Omaha USDA Loan Rates, Closing Costs & Stats

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 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 6.8% for the week of 2024-05-24, compared to the national average (all USDA variants) of 6.738% for the same period.

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

The average rate for the prior week (2024-05-17) was 6.88% and one month ago for the week of 2024-04-19, the average rate was 6.62%.

The average rate one year ago was 6.63%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.89%.

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
2024-04-01 $408,276 (-6.1%) $481,422 (-1.5%) 0.95 1,845
Omaha's median listing price for 2024-04-01 was $408,276, a difference of $-26,724 (-6.1%) versus the prior year and $5,858 versus the prior month.

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

Omaha's average listing price for 2024-04-01 was $481,422, a difference of $-7,190 (-1.5%) versus the prior year and $8,073 versus the prior month.

For the 2024-04-01 period, Omaha had 1,845 MLS listings, a difference of 73 listings (4%) versus the prior month and 506 listings (38%) 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
2024-04-01 40 days 2,204 sqft
Omaha's median listing age (time on market) for 2024-04-01 was 40 days. This is -19% shorter than the same period one year ago.

Omaha's median square footage for active listings during the 2024-04-01 period was 2,204 sqft. One year prior, the average listing was 2,304 sqft.