Richmond USDA Loan Rates, Closing Costs & Stats
Richmond, 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.
Richmond's 9 lenders originated 21 USDA loans during 2023. The total origination value was $2,325,000, with an average USDA loan value of $110,714.
Richmond USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Richmond
averaged
-0.05%
for the week of 2024-11-29, compared to the national average (all USDA variants) of
0% for the same period.
Richmond's average USDA mortgage closing costs are $3,841.
The average rate for the prior week (2024-11-22) was
6.55% and
one month ago for the week of 2024-10-25, the
average rate was 6.45%.
The average rate one year ago was 7.05%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.2%.
Richmond 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 Richmond level.
Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
NEWREZ LLC | 9 | 7.13% | $3,536 |
PRIMELENDING, A PLAINSCAPITAL COMPANY | 3 | 7.33% | $5,379 |
THRIVE MORTGAGE, LLC | 2 | 7.13% | $4,692 |
DAS Acquisition Company, LLC | 2 | 7.56% | $6,236 |
Three Rivers Federal Credit Union | 1 | 7.50% | $3,419 |
U.S. Bank | 1 | 6.75% | $3,865 |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 7.25% | $1,529 |
First Financial Bank | 1 | 6.13% | $4,244 |
OPEN MORTGAGE, LLC | 1 | 6.63% | $6,449 |
The top Richmond USDA lender as defined by loan originations is NEWREZ LLC, with
9 USDA loans originated. Their average total fees are
$3,536, which is $1,843
lower than the next largest lender,
PRIMELENDING, A PLAINSCAPITAL COMPANY.
The lowest fee Richmond USDA lenders (with over 10 loans originated) are
.
The lowest rate Richmond USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Richmond (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 | $79,900 (0.0%) | $116,133 (-4.2%) | 0.00 | 314 |
2018-02-01 | $83,200 (4.1%) | $120,797 (1.1%) | 0.00 | 329 |
2018-03-01 | $84,900 (6.4%) | $125,416 (5.9%) | 0.00 | 291 |
2018-04-01 | $82,200 (3.4%) | $122,744 (8.5%) | 0.00 | 288 |
2018-05-01 | $82,200 (1.2%) | $124,808 (6.7%) | 0.00 | 287 |
2018-06-01 | $85,200 (-0.4%) | $130,626 (5.1%) | 0.00 | 284 |
2018-07-01 | $88,350 (-1.7%) | $132,966 (7.5%) | 0.00 | 298 |
2018-08-01 | $89,800 (-0.1%) | $132,046 (10.0%) | 0.00 | 304 |
2018-09-01 | $89,900 (5.9%) | $130,228 (6.9%) | 0.00 | 318 |
2018-10-01 | $85,675 (0.9%) | $124,927 (-0.1%) | 0.00 | 329 |
