Brownsville Mortgage Rates
30 Year Fixed Rate mortgages in Brownsville averaged
6.22%
for the week of 2022-06-23, compared to the national average of
5.81% for the same period.
The average rate for the prior week (2022-06-16) was
6.09% and
one month ago for the week of 2022-05-19, the
average rate was 5.66%.
Brownsville's average rate one year ago was 3.42%.
For refis of the same type during the week of 2022-06-23, the average rate
was 5.93%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2022-06-23 | 5.81% |
| Brownsville 30 Year Fixed Rate | 2022-06-23 | 6.22% |
| Brownsville 30 Year Fixed Rate Refi | 2022-06-23 | 5.93% |
| Brownsville 15 Year Fixed Rate | 2022-06-23 | 5.54% |
| Brownsville 15 Year Fixed Rate Refi | 2022-06-23 | 4.91% |
| Brownsville 30 Year FHA | 2022-06-23 | -0.05% |
| Brownsville 30 Year FHA Refi | 2022-06-23 | -0.16% |
| Brownsville 30 Year USDA | 2022-06-23 | -0.01% |
| Brownsville 30 Year USDA Refi | 2022-06-23 | -0.42% |
| Brownsville 30 Year VA | 2022-06-23 | 0.23% |
| Brownsville 30 Year VA Refi | 2022-06-23 | 0.02% |
Brownsville Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lendor, for only loans originated in the Brownsville, TN 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.).
Brownsville, TN's 36 lenders originated 284
loans during 2021. The total origination value was $40,160,000, with an average loan value of
$141,408.
The top Brownsville lender as defined by loan originations is QUICKEN LOANS, LLC, with
11 loans originated. Their average total fees are
$4,878, which is $2,006
higher than the next largest lender,
Leaders Credit Union.
The lowest fee Brownsville lenders (with over 10 loans originated) are
Leaders Credit Union ($2,871), QUICKEN LOANS, LLC ($4,878), .
The lowest rate Brownsville lenders (with over 10 loans originated) are
Leaders Credit Union (3.16%), QUICKEN LOANS, LLC (3.19%), .
Brownsville, TN Lender 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 | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
|---|---|---|---|---|
| QUICKEN LOANS, LLC | $4,675,000 | $4,320,000 | -7.6% | 10.8% |
| Leaders Credit Union | $2,180,000 | $3,290,000 | 50.9% | 8.2% |
| INSOUTH Bank | $2,245,000 | $2,580,000 | 14.9% | 6.4% |
| FIRST COMMUNITY MORTGAGE, INC. | $3,065,000 | $2,415,000 | -21.2% | 6.0% |
| Mortgage Research Center, LLC | $1,315,000 | $2,375,000 | 80.6% | 5.9% |
| Regions Bank | $2,105,000 | $2,155,000 | 2.4% | 5.4% |
| FREEDOM MORTGAGE CORPORATION | $1,610,000 | $2,145,000 | 33.2% | 5.3% |
| Simmons Bank | $1,340,000 | $1,750,000 | 30.6% | 4.4% |
| MORTGAGE INVESTORS GROUP, INC. | $1,390,000 | $1,195,000 | -14.0% | 3.0% |
| EVERETT FINANCIAL, INC. | $7,200,000 | $1,115,000 | -84.5% | 2.8% |
| Wells Fargo Bank | $55,000 | $795,000 | 1,345.5% | 2.0% |
| Mr. Cooper ( Nationstar Mortgage ) | $375,000 | $770,000 | 105.3% | 1.9% |
| BancorpSouth Bank | $45,000 | $745,000 | 1,555.6% | 1.9% |
| Patriot Bank | $785,000 | $635,000 | -19.1% | 1.6% |
