BECKLEY Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Beckley averaged
6.21%
for the week of 2024-10-10, compared to the national average of
6.32% for the same period.
The average rate for the prior week (2024-10-03) was
6.11% and
one month ago for the week of 2024-09-05, the
average rate was 6.14%.
Beckley's average rate one year ago was 7.18%.
For refis of the same type during the week of 2024-10-10, the average rate
was 7.04%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-10-10 | 6.32% |
| Beckley 30 Year Fixed Rate | 2024-10-10 | 6.21% |
| Beckley 30 Year Fixed Rate Refi | 2024-10-10 | 7.04% |
| Beckley 15 Year Fixed Rate | 2024-10-10 | 5.31% |
| Beckley 15 Year Fixed Rate Refi | 2024-10-10 | 5.31% |
| Beckley 30 Year FHA | 2024-10-10 | 5.8% |
| Beckley 30 Year FHA Refi | 2024-10-10 | 6.1% |
| Beckley 30 Year USDA | 2024-10-10 | 6.24% |
| Beckley 30 Year USDA Refi | 2024-10-10 | 5.98% |
| Beckley 30 Year VA | 2024-10-10 | 5.99% |
| Beckley 30 Year VA Refi | 2024-10-10 | 5.85% |
BECKLEY 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 BECKLEY, WV 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.).
BECKLEY Average Closing Costs & Other Stats
BECKLEY, WV's 51 lenders originated 1,415
loans during 2023. The total origination value was $192,145,000, with an average loan value of
$135,792.
BECKLEY's average closing costs are $4,246.
The top BECKLEY lender as defined by loan originations is City National Bank of West Virginia, with
80 loans originated. Their average total fees are
$1,049, which is $2,477
lower than the next largest lender,
The Huntington National Bank.
The lowest fee BECKLEY lenders (with over 10 loans originated) are
City National Bank of West Virginia ($1,049), First Community Bank ($3,124), Summit Community Bank, Inc. ($3,211), United Bank ($3,520) and The Huntington National Bank ($3,525).
The lowest rate BECKLEY lenders (with over 10 loans originated) are
City National Bank of West Virginia (6.11%), The Huntington National Bank (6.26%), United Bank (6.39%), Truist (6.45%) and JPMorgan Chase Bank (6.67%).
BECKLEY, WV 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 |
|---|---|---|---|---|
| City National Bank of West Virginia | $28,250,000 | $27,570,000 | -2.4% | 14.3% |
| The Huntington National Bank | $19,680,000 | $17,740,000 | -9.9% | 9.2% |
| QUICKEN LOANS, LLC | $26,010,000 | $17,645,000 | -32.2% | 9.2% |
| MOVEMENT MORTGAGE, LLC | $20,625,000 | $15,320,000 | -25.7% | 8.0% |
| Truist | $10,775,000 | $11,525,000 | 7.0% | 6.0% |
| Mortgage Research Center, LLC | $7,155,000 | $6,985,000 | -2.4% | 3.6% |
| Fayette County National Bank | $9,400,000 | $6,865,000 | -27.0% | 3.6% |
| First Community Bank | $16,310,000 | $6,535,000 | -59.9% | 3.4% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $3,675,000 | $4,880,000 | 32.8% | 2.5% |
| Mars Bank | $2,840,000 | $4,800,000 | 69.0% | 2.5% |
| LOANDEPOT.COM, LLC | $8,495,000 | $4,785,000 | -43.7% | 2.5% |
| United Bank | $7,765,000 | $4,045,000 | -47.9% | 2.1% |
| U.S. Bank | $1,710,000 | $3,920,000 | 129.2% | 2.0% |
| Pendleton Community Bank, Inc. | $10,535,000 | $3,815,000 | -63.8% | 2.0% |
| Summit Community Bank, Inc. | $3,565,000 | $3,685,000 | 3.4% | 1.9% |
| Alcova Mortgage LLC | $1,515,000 | $3,640,000 | 140.3% | 1.9% |
| MCNB Bank and Trust Co. | $3,215,000 | $2,595,000 | -19.3% | 1.4% |
| JPMorgan Chase Bank | $7,730,000 | $2,490,000 | -67.8% | 1.3% |
| Whitesville State Bank | $2,340,000 | n/a | 1.2% | |
| T2 FINANCIAL LLC | $395,000 | $2,335,000 | 491.1% | 1.2% |
| AMERISAVE MORTGAGE CORPORATION | $3,190,000 | $2,135,000 | -33.1% | 1.1% |
| BROKER SOLUTIONS, INC. | $1,825,000 | $1,985,000 | 8.8% | 1.0% |
