Alexander City Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Alexander City averaged
6.28%
for the week of 2023-05-25, compared to the national average of
6.57% for the same period.
The average rate for the prior week (2023-05-18) was
6.2% and
one month ago for the week of 2023-04-20, the
average rate was 5.9%.
Alexander City's average rate one year ago was 4.96%.
For refis of the same type during the week of 2023-05-25, the average rate
was 6.97%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-05-25 | 6.57% |
| Alexander City 30 Year Fixed Rate | 2023-05-25 | 6.28% |
| Alexander City 30 Year Fixed Rate Refi | 2023-05-25 | 6.97% |
| Alexander City 15 Year Fixed Rate | 2023-05-25 | 5.87% |
| Alexander City 15 Year Fixed Rate Refi | 2023-05-25 | 5.97% |
| Alexander City 30 Year FHA | 2023-05-25 | 6.25% |
| Alexander City 30 Year FHA Refi | 2023-05-25 | 6.61% |
| Alexander City 30 Year USDA | 2023-05-25 | 6.63% |
| Alexander City 30 Year USDA Refi | 2023-05-25 | 6.83% |
| Alexander City 30 Year VA | 2023-05-25 | 6.31% |
| Alexander City 30 Year VA Refi | 2023-05-25 | 6.31% |
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 103 lenders originated 1,225
loans during 2022. The total origination value was $344,405,000, with an average loan value of
$281,147.
Alexander City's average closing costs are $4,389.
The top Alexander City lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
64 loans originated. Their average total fees are
$5,465, which is $2,004
higher than the next largest lender,
River Bank & Trust.
The lowest fee Alexander City lenders (with over 10 loans originated) are
Trustmark National Bank ($3,328), River Bank & Trust ($3,461), Truist ($3,904), Renasant Bank ($4,452) and MOVEMENT MORTGAGE, LLC ($4,490).
The lowest rate Alexander City lenders (with over 10 loans originated) are
Truist (4.08%), Regions Bank (4.10%), Trustmark National Bank (4.20%), River Bank & Trust (4.41%) and South State Bank (4.41%).
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 | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
|---|---|---|---|---|
| River Bank & Trust | $23,895,000 | $44,425,000 | 85.9% | 12.9% |
| UNITED WHOLESALE MORTGAGE, LLC | $77,390,000 | $36,985,000 | -52.2% | 10.7% |
| Regions Bank | $31,775,000 | $19,540,000 | -38.5% | 5.7% |
| South State Bank | $5,425,000 | $17,490,000 | 222.4% | 5.1% |
| QUICKEN LOANS, LLC | $26,315,000 | $11,830,000 | -55.0% | 3.4% |
| Renasant Bank | $22,920,000 | $8,560,000 | -62.7% | 2.5% |
| ServisFirst Bank | $6,195,000 | $8,495,000 | 37.1% | 2.5% |
| Truist | $9,610,000 | $8,440,000 | -12.2% | 2.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $7,585,000 | $7,730,000 | 1.9% | 2.2% |
| Synovus Bank | $7,790,000 | $7,690,000 | -1.3% | 2.2% |
| CROSSCOUNTRY MORTGAGE, LLC | $9,000,000 | $5,620,000 | -37.6% | 1.6% |
| CMG MORTGAGE, INC. | $8,020,000 | $5,590,000 | -30.3% | 1.6% |
| MOVEMENT MORTGAGE, LLC | $8,930,000 | $5,415,000 | -39.4% | 1.6% |
| SouthPoint Bank | $5,305,000 | $5,205,000 | -1.9% | 1.5% |
| Mortgage Research Center, LLC | $5,965,000 | $4,565,000 | -23.5% | 1.3% |
