Evansville VA Loan Rates, Closing Costs & Stats

EVANSVILLE, IN-KY

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Evansville's 67 lenders originated 425 VA loans during 2022. The total origination value was $98,095,000, with an average VA loan value of $230,812.

Evansville VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Evansville averaged -0.29% for the week of 2024-02-23, compared to the national average (all VA variants) of 0% for the same period.

Evansville's average VA mortgage closing costs are $4,248.

The average rate for the prior week (2024-02-16) was 6.38% and one month ago for the week of 2024-01-19, the average rate was 6.34%.

The average rate one year ago was 6.25%.

For refis of the same type during the week of 2024-02-23, the average rate was -0.91%.

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

Evansville VA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Evansville level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Mortgage Research Center, LLC 99 5.12% $4,848
MORTGAGE MASTERS OF INDIANA, INC. 43 4.75% $5,652
QUICKEN LOANS, LLC 18 4.32% $9,108
FREEDOM MORTGAGE CORPORATION 18 4.61% $7,035
UNITED WHOLESALE MORTGAGE, LLC 17 4.23% $5,524
USAA Federal Savings Bank 13 4.03% $7,669
EVANSVILLE TEACHERS 12 4.57% $6,067
NAVY FEDERAL CREDIT UNION 12 3.82% $3,253
CALIBER HOME LOANS, INC. 10 4.34% $5,749
FBC MORTGAGE, LLC 10 4.94% $9,535
RUOFF MORTGAGE COMPANY, INC. 9 4.50% $5,463
Bank of England 9 5.28% $4,678
NEW DAY FINANCIAL, LLC 8 4.87% $7,444
Servion, Inc. 7 3.82% $7,030
Fifth Third Bank 7 3.41% $3,322
LOANDEPOT.COM, LLC 6 4.33% $6,035
PENNYMAC LOAN SERVICES, LLC 6 3.35% $4,720
Mr. Cooper ( Nationstar Mortgage ) 6 5.02% $6,465
Carrington Mortgage Services, LLC 6 5.04% $4,379
GVC MORTGAGE, INC. 5 5.83% $6,256
LAKEVIEW LOAN SERVICING, LLC 4 3.75% $4,160
VILLAGE CAPITAL MORTGAGE 4 4.72% $11,406
CLEARPATH LENDING 4 3.87% $6,022
PLAZA HOME MORTGAGE, INC. 4 5.50% $7,858
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 4.75% $9,565
AMERISAVE MORTGAGE CORPORATION 3 4.96% $9,452
Century Mortgage Company DBA Century Lending Company 3 5.25% $8,488
Equity Prime Mortgage LLC 3 4.42% $8,679
Flagstar Bank, FSB 3 5.34% $9,281
HOME POINT FINANCIAL CORPORATION 3 4.58% $6,026
MOVEMENT MORTGAGE, LLC 3 5.88% $4,503
Northpointe Bank 3 4.58% $10,278
NEWREZ LLC 2 6.25% $11,629
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.25% $4,398
U.S. Bank 2 6.00% $9,749
FAIR WAY LENDING LLC 2 3.81% $3,589
The Federal Savings Bank 2 3.50% $7,524
Barrington Bank & Trust Company, N.A. 2 4.88% $11,295
TOP FLITE FINANCIAL, INC. 2 6.06% $6,364
North American Savings Bank, F.S.B. 1 3.25% $11,358
Wyndham Capital Mortgage, Inc. 1 5.50% $10,341
Old National Bank 1 5.75% $14,166
Paramount Residential Mortgage Group, Inc. 1 3.88% $4,399
AMERICAN FINANCING CORPORATION 1 3.38% $11,597
PENTAGON FEDERAL CREDIT UNION 1 2.38% $1,283
CRESCENT MORTGAGE COMPANY 1 3.13% $1,411
PNC Bank 1 5.63% $1,447
CMG MORTGAGE, INC. 1 4.38% $6,837
Regions Bank 1 4.00% $2,894
RELIANCE FIRST CAPITAL, LLC 1 2.63% $14,047
Arvest Bank 1 5.00% $12,607
SUN WEST MORTGAGE COMPANY, INC. 1 4.80% $1,547
Texana Bank 1 4.25% $15,031
THRIVE MORTGAGE, LLC 1 4.88% $12,770
AMERIFIRST FINANCIAL CORPORATION 1 4.75% $8,038
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.75% $8,078
American Mortgage & Equity Consultants, Inc. 1 5.63% $638
Waterstone Mortgage Corporation 1 5.13% $4,335
INTERLINC MORTGAGE SERVICES, LLC 1 5.13% $3,396
Mid-Continent Funding, Inc. 1 3.50% $11,386
LOANPAL, LLC 1 5.00% $3,763
GUARANTEED RATE, INC. 1 5.68% $8,153
Wells Fargo Bank 1 4.25% $0
German American Bank 1 3.13% $2,570
MUTUAL OF OMAHA MORTGAGE, INC. 1 4.50% $4,213
Nations Lending Corporation 1 6.00% $10,503
First Federal Bank 1 4.75% $5,204

