Bluffton Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Bluffton averaged
6.98%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.71% and
one month ago for the week of 2024-10-03, the
average rate was 6.41%.
Bluffton's average rate one year ago was 8.05%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.29%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Bluffton 30 Year Fixed Rate | 2024-11-07 | 6.98% |
| Bluffton 30 Year Fixed Rate Refi | 2024-11-07 | 7.29% |
| Bluffton 15 Year Fixed Rate | 2024-11-07 | 6.2% |
| Bluffton 15 Year Fixed Rate Refi | 2024-11-07 | 6% |
| Bluffton 30 Year FHA | 2024-11-07 | 6.53% |
| Bluffton 30 Year FHA Refi | 2024-11-07 | 6.33% |
| Bluffton 30 Year USDA | 2024-11-07 | 6.38% |
| Bluffton 30 Year USDA Refi | 2024-11-07 | 6.38% |
| Bluffton 30 Year VA | 2024-11-07 | 6.54% |
| Bluffton 30 Year VA Refi | 2024-11-07 | 6.14% |
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 53 lenders originated 661
loans during 2023. The total origination value was $110,675,000, with an average loan value of
$167,436.
Bluffton's average closing costs are $3,083.
The top Bluffton lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with
34 loans originated. Their average total fees are
$2,221, which is $602
lower than the next largest lender,
THRIVE MORTGAGE, LLC.
The lowest fee Bluffton lenders (with over 10 loans originated) are
RUOFF MORTGAGE COMPANY, INC. ($2,221), ProFed Federal Credit Union ($2,389), Three Rivers Federal Credit Union ($2,545), THRIVE MORTGAGE, LLC ($2,823) and .
The lowest rate Bluffton lenders (with over 10 loans originated) are
ProFed Federal Credit Union (6.55%), Three Rivers Federal Credit Union (6.77%), THRIVE MORTGAGE, LLC (6.93%), RUOFF MORTGAGE COMPANY, INC. (7.02%) and .
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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| Barings Multifamily Capital | $19,115,000 | n/a | 17.3% | |
| RUOFF MORTGAGE COMPANY, INC. | $15,630,000 | $10,965,000 | -29.8% | 9.9% |
| Three Rivers Federal Credit Union | $17,275,000 | $10,605,000 | -38.6% | 9.6% |
| THRIVE MORTGAGE, LLC | $1,255,000 | $7,890,000 | 528.7% | 7.1% |
| First Merchants Bank | $7,780,000 | $6,930,000 | -10.9% | 6.3% |
| ProFed Federal Credit Union | $7,945,000 | $5,825,000 | -26.7% | 5.3% |
| QUICKEN LOANS, LLC | $4,570,000 | $4,075,000 | -10.8% | 3.7% |
| The Farmers & Merchants State Bank | $5,155,000 | $3,350,000 | -35.0% | 3.0% |
| DHI MORTGAGE COMPANY, LTD. | $280,000 | $3,015,000 | 976.8% | 2.7% |
| First Bank of Berne | $8,320,000 | $2,940,000 | -64.7% | 2.7% |
| PNC Bank | $3,825,000 | $2,390,000 | -37.5% | 2.2% |
| TRIAD FINANCIAL SERVICES, INC. | $830,000 | $1,400,000 | 68.7% | 1.3% |
| Fifth Third Bank | $830,000 | $1,395,000 | 68.1% | 1.3% |
| Mortgage Research Center, LLC | $2,100,000 | $1,275,000 | -39.3% | 1.2% |
| The Federal Savings Bank | $1,255,000 | n/a | 1.1% | |
| NEWREZ LLC | $700,000 | $1,190,000 | 70.0% | 1.1% |
| MIDWEST AMERICA | $4,490,000 | $1,175,000 | -73.8% | 1.1% |
| JPMorgan Chase Bank | $1,460,000 | $1,165,000 | -20.2% | 1.1% |
| 1st Source Bank | $2,260,000 | $1,110,000 | -50.9% | 1.0% |
