South Bend USDA Loan Rates, Closing Costs & Stats
SOUTH BEND-MISHAWAKA, IN-MI
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.
South Bend's 10 lenders originated 17 USDA loans during 2024. The total origination value was $3,255,000, with an average USDA loan value of $191,471.
South Bend USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in South Bend
averaged
6.92%
for the week of 2025-07-11, compared to the national average (all USDA variants) of
6.449% for the same period.
South Bend's average USDA mortgage closing costs are $4,389.
The average rate for the prior week (2025-07-04) was
7.03% and
one month ago for the week of 2025-06-06, the
average rate was 6.92%.
The average rate one year ago was 7.11%.
For refis of the same type during the week of 2025-07-11, the average rate
was 6.97%.
South Bend 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 South Bend level.
| Name | # of Loans | 2024 Avg. 30yFix Rate | 2024 Avg. Closing Costs |
|---|---|---|---|
| CARDINAL FINANCIAL | 3 | 7.25% | $5,475 |
| UNION HOME MORTGAGE CORP. | 3 | 6.71% | $7,532 |
| HALLMARK HOME MORTGAGE, LLC | 2 | 6.44% | $7,373 |
| RUOFF MORTGAGE COMPANY, INC. | 2 | 6.06% | $7,608 |
| Honor Credit Union | 1 | 6.88% | $4,471 |
| MICHIGAN MUTUAL, INC. | 1 | 7.13% | $6,703 |
| GVC MORTGAGE, INC. | 1 | 6.25% | $5,876 |
| SUCCESS MORTGAGE PARTNERS, INC. | 1 | 6.00% | $5,305 |
| TOWNE MORTGAGE COMPANY | 1 | 6.63% | $7,485 |
| HOMESITE MORTGAGE, LLC | 1 | 6.88% | $10,557 |
The top South Bend USDA lender as defined by loan originations is CARDINAL FINANCIAL, with
3 USDA loans originated. Their average total fees are
$5,475, which is $2,057
lower than the next largest lender,
UNION HOME MORTGAGE CORP..
The lowest fee South Bend USDA lenders (with over 10 loans originated) are
.
The lowest rate South Bend USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - South Bend (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 | $129,900 (23.7%) | $215,859 (11.0%) | 0.48 | 963 |
| 2018-02-01 | $135,000 (23.1%) | $226,398 (11.9%) | 0.49 | 885 |
| 2018-03-01 | $139,500 (16.4%) | $237,065 (7.7%) | 0.49 | 827 |
| 2018-04-01 | $159,900 (23.0%) | $254,892 (7.2%) | 0.54 | 810 |
| 2018-05-01 | $169,900 (13.3%) | $261,294 (6.4%) | 0.57 | 855 |
| 2018-06-01 | $170,000 (9.8%) | $263,841 (8.2%) | 0.57 | 936 |
| 2018-07-01 | $175,725 (17.2%) | $259,678 (10.3%) | 0.59 | 1,027 |
| 2018-08-01 | $174,700 (17.3%) | $249,956 (8.4%) | 0.59 | 1,084 |
| 2018-09-01 | $169,000 (16.6%) | $241,650 (5.2%) | 0.57 | 1,119 |
| 2018-10-01 | $165,000 (13.9%) | $242,330 (4.8%) | 0.56 | 1,104 |
| 2018-11-01 | $159,900 (12.3%) | $240,862 (6.4%) | 0.54 | 993 |
| 2018-12-01 | $151,450 (16.5%) | $234,010 (7.9%) | 0.52 | 937 |
