $154,502 (-15.0%) 0.00 31
2023-04-01 $135,900 (14.3%) $179,527 (7.0%) 0.00 27
2023-05-01 $178,200 (36.3%) $198,530 (7.6%) 0.00 28
2023-06-01 $183,675 (36.0%) $206,321 (10.6%) 0.00 29
2023-07-01 $164,900 (15.0%) $205,908 (12.2%) 0.00 35
2023-08-01 $141,150 (0.8%) $188,145 (16.2%) 0.00 38
2023-09-01 $149,250 (15.4%) $181,871 (20.6%) 0.00 41
2023-10-01 $147,425 (23.0%) $181,957 (30.7%) 0.00 50
2023-11-01 $140,750 (14.5%) $170,111 (27.2%) 0.00 53
2023-12-01 $134,450 (12.1%) $170,476 (21.0%) 0.00 49
2024-01-01 $143,700 (18.6%) $170,865 (16.9%) 0.00 44
2024-02-01 $137,200 (16.1%) $166,217 (12.3%) 0.00 41
2024-03-01 $144,900 (14.8%) $174,307 (12.8%) 0.00 38
2024-04-01 $136,200 (0.2%) $161,666 (-10.0%) 0.00 31
2024-05-01 $139,950 (-21.5%) $164,224 (-17.3%) 0.00 30
Peru's median listing price for 2024-05-01 was $139,950, a difference of $-38,250 (-21.5%) versus the prior year and $3,750 versus the prior month.

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

Peru's average listing price for 2024-05-01 was $164,224, a difference of $-34,306 (-17.3%) versus the prior year and $2,558 versus the prior month.

For the 2024-05-01 period, Peru had 30 MLS listings, a difference of -1 listings (-3%) versus the prior month and 2 listings (7%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Peru (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,574 sqft
2018-02-01 0 days 1,583 sqft
2018-03-01 0 days 1,639 sqft
2018-04-01 0 days 1,665 sqft
2018-05-01 0 days 1,612 sqft
2018-06-01 0 days 1,654 sqft
2018-07-01 0 days 1,628 sqft
2018-08-01 0 days 1,632 sqft
2018-09-01 0 days 1,608 sqft
2018-10-01 0 days 1,742 sqft
2018-11-01 0 days 1,723 sqft
2018-12-01 0 days 1,672 sqft
2019-01-01 0 days 1,672 sqft
2019-02-01 0 days 1,630 sqft
2019-03-01 0 days 1,583 sqft
2019-04-01 0 days 1,482 sqft
2019-05-01 0 days 1,479 sqft
2019-06-01 0 days 1,495 sqft
2019-07-01 0 days 1,470 sqft
2019-08-01 0 days 1,488 sqft
2019-09-01 0 days 1,508 sqft
2019-10-01 0 days 1,522 sqft
2019-11-01 0 days 1,533 sqft
2019-12-01 0 days 1,530 sqft
2020-01-01 0 days 1,568 sqft
2020-02-01 0 days 1,549 sqft
2020-03-01 0 days 1,476 sqft
2020-04-01 0 days 1,487 sqft
2020-05-01 0 days 1,490 sqft
2020-06-01 0 days 1,504 sqft
2020-07-01 0 days 1,478 sqft
2020-08-01 0 days 1,520 sqft
2020-09-01 0 days 1,480 sqft
2020-10-01 0 days 1,638 sqft
2020-11-01 0 days 1,748 sqft
2020-12-01 0 days 1,714 sqft
2021-01-01 0 days 1,660 sqft
2021-02-01 0 days 1,773 sqft
2021-03-01 0 days 1,770 sqft
2021-04-01 0 days 1,694 sqft
2021-05-01 0 days 1,756 sqft
2021-06-01 0 days 1,747 sqft
2021-07-01 0 days 1,628 sqft
2021-08-01 0 days 1,675 sqft
2021-09-01 0 days 1,678 sqft
2021-10-01 0 days 1,756 sqft
2021-11-01 0 days 1,597 sqft
2021-12-01 0 days 1,496 sqft
2022-01-01 0 days 1,432 sqft
2022-02-01 0 days 1,502 sqft
2022-03-01 0 days 1,502 sqft
2022-04-01 0 days 1,500 sqft
2022-05-01 0 days 1,478 sqft
2022-06-01 0 days 1,608 sqft
2022-07-01 0 days 1,796 sqft
2022-08-01 0 days 1,717 sqft
2022-09-01 0 days 1,726 sqft
2022-10-01 0 days 1,664 sqft
2022-11-01 0 days 1,672 sqft
2022-12-01 0 days 1,718 sqft
2023-01-01 0 days 1,717 sqft
2023-02-01 0 days 1,709 sqft
2023-03-01 0 days 1,702 sqft
2023-04-01 0 days 1,493 sqft
2023-05-01 0 days 1,727 sqft
2023-06-01 0 days 1,850 sqft
2023-07-01 0 days 1,806 sqft
2023-08-01 0 days 1,645 sqft
2023-09-01 0 days 1,684 sqft
2023-10-01 0 days 1,615 sqft
2023-11-01 0 days 1,588 sqft
2023-12-01 0 days 1,580 sqft
2024-01-01 0 days 1,587 sqft
2024-02-01 0 days 1,514 sqft
2024-03-01 0 days 1,472 sqft
2024-04-01 0 days 1,454 sqft
2024-05-01 0 days 1,440 sqft
Peru's median listing age (time on market) for 2024-05-01 was 0 days.

Peru's median square footage for active listings during the 2024-05-01 period was 1,440 sqft. One year prior, the average listing was 1,727 sqft.