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 7.28% 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 6.92% and one month ago for the week of 2023-08-10, the average rate was 6.76%.

Brownsville's average rate one year ago was 5.69%.

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%
Brownsville 30 Year Fixed Rate 2023-09-14 7.28%
Brownsville 30 Year Fixed Rate Refi 2023-09-14 7.48%
Brownsville 15 Year Fixed Rate 2023-09-14 6.51%
Brownsville 15 Year Fixed Rate Refi 2023-09-14 6.61%
Brownsville 30 Year FHA 2023-09-14 6.79%
Brownsville 30 Year FHA Refi 2023-09-14 7.19%
Brownsville 30 Year USDA 2023-09-14 6.88%
Brownsville 30 Year USDA Refi 2023-09-14 7.08%
Brownsville 30 Year VA 2023-09-14 7.01%
Brownsville 30 Year VA Refi 2023-09-14 6.91%
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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 6 4.77% $5,474
EVERETT FINANCIAL, INC. 6 5.08% $2,079
Regions Bank 5 4.78% $3,499
FIRST COMMUNITY MORTGAGE, INC. 5 4.30% $4,692
MORTGAGE INVESTORS GROUP, INC. 3 5.96% $6,089
Simmons Bank 3 6.00% $2,440
Leaders Credit Union 3 5.96% $4,133
LOANDEPOT.COM, LLC 3 4.41% $5,100
Mr. Cooper ( Nationstar Mortgage ) 3 5.54% $5,932
BancorpSouth 2 5.06% $8,034
Evolve Bank & Trust 2 5.25% $3,548
Patriot Bank 2 4.81% $3,124
Trustmark National Bank 2 4.31% $3,237
FINANCE OF AMERICA MORTGAGE LLC 1 4.25% $4,098
Farm Credit Mid-America, ACA 1 7.38% $5,114
Orion Federal Credit Union 1 7.13% $3,532
Wells Fargo Bank 1 6.13% $7,279
PENNYMAC LOAN SERVICES, LLC 1 5.37% $5,862
PENTAGON FEDERAL CREDIT UNION 1 5.88% $2,919
Pinnacle Bank 1 3.38% $2,773
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.49% $7,327
Discover Bank 1 7.99% $0
RUOFF MORTGAGE COMPANY, INC. 1 5.38% $3,615
Baxter Credit Union 1 4.63% $2,519
The Bank of Fayette County 1 4.85% $2,590
LAKEVIEW LOAN SERVICING, LLC 1 6.13% $5,505
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 8.00% $4,777

Brownsville Average Closing Costs & Other Stats

Brownsville, TN's 27 lenders originated 258 loans during 2022. The total origination value was $41,240,000, with an average loan value of $159,845.

Brownsville's average closing costs are $4,515.

The top Brownsville lender as defined by loan originations is QUICKEN LOANS, LLC, with 6 loans originated. Their average total fees are $5,474, which is $3,395 higher than the next largest lender, EVERETT FINANCIAL, INC..