| Flagstar Bank, FSB | $1,940,000 | $1,085,000 | -44.1% | 1.0% |
| LOANDEPOT.COM, LLC | $745,000 | $1,010,000 | 35.6% | 0.9% |
| AMERISAVE MORTGAGE CORPORATION | $225,000 | $940,000 | 317.8% | 0.8% |
| First Farmers Bank and Trust Company | $335,000 | $920,000 | 174.6% | 0.8% |
| DIAMOND RESIDENTIAL MORTGAGE CORPORATION | $300,000 | $905,000 | 201.7% | 0.8% |
| TEACHERS CREDIT UNION | $3,140,000 | $890,000 | -71.7% | 0.8% |
| Nations Lending Corporation | $525,000 | $835,000 | 59.0% | 0.8% |
| FREEDOM MORTGAGE CORPORATION | $590,000 | $780,000 | 32.2% | 0.7% |
| UNION HOME MORTGAGE CORP. | $175,000 | $690,000 | 294.3% | 0.6% |
| GVC MORTGAGE, INC. | $1,765,000 | $665,000 | -62.3% | 0.6% |
| Horizon Bank | $105,000 | $665,000 | 533.3% | 0.6% |
| Union Savings Bank | $2,000,000 | $645,000 | -67.8% | 0.6% |
| STOCKTON MORTGAGE CORPORATION | $575,000 | n/a | 0.5% | |
| PARTNERS 1ST Federal Credit Union | $270,000 | $565,000 | 109.3% | 0.5% |
| PURDUE FEDERAL CREDIT UNION | $525,000 | n/a | 0.5% | |
| HALLMARK HOME MORTGAGE, LLC | $1,430,000 | $510,000 | -64.3% | 0.5% |
| USAA Federal Savings Bank | $580,000 | $495,000 | -14.7% | 0.4% |
| First Federal Savings Bank | $85,000 | $485,000 | 470.6% | 0.4% |
| Farm Credit Mid-America, ACA | $810,000 | $460,000 | -43.2% | 0.4% |
| BROKER SOLUTIONS, INC. | $880,000 | $445,000 | -49.4% | 0.4% |
| Northpointe Bank | $135,000 | $425,000 | 214.8% | 0.4% |
| V.I.P. MORTGAGE, INC. | $760,000 | $420,000 | -44.7% | 0.4% |
| Northwest Bank | $195,000 | $415,000 | 112.8% | 0.4% |
| Wells Fargo Bank | $380,000 | $390,000 | 2.6% | 0.4% |
| Lake City Bank | $205,000 | $380,000 | 85.4% | 0.3% |
| STAR Financial Bank | $350,000 | $375,000 | 7.1% | 0.3% |
| VAN DYK MORTGAGE CORPORATION | $360,000 | $365,000 | 1.4% | 0.3% |
| CROSSCOUNTRY MORTGAGE, LLC | $890,000 | $350,000 | -60.7% | 0.3% |
| Discover Bank | $315,000 | $320,000 | 1.6% | 0.3% |
| ROYAL UNITED MORTGAGE LLC | $315,000 | n/a | 0.3% | |
| NAVY FEDERAL CREDIT UNION | $155,000 | $310,000 | 100.0% | 0.3% |
| Bank of America | $305,000 | n/a | 0.3% | |
| INDIANA UNIVERSITY CREDIT UNION | $305,000 | n/a | 0.3% | |
| 21ST MORTGAGE CORPORATION | $15,000 | $265,000 | 1,666.7% | 0.2% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $255,000 | n/a | 0.2% | |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $225,000 | n/a | 0.2% | |
| U.S. Bank | $70,000 | $225,000 | 221.4% | 0.2% |
| BEACON CREDIT UNION | $220,000 | n/a | 0.2% | |
| PENNYMAC LOAN SERVICES, LLC | $715,000 | $220,000 | -69.2% | 0.2% |
| MICHIGAN MUTUAL, INC. | $165,000 | $215,000 | 30.3% | 0.2% |
| The Huntington National Bank | $75,000 | $215,000 | 186.7% | 0.2% |
| First Financial Bank | $315,000 | $205,000 | -34.9% | 0.2% |
| LAKEVIEW LOAN SERVICING, LLC | $270,000 | $205,000 | -24.1% | 0.2% |
| FORT FINANCIAL Federal Credit Union | $230,000 | $195,000 | -15.2% | 0.2% |
| CALIBER HOME LOANS, INC. | $220,000 | $175,000 | -20.5% | 0.2% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $175,000 | n/a | 0.2% | |
| LOANPAL, LLC | $165,000 | n/a | 0.1% | |
| CHURCHILL MORTGAGE CORPORATION | $145,000 | n/a | 0.1% | |
| Citizens State Bank of New Castle | $245,000 | $140,000 | -42.9% | 0.1% |