The top Evansville VA lender as defined by loan originations is Mortgage Research Center, LLC, with 99 VA loans originated. Their average total fees are $4,848, which is $804 lower than the next largest lender, MORTGAGE MASTERS OF INDIANA, INC..

The lowest fee Evansville VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($3,253), Mortgage Research Center, LLC ($4,848), UNITED WHOLESALE MORTGAGE, LLC ($5,524), MORTGAGE MASTERS OF INDIANA, INC. ($5,652) and CALIBER HOME LOANS, INC. ($5,749).

The lowest rate Evansville VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION (3.82%), USAA Federal Savings Bank (4.03%), UNITED WHOLESALE MORTGAGE, LLC (4.23%), QUICKEN LOANS, LLC (4.32%) and CALIBER HOME LOANS, INC. (4.34%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Evansville (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 $149,900 (15.7%) $196,453 (12.4%) 0.56 806
2018-02-01 $151,400 (14.9%) $200,485 (11.8%) 0.55 752
2018-03-01 $172,250 (19.9%) $212,525 (14.9%) 0.60 673
2018-04-01 $173,925 (20.7%) $219,841 (16.2%) 0.59 642
2018-05-01 $171,000 (13.0%) $223,990 (11.9%) 0.57 657
2018-06-01 $169,900 (12.3%) $224,475 (13.9%) 0.57 739
2018-07-01 $164,900 (6.9%) $216,989 (8.5%) 0.55 787
2018-08-01 $162,800 (10.0%) $209,485 (1.3%) 0.55 819
2018-09-01 $159,900 (6.6%) $209,499 (-1.7%) 0.54 821
2018-10-01 $163,200 (3.1%) $207,898 (-4.0%) 0.55 851
2018-11-01 $160,725 (1.4%) $202,973 (-6.2%) 0.54 867
2018-12-01 $155,000 (4.1%) $194,372 (0.8%) 0.53 824
2019-01-01 $152,450 (0.0%) $188,617 (-4.0%) 0.53 795
2019-02-01 $157,475 (0.6%) $192,805 (-3.8%) 0.53 734
2019-03-01 $171,329 (-2.8%) $206,682 (-2.8%) 0.56 688
2019-04-01 $179,900 (1.7%) $219,932 (0.0%) 0.57 661
2019-05-01 $179,300 (1.5%) $224,964 (0.4%) 0.56 687
2019-06-01 $179,900 (5.9%) $226,497 (0.9%) 0.56 698
2019-07-01 $171,875 (5.7%) $222,687 (2.6%) 0.54 727
2019-08-01 $160,873 (0.2%) $214,183 (2.2%) 0.51 780
2019-09-01 $154,757 (-0.3%) $208,062 (-0.7%) 0.50 828
2019-10-01 $150,680 (-6.1%) $204,585 (-1.6%) 0.49 857
2019-11-01 $146,450 (-7.6%) $201,109 (-0.9%) 0.48 789
2019-12-01 $139,825 (-7.3%) $195,692 (0.7%) 0.47 721
2020-01-01 $133,750 (-10.5%) $191,931 (1.8%) 0.45 645
2020-02-01 $139,900 (-7.0%) $198,231 (2.8%) 0.46 535
2020-03-01 $172,450 (1.8%) $222,365 (7.6%) 0.54 465
2020-04-01 $178,400 (0.7%) $226,171 (2.8%) 0.56 467
2020-05-01 $179,900 (1.9%) $240,661 (7.0%) 0.55 431
2020-06-01 $189,675 (3.5%) $251,955 (11.2%) 0.56 411