| Trustmark National Bank | $10,235,000 | $4,485,000 | -56.2% | 1.3% |
| BancorpSouth Bank | $3,355,000 | $4,305,000 | 28.3% | 1.2% |
| Morgan Stanley Private Bank | $5,250,000 | $4,145,000 | -21.0% | 1.2% |
| Wells Fargo Bank | $9,005,000 | $4,015,000 | -55.4% | 1.2% |
| AuburnBank | $5,220,000 | $3,835,000 | -26.5% | 1.1% |
| PENNYMAC LOAN SERVICES, LLC | $11,090,000 | $3,710,000 | -66.5% | 1.1% |
| LOANDEPOT.COM, LLC | $10,585,000 | $3,650,000 | -65.5% | 1.1% |
| Heritage South Credit Union | $3,290,000 | $3,640,000 | 10.6% | 1.1% |
| First Community Bank of Central Alabama | $1,245,000 | $3,460,000 | 177.9% | 1.0% |
| Stifel Bank and Trust | $1,485,000 | $3,305,000 | 122.6% | 1.0% |
| GUILD MORTGAGE COMPANY | $6,380,000 | $3,195,000 | -49.9% | 0.9% |
| 21ST MORTGAGE CORPORATION | $2,740,000 | $3,180,000 | 16.1% | 0.9% |
| Community Bank of Mississippi | $3,125,000 | n/a | 0.9% | |
| Central State Bank | $1,235,000 | $2,900,000 | 134.8% | 0.8% |
| PNC Bank | $4,840,000 | $2,845,000 | -41.2% | 0.8% |
| JPMorgan Chase Bank | $3,485,000 | $2,765,000 | -20.7% | 0.8% |
| Valley National Bank | $4,125,000 | $2,765,000 | -33.0% | 0.8% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $2,820,000 | $2,730,000 | -3.2% | 0.8% |
| INTERLINC MORTGAGE SERVICES, LLC | $4,585,000 | $2,515,000 | -45.1% | 0.7% |
| MAX Credit Union | $4,565,000 | $2,385,000 | -47.8% | 0.7% |
| BAY EQUITY LLC | $2,900,000 | $2,210,000 | -23.8% | 0.6% |
| GMFS LLC | $6,085,000 | $2,155,000 | -64.6% | 0.6% |
| HOME POINT FINANCIAL CORPORATION | $5,250,000 | $2,145,000 | -59.1% | 0.6% |
| FirstBank | $1,220,000 | $2,050,000 | 68.0% | 0.6% |
| Troy Bank and Trust Company | $265,000 | $2,045,000 | 671.7% | 0.6% |
| Guardian Credit Union | $3,255,000 | $2,015,000 | -38.1% | 0.6% |
| Mr. Cooper ( Nationstar Mortgage ) | $2,310,000 | $1,985,000 | -14.1% | 0.6% |
| Mutual Savings Credit Union | $1,205,000 | $1,960,000 | 62.7% | 0.6% |
| U.S. Bank | $4,905,000 | $1,860,000 | -62.1% | 0.5% |
| NAVY FEDERAL CREDIT UNION | $1,875,000 | $1,760,000 | -6.1% | 0.5% |
| Flagstar Bank, FSB | $5,180,000 | $1,755,000 | -66.1% | 0.5% |
| Citizens Bank | $2,510,000 | $1,655,000 | -34.1% | 0.5% |
| EMM LOANS LLC | $1,645,000 | n/a | 0.5% | |
| FIRST COMMUNITY MORTGAGE, INC. | $8,920,000 | $1,490,000 | -83.3% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $6,165,000 | $1,380,000 | -77.6% | 0.4% |
| APCO EMPLOYEES | $1,270,000 | $1,210,000 | -4.7% | 0.4% |
| Goldwater Bank, N.A. | $595,000 | $1,205,000 | 102.5% | 0.3% |
| Lake City Bank | $1,205,000 | n/a | 0.3% | |
| USAA Federal Savings Bank | $1,180,000 | $1,185,000 | 0.4% | 0.3% |
| BETTER MORTGAGE CORPORATION | $4,000,000 | $1,180,000 | -70.5% | 0.3% |
| Colony Bank | $1,005,000 | n/a | 0.3% | |
| The Northern Trust Company | $1,005,000 | n/a | 0.3% | |
| Ameris Bank | $3,355,000 | $990,000 | -70.5% | 0.3% |
| ACIPCO Federal Credit Union | $950,000 | n/a | 0.3% | |
| Assurance Financial Group, L.L.C. | $980,000 | $925,000 | -5.6% | 0.3% |
| CB&S Bank, Inc. | $1,215,000 | $900,000 | -25.9% | 0.3% |
| BROKER SOLUTIONS, INC. | $1,650,000 | $890,000 | -46.1% | 0.3% |
