Indiana USDA Loan Rates, Closing Costs & Stats

Indiana

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • 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.

    Indiana USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Indiana averaged 6.85% for the week of 2023-12-08, compared to the national average (all USDA variants) of 6.821% for the same period.

    Indiana's average USDA mortgage closing costs are $3,762.

    The average rate for the prior week (2023-12-01) was 6.7% and one month ago for the week of 2023-11-03, the average rate was 7.44%.

    The average rate one year ago was 6.14%.

    For refis of the same type during the week of 2023-12-08, the average rate was 5.87%.

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

    Indiana 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 Indiana level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    RUOFF MORTGAGE COMPANY, INC. 433 5.09% $2,669
    GVC MORTGAGE, INC. 230 5.42% $5,056
    CALIBER HOME LOANS, INC. 159 4.75% $4,634
    HOME POINT FINANCIAL CORPORATION 88 4.69% $5,033
    AMERIFIRST FINANCIAL CORPORATION 76 5.02% $6,164
    MORTGAGE MASTERS OF INDIANA, INC. 74 4.95% $4,866
    Wolfe Financial, Inc 72 5.11% $4,873
    UNITED WHOLESALE MORTGAGE, LLC 50 4.95% $4,823
    AMERICAN PACIFIC MORTGAGE CORPORATION 49 5.23% $6,478
    Century Mortgage Company DBA Century Lending Company 49 4.45% $5,252
    HALLMARK HOME MORTGAGE, LLC 46 5.10% $6,471
    PLAZA HOME MORTGAGE, INC. 40 4.71% $3,308
    CROSSCOUNTRY MORTGAGE, LLC 39 5.50% $5,989
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 35 5.37% $5,730
    AMERICAN MORTGAGE SERVICE COMPANY 34 5.22% $4,502
    UNIVERSITY LENDING GROUP, LLC 33 4.52% $4,664
    DIRECT MORTGAGE LOANS, LLC 32 5.14% $7,446
    Fifth Third Bank 31 4.68% $3,741
    Flanagan State Bank 28 5.00% $6,085
    VAN DYK MORTGAGE CORPORATION 28 5.40% $2,722
    Flagstar Bank, FSB 27 4.37% $5,161
    CARDINAL FINANCIAL 26 5.38% $5,931
    PRIMELENDING, A PLAINSCAPITAL COMPANY 25 5.05% $5,262
    PENNYMAC LOAN SERVICES, LLC 24 3.29% $5,194
    FAIR WAY LENDING LLC 23 5.31% $5,860
    UNION HOME MORTGAGE CORP. 23 4.44% $5,038
    SUCCESS MORTGAGE PARTNERS, INC. 21 5.21% $6,444
    First Financial Bank 21 4.71% $4,431
    MOVEMENT MORTGAGE, LLC 21 5.65% $7,045
    NEWREZ LLC 19 5.64% $4,735
    EVERETT FINANCIAL, INC. 19 5.35% $3,273
    GUARANTY HOME MORTGAGE CORPORATION 18 4.47% $4,303
    VANDERBILT MORTGAGE AND FINANCE, INC. 17 5.02% $7,448
    Bank of England 17 4.35% $5,064
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 17 5.68% $6,394
    AMCAP MORTGAGE, LTD. 17 5.01% $5,013
    German American Bank 16 4.54% $4,287
    NATIONS RELIABLE LENDING, LLC 16 5.27% $5,750
    ACADEMY MORTGAGE CORPORATION 16 4.97% $6,275
    First Merchants Bank 15 4.33% $3,970
    First Option Mortgage, LLC 15 4.98% $6,695
    GUARANTEED RATE, INC. 14 5.11% $5,004
    CMG MORTGAGE, INC. 14 4.96% $4,583
    Regions Bank 14 6.06% $3,803
    Old National Bank 12 4.57% $4,637
    GENEVA FINANCIAL, LLC 12 5.41% $5,713
    Northpointe Bank 11 4.49% $4,975
    Jackson County Bank 11 4.82% $3,685
    MID AMERICA MORTGAGE, INC. 11 4.39% $3,887
    STOCKTON MORTGAGE CORPORATION 11 5.11% $6,022
    V.I.P. MORTGAGE, INC. 11 5.18% $6,113
    EVANSVILLE TEACHERS 10 5.03% $3,885
    University Bank 10 5.88% $6,173
    PRIMARY RESIDENTIAL MORTGAGE, INC. 10 5.09% $4,460
    Hometown Lenders, Inc. 10 5.35% $4,968
    POLARIS HOME FUNDING CORP. 10 4.76% $6,290
    Blue Ridge Bank 9 4.47% $5,074
    OPEN MORTGAGE, LLC 9 5.18% $7,242
    PANORAMA MORTGAGE GROUP, LLC 9 5.68% $6,176
    Mortgage Research Center, LLC 9 6.09% $2,135
    Equity Prime Mortgage LLC 8 5.36% $4,620
    Magnolia Bank 7 4.23% $6,457
    BROKER SOLUTIONS, INC. 7 5.91% $5,858
    DAS Acquisition Company, LLC 7 5.32% $4,755
    FINANCE OF AMERICA MORTGAGE LLC 7 3.96% $5,431
    INTERLINC MORTGAGE SERVICES, LLC 7 5.25% $4,181
    Paramount Residential Mortgage Group, Inc. 6 4.52% $6,002
    First Financial Bank 6 4.96% $4,831
    FBC MORTGAGE, LLC 6 4.88% $7,256
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 6 4.98% $5,126
