Cleveland Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Cleveland averaged
6.89%
for the week of 2024-12-05, compared to the national average of
6.69% for the same period.
The average rate for the prior week (2024-11-27) was
6.71% and
one month ago for the week of 2024-10-31, the
average rate was 6.82%.
Cleveland's average rate one year ago was 7.02%.
For refis of the same type during the week of 2024-12-05, the average rate
was 6.99%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-12-05 | 6.69% |
Cleveland 30 Year Fixed Rate | 2024-12-05 | 6.89% |
Cleveland 30 Year Fixed Rate Refi | 2024-12-05 | 6.99% |
Cleveland 15 Year Fixed Rate | 2024-12-05 | 6.16% |
Cleveland 15 Year Fixed Rate Refi | 2024-12-05 | 5.96% |
Cleveland 30 Year FHA | 2024-12-05 | 6.16% |
Cleveland 30 Year FHA Refi | 2024-12-05 | 6.46% |
Cleveland 30 Year USDA | 2024-12-05 | 6.53% |
Cleveland 30 Year USDA Refi | 2024-12-05 | 6.33% |
Cleveland 30 Year VA | 2024-12-05 | 6.14% |
Cleveland 30 Year VA Refi | 2024-12-05 | 6.24% |
Cleveland 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 Cleveland, MS 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 |
---|---|---|---|
BancorpSouth | 16 | 6.69% | $4,501 |
QUICKEN LOANS, LLC | 7 | 6.85% | $8,204 |
EUSTIS AND AMERICAN MORTGAGE COMPANY | 4 | 6.69% | $3,647 |
Baxter Credit Union | 3 | 6.58% | $3,643 |
UNITED WHOLESALE MORTGAGE, LLC | 2 | 7.18% | $4,353 |
Bank of England | 2 | 7.06% | $3,785 |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 2 | 6.75% | $4,304 |
FIDELITY BANK | 2 | 6.94% | $6,062 |
PENNYMAC LOAN SERVICES, LLC | 2 | 5.87% | $4,218 |
Regions Bank | 2 | 6.81% | $4,649 |
Renasant Bank | 2 | 7.19% | $3,750 |
Hawthorn Bank | 1 | 6.38% | $3,270 |
JPMorgan Chase Bank | 1 | 6.88% | $3,671 |
MUTUAL OF OMAHA MORTGAGE, INC. | 1 | 6.88% | $6,867 |
NAVY FEDERAL CREDIT UNION | 1 | 8.00% | $2,722 |
Origin Bank | 1 | 7.63% | $2,795 |
STOCKTON MORTGAGE CORPORATION | 1 | 7.13% | $9,486 |
Beeline Loans, Inc. | 1 | 7.13% | $4,642 |
Community Bank of Mississippi | 1 | 6.00% | $5,390 |
Centennial Bank | 1 | 7.63% | $3,674 |
Trustmark National Bank | 1 | 7.00% | $4,328 |
BankPlus | 1 | 7.13% | $3,514 |
FIRST COMMUNITY MORTGAGE, INC. | 1 | 6.88% | $5,065 |
Cleveland Average Closing Costs & Other Stats
Cleveland, MS's 23 lenders originated 266
loans during 2023. The total origination value was $36,730,000, with an average loan value of
$138,083.
Cleveland's average closing costs are $4,643.
The top Cleveland lender as defined by loan originations is BancorpSouth, with
16 loans originated. Their average total fees are
$4,501, which is $3,703
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Cleveland lenders (with over 10 loans originated) are
BancorpSouth ($4,501), .
The lowest rate Cleveland lenders (with over 10 loans originated) are
BancorpSouth (6.69%), .