| TRIAD FINANCIAL SERVICES, INC. | $1,630,000 | $850,000 | -47.9% | 0.2% |
| TJC Mortgage, Inc. | $1,420,000 | $770,000 | -45.8% | 0.2% |
| CREDIT UNION OF GEORGIA | $765,000 | n/a | 0.2% | |
| Goldman Sachs Bank USA | $765,000 | n/a | 0.2% | |
| GUARANTY HOME MORTGAGE CORPORATION | $1,575,000 | $760,000 | -51.7% | 0.2% |
| NEWREZ LLC | $1,180,000 | $760,000 | -35.6% | 0.2% |
| EVERETT FINANCIAL, INC. | $155,000 | $755,000 | 387.1% | 0.2% |
| NEW DAY FINANCIAL, LLC | $970,000 | $740,000 | -23.7% | 0.2% |
| EASTMAN | $725,000 | n/a | 0.2% | |
| Sierra Pacific Mortgage Company, Inc. | $515,000 | $725,000 | 40.8% | 0.2% |
| WINGS FINANCIAL | $710,000 | n/a | 0.2% | |
| Metro Bank | $685,000 | n/a | 0.2% | |
| City National Bank | $665,000 | n/a | 0.2% | |
| HANCOCK MORTGAGE PARTNERS, LLC | $645,000 | n/a | 0.2% | |
| SOFI LENDING CORP. | $370,000 | $645,000 | 74.3% | 0.2% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $2,160,000 | $640,000 | -70.4% | 0.2% |
| The First, A National Banking Association | $325,000 | $640,000 | 96.9% | 0.2% |
| PeoplesSouth Bank | $635,000 | $635,000 | 0.0% | 0.2% |
| ALABAMA STATE EMPLOYEES CREDIT UNION | $60,000 | $625,000 | 941.7% | 0.2% |
| CALIBER HOME LOANS, INC. | $3,055,000 | $620,000 | -79.7% | 0.2% |
| Prosperity Home Mortgage, LLC | $1,590,000 | $615,000 | -61.3% | 0.2% |
| MORTGAGE INVESTORS GROUP, INC. | $2,235,000 | $610,000 | -72.7% | 0.2% |
| Progress Bank and Trust | $1,145,000 | $610,000 | -46.7% | 0.2% |
| CERTAINTY HOME LOANS, LLC | $565,000 | n/a | 0.2% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $1,245,000 | $555,000 | -55.4% | 0.2% |
| Guaranty Bank and Trust Company | $545,000 | n/a | 0.2% | |
| NBKC BANK | $950,000 | $535,000 | -43.7% | 0.2% |
| Hometown Lenders, Inc. | $2,660,000 | $515,000 | -80.6% | 0.1% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $480,000 | n/a | 0.1% | |
| SOUTHEAST MORTGAGE OF GEORGIA, INC. | $1,260,000 | $470,000 | -62.7% | 0.1% |
| NexBank | $460,000 | n/a | 0.1% | |
| Pinnacle Bank | $455,000 | n/a | 0.1% | |
| First Bank of Alabama | $235,000 | $445,000 | 89.4% | 0.1% |
| Independent Bank | $445,000 | n/a | 0.1% | |
| First Horizon Bank | $2,560,000 | $440,000 | -82.8% | 0.1% |
| AMERISAVE MORTGAGE CORPORATION | $4,250,000 | $430,000 | -89.9% | 0.1% |
| ZILLOW HOME LOANS, LLC | $420,000 | n/a | 0.1% | |
| Carrington Mortgage Services, LLC | $770,000 | $415,000 | -46.1% | 0.1% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $275,000 | $415,000 | 50.9% | 0.1% |
| SOUTHWEST STAGE FUNDING, LLC | $335,000 | $410,000 | 22.4% | 0.1% |
| AMERICAN FINANCIAL RESOURCES, INC. | $655,000 | $405,000 | -38.2% | 0.1% |
| Northpointe Bank | $385,000 | n/a | 0.1% | |
| United Community Bank | $740,000 | $360,000 | -51.4% | 0.1% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $355,000 | n/a | 0.1% | |
| MICHIGAN MUTUAL, INC. | $355,000 | n/a | 0.1% | |
| Trinity Oaks Mortgage, LLC | $345,000 | n/a | 0.1% | |
| Deere Employees Credit Union | $340,000 | n/a | 0.1% | |
| First Federal Bank | $635,000 | $340,000 | -46.5% | 0.1% |
| EVANSVILLE TEACHERS | $335,000 | n/a | 0.1% | |
