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 6.34% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

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

    The average rate for the prior week (2025-02-07) was 6.5% and one month ago for the week of 2025-01-10, the average rate was 6.45%.

    The average rate one year ago was 6.34%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.43%.

    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 $149,900 (13.8%) $196,453 (12.4%) 0.57 806
    2018-02-01 $151,400 (15.4%) $200,485 (11.8%) 0.56 752
    2018-03-01 $172,250 (23.1%) $212,525 (14.9%) 0.61 673
    2018-04-01 $173,925 (24.3%) $219,841 (16.2%) 0.59 642
    2018-05-01 $170,475 (13.7%) $223,778 (11.8%) 0.58 658
    2018-06-01 $169,900 (17.3%) $224,475 (13.9%) 0.57 739
    2018-07-01 $164,900 (8.1%) $216,989 (8.5%) 0.56 787
    2018-08-01 $162,800 (11.9%) $209,485 (1.3%) 0.55 819
    2018-09-01 $159,900 (10.3%) $209,499 (-1.7%) 0.54 821
    2018-10-01 $163,200 (5.0%) $207,898 (-4.0%) 0.56 851
    2018-11-01 $160,725 (0.8%) $202,973 (-6.2%) 0.55 867
    2018-12-01 $155,000 (8.5%) $194,372 (0.8%) 0.53 824
    2019-01-01 $152,450 (1.7%) $188,617 (-4.0%) 0.54 795
    2019-02-01 $157,475 (4.0%) $192,805 (-3.8%) 0.53 734
    2019-03-01 $171,329 (-0.5%) $206,682 (-2.8%) 0.55 688
    2019-04-01 $179,900 (3.4%) $219,932 (0.0%) 0.56 661
    2019-05-01 $179,300 (5.2%) $224,964 (0.5%) 0.55 687
    2019-06-01 $179,900 (5.9%) $226,497 (0.9%) 0.56 698
    2019-07-01 $171,875 (4.2%) $222,687 (2.6%) 0.55 727
    2019-08-01 $160,873 (-1.2%) $214,183 (2.2%) 0.52 780
    2019-09-01 $154,757 (-3.2%) $208,062 (-0.7%) 0.51 828
    2019-10-01 $150,680 (-7.7%) $204,585 (-1.6%) 0.50 857
    2019-11-01 $146,450 (-8.9%) $201,109 (-0.9%) 0.49 789
    2019-12-01 $139,825 (-9.8%) $195,692 (0.7%) 0.48 721
    2020-01-01 $133,750 (-12.3%) $191,931 (1.8%) 0.46 645
    2020-02-01 $139,900 (-11.2%) $198,231 (2.8%) 0.47 535
    2020-03-01 $172,450 (0.7%) $222,365 (7.6%) 0.54 465
    2020-04-01 $178,400 (-0.8%) $226,171 (2.8%) 0.56 467
    2020-05-01 $179,900 (0.3%) $240,661 (7.0%) 0.55 431
    2020-06-01 $189,675 (5.4%) $251,955 (11.2%) 0.55 411
    2020-07-01 $184,675 (7.5%) $245,863 (10.4%) 0.54 406
    2020-08-01 $189,900 (18.0%) $252,300 (17.8%) 0.53 383
    2020-09-01 $178,450 (15.3%) $239,698 (15.2%) 0.50 386
    2020-10-01 $176,950 (17.4%) $230,908 (12.9%) 0.50 373
    2020-11-01 $164,900 (12.6%) $226,944 (12.9%) 0.48 395
    2020-12-01 $149,948 (7.2%) $209,718 (7.2%) 0.45 378
    2021-01-01 $159,450 (19.2%) $207,914 (8.3%) 0.46 306
    2021-02-01 $163,750 (17.1%) $221,136 (11.6%) 0.46 217
    2021-03-01 $164,450 (-4.6%) $223,171 (0.4%) 0.49 189
    2021-04-01 $185,000 (3.7%) $222,851 (-1.5%) 0.50 187