2018-11-01 | $87,475 (-1.9%) | $125,567 (0.2%) | 0.00 | 341 |
2018-12-01 | $88,500 (4.7%) | $123,810 (0.9%) | 0.00 | 341 |
2019-01-01 | $88,650 (11.0%) | $122,983 (5.9%) | 0.00 | 321 |
2019-02-01 | $89,900 (8.1%) | $125,842 (4.2%) | 0.00 | 320 |
2019-03-01 | $89,157 (5.0%) | $129,619 (3.4%) | 0.00 | 291 |
2019-04-01 | $89,900 (9.4%) | $134,168 (9.3%) | 0.00 | 261 |
2019-05-01 | $96,450 (17.3%) | $137,749 (10.4%) | 0.00 | 269 |
2019-06-01 | $94,450 (10.9%) | $136,256 (4.3%) | 0.00 | 251 |
2019-07-01 | $90,550 (2.5%) | $135,097 (1.6%) | 0.00 | 236 |
2019-08-01 | $92,627 (3.2%) | $133,947 (1.4%) | 0.00 | 242 |
2019-09-01 | $96,718 (7.6%) | $131,386 (0.9%) | 0.00 | 242 |
2019-10-01 | $99,900 (16.6%) | $130,264 (4.3%) | 0.00 | 241 |
2019-11-01 | $99,700 (14.0%) | $127,224 (1.3%) | 0.00 | 258 |
2019-12-01 | $93,200 (5.3%) | $121,091 (-2.2%) | 0.00 | 258 |
2020-01-01 | $93,200 (5.1%) | $121,769 (-1.0%) | 0.00 | 248 |
2020-02-01 | $95,000 (5.7%) | $127,802 (1.6%) | 0.00 | 221 |
2020-03-01 | $99,900 (12.1%) | $127,438 (-1.7%) | 0.00 | 207 |
2020-04-01 | $109,900 (22.3%) | $128,407 (-4.3%) | 0.00 | 197 |
2020-05-01 | $94,950 (-1.6%) | $135,077 (-1.9%) | 0.00 | 153 |
2020-06-01 | $116,150 (23.0%) | $156,615 (14.9%) | 0.00 | 122 |
2020-07-01 | $121,050 (33.7%) | $168,452 (24.7%) | 0.00 | 122 |
2020-08-01 | $119,900 (29.4%) | $178,200 (33.0%) | 0.00 | 127 |
2020-09-01 | $124,925 (29.2%) | $167,238 (27.3%) | 0.00 | 132 |
2020-10-01 | $109,900 (10.0%) | $156,921 (20.5%) | 0.00 | 147 |
2020-11-01 | $101,175 (1.5%) | $150,286 (18.1%) | 0.00 | 164 |
2020-12-01 | $99,850 (7.1%) | $150,617 (24.4%) | 0.00 | 163 |
2021-01-01 | $91,250 (-2.1%) | $147,866 (21.4%) | 0.00 | 149 |
2021-02-01 | $82,425 (-13.2%) | $146,253 (14.4%) | 0.00 | 123 |
2021-03-01 | $79,900 (-20.0%) | $146,920 (15.3%) | 0.00 | 108 |
2021-04-01 | $107,400 (-2.3%) | $158,784 (23.7%) | 0.00 | 97 |
2021-05-01 | $89,950 (-5.3%) | $165,191 (22.3%) | 0.00 | 80 |
2021-06-01 | $117,175 (0.9%) | $182,152 (16.3%) | 0.00 | 90 |
2021-07-01 | $94,900 (-21.6%) | $140,155 (-16.8%) | 0.00 | 85 |
2021-08-01 | $121,150 (1.0%) | $148,534 (-16.7%) | 0.00 | 91 |
2021-09-01 | $129,900 (4.0%) | $155,439 (-7.1%) | 0.00 | 109 |
2021-10-01 | $132,000 (20.1%) | $158,472 (1.0%) | 0.00 | 114 |
2021-11-01 | $117,200 (15.8%) | $152,334 (1.4%) | 0.00 | 97 |
2021-12-01 | $106,250 (6.4%) | $139,962 (-7.1%) | 0.00 | 98 |
