Bluffton Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Bluffton averaged
7.24%
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
6.78% and
one month ago for the week of 2023-08-10, the
average rate was 6.82%.
Bluffton's average rate one year ago was 5.75%.
For refis of the same type during the week of 2023-09-14, the average rate
was 7.48%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-09-14 | 7.18% |
Bluffton 30 Year Fixed Rate | 2023-09-14 | 7.24% |
Bluffton 30 Year Fixed Rate Refi | 2023-09-14 | 7.48% |
Bluffton 15 Year Fixed Rate | 2023-09-14 | 6.71% |
Bluffton 15 Year Fixed Rate Refi | 2023-09-14 | 6.91% |
Bluffton 30 Year FHA | 2023-09-14 | 6.79% |
Bluffton 30 Year FHA Refi | 2023-09-14 | 6.89% |
Bluffton 30 Year USDA | 2023-09-14 | 6.98% |
Bluffton 30 Year USDA Refi | 2023-09-14 | 7.18% |
Bluffton 30 Year VA | 2023-09-14 | 6.91% |
Bluffton 30 Year VA Refi | 2023-09-14 | 7.01% |
Bluffton 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 Bluffton, 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.).
Bluffton Average Closing Costs & Other Stats
Bluffton, IN's 48 lenders originated 919
loans during 2022. The total origination value was $129,225,000, with an average loan value of
$140,615.
Bluffton's average closing costs are $2,950.
The top Bluffton lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with
64 loans originated. Their average total fees are
$2,385, which is $228
lower than the next largest lender,
AMERICAN MORTGAGE SERVICE COMPANY.
The lowest fee Bluffton lenders (with over 10 loans originated) are
First Bank of Berne ($1,860), ProFed Federal Credit Union ($2,246), TEACHERS CREDIT UNION ($2,312), RUOFF MORTGAGE COMPANY, INC. ($2,385) and Three Rivers Federal Credit Union ($2,418).
The lowest rate Bluffton lenders (with over 10 loans originated) are
The Farmers & Merchants State Bank (4.19%), QUICKEN LOANS, LLC (4.54%), First Bank of Berne (4.76%), ProFed Federal Credit Union (4.76%) and Three Rivers Federal Credit Union (4.82%).
Bluffton, 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 | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
---|---|---|---|---|
Three Rivers Federal Credit Union | $24,270,000 | $17,275,000 | -28.8% | 13.4% |
RUOFF MORTGAGE COMPANY, INC. | $24,620,000 | $15,630,000 | -36.5% | 12.1% |
AMERICAN MORTGAGE SERVICE COMPANY | $26,905,000 | $10,315,000 | -61.7% | 8.0% |
First Bank of Berne | $14,675,000 | $8,320,000 | -43.3% | 6.4% |
ProFed Federal Credit Union | $10,370,000 | $7,945,000 | -23.4% | 6.1% |
First Merchants Bank | $12,210,000 | $7,780,000 | -36.3% | 6.0% |
The Farmers & Merchants State Bank | $2,270,000 | $5,155,000 | 127.1% | 4.0% |
QUICKEN LOANS, LLC | $8,315,000 | $4,570,000 | -45.0% | 3.5% |
MIDWEST AMERICA | $2,580,000 | $4,490,000 | 74.0% | 3.5% |
PNC Bank | $5,160,000 | $3,825,000 | -25.9% | 3.0% |
TEACHERS CREDIT UNION | $1,585,000 | $3,140,000 | 98.1% | 2.4% |
1st Source Bank | $2,545,000 | $2,260,000 | -11.2% | 1.7% |
Mortgage Research Center, LLC | $1,680,000 | $2,100,000 | 25.0% | 1.6% |
Union Savings Bank | $1,965,000 | $2,000,000 | 1.8% | 1.5% |
Flagstar Bank, FSB | $3,970,000 | $1,940,000 | -51.1% | 1.5% |
GVC MORTGAGE, INC. | $2,465,000 | $1,765,000 | -28.4% | 1.4% |
JPMorgan Chase Bank | $1,890,000 | $1,460,000 | -22.8% | 1.1% |
HALLMARK HOME MORTGAGE, LLC | $1,050,000 | $1,430,000 | 36.2% | 1.1% |
THRIVE MORTGAGE, LLC | $105,000 | $1,255,000 | 1,095.2% | 1.0% |
CROSSCOUNTRY MORTGAGE, LLC | $1,265,000 | $890,000 | -29.6% | 0.7% |
BROKER SOLUTIONS, INC. | $705,000 | $880,000 | 24.8% | 0.7% |