| HOMESIDE FINANCIAL, LLC | $145,000 | $335,000 | 131.0% | 0.1% |
| Nations Lending Corporation | $315,000 | $330,000 | 4.8% | 0.1% |
| MILEND, INC. | $325,000 | n/a | 0.1% | |
| UNION HOME MORTGAGE CORP. | $750,000 | $315,000 | -58.0% | 0.1% |
| HOMESTAR FINANCIAL CORPORATION | $970,000 | $310,000 | -68.0% | 0.1% |
| AOD Federal Credit Union | $305,000 | n/a | 0.1% | |
| BankPlus | $305,000 | n/a | 0.1% | |
| Eco Credit Union | $305,000 | n/a | 0.1% | |
| Gulf Winds Credit Union | $305,000 | n/a | 0.1% | |
| AMERICAN INTERNET MORTGAGE, INC. | $770,000 | $285,000 | -63.0% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $900,000 | $285,000 | -68.3% | 0.1% |
| Bryant Bank | $3,300,000 | $275,000 | -91.7% | 0.1% |
| First Savings Bank | $275,000 | n/a | 0.1% | |
| THE MORTGAGE FIRM, INC. | $275,000 | n/a | 0.1% | |
| FBC MORTGAGE, LLC | $265,000 | n/a | 0.1% | |
| Hancock Whitney Bank | $605,000 | $255,000 | -57.9% | 0.1% |
| EMBRACE HOME LOANS, INC. | $245,000 | n/a | 0.1% | |
| AMERICA'S FIRST | $55,000 | $235,000 | 327.3% | 0.1% |
| PLANET HOME LENDING, LLC | $265,000 | $235,000 | -11.3% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $390,000 | $220,000 | -43.6% | 0.1% |
| Bank of America | $4,305,000 | $215,000 | -95.0% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $695,000 | $210,000 | -69.8% | 0.1% |
| AUBURN UNIVERSITY CREDIT UNION | $395,000 | $205,000 | -48.1% | 0.1% |
| LONGBRIDGE FINANCIAL, LLC | $1,295,000 | $195,000 | -84.9% | 0.1% |
| AMERICAN FINANCING CORPORATION | $185,000 | n/a | 0.1% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $185,000 | n/a | 0.1% | |
| North American Savings Bank, F.S.B. | $185,000 | n/a | 0.1% | |
| 1ST SIGNATURE LENDING, LLC | $205,000 | $175,000 | -14.6% | 0.1% |
| AMERICAN ADVISORS GROUP | $175,000 | n/a | 0.1% | |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $325,000 | $175,000 | -46.2% | 0.1% |
| LEADERONE FINANCIAL CORPORATION | $170,000 | n/a | 0.0% | |
| Capital City Bank | $160,000 | n/a | 0.0% | |
| Discover Bank | $35,000 | $160,000 | 357.1% | 0.0% |
| CONTOUR MORTGAGE CORPORATION | $365,000 | $155,000 | -57.5% | 0.0% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $105,000 | $155,000 | 47.6% | 0.0% |
| CSL Financial, LLC | $195,000 | $150,000 | -23.1% | 0.0% |
| PHH Mortgage Corporation | $150,000 | n/a | 0.0% | |
| Southern States Bank | $65,000 | $150,000 | 130.8% | 0.0% |
| AmeriHome Mortgage Company, LLC | $145,000 | n/a | 0.0% | |
| Barrington Bank & Trust Company, N.A. | $750,000 | $135,000 | -82.0% | 0.0% |
| HOMETRUST MORTGAGE COMPANY | $650,000 | $135,000 | -79.2% | 0.0% |
| IMPAC MORTGAGE CORP. | $135,000 | n/a | 0.0% | |
| DHI MORTGAGE COMPANY, LTD. | $125,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $120,000 | n/a | 0.0% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $860,000 | $115,000 | -86.6% | 0.0% |
| SmartBank | $115,000 | n/a | 0.0% | |
| DELTA COMMUNITY CREDIT UNION | $1,515,000 | $95,000 | -93.7% | 0.0% |
| HONDA Federal Credit Union | $135,000 | $95,000 | -29.6% | 0.0% |
| LENDINGHOME FUNDING CORPORATION | $95,000 | n/a | 0.0% | |
