Indiana USDA Loan Rates, Closing Costs & Stats

Indiana

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 6.65% for the week of 2024-05-10, compared to the national average (all USDA variants) of 6.785% for the same period.

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

The average rate for the prior week (2024-05-03) was 6.84% and one month ago for the week of 2024-04-05, the average rate was 6.5%.

The average rate one year ago was 6.68%.

For refis of the same type during the week of 2024-05-10, the average rate was 7.04%.

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%).