Omaha USDA Loan Rates, Closing Costs & Stats

OMAHA-COUNCIL BLUFFS, NE-IA

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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.

    Omaha's 26 lenders originated 75 USDA loans during 2022. The total origination value was $12,935,000, with an average USDA loan value of $172,467.

    Omaha USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Omaha averaged -0.4% for the week of 2023-11-24, compared to the national average (all USDA variants) of 0% for the same period.

    Omaha's average USDA mortgage closing costs are $4,068.

    The average rate for the prior week (2023-11-17) was 6.69% and one month ago for the week of 2023-10-20, the average rate was 7.21%.

    The average rate one year ago was 6.05%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.38%.

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

    Omaha 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 Omaha level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    West Gate Bank 9 4.25% $3,782
    Flanagan State Bank 9 5.14% $7,731
    IOWA BANKERS MORTGAGE CORPORATION 8 4.25% $3,550
    CHARTER WEST BANK 8 4.75% $4,627
    Prosperity Home Mortgage, LLC 5 4.00% $5,524
    First National Bank of Omaha 5 5.60% $5,328
    CASTLE & COOKE MORTGAGE, LLC 3 5.42% $6,512
    GERSHMAN INVESTMENT CORP. 2 3.88% $4,825
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 5.38% $5,611
    CMG MORTGAGE, INC. 2 5.25% $5,340
    Flagstar Bank, FSB 2 4.68% $4,929
    American National Bank 2 5.50% $4,973
    Chickasaw Community Bank 1 3.13% $3,186
    Bankers' Bank 1 3.00% $5,486
    Carrington Mortgage Services, LLC 1 3.75% $3,203
    Lincoln Savings Bank 1 4.50% $3,785
    MUTUAL OF OMAHA MORTGAGE, INC. 1 4.63% $5,109
    NEWREZ LLC 1 5.25% $4,947
    Pinnacle Bank 1 5.00% $4,957
    Plains Commerce Bank 1 5.00% $4,024
    CARDINAL FINANCIAL 1 5.75% $6,598
    Regent Financial Group, Inc. 1 5.25% $4,947
    RESIDENTIAL MORTGAGE NETWORK, INC. 1 6.00% $2,713
    United Bank of Iowa 1 5.75% $4,893
    CHURCHILL MORTGAGE CORPORATION 1 5.50% $6,968
    Wells Fargo Bank 1 5.75% $7,987

    The top Omaha USDA lender as defined by loan originations is West Gate Bank, with 9 USDA loans originated. Their average total fees are $3,782, which is $3,948 lower than the next largest lender, Flanagan State Bank.

    The lowest fee Omaha USDA lenders (with over 10 loans originated) are .

