Big Spring Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Big Spring averaged 7.12% 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 7.1% and one month ago for the week of 2024-03-14, the average rate was 6.66%.

    Big Spring's average rate one year ago was 6.29%.

    For refis of the same type during the week of 2024-04-18, the average rate was 7.1%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-18 7.1%
    Big Spring 30 Year Fixed Rate 2024-04-18 7.12%
    Big Spring 30 Year Fixed Rate Refi 2024-04-18 7.1%
    Big Spring 15 Year Fixed Rate 2024-04-18 6.59%
    Big Spring 15 Year Fixed Rate Refi 2024-04-18 7.09%
    Big Spring 30 Year FHA 2024-04-18 7.37%
    Big Spring 30 Year FHA Refi 2024-04-18 6.96%
    Big Spring 30 Year USDA 2024-04-18 6.96%
    Big Spring 30 Year USDA Refi 2024-04-18 6.96%
    Big Spring 30 Year VA 2024-04-18 6.96%
    Big Spring 30 Year VA Refi 2024-04-18 6.76%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Big Spring, TX.

    Big Spring 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 Big Spring, TX 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.).

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 23 7.05% $5,729
    MANN FINANCIAL INC. 7 7.18% $5,273
    PRIMARY RESIDENTIAL MORTGAGE, INC. 6 7.08% $7,831
    LRS FINANCIAL NETWORK, INC. 5 7.02% $5,167
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.60% $4,955
    Prosperity Bank 5 7.15% $4,951
    SECURITYNATIONAL MORTGAGE COMPANY 4 6.44% $7,935
    LOANDEPOT.COM, LLC 4 6.84% $5,776
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 7.13% $4,189
    AMCAP MORTGAGE, LTD. 2 6.81% $10,140
    AMERISAVE MORTGAGE CORPORATION 2 7.63% $7,618
    CARDINAL FINANCIAL 2 6.87% $8,877
    JPMorgan Chase Bank 2 7.18% $1,630
    ROYAL UNITED MORTGAGE LLC 2 7.25% $8,963
    UNITED WHOLESALE MORTGAGE, LLC 2 6.50% $8,528
    Vellum Mortgage, Inc. 1 6.88% $2,807
    EVERETT FINANCIAL, INC. 1 6.88% $9,461
    Citizens Bank 1 6.88% $4,884
    CHURCHILL MORTGAGE CORPORATION 1 7.25% $6,861
    MORTGAGE FINANCIAL SERVICES, LLC 1 5.99% $6,462
    Mortgage Research Center, LLC 1 6.88% $2,063
    MUTUAL OF OMAHA MORTGAGE, INC. 1 8.00% $4,103
    NEWREZ LLC 1 7.63% $6,514
    Chickasaw Community Bank 1 6.63% $13,357
    AmeriHome Mortgage Company, LLC 1 6.63% $5,740
    American Momentum Bank 1 7.63% $10,769
    Watermark Capital, Inc. 1 5.99% $4,937
    AMERICAN FINANCING CORPORATION 1 7.99% $7,554
    Sierra Pacific Mortgage Company, Inc. 1 6.88% $10,028
    Summit Mortgage Corporation 1 6.50% $4,083
    Waterstone Mortgage Corporation 1 7.13% $14,638
    First Bank 1 6.38% $6,499
    GULF COAST EDUCATORS FEDERAL CREDIT UNION 1 5.63% $5,894
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.38% $6,214

    Big Spring Average Closing Costs & Other Stats

    Big Spring, TX's 34 lenders originated 351 loans during 2023. The total origination value was $68,865,000, with an average loan value of $196,197.

    Big Spring's average closing costs are $6,275.

    The top Big Spring lender as defined by loan originations is QUICKEN LOANS, LLC, with 23 loans originated. Their average total fees are $5,729, which is $456 higher than the next largest lender, MANN FINANCIAL INC..

    The lowest fee Big Spring lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($5,729), .

    The lowest rate Big Spring lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (7.05%), .