Cleveland, MS 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 |
---|---|---|---|---|
Planters Bank & Trust Company | $8,060,000 | $7,350,000 | -8.8% | 20.0% |
BancorpSouth | $4,930,000 | $6,605,000 | 34.0% | 18.0% |
QUICKEN LOANS, LLC | $3,970,000 | $3,235,000 | -18.5% | 8.8% |
Regions Bank | $610,000 | $1,950,000 | 219.7% | 5.3% |
Renasant Bank | $3,450,000 | $1,880,000 | -45.5% | 5.1% |
BankPlus | $1,690,000 | $1,580,000 | -6.5% | 4.3% |
Mortgage Research Center, LLC | $660,000 | $1,435,000 | 117.4% | 3.9% |
Southern Bancorp Bank | $1,065,000 | $1,175,000 | 10.3% | 3.2% |
Baxter Credit Union | $935,000 | $1,165,000 | 24.6% | 3.2% |
Guaranty Bank and Trust Company | $6,380,000 | $1,045,000 | -83.6% | 2.8% |
EUSTIS AND AMERICAN MORTGAGE COMPANY | $860,000 | n/a | 2.3% | |
USAA Federal Savings Bank | $115,000 | $765,000 | 565.2% | 2.1% |
FIDELITY BANK | $955,000 | $755,000 | -20.9% | 2.1% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $715,000 | $685,000 | -4.2% | 1.9% |
FIRST COMMUNITY MORTGAGE, INC. | $505,000 | n/a | 1.4% | |
Citizens Bank | $2,050,000 | $410,000 | -80.0% | 1.1% |
PriorityOne Bank | $1,170,000 | $330,000 | -71.8% | 0.9% |
UNITED WHOLESALE MORTGAGE, LLC | $145,000 | $310,000 | 113.8% | 0.8% |
Flagstar Bank, FSB | $125,000 | $300,000 | 140.0% | 0.8% |
STOCKTON MORTGAGE CORPORATION | $265,000 | n/a | 0.7% | |
Bank of England | $260,000 | n/a | 0.7% | |
Community Bank of Mississippi | $525,000 | $255,000 | -51.4% | 0.7% |
BROKER SOLUTIONS, INC. | $235,000 | n/a | 0.6% | |
TRIAD FINANCIAL SERVICES, INC. | $140,000 | $235,000 | 67.9% | 0.6% |
PENNYMAC LOAN SERVICES, LLC | $300,000 | $230,000 | -23.3% | 0.6% |
MYCUMORTGAGE, LLC | $215,000 | n/a | 0.6% | |
Nations Lending Corporation | $190,000 | $190,000 | 0.0% | 0.5% |
NAVY FEDERAL CREDIT UNION | $185,000 | n/a | 0.5% | |
Peoples Bank | $185,000 | n/a | 0.5% | |
SWBC MORTGAGE CORPORATION | $175,000 | n/a | 0.5% | |
COMMUNITY MORTGAGE CORPORATION | $165,000 | n/a | 0.4% | |
Troy Bank and Trust Company | $165,000 | n/a | 0.4% | |
COUNTRYPLACE MORTGAGE, LTD. | $125,000 | $145,000 | 16.0% | 0.4% |
GMFS LLC | $350,000 | $145,000 | -58.6% | 0.4% |
Hawthorn Bank | $145,000 | n/a | 0.4% | |
Bank of America | $105,000 | $135,000 | 28.6% | 0.4% |
CIS Financial Services, Inc. | $125,000 | $135,000 | 8.0% | 0.4% |
ROYAL UNITED MORTGAGE LLC | $105,000 | n/a | 0.3% | |
UNION HOME MORTGAGE CORP. | $105,000 | n/a | 0.3% | |
Beeline Loans, Inc. | $95,000 | n/a | 0.3% | |
Trustmark National Bank | $255,000 | $90,000 | -64.7% | 0.2% |
MUTUAL OF OMAHA MORTGAGE, INC. | $85,000 | n/a | 0.2% | |
CB&S Bank, Inc. | $75,000 | n/a | 0.2% | |
Origin Bank | $75,000 | n/a | 0.2% | |
United Community Bank | $85,000 | $75,000 | -11.8% | 0.2% |
Centennial Bank | $65,000 | n/a | 0.2% | |
JPMorgan Chase Bank | $540,000 | $55,000 | -89.8% | 0.1% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $315,000 | $55,000 | -82.5% | 0.1% |
CSL Financial, LLC | $45,000 | n/a | 0.1% |
Cleveland's top lender by overall market share is Planters Bank & Trust Company, with 20.0% market share. In second place, with 18.0%, is BancorpSouth, having originated $6,605,000 in loans. In third place, with 8.8%, is QUICKEN LOANS, LLC, having originated $3,235,000 in loans. In fourth place, with 5.3%, is Regions Bank, having originated $1,950,000 in loans. In fifth place, with 5.1%, is Renasant Bank, having originated $1,880,000 in loans.
