CLEVELAND Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Cleveland averaged
6.78%
for the week of 2025-06-18, compared to the national average of
6.81% for the same period.
The average rate for the prior week (2025-06-12) was
6.91% and
one month ago for the week of 2025-05-15, the
average rate was 6.78%.
Cleveland's average rate one year ago was 6.82%.
For refis of the same type during the week of 2025-06-18, the average rate
was 6.99%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Cleveland 30 Year Fixed Rate | 2025-06-18 | 6.78% |
| Cleveland 30 Year Fixed Rate Refi | 2025-06-18 | 6.99% |
| Cleveland 15 Year Fixed Rate | 2025-06-18 | 5.76% |
| Cleveland 15 Year Fixed Rate Refi | 2025-06-18 | 6.36% |
| Cleveland 30 Year FHA | 2025-06-18 | -0.25% |
| Cleveland 30 Year FHA Refi | 2025-06-18 | -0.1% |
| Cleveland 30 Year USDA | 2025-06-18 | -0.1% |
| Cleveland 30 Year USDA Refi | 2025-06-18 | 0% |
| Cleveland 30 Year VA | 2025-06-18 | -0.02% |
| Cleveland 30 Year VA Refi | 2025-06-18 | -0.28% |
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, 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.).
CLEVELAND Average Closing Costs & Other Stats
CLEVELAND, TN's 117 lenders originated 2,835
loans during 2024. The total origination value was $691,475,000, with an average loan value of
$243,907.
CLEVELAND's average closing costs are $5,544.
The top CLEVELAND lender as defined by loan originations is QUICKEN LOANS, LLC, with
88 loans originated. Their average total fees are
$6,744, which is $1,252
higher than the next largest lender,
CMG MORTGAGE, INC..
The lowest fee CLEVELAND lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. ($2,564), First Citizens National Bank ($3,141), BancorpSouth ($4,121), Regions Bank ($4,359) and Truist ($4,485).
The lowest rate CLEVELAND lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.85%), TENNESSEE VALLEY (6.31%), The Loan Store, Inc. (6.56%), MORTGAGE INVESTORS GROUP, INC. (6.58%) and QUICKEN LOANS, LLC (6.67%).
CLEVELAND, 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 | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| Bank of Cleveland | $38,945,000 | $49,580,000 | 27.3% | 7.2% |
| QUICKEN LOANS, LLC | $37,625,000 | $43,860,000 | 16.6% | 6.3% |
| CMG MORTGAGE, INC. | $32,675,000 | $39,745,000 | 21.6% | 5.7% |
| First Citizens National Bank | $27,660,000 | $33,275,000 | 20.3% | 4.8% |
| UNITED WHOLESALE MORTGAGE, LLC | $11,590,000 | $31,765,000 | 174.1% | 4.6% |
| DHI MORTGAGE COMPANY, LTD. | $4,170,000 | $30,815,000 | 639.0% | 4.5% |
| TENNESSEE VALLEY | $28,105,000 | $27,735,000 | -1.3% | 4.0% |
| United Community Bank | $21,755,000 | $20,205,000 | -7.1% | 2.9% |
| Mortgage Research Center, LLC | $14,005,000 | $15,070,000 | 7.6% | 2.2% |
| MORTGAGE INVESTORS GROUP, INC. | $11,640,000 | $14,515,000 | 24.7% | 2.1% |
| Merchants Capital Corp. | $14,455,000 | n/a | 2.1% | |
| MOVEMENT MORTGAGE, LLC | $11,840,000 | $14,235,000 | 20.2% | 2.1% |
| FirstBank | $13,635,000 | $13,940,000 | 2.2% | 2.0% |
| Regions Bank | $13,215,000 | $13,325,000 | 0.8% | 1.9% |
| WALKER & DUNLOP, LLC | $12,295,000 | n/a | 1.8% | |
| BancorpSouth | $10,865,000 | $10,810,000 | -0.5% | 1.6% |
| UNION HOME MORTGAGE CORP. | $9,720,000 | $10,720,000 | 10.3% | 1.6% |
| Pinnacle Bank | $9,160,000 | $10,530,000 | 15.0% | 1.5% |
| SmartBank | $6,705,000 | $10,430,000 | 55.6% | 1.5% |
| Truist | $10,120,000 | $10,410,000 | 2.9% | 1.5% |
