Bennettsville Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Bennettsville averaged
7.08%
for the week of 2023-09-14, compared to the national average of
7.18% for the same period.
The average rate for the prior week (2023-09-07) was
7.22% and
one month ago for the week of 2023-08-10, the
average rate was 7.06%.
Bennettsville's average rate one year ago was 6.09%.
For refis of the same type during the week of 2023-09-14, the average rate
was 7.28%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-09-14 | 7.18% |
| Bennettsville 30 Year Fixed Rate | 2023-09-14 | 7.08% |
| Bennettsville 30 Year Fixed Rate Refi | 2023-09-14 | 7.28% |
| Bennettsville 15 Year Fixed Rate | 2023-09-14 | 6.71% |
| Bennettsville 15 Year Fixed Rate Refi | 2023-09-14 | 6.51% |
| Bennettsville 30 Year FHA | 2023-09-14 | 6.99% |
| Bennettsville 30 Year FHA Refi | 2023-09-14 | 6.79% |
| Bennettsville 30 Year USDA | 2023-09-14 | 7.18% |
| Bennettsville 30 Year USDA Refi | 2023-09-14 | 7.08% |
| Bennettsville 30 Year VA | 2023-09-14 | 6.81% |
| Bennettsville 30 Year VA Refi | 2023-09-14 | 6.71% |
Bennettsville 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 Bennettsville, SC 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.).
Bennettsville Average Closing Costs & Other Stats
Bennettsville, SC's 27 lenders originated 192
loans during 2022. The total origination value was $26,680,000, with an average loan value of
$138,958.
Bennettsville's average closing costs are $4,461.
The top Bennettsville lender as defined by loan originations is First-Citizens Bank & Trust Company, with
5 loans originated. Their average total fees are
$4,156, which is $1,818
higher than the next largest lender,
FOUNDERS FEDERAL CREDIT UNION.
The lowest fee Bennettsville lenders (with over 10 loans originated) are
.
The lowest rate Bennettsville lenders (with over 10 loans originated) are
.
Bennettsville, SC 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 |
|---|---|---|---|---|
| GREYSTONE SERVICING COMPANY LLC | $3,505,000 | n/a | 13.1% | |
| 21ST MORTGAGE CORPORATION | $2,725,000 | $3,140,000 | 15.2% | 11.8% |
| First-Citizens Bank & Trust Company | $3,055,000 | $2,255,000 | -26.2% | 8.5% |
| QUICKEN LOANS, LLC | $2,545,000 | $1,400,000 | -45.0% | 5.2% |
| Mortgage Research Center, LLC | $575,000 | $985,000 | 71.3% | 3.7% |
| FOUNDERS FEDERAL CREDIT UNION | $1,285,000 | $945,000 | -26.5% | 3.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $2,785,000 | $925,000 | -66.8% | 3.5% |
| First Bank | $330,000 | $755,000 | 128.8% | 2.8% |
| INTERCOASTAL MORTGAGE COMPANY | $175,000 | $685,000 | 291.4% | 2.6% |
| TRIAD FINANCIAL SERVICES, INC. | $440,000 | $665,000 | 51.1% | 2.5% |
| North American Savings Bank, F.S.B. | $610,000 | n/a | 2.3% | |
| LOANDEPOT.COM, LLC | $235,000 | $570,000 | 142.6% | 2.1% |
| CROSSCOUNTRY MORTGAGE, LLC | $480,000 | n/a | 1.8% | |
| Wells Fargo Bank | $3,440,000 | $475,000 | -86.2% | 1.8% |
| SOUTHWEST STAGE FUNDING, LLC | $325,000 | $470,000 | 44.6% | 1.8% |
| UNITED WHOLESALE MORTGAGE, LLC | $225,000 | $455,000 | 102.2% | 1.7% |
| Carolina Bank & Trust | $1,400,000 | $420,000 | -70.0% | 1.6% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $1,040,000 | $410,000 | -60.6% | 1.5% |
| SPC Credit Union | $355,000 | $385,000 | 8.5% | 1.4% |
| BROKER SOLUTIONS, INC. | $345,000 | n/a | 1.3% | |
| MOVEMENT MORTGAGE, LLC | $155,000 | $330,000 | 112.9% | 1.2% |
| STATE EMPLOYEES' | $595,000 | $320,000 | -46.2% | 1.2% |
| Carrington Mortgage Services, LLC | $290,000 | n/a | 1.1% | |
| FREEDOM MORTGAGE CORPORATION | $1,525,000 | $290,000 | -81.0% | 1.1% |
| Ameris Bank | $255,000 | n/a | 1.0% | |
| S. C. STATE FEDERAL CREDIT UNION | $250,000 | n/a | 0.9% | |
| CALIBER HOME LOANS, INC. | $230,000 | n/a | 0.9% | |
| FINANCE OF AMERICA MORTGAGE LLC | $360,000 | $230,000 | -36.1% | 0.9% |
| Truist | $200,000 | n/a | 0.7% | |
| NAVY FEDERAL CREDIT UNION | $280,000 | $195,000 | -30.4% | 0.7% |
| NFM, INC. | $195,000 | n/a | 0.7% | |
| SHARONVIEW FEDERAL CREDIT UNION | $195,000 | n/a | 0.7% | |
| NETWORK CAPITAL FUNDING CORPORATION | $175,000 | n/a | 0.7% | |