Cleveland Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Cleveland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $130,000 (4.2%) | $198,390 (17.1%) | 0.00 | 51 |
2018-02-01 | $126,500 (0.6%) | $175,747 (0.3%) | 0.00 | 59 |
2018-03-01 | $128,000 (-7.6%) | $174,251 (-0.8%) | 0.00 | 55 |
2018-04-01 | $128,750 (-13.6%) | $168,317 (-10.0%) | 0.00 | 60 |
2018-05-01 | $139,500 (-3.8%) | $176,259 (-4.2%) | 0.00 | 64 |
2018-06-01 | $160,000 (4.2%) | $185,115 (-3.4%) | 0.00 | 62 |
2018-07-01 | $150,475 (-5.4%) | $173,085 (-14.1%) | 0.00 | 71 |
2018-08-01 | $149,125 (1.2%) | $170,846 (-21.3%) | 0.00 | 68 |
2018-09-01 | $150,750 (11.7%) | $174,215 (-16.2%) | 0.00 | 60 |
2018-10-01 | $150,950 (6.1%) | $176,390 (-14.4%) | 0.00 | 62 |
2018-11-01 | $142,250 (4.5%) | $168,158 (-17.2%) | 0.00 | 63 |
2018-12-01 | $139,900 (7.6%) | $167,827 (-14.8%) | 0.00 | 67 |
2019-01-01 | $131,200 (0.9%) | $157,319 (-20.7%) | 0.00 | 75 |
2019-02-01 | $135,600 (7.2%) | $159,755 (-9.1%) | 0.00 | 76 |
2019-03-01 | $138,664 (8.3%) | $157,491 (-9.6%) | 0.00 | 74 |
2019-04-01 | $135,189 (5.0%) | $153,512 (-8.8%) | 0.00 | 68 |
2019-05-01 | $145,750 (4.5%) | $168,263 (-4.5%) | 0.00 | 67 |
2019-06-01 | $143,000 (-10.6%) | $164,223 (-11.3%) | 0.00 | 59 |
2019-07-01 | $143,500 (-4.6%) | $174,870 (1.0%) | 0.00 | 51 |
2019-08-01 | $145,905 (-2.2%) | $178,925 (4.7%) | 0.00 | 49 |
2019-09-01 | $139,911 (-7.2%) | $170,755 (-2.0%) | 0.00 | 49 |
2019-10-01 | $133,100 (-11.8%) | $164,409 (-6.8%) | 0.00 | 49 |
2019-11-01 | $140,000 (-1.6%) | $174,268 (3.6%) | 0.00 | 48 |
2019-12-01 | $143,750 (2.8%) | $181,226 (8.0%) | 0.00 | 51 |
2020-01-01 | $141,750 (8.0%) | $179,136 (13.9%) | 0.00 | 44 |
2020-02-01 | $137,500 (1.4%) | $174,756 (9.4%) | 0.00 | 45 |
2020-03-01 | $140,500 (1.3%) | $186,754 (18.6%) | 0.00 | 47 |
2020-04-01 | $143,875 (6.4%) | $182,801 (19.1%) | 0.00 | 47 |
2020-05-01 | $137,750 (-5.5%) | $177,932 (5.8%) | 0.00 | 42 |
2020-06-01 | $157,475 (10.1%) | $196,240 (19.5%) | 0.00 | 42 |
2020-07-01 | $157,250 (9.6%) | $181,947 (4.1%) | 0.00 | 43 |
2020-08-01 | $164,500 (12.7%) | $194,438 (8.7%) | 0.00 | 35 |
2020-09-01 | $150,100 (7.3%) | $187,392 (9.7%) | 0.00 | 33 |
2020-10-01 | $146,200 (9.8%) | $188,116 (14.4%) | 0.00 | 39 |
2020-11-01 | $156,800 (12.0%) | $181,693 (4.3%) | 0.00 | 51 |
2020-12-01 | $159,975 (11.3%) | $188,247 (3.9%) | 0.00 | 47 |
2021-01-01 | $138,200 (-2.5%) | $181,367 (1.3%) | 0.00 | 37 |
2021-02-01 | $162,450 (18.2%) | $218,629 (25.1%) | 0.00 | 34 |
2021-03-01 | $188,000 (33.8%) | $249,712 (33.7%) | 0.00 | 30 |
2021-04-01 | $192,125 (33.5%) | $249,233 (36.3%) | 0.00 | 28 |