    2021-05-01 $184,900 (2.8%) $226,840 (-5.7%) 0.48 192
    2021-06-01 $204,750 (8.0%) $253,239 (0.5%) 0.54 229
    2021-07-01 $197,350 (6.9%) $248,295 (1.0%) 0.50 297
    2021-08-01 $176,700 (-7.0%) $236,496 (-6.3%) 0.47 348
    2021-09-01 $181,300 (1.6%) $234,531 (-2.2%) 0.47 355
    2021-10-01 $189,900 (7.3%) $240,234 (4.0%) 0.48 338
    2021-11-01 $192,444 (16.7%) $244,465 (7.7%) 0.50 317
    2021-12-01 $177,425 (18.3%) $243,877 (16.3%) 0.47 286
    2022-01-01 $209,450 (31.4%) $250,978 (20.7%) 0.52 232
    2022-02-01 $219,450 (34.0%) $261,165 (18.1%) 0.53 168
    2022-03-01 $199,450 (21.3%) $248,741 (11.5%) 0.49 166
    2022-04-01 $218,800 (18.3%) $261,577 (17.4%) 0.48 200
    2022-05-01 $230,000 (24.4%) $282,961 (24.7%) 0.52 241
    2022-06-01 $249,900 (22.1%) $289,718 (14.4%) 0.54 294
    2022-07-01 $230,000 (16.5%) $276,044 (11.2%) 0.50 375
    2022-08-01 $229,675 (30.0%) $282,886 (19.6%) 0.50 384
    2022-09-01 $220,600 (21.7%) $285,077 (21.6%) 0.51 395
    2022-10-01 $234,700 (23.6%) $292,326 (21.7%) 0.53 419
    2022-11-01 $241,475 (25.5%) $287,893 (17.8%) 0.56 450
    2022-12-01 $249,900 (40.9%) $291,828 (19.7%) 0.60 424
    2023-01-01 $260,544 (24.4%) $311,291 (24.0%) 0.64 364
    2023-02-01 $272,900 (24.4%) $340,693 (30.5%) 0.65 310
    2023-03-01 $273,425 (37.1%) $356,427 (43.3%) 0.64 274
    2023-04-01 $299,900 (37.1%) $353,623 (35.2%) 0.67 283
    2023-05-01 $284,700 (23.8%) $356,155 (25.9%) 0.62 298
    2023-06-01 $299,309 (19.8%) $366,350 (26.5%) 0.65 310
    2023-07-01 $299,734 (30.3%) $375,519 (36.0%) 0.66 301
    2023-08-01 $281,900 (22.7%) $339,407 (20.0%) 0.64 342
    2023-09-01 $250,000 (13.3%) $310,149 (8.8%) 0.58 392
    2023-10-01 $249,250 (6.2%) $297,642 (1.8%) 0.57 475
    2023-11-01 $239,900 (-0.7%) $292,125 (1.5%) 0.57 530
    2023-12-01 $239,900 (-4.0%) $282,605 (-3.2%) 0.58 484
    2024-01-01 $235,000 (-9.8%) $279,668 (-10.2%) 0.57 465
    2024-02-01 $241,450 (-11.5%) $283,675 (-16.7%) 0.58 421
    2024-03-01 $245,000 (-10.4%) $292,753 (-17.9%) 0.57 383
    2024-04-01 $237,400 (-20.8%) $290,067 (-18.0%) 0.54 411
    2024-05-01 $251,250 (-11.8%) $308,458 (-13.4%) 0.57 435
    2024-06-01 $249,900 (-16.5%) $312,635 (-14.7%) 0.56 487
    2024-07-01 $249,900 (-16.6%) $311,057 (-17.2%) 0.57 492
    2024-08-01 $240,000 (-14.9%) $301,780 (-11.1%) 0.56 531
    2024-09-01 $243,700 (-2.5%) $289,298 (-6.7%) 0.56 580
    2024-10-01 $245,750 (-1.4%) $295,382 (-0.8%) 0.58 625
    2024-11-01 $249,900 (4.2%) $300,818 (3.0%) 0.60 660
    2024-12-01 $264,900 (10.4%) $305,342 (8.1%) 0.66 577
    2025-01-01 $269,000 (14.5%) $314,394 (12.4%) 0.00 495
    Evansville's median listing price for 2025-01-01 was $269,000, a difference of $34,000 (14.5%) versus the prior year and $4,100 versus the prior month.