2020-07-01 $184,675 (6.3%) $245,863 (10.4%) 0.54 406
2020-08-01 $189,900 (12.0%) $252,300 (17.8%) 0.54 383
2020-09-01 $178,450 (10.4%) $239,698 (15.2%) 0.51 386
2020-10-01 $176,950 (12.9%) $230,908 (12.9%) 0.51 373
2020-11-01 $164,900 (9.7%) $226,944 (12.9%) 0.48 395
2020-12-01 $149,948 (4.3%) $209,718 (7.2%) 0.45 378
2021-01-01 $159,450 (10.0%) $207,914 (8.3%) 0.48 306
2021-02-01 $163,750 (9.4%) $221,136 (11.6%) 0.48 217
2021-03-01 $164,450 (0.1%) $223,171 (0.4%) 0.47 189
2021-04-01 $185,000 (3.2%) $222,851 (-1.5%) 0.50 187
2021-05-01 $184,900 (0.6%) $226,840 (-5.7%) 0.49 192
2021-06-01 $204,750 (9.8%) $253,239 (0.5%) 0.54 229
2021-07-01 $197,350 (1.3%) $248,295 (1.0%) 0.52 297
2021-08-01 $176,700 (-5.5%) $236,496 (-6.3%) 0.47 348
2021-09-01 $181,300 (0.2%) $234,531 (-2.2%) 0.48 355
2021-10-01 $189,900 (2.9%) $240,234 (4.0%) 0.51 338
2021-11-01 $192,444 (12.8%) $244,465 (7.7%) 0.51 317
2021-12-01 $177,425 (15.0%) $243,877 (16.3%) 0.48 286
2022-01-01 $209,450 (25.6%) $250,978 (20.7%) 0.57 232
2022-02-01 $219,450 (28.4%) $261,165 (18.1%) 0.57 168
2022-03-01 $199,450 (14.7%) $248,741 (11.5%) 0.50 166
2022-04-01 $218,800 (8.1%) $261,577 (17.4%) 0.52 200
2022-05-01 $230,000 (25.0%) $282,961 (24.7%) 0.53 241
2022-06-01 $249,900 (18.7%) $289,718 (14.4%) 0.56 294
2022-07-01 $230,000 (18.2%) $276,044 (11.2%) 0.52 375
2022-08-01 $229,675 (24.7%) $282,886 (19.6%) 0.53 384
2022-09-01 $220,600 (23.8%) $285,077 (21.6%) 0.52 395
2022-10-01 $234,700 (25.0%) $292,326 (21.7%) 0.55 419
2022-11-01 $241,475 (26.0%) $287,893 (17.8%) 0.58 450
2022-12-01 $249,900 (42.1%) $291,828 (19.7%) 0.62 424
2023-01-01 $260,544 (35.6%) $311,291 (24.0%) 0.65 364
2023-02-01 $272,900 (33.0%) $340,693 (30.5%) 0.66 310
2023-03-01 $273,425 (38.4%) $356,427 (43.3%) 0.64 274
2023-04-01 $299,900 (44.5%) $353,623 (35.2%) 0.70 283
2023-05-01 $284,700 (20.9%) $356,155 (25.9%) 0.65 298
2023-06-01 $299,309 (20.2%) $366,350 (26.5%) 0.67 310
2023-07-01 $299,734 (28.7%) $375,519 (36.0%) 0.68 301
2023-08-01 $281,900 (27.6%) $339,407 (20.0%) 0.65 342
2023-09-01 $250,000 (14.5%) $310,149 (8.8%) 0.58 392
2023-10-01 $249,250 (7.6%) $297,642 (1.8%) 0.59 475
2023-11-01 $239,900 (1.9%) $292,125 (1.5%) 0.57 530
2023-12-01 $239,900 (0.0%) $282,605 (-3.2%) 0.59 484
Evansville's median listing price for 2023-12-01 was $239,900, a difference of $-10,000 (0.0%) versus the prior year and $0 versus the prior month.