| Atlantic Union Bank | $515,000 | $1,760,000 | 241.7% | 0.9% |
| NAVY FEDERAL CREDIT UNION | $1,095,000 | $1,705,000 | 55.7% | 0.9% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $9,950,000 | $1,700,000 | -82.9% | 0.9% |
| Victorian Finance, LLC | $1,115,000 | $1,575,000 | 41.3% | 0.8% |
| USAA Federal Savings Bank | $2,910,000 | $1,490,000 | -48.8% | 0.8% |
| UNITED WHOLESALE MORTGAGE, LLC | $435,000 | $1,420,000 | 226.4% | 0.7% |
| PNC Bank | $855,000 | $1,240,000 | 45.0% | 0.6% |
| 21ST MORTGAGE CORPORATION | $1,840,000 | $1,100,000 | -40.2% | 0.6% |
| Mr. Cooper ( Nationstar Mortgage ) | $1,590,000 | $965,000 | -39.3% | 0.5% |
| WesBanco | $25,000 | $840,000 | 3,260.0% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $1,185,000 | $805,000 | -32.1% | 0.4% |
| PENNYMAC LOAN SERVICES, LLC | $1,260,000 | $730,000 | -42.1% | 0.4% |
| Virginia Partners Bank | $675,000 | n/a | 0.4% | |
| Morgan Stanley Private Bank | $880,000 | $645,000 | -26.7% | 0.3% |
| ZILLOW HOME LOANS, LLC | $625,000 | n/a | 0.3% | |
| CROSSCOUNTRY MORTGAGE, LLC | $3,480,000 | $615,000 | -82.3% | 0.3% |
| The Central Trust Bank | $600,000 | n/a | 0.3% | |
| Clay County Bank, Inc. | $150,000 | $575,000 | 283.3% | 0.3% |
| Community Trust Bank, Inc. | $200,000 | $560,000 | 180.0% | 0.3% |
| CARDINAL FINANCIAL | $290,000 | $555,000 | 91.4% | 0.3% |
| CNB Bank Inc. | $525,000 | n/a | 0.3% | |
| NFM, INC. | $505,000 | n/a | 0.3% | |
| NEWREZ LLC | $240,000 | $500,000 | 108.3% | 0.3% |
| Bank of America | $470,000 | $470,000 | 0.0% | 0.2% |
| Gateway First Bank | $3,110,000 | $470,000 | -84.9% | 0.2% |
| Blue Ridge Bank | $135,000 | $460,000 | 240.7% | 0.2% |
| BETTER MORTGAGE CORPORATION | $125,000 | $440,000 | 252.0% | 0.2% |
| MYCUMORTGAGE, LLC | $410,000 | n/a | 0.2% | |
| Plains Commerce Bank | $385,000 | n/a | 0.2% | |
| STAR USA FEDERAL CREDIT UNION | $180,000 | $380,000 | 111.1% | 0.2% |
| Community First National Bank | $275,000 | $360,000 | 30.9% | 0.2% |
| AmeriHome Mortgage Company, LLC | $355,000 | n/a | 0.2% | |
| ROYAL UNITED MORTGAGE LLC | $415,000 | $345,000 | -16.9% | 0.2% |
| GUARANTEED RATE, INC. | $315,000 | n/a | 0.2% | |
| BAYER HERITAGE | $285,000 | $305,000 | 7.0% | 0.2% |
| The Poca Valley Bank, Inc. | $270,000 | n/a | 0.1% | |
| Carrington Mortgage Services, LLC | $1,515,000 | $265,000 | -82.5% | 0.1% |
| INTERCOASTAL MORTGAGE COMPANY | $245,000 | n/a | 0.1% | |
| CHURCHILL MORTGAGE CORPORATION | $150,000 | $240,000 | 60.0% | 0.1% |
| Ameris Bank | $235,000 | n/a | 0.1% | |
| Fifth Third Bank | $830,000 | $225,000 | -72.9% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $780,000 | $220,000 | -71.8% | 0.1% |
| LIMA ONE CAPITAL, LLC | $115,000 | $215,000 | 87.0% | 0.1% |
| Northpointe Bank | $215,000 | n/a | 0.1% | |
| Stifel Bank and Trust | $215,000 | n/a | 0.1% | |
| First Reliance Bank | $210,000 | n/a | 0.1% | |
| First United Corporation | $205,000 | n/a | 0.1% | |
| THE STATE CREDIT UNION | $205,000 | n/a | 0.1% | |
| Citizens Bank | $835,000 | $185,000 | -77.8% | 0.1% |
| F & M BANK CORP. | $185,000 | n/a | 0.1% | |
| Discover Bank | $190,000 | $180,000 | -5.3% | 0.1% |
| Paramount Residential Mortgage Group, Inc. | $180,000 | n/a | 0.1% | |
| Sierra Pacific Mortgage Company, Inc. | $175,000 | n/a | 0.1% | |
| PLANET HOME LENDING, LLC | $170,000 | n/a | 0.1% | |
| C & F Mortgage Corporation | $165,000 | n/a | 0.1% | |
| EMM LOANS LLC | $155,000 | n/a | 0.1% | |
| SOUTHWEST STAGE FUNDING, LLC | $155,000 | n/a | 0.1% | |
| STANFORD Federal Credit Union | $155,000 | n/a | 0.1% | |
| AMERICAN FINANCIAL NETWORK, INC. | $140,000 | n/a | 0.1% | |