Fifth Third Bank | $3,020,000 | $830,000 | -72.5% | 0.6% |
TRIAD FINANCIAL SERVICES, INC. | $140,000 | $830,000 | 492.9% | 0.6% |
Farm Credit Mid-America, ACA | $935,000 | $810,000 | -13.4% | 0.6% |
First Federal Savings Bank | $255,000 | $790,000 | 209.8% | 0.6% |
V.I.P. MORTGAGE, INC. | $470,000 | $760,000 | 61.7% | 0.6% |
LOANDEPOT.COM, LLC | $1,855,000 | $745,000 | -59.8% | 0.6% |
PENNYMAC LOAN SERVICES, LLC | $845,000 | $715,000 | -15.4% | 0.6% |
Dollar Bank, Federal Savings Bank | $705,000 | n/a | 0.5% | |
NEWREZ LLC | $780,000 | $700,000 | -10.3% | 0.5% |
POLARIS HOME FUNDING CORP. | $840,000 | $640,000 | -23.8% | 0.5% |
Carrington Mortgage Services, LLC | $910,000 | $605,000 | -33.5% | 0.5% |
FREEDOM MORTGAGE CORPORATION | $3,375,000 | $590,000 | -82.5% | 0.5% |
USAA Federal Savings Bank | $460,000 | $580,000 | 26.1% | 0.4% |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $155,000 | $560,000 | 261.3% | 0.4% |
GSF Mortgage Corporation | $525,000 | n/a | 0.4% | |
Nations Lending Corporation | $525,000 | n/a | 0.4% | |
FORUM Credit Union | $520,000 | n/a | 0.4% | |
NEW DAY FINANCIAL, LLC | $465,000 | $520,000 | 11.8% | 0.4% |
Regions Bank | $515,000 | n/a | 0.4% | |
ENDEAVOR CAPITAL, LLC. | $235,000 | $500,000 | 112.8% | 0.4% |
ACADEMY MORTGAGE CORPORATION | $425,000 | $485,000 | 14.1% | 0.4% |
EVERETT FINANCIAL, INC. | $390,000 | n/a | 0.3% | |
Wells Fargo Bank | $1,555,000 | $380,000 | -75.6% | 0.3% |
GUARANTEED RATE, INC. | $125,000 | $370,000 | 196.0% | 0.3% |
VAN DYK MORTGAGE CORPORATION | $135,000 | $360,000 | 166.7% | 0.3% |
STAR Financial Bank | $850,000 | $350,000 | -58.8% | 0.3% |
First Farmers Bank and Trust Company | $565,000 | $335,000 | -40.7% | 0.3% |
First Internet Bank of Indiana | $335,000 | n/a | 0.3% | |
EMBRACE HOME LOANS, INC. | $320,000 | n/a | 0.2% | |
Discover Bank | $315,000 | n/a | 0.2% | |
First Financial Bank | $55,000 | $315,000 | 472.7% | 0.2% |
Truist | $310,000 | n/a | 0.2% | |
DIAMOND RESIDENTIAL MORTGAGE CORPORATION | $420,000 | $300,000 | -28.6% | 0.2% |
DHI MORTGAGE COMPANY, LTD. | $280,000 | n/a | 0.2% | |
LAKEVIEW LOAN SERVICING, LLC | $480,000 | $270,000 | -43.8% | 0.2% |
PARTNERS 1ST Federal Credit Union | $770,000 | $270,000 | -64.9% | 0.2% |
AMERICAN FINANCING CORPORATION | $430,000 | $260,000 | -39.5% | 0.2% |
Citizens State Bank of New Castle | $700,000 | $245,000 | -65.0% | 0.2% |
FORT FINANCIAL Federal Credit Union | $100,000 | $230,000 | 130.0% | 0.2% |
AMERISAVE MORTGAGE CORPORATION | $1,060,000 | $225,000 | -78.8% | 0.2% |
BETTER MORTGAGE CORPORATION | $610,000 | $225,000 | -63.1% | 0.2% |
CALIBER HOME LOANS, INC. | $1,505,000 | $220,000 | -85.4% | 0.2% |
Lake City Bank | $1,360,000 | $205,000 | -84.9% | 0.2% |
Citizens Bank | $105,000 | $200,000 | 90.5% | 0.2% |
Merchants Bank of Indiana | $195,000 | n/a | 0.2% | |
Northwest Bank | $260,000 | $195,000 | -25.0% | 0.2% |
Mr. Cooper ( Nationstar Mortgage ) | $880,000 | $190,000 | -78.4% | 0.1% |
EMM LOANS LLC | $185,000 | n/a | 0.1% | |
AmeriHome Mortgage Company, LLC | $515,000 | $175,000 | -66.0% | 0.1% |
EVANSVILLE TEACHERS | $175,000 | n/a | 0.1% | |
UNION HOME MORTGAGE CORP. | $935,000 | $175,000 | -81.3% | 0.1% |
Waterstone Mortgage Corporation | $175,000 | n/a | 0.1% | |
Lend Smart Mortgage, LLC | $165,000 | n/a | 0.1% | |
MICHIGAN MUTUAL, INC. | $165,000 | n/a | 0.1% | |
UNITED WHOLESALE MORTGAGE, LLC | $160,000 | n/a | 0.1% | |
ARK-LA-TEX FINANCIAL SERVICES, LLC. | $155,000 | n/a | 0.1% | |
Mid-Continent Funding, Inc. | $155,000 | n/a | 0.1% | |
NAVY FEDERAL CREDIT UNION | $365,000 | $155,000 | -57.5% | 0.1% |
