Alexander City Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Alexander City averaged
7.44%
for the week of 2024-04-18, compared to the national average of
7.1% for the same period.
The average rate for the prior week (2024-04-11) was
6.82% and
one month ago for the week of 2024-03-14, the
average rate was 6.88%.
Alexander City's average rate one year ago was 6.61%.
For refis of the same type during the week of 2024-04-18, the average rate
was 7.3%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-04-18 | 7.1% |
| Alexander City 30 Year Fixed Rate | 2024-04-18 | 7.44% |
| Alexander City 30 Year Fixed Rate Refi | 2024-04-18 | 7.3% |
| Alexander City 15 Year Fixed Rate | 2024-04-18 | 6.39% |
| Alexander City 15 Year Fixed Rate Refi | 2024-04-18 | 6.99% |
| Alexander City 30 Year FHA | 2024-04-18 | 7.2% |
| Alexander City 30 Year FHA Refi | 2024-04-18 | 6.66% |
| Alexander City 30 Year USDA | 2024-04-18 | 6.66% |
| Alexander City 30 Year USDA Refi | 2024-04-18 | 6.96% |
| Alexander City 30 Year VA | 2024-04-18 | 6.66% |
| Alexander City 30 Year VA Refi | 2024-04-18 | 6.56% |
Alexander City Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Alexander City, AL market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Alexander City Average Closing Costs & Other Stats
Alexander City, AL's 76 lenders originated 908
loans during 2023. The total origination value was $262,170,000, with an average loan value of
$288,733.
Alexander City's average closing costs are $4,620.
The top Alexander City lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
67 loans originated. Their average total fees are
$6,778, which is $716
higher than the next largest lender,
River Bank & Trust.
The lowest fee Alexander City lenders (with over 10 loans originated) are
MOVEMENT MORTGAGE, LLC ($4,279), PENNYMAC LOAN SERVICES, LLC ($4,977), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,181), River Bank & Trust ($6,062) and UNITED WHOLESALE MORTGAGE, LLC ($6,778).
The lowest rate Alexander City lenders (with over 10 loans originated) are
Regions Bank (6.11%), QUICKEN LOANS, LLC (6.46%), PENNYMAC LOAN SERVICES, LLC (6.53%), MOVEMENT MORTGAGE, LLC (6.89%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.91%).
Alexander City, AL Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| UNITED WHOLESALE MORTGAGE, LLC | $36,985,000 | $32,360,000 | -12.5% | 12.3% |
| River Bank & Trust | $44,425,000 | $31,840,000 | -28.3% | 12.1% |
| Renasant Bank | $8,560,000 | $12,470,000 | 45.7% | 4.8% |
| Regions Bank | $19,540,000 | $10,190,000 | -47.9% | 3.9% |
| Trustmark National Bank | $4,485,000 | $8,755,000 | 95.2% | 3.3% |
| QUICKEN LOANS, LLC | $11,830,000 | $8,565,000 | -27.6% | 3.3% |
| Truist | $8,440,000 | $8,385,000 | -0.7% | 3.2% |
| BancorpSouth | $4,305,000 | $7,175,000 | 66.7% | 2.7% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $7,730,000 | $6,585,000 | -14.8% | 2.5% |
| MOVEMENT MORTGAGE, LLC | $5,415,000 | $5,355,000 | -1.1% | 2.0% |
| Morgan Stanley Private Bank | $4,145,000 | $5,335,000 | 28.7% | 2.0% |
| U.S. Bank | $1,860,000 | $5,120,000 | 175.3% | 2.0% |
| BankSouth | $4,445,000 | n/a | 1.7% | |
| PENNYMAC LOAN SERVICES, LLC | $3,710,000 | $4,290,000 | 15.6% | 1.6% |
| 21ST MORTGAGE CORPORATION | $3,180,000 | $3,825,000 | 20.3% | 1.5% |