| Fire Police City County Federal Credit Union | $135,000 | n/a | 0.1% | |
| NBKC BANK | $135,000 | n/a | 0.1% | |
| Prosperity Home Mortgage, LLC | $135,000 | n/a | 0.1% | |
| TOWNE MORTGAGE COMPANY | $125,000 | n/a | 0.1% | |
| UNITED WHOLESALE MORTGAGE, LLC | $160,000 | $125,000 | -21.9% | 0.1% |
| The Garrett State Bank | $120,000 | n/a | 0.1% | |
| CARDINAL FINANCIAL | $560,000 | $105,000 | -81.3% | 0.1% |
| WRIGHT-PATT CREDIT UNION, INC. | $105,000 | n/a | 0.1% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $130,000 | $95,000 | -26.9% | 0.1% |
| AMERICAN FINANCING CORPORATION | $260,000 | $75,000 | -71.2% | 0.1% |
| Paramount Residential Mortgage Group, Inc. | $75,000 | n/a | 0.1% | |
| Carrington Mortgage Services, LLC | $605,000 | $65,000 | -89.3% | 0.1% |
| Regions Bank | $515,000 | $55,000 | -89.3% | 0.0% |
| First Financial Bank | $315,000 | $25,000 | -92.1% | 0.0% |
| KEMBA CREDIT UNION, INC. | $15,000 | n/a | 0.0% |
Bluffton's top lender by overall market share is Barings Multifamily Capital, with 17.3% market share. In second place, with 9.9%, is RUOFF MORTGAGE COMPANY, INC., having originated $10,965,000 in loans. In third place, with 9.6%, is Three Rivers Federal Credit Union, having originated $10,605,000 in loans. In fourth place, with 7.1%, is THRIVE MORTGAGE, LLC, having originated $7,890,000 in loans. In fifth place, with 6.3%, is First Merchants Bank, having originated $6,930,000 in loans.
Bluffton, IN Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 323 | $78,345,000 | $242,554 |
| Other | 110 | $7,850,000 | $71,364 |
| Cash Out Refi | 89 | $12,065,000 | $135,562 |
| Home Improvement | 80 | $5,750,000 | $71,875 |
| Refi | 59 | $6,665,000 | $112,966 |
Bluffton's most frequently cited loan purpose was Home Purchase, with 323 originations. The 2nd most popular reason was Other, with 110 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 199 | $28,505,000 | $143,241 |
| 6-7% | 193 | $33,645,000 | $174,326 |
| Over 8% | 165 | $12,085,000 | $73,242 |
| 5-6% | 71 | $31,775,000 | $447,535 |
| 4-5% | 6 | $1,440,000 | $240,000 |
| <2.5% | 3 | $135,000 | $45,000 |
| 3-4% | 1 | $25,000 | $25,000 |
During 2023, Bluffton's most frequently originated rate bucket was 7-8%, with 199 originations.
Loan Sizing (Bluffton, IN MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 284 | $14,370,000 | $50,599 |
| $100k-200k | 227 | $31,525,000 | $138,877 |
| $200k-400k | 123 | $32,125,000 | $261,179 |
| $400k-600k | 24 | $11,610,000 | $483,750 |
| $Over $1MM | 2 | $20,370,000 | $10,185,000 |
| $600k-1000k | 1 | $675,000 | $675,000 |
Bluffton's loan sizing saw the bucket of loans from $100,000 or less with 284 originations, totaling $14,370,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 216 | $46,060,000 | $213,241 |
| 20-40% | 116 | $9,400,000 | $81,034 |
| 60-80% | 104 | $36,490,000 | $350,865 |
| Under 20% | 86 | $3,190,000 | $37,093 |
| 40-60% | 77 | $9,455,000 | $122,792 |
| Over 100% | 6 | $1,850,000 | $308,333 |
Bluffton's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 216 originations, totaling $46,060,000 in origination value.