Omaha USDA Loans

OMAHA-COUNCIL BLUFFS, NE-IA

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 35 lenders originated 150 USDA loans during 2021. The total origination value was $25,640,000, with an average USDA loan value of $170,933.

Omaha USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Omaha averaged 5.13% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.26% and one month ago for the week of 2022-04-08, the average rate was 4.82%.

The average rate one year ago was 2.84%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.05%.

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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Omaha level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Flanagan State Bank 14 2.87% $3,880
IOWA BANKERS MORTGAGE CORPORATION 12 3.00% $3,282
CMG MORTGAGE, INC. 10 2.90% $5,442
West Gate Bank 9 3.03% $2,973
CHARTER WEST BANK 8 2.80% $4,264
Prosperity Home Mortgage, LLC 8 2.78% $4,553
First National Bank of Omaha 5 2.83% $4,072
Chickasaw Community Bank 4 2.91% $3,809
Pinnacle Bank 4 2.72% $4,884
Plains Commerce Bank 4 2.78% $3,997
Regent Financial Group, Inc. 4 3.06% $5,326
Flagstar Bank, FSB 4 3.06% $5,326
GERSHMAN INVESTMENT CORP. 4 3.03% $4,154
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 3.33% $4,080
CALIBER HOME LOANS, INC. 3 2.83% $4,470
Great Southern Bank 3 2.83% $4,844
Gateway First Bank 2 2.31% $3,364
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.06% $4,362
First Nebraska Bank 2 3.06% $3,541
GUILD MORTGAGE COMPANY 1 2.88% $7,072
Bank of England 1 3.13% $4,715
CHURCHILL MORTGAGE CORPORATION 1 2.75% $5,918
Financial Funding Solutions, Inc. 1 2.88% $5,553
American National Bank 1 2.25% $4,935
HOME POINT FINANCIAL CORPORATION 1 3.88% $2,106
HOMESERVICES LENDING, LLC 1 3.25% $3,623
LIBERTY FIRST 1 2.25% $3,373
Lincoln FSB of Nebraska 1 2.25% $3,488
MID AMERICA MORTGAGE, INC. 1 2.75% $2,654
MORIA DEVELOPMENT, INC. 1 3.25% $4,506
OPEN MORTGAGE, LLC 1 2.75% $3,197
UNION HOME MORTGAGE CORP. 1 2.25% $3,833
UNITED WHOLESALE MORTGAGE, LLC 1 2.83% $4,218
U.S. Bank 1 2.50% $4,850
Wells Fargo Bank 1 4.63% $3,067

The top Omaha USDA lender as defined by loan originations is Flanagan State Bank, with 14 USDA loans originated. Their average total fees are $3,880, which is $598 higher than the next largest lender, IOWA BANKERS MORTGAGE CORPORATION.

The lowest fee Omaha USDA lenders (with over 10 loans originated) are IOWA BANKERS MORTGAGE CORPORATION ($3,282), Flanagan State Bank ($3,880), CMG MORTGAGE, INC. ($5,442), .

The lowest rate Omaha USDA lenders (with over 10 loans originated) are Flanagan State Bank (2.87%), CMG MORTGAGE, INC. (2.90%), IOWA BANKERS MORTGAGE CORPORATION (3.00%), .


