Decatur Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Decatur averaged 6.76% for the week of 2024-04-11, compared to the national average of 6.88% for the same period.

The average rate for the prior week (2024-04-04) was 6.7% and one month ago for the week of 2024-03-07, the average rate was 7.06%.

Decatur's average rate one year ago was 6.36%.

For refis of the same type during the week of 2024-04-11, the average rate was 6.78%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-04-11 6.88%
Decatur 30 Year Fixed Rate 2024-04-11 6.76%
Decatur 30 Year Fixed Rate Refi 2024-04-11 6.78%
Decatur 15 Year Fixed Rate 2024-04-11 5.96%
Decatur 15 Year Fixed Rate Refi 2024-04-11 6.76%
Decatur 30 Year FHA 2024-04-11 6.54%
Decatur 30 Year FHA Refi 2024-04-11 6.84%
Decatur 30 Year USDA 2024-04-11 6.81%
Decatur 30 Year USDA Refi 2024-04-11 6.71%
Decatur 30 Year VA 2024-04-11 6.57%
Decatur 30 Year VA Refi 2024-04-11 6.57%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Decatur, IN.

Decatur Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Decatur, IN market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
The Farmers & Merchants State Bank 66 6.46% $3,602
RUOFF MORTGAGE COMPANY, INC. 31 7.05% $2,343
Three Rivers Federal Credit Union 13 6.97% $2,588
First Merchants Bank 12 6.99% $2,921
THRIVE MORTGAGE, LLC 11 6.90% $3,866
ProFed Federal Credit Union 7 6.23% $2,244
HALLMARK HOME MORTGAGE, LLC 7 7.43% $3,877
TEACHERS CREDIT UNION 6 7.15% $2,335
Fifth Third Bank 5 7.15% $2,761
MIDWEST AMERICA 5 7.65% $2,243
GVC MORTGAGE, INC. 5 7.05% $4,694
JPMorgan Chase Bank 4 6.84% $3,013
Farm Credit Mid-America, ACA 3 7.38% $4,317
The Huntington National Bank 3 7.08% $2,422
V.I.P. MORTGAGE, INC. 2 7.38% $3,051
NEWREZ LLC 2 7.00% $4,118
Old National Bank 2 7.25% $2,398
QUICKEN LOANS, LLC 2 6.62% $4,108
VAN DYK MORTGAGE CORPORATION 2 7.56% $3,366
ACADEMY MORTGAGE CORPORATION 2 6.63% $4,957
Northwest Bank 1 6.88% $2,916
UNION HOME MORTGAGE CORP. 1 7.88% $2,816
Flagstar Bank, FSB 1 7.13% $6,423
U.S. Bank 1 6.63% $2,545
First United Bank and Trust Company 1 7.63% $3,570
FIRST COMMUNITY MORTGAGE, INC. 1 7.13% $1,789
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.13% $2,915
Crossroads Bank 1 5.25% $1,732
CROSSCOUNTRY MORTGAGE, LLC 1 6.63% $3,906
GSF Mortgage Corporation 1 5.50% $2,806
LOANDEPOT.COM, LLC 1 7.50% $4,906
FORT FINANCIAL Federal Credit Union 1 8.00% $2,545
Mr. Cooper ( Nationstar Mortgage ) 1 5.99% $6,031
Centra Credit Union 1 5.63% $2,907

Decatur Average Closing Costs & Other Stats

Decatur, IN's 34 lenders originated 647 loans during 2023. The total origination value was $86,995,000, with an average loan value of $134,459.

Decatur's average closing costs are $3,141.

The top Decatur lender as defined by loan originations is The Farmers & Merchants State Bank, with 66 loans originated. Their average total fees are $3,602, which is $1,259 higher than the next largest lender, RUOFF MORTGAGE COMPANY, INC..

The lowest fee Decatur lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($2,343), Three Rivers Federal Credit Union ($2,588), First Merchants Bank ($2,921), The Farmers & Merchants State Bank ($3,602) and THRIVE MORTGAGE, LLC ($3,866).