| AuburnBank | $3,835,000 | $3,755,000 | -2.1% | 1.4% |
| PNC Bank | $2,845,000 | $3,620,000 | 27.2% | 1.4% |
| Synovus Bank | $7,690,000 | $3,420,000 | -55.5% | 1.3% |
| Flagstar Bank, FSB | $1,755,000 | $3,410,000 | 94.3% | 1.3% |
| FIRST COMMUNITY MORTGAGE, INC. | $1,490,000 | $3,195,000 | 114.4% | 1.2% |
| FirstBank | $2,050,000 | $3,115,000 | 52.0% | 1.2% |
| Guardian Credit Union | $2,015,000 | $3,010,000 | 49.4% | 1.1% |
| DELTA COMMUNITY CREDIT UNION | $95,000 | $2,815,000 | 2,863.2% | 1.1% |
| NAVY FEDERAL CREDIT UNION | $1,760,000 | $2,735,000 | 55.4% | 1.0% |
| JPMorgan Chase Bank | $2,765,000 | $2,665,000 | -3.6% | 1.0% |
| CB&S Bank, Inc. | $900,000 | $2,655,000 | 195.0% | 1.0% |
| GMFS LLC | $2,155,000 | $2,610,000 | 21.1% | 1.0% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $2,730,000 | $2,305,000 | -15.6% | 0.9% |
| MORTGAGE INVESTORS GROUP, INC. | $610,000 | $2,255,000 | 269.7% | 0.9% |
| Mortgage Research Center, LLC | $4,565,000 | $2,200,000 | -51.8% | 0.8% |
| CROSSCOUNTRY MORTGAGE, LLC | $5,620,000 | $1,935,000 | -65.6% | 0.7% |
| KINECTA | $1,890,000 | n/a | 0.7% | |
| GUILD MORTGAGE COMPANY | $3,195,000 | $1,850,000 | -42.1% | 0.7% |
| Wells Fargo Bank | $4,015,000 | $1,750,000 | -56.4% | 0.7% |
| LOANDEPOT.COM, LLC | $3,650,000 | $1,620,000 | -55.6% | 0.6% |
| Stifel Bank and Trust | $3,305,000 | $1,595,000 | -51.7% | 0.6% |
| NobleBank & Trust | $1,535,000 | n/a | 0.6% | |
| MAX Credit Union | $2,385,000 | $1,475,000 | -38.2% | 0.6% |
| Heritage South Credit Union | $3,640,000 | $1,470,000 | -59.6% | 0.6% |
| NEW DAY FINANCIAL, LLC | $740,000 | $1,460,000 | 97.3% | 0.6% |
| TRIAD FINANCIAL SERVICES, INC. | $850,000 | $1,405,000 | 65.3% | 0.5% |
| Central State Bank | $2,900,000 | $1,365,000 | -52.9% | 0.5% |
| NEWREZ LLC | $760,000 | $1,305,000 | 71.7% | 0.5% |
| Bank of America | $215,000 | $1,250,000 | 481.4% | 0.5% |
| BAY EQUITY LLC | $2,210,000 | $1,215,000 | -45.0% | 0.5% |
| South State Bank | $17,490,000 | $1,160,000 | -93.4% | 0.4% |
| First South Farm Credit, ACA | $1,120,000 | n/a | 0.4% | |
| First Horizon Bank | $440,000 | $1,105,000 | 151.1% | 0.4% |
| LEGACY COMMUNITY FEDERAL CREDIT UNION | $1,070,000 | n/a | 0.4% | |
| BMO Harris Bank | $1,055,000 | n/a | 0.4% | |
| Ameris Bank | $990,000 | $1,030,000 | 4.0% | 0.4% |
| Mr. Cooper ( Nationstar Mortgage ) | $1,985,000 | $990,000 | -50.1% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $1,380,000 | $950,000 | -31.2% | 0.4% |
| SouthPoint Bank | $5,205,000 | $925,000 | -82.2% | 0.4% |
| Raymond James Bank | $905,000 | n/a | 0.3% | |
| Citizens Bank | $1,655,000 | $895,000 | -45.9% | 0.3% |
| GUARANTY HOME MORTGAGE CORPORATION | $760,000 | $845,000 | 11.2% | 0.3% |
| Mutual Savings Credit Union | $1,960,000 | $845,000 | -56.9% | 0.3% |
| SOUTHWEST STAGE FUNDING, LLC | $410,000 | $845,000 | 106.1% | 0.3% |
| BROKER SOLUTIONS, INC. | $890,000 | $805,000 | -9.6% | 0.3% |
| CMG MORTGAGE, INC. | $5,590,000 | $800,000 | -85.7% | 0.3% |
| Neighborhood Loans, Inc. | $85,000 | $725,000 | 752.9% | 0.3% |
| APCO EMPLOYEES | $1,210,000 | $720,000 | -40.5% | 0.3% |
| Valley National Bank | $2,765,000 | $695,000 | -74.9% | 0.3% |
| ServisFirst Bank | $8,495,000 | $655,000 | -92.3% | 0.2% |
| Assurance Financial Group, L.L.C. | $925,000 | $650,000 | -29.7% | 0.2% |
