Evansville Mortgage Rates, Fees & Info

Evansville, IN

LEI: 549300I5PXYKWZSGG235

Tax ID: 35-1077721

5 stars - Updated: 12/16/24 - out of 5 stars, based on 4 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Evansville is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Evansville has a high proportion of conventional loans. Their top (well, only) market is Evansville.

    Evansville has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Evansville is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.64% 12/16/24
    30 Year Conventional Refi 6.00% 12/16/24
    30 Year Cash-out Refi 6.57% 12/16/24
    15 Year Conventional Purchase 6.71% 12/16/24
    15 Year Conventional Refi 5.87% 12/16/24
    15 Year Cash-out Refi 5.87% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Evansville Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Evansville. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    18

    Origination Dollar Volume (All Markets)

    $3,020,000

    Awards

    EVANSVILLE 30 Year Conventional Loans gold
    Show all (1) awards

    Relative Rate

    Evansville's average 30 year fixed mortgage rate was 7.08%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.6%.

    Relative Fees (Closing Costs)

    Evansville's average total fees/closing costs for a 30 year fixed rate mortgage were $2,010.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    EVANSVILLE, IN-KY (FHA|USDA|VA) 17 $2,945,000 $173,235 $1,822 6.81%
    Outside of Metro Areas 1 $75,000 $75,000 $1,666 8.13%
    Evansville's top markets include and Evansville among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against EVANSVILLE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    CRANE
    Similarity Rank: 63
    First Federal Savings Bank
    Similarity Rank: 90
    BOONVILLE FEDERAL SAVINGS BANK
    Similarity Rank: 132
    Heritage Federal Credit Union
    Similarity Rank: 154
    INDIANA MEMBERS CREDIT UNION
    Similarity Rank: 182
    German American Bank
    Similarity Rank: 418
    Independence Bank of Kentucky
    Similarity Rank: 480
    MORTGAGE MASTERS OF INDIANA, INC.
    Similarity Rank: 792
    FBC MORTGAGE, LLC
    Similarity Rank: 2496
    Old National Bank
    Similarity Rank: 4626

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 18 $3,020,000 $167,778 $1,814 6.88%

    For 2023, Evansville's most frequently originated type of loan was Conventional, with 18 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 10 $2,010,000 $201,000 $2,321 7.04%
    Cash Out Refi 7 $985,000 $140,714 $1,288 6.71%
    Refi 1 $25,000 $25,000 $421 6.50%

    For 2023, Evansville's most frequently cited loan purpose was Home Purchase, with 10 originations. The 2nd most popular reason was Cash Out Refi, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 11 $2,435,000 $221,364 $2,010 7.08%
    15 Year 5 $405,000 $81,000 $1,619 6.78%
    20 Year 1 $145,000 $145,000 $2,020 6.00%
    5 Year 1 $35,000 $35,000 $423 6.13%

    For 2023, Evansville's most frequently cited loan duration was 30 Year, with 11 originations. The 2nd most popular length was 15 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 17 $2,775,000 $163,235
    $3k-4k 1 $245,000 $245,000

    Evansville's average total fees were $2,010, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 17 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 11 $2,135,000 $194,091
    7-8% 5 $665,000 $133,000
    5-6% 1 $145,000 $145,000
    Over 8% 1 $75,000 $75,000

    During 2023, Evansville's average interest rate for loans was 7.08%, while their most frequently originated rate bucket for loans was 6-7%, with 11 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 7 $315,000 $45,000 $946 7.05%
    $100k-200k 6 $920,000 $153,333 $2,010 6.75%
    $200k-400k 3 $785,000 $261,667 $3,039 6.88%
    $400k-600k 2 $1,000,000 $500,000 $2,423 6.69%

    2023 saw Evansville place emphasis on $100,000 or less loans with 7 originations, totaling $315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 5 $285,000 $57,000 $1,436 7.33%
    $50k-75k 4 $560,000 $140,000 $1,666 6.66%
    $75k-100k 3 $425,000 $141,667 $2,399 6.08%
    $100k-150k 2 $650,000 $325,000 $2,241 6.88%
    $250k+ 2 $820,000 $410,000 $2,298 7.25%
    $150k-250k 1 $235,000 $235,000 $2,106 6.88%

    Evansville lent most frequently to those with incomes in the $50k or less range, with 5 originations. The second most popular income band? $50k-75k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 7 $875,000 $125,000 $1,521 6.89%
    <20% 4 $420,000 $105,000 $1,455 7.03%
    36% 1 $45,000 $45,000 $426 7.25%
    37% 1 $145,000 $145,000 $2,063 6.38%
    39% 1 $105,000 $105,000 $1,950 7.63%
    40% 1 $485,000 $485,000 $2,507 6.50%
    45% 1 $515,000 $515,000 $2,340 6.88%
    46% 1 $245,000 $245,000 $4,756 6.13%
    30-36% 1 $185,000 $185,000 $2,140 6.75%

    Evansville lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? <20%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 18 $3,020,000 $167,778 $1,814 6.88%

    Approval Rates

    Total approvals of all applications
    88.46%

    Evansville has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.89%

    Evansville has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 18 $3,020,000 $167,778

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    18 $3,020,000 $167,778

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $80,000 $40,000 $484 6.75%
    40-60% 4 $810,000 $202,500 $1,876 6.97%
    60-80% 7 $1,225,000 $175,000 $2,419 6.98%
    80-100% 3 $825,000 $275,000 $2,132 6.75%
    Under 20% 2 $80,000 $40,000 $424 6.69%