The lowest rate Decatur lenders (with over 10 loans originated) are The Farmers & Merchants State Bank (6.46%), THRIVE MORTGAGE, LLC (6.90%), Three Rivers Federal Credit Union (6.97%), First Merchants Bank (6.99%) and RUOFF MORTGAGE COMPANY, INC. (7.05%).

Decatur, IN Mortgage Market Share & Volume

Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

Name 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
The Farmers & Merchants State Bank $26,810,000 $21,140,000 -21.1% 24.3%
First Bank of Berne $16,360,000 $11,210,000 -31.5% 12.9%
RUOFF MORTGAGE COMPANY, INC. $11,905,000 $8,045,000 -32.4% 9.2%
First Merchants Bank $6,920,000 $6,035,000 -12.8% 6.9%
Three Rivers Federal Credit Union $9,485,000 $4,995,000 -47.3% 5.7%
THRIVE MORTGAGE, LLC $210,000 $3,710,000 1,666.7% 4.3%
ProFed Federal Credit Union $3,560,000 $2,795,000 -21.5% 3.2%
Fifth Third Bank $5,990,000 $2,560,000 -57.3% 2.9%
MIDWEST AMERICA $3,980,000 $2,560,000 -35.7% 2.9%
QUICKEN LOANS, LLC $3,020,000 $2,085,000 -31.0% 2.4%
TEACHERS CREDIT UNION $1,105,000 $1,590,000 43.9% 1.8%
Union Savings And Loan Association $1,320,000 n/a 1.5%
The Huntington National Bank $415,000 $1,235,000 197.6% 1.4%
HALLMARK HOME MORTGAGE, LLC $175,000 $1,220,000 597.1% 1.4%
GVC MORTGAGE, INC. $1,600,000 $1,145,000 -28.4% 1.3%
LOANDEPOT.COM, LLC $1,260,000 $1,140,000 -9.5% 1.3%
ACADEMY MORTGAGE CORPORATION $555,000 $780,000 40.5% 0.9%
JPMorgan Chase Bank $820,000 $780,000 -4.9% 0.9%
Nations Lending Corporation $775,000 n/a 0.9%
Farm Credit Mid-America, ACA $1,325,000 $770,000 -41.9% 0.9%
NEWREZ LLC $115,000 $620,000 439.1% 0.7%
DIAMOND RESIDENTIAL MORTGAGE CORPORATION $385,000 $600,000 55.8% 0.7%
AMERISAVE MORTGAGE CORPORATION $575,000 $595,000 3.5% 0.7%
Mortgage Research Center, LLC $1,140,000 $525,000 -53.9% 0.6%
V.I.P. MORTGAGE, INC. $305,000 $435,000 42.6% 0.5%
FREEDOM MORTGAGE CORPORATION $930,000 $410,000 -55.9% 0.5%
CROSSCOUNTRY MORTGAGE, LLC $970,000 $395,000 -59.3% 0.5%
Flagstar Bank, FSB $1,610,000 $395,000 -75.5% 0.5%