| 2019-01-01 | $154,900 (19.3%) | $232,935 (7.9%) | 0.54 | 830 |
| 2019-02-01 | $162,400 (20.3%) | $236,581 (4.5%) | 0.55 | 798 |
| 2019-03-01 | $184,757 (32.4%) | $251,858 (6.2%) | 0.60 | 764 |
| 2019-04-01 | $209,900 (31.3%) | $272,879 (7.1%) | 0.67 | 743 |
| 2019-05-01 | $223,450 (31.5%) | $281,613 (7.8%) | 0.70 | 771 |
| 2019-06-01 | $220,000 (29.4%) | $281,451 (6.7%) | 0.69 | 872 |
| 2019-07-01 | $218,950 (24.6%) | $284,780 (9.7%) | 0.69 | 927 |
| 2019-08-01 | $206,791 (18.4%) | $276,066 (10.5%) | 0.65 | 995 |
| 2019-09-01 | $194,477 (15.1%) | $266,919 (10.5%) | 0.62 | 1,014 |
| 2019-10-01 | $184,900 (12.1%) | $261,314 (7.8%) | 0.60 | 1,018 |
| 2019-11-01 | $179,900 (12.5%) | $262,210 (8.9%) | 0.59 | 921 |
| 2019-12-01 | $174,900 (15.5%) | $258,861 (10.6%) | 0.58 | 849 |
| 2020-01-01 | $177,450 (14.6%) | $257,988 (10.8%) | 0.59 | 744 |
| 2020-02-01 | $202,450 (24.7%) | $271,753 (14.9%) | 0.66 | 667 |
| 2020-03-01 | $224,800 (21.7%) | $289,262 (14.9%) | 0.70 | 663 |
| 2020-04-01 | $222,875 (6.2%) | $287,825 (5.5%) | 0.70 | 678 |
| 2020-05-01 | $239,950 (7.4%) | $305,377 (8.4%) | 0.73 | 656 |
| 2020-06-01 | $257,425 (17.0%) | $317,503 (12.8%) | 0.76 | 589 |
| 2020-07-01 | $246,250 (12.5%) | $311,270 (9.3%) | 0.71 | 586 |
| 2020-08-01 | $247,900 (19.9%) | $312,145 (13.1%) | 0.71 | 576 |
| 2020-09-01 | $249,450 (28.3%) | $312,109 (16.9%) | 0.71 | 528 |
| 2020-10-01 | $225,000 (21.7%) | $297,683 (13.9%) | 0.64 | 547 |
| 2020-11-01 | $189,925 (5.6%) | $276,437 (5.4%) | 0.56 | 521 |
| 2020-12-01 | $183,169 (4.7%) | $262,739 (1.5%) | 0.54 | 477 |
| 2021-01-01 | $175,000 (-1.4%) | $256,681 (-0.5%) | 0.52 | 416 |
| 2021-02-01 | $195,950 (-3.2%) | $297,303 (9.4%) | 0.57 | 312 |
| 2021-03-01 | $232,350 (3.4%) | $334,831 (15.8%) | 0.66 | 275 |
| 2021-04-01 | $248,475 (11.5%) | $383,009 (33.1%) | 0.67 | 259 |
| 2021-05-01 | $229,950 (-4.2%) | $345,499 (13.1%) | 0.61 | 302 |
| 2021-06-01 | $244,950 (-4.9%) | $352,913 (11.2%) | 0.64 | 356 |
| 2021-07-01 | $234,000 (-5.0%) | $351,458 (12.9%) | 0.62 | 405 |
| 2021-08-01 | $220,000 (-11.3%) | $357,719 (14.6%) | 0.59 | 433 |
| 2021-09-01 | $228,250 (-8.5%) | $368,275 (18.0%) | 0.61 | 438 |
| 2021-10-01 | $223,950 (-0.5%) | $361,805 (21.5%) | 0.60 | 432 |
| 2021-11-01 | $222,500 (17.2%) | $340,035 (23.0%) | 0.59 | 373 |
| 2021-12-01 | $224,450 (22.5%) | $329,626 (25.5%) | 0.61 | 310 |
| 2022-01-01 | $249,900 (42.8%) | $360,616 (40.5%) | 0.68 | 244 |
| 2022-02-01 | $287,000 (46.5%) | $400,143 (34.6%) | 0.75 | 223 |
| 2022-03-01 | $249,900 (7.6%) | $386,805 (15.5%) | 0.63 | 242 |
| 2022-04-01 | $274,900 (10.6%) | $421,405 (10.0%) | 0.66 | 259 |
| 2022-05-01 | $304,925 (32.6%) | $427,389 (23.7%) | 0.70 | 312 |
