Indiana USDA Loan Rates, Closing Costs & Stats

Indiana

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    • 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 6.57% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

    Indiana's average USDA mortgage closing costs are $3,872.

    The average rate for the prior week (2024-04-05) was 6.8% and one month ago for the week of 2024-03-08, the average rate was 6.66%.

    The average rate one year ago was 6.47%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.76%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    RUOFF MORTGAGE COMPANY, INC. 239 6.80% $2,640
    GVC MORTGAGE, INC. 154 7.08% $5,580
    MORTGAGE MASTERS OF INDIANA, INC. 92 6.72% $5,293
    NEWREZ LLC 82 6.91% $4,191
    UNION HOME MORTGAGE CORP. 56 6.86% $6,408
    Wolfe Financial, Inc 53 7.15% $5,500
    AMERICAN PACIFIC MORTGAGE CORPORATION 43 7.04% $6,964
    CALIBER HOME LOANS, INC. 38 6.46% $5,263
    CROSSCOUNTRY MORTGAGE, LLC 37 6.88% $6,416
    UNITED WHOLESALE MORTGAGE, LLC 37 6.21% $6,947
    PLAZA HOME MORTGAGE, INC. 35 6.51% $4,695
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 33 6.95% $4,321
    University Bank 30 6.76% $5,435
    Century Mortgage Company DBA Century Lending Company 28 6.64% $6,078
    Fifth Third Bank 26 6.33% $4,825
    THRIVE MORTGAGE, LLC 25 6.93% $4,431
    HALLMARK HOME MORTGAGE, LLC 24 6.88% $7,141
    DIRECT MORTGAGE LOANS, LLC 22 6.64% $8,547
    MOVEMENT MORTGAGE, LLC 20 7.02% $5,733
    Flanagan State Bank 19 6.74% $5,634
    AMERICAN FINANCIAL NETWORK, INC. 19 7.09% $6,137
    SUCCESS MORTGAGE PARTNERS, INC. 18 6.74% $7,947
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 18 6.81% $7,265
    German American Bank 18 6.52% $4,317
    Paramount Residential Mortgage Group, Inc. 18 6.69% $6,459
    Bank of England 17 6.20% $6,575
    LEADERONE FINANCIAL CORPORATION 16 7.02% $5,894
    CARDINAL FINANCIAL 16 6.90% $6,105
    FAIR WAY LENDING LLC 15 6.66% $7,034
    NATIONS RELIABLE LENDING, LLC 15 6.85% $6,089
    STOCKTON MORTGAGE CORPORATION 15 6.50% $7,608
    MID AMERICA MORTGAGE, INC. 14 6.89% $3,930
    Northpointe Bank 14 6.28% $5,595
    EVANSVILLE TEACHERS 13 6.48% $3,929
    EVERETT FINANCIAL, INC. 12 6.96% $5,510
    Nations Lending Corporation 11 6.83% $3,592
    DHI MORTGAGE COMPANY, LTD. 11 5.46% $4,712
    GENEVA FINANCIAL, LLC 11 7.01% $7,439
    Magnolia Bank 10 6.19% $7,921
    MJW Financial LLC 10 6.84% $6,270
    VAN DYK MORTGAGE CORPORATION 9 6.68% $3,279
    FIRST COMMUNITY MORTGAGE, INC. 9 6.93% $4,622
    INTERLINC MORTGAGE SERVICES, LLC 9 6.62% $3,990
    Flagstar Bank, FSB 9 6.71% $5,933
    First Merchants Bank 8 6.81% $3,777
    BROKER SOLUTIONS, INC. 8 6.73% $7,077
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 8 7.09% $6,179
    Regions Bank 8 7.31% $4,522
    Sierra Pacific Mortgage Company, Inc. 7 6.71% $6,017
    VANDERBILT MORTGAGE AND FINANCE, INC. 7 5.63% $13,283
    Plains Commerce Bank 7 6.27% $7,897
    First Financial Bank 6 6.46% $5,636
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 7.25% $5,969
    PRIMARY RESIDENTIAL MORTGAGE, INC. 6 7.00% $7,527
    BAYSHORE MORTGAGE FUNDING, LLC 6 7.06% $8,259
    ACADEMY MORTGAGE CORPORATION 6 6.81% $6,378
    First Option Mortgage, LLC 6 6.58% $6,024
    Horizon Bank 6 6.65% $5,056
    FLAT BRANCH MORTGAGE, INC. 5 6.65% $3,889
    The Federal Savings Bank 5 6.78% $5,351
    CHURCHILL MORTGAGE CORPORATION 5 6.55% $8,161
    POLARIS HOME FUNDING CORP. 5 6.98% $6,269
    Ixonia Bank 5 7.12% $5,209
    FBC MORTGAGE, LLC 4 5.87% $7,750