| LOANDEPOT.COM, LLC | $115,000 | $605,000 | 426.1% | 1.5% |
| CALIBER HOME LOANS, INC. | $425,000 | $580,000 | 36.5% | 1.4% |
| Wolfe Financial, Inc | $310,000 | $575,000 | 85.5% | 1.4% |
| Commercial Bank & Trust Co. | $140,000 | $510,000 | 264.3% | 1.3% |
| UNITED WHOLESALE MORTGAGE, LLC | $115,000 | $500,000 | 334.8% | 1.2% |
| Hometown Lenders, Inc. | $495,000 | n/a | 1.2% | |
| ROYAL UNITED MORTGAGE LLC | $130,000 | $450,000 | 246.2% | 1.1% |
| PENNYMAC LOAN SERVICES, LLC | $705,000 | $425,000 | -39.7% | 1.1% |
| CHURCHILL MORTGAGE CORPORATION | $335,000 | $410,000 | 22.4% | 1.0% |
| Paramount Residential Mortgage Group, Inc. | $55,000 | $405,000 | 636.4% | 1.0% |
| The Bank of Fayette County | $135,000 | $405,000 | 200.0% | 1.0% |
| Renasant Bank | $380,000 | n/a | 0.9% | |
| BETTER MORTGAGE CORPORATION | $360,000 | n/a | 0.9% | |
| First Citizens National Bank | $330,000 | $360,000 | 9.1% | 0.9% |
| HOMESTAR FINANCIAL CORPORATION | $360,000 | n/a | 0.9% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $405,000 | $325,000 | -19.8% | 0.8% |
| AMERICAN MORTGAGE SERVICES INCORPORATED | $260,000 | $305,000 | 17.3% | 0.8% |
| 21ST MORTGAGE CORPORATION | $265,000 | $300,000 | 13.2% | 0.7% |
| FirstBank | $375,000 | $290,000 | -22.7% | 0.7% |
| NEWREZ LLC | $270,000 | n/a | 0.7% | |
| COMMUNITY MORTGAGE CORPORATION | $895,000 | $250,000 | -72.1% | 0.6% |
| Memphis City Employees Credit Union | $245,000 | n/a | 0.6% | |
| Farm Credit Mid-America, ACA | $275,000 | $235,000 | -14.5% | 0.6% |
| VILLAGE CAPITAL & INVESTMENT LLC | $220,000 | $230,000 | 4.5% | 0.6% |
| Hometown Equity Mortgage, LLC | $220,000 | n/a | 0.5% | |
| AMERICAN MORTGAGE SERVICE COMPANY | $210,000 | n/a | 0.5% | |
| First Option Mortgage, LLC | $205,000 | n/a | 0.5% | |
| RUOFF MORTGAGE COMPANY, INC. | $200,000 | n/a | 0.5% | |
| Deere Employees Credit Union | $190,000 | n/a | 0.5% | |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $185,000 | n/a | 0.5% | |
| GUILD MORTGAGE COMPANY | $185,000 | n/a | 0.5% | |
| Northpointe Bank | $180,000 | n/a | 0.4% | |
| FEDEX EMPLOYEES CREDIT ASSOCIATION | $175,000 | n/a | 0.4% | |
| First Horizon Bank | $175,000 | n/a | 0.4% | |
| LAKEVIEW LOAN SERVICING, LLC | $165,000 | n/a | 0.4% | |
| SOUTHWEST STAGE FUNDING, LLC | $165,000 | n/a | 0.4% | |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $55,000 | $145,000 | 163.6% | 0.4% |
| AMERICAN FINANCING CORPORATION | $125,000 | n/a | 0.3% | |
| A Mortgage Boutique, LLC | $195,000 | $125,000 | -35.9% | 0.3% |
| BROKER SOLUTIONS, INC. | $135,000 | $115,000 | -14.8% | 0.3% |
| PLANET HOME LENDING, LLC | $115,000 | n/a | 0.3% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $155,000 | $115,000 | -25.8% | 0.3% |
| 1ST SIGNATURE LENDING, LLC | $105,000 | n/a | 0.3% | |
| Discover Bank | $105,000 | n/a | 0.3% | |
| Pinnacle Bank | $105,000 | n/a | 0.3% | |
| SWBC MORTGAGE CORPORATION | $105,000 | n/a | 0.3% | |
| Evolve Bank & Trust | $95,000 | n/a | 0.2% | |
| TRIAD FINANCIAL SERVICES, INC. | $95,000 | n/a | 0.2% | |