    The lowest rate Omaha USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Omaha (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 $268,200 (13.3%) $321,314 (12.5%) 0.99 2,013
    2018-02-01 $282,200 (10.9%) $333,418 (12.0%) 1.03 1,843
    2018-03-01 $288,000 (6.8%) $341,519 (11.5%) 1.01 1,893
    2018-04-01 $296,561 (7.9%) $360,435 (15.1%) 1.01 1,971
    2018-05-01 $293,025 (6.6%) $341,569 (6.3%) 0.98 2,099
    2018-06-01 $290,000 (6.5%) $345,786 (8.2%) 0.97 2,348
    2018-07-01 $287,800 (6.6%) $342,684 (7.5%) 0.96 2,509
    2018-08-01 $288,200 (9.4%) $338,488 (8.2%) 0.97 2,619
    2018-09-01 $279,900 (6.8%) $330,803 (6.0%) 0.94 2,781
    2018-10-01 $269,950 (3.9%) $323,441 (3.3%) 0.91 2,850
    2018-11-01 $269,150 (0.8%) $321,668 (0.5%) 0.91 2,778
    2018-12-01 $279,900 (5.6%) $328,080 (2.9%) 0.97 2,416
    2019-01-01 $285,000 (6.3%) $327,819 (2.0%) 0.98 2,143
    2019-02-01 $290,163 (2.8%) $333,690 (0.1%) 0.98 2,008
    2019-03-01 $303,029 (5.2%) $344,137 (0.8%) 0.99 1,938
    2019-04-01 $311,700 (5.1%) $349,607 (-3.0%) 0.99 1,933
    2019-05-01 $306,359 (4.6%) $351,253 (2.8%) 0.96 2,098
    2019-06-01 $299,000 (3.1%) $350,064 (1.2%) 0.93 2,259
    2019-07-01 $299,925 (4.2%) $353,546 (3.2%) 0.94 2,350
    2019-08-01 $298,155 (3.5%) $350,284 (3.5%) 0.94 2,443
    2019-09-01 $287,886 (2.9%) $339,241 (2.6%) 0.92 2,589
    2019-10-01 $279,950 (3.7%) $331,347 (2.4%) 0.90 2,672
    2019-11-01 $281,400 (4.6%) $331,683 (3.1%) 0.92 2,481
    2019-12-01 $283,250 (1.2%) $331,310 (1.0%) 0.94 2,175
    2020-01-01 $291,400 (2.3%) $340,449 (3.9%) 0.97 1,915
    2020-02-01 $305,000 (5.1%) $349,526 (4.8%) 1.00 1,802
    2020-03-01 $305,000 (0.7%) $355,773 (3.4%) 0.96 1,869
    2020-04-01 $306,250 (-1.8%) $354,846 (1.5%) 0.96 1,960
    2020-05-01 $315,000 (2.8%) $363,691 (3.5%) 0.96 1,894
    2020-06-01 $319,950 (7.0%) $369,718 (5.6%) 0.94 1,697
    2020-07-01 $319,600 (6.6%) $367,825 (4.0%) 0.93 1,622
    2020-08-01 $314,060 (5.3%) $367,129 (4.8%) 0.90 1,491
    2020-09-01 $308,500 (7.2%) $368,515 (8.6%) 0.88 1,482
    2020-10-01 $294,975 (5.4%) $362,041 (9.3%) 0.85 1,430
    2020-11-01 $288,850 (2.7%) $355,843 (7.3%) 0.84 1,343
    2020-12-01 $290,036 (2.4%) $357,124 (7.8%) 0.86 1,221
    2021-01-01 $315,000 (8.1%) $370,757 (8.9%) 0.94 1,009
    2021-02-01 $322,788 (5.8%) $386,675 (10.6%) 0.94 817
    2021-03-01 $322,075 (5.6%) $384,290 (8.0%) 0.91 840
    2021-04-01 $314,500 (2.7%) $386,328 (8.9%) 0.85 869
    2021-05-01 $305,000 (-3.2%) $391,828 (7.7%) 0.81 922
    2021-06-01 $297,975 (-6.9%) $382,130 (3.4%) 0.78 1,008
    2021-07-01 $289,900 (-9.3%) $371,666 (1.0%) 0.76 1,160
    2021-08-01 $289,900 (-7.7%) $370,023 (0.8%) 0.77 1,184
    2021-09-01 $292,316 (-5.3%) $363,857 (-1.3%) 0.78 1,230
    2021-10-01 $285,000 (-3.4%) $364,831 (0.8%) 0.76 1,229
    2021-11-01 $291,750 (1.0%) $365,619 (2.8%) 0.78 1,116
    2021-12-01 $302,500 (4.3%) $373,742 (4.7%) 0.82 886
    2022-01-01 $375,000 (19.1%) $414,472 (11.8%) 1.01 668
    2022-02-01 $392,050 (21.5%) $427,119 (10.5%) 1.02 614
    2022-03-01 $384,838 (19.5%) $424,718 (10.5%) 0.96 650
    2022-04-01 $375,000 (19.2%) $426,516 (10.4%) 0.89 718
    2022-05-01 $377,741 (23.9%) $435,088 (11.0%) 0.86 917
    2022-06-01 $379,995 (27.5%) $437,113 (14.4%) 0.85 1,098
    2022-07-01 $380,000 (31.1%) $440,422 (18.5%) 0.86 1,318
    2022-08-01 $379,950 (31.1%) $434,309 (17.4%) 0.88 1,549
    2022-09-01 $378,150 (29.4%) $433,609 (19.2%) 0.88 1,571
    2022-10-01 $389,000 (36.5%) $434,950 (19.2%) 0.92 1,743
    2022-11-01 $389,725 (33.6%) $428,454 (17.2%) 0.94 1,794
    2022-12-01 $399,000 (31.9%) $435,939 (16.6%) 0.99 1,591
    2023-01-01 $411,168 (9.6%) $447,458 (8.0%) 1.02 1,459
    2023-02-01 $428,500 (9.3%) $470,392 (10.1%) 1.04 1,310
    2023-03-01 $438,000 (13.8%) $482,157 (13.5%) 1.03 1,332
    2023-04-01 $435,000 (16.0%) $488,707 (14.6%) 1.01 1,340
    2023-05-01 $429,588 (13.7%) $492,277 (13.1%) 0.97 1,416
    2023-06-01 $419,975 (10.5%) $490,037 (12.1%) 0.94 1,544
    2023-07-01 $400,000 (5.3%) $476,867 (8.3%) 0.91 1,666
    2023-08-01 $399,700 (5.2%) $476,695 (9.8%) 0.92 1,680
    2023-09-01 $392,995 (3.9%) $463,567 (6.9%) 0.92 1,844
    2023-10-01 $389,425 (0.1%) $455,940 (4.8%) 0.92 1,997
    Omaha's median listing price for 2023-10-01 was $389,425, a difference of $425 (0.1%) versus the prior year and $-3,570 versus the prior month.