    Big Spring, TX 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
    QUICKEN LOANS, LLC $6,225,000 $8,110,000 30.3% 11.8%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $9,875,000 $6,885,000 -30.3% 10.0%
    SECURITYNATIONAL MORTGAGE COMPANY $3,735,000 $4,000,000 7.1% 5.8%
    ORIX REAL ESTATE CAPITAL, LLC $3,465,000 n/a 5.0%
    Mortgage Research Center, LLC $4,345,000 $2,800,000 -35.6% 4.1%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $6,525,000 $2,580,000 -60.5% 3.7%
    MANN FINANCIAL INC. $2,575,000 n/a 3.7%
    Prosperity Bank $4,430,000 $2,425,000 -45.3% 3.5%
    LOANDEPOT.COM, LLC $705,000 $2,080,000 195.0% 3.0%
    Citadel Servicing Corporation $1,850,000 n/a 2.7%
    THRIVE MORTGAGE, LLC $1,795,000 n/a 2.6%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $840,000 $1,580,000 88.1% 2.3%
    EVERETT FINANCIAL, INC. $1,295,000 $1,565,000 20.8% 2.3%
    UNITED WHOLESALE MORTGAGE, LLC $535,000 $1,490,000 178.5% 2.2%
    LRS FINANCIAL NETWORK, INC. $10,855,000 $1,470,000 -86.5% 2.1%
    USAA Federal Savings Bank $995,000 $1,350,000 35.7% 2.0%
    LONE STAR STATE BANK $1,045,000 n/a 1.5%
    First Bank $1,015,000 n/a 1.5%
    21ST MORTGAGE CORPORATION $1,610,000 $975,000 -39.4% 1.4%
    T2 FINANCIAL LLC $535,000 $935,000 74.8% 1.4%
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. $845,000 n/a 1.2%
    CARDINAL FINANCIAL $810,000 $815,000 0.6% 1.2%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $930,000 $695,000 -25.3% 1.0%
    AMCAP MORTGAGE, LTD. $615,000 n/a 0.9%
    First Financial Bank $570,000 $605,000 6.1% 0.9%
    Strong Home Mortgage, LLC $545,000 n/a 0.8%
    PENNYMAC LOAN SERVICES, LLC $590,000 $540,000 -8.5% 0.8%
    Community National Bank $85,000 $535,000 529.4% 0.8%
    GUARANTEED RATE, INC. $215,000 $525,000 144.2% 0.8%
    Waterstone Mortgage Corporation $525,000 n/a 0.8%
    PNC Bank $95,000 $510,000 436.8% 0.7%
    GULF COAST EDUCATORS FEDERAL CREDIT UNION $495,000 n/a 0.7%
    AMERISAVE MORTGAGE CORPORATION $485,000 n/a 0.7%
    West Texas National Bank $360,000 $415,000 15.3% 0.6%
    MORTGAGE FINANCIAL SERVICES, LLC $305,000 $410,000 34.4% 0.6%
    PENTAGON FEDERAL CREDIT UNION $95,000 $400,000 321.1% 0.6%
    Mr. Cooper ( Nationstar Mortgage ) $380,000 $380,000 0.0% 0.6%
