Auburn Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Auburn averaged
7.07%
for the week of 2024-07-18, compared to the national average of
6.77% for the same period.
The average rate for the prior week (2024-07-11) was
6.89% and
one month ago for the week of 2024-06-13, the
average rate was 7.25%.
Auburn's average rate one year ago was 7.06%.
For refis of the same type during the week of 2024-07-18, the average rate
was 6.97%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-07-18 | 6.77% |
| Auburn 30 Year Fixed Rate | 2024-07-18 | 7.07% |
| Auburn 30 Year Fixed Rate Refi | 2024-07-18 | 6.97% |
| Auburn 15 Year Fixed Rate | 2024-07-18 | 5.85% |
| Auburn 15 Year Fixed Rate Refi | 2024-07-18 | 6.25% |
| Auburn 30 Year FHA | 2024-07-18 | 7.07% |
| Auburn 30 Year FHA Refi | 2024-07-18 | 6.59% |
| Auburn 30 Year USDA | 2024-07-18 | 6.63% |
| Auburn 30 Year USDA Refi | 2024-07-18 | 6.63% |
| Auburn 30 Year VA | 2024-07-18 | 6.2% |
| Auburn 30 Year VA Refi | 2024-07-18 | 6.4% |
Auburn 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 Auburn, IN 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.).
Auburn Average Closing Costs & Other Stats
Auburn, IN's 57 lenders originated 1,014
loans during 2023. The total origination value was $153,830,000, with an average loan value of
$151,706.
Auburn's average closing costs are $3,547.
The top Auburn lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with
57 loans originated. Their average total fees are
$3,559, which is $903
higher than the next largest lender,
Three Rivers Federal Credit Union.
The lowest fee Auburn lenders (with over 10 loans originated) are
ProFed Federal Credit Union ($2,264), Horizon Bank ($2,430), Three Rivers Federal Credit Union ($2,656), RUOFF MORTGAGE COMPANY, INC. ($3,559) and GVC MORTGAGE, INC. ($4,384).
The lowest rate Auburn lenders (with over 10 loans originated) are
ProFed Federal Credit Union (6.30%), QUICKEN LOANS, LLC (6.73%), HALLMARK HOME MORTGAGE, LLC (6.94%), RUOFF MORTGAGE COMPANY, INC. (6.99%) and Three Rivers Federal Credit Union (7.07%).
Auburn, IN 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 |
|---|---|---|---|---|
| RUOFF MORTGAGE COMPANY, INC. | $28,650,000 | $20,360,000 | -28.9% | 13.2% |
| Three Rivers Federal Credit Union | $27,345,000 | $14,960,000 | -45.3% | 9.7% |
| GVC MORTGAGE, INC. | $9,120,000 | $10,455,000 | 14.6% | 6.8% |
| The Garrett State Bank | $10,565,000 | $8,790,000 | -16.8% | 5.7% |
| HALLMARK HOME MORTGAGE, LLC | $5,615,000 | $5,715,000 | 1.8% | 3.7% |
| Horizon Bank | $5,715,000 | $5,495,000 | -3.8% | 3.6% |
| QUICKEN LOANS, LLC | $7,390,000 | $4,310,000 | -41.7% | 2.8% |
| BEACON CREDIT UNION | $2,820,000 | $3,895,000 | 38.1% | 2.5% |
| ProFed Federal Credit Union | $8,720,000 | $3,575,000 | -59.0% | 2.3% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $650,000 | $3,275,000 | 403.8% | 2.1% |
| VAN DYK MORTGAGE CORPORATION | $1,860,000 | $2,885,000 | 55.1% | 1.9% |
| The Farmers & Merchants State Bank | $3,205,000 | $2,760,000 | -13.9% | 1.8% |
| Fifth Third Bank | $3,925,000 | $2,690,000 | -31.5% | 1.7% |
| STAR Financial Bank | $1,010,000 | $2,660,000 | 163.4% | 1.7% |
| PNC Bank | $4,415,000 | $2,625,000 | -40.5% | 1.7% |
| 1st Source Bank | $1,660,000 | $2,525,000 | 52.1% | 1.6% |
| The Campbell & Fetter Bank | $2,460,000 | $2,300,000 | -6.5% | 1.5% |
| TEACHERS CREDIT UNION | $4,600,000 | $2,275,000 | -50.5% | 1.5% |
| Flagstar Bank, FSB | $6,830,000 | $2,200,000 | -67.8% | 1.4% |
| Lake City Bank | $2,700,000 | $2,165,000 | -19.8% | 1.4% |