| Carrington Mortgage Services, LLC | $245,000 | $85,000 | -65.3% | 0.2% |
| Trustmark National Bank | $55,000 | $80,000 | 45.5% | 0.2% |
| American Mortgage & Equity Consultants, Inc. | $75,000 | n/a | 0.2% | |
| CB&S Bank, Inc. | $75,000 | n/a | 0.2% | |
| JPMorgan Chase Bank | $75,000 | n/a | 0.2% | |
| Legends Bank | $75,000 | n/a | 0.2% | |
| Peoples National Bank , N.A. | $75,000 | n/a | 0.2% | |
| Brighton Bank | $65,000 | n/a | 0.2% | |
| Citizens Bank | $55,000 | n/a | 0.1% | |
| Flagstar Bank, FSB | $55,000 | n/a | 0.1% | |
| LENDINGHOME FUNDING CORPORATION | $55,000 | n/a | 0.1% | |
| Triumph Bank | $185,000 | $55,000 | -70.3% | 0.1% |
| AMERICAN ADVISORS GROUP | $35,000 | n/a | 0.1% | |
| BankTennessee | $35,000 | $35,000 | 0.0% | 0.1% |
| Centennial Bank | $55,000 | $35,000 | -36.4% | 0.1% |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $35,000 | n/a | 0.1% | |
| U.S. Bank | $35,000 | n/a | 0.1% |
Brownsville's top lender by overall market share is QUICKEN LOANS, LLC, with 10.8% market share. In second place, with 8.2%, is Leaders Credit Union, having originated $3,290,000 in loans. In third place, with 6.4%, is INSOUTH Bank, having originated $2,580,000 in loans. In third place, with 6.0%, is FIRST COMMUNITY MORTGAGE, INC., having originated $2,415,000 in loans. In third place, with 5.9%, is Mortgage Research Center, LLC, having originated $2,375,000 in loans.
Brownsville, TN Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 148 | $22,130,000 | $149,527 |
| Refi | 89 | $11,865,000 | $133,315 |
| Cash Out Refi | 43 | $5,995,000 | $139,419 |
| Other | 4 | $170,000 | $42,500 |
Brownsville's most frequently cited loan purpose was Home Purchase, with 148 originations. The 2nd most popular reason was Refi, with 89 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 95 | $13,475,000 | $141,842 |
| 2.5-3% | 93 | $14,475,000 | $155,645 |
| <2.5% | 36 | $6,180,000 | $171,667 |
| 4-5% | 19 | $1,765,000 | $92,895 |
| 5-6% | 6 | $680,000 | $113,333 |
| 7-8% | 4 | $270,000 | $67,500 |
| 6-7% | 1 | $55,000 | $55,000 |
| Over 8% | 1 | $35,000 | $35,000 |
During 2021, Brownsville's most frequently originated rate bucket was 3-4%, with 95 originations.
Loan Sizing (Brownsville, TN MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 127 | $17,585,000 | $138,465 |
| $100,000 or less | 96 | $6,040,000 | $62,917 |
| $200k-400k | 59 | $15,645,000 | $265,169 |
| $400k-600k | 2 | $890,000 | $445,000 |
Brownsville's loan sizing saw the bucket of loans from $100k-200k with 127 originations, totaling $17,585,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 129 | $20,885,000 | $161,899 |
| 60-80% | 64 | $8,680,000 | $135,625 |
| 40-60% | 28 | $2,980,000 | $106,429 |
| 20-40% | 10 | $720,000 | $72,000 |
| Under 20% | 5 | $75,000 | $15,000 |
| Over 100% | 3 | $815,000 | $271,667 |
Brownsville's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 129 originations, totaling $20,885,000 in origination value.