| Metro City Bank | $95,000 | n/a | 0.0% | |
| MID AMERICA MORTGAGE, INC. | $95,000 | n/a | 0.0% | |
| NATIONS RELIABLE LENDING, LLC | $170,000 | $85,000 | -50.0% | 0.0% |
| Neighborhood Loans, Inc. | $85,000 | n/a | 0.0% | |
| ROYAL UNITED MORTGAGE LLC | $500,000 | $85,000 | -83.0% | 0.0% |
| Traditions Bank | $85,000 | n/a | 0.0% | |
| LAKEVIEW LOAN SERVICING, LLC | $2,260,000 | $75,000 | -96.7% | 0.0% |
| NETWORK CAPITAL FUNDING CORPORATION | $75,000 | n/a | 0.0% | |
| FINANCE OF AMERICA MORTGAGE LLC | $65,000 | n/a | 0.0% | |
| ALABAMA TEACHERS | $35,000 | n/a | 0.0% | |
| REDSTONE Federal Credit Union | $220,000 | $35,000 | -84.1% | 0.0% |
| CHERRY CREEK MORTGAGE, LLC | $25,000 | n/a | 0.0% | |
| Figure Lending LLC | $45,000 | $25,000 | -44.4% | 0.0% |
| 1st Franklin Financial Corporation | $255,000 | $15,000 | -94.1% | 0.0% |
Alexander City's top lender by overall market share is River Bank & Trust, with 12.9% market share. In second place, with 10.7%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $36,985,000 in loans. In third place, with 5.7%, is Regions Bank, having originated $19,540,000 in loans. In fourth place, with 5.1%, is South State Bank, having originated $17,490,000 in loans. In fifth place, with 3.4%, is QUICKEN LOANS, LLC, having originated $11,830,000 in loans.
Alexander City, AL Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 692 | $220,020,000 | $317,948 |
| Cash Out Refi | 200 | $45,040,000 | $225,200 |
| Refi | 169 | $48,525,000 | $287,130 |
| Other | 93 | $20,415,000 | $219,516 |
| Home Improvement | 71 | $10,405,000 | $146,549 |
Alexander City's most frequently cited loan purpose was Home Purchase, with 692 originations. The 2nd most popular reason was Cash Out Refi, with 200 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 290 | $100,010,000 | $344,862 |
| 5-6% | 276 | $73,960,000 | $267,971 |
| 3-4% | 274 | $92,120,000 | $336,204 |
| 6-7% | 128 | $25,970,000 | $202,891 |
| 7-8% | 65 | $9,485,000 | $145,923 |
| 2.5-3% | 64 | $18,140,000 | $283,438 |
| Over 8% | 51 | $4,935,000 | $96,765 |
| <2.5% | 24 | $5,900,000 | $245,833 |
During 2022, Alexander City's most frequently originated rate bucket was 4-5%, with 290 originations.
Loan Sizing (Alexander City, AL MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 388 | $56,440,000 | $145,464 |
| $200k-400k | 303 | $85,625,000 | $282,591 |
| $100,000 or less | 298 | $19,080,000 | $64,027 |
| $600k-1000k | 100 | $73,480,000 | $734,800 |
| $400k-600k | 95 | $46,365,000 | $488,053 |
| $Over $1MM | 41 | $63,415,000 | $1,546,707 |
Alexander City's loan sizing saw the bucket of loans from $100k-200k with 388 originations, totaling $56,440,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 478 | $123,000,000 | $257,322 |
| 60-80% | 318 | $121,960,000 | $383,522 |
| 40-60% | 136 | $44,340,000 | $326,029 |
| 20-40% | 118 | $26,080,000 | $221,017 |
| Under 20% | 95 | $7,705,000 | $81,105 |
| Over 100% | 17 | $4,425,000 | $260,294 |
Alexander City's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 478 originations, totaling $123,000,000 in origination value.