    JPMorgan Chase Bank $1,145,000 $350,000 -69.4% 0.5%
    First United Bank $335,000 n/a 0.5%
    Chickasaw Community Bank $305,000 n/a 0.4%
    CLM MORTGAGE, INC $305,000 n/a 0.4%
    Paramount Residential Mortgage Group, Inc. $275,000 n/a 0.4%
    VILLAGE CAPITAL MORTGAGE $265,000 n/a 0.4%
    American Momentum Bank $255,000 n/a 0.4%
    Watermark Capital, Inc. $205,000 $255,000 24.4% 0.4%
    Western Bank $595,000 $255,000 -57.1% 0.4%
    CORNERSTONE HOME LENDING, INC. $145,000 $235,000 62.1% 0.3%
    CREDIT HUMAN FEDERAL CREDIT UNION $230,000 n/a 0.3%
    ROYAL UNITED MORTGAGE LLC $230,000 n/a 0.3%
    CHURCHILL MORTGAGE CORPORATION $135,000 $225,000 66.7% 0.3%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $460,000 $225,000 -51.1% 0.3%
    The First National Bank of Albany $225,000 n/a 0.3%
    Complex Community Federal Credit Union $545,000 $220,000 -59.6% 0.3%
    CALCON MUTUAL MORTGAGE LLC $215,000 n/a 0.3%
    Wells Fargo Bank $18,885,000 $205,000 -98.9% 0.3%
    Citizens Bank $385,000 $195,000 -49.4% 0.3%
    FREEDOM MORTGAGE CORPORATION $880,000 $185,000 -79.0% 0.3%
    Centennial Bank $175,000 n/a 0.3%
    Commercial Bank of Texas $175,000 n/a 0.3%
    MUTUAL OF OMAHA MORTGAGE, INC. $170,000 n/a 0.2%
    AmeriHome Mortgage Company, LLC $135,000 $165,000 22.2% 0.2%
    Citizens State Bank $165,000 n/a 0.2%
    TRIAD FINANCIAL SERVICES, INC. $415,000 $165,000 -60.2% 0.2%
    CMG MORTGAGE, INC. $445,000 $160,000 -64.0% 0.2%
    DRAPER AND KRAMER MORTGAGE CORP. $145,000 $155,000 6.9% 0.2%
    GUILD MORTGAGE COMPANY $255,000 $155,000 -39.2% 0.2%
    VANDERBILT MORTGAGE AND FINANCE, INC. $65,000 $155,000 138.5% 0.2%
    Alliance Credit Union $295,000 $135,000 -54.2% 0.2%
    NAVY FEDERAL CREDIT UNION $630,000 $125,000 -80.2% 0.2%
    AMERICAN FINANCING CORPORATION $115,000 n/a 0.2%
    MidFirst Bank $115,000 n/a 0.2%
    Sierra Pacific Mortgage Company, Inc. $115,000 n/a 0.2%
    FirstLight Federal Credit Union $95,000 n/a 0.1%
    NEWREZ LLC $1,230,000 $95,000 -92.3% 0.1%
    LOANPAL, LLC $865,000 $85,000 -90.2% 0.1%
    Vellum Mortgage, Inc. $85,000 n/a 0.1%
    LIMA ONE CAPITAL, LLC $95,000 $75,000 -21.1% 0.1%
    Summit Mortgage Corporation $75,000 n/a 0.1%
    A+ Federal Credit Union $55,000 n/a 0.1%