| AMERICAN FINANCIAL RESOURCES, INC. | $405,000 | $645,000 | 59.3% | 0.2% |
| NEXERA HOLDING LLC | $625,000 | n/a | 0.2% | |
| EMM LOANS LLC | $1,645,000 | $620,000 | -62.3% | 0.2% |
| First Community Bank of Central Alabama | $3,460,000 | $610,000 | -82.4% | 0.2% |
| Carrington Mortgage Services, LLC | $415,000 | $605,000 | 45.8% | 0.2% |
| Marion Bank & Trust Company | $595,000 | n/a | 0.2% | |
| Cornerstone First Mortgage, Inc | $585,000 | n/a | 0.2% | |
| AMERIFIRST BANK | $565,000 | n/a | 0.2% | |
| USAlliance Federal Credit Union | $505,000 | n/a | 0.2% | |
| AVADIAN | $495,000 | n/a | 0.2% | |
| Plains Commerce Bank | $460,000 | n/a | 0.2% | |
| Five Star Credit Union | $455,000 | n/a | 0.2% | |
| AMERISAVE MORTGAGE CORPORATION | $430,000 | $435,000 | 1.2% | 0.2% |
| Bank Independent | $435,000 | n/a | 0.2% | |
| Toyota Financial Savings Bank | $435,000 | n/a | 0.2% | |
| Discover Bank | $160,000 | $430,000 | 168.8% | 0.2% |
| SOUTHEAST MORTGAGE OF GEORGIA, INC. | $470,000 | $425,000 | -9.6% | 0.2% |
| FBC MORTGAGE, LLC | $265,000 | $420,000 | 58.5% | 0.2% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $185,000 | $415,000 | 124.3% | 0.2% |
| United Nations Federal Credit Union | $415,000 | n/a | 0.2% | |
| HOMEOWNERS FINANCIAL GROUP USA, LLC | $410,000 | n/a | 0.2% | |
| Troy Bank and Trust Company | $2,045,000 | $405,000 | -80.2% | 0.2% |
| WINGS FINANCIAL | $710,000 | $405,000 | -43.0% | 0.2% |
| Liberty Mortgage Corporation | $385,000 | n/a | 0.1% | |
| Prosperity Home Mortgage, LLC | $615,000 | $385,000 | -37.4% | 0.1% |
| UNION HOME MORTGAGE CORP. | $315,000 | $375,000 | 19.0% | 0.1% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $555,000 | $355,000 | -36.0% | 0.1% |
| OAKTREE FUNDING CORP. | $355,000 | n/a | 0.1% | |
| TJC Mortgage, Inc. | $770,000 | $325,000 | -57.8% | 0.1% |
| USAA Federal Savings Bank | $1,185,000 | $325,000 | -72.6% | 0.1% |
| Colony Bank | $1,005,000 | $305,000 | -69.7% | 0.1% |
| STOCKTON MORTGAGE CORPORATION | $285,000 | n/a | 0.1% | |
| VILLAGE CAPITAL MORTGAGE | $220,000 | $285,000 | 29.5% | 0.1% |
| Alabama One Credit Union | $270,000 | n/a | 0.1% | |
| AlaTrust Credit Union | $265,000 | n/a | 0.1% | |
| NexBank | $460,000 | $265,000 | -42.4% | 0.1% |
| HOMESIDE FINANCIAL, LLC | $335,000 | $260,000 | -22.4% | 0.1% |
| CARDINAL FINANCIAL | $640,000 | $255,000 | -60.2% | 0.1% |
| CIS Financial Services, Inc. | $255,000 | n/a | 0.1% | |
| First American Bank and Trust Company | $255,000 | n/a | 0.1% | |
| Keystone Funding, Inc. | $245,000 | n/a | 0.1% | |
| First Bank of Alabama | $445,000 | $240,000 | -46.1% | 0.1% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $225,000 | n/a | 0.1% | |
| Southern States Bank | $150,000 | $225,000 | 50.0% | 0.1% |
| The Central Trust Bank | $225,000 | n/a | 0.1% | |
| First Federal Bank of Kansas City | $215,000 | n/a | 0.1% | |
| CSL Financial, LLC | $150,000 | $205,000 | 36.7% | 0.1% |
| Metro City Bank | $95,000 | $200,000 | 110.5% | 0.1% |
| EASTMAN | $725,000 | $195,000 | -73.1% | 0.1% |
| LENDINGHOME FUNDING CORPORATION | $95,000 | $195,000 | 105.3% | 0.1% |
| AUBURN UNIVERSITY CREDIT UNION | $205,000 | $190,000 | -7.3% | 0.1% |
| Equity Prime Mortgage LLC | $185,000 | n/a | 0.1% | |
| HOMEXPRESS MORTGAGE CORP. | $185,000 | n/a | 0.1% | |
| ALABAMA STATE EMPLOYEES CREDIT UNION | $625,000 | $180,000 | -71.2% | 0.1% |