2022-01-01 | $106,250 (16.4%) | $142,234 (-3.8%) | 0.00 | 85 |
2022-02-01 | $114,900 (39.4%) | $154,696 (5.8%) | 0.00 | 66 |
2022-03-01 | $139,950 (75.2%) | $174,833 (19.0%) | 0.00 | 67 |
2022-04-01 | $169,900 (58.2%) | $199,118 (25.4%) | 0.00 | 62 |
2022-05-01 | $152,425 (69.5%) | $189,711 (14.8%) | 0.00 | 71 |
2022-06-01 | $129,900 (10.9%) | $170,719 (-6.3%) | 0.00 | 91 |
2022-07-01 | $129,900 (36.9%) | $167,200 (19.3%) | 0.00 | 102 |
2022-08-01 | $134,800 (11.3%) | $179,239 (20.7%) | 0.00 | 110 |
2022-09-01 | $151,150 (16.4%) | $193,392 (24.4%) | 0.00 | 100 |
2022-10-01 | $159,900 (21.1%) | $191,121 (20.6%) | 0.00 | 114 |
2022-11-01 | $147,075 (25.5%) | $177,026 (16.2%) | 0.00 | 134 |
2022-12-01 | $143,500 (35.1%) | $173,166 (23.7%) | 0.00 | 125 |
2023-01-01 | $143,050 (34.6%) | $177,975 (25.1%) | 0.00 | 103 |
2023-02-01 | $151,875 (32.2%) | $175,782 (13.6%) | 0.00 | 90 |
2023-03-01 | $163,650 (16.9%) | $185,936 (6.4%) | 0.00 | 89 |
2023-04-01 | $168,900 (-0.6%) | $188,014 (-5.6%) | 0.00 | 75 |
2023-05-01 | $149,900 (-1.7%) | $187,490 (-1.2%) | 0.00 | 73 |
2023-06-01 | $169,375 (30.4%) | $204,628 (19.9%) | 0.00 | 78 |
2023-07-01 | $162,450 (25.1%) | $209,607 (25.4%) | 0.00 | 87 |
2023-08-01 | $149,700 (11.1%) | $196,975 (9.9%) | 0.00 | 105 |
2023-09-01 | $129,900 (-14.1%) | $178,876 (-7.5%) | 0.00 | 122 |
2023-10-01 | $141,150 (-11.7%) | $192,356 (0.7%) | 0.00 | 129 |
2023-11-01 | $157,450 (7.1%) | $197,449 (11.5%) | 0.00 | 129 |
2023-12-01 | $150,350 (4.8%) | $190,280 (9.9%) | 0.00 | 112 |
2024-01-01 | $159,900 (11.8%) | $205,574 (15.5%) | 0.00 | 102 |
2024-02-01 | $158,175 (4.2%) | $205,711 (17.0%) | 0.00 | 114 |
2024-03-01 | $149,900 (-8.4%) | $197,770 (6.4%) | 0.00 | 88 |
2024-04-01 | $149,900 (-11.3%) | $193,130 (2.7%) | 0.00 | 89 |
2024-05-01 | $171,200 (14.2%) | $208,649 (11.3%) | 0.00 | 86 |
2024-06-01 | $187,000 (10.4%) | $221,485 (8.2%) | 0.00 | 101 |
2024-07-01 | $195,175 (20.1%) | $245,694 (17.2%) | 0.00 | 123 |
2024-08-01 | $179,900 (20.2%) | $228,922 (16.2%) | 0.00 | 147 |
2024-09-01 | $169,900 (30.8%) | $229,939 (28.6%) | 0.00 | 161 |
2024-10-01 | $170,975 (21.1%) | $230,520 (19.8%) | 0.00 | 165 |
Richmond's median listing price comes in at 0% of the national average.
Richmond's average listing price for 2024-10-01 was $230,520, a difference of $38,164 (19.8%) versus the prior year and $581 versus the prior month.