The Federal Savings Bank $365,000 n/a 0.4%
Mr. Cooper ( Nationstar Mortgage ) $260,000 $350,000 34.6% 0.4%
MUTUAL OF OMAHA MORTGAGE, INC. $85,000 $350,000 311.8% 0.4%
PARTNERS 1ST Federal Credit Union $315,000 n/a 0.4%
Old National Bank $405,000 $290,000 -28.4% 0.3%
EQUITY RESOURCES, INC. $250,000 n/a 0.3%
CARDINAL FINANCIAL $245,000 n/a 0.3%
Crossroads Bank $230,000 n/a 0.3%
UNION HOME MORTGAGE CORP. $365,000 $230,000 -37.0% 0.3%
LENDINGHOME FUNDING CORPORATION $215,000 n/a 0.2%
Northwest Bank $215,000 n/a 0.2%
U.S. Bank $240,000 $200,000 -16.7% 0.2%
VAN DYK MORTGAGE CORPORATION $230,000 $200,000 -13.0% 0.2%
PNC Bank $1,850,000 $195,000 -89.5% 0.2%
Centra Credit Union $185,000 n/a 0.2%
BROKER SOLUTIONS, INC. $260,000 $175,000 -32.7% 0.2%
PENNYMAC LOAN SERVICES, LLC $160,000 $170,000 6.3% 0.2%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $130,000 $165,000 26.9% 0.2%
FIRST COMMUNITY MORTGAGE, INC. $155,000 n/a 0.2%
MICHIGAN MUTUAL, INC. $155,000 n/a 0.2%
MEMBER FIRST MORTGAGE, LLC $85,000 $145,000 70.6% 0.2%
Bank of England $135,000 n/a 0.2%
Barrington Bank & Trust Company, N.A. $135,000 n/a 0.2%
EUSTIS AND AMERICAN MORTGAGE COMPANY $125,000 n/a 0.1%
First United Bank and Trust Company $125,000 n/a 0.1%
GSF Mortgage Corporation $165,000 $125,000 -24.2% 0.1%
Discover Bank $120,000 n/a 0.1%
FORT FINANCIAL Federal Credit Union $115,000 n/a 0.1%
SUPERIOR FINANCIAL SOLUTIONS, LLC $105,000 n/a 0.1%
Union Savings Bank $815,000 $95,000 -88.3% 0.1%
Figure Lending LLC $15,000 $80,000 433.3% 0.1%
Lake City Bank $80,000 n/a 0.1%
FORUM Credit Union $75,000 n/a 0.1%
ROYAL UNITED MORTGAGE LLC $65,000 $75,000 15.4% 0.1%
AG Credit, Agricultural Credit Association $325,000 $65,000 -80.0% 0.1%
BEACON CREDIT UNION $180,000 $65,000 -63.9% 0.1%
Citizens State Bank of New Castle $25,000 $55,000 120.0% 0.1%
FINANCE OF AMERICA REVERSE LLC $55,000 n/a 0.1%
Wells Fargo Bank $185,000 $55,000 -70.3% 0.1%
First Federal Savings Bank $35,000 $45,000 28.6% 0.1%
Citizens Bank $25,000 n/a 0.0%

