Scottsburg USDA Loan Rates, Closing Costs & Stats

Scottsburg, 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.

Scottsburg's 16 lenders originated 33 USDA loans during 2023. The total origination value was $5,465,000, with an average USDA loan value of $165,606.

Scottsburg USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Scottsburg averaged -0.13% for the week of 2024-11-29, compared to the national average (all USDA variants) of 0% for the same period.

Scottsburg's average USDA mortgage closing costs are $4,375.

The average rate for the prior week (2024-11-22) was 6.37% and one month ago for the week of 2024-10-25, the average rate was 6.37%.

The average rate one year ago was 6.97%.

For refis of the same type during the week of 2024-11-29, the average rate was 0%.

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

Scottsburg 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 Scottsburg level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
DIRECT MORTGAGE LOANS, LLC 10 6.70% $8,614
SUCCESS MORTGAGE PARTNERS, INC. 4 6.63% $6,394
UNITED WHOLESALE MORTGAGE, LLC 3 6.54% $6,497
First Savings Bank 2 6.19% $5,515
Magnolia Bank 1 6.63% $4,026
MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $4,804
PLAZA HOME MORTGAGE, INC. 1 7.50% $4,380
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.25% $6,131
RUOFF MORTGAGE COMPANY, INC. 1 7.25% $2,556
Sierra Pacific Mortgage Company, Inc. 1 6.63% $3,700
THE MORTGAGE WAREHOUSE,LLC 1 6.13% $4,458
Century Mortgage Company DBA Century Lending Company 1 6.63% $3,901
WesBanco 1 7.38% $5,617
Flagstar Bank, FSB 1 7.25% $6,646
INSPIRE HOME LOANS INC. 1 6.75% $8,683
INTERLINC MORTGAGE SERVICES, LLC 1 6.49% $2,969

The top Scottsburg USDA lender as defined by loan originations is DIRECT MORTGAGE LOANS, LLC, with 10 USDA loans originated. Their average total fees are $8,614, which is $2,220 higher than the next largest lender, SUCCESS MORTGAGE PARTNERS, INC..

The lowest fee Scottsburg USDA lenders (with over 10 loans originated) are DIRECT MORTGAGE LOANS, LLC ($8,614), .

The lowest rate Scottsburg USDA lenders (with over 10 loans originated) are DIRECT MORTGAGE LOANS, LLC (6.70%), .