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 20 lenders originated 80 USDA loans during 2024. The total origination value was $13,870,000, with an average USDA loan value of $173,375.

Evansville USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Evansville averaged -0.01% for the week of 2025-06-20, compared to the national average (all USDA variants) of 0% for the same period.

Evansville's average USDA mortgage closing costs are $4,266.

The average rate for the prior week (2025-06-13) was 6.49% and one month ago for the week of 2025-05-16, the average rate was 6.65%.

The average rate one year ago was 6.67%.

For refis of the same type during the week of 2025-06-20, the average rate was 0.2%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
MORTGAGE MASTERS OF INDIANA, INC. 40 6.62% $5,011
GVC MORTGAGE, INC. 6 7.02% $7,418
EVANSVILLE TEACHERS 4 6.06% $4,065
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.58% $1,630
Bank of England 3 6.54% $7,956
UNION HOME MORTGAGE CORP. 2 5.88% $10,092
CALCON MUTUAL MORTGAGE LLC 2 6.56% $5,811
FBC MORTGAGE, LLC 2 3.99% $6,337
German American Bank 2 6.19% $5,035
Paramount Residential Mortgage Group, Inc. 2 6.38% $3,704
TOP FLITE FINANCIAL, INC. 2 7.06% $5,625
American Mortgage & Equity Consultants, Inc. 2 6.81% $5,589
FAIR WAY LENDING LLC 1 6.49% $5,273
Equity Prime Mortgage LLC 1 6.13% $7,070
THE MORTGAGE WAREHOUSE,LLC 1 6.63% $6,427
ROYAL UNITED MORTGAGE LLC 1 7.63% $7,710
Fifth Third Bank 1 6.25% $5,855
FIRST COMMUNITY MORTGAGE, INC. 1 6.99% $8,705
RUOFF MORTGAGE COMPANY, INC. 1 6.75% $3,101
GERSHMAN INVESTMENT CORP. 1 7.00% $4,021

The top Evansville USDA lender as defined by loan originations is MORTGAGE MASTERS OF INDIANA, INC., with 40 USDA loans originated. Their average total fees are $5,011, which is $2,407 lower than the next largest lender, GVC MORTGAGE, INC..

The lowest fee Evansville USDA lenders (with over 10 loans originated) are MORTGAGE MASTERS OF INDIANA, INC. ($5,011), .

The lowest rate Evansville USDA lenders (with over 10 loans originated) are MORTGAGE MASTERS OF INDIANA, INC. (6.62%), .