| Wyndham Capital Mortgage, Inc. | $175,000 | n/a | 0.7% | |
| VILLAGE CAPITAL MORTGAGE | $165,000 | n/a | 0.6% | |
| ROYAL UNITED MORTGAGE LLC | $155,000 | n/a | 0.6% | |
| PNC Bank | $145,000 | $150,000 | 3.4% | 0.6% |
| Blue Ridge Bank | $145,000 | n/a | 0.5% | |
| First Reliance Bank | $95,000 | $145,000 | 52.6% | 0.5% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $145,000 | n/a | 0.5% | |
| PENNYMAC LOAN SERVICES, LLC | $325,000 | $145,000 | -55.4% | 0.5% |
| NEW DAY FINANCIAL, LLC | $310,000 | $135,000 | -56.5% | 0.5% |
| SUN WEST MORTGAGE COMPANY, INC. | $135,000 | n/a | 0.5% | |
| Flagstar Bank, FSB | $125,000 | n/a | 0.5% | |
| POLARIS HOME FUNDING CORP. | $125,000 | n/a | 0.5% | |
| BETTER MORTGAGE CORPORATION | $95,000 | $115,000 | 21.1% | 0.4% |
| First Federal Bank | $115,000 | n/a | 0.4% | |
| HOMESTAR FINANCIAL CORPORATION | $115,000 | n/a | 0.4% | |
| U.S. Bank | $115,000 | n/a | 0.4% | |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $290,000 | $105,000 | -63.8% | 0.4% |
| SRP Federal Credit Union | $105,000 | n/a | 0.4% | |
| Alcova Mortgage LLC | $115,000 | $95,000 | -17.4% | 0.4% |
| GUARANTEED RATE, INC. | $380,000 | $95,000 | -75.0% | 0.4% |
| South State Bank | $95,000 | n/a | 0.4% | |
| 1ST SIGNATURE LENDING, LLC | $85,000 | n/a | 0.3% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $35,000 | $85,000 | 142.9% | 0.3% |
| GUILD MORTGAGE COMPANY | $455,000 | $75,000 | -83.5% | 0.3% |
| MCLEAN MORTGAGE CORPORATION | $75,000 | n/a | 0.3% | |
| MORIA DEVELOPMENT, INC. | $75,000 | n/a | 0.3% | |
| CapStar Bank | $65,000 | n/a | 0.2% | |
| CSL Financial, LLC | $65,000 | n/a | 0.2% | |
| EDUCATIONAL SYSTEMS | $65,000 | n/a | 0.2% | |
| Mr. Cooper ( Nationstar Mortgage ) | $625,000 | $65,000 | -89.6% | 0.2% |
| AMERICAN FINANCIAL RESOURCES, INC. | $115,000 | $55,000 | -52.2% | 0.2% |
| Magnolia Bank | $55,000 | n/a | 0.2% | |
| Truliant Federal Credit Union | $15,000 | n/a | 0.1% |
Bennettsville's top lender by overall market share is GREYSTONE SERVICING COMPANY LLC, with 13.1% market share. In second place, with 11.8%, is 21ST MORTGAGE CORPORATION, having originated $3,140,000 in loans. In third place, with 8.5%, is First-Citizens Bank & Trust Company, having originated $2,255,000 in loans. In fourth place, with 5.2%, is QUICKEN LOANS, LLC, having originated $1,400,000 in loans. In fifth place, with 3.7%, is Mortgage Research Center, LLC, having originated $985,000 in loans.
Bennettsville, SC Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 129 | $16,435,000 | $127,403 |
| Cash Out Refi | 35 | $4,205,000 | $120,143 |
| Refi | 22 | $5,620,000 | $255,455 |
| Home Improvement | 4 | $220,000 | $55,000 |
| Other | 2 | $200,000 | $100,000 |
Bennettsville's most frequently cited loan purpose was Home Purchase, with 129 originations. The 2nd most popular reason was Cash Out Refi, with 35 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 41 | $8,865,000 | $216,220 |
| 4-5% | 33 | $3,695,000 | $111,970 |
| 3-4% | 33 | $4,405,000 | $133,485 |
| Over 8% | 25 | $2,905,000 | $116,200 |
| 6-7% | 25 | $2,975,000 | $119,000 |
| 7-8% | 13 | $1,645,000 | $126,538 |
| 2.5-3% | 11 | $1,165,000 | $105,909 |
| <2.5% | 5 | $605,000 | $121,000 |
During 2022, Bennettsville's most frequently originated rate bucket was 5-6%, with 41 originations.
Loan Sizing (Bennettsville, SC MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 87 | $5,915,000 | $67,989 |
| $100k-200k | 87 | $12,315,000 | $141,552 |
| $200k-400k | 15 | $3,765,000 | $251,000 |
| $400k-600k | 1 | $425,000 | $425,000 |
| $600k-1000k | 1 | $755,000 | $755,000 |
| $Over $1MM | 1 | $3,505,000 | $3,505,000 |
Bennettsville's loan sizing saw the bucket of loans from $100,000 or less with 87 originations, totaling $5,915,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 119 | $15,675,000 | $131,723 |
| 60-80% | 33 | $3,685,000 | $111,667 |
| 40-60% | 21 | $5,905,000 | $281,190 |
| 20-40% | 6 | $240,000 | $40,000 |
| Over 100% | 3 | $385,000 | $128,333 |
| Under 20% | 1 | $15,000 | $15,000 |
Bennettsville's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 119 originations, totaling $15,675,000 in origination value.