Omaha USDA Loan Rates, Closing Costs & Stats

OMAHA-COUNCIL BLUFFS, NE-IA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 17 lenders originated 40 USDA loans during 2023. The total origination value was $7,150,000, with an average USDA loan value of $178,750.

    Omaha USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Omaha averaged 6.82% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Omaha's average USDA mortgage closing costs are $4,135.

    The average rate for the prior week (2024-04-12) was 6.87% and one month ago for the week of 2024-03-15, the average rate was 6.56%.

    The average rate one year ago was 6.4%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.91%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Flanagan State Bank 5 6.73% $6,927
    IOWA BANKERS MORTGAGE CORPORATION 5 6.48% $3,882
    CHARTER WEST BANK 4 6.16% $5,308
    CASTLE & COOKE MORTGAGE, LLC 3 6.75% $6,208
    West Gate Bank 3 6.38% $3,839
    First National Bank of Omaha 3 6.42% $4,529
    Pinnacle Bank 3 6.17% $4,703
    GUILD MORTGAGE COMPANY 2 6.56% $5,414
    CMG MORTGAGE, INC. 2 6.50% $7,660
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $6,856
    LAND HOME FINANCIAL SERVICES, INC. 1 5.63% $5,166
    Flagstar Bank, FSB 1 6.75% $4,613
    Prosperity Home Mortgage, LLC 1 7.12% $5,971
    United Bank of Iowa 1 7.38% $3,122
    UNITED WHOLESALE MORTGAGE, LLC 1 6.60% $4,999
    U.S. Bank 1 5.88% $4,798
    Carrington Mortgage Services, LLC 1 7.50% $6,915

    The top Omaha USDA lender as defined by loan originations is Flanagan State Bank, with 5 USDA loans originated. Their average total fees are $6,927, which is $3,045 higher than the next largest lender, IOWA BANKERS MORTGAGE CORPORATION.

    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 $268,225 (13.3%) $321,358 (12.5%) 0.99 2,014
    2018-02-01 $282,300 (10.9%) $333,461 (12.0%) 1.02 1,844
    2018-03-01 $288,000 (6.8%) $341,574 (11.6%) 1.01 1,894
    2018-04-01 $296,731 (7.9%) $360,474 (15.1%) 1.01 1,972
    2018-05-01 $293,163 (6.6%) $341,602 (6.3%) 0.98 2,098
    2018-06-01 $290,000 (6.5%) $345,900 (8.2%) 0.97 2,350
    2018-07-01 $287,900 (6.7%) $342,710 (7.5%) 0.96 2,510
    2018-08-01 $288,450 (9.5%) $338,516 (8.3%) 0.97 2,620
    2018-09-01 $279,900 (6.8%) $330,766 (5.9%) 0.94 2,781
    2018-10-01 $269,950 (3.9%) $323,404 (3.3%) 0.91 2,850
    2018-11-01 $269,050 (0.8%) $321,614 (0.4%) 0.91 2,777
    2018-12-01 $279,900 (5.6%) $328,002 (2.8%) 0.97 2,415
    2019-01-01 $285,000 (6.3%) $327,731 (2.0%) 0.98 2,142
    2019-02-01 $289,825 (2.7%) $333,601 (0.0%) 0.98 2,007
    2019-03-01 $303,029 (5.2%) $344,066 (0.7%) 0.99 1,937
    2019-04-01 $311,700 (5.0%) $349,559 (-3.0%) 0.99 1,933
    2019-05-01 $306,003 (4.4%) $351,254 (2.8%) 0.96 2,097
    2019-06-01 $299,000 (3.1%) $349,985 (1.2%) 0.93 2,258
    2019-07-01 $299,925 (4.2%) $353,546 (3.2%) 0.94 2,350
    2019-08-01 $298,155 (3.4%) $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 (2.5%) 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 (5.2%) $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 (2.9%) $363,662 (3.5%) 0.96 1,893
    2020-06-01 $319,950 (7.0%) $369,698 (5.6%) 0.94 1,696
    2020-07-01 $319,500 (6.5%) $367,811 (4.0%) 0.93 1,621
    2020-08-01 $313,980 (5.3%) $367,119 (4.8%) 0.90 1,490
    2020-09-01 $308,500 (7.2%) $368,515 (8.6%) 0.88 1,482
    2020-10-01 $294,975 (5.4%) $362,051 (9.3%) 0.85 1,429
    2020-11-01 $288,750 (2.6%) $355,849 (7.3%) 0.84 1,342
    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 (1.1%) 0.76 1,160
    2021-08-01 $289,900 (-7.7%) $370,023 (0.8%) 0.77 1,184
    2021-09-01 $292,450 (-5.2%) $364,030 (-1.2%) 0.78 1,230
    2021-10-01 $285,000 (-3.4%) $365,012 (0.8%) 0.76 1,229
    2021-11-01 $291,750 (1.0%) $365,592 (2.7%) 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 $377,919 (23.9%) $435,217 (11.1%) 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%) $439,786 (18.3%) 0.86 1,318
    2022-08-01 $379,950 (31.1%) $434,309 (17.4%) 0.88 1,549
    2022-09-01 $378,150 (29.3%) $433,609 (19.1%) 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 $411,038 (9.6%) $447,341 (7.9%) 1.02 1,458
    2023-02-01 $428,250 (9.2%) $470,280 (10.1%) 1.03 1,309
    2023-03-01 $438,000 (13.8%) $482,056 (13.5%) 1.03 1,331
    2023-04-01 $435,000 (16.0%) $488,612 (14.6%) 1.01 1,339
    2023-05-01 $429,544 (13.7%) $492,191 (13.1%) 0.97 1,415
    2023-06-01 $419,975 (10.5%) $489,997 (12.1%) 0.94 1,544
    2023-07-01 $400,000 (5.3%) $476,867 (8.4%) 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
    2023-11-01 $385,825 (-1.0%) $446,944 (4.3%) 0.92 2,106
    2023-12-01 $389,000 (-2.5%) $447,748 (2.7%) 0.95 2,011
    2024-01-01 $391,644 (-4.7%) $450,083 (0.6%) 0.96 1,778
    2024-02-01 $399,000 (-6.8%) $462,818 (-1.6%) 0.96 1,699
    2024-03-01 $402,418 (-8.1%) $473,349 (-1.8%) 0.95 1,772
    Omaha's median listing price for 2024-03-01 was $402,418, a difference of $-35,582 (-8.1%) versus the prior year and $3,418 versus the prior month.

