Decatur Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Decatur averaged
7.1%
for the week of 2025-06-18, compared to the national average of
6.81% for the same period.
The average rate for the prior week (2025-06-12) was
7.03% and
one month ago for the week of 2025-05-15, the
average rate was 6.9%.
Decatur's average rate one year ago was 7.14%.
For refis of the same type during the week of 2025-06-18, the average rate
was 7.11%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Decatur 30 Year Fixed Rate | 2025-06-18 | 7.1% |
| Decatur 30 Year Fixed Rate Refi | 2025-06-18 | 7.11% |
| Decatur 15 Year Fixed Rate | 2025-06-18 | 5.76% |
| Decatur 15 Year Fixed Rate Refi | 2025-06-18 | 5.86% |
| Decatur 30 Year FHA | 2025-06-18 | -0.1% |
| Decatur 30 Year FHA Refi | 2025-06-18 | 0.1% |
| Decatur 30 Year USDA | 2025-06-18 | 0% |
| Decatur 30 Year USDA Refi | 2025-06-18 | 0% |
| Decatur 30 Year VA | 2025-06-18 | -0.2% |
| Decatur 30 Year VA Refi | 2025-06-18 | 0.2% |
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.).
Decatur Average Closing Costs & Other Stats
Decatur, IN's 43 lenders originated 774
loans during 2024. The total origination value was $104,640,000, with an average loan value of
$135,194.
Decatur's average closing costs are $3,259.
The top Decatur lender as defined by loan originations is The Farmers & Merchants State Bank, with
48 loans originated. Their average total fees are
$3,114, which is $340
higher than the next largest lender,
RUOFF MORTGAGE COMPANY, INC..
The lowest fee Decatur lenders (with over 10 loans originated) are
MIDWEST AMERICA ($2,228), Three Rivers Federal Credit Union ($2,571), RUOFF MORTGAGE COMPANY, INC. ($2,774), First Merchants Bank ($2,971) and STOCKTON MORTGAGE CORPORATION ($2,985).
The lowest rate Decatur lenders (with over 10 loans originated) are
RUOFF MORTGAGE COMPANY, INC. (6.54%), Three Rivers Federal Credit Union (6.68%), MIDWEST AMERICA (6.78%), The Farmers & Merchants State Bank (6.85%) and STOCKTON MORTGAGE CORPORATION (6.90%).
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 | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| First Bank of Berne | $11,210,000 | $19,385,000 | 72.9% | 18.5% |
| The Farmers & Merchants State Bank | $21,140,000 | $17,125,000 | -19.0% | 16.4% |
| RUOFF MORTGAGE COMPANY, INC. | $8,045,000 | $11,715,000 | 45.6% | 11.2% |
| First Merchants Bank | $6,035,000 | $6,095,000 | 1.0% | 5.8% |
| Three Rivers Federal Credit Union | $4,995,000 | $6,055,000 | 21.2% | 5.8% |
| Fifth Third Bank | $2,560,000 | $4,755,000 | 85.7% | 4.5% |
| ProFed Federal Credit Union | $2,795,000 | $3,540,000 | 26.7% | 3.4% |
| QUICKEN LOANS, LLC | $2,085,000 | $2,985,000 | 43.2% | 2.9% |
| STOCKTON MORTGAGE CORPORATION | $2,675,000 | n/a | 2.6% | |
| MIDWEST AMERICA | $2,560,000 | $2,425,000 | -5.3% | 2.3% |
| Regions Bank | $2,105,000 | n/a | 2.0% | |
| GVC MORTGAGE, INC. | $1,145,000 | $2,010,000 | 75.5% | 1.9% |
| Mortgage Research Center, LLC | $525,000 | $1,620,000 | 208.6% | 1.5% |
| Union Savings Bank | $95,000 | $1,275,000 | 1,242.1% | 1.2% |
| DIAMOND RESIDENTIAL MORTGAGE CORPORATION | $600,000 | $1,255,000 | 109.2% | 1.2% |