Decatur's top lender by overall market share is The Farmers & Merchants State Bank, with 24.3% market share. In second place, with 12.9%, is First Bank of Berne, having originated $11,210,000 in loans. In third place, with 9.2%, is RUOFF MORTGAGE COMPANY, INC., having originated $8,045,000 in loans. In fourth place, with 6.9%, is First Merchants Bank, having originated $6,035,000 in loans. In fifth place, with 5.7%, is Three Rivers Federal Credit Union, having originated $4,995,000 in loans.


Decatur Housing Market Trends (Median, Average Prices & Listing Count)

Realtor.com - Decatur (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 $89,300 (11.1%) $112,290 (3.6%) 0.00 58
2018-02-01 $92,400 (3.6%) $123,771 (6.1%) 0.00 54
2018-03-01 $99,500 (10.7%) $133,926 (12.7%) 0.00 55
2018-04-01 $110,000 (22.4%) $137,019 (17.9%) 0.00 48
2018-05-01 $114,000 (27.4%) $141,621 (25.6%) 0.00 45
2018-06-01 $104,250 (20.0%) $138,827 (8.9%) 0.00 56
2018-07-01 $102,700 (2.8%) $141,062 (7.9%) 0.00 58
2018-08-01 $103,175 (2.9%) $138,255 (6.1%) 0.00 59
2018-09-01 $115,000 (15.1%) $139,259 (4.1%) 0.00 65
2018-10-01 $109,900 (2.7%) $138,302 (2.0%) 0.00 68
2018-11-01 $108,700 (9.0%) $130,540 (-3.1%) 0.00 69
2018-12-01 $112,900 (25.5%) $134,284 (17.4%) 0.00 61
2019-01-01 $111,125 (24.4%) $130,000 (15.8%) 0.00 57
2019-02-01 $117,450 (27.1%) $134,320 (8.5%) 0.00 50
2019-03-01 $117,714 (18.3%) $135,682 (1.3%) 0.00 53
2019-04-01 $129,450 (17.7%) $148,742 (8.6%) 0.00 54
2019-05-01 $144,990 (27.2%) $156,494 (10.5%) 0.00 47
2019-06-01 $144,990 (39.1%) $172,309 (24.1%) 0.00 50
2019-07-01 $133,750 (30.2%) $161,261 (14.3%) 0.00 56
2019-08-01 $135,382 (31.2%) $156,936 (13.5%) 0.00 58
2019-09-01 $135,955 (18.2%) $150,312 (7.9%) 0.00 54
2019-10-01 $134,886 (22.7%) $144,678 (4.6%) 0.00 54
2019-11-01 $128,900 (18.6%) $142,842 (9.4%) 0.00 50
2019-12-01 $128,450 (13.8%) $147,938 (10.2%) 0.00 48
2020-01-01 $118,300 (6.5%) $130,551 (0.4%) 0.00 44
2020-02-01 $119,900 (2.1%) $142,745 (6.3%) 0.00 41
2020-03-01 $127,750 (8.5%) $160,582 (18.4%) 0.00 34
2020-04-01 $138,450 (7.0%) $173,269 (16.5%) 0.00 31
2020-05-01 $199,500 (37.6%) $204,890 (30.9%) 0.00 23
2020-06-01 $183,750 (26.7%) $205,011 (19.0%) 0.00 24
2020-07-01 $124,850 (-6.7%) $163,870 (1.6%) 0.00 30
2020-08-01 $120,000 (-11.4%) $160,520 (2.3%) 0.00 26
2020-09-01 $145,750 (7.2%) $174,130 (15.9%) 0.00 28