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 $263,650 (12.3%) $318,021 (11.7%) 0.97 2,079
2018-02-01 $276,975 (8.6%) $330,951 (11.1%) 1.00 1,914
2018-03-01 $285,000 (6.6%) $340,158 (11.5%) 0.99 1,955
2018-04-01 $292,700 (8.4%) $356,711 (14.8%) 0.98 2,036
2018-05-01 $291,000 (6.8%) $338,709 (6.3%) 0.97 2,166
2018-06-01 $289,900 (7.0%) $342,042 (7.2%) 0.97 2,442
2018-07-01 $285,000 (6.0%) $339,607 (7.1%) 0.95 2,615
2018-08-01 $285,000 (9.9%) $335,826 (8.0%) 0.95 2,731
2018-09-01 $279,000 (7.5%) $328,655 (5.4%) 0.93 2,889
2018-10-01 $269,700 (5.6%) $321,402 (3.5%) 0.90 2,958
2018-11-01 $268,250 (2.2%) $319,770 (0.3%) 0.90 2,888
2018-12-01 $275,900 (6.9%) $325,412 (3.1%) 0.94 2,518
2019-01-01 $280,456 (6.4%) $325,685 (2.4%) 0.97 2,231
2019-02-01 $287,500 (3.8%) $331,714 (0.2%) 0.96 2,078
2019-03-01 $299,633 (5.1%) $340,832 (0.2%) 0.98 2,020
2019-04-01 $308,405 (5.4%) $346,156 (-3.0%) 0.97 1,995
2019-05-01 $300,000 (3.1%) $347,799 (2.7%) 0.92 2,149
2019-06-01 $294,500 (1.6%) $346,625 (1.3%) 0.91 2,296
2019-07-01 $298,250 (4.7%) $351,105 (3.4%) 0.93 2,400
2019-08-01 $291,329 (2.2%) $344,570 (2.6%) 0.92 2,495
2019-09-01 $279,925 (0.3%) $332,123 (1.1%) 0.89 2,619
2019-10-01 $279,450 (3.6%) $328,043 (2.1%) 0.89 2,761
2019-11-01 $279,900 (4.3%) $328,850 (2.8%) 0.90 2,552
2019-12-01 $280,950 (1.8%) $329,123 (1.1%) 0.94 2,258
2020-01-01 $289,590 (3.3%) $338,110 (3.8%) 0.97 1,986
2020-02-01 $303,600 (5.6%) $348,737 (5.1%) 0.98 1,861
2020-03-01 $305,000 (1.8%) $356,036 (4.5%) 0.95 1,912
2020-04-01 $305,763 (-0.9%) $354,090 (2.3%) 0.95 2,013
2020-05-01 $315,000 (5.0%) $363,143 (4.4%) 0.95 1,916
2020-06-01 $320,000 (8.7%) $370,249 (6.8%) 0.93 1,727
2020-07-01 $323,740 (8.6%) $375,604 (7.0%) 0.93 1,643
2020-08-01 $314,060 (7.8%) $367,416 (6.6%) 0.90 1,511
2020-09-01 $308,450 (10.2%) $368,726 (11.0%) 0.88 1,503
2020-10-01 $295,000 (5.6%) $363,647 (10.9%) 0.84 1,465
2020-11-01 $288,250 (3.0%) $356,352 (8.4%) 0.83 1,368
2020-12-01 $290,700 (3.5%) $358,564 (9.0%) 0.85 1,260
2021-01-01 $309,400 (6.8%) $366,368 (8.4%) 0.91 1,041
2021-02-01 $321,725 (6.0%) $383,297 (9.9%) 0.93 831
2021-03-01 $318,200 (4.3%) $381,018 (7.0%) 0.89 867
2021-04-01 $311,125 (1.8%) $383,329 (8.3%) 0.84 899
2021-05-01 $300,000 (-4.8%) $388,139 (6.9%) 0.79 930
2021-06-01 $296,950 (-7.2%) $379,589 (2.5%) 0.77 1,021
2021-07-01 $288,563 (-10.9%) $369,790 (-1.6%) 0.75 1,155
2021-08-01 $289,950 (-7.7%) $366,954 (-0.1%) 0.76 1,200
2021-09-01 $292,000 (-5.3%) $361,396 (-2.0%) 0.77 1,253
2021-10-01 $285,000 (-3.4%) $362,149 (-0.4%) 0.75 1,240
2021-11-01 $291,750 (1.2%) $363,706 (2.1%) 0.77 1,136
2021-12-01 $300,000 (3.2%) $372,091 (3.8%) 0.80 901
2022-01-01 $370,000 (19.6%) $411,182 (12.2%) 0.99 683
2022-02-01 $389,480 (21.1%) $424,584 (10.8%) 0.99 619
2022-03-01 $377,563 (18.7%) $421,525 (10.6%) 0.93 655
2022-04-01 $375,000 (20.5%) $425,165 (10.9%) 0.88 724
Omaha's median listing price for 2022-04-01 was $375,000, a difference of $63,875 (20.5%) versus the prior year and $-2,563 versus the prior month.

Omaha's median listing price comes in at 88% of the national average.

Omaha's average listing price for 2022-04-01 was $425,165, a difference of $41,836 (10.9%) versus the prior year and $3,640 versus the prior month.

For the 2022-04-01 period, Omaha had 724 MLS listings, a difference of 69 listings (11%) versus the prior month and -175 listings (-19%) 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 63 days 2,044 sqft
2018-02-01 57 days 2,144 sqft
2018-03-01 44 days 2,256 sqft
2018-04-01 37 days 2,339 sqft
2018-05-01 37 days 2,310 sqft
2018-06-01 25 days 2,332 sqft
2018-07-01 30 days 2,302 sqft
2018-08-01 31 days 2,306 sqft
2018-09-01 37 days 2,257 sqft
2018-10-01 38 days 2,189 sqft
2018-11-01 42 days 2,153 sqft
2018-12-01 54 days 2,121 sqft
2019-01-01 57 days 2,118 sqft
2019-02-01 46 days 2,179 sqft
2019-03-01 55 days 2,260 sqft
2019-04-01 32 days 2,357 sqft
2019-05-01 29 days 2,359 sqft
2019-06-01 30 days 2,291 sqft
2019-07-01 33 days 2,344 sqft
2019-08-01 36 days 2,287 sqft
2019-09-01 37 days 2,184 sqft
2019-10-01 35 days 2,165 sqft
2019-11-01 46 days 2,140 sqft
2019-12-01 59 days 2,107 sqft
2020-01-01 62 days 2,153 sqft
2020-02-01 49 days 2,195 sqft
2020-03-01 47 days 2,225 sqft
2020-04-01 41 days 2,271 sqft
2020-05-01 48 days 2,344 sqft
2020-06-01 49 days 2,327 sqft
2020-07-01 44 days 2,329 sqft
2020-08-01 45 days 2,254 sqft
2020-09-01 45 days 2,196 sqft
2020-10-01 46 days 2,100 sqft
2020-11-01 48 days 2,016 sqft
2020-12-01 50 days 1,984 sqft
2021-01-01 56 days 1,980 sqft
2021-02-01 58 days 2,090 sqft
2021-03-01 46 days 2,127 sqft
2021-04-01 39 days 2,128 sqft
2021-05-01 38 days 2,161 sqft
2021-06-01 35 days 2,118 sqft
2021-07-01 34 days 2,031 sqft
2021-08-01 35 days 2,035 sqft
2021-09-01 36 days 1,956 sqft
2021-10-01 38 days 1,960 sqft
2021-11-01 42 days 1,914 sqft
2021-12-01 50 days 1,925 sqft
2022-01-01 49 days 2,092 sqft
2022-02-01 40 days 2,191 sqft
2022-03-01 35 days 2,165 sqft
2022-04-01 32 days 2,170 sqft
Omaha's median listing age (time on market) for 2022-04-01 was 32 days. This is -18% shorter than the same period one year ago.

Omaha's median square footage for active listings during the 2022-04-01 period was 2,170 sqft. One year prior, the average listing was 2,128 sqft.