    Omaha's median listing price comes in at 95% of the national average.

    Omaha's average listing price for 2024-03-01 was $473,349, a difference of $-8,707 (-1.8%) versus the prior year and $10,531 versus the prior month.

    For the 2024-03-01 period, Omaha had 1,772 MLS listings, a difference of 73 listings (4%) versus the prior month and 441 listings (33%) 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 2,304 sqft
    2018-08-01 32 days 2,315 sqft
    2018-09-01 37 days 2,282 sqft
    2018-10-01 38 days 2,197 sqft
    2018-11-01 43 days 2,153 sqft
    2018-12-01 54 days 2,135 sqft
    2019-01-01 56 days 2,133 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 2,366 sqft
    2019-06-01 30 days 2,310 sqft
    2019-07-01 33 days 2,357 sqft
    2019-08-01 34 days 2,329 sqft
    2019-09-01 34 days 2,251 sqft
    2019-10-01 36 days 2,183 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 2,302 sqft
    2020-08-01 46 days 2,236 sqft
    2020-09-01 43 days 2,209 sqft
    2020-10-01 45 days 2,095 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 2,136 sqft
    2021-05-01 33 days 2,152 sqft
    2021-06-01 33 days 2,116 sqft
    2021-07-01 33 days 2,038 sqft
    2021-08-01 33 days 2,035 sqft
    2021-09-01 36 days 1,954 sqft
    2021-10-01 37 days 1,963 sqft
    2021-11-01 42 days 1,922 sqft
    2021-12-01 49 days 1,929 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 2,260 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 2,199 sqft
    2023-02-01 53 days 2,246 sqft
    2023-03-01 50 days 2,283 sqft
    2023-04-01 49 days 2,304 sqft
    2023-05-01 44 days 2,281 sqft
    2023-06-01 42 days 2,299 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
    2023-11-01 39 days 2,192 sqft
    2023-12-01 45 days 2,197 sqft
    2024-01-01 55 days 2,196 sqft
    2024-02-01 49 days 2,196 sqft
    2024-03-01 39 days 2,169 sqft
    Omaha's median listing age (time on market) for 2024-03-01 was 39 days. This is -22% shorter than the same period one year ago.

    Omaha's median square footage for active listings during the 2024-03-01 period was 2,169 sqft. One year prior, the average listing was 2,283 sqft.