    Bankers' Bank 4 7.09% $4,636
    EUSTIS AND AMERICAN MORTGAGE COMPANY 4 6.94% $6,182
    First Savings Bank 4 6.34% $7,415
    Blue Ridge Bank 4 6.43% $5,606
    GUILD MORTGAGE COMPANY 4 6.97% $6,129
    DAS Acquisition Company, LLC 4 6.91% $6,932
    MICHIGAN MUTUAL, INC. 4 6.63% $8,104
    Stock Yards Bank & Trust Company 4 6.84% $4,664
    Mortgage Research Center, LLC 4 6.81% $2,323
    Elements Financial Federal Credit Union 3 6.54% $5,262
    Gateway First Bank 3 6.58% $5,055
    Prosperity Home Mortgage, LLC 3 6.41% $4,766
    First Financial Bank 3 6.83% $6,420
    FIRST CENTENNIAL MORTGAGE CORPORATION 3 6.58% $5,620
    WesBanco 3 6.58% $5,023
    AMERICAN FINANCIAL RESOURCES, INC. 3 7.17% $4,256
    MILESTONE HOME LENDING, LLC 3 6.71% $6,514
    Community Mortgage Banc Corporation 3 7.00% $3,826
    CMG MORTGAGE, INC. 3 7.13% $5,688
    Citizens Bank 3 6.88% $5,014
    MUTUAL OF OMAHA MORTGAGE, INC. 3 5.88% $6,088
    U.S. Bank 3 7.08% $4,218
    OPEN MORTGAGE, LLC 3 6.75% $8,055
    Equity Prime Mortgage LLC 2 6.63% $5,841
    ENVOY MORTGAGE, LTD 2 7.00% $6,479
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 6.31% $3,696
    GUARANTEED RATE, INC. 2 6.50% $8,138
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 7.13% $6,857
    HOMESIDE FINANCIAL, LLC 2 7.00% $5,961
    Meridian Bank Corporation 2 7.44% $7,356
    NVR Mortgage Finance, Inc. 2 6.06% $10,410
    Old National Bank 2 6.38% $3,539
    ON Q FINANCIAL, INC. 2 7.00% $6,365
    SUN WEST MORTGAGE COMPANY, INC. 2 6.61% $4,589
    THE MORTGAGE WAREHOUSE,LLC 2 6.38% $4,850
    Union Savings Bank 2 6.88% $3,137
    V.I.P. MORTGAGE, INC. 2 6.56% $4,581
    NORWICH COMMERCIAL GROUP, INC. 1 7.25% $3,443
    MYCUMORTGAGE, LLC 1 7.13% $4,154
    RELIANCE FIRST CAPITAL, LLC 1 7.63% $4,734
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $12,373
    MORTGAGE 1 INCORPORATED 1 5.88% $5,982
    Merchants Bank of Indiana 1 7.25% $2,126
    LOANDEPOT.COM, LLC 1 6.25% $13,214
    Jackson County Bank 1 6.25% $5,121
    Waterstone Mortgage Corporation 1 7.25% $6,804
    T2 FINANCIAL LLC 1 6.25% $7,467
    INSPIRE HOME LOANS INC. 1 6.75% $8,683
    The Huntington National Bank 1 7.13% $4,443
    AmRes Corporation 1 7.13% $8,694
    Three Rivers Federal Credit Union 1 7.50% $3,419
    FREEDOM MORTGAGE CORPORATION 1 6.75% $5,710
    TOP FLITE FINANCIAL, INC. 1 7.13% $6,911
    TUCKER MORTGAGE, LLC 1 6.75% $3,886
    EMM LOANS LLC 1 6.63% $5,500
    Willamette Valley Bank 1 7.25% $7,066
    EAGLE HOME MORTGAGE, LLC 1 5.63% $7,408
    CORNERSTONE HOME LENDING, INC. 1 6.75% $5,493
    Centier Bank 1 7.38% $4,822
    Carrington Mortgage Services, LLC 1 6.63% $8,058
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $7,859
    VILLAGE CAPITAL MORTGAGE 1 7.75% $9,320
    AMCAP MORTGAGE, LTD. 1 6.25% $5,674
    PNC Bank 1 7.00% $3,720
    PLANET HOME LENDING, LLC 1 6.38% $6,862
    Peoples National Bank , N.A. 1 5.88% $3,907
    PANORAMA MORTGAGE GROUP, LLC 1 6.63% $5,052

    The top Indiana USDA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 239 USDA loans originated. Their average total fees are $2,640, which is $2,941 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. ($2,640), Nations Lending Corporation ($3,592), EVANSVILLE TEACHERS ($3,929), MID AMERICA MORTGAGE, INC. ($3,930) and NEWREZ LLC ($4,191).

    The lowest rate Indiana USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.46%), Magnolia Bank (6.19%), Bank of England (6.20%), UNITED WHOLESALE MORTGAGE, LLC (6.21%) and Northpointe Bank (6.28%).