| FORT FINANCIAL Federal Credit Union | $2,545,000 | $1,990,000 | -21.8% | 1.3% |
| Farm Credit Mid-America, ACA | $900,000 | $1,925,000 | 113.9% | 1.3% |
| Mortgage Research Center, LLC | $2,850,000 | $1,920,000 | -32.6% | 1.2% |
| Farmers and Merchants Bank | $1,275,000 | $1,855,000 | 45.5% | 1.2% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,855,000 | n/a | 1.2% | |
| ACADEMY MORTGAGE CORPORATION | $1,355,000 | $1,725,000 | 27.3% | 1.1% |
| PENNYMAC LOAN SERVICES, LLC | $880,000 | $1,645,000 | 86.9% | 1.1% |
| DIAMOND RESIDENTIAL MORTGAGE CORPORATION | $1,055,000 | $1,485,000 | 40.8% | 1.0% |
| The State Bank and Trust Company | $4,415,000 | $1,455,000 | -67.0% | 0.9% |
| LOANDEPOT.COM, LLC | $2,285,000 | $1,430,000 | -37.4% | 0.9% |
| First Merchants Bank | $3,740,000 | $1,420,000 | -62.0% | 0.9% |
| JPMorgan Chase Bank | $2,855,000 | $1,275,000 | -55.3% | 0.8% |
| NEW DAY FINANCIAL, LLC | $540,000 | $1,210,000 | 124.1% | 0.8% |
| Union Savings Bank | $2,400,000 | $1,110,000 | -53.8% | 0.7% |
| Farmers State Bank | $1,495,000 | $1,100,000 | -26.4% | 0.7% |
| POLARIS HOME FUNDING CORP. | $1,025,000 | $1,015,000 | -1.0% | 0.7% |
| Mr. Cooper ( Nationstar Mortgage ) | $1,370,000 | $1,010,000 | -26.3% | 0.7% |
| STOCKTON MORTGAGE CORPORATION | $995,000 | n/a | 0.6% | |
| FREEDOM MORTGAGE CORPORATION | $1,765,000 | $965,000 | -45.3% | 0.6% |
| GENEVA FINANCIAL, LLC | $860,000 | $960,000 | 11.6% | 0.6% |
| PARTNERS 1ST Federal Credit Union | $1,785,000 | $945,000 | -47.1% | 0.6% |
| MICHIGAN MUTUAL, INC. | $725,000 | $855,000 | 17.9% | 0.6% |
| PLAZA HOME MORTGAGE, INC. | $855,000 | n/a | 0.6% | |
| NEWREZ LLC | $830,000 | $805,000 | -3.0% | 0.5% |
| First Federal Savings Bank | $75,000 | $745,000 | 893.3% | 0.5% |
| MIDWEST AMERICA | $1,535,000 | $690,000 | -55.0% | 0.4% |
| Barrington Bank & Trust Company, N.A. | $665,000 | n/a | 0.4% | |
| V.I.P. MORTGAGE, INC. | $3,035,000 | $635,000 | -79.1% | 0.4% |
| Nations Lending Corporation | $790,000 | $625,000 | -20.9% | 0.4% |
| The Huntington National Bank | $1,420,000 | $605,000 | -57.4% | 0.4% |
| First Financial Bank | $560,000 | n/a | 0.4% | |
| CROSSCOUNTRY MORTGAGE, LLC | $2,110,000 | $505,000 | -76.1% | 0.3% |
| Old National Bank | $490,000 | $485,000 | -1.0% | 0.3% |
| MOVEMENT MORTGAGE, LLC | $455,000 | n/a | 0.3% | |
| ZILLOW HOME LOANS, LLC | $750,000 | $445,000 | -40.7% | 0.3% |
| AMERISAVE MORTGAGE CORPORATION | $810,000 | $435,000 | -46.3% | 0.3% |
| Paramount Residential Mortgage Group, Inc. | $155,000 | $435,000 | 180.6% | 0.3% |
| ROYAL UNITED MORTGAGE LLC | $1,105,000 | $425,000 | -61.5% | 0.3% |
| Discover Bank | $150,000 | $380,000 | 153.3% | 0.2% |
| UNION HOME MORTGAGE CORP. | $1,170,000 | $340,000 | -70.9% | 0.2% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $445,000 | $335,000 | -24.7% | 0.2% |
| First State Bank of Forrest | $315,000 | n/a | 0.2% | |
| Wells Fargo Bank | $555,000 | $300,000 | -45.9% | 0.2% |
| INTERRA CREDIT UNION | $510,000 | $295,000 | -42.2% | 0.2% |
| GUARANTEED RATE, INC. | $275,000 | $285,000 | 3.6% | 0.2% |
| First Federal Savings Bank | $75,000 | $245,000 | 226.7% | 0.2% |
| First Financial Bank | $235,000 | n/a | 0.2% | |
| Raymond James Bank | $235,000 | n/a | 0.2% | |
| Figure Lending LLC | $355,000 | $230,000 | -35.2% | 0.1% |
| NAVY FEDERAL CREDIT UNION | $15,000 | $225,000 | 1,400.0% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $225,000 | n/a | 0.1% | |
| Regions Bank | $205,000 | n/a | 0.1% | |
| FINANCE OF AMERICA REVERSE LLC | $200,000 | n/a | 0.1% | |