| 2022-06-01 | $283,450 (15.7%) | $424,586 (20.3%) | 0.63 | 382 |
| 2022-07-01 | $264,950 (13.2%) | $392,242 (11.6%) | 0.60 | 463 |
| 2022-08-01 | $273,225 (24.2%) | $382,054 (6.8%) | 0.63 | 477 |
| 2022-09-01 | $279,900 (22.6%) | $397,724 (8.0%) | 0.65 | 491 |
| 2022-10-01 | $275,000 (22.8%) | $410,430 (13.4%) | 0.65 | 514 |
| 2022-11-01 | $284,900 (28.0%) | $423,804 (24.6%) | 0.68 | 512 |
| 2022-12-01 | $277,450 (23.6%) | $412,621 (25.2%) | 0.69 | 476 |
| 2023-01-01 | $299,738 (19.9%) | $414,787 (15.0%) | 0.74 | 415 |
| 2023-02-01 | $294,425 (2.6%) | $422,711 (5.6%) | 0.71 | 371 |
| 2023-03-01 | $319,950 (28.0%) | $445,710 (15.2%) | 0.75 | 346 |
| 2023-04-01 | $299,950 (9.1%) | $446,537 (6.0%) | 0.70 | 340 |
| 2023-05-01 | $323,450 (6.1%) | $457,011 (6.9%) | 0.73 | 386 |
| 2023-06-01 | $292,450 (3.2%) | $434,702 (2.4%) | 0.66 | 417 |
| 2023-07-01 | $289,900 (9.4%) | $429,712 (9.6%) | 0.66 | 417 |
| 2023-08-01 | $271,750 (-0.5%) | $398,801 (4.4%) | 0.62 | 454 |
| 2023-09-01 | $259,900 (-7.2%) | $376,159 (-5.4%) | 0.61 | 520 |
| 2023-10-01 | $252,475 (-8.2%) | $368,878 (-10.1%) | 0.59 | 583 |
| 2023-11-01 | $234,900 (-17.6%) | $353,830 (-16.5%) | 0.56 | 593 |
| 2023-12-01 | $220,000 (-20.7%) | $344,957 (-16.4%) | 0.54 | 551 |
| 2024-01-01 | $212,425 (-29.1%) | $343,894 (-17.1%) | 0.52 | 501 |
| 2024-02-01 | $225,000 (-23.6%) | $361,435 (-14.5%) | 0.54 | 469 |
| 2024-03-01 | $239,000 (-25.3%) | $367,545 (-17.5%) | 0.56 | 462 |
| 2024-04-01 | $269,450 (-10.2%) | $388,301 (-13.0%) | 0.63 | 472 |
| 2024-05-01 | $291,365 (-9.9%) | $408,501 (-10.6%) | 0.66 | 471 |
| 2024-06-01 | $299,000 (2.2%) | $408,777 (-6.0%) | 0.68 | 511 |
| 2024-07-01 | $281,750 (-2.8%) | $386,647 (-10.0%) | 0.64 | 609 |
| 2024-08-01 | $265,900 (-2.2%) | $368,583 (-7.6%) | 0.62 | 717 |
| 2024-09-01 | $263,725 (1.5%) | $364,718 (-3.0%) | 0.62 | 752 |
| 2024-10-01 | $263,125 (4.2%) | $355,919 (-3.5%) | 0.62 | 779 |
| 2024-11-01 | $247,900 (5.5%) | $342,239 (-3.3%) | 0.60 | 818 |
| 2024-12-01 | $229,950 (4.5%) | $320,247 (-7.2%) | 0.57 | 703 |
| 2025-01-01 | $234,950 (10.6%) | $331,005 (-3.8%) | 0.59 | 648 |
| 2025-02-01 | $236,975 (5.3%) | $335,711 (-7.1%) | 0.58 | 591 |
| 2025-03-01 | $249,000 (4.2%) | $384,337 (4.6%) | 0.59 | 561 |
| 2025-04-01 | $260,475 (-3.3%) | $401,421 (3.4%) | 0.60 | 583 |
| 2025-05-01 | $279,900 (-3.9%) | $426,260 (4.4%) | 0.64 | 591 |
| 2025-06-01 | $306,200 (2.4%) | $468,877 (14.7%) | 0.69 | 607 |
South Bend's median listing price comes in at 69% of the national average.
South Bend's average listing price for 2025-06-01 was $468,877, a difference of $60,100 (14.7%) versus the prior year and $42,617 versus the prior month.
