Evansville USDA Loan Rates, Closing Costs & Stats

EVANSVILLE, IN-KY

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    • 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.

    Evansville's 24 lenders originated 72 USDA loans during 2023. The total origination value was $11,740,000, with an average USDA loan value of $163,056.

    Evansville USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Evansville averaged 6.88% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Evansville's average USDA mortgage closing costs are $4,142.

    The average rate for the prior week (2024-04-12) was 6.53% and one month ago for the week of 2024-03-15, the average rate was 6.71%.

    The average rate one year ago was 6.15%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.77%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Evansville 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 Evansville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MORTGAGE MASTERS OF INDIANA, INC. 38 6.61% $5,026
    Bank of England 4 6.09% $5,866
    PLAZA HOME MORTGAGE, INC. 3 6.21% $6,146
    EVANSVILLE TEACHERS 3 6.04% $3,962
    GVC MORTGAGE, INC. 2 7.06% $3,957
    UNION HOME MORTGAGE CORP. 2 6.44% $6,452
    CALIBER HOME LOANS, INC. 2 6.75% $5,233
    German American Bank 1 7.38% $4,389
    GUARANTEED RATE, INC. 1 7.25% $6,683
    INTERLINC MORTGAGE SERVICES, LLC 1 6.13% $2,307
    LEADERONE FINANCIAL CORPORATION 1 6.38% $5,880
    Mortgage Research Center, LLC 1 6.75% $4,256
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $12,373
    Northpointe Bank 1 5.75% $4,910
    Old National Bank 1 6.75% $2,884
    Paramount Residential Mortgage Group, Inc. 1 7.13% $5,719
    Plains Commerce Bank 1 5.75% $7,229
    Sierra Pacific Mortgage Company, Inc. 1 6.13% $6,708
    UNITED WHOLESALE MORTGAGE, LLC 1 5.75% $10,901
    Waterstone Mortgage Corporation 1 7.25% $6,804
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.75% $7,495
    FBC MORTGAGE, LLC 1 4.99% $11,293
    Fifth Third Bank 1 6.13% $4,189
    GENEVA FINANCIAL, LLC 1 7.25% $5,729

    The top Evansville USDA lender as defined by loan originations is MORTGAGE MASTERS OF INDIANA, INC., with 38 USDA loans originated. Their average total fees are $5,026, which is $840 lower than the next largest lender, Bank of England.

    The lowest fee Evansville USDA lenders (with over 10 loans originated) are MORTGAGE MASTERS OF INDIANA, INC. ($5,026), .