| USAA Federal Savings Bank | $175,000 | $195,000 | 11.4% | 0.1% |
| Carrington Mortgage Services, LLC | $780,000 | $190,000 | -75.6% | 0.1% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $460,000 | $190,000 | -58.7% | 0.1% |
| M&T Bank | $185,000 | n/a | 0.1% | |
| Bank of America | $150,000 | n/a | 0.1% | |
| BROKER SOLUTIONS, INC. | $410,000 | $145,000 | -64.6% | 0.1% |
| MJW Financial LLC | $125,000 | $145,000 | 16.0% | 0.1% |
| CALIBER HOME LOANS, INC. | $895,000 | $135,000 | -84.9% | 0.1% |
| GREENSTATE CREDIT UNION | $335,000 | $125,000 | -62.7% | 0.1% |
| ENDEAVOR CAPITAL, LLC. | $340,000 | $115,000 | -66.2% | 0.1% |
| LOANPAL, LLC | $115,000 | n/a | 0.1% | |
| RELIANCE FIRST CAPITAL, LLC | $115,000 | n/a | 0.1% | |
| Equity Prime Mortgage LLC | $85,000 | n/a | 0.1% | |
| Notre Dame Federal Credit Union Corporation | $85,000 | n/a | 0.1% | |
| SPRING EQ, LLC | $25,000 | $80,000 | 220.0% | 0.1% |
| Citizens Bank | $75,000 | $75,000 | 0.0% | 0.0% |
| Connexus Credit Union | $75,000 | n/a | 0.0% | |
| Third Federal Savings and Loan Association of Cleveland | $245,000 | $55,000 | -77.6% | 0.0% |
| U.S. Bank | $55,000 | $55,000 | 0.0% | 0.0% |
| PLANET HOME LENDING, LLC | $345,000 | $45,000 | -87.0% | 0.0% |
| Park Lane Finance Solutions, LLC | $275,000 | $25,000 | -90.9% | 0.0% |
| Centier Bank | $15,000 | n/a | 0.0% | |
| Deere Employees Credit Union | $15,000 | n/a | 0.0% |
Auburn's top lender by overall market share is RUOFF MORTGAGE COMPANY, INC., with 13.2% market share. In second place, with 9.7%, is Three Rivers Federal Credit Union, having originated $14,960,000 in loans. In third place, with 6.8%, is GVC MORTGAGE, INC., having originated $10,455,000 in loans. In fourth place, with 5.7%, is The Garrett State Bank, having originated $8,790,000 in loans. In fifth place, with 3.7%, is HALLMARK HOME MORTGAGE, LLC, having originated $5,715,000 in loans.
Auburn, IN Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 551 | $110,065,000 | $199,755 |
| Cash Out Refi | 135 | $17,495,000 | $129,593 |
| Other | 128 | $7,390,000 | $57,734 |
| Refi | 103 | $12,445,000 | $120,825 |
| Home Improvement | 97 | $6,435,000 | $66,340 |
Auburn's most frequently cited loan purpose was Home Purchase, with 551 originations. The 2nd most popular reason was Cash Out Refi, with 135 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 306 | $55,500,000 | $181,373 |
| 6-7% | 302 | $54,720,000 | $181,192 |
| Over 8% | 211 | $15,875,000 | $75,237 |
| 5-6% | 69 | $12,335,000 | $178,768 |
| <2.5% | 16 | $170,000 | $10,625 |
| 4-5% | 4 | $560,000 | $140,000 |
| 3-4% | 1 | $165,000 | $165,000 |
| 2.5-3% | 1 | $125,000 | $125,000 |
During 2023, Auburn's most frequently originated rate bucket was 7-8%, with 306 originations.
Loan Sizing (Auburn, IN MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 376 | $54,470,000 | $144,867 |
| $100,000 or less | 364 | $18,510,000 | $50,852 |
| $200k-400k | 236 | $61,320,000 | $259,831 |
| $400k-600k | 30 | $14,090,000 | $469,667 |
| $600k-1000k | 8 | $5,440,000 | $680,000 |
Auburn's loan sizing saw the bucket of loans from $100k-200k with 376 originations, totaling $54,470,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 375 | $78,255,000 | $208,680 |
| 60-80% | 177 | $33,245,000 | $187,825 |
| 20-40% | 143 | $11,945,000 | $83,531 |
| Under 20% | 138 | $4,510,000 | $32,681 |
| 40-60% | 70 | $9,360,000 | $133,714 |
| Over 100% | 7 | $1,985,000 | $283,571 |
Auburn's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 375 originations, totaling $78,255,000 in origination value.