    Big Spring's top lender by overall market share is QUICKEN LOANS, LLC, with 11.8% market share. In second place, with 10.0%, is PRIMARY RESIDENTIAL MORTGAGE, INC., having originated $6,885,000 in loans. In third place, with 5.8%, is SECURITYNATIONAL MORTGAGE COMPANY, having originated $4,000,000 in loans. In fourth place, with 5.0%, is ORIX REAL ESTATE CAPITAL, LLC, having originated $3,465,000 in loans. In fifth place, with 4.1%, is Mortgage Research Center, LLC, having originated $2,800,000 in loans.

    Big Spring Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Big Spring (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $154,000 (1.7%) $189,361 (7.0%) 0.00 128
    2018-02-01 $150,000 (2.4%) $189,151 (10.3%) 0.00 108
    2018-03-01 $157,900 (7.8%) $193,124 (12.4%) 0.00 91
    2018-04-01 $159,950 (3.2%) $184,125 (1.7%) 0.00 89
    2018-05-01 $162,475 (1.6%) $172,830 (-4.2%) 0.00 87
    2018-06-01 $175,000 (7.9%) $189,213 (4.8%) 0.00 81
    2018-07-01 $181,000 (11.0%) $203,879 (12.5%) 0.00 85
    2018-08-01 $169,900 (6.3%) $200,898 (11.6%) 0.00 89
    2018-09-01 $159,900 (-0.1%) $204,242 (15.1%) 0.00 89
    2018-10-01 $159,750 (-1.7%) $206,844 (19.7%) 0.00 83
    2018-11-01 $158,900 (-0.6%) $207,300 (19.0%) 0.00 75
    2018-12-01 $150,000 (-5.7%) $196,530 (9.2%) 0.00 71
    2019-01-01 $179,500 (16.6%) $221,485 (17.0%) 0.00 66
    2019-02-01 $180,950 (20.6%) $222,979 (17.9%) 0.00 64
    2019-03-01 $180,500 (14.3%) $231,853 (20.1%) 0.00 61
    2019-04-01 $182,525 (14.1%) $241,444 (31.1%) 0.00 61
    2019-05-01 $178,075 (9.6%) $245,855 (42.3%) 0.00 69
    2019-06-01 $169,450 (-3.2%) $229,349 (21.2%) 0.00 77
    2019-07-01 $170,750 (-5.7%) $227,539 (11.6%) 0.00 101
    2019-08-01 $161,973 (-4.7%) $220,763 (9.9%) 0.00 108
    2019-09-01 $155,182 (-3.0%) $216,737 (6.1%) 0.00 108
    2019-10-01 $149,425 (-6.5%) $214,052 (3.5%) 0.00 110
    2019-11-01 $149,450 (-6.0%) $215,531 (4.0%) 0.00 122
    2019-12-01 $156,750 (4.5%) $213,132 (8.5%) 0.00 131
    2020-01-01 $169,200 (-5.7%) $211,681 (-4.4%) 0.00 124
    2020-02-01 $153,750 (-15.0%) $202,504 (-9.2%) 0.00 114
    2020-03-01 $155,000 (-14.1%) $200,698 (-13.4%) 0.00 130
    2020-04-01 $156,675 (-14.2%) $209,228 (-13.3%) 0.00 132
    2020-05-01 $164,750 (-7.5%) $214,583 (-12.7%) 0.00 133
    2020-06-01 $166,700 (-1.6%) $207,893 (-9.4%) 0.00 119
    2020-07-01 $196,725 (15.2%) $219,792 (-3.4%) 0.00 114
    2020-08-01 $185,000 (14.2%) $219,647 (-0.5%) 0.00 116
    2020-09-01 $187,025 (20.5%) $214,484 (-1.0%) 0.00 116