    The lowest rate Evansville USDA lenders (with over 10 loans originated) are MORTGAGE MASTERS OF INDIANA, INC. (6.61%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Evansville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $154,900 (15.7%) $196,715 (12.3%) 0.57 891
    2018-02-01 $154,950 (14.9%) $199,356 (11.2%) 0.56 837
    2018-03-01 $173,000 (19.5%) $211,823 (12.7%) 0.61 760
    2018-04-01 $174,950 (20.7%) $219,527 (14.3%) 0.59 726
    2018-05-01 $174,900 (13.0%) $223,156 (9.3%) 0.58 741
    2018-06-01 $169,888 (12.3%) $222,439 (10.9%) 0.57 833
    2018-07-01 $166,450 (6.9%) $216,962 (6.8%) 0.56 891
    2018-08-01 $164,900 (10.0%) $209,628 (0.8%) 0.55 931
    2018-09-01 $159,900 (6.6%) $209,479 (-1.5%) 0.54 930
    2018-10-01 $164,900 (3.1%) $207,866 (-3.5%) 0.56 954
    2018-11-01 $162,250 (1.1%) $202,545 (-5.9%) 0.55 972
    2018-12-01 $155,000 (4.1%) $194,944 (0.7%) 0.53 927
    2019-01-01 $154,950 (0.0%) $189,780 (-3.5%) 0.54 887
    2019-02-01 $155,900 (0.6%) $191,989 (-3.7%) 0.53 818
    2019-03-01 $168,100 (-2.8%) $203,875 (-3.8%) 0.55 772
    2019-04-01 $177,900 (1.7%) $216,391 (-1.4%) 0.56 749
    2019-05-01 $177,550 (1.5%) $222,191 (-0.4%) 0.55 779
    2019-06-01 $179,900 (5.9%) $224,601 (1.0%) 0.56 779
    2019-07-01 $175,900 (5.7%) $221,536 (2.1%) 0.55 815
    2019-08-01 $165,155 (0.2%) $214,000 (2.1%) 0.52 877
    2019-09-01 $159,386 (-0.3%) $208,354 (-0.5%) 0.51 926
    2019-10-01 $154,900 (-6.1%) $204,995 (-1.4%) 0.50 958
    2019-11-01 $149,900 (-7.6%) $201,280 (-0.6%) 0.49 887
    2019-12-01 $143,675 (-7.3%) $195,797 (0.4%) 0.48 819
    2020-01-01 $138,625 (-10.5%) $192,476 (1.4%) 0.46 730
    2020-02-01 $145,000 (-7.0%) $197,927 (3.1%) 0.47 620
    2020-03-01 $171,100 (1.8%) $218,706 (7.3%) 0.54 547
    2020-04-01 $179,200 (0.7%) $223,888 (3.5%) 0.56 543
    2020-05-01 $180,900 (1.9%) $240,471 (8.2%) 0.55 476
    2020-06-01 $186,100 (3.5%) $247,305 (10.1%) 0.55 457
    2020-07-01 $187,000 (6.3%) $245,134 (10.7%) 0.54 454
    2020-08-01 $185,000 (12.0%) $248,663 (16.2%) 0.53 425
    2020-09-01 $175,950 (10.4%) $237,464 (14.0%) 0.50 433
    2020-10-01 $174,950 (12.9%) $229,454 (11.9%) 0.50 419
    2020-11-01 $164,400 (9.7%) $224,837 (11.7%) 0.48 440
    2020-12-01 $149,900 (4.3%) $209,226 (6.9%) 0.45 414
    2021-01-01 $152,450 (10.0%) $206,719 (7.4%) 0.46 339
    2021-02-01 $158,675 (9.4%) $219,279 (10.8%) 0.46 240
    2021-03-01 $171,250 (0.1%) $224,701 (2.7%) 0.49 203
    2021-04-01 $184,975 (3.2%) $222,584 (-0.6%) 0.50 205
    2021-05-01 $182,000 (0.6%) $224,368 (-6.7%) 0.48 217
    2021-06-01 $204,350 (9.8%) $249,759 (1.0%) 0.54 247
    2021-07-01 $189,450 (1.3%) $242,411 (-1.1%) 0.50 329
    2021-08-01 $174,900 (-5.5%) $232,027 (-6.7%) 0.47 389
    2021-09-01 $176,300 (0.2%) $230,049 (-3.1%) 0.47 400
    2021-10-01 $180,000 (2.9%) $234,278 (2.1%) 0.48 383
    2021-11-01 $185,450 (12.8%) $239,173 (6.4%) 0.50 348
    2021-12-01 $172,450 (15.0%) $239,850 (14.6%) 0.47 322
    2022-01-01 $191,450 (25.6%) $243,935 (18.0%) 0.52 262
    2022-02-01 $203,725 (28.4%) $259,252 (18.2%) 0.53 192
    2022-03-01 $196,425 (14.7%) $249,026 (10.8%) 0.49 189
    2022-04-01 $200,000 (8.1%) $254,730 (14.4%) 0.48 225
    2022-05-01 $227,450 (25.0%) $281,852 (25.6%) 0.52 264
    2022-06-01 $242,500 (18.7%) $287,319 (15.0%) 0.54 317
    2022-07-01 $224,000 (18.2%) $271,078 (11.8%) 0.50 414
    2022-08-01 $218,150 (24.7%) $276,537 (19.2%) 0.50 423
    2022-09-01 $218,250 (23.8%) $278,858 (21.2%) 0.51 434
    2022-10-01 $225,000 (25.0%) $285,737 (22.0%) 0.53 452
    2022-11-01 $233,650 (26.0%) $283,117 (18.4%) 0.56 483
    2022-12-01 $245,000 (42.1%) $287,709 (20.0%) 0.60 457
    2023-01-01 $259,638 (35.6%) $309,340 (26.8%) 0.64 391
    2023-02-01 $270,900 (33.0%) $335,882 (29.6%) 0.65 336
    2023-03-01 $271,900 (38.4%) $352,533 (41.6%) 0.64 293
    2023-04-01 $289,000 (44.5%) $345,146 (35.5%) 0.67 308
    2023-05-01 $274,950 (20.9%) $346,532 (23.0%) 0.62 330
    2023-06-01 $291,450 (20.2%) $359,981 (25.3%) 0.65 345
    2023-07-01 $288,250 (28.7%) $365,393 (34.8%) 0.66 328
    2023-08-01 $278,450 (27.6%) $335,640 (21.4%) 0.64 377
    2023-09-01 $249,900 (14.5%) $305,961 (9.7%) 0.58 424
    2023-10-01 $242,152 (7.6%) $294,155 (3.0%) 0.57 513
    2023-11-01 $238,125 (1.9%) $287,763 (1.6%) 0.57 578
    2023-12-01 $236,500 (-3.5%) $278,611 (-3.2%) 0.58 531
    2024-01-01 $234,900 (-9.5%) $276,354 (-10.7%) 0.57 507
    2024-02-01 $239,450 (-11.6%) $280,079 (-16.6%) 0.58 456
    2024-03-01 $241,888 (-11.0%) $288,137 (-18.3%) 0.57 416
    Evansville's median listing price for 2024-03-01 was $241,888, a difference of $-30,012 (-11.0%) versus the prior year and $2,438 versus the prior month.

