Omaha USDA Loans

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 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.