2021-05-01 | $195,000 (41.6%) | $232,038 (30.4%) | 0.00 | 24 |
2021-06-01 | $177,475 (12.7%) | $229,092 (16.7%) | 0.00 | 24 |
2021-07-01 | $165,000 (4.9%) | $202,586 (11.3%) | 0.00 | 21 |
2021-08-01 | $159,925 (-2.8%) | $197,425 (1.5%) | 0.00 | 28 |
2021-09-01 | $159,925 (6.6%) | $187,648 (0.1%) | 0.00 | 28 |
2021-10-01 | $161,750 (10.6%) | $185,722 (-1.3%) | 0.00 | 23 |
2021-11-01 | $159,375 (1.6%) | $193,332 (6.4%) | 0.00 | 30 |
2021-12-01 | $141,625 (-11.5%) | $187,144 (-0.6%) | 0.00 | 30 |
2022-01-01 | $145,000 (4.9%) | $200,334 (10.5%) | 0.00 | 26 |
2022-02-01 | $164,950 (1.5%) | $199,370 (-8.8%) | 0.00 | 39 |
2022-03-01 | $154,975 (-17.6%) | $205,066 (-17.9%) | 0.00 | 42 |
2022-04-01 | $149,500 (-22.2%) | $206,295 (-17.2%) | 0.00 | 37 |
2022-05-01 | $149,875 (-23.1%) | $190,928 (-17.7%) | 0.00 | 39 |
2022-06-01 | $147,500 (-16.9%) | $178,301 (-22.2%) | 0.00 | 42 |
2022-07-01 | $156,000 (-5.5%) | $198,349 (-2.1%) | 0.00 | 45 |
2022-08-01 | $167,000 (4.4%) | $201,537 (2.1%) | 0.00 | 43 |
2022-09-01 | $169,500 (6.0%) | $203,929 (8.7%) | 0.00 | 46 |
2022-10-01 | $175,000 (8.2%) | $210,944 (13.6%) | 0.00 | 39 |
2022-11-01 | $175,000 (9.8%) | $202,376 (4.7%) | 0.00 | 37 |
2022-12-01 | $179,900 (27.0%) | $207,988 (11.1%) | 0.00 | 42 |
2023-01-01 | $175,000 (20.7%) | $215,751 (7.7%) | 0.00 | 36 |
2023-02-01 | $190,000 (15.2%) | $242,315 (21.5%) | 0.00 | 35 |
2023-03-01 | $190,000 (22.6%) | $249,749 (21.8%) | 0.00 | 36 |
2023-04-01 | $190,000 (27.1%) | $254,049 (23.2%) | 0.00 | 43 |
2023-05-01 | $194,550 (29.8%) | $253,380 (32.7%) | 0.00 | 41 |
2023-06-01 | $206,625 (40.1%) | $250,891 (40.7%) | 0.00 | 42 |
2023-07-01 | $215,000 (37.8%) | $243,890 (23.0%) | 0.00 | 43 |
2023-08-01 | $192,000 (15.0%) | $223,071 (10.7%) | 0.00 | 46 |
2023-09-01 | $158,500 (-6.5%) | $191,828 (-5.9%) | 0.00 | 59 |
2023-10-01 | $166,250 (-5.0%) | $184,096 (-12.7%) | 0.00 | 57 |
2023-11-01 | $152,000 (-13.1%) | $173,457 (-14.3%) | 0.00 | 55 |
2023-12-01 | $150,000 (-16.6%) | $176,570 (-15.1%) | 0.00 | 54 |
2024-01-01 | $145,000 (-17.1%) | $175,261 (-18.8%) | 0.00 | 56 |
2024-02-01 | $147,500 (-22.4%) | $180,385 (-25.6%) | 0.00 | 50 |
2024-03-01 | $150,000 (-21.1%) | $188,707 (-24.4%) | 0.00 | 54 |
2024-04-01 | $157,500 (-17.1%) | $193,260 (-23.9%) | 0.00 | 58 |
2024-05-01 | $176,875 (-9.1%) | $194,287 (-23.3%) | 0.00 | 65 |
2024-06-01 | $169,200 (-18.1%) | $191,858 (-23.5%) | 0.00 | 64 |
2024-07-01 | $168,500 (-21.6%) | $210,685 (-13.6%) | 0.00 | 61 |
2024-08-01 | $172,500 (-10.2%) | $212,008 (-5.0%) | 0.00 | 64 |
2024-09-01 | $175,000 (10.4%) | $218,677 (14.0%) | 0.00 | 65 |