| FREEDOM MORTGAGE CORPORATION | $3,115,000 | $9,595,000 | 208.0% | 1.4% |
| Andrew Johnson Bank | $11,105,000 | $9,220,000 | -17.0% | 1.3% |
| SouthEast Bank | $4,610,000 | $7,570,000 | 64.2% | 1.1% |
| SUMMIT FUNDING, INC. | $5,040,000 | $7,495,000 | 48.7% | 1.1% |
| TJC Mortgage, Inc. | $7,755,000 | $7,080,000 | -8.7% | 1.0% |
| NAVY FEDERAL CREDIT UNION | $2,270,000 | $6,380,000 | 181.1% | 0.9% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $4,875,000 | $6,355,000 | 30.4% | 0.9% |
| The Loan Store, Inc. | $1,410,000 | $5,880,000 | 317.0% | 0.9% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $5,065,000 | $5,160,000 | 1.9% | 0.7% |
| LOANDEPOT.COM, LLC | $4,880,000 | $5,095,000 | 4.4% | 0.7% |
| PENNYMAC LOAN SERVICES, LLC | $3,340,000 | $5,085,000 | 52.2% | 0.7% |
| Farm Credit Mid-America, ACA | $750,000 | $4,800,000 | 540.0% | 0.7% |
| First Volunteer Bank | $3,375,000 | $4,600,000 | 36.3% | 0.7% |
| LEADERONE FINANCIAL CORPORATION | $4,505,000 | $4,510,000 | 0.1% | 0.7% |
| ALAMEDA MORTGAGE CORPORATION | $2,585,000 | $4,505,000 | 74.3% | 0.7% |
| GUARANTEED RATE, INC. | $2,550,000 | $4,495,000 | 76.3% | 0.7% |
| BROKER SOLUTIONS, INC. | $2,685,000 | $4,295,000 | 60.0% | 0.6% |
| U.S. Bank | $2,870,000 | $4,105,000 | 43.0% | 0.6% |
| Citizens Bank of Las Cruces | $3,925,000 | n/a | 0.6% | |
| JPMorgan Chase Bank | $1,330,000 | $3,890,000 | 192.5% | 0.6% |
| CROSSCOUNTRY MORTGAGE, LLC | $960,000 | $3,875,000 | 303.6% | 0.6% |
| First Horizon Bank | $6,375,000 | $3,665,000 | -42.5% | 0.5% |
| USAA Federal Savings Bank | $3,025,000 | $3,395,000 | 12.2% | 0.5% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $1,140,000 | $3,310,000 | 190.4% | 0.5% |
| Mr. Cooper ( Nationstar Mortgage ) | $2,505,000 | $3,210,000 | 28.1% | 0.5% |
| Wells Fargo Bank | $1,595,000 | $3,105,000 | 94.7% | 0.4% |
| Bowater Employees Credit Union | $2,375,000 | $3,000,000 | 26.3% | 0.4% |
| FIRST COMMUNITY MORTGAGE, INC. | $4,255,000 | $2,975,000 | -30.1% | 0.4% |
| River Valley AgCredit, ACA | $840,000 | $2,925,000 | 248.2% | 0.4% |
| ISERVE RESIDENTIAL LENDING, LLC | $1,285,000 | $2,275,000 | 77.0% | 0.3% |
| Flagstar Bank, FSB | $1,335,000 | $2,235,000 | 67.4% | 0.3% |
| STOCKTON MORTGAGE CORPORATION | $3,860,000 | $2,080,000 | -46.1% | 0.3% |
| Barrington Bank & Trust Company, N.A. | $655,000 | $2,050,000 | 213.0% | 0.3% |
| ORNL Federal Credit Union | $510,000 | $2,000,000 | 292.2% | 0.3% |
| Renasant Bank | $855,000 | $1,960,000 | 129.2% | 0.3% |
| CHURCHILL MORTGAGE CORPORATION | $2,825,000 | $1,930,000 | -31.7% | 0.3% |
| GUILD MORTGAGE COMPANY | $1,930,000 | n/a | 0.3% | |
| Discover Bank | $1,285,000 | $1,875,000 | 45.9% | 0.3% |
| MILLENNIUM BANK | $2,620,000 | $1,810,000 | -30.9% | 0.3% |
| 21ST MORTGAGE CORPORATION | $1,795,000 | $1,665,000 | -7.2% | 0.2% |
| LAKEVIEW LOAN SERVICING, LLC | $860,000 | $1,635,000 | 90.1% | 0.2% |
| BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC | $1,555,000 | n/a | 0.2% | |
| Century Mortgage Company DBA Century Lending Company | $215,000 | $1,500,000 | 597.7% | 0.2% |
| PENTAGON FEDERAL CREDIT UNION | $595,000 | $1,430,000 | 140.3% | 0.2% |
| Simmons Bank | $1,435,000 | $1,415,000 | -1.4% | 0.2% |
| COMMUNITY MORTGAGE CORPORATION | $785,000 | $1,410,000 | 79.6% | 0.2% |
| Bank of America | $1,380,000 | $1,390,000 | 0.7% | 0.2% |
| OAKTREE FUNDING CORP. | $1,385,000 | n/a | 0.2% | |