| NEWREZ LLC | $620,000 | $815,000 | 31.5% | 0.8% |
| HALLMARK HOME MORTGAGE, LLC | $1,220,000 | $805,000 | -34.0% | 0.8% |
| TEACHERS CREDIT UNION | $1,590,000 | $690,000 | -56.6% | 0.7% |
| UNITED WHOLESALE MORTGAGE, LLC | $670,000 | n/a | 0.6% | |
| Old National Bank | $290,000 | $650,000 | 124.1% | 0.6% |
| CHURCHILL MORTGAGE CORPORATION | $645,000 | n/a | 0.6% | |
| GENEVA FINANCIAL, LLC | $615,000 | n/a | 0.6% | |
| Farm Credit Mid-America, ACA | $770,000 | $570,000 | -26.0% | 0.5% |
| VAN DYK MORTGAGE CORPORATION | $200,000 | $560,000 | 180.0% | 0.5% |
| PARTNERS 1ST Federal Credit Union | $315,000 | $535,000 | 69.8% | 0.5% |
| The Campbell & Fetter Bank | $515,000 | n/a | 0.5% | |
| Carrington Mortgage Services, LLC | $500,000 | n/a | 0.5% | |
| JPMorgan Chase Bank | $780,000 | $490,000 | -37.2% | 0.5% |
| Notre Dame Federal Credit Union Corporation | $420,000 | n/a | 0.4% | |
| MOVEMENT MORTGAGE, LLC | $415,000 | n/a | 0.4% | |
| Prosperity Home Mortgage, LLC | $380,000 | n/a | 0.4% | |
| Nations Lending Corporation | $775,000 | $370,000 | -52.3% | 0.4% |
| 1st Source Bank | $365,000 | n/a | 0.3% | |
| AMERISAVE MORTGAGE CORPORATION | $595,000 | $355,000 | -40.3% | 0.3% |
| AMERICAN FINANCING CORPORATION | $340,000 | n/a | 0.3% | |
| BEACON CREDIT UNION | $65,000 | $335,000 | 415.4% | 0.3% |
| Sunflower Bank | $315,000 | n/a | 0.3% | |
| The Garrett State Bank | $315,000 | n/a | 0.3% | |
| VILLAGE CAPITAL MORTGAGE | $315,000 | n/a | 0.3% | |
| FIRST COMMUNITY MORTGAGE, INC. | $155,000 | $310,000 | 100.0% | 0.3% |
| LOANDEPOT.COM, LLC | $1,140,000 | $310,000 | -72.8% | 0.3% |
| PNC Bank | $195,000 | $310,000 | 59.0% | 0.3% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $350,000 | $305,000 | -12.9% | 0.3% |
| FREEDOM MORTGAGE CORPORATION | $410,000 | $290,000 | -29.3% | 0.3% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $285,000 | n/a | 0.3% | |
| CROSSCOUNTRY MORTGAGE, LLC | $395,000 | $275,000 | -30.4% | 0.3% |
| NAVY FEDERAL CREDIT UNION | $270,000 | n/a | 0.3% | |
| NEW DAY FINANCIAL, LLC | $265,000 | n/a | 0.3% | |
| The Federal Savings Bank | $365,000 | $265,000 | -27.4% | 0.3% |
| AMERICAN FINANCIAL RESOURCES, INC. | $255,000 | n/a | 0.2% | |
| STAR Financial Bank | $255,000 | n/a | 0.2% | |
| First Federal Savings Bank | $45,000 | $250,000 | 455.6% | 0.2% |
| ROYAL UNITED MORTGAGE LLC | $75,000 | $230,000 | 206.7% | 0.2% |
| Flagstar Bank, FSB | $395,000 | $225,000 | -43.0% | 0.2% |
| Arvest Bank | $205,000 | n/a | 0.2% | |
| BROKER SOLUTIONS, INC. | $175,000 | $205,000 | 17.1% | 0.2% |
| CALCON MUTUAL MORTGAGE LLC | $205,000 | n/a | 0.2% | |
| Horizon Bank | $205,000 | n/a | 0.2% | |
| First Federal Bank of the Midwest | $200,000 | n/a | 0.2% | |
| Barrington Bank & Trust Company, N.A. | $135,000 | $195,000 | 44.4% | 0.2% |
| V.I.P. MORTGAGE, INC. | $435,000 | $195,000 | -55.2% | 0.2% |
| PENNYMAC LOAN SERVICES, LLC | $170,000 | $190,000 | 11.8% | 0.2% |
| GUARANTEED RATE AFFINITY, LLC | $175,000 | n/a | 0.2% | |
| MICHIGAN MUTUAL, INC. | $155,000 | $175,000 | 12.9% | 0.2% |
| Lake City Bank | $80,000 | $145,000 | 81.3% | 0.1% |
| Discover Bank | $120,000 | $140,000 | 16.7% | 0.1% |