| CRESCENT MORTGAGE COMPANY | $135,000 | n/a | 0.1% | |
| FIRST COLONY MORTGAGE CORPORATION | $135,000 | n/a | 0.1% | |
| HOMEXPRESS MORTGAGE CORP. | $135,000 | n/a | 0.1% | |
| HOMESPIRE MORTGAGE CORPORATION | $125,000 | n/a | 0.1% | |
| LAKEVIEW LOAN SERVICING, LLC | $345,000 | $125,000 | -63.8% | 0.1% |
| ON Q FINANCIAL, INC. | $125,000 | n/a | 0.1% | |
| Peoples Bank | $275,000 | $125,000 | -54.5% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $170,000 | $115,000 | -32.4% | 0.1% |
| SUCCESS MORTGAGE PARTNERS, INC. | $115,000 | n/a | 0.1% | |
| DOMINION FINANCIAL SERVICES, LLC | $105,000 | n/a | 0.1% | |
| ASHLAND Credit Union | $320,000 | $100,000 | -68.8% | 0.1% |
| FIRST COMMUNITY MORTGAGE, INC. | $95,000 | n/a | 0.0% | |
| The Federal Savings Bank | $245,000 | $95,000 | -61.2% | 0.0% |
| TRIAD FINANCIAL SERVICES, INC. | $95,000 | n/a | 0.0% | |
| Ally Bank | $75,000 | n/a | 0.0% | |
| M&T Bank | $85,000 | $70,000 | -17.6% | 0.0% |
| AMERICAN FINANCIAL RESOURCES, INC. | $65,000 | n/a | 0.0% | |
| DEPARTMENT OF THE INTERIOR FEDERAL CREDIT UNION | $75,000 | $55,000 | -26.7% | 0.0% |
| DRAPER AND KRAMER MORTGAGE CORP. | $195,000 | $55,000 | -71.8% | 0.0% |
| LONGBRIDGE FINANCIAL, LLC | $55,000 | n/a | 0.0% | |
| Signature Federal Credit Union | $55,000 | n/a | 0.0% | |
| TENNESSEE VALLEY | $55,000 | n/a | 0.0% | |
| MidFirst Bank | $25,000 | n/a | 0.0% | |
| EASTMAN | $285,000 | $15,000 | -94.7% | 0.0% |
BECKLEY's top lender by overall market share is City National Bank of West Virginia, with 14.3% market share. In second place, with 9.2%, is The Huntington National Bank, having originated $17,740,000 in loans. In third place, with 9.2%, is QUICKEN LOANS, LLC, having originated $17,645,000 in loans. In fourth place, with 8.0%, is MOVEMENT MORTGAGE, LLC, having originated $15,320,000 in loans. In fifth place, with 6.0%, is Truist, having originated $11,525,000 in loans.
BECKLEY, WV Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 837 | $133,535,000 | $159,540 |
| Refi | 183 | $21,925,000 | $119,809 |
| Cash Out Refi | 138 | $18,680,000 | $135,362 |
| Home Improvement | 131 | $8,615,000 | $65,763 |
| Other | 124 | $9,290,000 | $74,919 |
| NA | 2 | $100,000 | $50,000 |
Beckley's most frequently cited loan purpose was Home Purchase, with 837 originations. The 2nd most popular reason was Refi, with 183 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 485 | $67,365,000 | $138,897 |
| 7-8% | 270 | $42,920,000 | $158,963 |
| 5-6% | 243 | $37,405,000 | $153,930 |
| Over 8% | 172 | $15,910,000 | $92,500 |
| 2.5-3% | 35 | $2,915,000 | $83,286 |
| 4-5% | 15 | $2,595,000 | $173,000 |
| <2.5% | 12 | $830,000 | $69,167 |
| 3-4% | 1 | $65,000 | $65,000 |
During 2023, Beckley's most frequently originated rate bucket was 6-7%, with 485 originations.
Loan Sizing (BECKLEY, WV MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 620 | $36,020,000 | $58,097 |
| $100k-200k | 532 | $75,330,000 | $141,598 |
| $200k-400k | 220 | $57,300,000 | $260,455 |
| $400k-600k | 34 | $16,130,000 | $474,412 |
| $600k-1000k | 8 | $5,360,000 | $670,000 |
| $Over $1MM | 1 | $2,005,000 | $2,005,000 |
BECKLEY's loan sizing saw the bucket of loans from $100,000 or less with 620 originations, totaling $36,020,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 648 | $107,750,000 | $166,281 |
| 60-80% | 220 | $31,770,000 | $144,409 |
| 20-40% | 132 | $8,850,000 | $67,045 |
| 40-60% | 114 | $12,740,000 | $111,754 |
| Under 20% | 103 | $3,535,000 | $34,320 |
| Over 100% | 11 | $2,975,000 | $270,455 |
BECKLEY's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 648 originations, totaling $107,750,000 in origination value.