2020-10-01 $129,900 (-3.7%) $161,514 (11.6%) 0.00 35
2020-11-01 $124,900 (-3.1%) $173,997 (21.8%) 0.00 31
2020-12-01 $103,650 (-19.3%) $140,413 (-5.1%) 0.00 20
2021-01-01 $108,500 (-8.3%) $142,054 (8.8%) 0.00 20
2021-02-01 $137,950 (15.1%) $221,685 (55.3%) 0.00 15
2021-03-01 $156,499 (22.5%) $241,906 (50.6%) 0.00 16
2021-04-01 $126,725 (-8.5%) $258,798 (49.4%) 0.00 16
2021-05-01 $114,900 (-42.4%) $280,410 (36.9%) 0.00 13
2021-06-01 $108,675 (-40.9%) $228,478 (11.5%) 0.00 19
2021-07-01 $134,700 (7.9%) $202,597 (23.6%) 0.00 24
2021-08-01 $157,850 (31.5%) $219,276 (36.6%) 0.00 21
2021-09-01 $177,400 (21.7%) $243,091 (39.6%) 0.00 18
2021-10-01 $184,900 (42.3%) $252,080 (56.1%) 0.00 18
2021-11-01 $184,900 (48.0%) $249,470 (43.4%) 0.00 15
2021-12-01 $141,725 (36.7%) $213,390 (52.0%) 0.00 14
2022-01-01 $148,900 (37.2%) $250,573 (76.4%) 0.00 14
2022-02-01 $199,222 (44.4%) $288,768 (30.3%) 0.00 14
2022-03-01 $180,950 (15.6%) $263,449 (8.9%) 0.00 16
2022-04-01 $217,222 (71.4%) $265,124 (2.4%) 0.00 20
2022-05-01 $198,561 (72.8%) $256,593 (-8.5%) 0.00 21
2022-06-01 $177,400 (63.2%) $242,899 (6.3%) 0.00 28
2022-07-01 $177,400 (31.7%) $240,154 (18.5%) 0.00 30
2022-08-01 $159,900 (1.3%) $211,955 (-3.3%) 0.00 30
2022-09-01 $144,950 (-18.3%) $203,287 (-16.4%) 0.00 33
2022-10-01 $170,000 (-8.1%) $245,614 (-2.6%) 0.00 33
2022-11-01 $190,224 (2.9%) $255,180 (2.3%) 0.00 30
2022-12-01 $199,900 (41.1%) $254,070 (19.1%) 0.00 25
2023-01-01 $232,927 (56.4%) $231,618 (-7.6%) 0.00 20
2023-02-01 $229,927 (15.4%) $219,833 (-23.9%) 0.00 19
2023-03-01 $235,988 (30.4%) $230,560 (-12.5%) 0.00 24
2023-04-01 $218,449 (0.6%) $237,064 (-10.6%) 0.00 21
2023-05-01 $234,950 (18.3%) $237,115 (-7.6%) 0.00 22
2023-06-01 $209,575 (18.1%) $238,590 (-1.8%) 0.00 20
2023-07-01 $202,450 (14.1%) $258,102 (7.5%) 0.00 23
2023-08-01 $258,888 (61.9%) $254,494 (20.1%) 0.00 22
2023-09-01 $239,500 (65.2%) $247,173 (21.6%) 0.00 27
2023-10-01 $239,975 (41.2%) $234,168 (-4.7%) 0.00 33
2023-11-01 $241,183 (26.8%) $244,177 (-4.3%) 0.00 37
2023-12-01 $244,900 (22.5%) $227,327 (-10.5%) 0.00 32
2024-01-01 $233,500 (0.3%) $220,266 (-4.9%) 0.00 34
2024-02-01 $267,383 (16.3%) $240,748 (9.5%) 0.00 27
2024-03-01 $259,900 (10.1%) $249,312 (8.1%) 0.00 31
Decatur's median listing price for 2024-03-01 was $259,900, a difference of $23,912 (10.1%) versus the prior year and $-7,483 versus the prior month.