    Evansville's median listing price comes in at 57% of the national average.

    Evansville's average listing price for 2024-03-01 was $288,137, a difference of $-64,396 (-18.3%) versus the prior year and $8,058 versus the prior month.

    For the 2024-03-01 period, Evansville had 416 MLS listings, a difference of -40 listings (-9%) versus the prior month and 123 listings (42%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Evansville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 82 days 1,887 sqft
    2018-02-01 82 days 1,855 sqft
    2018-03-01 71 days 1,992 sqft
    2018-04-01 55 days 1,999 sqft
    2018-05-01 46 days 1,986 sqft
    2018-06-01 44 days 1,963 sqft
    2018-07-01 46 days 1,920 sqft
    2018-08-01 51 days 1,905 sqft
    2018-09-01 57 days 1,902 sqft
    2018-10-01 61 days 1,915 sqft
    2018-11-01 61 days 1,851 sqft
    2018-12-01 68 days 1,850 sqft
    2019-01-01 75 days 1,826 sqft
    2019-02-01 73 days 1,821 sqft
    2019-03-01 69 days 1,881 sqft
    2019-04-01 61 days 1,963 sqft
    2019-05-01 47 days 1,939 sqft
    2019-06-01 52 days 1,963 sqft
    2019-07-01 52 days 1,956 sqft
    2019-08-01 52 days 1,897 sqft
    2019-09-01 53 days 1,845 sqft
    2019-10-01 54 days 1,815 sqft
    2019-11-01 64 days 1,807 sqft
    2019-12-01 79 days 1,728 sqft
    2020-01-01 86 days 1,690 sqft
    2020-02-01 86 days 1,733 sqft
    2020-03-01 59 days 1,875 sqft
    2020-04-01 58 days 1,924 sqft
    2020-05-01 58 days 1,944 sqft
    2020-06-01 49 days 1,978 sqft
    2020-07-01 44 days 1,925 sqft
    2020-08-01 45 days 1,929 sqft
    2020-09-01 37 days 1,906 sqft
    2020-10-01 38 days 1,792 sqft
    2020-11-01 43 days 1,785 sqft
    2020-12-01 49 days 1,640 sqft
    2021-01-01 56 days 1,658 sqft
    2021-02-01 60 days 1,628 sqft
    2021-03-01 33 days 1,683 sqft
    2021-04-01 25 days 1,806 sqft
    2021-05-01 23 days 1,787 sqft
    2021-06-01 22 days 1,855 sqft
    2021-07-01 24 days 1,870 sqft
    2021-08-01 26 days 1,796 sqft
    2021-09-01 39 days 1,785 sqft
    2021-10-01 37 days 1,792 sqft
    2021-11-01 37 days 1,773 sqft
    2021-12-01 44 days 1,758 sqft
    2022-01-01 54 days 1,761 sqft
    2022-02-01 53 days 1,768 sqft
    2022-03-01 30 days 1,653 sqft
    2022-04-01 19 days 1,750 sqft
    2022-05-01 20 days 1,836 sqft
    2022-06-01 22 days 1,926 sqft
    2022-07-01 26 days 1,812 sqft
    2022-08-01 35 days 1,859 sqft
    2022-09-01 41 days 1,890 sqft
    2022-10-01 44 days 1,892 sqft
    2022-11-01 45 days 1,884 sqft
    2022-12-01 54 days 1,878 sqft
    2023-01-01 63 days 1,960 sqft
    2023-02-01 61 days 2,012 sqft
    2023-03-01 50 days 2,018 sqft
    2023-04-01 37 days 2,004 sqft
    2023-05-01 31 days 1,995 sqft
    2023-06-01 37 days 2,024 sqft
    2023-07-01 35 days 2,032 sqft
    2023-08-01 31 days 1,973 sqft
    2023-09-01 37 days 1,920 sqft
    2023-10-01 36 days 1,844 sqft
    2023-11-01 40 days 1,747 sqft
    2023-12-01 51 days 1,734 sqft
    2024-01-01 61 days 1,724 sqft
    2024-02-01 57 days 1,741 sqft
    2024-03-01 52 days 1,794 sqft
    Evansville's median listing age (time on market) for 2024-03-01 was 52 days. This is 4% longer than the same period one year ago.

    Evansville's median square footage for active listings during the 2024-03-01 period was 1,794 sqft. One year prior, the average listing was 2,018 sqft.