Peoples Bank | $155,000 | n/a | 0.1% | |
First Guaranty Mortgage Corporation | $320,000 | $145,000 | -54.7% | 0.1% |
Citibank | $165,000 | $140,000 | -15.2% | 0.1% |
Barrington Bank & Trust Company, N.A. | $145,000 | $135,000 | -6.9% | 0.1% |
BAY EQUITY LLC | $155,000 | $135,000 | -12.9% | 0.1% |
Northpointe Bank | $135,000 | n/a | 0.1% | |
VILLAGE CAPITAL MORTGAGE | $280,000 | $135,000 | -51.8% | 0.1% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $320,000 | $130,000 | -59.4% | 0.1% |
Bankers' Bank | $125,000 | n/a | 0.1% | |
MID AMERICA MORTGAGE, INC. | $350,000 | $115,000 | -67.1% | 0.1% |
PENTAGON FEDERAL CREDIT UNION | $615,000 | $115,000 | -81.3% | 0.1% |
Horizon Bank | $290,000 | $105,000 | -63.8% | 0.1% |
First Federal Savings Bank | $255,000 | $85,000 | -66.7% | 0.1% |
First State Bank | $85,000 | n/a | 0.1% | |
PROPER RATE, LLC | $85,000 | n/a | 0.1% | |
Raymond James Bank | $85,000 | n/a | 0.1% | |
The Huntington National Bank | $75,000 | n/a | 0.1% | |
U.S. Bank | $150,000 | $70,000 | -53.3% | 0.1% |
SPRING EQ, LLC | $135,000 | $65,000 | -51.9% | 0.1% |
NUMARK CREDIT UNION | $35,000 | n/a | 0.0% | |
Old National Bank | $495,000 | $25,000 | -94.9% | 0.0% |
STAR USA FEDERAL CREDIT UNION | $35,000 | $25,000 | -28.6% | 0.0% |
21ST MORTGAGE CORPORATION | $185,000 | $15,000 | -91.9% | 0.0% |
Bluffton's top lender by overall market share is Three Rivers Federal Credit Union, with 13.4% market share. In second place, with 12.1%, is RUOFF MORTGAGE COMPANY, INC., having originated $15,630,000 in loans. In third place, with 8.0%, is AMERICAN MORTGAGE SERVICE COMPANY, having originated $10,315,000 in loans. In fourth place, with 6.4%, is First Bank of Berne, having originated $8,320,000 in loans. In fifth place, with 6.1%, is ProFed Federal Credit Union, having originated $7,945,000 in loans.
Bluffton, IN Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 402 | $70,100,000 | $174,378 |
Cash Out Refi | 165 | $23,145,000 | $140,273 |
Other | 146 | $10,980,000 | $75,205 |
Refi | 117 | $18,205,000 | $155,598 |
Home Improvement | 89 | $6,795,000 | $76,348 |
Bluffton's most frequently cited loan purpose was Home Purchase, with 402 originations. The 2nd most popular reason was Cash Out Refi, with 165 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
5-6% | 215 | $30,095,000 | $139,977 |
3-4% | 212 | $32,060,000 | $151,226 |
4-5% | 181 | $30,225,000 | $166,989 |
6-7% | 131 | $17,815,000 | $135,992 |
7-8% | 73 | $7,515,000 | $102,945 |
<2.5% | 48 | $5,590,000 | $116,458 |
2.5-3% | 32 | $4,470,000 | $139,688 |
Over 8% | 26 | $1,210,000 | $46,538 |
During 2022, Bluffton's most frequently originated rate bucket was 5-6%, with 215 originations.
Loan Sizing (Bluffton, IN MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 380 | $21,840,000 | $57,474 |
$100k-200k | 362 | $51,590,000 | $142,514 |
$200k-400k | 148 | $39,370,000 | $266,014 |
$400k-600k | 24 | $11,440,000 | $476,667 |
$600k-1000k | 3 | $2,285,000 | $761,667 |
$Over $1MM | 2 | $2,700,000 | $1,350,000 |
Bluffton's loan sizing saw the bucket of loans from $100,000 or less with 380 originations, totaling $21,840,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 269 | $50,695,000 | $188,457 |
60-80% | 206 | $37,200,000 | $180,583 |
20-40% | 145 | $11,165,000 | $77,000 |
Under 20% | 105 | $3,855,000 | $36,714 |
40-60% | 103 | $13,035,000 | $126,553 |
Over 100% | 5 | $1,635,000 | $327,000 |
Bluffton's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 269 originations, totaling $50,695,000 in origination value.