    Evansville's median listing price comes in at 0% of the national average.

    Evansville's average listing price for 2025-01-01 was $314,394, a difference of $34,726 (12.4%) versus the prior year and $9,052 versus the prior month.

    For the 2025-01-01 period, Evansville had 495 MLS listings, a difference of -82 listings (-14%) versus the prior month and 30 listings (6%) 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 1,885 sqft
    2018-02-01 82 days 1,846 sqft
    2018-03-01 71 days 1,965 sqft
    2018-04-01 55 days 1,997 sqft
    2018-05-01 46 days 1,973 sqft
    2018-06-01 44 days 1,958 sqft
    2018-07-01 46 days 1,918 sqft
    2018-08-01 51 days 1,903 sqft
    2018-09-01 57 days 1,904 sqft
    2018-10-01 61 days 1,939 sqft
    2018-11-01 61 days 1,873 sqft
    2018-12-01 68 days 1,861 sqft
    2019-01-01 75 days 1,842 sqft
    2019-02-01 73 days 1,845 sqft
    2019-03-01 69 days 1,913 sqft
    2019-04-01 61 days 2,012 sqft
    2019-05-01 47 days 1,984 sqft
    2019-06-01 52 days 1,971 sqft
    2019-07-01 52 days 1,947 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 1,819 sqft
    2019-12-01 79 days 1,744 sqft
    2020-01-01 86 days 1,704 sqft
    2020-02-01 86 days 1,734 sqft
    2020-03-01 59 days 1,884 sqft
    2020-04-01 58 days 1,904 sqft
    2020-05-01 58 days 1,916 sqft
    2020-06-01 49 days 1,990 sqft
    2020-07-01 44 days 1,913 sqft
    2020-08-01 45 days 1,920 sqft
    2020-09-01 37 days 1,888 sqft
    2020-10-01 38 days 1,790 sqft
    2020-11-01 43 days 1,782 sqft
    2020-12-01 49 days 1,645 sqft
    2021-01-01 56 days 1,690 sqft
    2021-02-01 60 days 1,653 sqft
    2021-03-01 33 days 1,690 sqft
    2021-04-01 25 days 1,813 sqft
    2021-05-01 23 days 1,787 sqft
    2021-06-01 22 days 1,862 sqft
    2021-07-01 24 days 1,886 sqft
    2021-08-01 26 days 1,800 sqft
    2021-09-01 39 days 1,799 sqft
    2021-10-01 37 days 1,822 sqft
    2021-11-01 37 days 1,803 sqft
    2021-12-01 44 days 1,773 sqft
    2022-01-01 54 days 1,827 sqft
    2022-02-01 53 days 1,802 sqft
    2022-03-01 30 days 1,665 sqft
    2022-04-01 19 days 1,809 sqft
    2022-05-01 20 days 1,851 sqft
    2022-06-01 22 days 1,959 sqft
    2022-07-01 26 days 1,824 sqft
    2022-08-01 35 days 1,881 sqft
    2022-09-01 41 days 1,909 sqft
    2022-10-01 44 days 1,920 sqft
    2022-11-01 45 days 1,902 sqft
    2022-12-01 54 days 1,895 sqft
    2023-01-01 63 days 1,972 sqft
    2023-02-01 61 days 2,036 sqft
    2023-03-01 50 days 2,037 sqft
    2023-04-01 37 days 2,008 sqft
    2023-05-01 31 days 2,014 sqft
    2023-06-01 37 days 2,033 sqft
    2023-07-01 35 days 2,031 sqft
    2023-08-01 31 days 1,981 sqft
    2023-09-01 37 days 1,940 sqft
    2023-10-01 36 days 1,856 sqft
    2023-11-01 40 days 1,754 sqft
    2023-12-01 51 days 1,728 sqft
    2024-01-01 61 days 1,722 sqft
    2024-02-01 57 days 1,746 sqft
    2024-03-01 52 days 1,800 sqft
    2024-04-01 41 days 1,769 sqft
    2024-05-01 39 days 1,876 sqft
    2024-06-01 40 days 1,855 sqft
    2024-07-01 43 days 1,838 sqft
    2024-08-01 42 days 1,813 sqft
    2024-09-01 40 days 1,799 sqft
    2024-10-01 44 days 1,803 sqft
    2024-11-01 49 days 1,824 sqft
    2024-12-01 57 days 1,848 sqft
    2025-01-01 0 days 1,868 sqft
    Evansville's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Evansville's median square footage for active listings during the 2025-01-01 period was 1,868 sqft. One year prior, the average listing was 1,722 sqft.