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 6.85% 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%).