2024-10-01 | $176,350 (6.1%) | $219,542 (19.3%) | 0.00 | 75 |
2024-11-01 | $179,900 (18.4%) | $227,776 (31.3%) | 0.00 | 73 |
Cleveland's median listing price comes in at 0% of the national average.
Cleveland's average listing price for 2024-11-01 was $227,776, a difference of $54,319 (31.3%) versus the prior year and $8,234 versus the prior month.
For the 2024-11-01 period, Cleveland had 73 MLS listings, a difference of -2 listings (-3%) versus the prior month and 18 listings (33%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Cleveland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,920 sqft |
2018-02-01 | 0 days | 1,691 sqft |
2018-03-01 | 0 days | 1,693 sqft |
2018-04-01 | 0 days | 1,693 sqft |
2018-05-01 | 0 days | 1,760 sqft |
2018-06-01 | 0 days | 1,887 sqft |
2018-07-01 | 0 days | 1,828 sqft |
2018-08-01 | 0 days | 1,763 sqft |
2018-09-01 | 0 days | 1,765 sqft |
2018-10-01 | 0 days | 1,824 sqft |
2018-11-01 | 0 days | 1,748 sqft |
2018-12-01 | 0 days | 1,624 sqft |
2019-01-01 | 0 days | 1,605 sqft |
2019-02-01 | 0 days | 1,683 sqft |
2019-03-01 | 0 days | 1,742 sqft |
2019-04-01 | 0 days | 1,756 sqft |
2019-05-01 | 0 days | 1,767 sqft |
2019-06-01 | 0 days | 1,769 sqft |
2019-07-01 | 0 days | 1,832 sqft |
2019-08-01 | 0 days | 1,887 sqft |
2019-09-01 | 0 days | 1,804 sqft |
2019-10-01 | 0 days | 1,761 sqft |
2019-11-01 | 0 days | 1,865 sqft |
2019-12-01 | 0 days | 1,798 sqft |
2020-01-01 | 0 days | 1,712 sqft |
2020-02-01 | 0 days | 1,723 sqft |
2020-03-01 | 0 days | 1,793 sqft |
2020-04-01 | 0 days | 1,795 sqft |
2020-05-01 | 0 days | 1,764 sqft |
2020-06-01 | 0 days | 1,920 sqft |
2020-07-01 | 0 days | 1,965 sqft |
2020-08-01 | 0 days | 2,078 sqft |
2020-09-01 | 0 days | 2,000 sqft |
2020-10-01 | 0 days | 2,035 sqft |
2020-11-01 | 0 days | 1,875 sqft |
2020-12-01 | 0 days | 1,996 sqft |
2021-01-01 | 0 days | 1,780 sqft |
2021-02-01 | 0 days | 1,873 sqft |
2021-03-01 | 0 days | 2,047 sqft |
2021-04-01 | 0 days | 2,097 sqft |
2021-05-01 | 0 days | 1,963 sqft |
2021-06-01 | 0 days | 1,871 sqft |
2021-07-01 | 0 days | 1,964 sqft |
2021-08-01 | 0 days | 1,790 sqft |
2021-09-01 | 0 days | 1,825 sqft |
2021-10-01 | 0 days | 1,790 sqft |
2021-11-01 | 0 days | 1,652 sqft |
2021-12-01 | 0 days | 1,645 sqft |
2022-01-01 | 0 days | 1,751 sqft |
2022-02-01 | 0 days | 1,938 sqft |
2022-03-01 | 0 days | 1,961 sqft |
2022-04-01 | 0 days | 1,938 sqft |
2022-05-01 | 0 days | 1,789 sqft |
2022-06-01 | 0 days | 1,831 sqft |
2022-07-01 | 0 days | 1,793 sqft |
2022-08-01 | 0 days | 1,856 sqft |
2022-09-01 | 0 days | 1,826 sqft |
2022-10-01 | 0 days | 1,851 sqft |