    2020-10-01 $193,250 (29.3%) $216,193 (1.0%) 0.00 116
    2020-11-01 $185,000 (23.8%) $211,576 (-1.8%) 0.00 117
    2020-12-01 $173,000 (10.4%) $208,173 (-2.3%) 0.00 112
    2021-01-01 $179,000 (5.8%) $221,738 (4.8%) 0.00 91
    2021-02-01 $202,425 (31.7%) $214,532 (5.9%) 0.00 95
    2021-03-01 $192,200 (24.0%) $207,988 (3.6%) 0.00 99
    2021-04-01 $199,450 (27.3%) $220,383 (5.3%) 0.00 105
    2021-05-01 $207,550 (26.0%) $253,603 (18.2%) 0.00 117
    2021-06-01 $216,750 (30.0%) $270,484 (30.1%) 0.00 113
    2021-07-01 $220,000 (11.8%) $268,152 (22.0%) 0.00 128
    2021-08-01 $216,200 (16.9%) $228,059 (3.8%) 0.00 131
    2021-09-01 $198,000 (5.9%) $218,298 (1.8%) 0.00 136
    2021-10-01 $192,500 (-0.4%) $212,903 (-1.5%) 0.00 130
    2021-11-01 $175,000 (-5.4%) $207,433 (-2.0%) 0.00 121
    2021-12-01 $199,125 (15.1%) $220,230 (5.8%) 0.00 129
    2022-01-01 $199,900 (11.7%) $225,791 (1.8%) 0.00 132
    2022-02-01 $191,075 (-5.6%) $218,259 (1.7%) 0.00 120
    2022-03-01 $194,700 (1.3%) $224,481 (7.9%) 0.00 106
    2022-04-01 $198,975 (-0.2%) $234,569 (6.4%) 0.00 99
    2022-05-01 $192,000 (-7.5%) $228,889 (-9.8%) 0.00 103
    2022-06-01 $183,750 (-15.2%) $214,857 (-20.6%) 0.00 119
    2022-07-01 $194,500 (-11.6%) $217,506 (-18.9%) 0.00 131
    2022-08-01 $199,675 (-7.6%) $223,018 (-2.2%) 0.00 132
    2022-09-01 $197,000 (-0.5%) $220,157 (0.9%) 0.00 142
    2022-10-01 $197,000 (2.3%) $224,295 (5.4%) 0.00 140
    2022-11-01 $193,250 (10.4%) $221,693 (6.9%) 0.00 132
    2022-12-01 $195,000 (-2.1%) $220,922 (0.3%) 0.00 131
    2023-01-01 $188,000 (-6.0%) $214,789 (-4.9%) 0.00 131
    2023-02-01 $188,500 (-1.4%) $217,135 (-0.5%) 0.00 126
    2023-03-01 $193,713 (-0.5%) $224,201 (-0.1%) 0.00 121
    2023-04-01 $197,500 (-0.7%) $228,894 (-2.4%) 0.00 116
    2023-05-01 $206,000 (7.3%) $224,180 (-2.1%) 0.00 117
    2023-06-01 $195,000 (6.1%) $214,251 (-0.3%) 0.00 127
    2023-07-01 $199,000 (2.3%) $222,138 (2.1%) 0.00 135
    2023-08-01 $220,625 (10.5%) $237,654 (6.6%) 0.00 143
    2023-09-01 $227,000 (15.2%) $246,794 (12.1%) 0.00 146
    2023-10-01 $219,850 (11.6%) $245,202 (9.3%) 0.00 148
    2023-11-01 $216,625 (12.1%) $242,327 (9.3%) 0.00 151
    2023-12-01 $217,000 (11.3%) $236,922 (7.2%) 0.00 151
    2024-01-01 $222,500 (18.4%) $246,808 (14.9%) 0.00 137
    2024-02-01 $226,225 (20.0%) $247,512 (14.0%) 0.00 125
    2024-03-01 $232,400 (20.0%) $249,031 (11.1%) 0.00 129
    Big Spring's median listing price for 2024-03-01 was $232,400, a difference of $38,687 (20.0%) versus the prior year and $6,175 versus the prior month.