    Omaha's median listing price comes in at 92% of the national average.

    Omaha's average listing price for 2023-10-01 was $455,940, a difference of $20,990 (4.8%) versus the prior year and $-7,627 versus the prior month.

    For the 2023-10-01 period, Omaha had 1,997 MLS listings, a difference of 153 listings (8%) versus the prior month and 254 listings (15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Omaha (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 61 days 2,079 sqft
    2018-02-01 54 days 2,169 sqft
    2018-03-01 43 days 2,286 sqft
    2018-04-01 37 days 2,350 sqft
    2018-05-01 36 days 2,320 sqft
    2018-06-01 25 days 2,339 sqft
    2018-07-01 30 days 2,305 sqft
    2018-08-01 32 days 2,315 sqft
    2018-09-01 37 days 2,284 sqft
    2018-10-01 38 days 2,197 sqft
    2018-11-01 43 days 2,153 sqft
    2018-12-01 54 days 2,136 sqft
    2019-01-01 56 days 2,134 sqft
    2019-02-01 46 days 2,197 sqft
    2019-03-01 41 days 2,302 sqft
    2019-04-01 29 days 2,366 sqft
    2019-05-01 27 days 2,365 sqft
    2019-06-01 30 days 2,309 sqft
    2019-07-01 33 days 2,356 sqft
    2019-08-01 34 days 2,328 sqft
    2019-09-01 34 days 2,250 sqft
    2019-10-01 36 days 2,182 sqft
    2019-11-01 47 days 2,153 sqft
    2019-12-01 60 days 2,129 sqft
    2020-01-01 62 days 2,153 sqft
    2020-02-01 48 days 2,194 sqft
    2020-03-01 43 days 2,223 sqft
    2020-04-01 42 days 2,279 sqft
    2020-05-01 47 days 2,325 sqft
    2020-06-01 48 days 2,302 sqft
    2020-07-01 50 days 2,301 sqft
    2020-08-01 46 days 2,236 sqft
    2020-09-01 43 days 2,210 sqft
    2020-10-01 44 days 2,097 sqft
    2020-11-01 48 days 2,004 sqft
    2020-12-01 51 days 1,997 sqft
    2021-01-01 53 days 1,975 sqft
    2021-02-01 52 days 2,097 sqft
    2021-03-01 42 days 2,135 sqft
    2021-04-01 34 days 2,137 sqft
    2021-05-01 33 days 2,154 sqft
    2021-06-01 33 days 2,118 sqft
    2021-07-01 33 days 2,038 sqft
    2021-08-01 33 days 2,037 sqft
    2021-09-01 36 days 1,956 sqft
    2021-10-01 37 days 1,963 sqft
    2021-11-01 42 days 1,922 sqft
    2021-12-01 49 days 1,931 sqft
    2022-01-01 47 days 2,079 sqft
    2022-02-01 35 days 2,181 sqft
    2022-03-01 32 days 2,149 sqft
    2022-04-01 29 days 2,160 sqft
    2022-05-01 29 days 2,205 sqft
    2022-06-01 30 days 2,259 sqft
    2022-07-01 31 days 2,286 sqft
    2022-08-01 32 days 2,171 sqft
    2022-09-01 42 days 2,137 sqft
    2022-10-01 39 days 2,200 sqft
    2022-11-01 44 days 2,163 sqft
    2022-12-01 57 days 2,166 sqft
    2023-01-01 67 days 2,200 sqft
    2023-02-01 52 days 2,247 sqft
    2023-03-01 50 days 2,283 sqft
    2023-04-01 49 days 2,307 sqft
    2023-05-01 44 days 2,283 sqft
    2023-06-01 42 days 2,300 sqft
    2023-07-01 38 days 2,224 sqft
    2023-08-01 37 days 2,237 sqft
    2023-09-01 36 days 2,201 sqft
    2023-10-01 37 days 2,189 sqft
    Omaha's median listing age (time on market) for 2023-10-01 was 37 days. This is -6% shorter than the same period one year ago.

    Omaha's median square footage for active listings during the 2023-10-01 period was 2,189 sqft. One year prior, the average listing was 2,200 sqft.