Evansville USDA Loan Rates, Closing Costs & Stats

EVANSVILLE, IN-KY

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 6.86% for the week of 2024-05-17, compared to the national average (all USDA variants) of 6.75% for the same period.

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

The average rate for the prior week (2024-05-10) was 6.8% and one month ago for the week of 2024-04-12, the average rate was 6.93%.

The average rate one year ago was 6.61%.

For refis of the same type during the week of 2024-05-17, the average rate was 7.05%.

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
2024-04-01 $231,750 (-19.8%) $286,218 (-17.1%) 0.54 441
Evansville's median listing price for 2024-04-01 was $231,750, a difference of $-57,250 (-19.8%) versus the prior year and $-10,138 versus the prior month.

Evansville's median listing price comes in at 54% of the national average.

Evansville's average listing price for 2024-04-01 was $286,218, a difference of $-58,928 (-17.1%) versus the prior year and $-1,919 versus the prior month.

For the 2024-04-01 period, Evansville had 441 MLS listings, a difference of 25 listings (6%) versus the prior month and 133 listings (43%) 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
2024-04-01 41 days 1,765 sqft
Evansville's median listing age (time on market) for 2024-04-01 was 41 days. This is 10% longer than the same period one year ago.

Evansville's median square footage for active listings during the 2024-04-01 period was 1,765 sqft. One year prior, the average listing was 2,004 sqft.