2022-11-01 | 0 days | 1,948 sqft |
2022-12-01 | 0 days | 1,948 sqft |
2023-01-01 | 0 days | 1,882 sqft |
2023-02-01 | 0 days | 2,046 sqft |
2023-03-01 | 0 days | 1,944 sqft |
2023-04-01 | 0 days | 1,952 sqft |
2023-05-01 | 0 days | 2,000 sqft |
2023-06-01 | 0 days | 2,090 sqft |
2023-07-01 | 0 days | 2,151 sqft |
2023-08-01 | 0 days | 1,994 sqft |
2023-09-01 | 0 days | 1,763 sqft |
2023-10-01 | 0 days | 1,778 sqft |
2023-11-01 | 0 days | 1,654 sqft |
2023-12-01 | 0 days | 1,664 sqft |
2024-01-01 | 0 days | 1,525 sqft |
2024-02-01 | 0 days | 1,500 sqft |
2024-03-01 | 0 days | 1,549 sqft |
2024-04-01 | 0 days | 1,624 sqft |
2024-05-01 | 0 days | 1,660 sqft |
2024-06-01 | 0 days | 1,593 sqft |
2024-07-01 | 0 days | 1,708 sqft |
2024-08-01 | 0 days | 1,711 sqft |
2024-09-01 | 0 days | 1,757 sqft |
2024-10-01 | 0 days | 1,722 sqft |
2024-11-01 | 0 days | 1,857 sqft |
Cleveland's median square footage for active listings during the 2024-11-01 period was 1,857 sqft. One year prior, the average listing was 1,654 sqft.
Cleveland, MS Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 158 | $27,000,000 | $170,886 |
Refi | 67 | $6,885,000 | $102,761 |
Home Improvement | 19 | $965,000 | $50,789 |
Other | 12 | $560,000 | $46,667 |
Cash Out Refi | 10 | $1,320,000 | $132,000 |
Cleveland's most frequently cited loan purpose was Home Purchase, with 158 originations. The 2nd most popular reason was Refi, with 67 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 79 | $11,865,000 | $150,190 |
Over 8% | 74 | $6,930,000 | $93,649 |
7-8% | 60 | $8,110,000 | $135,167 |
5-6% | 34 | $7,960,000 | $234,118 |
<2.5% | 4 | $80,000 | $20,000 |
4-5% | 4 | $480,000 | $120,000 |
During 2023, Cleveland's most frequently originated rate bucket was 6-7%, with 79 originations.
Loan Sizing (Cleveland, MS MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 116 | $6,040,000 | $52,069 |
$100k-200k | 100 | $14,790,000 | $147,900 |
$200k-400k | 44 | $11,630,000 | $264,318 |
$600k-1000k | 3 | $2,285,000 | $761,667 |
$400k-600k | 2 | $950,000 | $475,000 |
$Over $1MM | 1 | $1,035,000 | $1,035,000 |
Cleveland's loan sizing saw the bucket of loans from $100,000 or less with 116 originations, totaling $6,040,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 116 | $21,700,000 | $187,069 |
60-80% | 45 | $7,175,000 | $159,444 |
20-40% | 37 | $2,385,000 | $64,459 |
40-60% | 32 | $2,800,000 | $87,500 |
Under 20% | 21 | $555,000 | $26,429 |
Over 100% | 3 | $765,000 | $255,000 |
Cleveland's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 116 originations, totaling $21,700,000 in origination value.