    Big Spring's median listing price comes in at 0% of the national average.

    Big Spring's average listing price for 2024-03-01 was $249,031, a difference of $24,830 (11.1%) versus the prior year and $1,519 versus the prior month.

    For the 2024-03-01 period, Big Spring had 129 MLS listings, a difference of 4 listings (3%) versus the prior month and 8 listings (7%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Big Spring (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,777 sqft
    2018-02-01 0 days 1,806 sqft
    2018-03-01 0 days 1,811 sqft
    2018-04-01 0 days 1,824 sqft
    2018-05-01 0 days 1,803 sqft
    2018-06-01 0 days 1,871 sqft
    2018-07-01 0 days 1,805 sqft
    2018-08-01 0 days 1,796 sqft
    2018-09-01 0 days 1,817 sqft
    2018-10-01 0 days 1,810 sqft
    2018-11-01 0 days 1,734 sqft
    2018-12-01 0 days 1,722 sqft
    2019-01-01 0 days 1,812 sqft
    2019-02-01 0 days 1,817 sqft
    2019-03-01 0 days 1,841 sqft
    2019-04-01 0 days 1,908 sqft
    2019-05-01 0 days 2,037 sqft
    2019-06-01 0 days 1,952 sqft
    2019-07-01 0 days 1,776 sqft
    2019-08-01 0 days 1,715 sqft
    2019-09-01 0 days 1,706 sqft
    2019-10-01 0 days 1,690 sqft
    2019-11-01 0 days 1,672 sqft
    2019-12-01 0 days 1,698 sqft
    2020-01-01 0 days 1,700 sqft
    2020-02-01 0 days 1,711 sqft
    2020-03-01 0 days 1,692 sqft
    2020-04-01 0 days 1,740 sqft
    2020-05-01 0 days 1,735 sqft
    2020-06-01 0 days 1,702 sqft
    2020-07-01 0 days 1,735 sqft
    2020-08-01 0 days 1,704 sqft
    2020-09-01 0 days 1,749 sqft
    2020-10-01 0 days 1,802 sqft
    2020-11-01 0 days 1,775 sqft
    2020-12-01 0 days 1,748 sqft
    2021-01-01 0 days 1,793 sqft
    2021-02-01 0 days 1,827 sqft
    2021-03-01 0 days 1,801 sqft
    2021-04-01 0 days 1,811 sqft
    2021-05-01 0 days 1,836 sqft
    2021-06-01 0 days 1,836 sqft
    2021-07-01 0 days 1,813 sqft
    2021-08-01 0 days 1,755 sqft
    2021-09-01 0 days 1,717 sqft
    2021-10-01 0 days 1,618 sqft
    2021-11-01 0 days 1,632 sqft
    2021-12-01 0 days 1,671 sqft
    2022-01-01 0 days 1,702 sqft
    2022-02-01 0 days 1,702 sqft
    2022-03-01 0 days 1,723 sqft
    2022-04-01 0 days 1,644 sqft
    2022-05-01 0 days 1,601 sqft
    2022-06-01 0 days 1,644 sqft
    2022-07-01 0 days 1,712 sqft
    2022-08-01 0 days 1,757 sqft
    2022-09-01 0 days 1,779 sqft
    2022-10-01 0 days 1,669 sqft
    2022-11-01 0 days 1,669 sqft
    2022-12-01 0 days 1,679 sqft
    2023-01-01 0 days 1,614 sqft
    2023-02-01 0 days 1,669 sqft
    2023-03-01 0 days 1,705 sqft
    2023-04-01 0 days 1,663 sqft
    2023-05-01 0 days 1,852 sqft
    2023-06-01 0 days 1,826 sqft
    2023-07-01 0 days 1,704 sqft
    2023-08-01 0 days 1,807 sqft
    2023-09-01 0 days 1,810 sqft
    2023-10-01 0 days 1,795 sqft
    2023-11-01 0 days 1,781 sqft
    2023-12-01 0 days 1,759 sqft
    2024-01-01 0 days 1,886 sqft
    2024-02-01 0 days 1,847 sqft
    2024-03-01 0 days 1,883 sqft
    Big Spring's median listing age (time on market) for 2024-03-01 was 0 days.

    Big Spring's median square footage for active listings during the 2024-03-01 period was 1,883 sqft. One year prior, the average listing was 1,705 sqft.

    Big Spring, TX Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 289 $55,575,000 $192,301
    Cash Out Refi 24 $3,670,000 $152,917
    Refi 17 $7,145,000 $420,294
    Other 15 $1,655,000 $110,333
    Home Improvement 6 $820,000 $136,667

    Big Spring's most frequently cited loan purpose was Home Purchase, with 289 originations. The 2nd most popular reason was Cash Out Refi, with 24 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    7-8% 118 $22,220,000 $188,305
    6-7% 106 $22,480,000 $212,075
    Over 8% 59 $9,715,000 $164,661
    5-6% 31 $7,685,000 $247,903
    <2.5% 23 $3,585,000 $155,870
    4-5% 2 $570,000 $285,000

    During 2023, Big Spring's most frequently originated rate bucket was 7-8%, with 118 originations.

    Loan Sizing (Big Spring, TX MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 130 $19,430,000 $149,462
    $200k-400k 120 $33,190,000 $276,583
    $100,000 or less 84 $4,650,000 $55,357
    $400k-600k 14 $6,280,000 $448,571
    $Over $1MM 2 $4,620,000 $2,310,000
    $600k-1000k 1 $695,000 $695,000

    Big Spring's loan sizing saw the bucket of loans from $100k-200k with 130 originations, totaling $19,430,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 218 $45,990,000 $210,963
    60-80% 58 $9,830,000 $169,483
    Under 20% 25 $155,000 $6,200
    40-60% 17 $2,525,000 $148,529
    20-40% 11 $1,065,000 $96,818
    Over 100% 10 $6,580,000 $658,000

    Big Spring's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 218 originations, totaling $45,990,000 in origination value.