Brownsville Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Brownsville averaged 6.89% for the week of 2024-06-06, compared to the national average of 6.99% for the same period.

The average rate for the prior week (2024-05-30) was 7.23% and one month ago for the week of 2024-05-02, the average rate was 7.32%.

Brownsville's average rate one year ago was 6.79%.

For refis of the same type during the week of 2024-06-06, the average rate was 7.39%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-06-06 6.99%
Brownsville 30 Year Fixed Rate 2024-06-06 6.89%
Brownsville 30 Year Fixed Rate Refi 2024-06-06 7.39%
Brownsville 15 Year Fixed Rate 2024-06-06 6.29%
Brownsville 15 Year Fixed Rate Refi 2024-06-06 6.69%
Brownsville 30 Year FHA 2024-06-06 6.79%
Brownsville 30 Year FHA Refi 2024-06-06 6.89%
Brownsville 30 Year USDA 2024-06-06 6.6%
Brownsville 30 Year USDA Refi 2024-06-06 6.9%
Brownsville 30 Year VA 2024-06-06 6.59%
Brownsville 30 Year VA Refi 2024-06-06 6.19%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Brownsville, TN.

Brownsville 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 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.).

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 6 6.54% $7,312
Regions Bank 3 6.46% $3,703
Simmons Bank 3 6.83% $2,893
First Option Mortgage, LLC 2 8.13% $6,231
Farm Credit Mid-America, ACA 2 7.06% $7,380
FIRST COMMUNITY MORTGAGE, INC. 2 6.63% $8,700
GENISYS 1 6.50% $3,131
Independent Bank 1 6.25% $3,206
JPMorgan Chase Bank 1 7.13% $4,592
Leaders Credit Union 1 7.63% $3,885
MORTGAGE INVESTORS GROUP, INC. 1 6.13% $3,344
Mr. Cooper ( Nationstar Mortgage ) 1 7.13% $4,420
NAVY FEDERAL CREDIT UNION 1 7.50% $1,820
Patriot Bank 1 6.63% $3,907
Royal Credit Union 1 5.50% $3,489
SIRVA MORTGAGE, INC. 1 6.25% $0
U.S. Bank 1 7.50% $3,929
BancorpSouth 1 7.88% $2,769
VANDERBILT MORTGAGE AND FINANCE, INC. 1 8.25% $6,900
BAY-VALLEY MORTGAGE GROUP 1 6.50% $9,526
Carrington Mortgage Services, LLC 1 5.75% $5,241
COMPASS MORTGAGE, INC. 1 6.99% $4,149
Deere Employees Credit Union 1 5.88% $2,636
EVERETT FINANCIAL, INC. 1 6.88% $3,617

Brownsville Average Closing Costs & Other Stats

Brownsville, TN's 24 lenders originated 234 loans during 2023. The total origination value was $35,300,000, with an average loan value of $150,855.

Brownsville's average closing costs are $4,877.

The top Brownsville lender as defined by loan originations is QUICKEN LOANS, LLC, with 6 loans originated. Their average total fees are $7,312, which is $3,609 higher than the next largest lender, Regions Bank.

The lowest fee Brownsville lenders (with over 10 loans originated) are .

The lowest rate Brownsville lenders (with over 10 loans originated) are .