Evansville's median listing price comes in at 59% of the national average.

Evansville's average listing price for 2023-12-01 was $282,605, a difference of $-9,223 (-3.2%) versus the prior year and $-9,520 versus the prior month.

For the 2023-12-01 period, Evansville had 484 MLS listings, a difference of -46 listings (-9%) versus the prior month and 60 listings (14%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Evansville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 81 days 1,885 sqft
2018-02-01 82 days 1,846 sqft
2018-03-01 73 days 1,965 sqft
2018-04-01 55 days 1,997 sqft
2018-05-01 45 days 1,974 sqft
2018-06-01 43 days 1,958 sqft
2018-07-01 45 days 1,918 sqft
2018-08-01 50 days 1,903 sqft
2018-09-01 57 days 1,904 sqft
2018-10-01 60 days 1,939 sqft
2018-11-01 60 days 1,873 sqft
2018-12-01 67 days 1,861 sqft
2019-01-01 74 days 1,842 sqft
2019-02-01 72 days 1,845 sqft
2019-03-01 68 days 1,913 sqft
2019-04-01 60 days 2,012 sqft
2019-05-01 47 days 1,984 sqft
2019-06-01 52 days 1,971 sqft
2019-07-01 52 days 1,947 sqft
2019-08-01 52 days 1,897 sqft
2019-09-01 52 days 1,845 sqft
2019-10-01 53 days 1,815 sqft
2019-11-01 65 days 1,819 sqft
2019-12-01 80 days 1,744 sqft
2020-01-01 87 days 1,704 sqft
2020-02-01 87 days 1,734 sqft
2020-03-01 59 days 1,884 sqft
2020-04-01 54 days 1,905 sqft
2020-05-01 57 days 1,918 sqft
2020-06-01 50 days 1,992 sqft
2020-07-01 45 days 1,915 sqft
2020-08-01 46 days 1,920 sqft
2020-09-01 35 days 1,887 sqft
2020-10-01 36 days 1,790 sqft
2020-11-01 41 days 1,782 sqft
2020-12-01 46 days 1,645 sqft
2021-01-01 58 days 1,690 sqft
2021-02-01 59 days 1,653 sqft
2021-03-01 31 days 1,690 sqft
2021-04-01 24 days 1,813 sqft
2021-05-01 23 days 1,787 sqft
2021-06-01 22 days 1,862 sqft
2021-07-01 24 days 1,886 sqft
2021-08-01 25 days 1,800 sqft
2021-09-01 39 days 1,799 sqft
2021-10-01 37 days 1,822 sqft
2021-11-01 35 days 1,803 sqft
2021-12-01 45 days 1,773 sqft
2022-01-01 54 days 1,827 sqft
2022-02-01 49 days 1,802 sqft
2022-03-01 29 days 1,665 sqft
2022-04-01 19 days 1,809 sqft
2022-05-01 20 days 1,851 sqft
2022-06-01 22 days 1,959 sqft
2022-07-01 26 days 1,824 sqft
2022-08-01 36 days 1,881 sqft
2022-09-01 40 days 1,910 sqft
2022-10-01 43 days 1,920 sqft
2022-11-01 45 days 1,902 sqft
2022-12-01 56 days 1,895 sqft
2023-01-01 64 days 1,972 sqft
2023-02-01 60 days 2,036 sqft
2023-03-01 47 days 2,037 sqft
2023-04-01 38 days 2,008 sqft
2023-05-01 32 days 2,014 sqft
2023-06-01 38 days 2,033 sqft
2023-07-01 36 days 2,031 sqft
2023-08-01 31 days 1,981 sqft
2023-09-01 36 days 1,940 sqft
2023-10-01 36 days 1,856 sqft
2023-11-01 41 days 1,754 sqft
2023-12-01 51 days 1,728 sqft
Evansville's median listing age (time on market) for 2023-12-01 was 51 days. This is -9% shorter than the same period one year ago.

Evansville's median square footage for active listings during the 2023-12-01 period was 1,728 sqft. One year prior, the average listing was 1,895 sqft.

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.