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

Decatur's average listing price for 2024-03-01 was $249,312, a difference of $18,752 (8.1%) versus the prior year and $8,564 versus the prior month.

For the 2024-03-01 period, Decatur had 31 MLS listings, a difference of 4 listings (15%) versus the prior month and 7 listings (29%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Decatur (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,543 sqft
2018-02-01 0 days 1,614 sqft
2018-03-01 0 days 1,581 sqft
2018-04-01 0 days 1,686 sqft
2018-05-01 0 days 1,573 sqft
2018-06-01 0 days 1,441 sqft
2018-07-01 0 days 1,680 sqft
2018-08-01 0 days 1,691 sqft
2018-09-01 0 days 1,616 sqft
2018-10-01 0 days 1,583 sqft
2018-11-01 0 days 1,583 sqft
2018-12-01 0 days 1,591 sqft
2019-01-01 0 days 1,574 sqft
2019-02-01 0 days 1,728 sqft
2019-03-01 0 days 1,675 sqft
2019-04-01 0 days 1,657 sqft
2019-05-01 0 days 1,802 sqft
2019-06-01 0 days 1,812 sqft
2019-07-01 0 days 1,772 sqft
2019-08-01 0 days 1,737 sqft
2019-09-01 0 days 1,690 sqft
2019-10-01 0 days 1,662 sqft
2019-11-01 0 days 1,652 sqft
2019-12-01 0 days 1,662 sqft
2020-01-01 0 days 1,675 sqft
2020-02-01 0 days 1,772 sqft
2020-03-01 0 days 1,756 sqft
2020-04-01 0 days 1,767 sqft
2020-05-01 0 days 1,804 sqft
2020-06-01 0 days 1,956 sqft
2020-07-01 0 days 1,813 sqft
2020-08-01 0 days 1,562 sqft
2020-09-01 0 days 1,902 sqft
2020-10-01 0 days 1,792 sqft
2020-11-01 0 days 1,730 sqft
2020-12-01 0 days 1,581 sqft
2021-01-01 0 days 1,467 sqft
2021-02-01 0 days 1,461 sqft
2021-03-01 0 days 1,551 sqft
2021-04-01 0 days 1,785 sqft
2021-05-01 0 days 1,850 sqft
2021-06-01 0 days 1,722 sqft
2021-07-01 0 days 1,728 sqft
2021-08-01 0 days 1,800 sqft
2021-09-01 0 days 1,827 sqft
2021-10-01 0 days 2,003 sqft
2021-11-01 0 days 2,018 sqft
2021-12-01 0 days 2,024 sqft
2022-01-01 0 days 1,751 sqft
2022-02-01 0 days 1,766 sqft
2022-03-01 0 days 1,708 sqft
2022-04-01 0 days 2,002 sqft
2022-05-01 0 days 1,894 sqft
2022-06-01 0 days 1,797 sqft
2022-07-01 0 days 1,803 sqft
2022-08-01 0 days 1,669 sqft
2022-09-01 0 days 1,656 sqft
2022-10-01 0 days 1,680 sqft
2022-11-01 0 days 1,820 sqft
2022-12-01 0 days 1,606 sqft
2023-01-01 0 days 1,482 sqft
2023-02-01 0 days 1,476 sqft
2023-03-01 0 days 1,645 sqft
2023-04-01 0 days 1,588 sqft
2023-05-01 0 days 1,522 sqft
2023-06-01 0 days 1,868 sqft
2023-07-01 0 days 1,940 sqft
2023-08-01 0 days 1,824 sqft
2023-09-01 0 days 1,830 sqft
2023-10-01 0 days 1,792 sqft
2023-11-01 0 days 1,763 sqft
2023-12-01 0 days 1,735 sqft
2024-01-01 0 days 1,735 sqft
2024-02-01 0 days 1,792 sqft
2024-03-01 0 days 1,790 sqft
Decatur's median listing age (time on market) for 2024-03-01 was 0 days.

Decatur's median square footage for active listings during the 2024-03-01 period was 1,790 sqft. One year prior, the average listing was 1,645 sqft.

Decatur, IN Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 296 $53,060,000 $179,257
Cash Out Refi 130 $16,090,000 $123,769
Other 98 $6,050,000 $61,735
Refi 68 $8,510,000 $125,147
Home Improvement 55 $3,285,000 $59,727

Decatur's most frequently cited loan purpose was Home Purchase, with 296 originations. The 2nd most popular reason was Cash Out Refi, with 130 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 178 $28,340,000 $159,213
Over 8% 172 $11,140,000 $64,767
7-8% 157 $22,325,000 $142,197
5-6% 69 $11,575,000 $167,754
4-5% 8 $1,060,000 $132,500
<2.5% 4 $20,000 $5,000

During 2023, Decatur's most frequently originated rate bucket was 6-7%, with 178 originations.

Loan Sizing (Decatur, IN MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 302 $15,730,000 $52,086
$100k-200k 214 $30,340,000 $141,776
$200k-400k 118 $31,810,000 $269,576
$400k-600k 8 $3,840,000 $480,000
$600k-1000k 4 $3,070,000 $767,500
$Over $1MM 1 $2,205,000 $2,205,000

Decatur's loan sizing saw the bucket of loans from $100,000 or less with 302 originations, totaling $15,730,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 195 $36,685,000 $188,128
Under 20% 127 $5,235,000 $41,220
20-40% 111 $8,695,000 $78,333
60-80% 92 $15,260,000 $165,870
40-60% 60 $8,070,000 $134,500
Over 100% 3 $435,000 $145,000

Decatur's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 195 originations, totaling $36,685,000 in origination value.