Brownsville, TN 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
INSOUTH Bank $9,510,000 $5,100,000 -46.4% 14.4%
EVERETT FINANCIAL, INC. $4,290,000 $3,470,000 -19.1% 9.8%
QUICKEN LOANS, LLC $2,675,000 $3,200,000 19.6% 9.1%
FIRST COMMUNITY MORTGAGE, INC. $2,495,000 $2,725,000 9.2% 7.7%
Decatur County Bank $2,070,000 n/a 5.9%
Leaders Credit Union $1,260,000 $1,495,000 18.7% 4.2%
Regions Bank $1,530,000 $1,315,000 -14.1% 3.7%
Mortgage Research Center, LLC $2,240,000 $1,095,000 -51.1% 3.1%
Farm Credit Mid-America, ACA $305,000 $945,000 209.8% 2.7%
BANK OF CROCKETT $925,000 n/a 2.6%
21ST MORTGAGE CORPORATION $165,000 $805,000 387.9% 2.3%
BankTennessee $65,000 $710,000 992.3% 2.0%
Simmons Bank $960,000 $665,000 -30.7% 1.9%
VANDERBILT MORTGAGE AND FINANCE, INC. $825,000 $580,000 -29.7% 1.6%
Carroll Bank and Trust $560,000 n/a 1.6%
PENNYMAC LOAN SERVICES, LLC $610,000 $465,000 -23.8% 1.3%
NAVY FEDERAL CREDIT UNION $45,000 $435,000 866.7% 1.2%
Patriot Bank $585,000 $415,000 -29.1% 1.2%
Renasant Bank $85,000 $405,000 376.5% 1.1%
Mr. Cooper ( Nationstar Mortgage ) $915,000 $370,000 -59.6% 1.0%
The Federal Savings Bank $355,000 n/a 1.0%
The Bank of Fayette County $235,000 $305,000 29.8% 0.9%
LOANDEPOT.COM, LLC $835,000 $300,000 -64.1% 0.8%
U.S. Bank $275,000 n/a 0.8%
US MORTGAGE CORPORATION $275,000 n/a 0.8%
UNITED WHOLESALE MORTGAGE, LLC $135,000 $260,000 92.6% 0.7%
MID AMERICA MORTGAGE, INC. $255,000 n/a 0.7%
SILVER HILL FUNDING, LLC $250,000 n/a 0.7%
BAY-VALLEY MORTGAGE GROUP $245,000 n/a 0.7%
Paramount Residential Mortgage Group, Inc. $380,000 $245,000 -35.5% 0.7%
AMERICAN FINANCIAL RESOURCES, INC. $205,000 $235,000 14.6% 0.7%
First Option Mortgage, LLC $230,000 n/a 0.7%
Orion Federal Credit Union $205,000 $230,000 12.2% 0.7%
JPMorgan Chase Bank $225,000 n/a 0.6%
BancorpSouth $560,000 $205,000 -63.4% 0.6%
Independent Bank $205,000 n/a 0.6%
MORTGAGE INVESTORS GROUP, INC. $1,940,000 $205,000 -89.4% 0.6%
Deere Employees Credit Union $200,000 n/a 0.6%
COMPASS MORTGAGE, INC. $195,000 n/a 0.6%
SIRVA MORTGAGE, INC. $195,000 n/a 0.6%
GENISYS $185,000 n/a 0.5%
BROKER SOLUTIONS, INC. $175,000 n/a 0.5%
EMM LOANS LLC $175,000 n/a 0.5%
NEW DAY FINANCIAL, LLC $720,000 $155,000 -78.5% 0.4%
Royal Credit Union $155,000 n/a 0.4%
ANGEL OAK MORTGAGE SOLUTIONS LLC $145,000 n/a 0.4%
NEWREZ LLC $135,000 n/a 0.4%
Bank of Ripley $130,000 n/a 0.4%
Bank of America $125,000 n/a 0.4%
CU COMMUNITY, LLC $125,000 n/a 0.4%
THRIVE MORTGAGE, LLC $125,000 n/a 0.4%
Brighton Bank $105,000 $105,000 0.0% 0.3%
GENEVA FINANCIAL, LLC $105,000 n/a 0.3%
Carrington Mortgage Services, LLC $85,000 n/a 0.2%
SOUTHWEST STAGE FUNDING, LLC $265,000 $85,000 -67.9% 0.2%
First Citizens National Bank $305,000 $75,000 -75.4% 0.2%
McKenzie Banking Company $75,000 n/a 0.2%
LAKEVIEW LOAN SERVICING, LLC $145,000 $65,000 -55.2% 0.2%
THE PEOPLES BANK $55,000 n/a 0.2%
Commercial Bank & Trust Co. $305,000 $45,000 -85.2% 0.1%
PHH Mortgage Corporation $45,000 n/a 0.1%
Figure Lending LLC $35,000 n/a 0.1%
CB&S Bank, Inc. $15,000 n/a 0.0%

Brownsville's top lender by overall market share is INSOUTH Bank, with 14.4% market share. In second place, with 9.8%, is EVERETT FINANCIAL, INC., having originated $3,470,000 in loans. In third place, with 9.1%, is QUICKEN LOANS, LLC, having originated $3,200,000 in loans. In fourth place, with 7.7%, is FIRST COMMUNITY MORTGAGE, INC., having originated $2,725,000 in loans. In fifth place, with 5.9%, is Decatur County Bank, having originated $2,070,000 in loans.

Brownsville, TN Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 118 $19,920,000 $168,814
Refi 46 $7,800,000 $169,565
Cash Out Refi 36 $5,740,000 $159,444
Other 18 $1,070,000 $59,444
Home Improvement 16 $770,000 $48,125

Brownsville's most frequently cited loan purpose was Home Purchase, with 118 originations. The 2nd most popular reason was Refi, with 46 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 76 $12,750,000 $167,763
Over 8% 36 $3,210,000 $89,167
7-8% 31 $5,345,000 $172,419
5-6% 22 $3,570,000 $162,273
<2.5% 9 $45,000 $5,000
4-5% 2 $590,000 $295,000

During 2023, Brownsville's most frequently originated rate bucket was 6-7%, with 76 originations.

Loan Sizing (Brownsville, TN MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 91 $4,665,000 $51,264
$100k-200k 87 $12,705,000 $146,034
$200k-400k 46 $11,650,000 $253,261
$400k-600k 7 $3,195,000 $456,429
$600k-1000k 2 $1,380,000 $690,000
$Over $1MM 1 $1,705,000 $1,705,000

Brownsville's loan sizing saw the bucket of loans from $100,000 or less with 91 originations, totaling $4,665,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 85 $15,785,000 $185,706
60-80% 38 $6,100,000 $160,526
Under 20% 20 $370,000 $18,500
40-60% 17 $1,825,000 $107,353
20-40% 13 $825,000 $63,462
Over 100% 3 $605,000 $201,667

Brownsville's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 85 originations, totaling $15,785,000 in origination value.