    DHI MORTGAGE COMPANY, LTD. 6 3.79% $8,909
    Horizon Bank 6 4.21% $3,900
    THRIVE MORTGAGE, LLC 6 5.42% $4,185
    MJW Financial LLC 6 4.69% $5,305
    FLAT BRANCH MORTGAGE, INC. 6 4.94% $3,867
    Bankers' Bank 5 5.25% $3,575
    NVR Mortgage Finance, Inc. 5 3.55% $10,509
    First Savings Bank 5 4.78% $4,114
    PNC Bank 5 4.43% $3,120
    LOANDEPOT.COM, LLC 5 5.78% $5,973
    MICHIGAN MUTUAL, INC. 5 5.23% $5,768
    Sierra Pacific Mortgage Company, Inc. 5 4.78% $5,532
    CHURCHILL MORTGAGE CORPORATION 5 5.10% $7,176
    Carrington Mortgage Services, LLC 5 4.55% $6,635
    SOUTHWEST FUNDING, LP 5 4.65% $6,750
    1ST SIGNATURE LENDING, LLC 4 4.88% $6,929
    EUSTIS AND AMERICAN MORTGAGE COMPANY 4 5.38% $5,061
    FIRST CENTENNIAL MORTGAGE CORPORATION 4 4.78% $4,269
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 4.94% $4,253
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 5.31% $5,577
    LEADERONE FINANCIAL CORPORATION 4 5.22% $5,555
    Northwest Bank 3 4.13% $3,745
    Servion, Inc. 3 3.79% $3,654
    Loan Simple, Inc. 3 4.21% $4,734
    Centier Bank 3 4.50% $3,286
    Union Savings Bank 3 6.42% $4,362
    MYCUMORTGAGE, LLC 3 6.04% $6,131
    Nations Lending Corporation 3 5.58% $4,136
    FIRST COMMUNITY MORTGAGE, INC. 3 5.96% $5,460
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 4.67% $4,455
    ENVOY MORTGAGE, LTD 3 4.50% $6,616
    VICTORY MORTGAGE, L.L.C. 3 3.08% $4,619
    ProFed Federal Credit Union 3 4.54% $3,257
    The Friendship State Bank 2 4.50% $3,293
    Citizens Bank 2 5.00% $3,829
    First Harrison Bank 2 5.00% $3,888
    AMERICAN FINANCIAL RESOURCES, INC. 2 4.19% $4,530
    WRIGHT-PATT CREDIT UNION, INC. 2 5.44% $3,363
    RAPID MORTGAGE COMPANY 2 4.13% $6,273
    Gateway First Bank 2 5.75% $5,308
    FREEDOM MORTGAGE CORPORATION 2 4.56% $7,974
    HOMESIDE FINANCIAL, LLC 2 3.75% $5,530
    DRAPER AND KRAMER MORTGAGE CORP. 2 5.25% $4,216
    CRESCENT MORTGAGE COMPANY 2 5.63% $3,118
    INLANTA MORTGAGE, INC. 2 5.31% $3,921
    Community Mortgage Banc Corporation 2 6.81% $3,337
    Stock Yards Bank & Trust Company 2 6.50% $3,957
    Civista Bank 2 4.31% $3,538
    SUN WEST MORTGAGE COMPANY, INC. 2 5.13% $6,283
    T2 FINANCIAL LLC 2 4.19% $7,192
    U.S. Bank 2 4.50% $4,317
    ENDEAVOR CAPITAL, LLC. 1 5.50% $6,281
    Mortgage Assurance Inc. 1 3.88% $4,067
    Merchants Bank of Indiana 1 5.38% $3,572
    MEMBER FIRST MORTGAGE, LLC 1 5.75% $4,301
    LIBERTY HOME MORTGAGE CORPORATION 1 5.63% $5,682
    Ixonia Bank 1 4.13% $3,928
    INSPIRE HOME LOANS INC. 1 5.13% $7,539
    OAK MORTGAGE, LLC 1 3.38% $5,245
    OCEANSIDE MORTGAGE COMPANY 1 3.88% $1,264
    Home State Bank 1 6.38% $4,295
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 3.63% $5,429
    Plains Commerce Bank 1 6.00% $7,245
    PLANET HOME LENDING, LLC 1 5.25% $4,604
    First Guaranty Mortgage Corporation 1 3.25% $3,176
    First Federal Savings Bank 1 4.38% $4,249
    Prosperity Home Mortgage, LLC 1 6.63% $7,455
    MIDLAND MORTGAGE CORPORATION 1 4.13% $1,987
    RELIANCE FIRST CAPITAL, LLC 1 5.75% $3,677
    EMM LOANS LLC 1 4.63% $5,596
    STEARNS LENDING, LLC 1 3.00% $6,284
    The Federal Savings Bank 1 2.75% $4,474
    TOP FLITE FINANCIAL, INC. 1 5.00% $6,258
    BOKF 1 4.63% $7,308
    BAYSHORE MORTGAGE FUNDING, LLC 1 5.63% $7,837
    Barrington Bank & Trust Company, N.A. 1 4.13% $8,793
    AmRes Corporation 1 5.50% $5,781
    AMERICAN FINANCING CORPORATION 1 5.75% $2,779
    Waterstone Mortgage Corporation 1 6.63% $8,877

    The top Indiana USDA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 433 USDA loans originated. Their average total fees are $2,669, which is $2,387 lower than the next largest lender, GVC MORTGAGE, INC..

    The lowest fee Indiana USDA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($2,669), VAN DYK MORTGAGE CORPORATION ($2,722), EVERETT FINANCIAL, INC. ($3,273), PLAZA HOME MORTGAGE, INC. ($3,308) and Jackson County Bank ($3,685).

    The lowest rate Indiana USDA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.29%), First Merchants Bank (4.33%), Bank of England (4.35%), Flagstar Bank, FSB (4.37%) and MID AMERICA MORTGAGE, INC. (4.39%).