Evansville Mortgage Rates, Fees & Info

Evansville, IN

LEI: 549300I5PXYKWZSGG235

Tax ID: 35-1077721

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 Refi loans. Evansville has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Evansville, Indianapolis, Ocala, Vincennes, and Jasper among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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 about average 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.64% 5/4/24
    30 Year Conventional Refi 6.00% 5/4/24
    30 Year Cash-out Refi 6.57% 5/4/24
    15 Year Conventional Purchase 6.71% 5/4/24
    15 Year Conventional Refi 5.87% 5/4/24
    15 Year Cash-out Refi 5.87% 5/4/24
    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

    76

    Origination Dollar Volume (All Markets)

    $11,090,000

    Awards

    EVANSVILLE 30 Year Conventional Loans gold EVANSVILLE 30 Year Conventional Loans silver
    Show all (2) awards

    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) 69 $10,185,000 $147,609 $2,409 4.52%
    Outside of Metro Areas 3 $365,000 $121,667 $1,754 3.71%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $295,000 $295,000 $1,658 4.38%
    OCALA, FL (FHA|USDA|VA) 1 $115,000 $115,000 $7,422 3.88%
    Vincennes, IN (FHA|USDA|VA) 1 $75,000 $75,000 $1,626 3.88%
    Jasper, IN (FHA|USDA|VA) 1 $55,000 $55,000 $4,428 5.25%
    Evansville's top markets include Evansville, Indianapolis, Ocala, Vincennes, and Jasper among others.

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

    Heritage Federal Credit Union
    Similarity Rank: 96
    EVANSVILLE
    Similarity Rank: 120
    First Federal Savings Bank
    Similarity Rank: 160
    FAIR WAY LENDING LLC
    Similarity Rank: 800
    Independence Bank of Kentucky
    Similarity Rank: 1170
    MORTGAGE MASTERS OF INDIANA, INC.
    Similarity Rank: 1216
    German American Bank
    Similarity Rank: 1290
    GVC MORTGAGE, INC.
    Similarity Rank: 1827
    Old National Bank
    Similarity Rank: 2772
    EVANSVILLE TEACHERS
    Similarity Rank: 2886

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 73 $10,795,000 $147,877 $2,424 4.45%
    USDA 2 $140,000 $70,000 $4,166 5.38%
    VA 1 $155,000 $155,000 $1,359 5.00%

    For 2018, Evansville's most frequently originated type of loan was Conventional, with 73 originations. Their 2nd most popular type was USDA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 42 $5,840,000 $139,048 $2,936 4.47%
    Refi 20 $3,880,000 $194,000 $1,811 4.35%
    Cash Out Refi 14 $1,370,000 $97,857 $1,851 4.71%

    For 2018, Evansville's most frequently cited loan purpose was Home Purchase, with 42 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 47 $8,055,000 $171,383 $2,890 4.50%
    15 Year 19 $2,145,000 $112,895 $1,625 4.59%
    10 Year 4 $250,000 $62,500 $2,157 3.94%
    20 Year 3 $455,000 $151,667 $2,219 4.38%
    Other 3 $185,000 $61,667 $1,011 4.25%

    For 2018, Evansville's most frequently cited loan duration was 30 Year, with 47 originations. The 2nd most popular length was 15 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 41 $6,505,000 $158,659
    $1k-2k 2 $280,000 $140,000

    Evansville's average total fees were $2,890, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 41 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 44 $6,440,000 $146,364
    3-4% 19 $3,375,000 $177,632
    5-6% 13 $1,275,000 $98,077

    During 2018, Evansville's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was 4-5%, with 44 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 37 $5,555,000 $150,135 $2,477 4.47%
    $100,000 or less 29 $1,885,000 $65,000 $2,382 4.52%
    $200k-400k 9 $2,365,000 $262,778 $2,675 4.49%
    $1MM+ 1 $1,285,000 $1,285,000 $2,025 3.75%

    2018 saw Evansville place emphasis on $100k-200k loans with 37 originations, totaling $5,555,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 23 $2,765,000 $120,217 $1,906 4.44%
    $50k or less 19 $1,555,000 $81,842 $2,783 4.59%
    $75k-100k 16 $2,220,000 $138,750 $2,758 4.34%
    $100k-150k 12 $2,130,000 $177,500 $2,749 4.54%
    $150k-250k 3 $775,000 $258,333 $1,800 4.63%
    $250k+ 2 $1,580,000 $790,000 $2,158 4.38%

    Evansville lent most frequently to those with incomes in the $50k-75k range, with 23 originations. The second most popular income band? $50k or less, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 24 $4,090,000 $170,417 $2,363 4.53%
    30-36% 14 $2,130,000 $152,143 $2,989 4.48%
    <20% 13 $1,735,000 $133,462 $2,059 4.25%
    37% 7 $915,000 $130,714 $1,869 4.64%
    50-60% 3 $325,000 $108,333 $1,512 4.38%
    38% 3 $305,000 $101,667 $2,336 4.50%
    42% 3 $455,000 $151,667 $3,120 4.79%
    40% 2 $330,000 $165,000 $3,600 4.63%
    41% 1 $195,000 $195,000 $1,632 4.38%
    36% 1 $115,000 $115,000 $7,422 3.88%
    46% 1 $155,000 $155,000 $1,359 5.00%
    47% 1 $95,000 $95,000 $1,664 4.38%
    48% 1 $35,000 $35,000 $757 4.25%
    39% 1 $145,000 $145,000 $4,795 4.50%

    Evansville lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 73 $10,795,000 $147,877 $2,480 4.46%
    Black 2 $230,000 $115,000 $1,597 5.19%
    Not applicable 1 $65,000 $65,000 $0 4.75%

    Approval Rates

    Total approvals of all applications
    85.44%

    Evansville has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.21%

    Evansville has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 76 $11,090,000 $145,921

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 76 $11,090,000 $145,921

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $490,000 $81,667 $2,772 3.83%
    40-60% 9 $755,000 $83,889 $1,245 4.49%
    60-80% 29 $4,355,000 $150,172 $2,338 4.59%
    80-100% 30 $5,430,000 $181,000 $2,773 4.48%
    Under 20% 2 $60,000 $30,000 $3,805 4.75%