For the 2024-10-01 period, Richmond had 165 MLS listings, a difference of 4 listings (2%) versus the prior month and 36 listings (28%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Richmond (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,531 sqft |
2018-02-01 | 0 days | 1,594 sqft |
2018-03-01 | 0 days | 1,601 sqft |
2018-04-01 | 0 days | 1,597 sqft |
2018-05-01 | 0 days | 1,601 sqft |
2018-06-01 | 0 days | 1,596 sqft |
2018-07-01 | 0 days | 1,635 sqft |
2018-08-01 | 0 days | 1,634 sqft |
2018-09-01 | 0 days | 1,632 sqft |
2018-10-01 | 0 days | 1,602 sqft |
2018-11-01 | 0 days | 1,601 sqft |
2018-12-01 | 0 days | 1,595 sqft |
2019-01-01 | 0 days | 1,542 sqft |
2019-02-01 | 0 days | 1,530 sqft |
2019-03-01 | 0 days | 1,524 sqft |
2019-04-01 | 0 days | 1,541 sqft |
2019-05-01 | 0 days | 1,583 sqft |
2019-06-01 | 0 days | 1,561 sqft |
2019-07-01 | 0 days | 1,584 sqft |
2019-08-01 | 0 days | 1,589 sqft |
2019-09-01 | 0 days | 1,596 sqft |
2019-10-01 | 0 days | 1,602 sqft |
2019-11-01 | 0 days | 1,603 sqft |
2019-12-01 | 0 days | 1,605 sqft |
2020-01-01 | 0 days | 1,603 sqft |
2020-02-01 | 0 days | 1,646 sqft |
2020-03-01 | 0 days | 1,644 sqft |
2020-04-01 | 0 days | 1,628 sqft |
2020-05-01 | 0 days | 1,606 sqft |
2020-06-01 | 0 days | 1,643 sqft |
2020-07-01 | 0 days | 1,733 sqft |
2020-08-01 | 0 days | 1,672 sqft |
2020-09-01 | 0 days | 1,609 sqft |
2020-10-01 | 0 days | 1,581 sqft |
2020-11-01 | 0 days | 1,567 sqft |
2020-12-01 | 0 days | 1,601 sqft |
2021-01-01 | 0 days | 1,547 sqft |
2021-02-01 | 0 days | 1,520 sqft |
2021-03-01 | 0 days | 1,494 sqft |
2021-04-01 | 0 days | 1,566 sqft |
2021-05-01 | 0 days | 1,429 sqft |
2021-06-01 | 0 days | 1,603 sqft |
2021-07-01 | 0 days | 1,572 sqft |
2021-08-01 | 0 days | 1,675 sqft |
2021-09-01 | 0 days | 1,617 sqft |
2021-10-01 | 0 days | 1,542 sqft |
2021-11-01 | 0 days | 1,449 sqft |
2021-12-01 | 0 days | 1,409 sqft |
2022-01-01 | 0 days | 1,527 sqft |
2022-02-01 | 0 days | 1,556 sqft |
2022-03-01 | 0 days | 1,575 sqft |
2022-04-01 | 0 days | 1,811 sqft |
2022-05-01 | 0 days | 1,796 sqft |
2022-06-01 | 0 days | 1,696 sqft |
2022-07-01 | 0 days | 1,657 sqft |
2022-08-01 | 0 days | 1,670 sqft |
2022-09-01 | 0 days | 1,695 sqft |
2022-10-01 | 0 days | 1,674 sqft |
2022-11-01 | 0 days | 1,535 sqft |
2022-12-01 | 0 days | 1,553 sqft |
2023-01-01 | 0 days | 1,575 sqft |
2023-02-01 | 0 days | 1,706 sqft |
2023-03-01 | 0 days | 1,762 sqft |
2023-04-01 | 0 days | 1,817 sqft |
2023-05-01 | 0 days | 1,791 sqft |
2023-06-01 | 0 days | 1,853 sqft |
2023-07-01 | 0 days | 1,848 sqft |
2023-08-01 | 0 days | 1,678 sqft |
2023-09-01 | 0 days | 1,569 sqft |
2023-10-01 | 0 days | 1,599 sqft |
2023-11-01 | 0 days | 1,730 sqft |
2023-12-01 | 0 days | 1,652 sqft |
2024-01-01 | 0 days | 1,758 sqft |
2024-02-01 | 0 days | 1,818 sqft |
2024-03-01 | 0 days | 1,672 sqft |
2024-04-01 | 0 days | 1,634 sqft |
2024-05-01 | 0 days | 1,674 sqft |
2024-06-01 | 0 days | 1,778 sqft |
2024-07-01 | 0 days | 1,773 sqft |
2024-08-01 | 0 days | 1,780 sqft |
2024-09-01 | 0 days | 1,721 sqft |
2024-10-01 | 0 days | 1,709 sqft |
Richmond's median square footage for active listings during the 2024-10-01 period was 1,709 sqft. One year prior, the average listing was 1,599 sqft.