For the 2025-06-01 period, South Bend had 607 MLS listings, a difference of 16 listings (3%) versus the prior month and 96 listings (19%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - South Bend (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 87 days | 1,632 sqft |
| 2018-02-01 | 90 days | 1,615 sqft |
| 2018-03-01 | 66 days | 1,636 sqft |
| 2018-04-01 | 55 days | 1,706 sqft |
| 2018-05-01 | 43 days | 1,730 sqft |
| 2018-06-01 | 40 days | 1,772 sqft |
| 2018-07-01 | 44 days | 1,794 sqft |
| 2018-08-01 | 46 days | 1,783 sqft |
| 2018-09-01 | 51 days | 1,750 sqft |
| 2018-10-01 | 60 days | 1,746 sqft |
| 2018-11-01 | 70 days | 1,738 sqft |
| 2018-12-01 | 74 days | 1,700 sqft |
| 2019-01-01 | 80 days | 1,696 sqft |
| 2019-02-01 | 76 days | 1,721 sqft |
| 2019-03-01 | 65 days | 1,771 sqft |
| 2019-04-01 | 51 days | 1,824 sqft |
| 2019-05-01 | 47 days | 1,900 sqft |
| 2019-06-01 | 45 days | 1,938 sqft |
| 2019-07-01 | 48 days | 1,920 sqft |
| 2019-08-01 | 50 days | 1,886 sqft |
| 2019-09-01 | 55 days | 1,838 sqft |
| 2019-10-01 | 57 days | 1,800 sqft |
| 2019-11-01 | 65 days | 1,729 sqft |
| 2019-12-01 | 76 days | 1,725 sqft |
| 2020-01-01 | 84 days | 1,711 sqft |
| 2020-02-01 | 81 days | 1,804 sqft |
| 2020-03-01 | 57 days | 1,814 sqft |
| 2020-04-01 | 56 days | 1,789 sqft |
| 2020-05-01 | 61 days | 1,830 sqft |
| 2020-06-01 | 58 days | 1,941 sqft |
| 2020-07-01 | 47 days | 1,900 sqft |
| 2020-08-01 | 47 days | 1,920 sqft |
| 2020-09-01 | 47 days | 1,985 sqft |
| 2020-10-01 | 41 days | 1,868 sqft |
| 2020-11-01 | 45 days | 1,737 sqft |
| 2020-12-01 | 51 days | 1,624 sqft |
| 2021-01-01 | 61 days | 1,620 sqft |
| 2021-02-01 | 66 days | 1,632 sqft |
| 2021-03-01 | 40 days | 1,648 sqft |
| 2021-04-01 | 33 days | 1,725 sqft |
| 2021-05-01 | 25 days | 1,663 sqft |
| 2021-06-01 | 24 days | 1,788 sqft |
| 2021-07-01 | 30 days | 1,800 sqft |
| 2021-08-01 | 32 days | 1,722 sqft |
| 2021-09-01 | 36 days | 1,663 sqft |
| 2021-10-01 | 38 days | 1,656 sqft |
| 2021-11-01 | 47 days | 1,646 sqft |
| 2021-12-01 | 58 days | 1,654 sqft |
| 2022-01-01 | 58 days | 1,820 sqft |
| 2022-02-01 | 39 days | 1,835 sqft |
| 2022-03-01 | 30 days | 1,800 sqft |
| 2022-04-01 | 26 days | 1,826 sqft |
| 2022-05-01 | 19 days | 1,872 sqft |
| 2022-06-01 | 24 days | 1,898 sqft |
| 2022-07-01 | 25 days | 1,900 sqft |
| 2022-08-01 | 32 days | 1,862 sqft |
| 2022-09-01 | 36 days | 1,838 sqft |
| 2022-10-01 | 36 days | 1,847 sqft |
| 2022-11-01 | 43 days | 1,811 sqft |
| 2022-12-01 | 52 days | 1,800 sqft |
| 2023-01-01 | 65 days | 1,806 sqft |
| 2023-02-01 | 63 days | 1,767 sqft |
| 2023-03-01 | 53 days | 1,833 sqft |
| 2023-04-01 | 36 days | 1,800 sqft |
| 2023-05-01 | 30 days | 1,833 sqft |
| 2023-06-01 | 32 days | 1,809 sqft |
| 2023-07-01 | 37 days | 1,833 sqft |
| 2023-08-01 | 35 days | 1,764 sqft |
| 2023-09-01 | 37 days | 1,691 sqft |
| 2023-10-01 | 37 days | 1,725 sqft |
| 2023-11-01 | 45 days | 1,684 sqft |
| 2023-12-01 | 57 days | 1,621 sqft |
| 2024-01-01 | 60 days | 1,595 sqft |
| 2024-02-01 | 59 days | 1,600 sqft |
| 2024-03-01 | 45 days | 1,615 sqft |
| 2024-04-01 | 38 days | 1,690 sqft |
| 2024-05-01 | 37 days | 1,707 sqft |
| 2024-06-01 | 40 days | 1,786 sqft |
| 2024-07-01 | 36 days | 1,738 sqft |
| 2024-08-01 | 36 days | 1,728 sqft |
| 2024-09-01 | 43 days | 1,728 sqft |
| 2024-10-01 | 46 days | 1,717 sqft |
| 2024-11-01 | 49 days | 1,680 sqft |
| 2024-12-01 | 55 days | 1,637 sqft |
| 2025-01-01 | 64 days | 1,659 sqft |
| 2025-02-01 | 66 days | 1,652 sqft |
| 2025-03-01 | 55 days | 1,650 sqft |
| 2025-04-01 | 43 days | 1,696 sqft |
| 2025-05-01 | 43 days | 1,728 sqft |
| 2025-06-01 | 42 days | 1,783 sqft |
South Bend's median square footage for active listings during the 2025-06-01 period was 1,783 sqft. One year prior, the average listing was 1,786 sqft.