| Merchants Bank of Indiana | $135,000 | n/a | 0.1% | |
| RELIANCE FIRST CAPITAL, LLC | $135,000 | n/a | 0.1% | |
| The Huntington National Bank | $1,235,000 | $115,000 | -90.7% | 0.1% |
| First Farmers Bank and Trust Company | $105,000 | n/a | 0.1% | |
| UNION HOME MORTGAGE CORP. | $230,000 | $105,000 | -54.3% | 0.1% |
| LOANPAL, LLC | $95,000 | n/a | 0.1% | |
| Fire Police City County Federal Credit Union | $90,000 | n/a | 0.1% | |
| Mr. Cooper ( Nationstar Mortgage ) | $350,000 | $85,000 | -75.7% | 0.1% |
| INDIANA MEMBERS CREDIT UNION | $75,000 | n/a | 0.1% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $75,000 | n/a | 0.1% | |
| Wells Fargo Bank | $55,000 | $65,000 | 18.2% | 0.1% |
| Figure Lending LLC | $80,000 | $60,000 | -25.0% | 0.1% |
| FINANCE OF AMERICA REVERSE LLC | $55,000 | $55,000 | 0.0% | 0.1% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $55,000 | n/a | 0.1% | |
| Citizens Bank | $25,000 | $25,000 | 0.0% | 0.0% |
| Superior Credit Union, Inc. | $25,000 | n/a | 0.0% |
Decatur's top lender by overall market share is First Bank of Berne, with 18.5% market share. In second place, with 16.4%, is The Farmers & Merchants State Bank, having originated $17,125,000 in loans. In third place, with 11.2%, is RUOFF MORTGAGE COMPANY, INC., having originated $11,715,000 in loans. In fourth place, with 5.8%, is First Merchants Bank, having originated $6,095,000 in loans. In fifth place, with 5.8%, is Three Rivers Federal Credit Union, having originated $6,055,000 in loans.
Decatur, IN Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 324 | $61,050,000 | $188,426 |
| Other | 149 | $10,035,000 | $67,349 |
| Cash Out Refi | 103 | $13,535,000 | $131,408 |
| Refi | 100 | $13,900,000 | $139,000 |
| Home Improvement | 98 | $6,120,000 | $62,449 |
Decatur's most frequently cited loan purpose was Home Purchase, with 324 originations. The 2nd most popular reason was Other, with 149 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 244 | $40,170,000 | $164,631 |
| Over 8% | 181 | $12,965,000 | $71,630 |
| 7-8% | 142 | $21,600,000 | $152,113 |
| 5-6% | 36 | $9,340,000 | $259,444 |
| <2.5% | 4 | $40,000 | $10,000 |
| 4-5% | 2 | $310,000 | $155,000 |
During 2024, Decatur's most frequently originated rate bucket was 6-7%, with 244 originations.
Loan Sizing (Decatur, IN MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 339 | $17,155,000 | $50,605 |
| $100k-200k | 296 | $42,200,000 | $142,568 |
| $200k-400k | 122 | $33,300,000 | $272,951 |
| $400k-600k | 10 | $4,880,000 | $488,000 |
| $600k-1000k | 5 | $3,995,000 | $799,000 |
| $Over $1MM | 2 | $3,110,000 | $1,555,000 |
Decatur's loan sizing saw the bucket of loans from $100,000 or less with 339 originations, totaling $17,155,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 194 | $38,580,000 | $198,866 |
| Under 20% | 130 | $5,310,000 | $40,846 |
| 20-40% | 118 | $10,570,000 | $89,576 |
| 60-80% | 103 | $20,605,000 | $200,049 |
| 40-60% | 60 | $8,280,000 | $138,000 |
| Over 100% | 3 | $765,000 | $255,000 |
Decatur's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 194 originations, totaling $38,580,000 in origination value.