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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
INSOUTH Bank $2,580,000 $9,510,000 268.6% 23.1%
EVERETT FINANCIAL, INC. $1,115,000 $4,290,000 284.8% 10.4%
QUICKEN LOANS, LLC $4,320,000 $2,675,000 -38.1% 6.5%
FIRST COMMUNITY MORTGAGE, INC. $2,415,000 $2,495,000 3.3% 6.0%
Mortgage Research Center, LLC $2,375,000 $2,240,000 -5.7% 5.4%
MORTGAGE INVESTORS GROUP, INC. $1,195,000 $1,940,000 62.3% 4.7%
Regions Bank $2,155,000 $1,530,000 -29.0% 3.7%
Leaders Credit Union $3,290,000 $1,260,000 -61.7% 3.1%
Simmons Bank $1,750,000 $960,000 -45.1% 2.3%
Mr. Cooper ( Nationstar Mortgage ) $770,000 $915,000 18.8% 2.2%
Trustmark National Bank $80,000 $875,000 993.8% 2.1%
LOANDEPOT.COM, LLC $605,000 $835,000 38.0% 2.0%
VANDERBILT MORTGAGE AND FINANCE, INC. $325,000 $825,000 153.8% 2.0%
NEW DAY FINANCIAL, LLC $720,000 n/a 1.7%
PENNYMAC LOAN SERVICES, LLC $425,000 $610,000 43.5% 1.5%
Patriot Bank $635,000 $585,000 -7.9% 1.4%
BancorpSouth Bank $745,000 $560,000 -24.8% 1.4%
AMERISAVE MORTGAGE CORPORATION $520,000 n/a 1.3%
Paramount Residential Mortgage Group, Inc. $405,000 $380,000 -6.2% 0.9%
Evolve Bank & Trust $95,000 $350,000 268.4% 0.8%
CALIBER HOME LOANS, INC. $580,000 $340,000 -41.4% 0.8%
AMERICAN PACIFIC MORTGAGE CORPORATION $185,000 $325,000 75.7% 0.8%
Wells Fargo Bank $795,000 $325,000 -59.1% 0.8%
Commercial Bank & Trust Co. $510,000 $305,000 -40.2% 0.7%
Farm Credit Mid-America, ACA $235,000 $305,000 29.8% 0.7%
First Citizens National Bank $360,000 $305,000 -15.3% 0.7%
PENTAGON FEDERAL CREDIT UNION $285,000 n/a 0.7%
FREEDOM MORTGAGE CORPORATION $2,145,000 $265,000 -87.6% 0.6%
SOUTHWEST STAGE FUNDING, LLC $165,000 $265,000 60.6% 0.6%
HOMESTAR FINANCIAL CORPORATION $360,000 $245,000 -31.9% 0.6%
Centennial Bank $35,000 $240,000 585.7% 0.6%
The Bank of Fayette County $405,000 $235,000 -42.0% 0.6%
Bell Bank $230,000 n/a 0.6%
AMERICAN FINANCIAL RESOURCES, INC. $205,000 n/a 0.5%
Orion Federal Credit Union $205,000 n/a 0.5%
RUOFF MORTGAGE COMPANY, INC. $200,000 $205,000 2.5% 0.5%
FINANCE OF AMERICA MORTGAGE LLC $195,000 n/a 0.5%
Kimberly Clark Credit Union $195,000 n/a 0.5%
FirstBank $290,000 $190,000 -34.5% 0.5%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $185,000 n/a 0.4%
Wilson Bank And Trust $175,000 n/a 0.4%
21ST MORTGAGE CORPORATION $300,000 $165,000 -45.0% 0.4%
Pinnacle Bank $105,000 $160,000 52.4% 0.4%
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. $35,000 $145,000 314.3% 0.4%
LAKEVIEW LOAN SERVICING, LLC $165,000 $145,000 -12.1% 0.4%
M&T Bank $145,000 n/a 0.4%
UNITED WHOLESALE MORTGAGE, LLC $500,000 $135,000 -73.0% 0.3%
CONTOUR MORTGAGE CORPORATION $125,000 n/a 0.3%
Brighton Bank $65,000 $105,000 61.5% 0.3%
FEDEX EMPLOYEES CREDIT ASSOCIATION $175,000 $105,000 -40.0% 0.3%
LAND HOME FINANCIAL SERVICES, INC. $95,000 n/a 0.2%
Renasant Bank $380,000 $85,000 -77.6% 0.2%
ROYAL UNITED MORTGAGE LLC $450,000 $85,000 -81.1% 0.2%
BankTennessee $35,000 $65,000 85.7% 0.2%
Baxter Credit Union $65,000 n/a 0.2%
FIRST SOUTH FINANCIAL $65,000 n/a 0.2%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $145,000 $55,000 -62.1% 0.1%
Discover Bank $105,000 $45,000 -57.1% 0.1%
NAVY FEDERAL CREDIT UNION $45,000 n/a 0.1%

Brownsville's top lender by overall market share is INSOUTH Bank, with 23.1% market share. In second place, with 10.4%, is EVERETT FINANCIAL, INC., having originated $4,290,000 in loans. In third place, with 6.5%, is QUICKEN LOANS, LLC, having originated $2,675,000 in loans. In fourth place, with 6.0%, is FIRST COMMUNITY MORTGAGE, INC., having originated $2,495,000 in loans. In fifth place, with 5.4%, is Mortgage Research Center, LLC, having originated $2,240,000 in loans.

Brownsville, TN Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 130 $25,010,000 $192,385
Refi 52 $6,280,000 $120,769
Cash Out Refi 46 $7,570,000 $164,565
Home Improvement 16 $1,450,000 $90,625
Other 14 $930,000 $66,429

Brownsville's most frequently cited loan purpose was Home Purchase, with 130 originations. The 2nd most popular reason was Refi, with 52 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
5-6% 52 $8,920,000 $171,538
4-5% 44 $7,320,000 $166,364
3-4% 38 $5,860,000 $154,211
6-7% 28 $4,530,000 $161,786
7-8% 14 $2,010,000 $143,571
2.5-3% 9 $1,465,000 $162,778
<2.5% 8 $260,000 $32,500
Over 8% 6 $480,000 $80,000

During 2022, Brownsville's most frequently originated rate bucket was 5-6%, with 52 originations.

Loan Sizing (Brownsville, TN MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 110 $16,110,000 $146,455
$100,000 or less 93 $5,415,000 $58,226
$200k-400k 44 $11,690,000 $265,682
$400k-600k 6 $2,670,000 $445,000
$600k-1000k 4 $3,140,000 $785,000
$Over $1MM 1 $2,215,000 $2,215,000

Brownsville's loan sizing saw the bucket of loans from $100k-200k with 110 originations, totaling $16,110,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 106 $20,220,000 $190,755
60-80% 42 $6,020,000 $143,333
40-60% 19 $2,645,000 $139,211
Under 20% 16 $450,000 $28,125
20-40% 13 $995,000 $76,538
Over 100% 2 $440,000 $220,000

Brownsville's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 106 originations, totaling $20,220,000 in origination value.