| AMERICA'S FIRST | $235,000 | $175,000 | -25.5% | 0.1% |
| EvaBank | $165,000 | n/a | 0.1% | |
| United Community Bank | $360,000 | $160,000 | -55.6% | 0.1% |
| MILEND, INC. | $325,000 | $155,000 | -52.3% | 0.1% |
| River City Bank | $155,000 | n/a | 0.1% | |
| Princeton Mortgage Corporation | $145,000 | n/a | 0.1% | |
| PLAZA HOME MORTGAGE, INC. | $135,000 | n/a | 0.1% | |
| RELIANCE FIRST CAPITAL, LLC | $125,000 | n/a | 0.0% | |
| Coastal Community Bank | $120,000 | n/a | 0.0% | |
| Figure Lending LLC | $25,000 | $120,000 | 380.0% | 0.0% |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $115,000 | n/a | 0.0% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $115,000 | $115,000 | 0.0% | 0.0% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $155,000 | $115,000 | -25.8% | 0.0% |
| M&T Bank | $95,000 | n/a | 0.0% | |
| FINANCE OF AMERICA REVERSE LLC | $85,000 | n/a | 0.0% | |
| LAKEVIEW LOAN SERVICING, LLC | $75,000 | $85,000 | 13.3% | 0.0% |
| GERSHMAN INVESTMENT CORP. | $65,000 | n/a | 0.0% | |
| HONDA Federal Credit Union | $95,000 | $45,000 | -52.6% | 0.0% |
Alexander City's top lender by overall market share is UNITED WHOLESALE MORTGAGE, LLC, with 12.3% market share. In second place, with 12.1%, is River Bank & Trust, having originated $31,840,000 in loans. In third place, with 4.8%, is Renasant Bank, having originated $12,470,000 in loans. In fourth place, with 3.9%, is Regions Bank, having originated $10,190,000 in loans. In fifth place, with 3.3%, is Trustmark National Bank, having originated $8,755,000 in loans.
Alexander City, AL Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 589 | $197,625,000 | $335,526 |
| Cash Out Refi | 122 | $24,630,000 | $201,885 |
| Refi | 78 | $21,820,000 | $279,744 |
| Home Improvement | 64 | $8,750,000 | $136,719 |
| Other | 55 | $9,345,000 | $169,909 |
Alexander City's most frequently cited loan purpose was Home Purchase, with 589 originations. The 2nd most popular reason was Cash Out Refi, with 122 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 285 | $89,125,000 | $312,719 |
| 7-8% | 235 | $66,545,000 | $283,170 |
| Over 8% | 188 | $34,320,000 | $182,553 |
| 5-6% | 133 | $49,105,000 | $369,211 |
| 4-5% | 16 | $5,040,000 | $315,000 |
| 3-4% | 7 | $785,000 | $112,143 |
| 2.5-3% | 2 | $350,000 | $175,000 |
During 2023, Alexander City's most frequently originated rate bucket was 6-7%, with 285 originations.
Loan Sizing (Alexander City, AL MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 268 | $38,970,000 | $145,410 |
| $100,000 or less | 234 | $14,610,000 | $62,436 |
| $200k-400k | 210 | $58,630,000 | $279,190 |
| $400k-600k | 104 | $48,810,000 | $469,327 |
| $600k-1000k | 65 | $47,505,000 | $730,846 |
| $Over $1MM | 27 | $53,645,000 | $1,986,852 |
Alexander City's loan sizing saw the bucket of loans from $100k-200k with 268 originations, totaling $38,970,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 367 | $97,915,000 | $266,798 |
| 60-80% | 202 | $77,780,000 | $385,050 |
| 40-60% | 102 | $35,110,000 | $344,216 |
| 20-40% | 99 | $24,245,000 | $244,899 |
| Under 20% | 72 | $5,890,000 | $81,806 |
| Over 100% | 17 | $3,205,000 | $188,529 |
Alexander City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 367 originations, totaling $97,915,000 in origination value.