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 Cash Out Refi and Refi loans. Evansville has a high proportion of conventional loans. Their top markets by origination volume include: Evansville, Jasper, Indianapolis, and Louisville among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Evansville has an above 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.

    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% 11/21/24
    30 Year Conventional Refi 6.00% 11/21/24
    30 Year Cash-out Refi 6.57% 11/21/24
    15 Year Conventional Purchase 6.71% 11/21/24
    15 Year Conventional Refi 5.87% 11/21/24
    15 Year Cash-out Refi 5.87% 11/21/24
    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

    173

    Origination Dollar Volume (All Markets)

    $28,245,000

    Awards

    EVANSVILLE 30 Year Conventional Loans silver EVANSVILLE 30 Year Conventional Loans gold EVANSVILLE 30 Year Conventional Loans silver EVANSVILLE 30 Year Conventional Loans bronze
    Show all (4) 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) 164 $26,780,000 $163,293 $1,927 2.85%
    Outside of Metro Areas 5 $495,000 $99,000 $1,187 2.75%
    Jasper, IN (FHA|USDA|VA) 2 $390,000 $195,000 $2,168 2.75%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $295,000 $295,000 $2,009 2.88%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $285,000 $285,000 $2,326 2.63%
    Evansville's top markets include Evansville, Jasper, Indianapolis, and Louisville among others.

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

    EVANSVILLE
    Similarity Rank: 60
    BOONVILLE FEDERAL SAVINGS BANK
    Similarity Rank: 126
    The Elberfeld State Bank
    Similarity Rank: 130
    United Fidelity Bank, fsb
    Similarity Rank: 165
    Heritage Federal Credit Union
    Similarity Rank: 180
    INDIANA MEMBERS CREDIT UNION
    Similarity Rank: 360
    Independence Bank of Kentucky
    Similarity Rank: 1156
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1620
    German American Bank
    Similarity Rank: 2310
    MORTGAGE MASTERS OF INDIANA, INC.
    Similarity Rank: 2400

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 173 $28,245,000 $163,266 $1,915 2.85%

    For 2020, Evansville's most frequently originated type of loan was Conventional, with 173 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 77 $12,205,000 $158,506 $1,904 2.83%
    Refi 66 $11,350,000 $171,970 $1,873 2.75%
    Home Purchase 30 $4,690,000 $156,333 $2,034 3.09%

    For 2020, Evansville's most frequently cited loan purpose was Cash Out Refi, with 77 originations. The 2nd most popular reason was Refi, with 66 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 70 $13,970,000 $199,571 $2,114 3.09%
    15 Year 62 $8,640,000 $139,355 $1,778 2.65%
    20 Year 22 $3,830,000 $174,091 $1,979 2.68%
    10 Year 13 $1,095,000 $84,231 $1,471 2.66%
    Other 5 $655,000 $131,000 $1,666 2.68%
    3 Year 1 $55,000 $55,000 $0 4.13%

    For 2020, Evansville's most frequently cited loan duration was 30 Year, with 70 originations. The 2nd most popular length was 15 Year, with 62 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 162 $26,380,000 $162,840
    $1k-2k 5 $955,000 $191,000
    $2k-3k 4 $680,000 $170,000
    $3k-4k 1 $175,000 $175,000

    Evansville's average total fees were $2,114, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 162 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 78 $14,290,000 $183,205
    <2.5% 51 $7,505,000 $147,157
    3-4% 36 $5,080,000 $141,111
    4-5% 8 $1,370,000 $171,250

    During 2020, Evansville's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 2.5-3%, with 78 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 91 $13,495,000 $148,297 $1,996 2.86%
    $100,000 or less 40 $2,720,000 $68,000 $1,490 2.90%
    $200k-400k 40 $10,390,000 $259,750 $2,104 2.75%
    $1MM+ 1 $1,235,000 $1,235,000 $2,867 2.75%
    $400k-600k 1 $405,000 $405,000 $2,645 3.50%

    2020 saw Evansville place emphasis on $100k-200k loans with 91 originations, totaling $13,495,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 54 $10,940,000 $202,593 $2,133 2.78%
    $50k-75k 40 $5,440,000 $136,000 $1,859 2.84%
    $75k-100k 34 $5,550,000 $163,235 $1,880 2.83%
    $50k or less 30 $2,600,000 $86,667 $1,623 3.00%
    $150k-250k 13 $2,135,000 $164,231 $1,920 2.71%
    $250k+ 2 $1,580,000 $790,000 $2,185 3.44%

    Evansville lent most frequently to those with incomes in the $100k-150k range, with 54 originations. The second most popular income band? $50k-75k, with 40 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 64 $10,720,000 $167,500 $1,970 2.84%
    <20% 48 $7,680,000 $160,000 $1,822 2.79%
    30-36% 36 $5,350,000 $148,611 $1,901 2.87%
    38% 5 $855,000 $171,000 $2,015 3.15%
    39% 4 $800,000 $200,000 $2,053 2.69%
    41% 4 $480,000 $120,000 $1,409 3.00%
    40% 3 $735,000 $245,000 $2,639 3.25%
    37% 2 $340,000 $170,000 $2,174 2.44%
    42% 2 $450,000 $225,000 $2,068 2.44%
    47% 1 $345,000 $345,000 $1,905 2.63%
    50-60% 1 $55,000 $55,000 $1,964 2.88%
    >60% 1 $255,000 $255,000 $1,368 2.75%
    44% 1 $95,000 $95,000 $1,832 2.75%
    36% 1 $85,000 $85,000 $1,951 3.75%

    Evansville lent most frequently to those with DTI ratios of 20-30%, with 64 originations. The next most common DTI ratio? <20%, with 48 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 166 $27,390,000 $165,000 $1,912 2.85%
    Not provided 3 $455,000 $151,667 $2,022 2.71%
    Black 4 $400,000 $100,000 $1,961 2.94%

    Approval Rates

    Total approvals of all applications
    90.32%

    Evansville has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.71%

    Evansville has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 173 $28,245,000 $163,266

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 173 $28,245,000 $163,266

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $1,000,000 $100,000 $1,453 2.69%
    40-60% 34 $4,150,000 $122,059 $1,840 2.61%
    60-80% 93 $17,225,000 $185,215 $1,983 2.87%
    80-100% 34 $5,820,000 $171,176 $2,007 3.07%
    Under 20% 2 $50,000 $25,000 $819 2.63%