Wabash USDA Loan Rates, Closing Costs & Stats
Wabash, 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.
Wabash's 16 lenders originated 26 USDA loans during 2023. The total origination value was $3,640,000, with an average USDA loan value of $140,000.
Wabash USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Wabash
averaged
6.36%
for the week of 2024-11-08, compared to the national average (all USDA variants) of
6.477% for the same period.
Wabash's average USDA mortgage closing costs are $3,545.
The average rate for the prior week (2024-11-01) was
6.63% and
one month ago for the week of 2024-10-04, the
average rate was 6.05%.
The average rate one year ago was 7.29%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.48%.
Wabash 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 Wabash level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| RUOFF MORTGAGE COMPANY, INC. | 6 | 6.75% | $1,702 |
| DIAMOND RESIDENTIAL MORTGAGE CORPORATION | 2 | 7.13% | $6,203 |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | 2 | 6.94% | $6,800 |
| NEWREZ LLC | 2 | 6.94% | $4,886 |
| THRIVE MORTGAGE, LLC | 2 | 6.88% | $4,086 |
| HALLMARK HOME MORTGAGE, LLC | 1 | 6.75% | $6,122 |
| MOVEMENT MORTGAGE, LLC | 1 | 7.25% | $4,876 |
| Nations Lending Corporation | 1 | 7.13% | $3,048 |
| V.I.P. MORTGAGE, INC. | 1 | 6.49% | $4,987 |
| PLAZA HOME MORTGAGE, INC. | 1 | 6.25% | $2,863 |
| PNC Bank | 1 | 7.00% | $3,720 |
| POLARIS HOME FUNDING CORP. | 1 | 6.75% | $6,243 |
| CALIBER HOME LOANS, INC. | 1 | 5.75% | $5,528 |
| STOCKTON MORTGAGE CORPORATION | 1 | 7.63% | $4,910 |
| First Option Mortgage, LLC | 1 | 6.13% | $3,930 |
| FLAT BRANCH MORTGAGE, INC. | 1 | 7.63% | $3,371 |
The top Wabash USDA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with
6 USDA loans originated. Their average total fees are
$1,702, which is $4,501
lower than the next largest lender,
DIAMOND RESIDENTIAL MORTGAGE CORPORATION.
The lowest fee Wabash USDA lenders (with over 10 loans originated) are
.
The lowest rate Wabash USDA lenders (with over 10 loans originated) are
.