| Gateway First Bank | $860,000 | $1,360,000 | 58.1% | 0.2% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $705,000 | $1,340,000 | 90.1% | 0.2% |
| Equity Prime Mortgage LLC | $1,420,000 | $1,305,000 | -8.1% | 0.2% |
| SUN WEST MORTGAGE COMPANY, INC. | $710,000 | $1,300,000 | 83.1% | 0.2% |
| Peoples Bank of the South | $1,445,000 | $1,235,000 | -14.5% | 0.2% |
| NEW DAY FINANCIAL, LLC | $910,000 | $1,230,000 | 35.2% | 0.2% |
| LENDINGHOME FUNDING CORPORATION | $1,125,000 | $1,175,000 | 4.4% | 0.2% |
| The Federal Savings Bank | $970,000 | $1,170,000 | 20.6% | 0.2% |
| TOWNE MORTGAGE COMPANY | $410,000 | $1,165,000 | 184.1% | 0.2% |
| AmeriHome Mortgage Company, LLC | $1,155,000 | n/a | 0.2% | |
| PLANET HOME LENDING, LLC | $730,000 | $1,125,000 | 54.1% | 0.2% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $1,380,000 | $1,060,000 | -23.2% | 0.2% |
| NFM, INC. | $775,000 | $1,045,000 | 34.8% | 0.2% |
| Ameris Bank | $395,000 | $1,025,000 | 159.5% | 0.1% |
| Citizens Bank | $2,435,000 | $1,015,000 | -58.3% | 0.1% |
| AMERICAN HERITAGE LENDING, INC. | $965,000 | n/a | 0.1% | |
| NBKC BANK | $1,555,000 | $950,000 | -38.9% | 0.1% |
| Carrington Mortgage Services, LLC | $150,000 | $925,000 | 516.7% | 0.1% |
| STATE EMPLOYEES' | $480,000 | $925,000 | 92.7% | 0.1% |
| Synovus Bank | $515,000 | $905,000 | 75.7% | 0.1% |
| DOMINION FINANCIAL SERVICES, LLC | $915,000 | $885,000 | -3.3% | 0.1% |
| VELOCITY COMMERCIAL CAPITAL, LLC | $880,000 | n/a | 0.1% | |
| AMERISAVE MORTGAGE CORPORATION | $1,780,000 | $870,000 | -51.1% | 0.1% |
| GMFS LLC | $865,000 | n/a | 0.1% | |
| SUCCESS MORTGAGE PARTNERS, INC. | $2,005,000 | $860,000 | -57.1% | 0.1% |
| SIRVA MORTGAGE, INC. | $1,360,000 | $845,000 | -37.9% | 0.1% |
| RUOFF MORTGAGE COMPANY, INC. | $830,000 | n/a | 0.1% | |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $2,220,000 | $800,000 | -64.0% | 0.1% |
| Peoples Bank of East Tennessee | $385,000 | $800,000 | 107.8% | 0.1% |
| Figure Lending LLC | $745,000 | $780,000 | 4.7% | 0.1% |
| Old National Bank | $775,000 | n/a | 0.1% | |
| VERITAS FUNDING, LLC | $775,000 | n/a | 0.1% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $640,000 | $765,000 | 19.5% | 0.1% |
| Capital City Home Loans, LLC | $765,000 | n/a | 0.1% | |
| INTERCOASTAL MORTGAGE COMPANY | $765,000 | n/a | 0.1% | |
| AMERICAN FINANCIAL NETWORK, INC. | $205,000 | $760,000 | 270.7% | 0.1% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $3,045,000 | $755,000 | -75.2% | 0.1% |
| Union Savings Bank | $750,000 | n/a | 0.1% | |
| EMBRACE HOME LOANS, INC. | $725,000 | n/a | 0.1% | |
| KNOXVILLE TVA EMPLOYEES CREDIT UNION | $140,000 | $710,000 | 407.1% | 0.1% |
| WesBanco | $705,000 | n/a | 0.1% | |
| GUARANTEED RATE AFFINITY, LLC | $315,000 | $675,000 | 114.3% | 0.1% |
| PHH Mortgage Corporation | $165,000 | $665,000 | 303.0% | 0.1% |
| THE TENNESSEE CREDIT UNION | $665,000 | $665,000 | 0.0% | 0.1% |
| Magnolia Bank | $1,095,000 | $660,000 | -39.7% | 0.1% |
| CANOPY MORTGAGE, LLC | $450,000 | $655,000 | 45.6% | 0.1% |
| THE MORTGAGE LINK, INC. | $655,000 | n/a | 0.1% | |
| First Federal Bank | $650,000 | n/a | 0.1% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $1,125,000 | $645,000 | -42.7% | 0.1% |
| U. T. | $45,000 | $645,000 | 1,333.3% | 0.1% |
| NEWREZ LLC | $700,000 | $630,000 | -10.0% | 0.1% |
| TruHome Solutions, LLC | $630,000 | n/a | 0.1% | |
| EVERETT FINANCIAL, INC. | $945,000 | $610,000 | -35.4% | 0.1% |
| PNC Bank | $245,000 | $610,000 | 149.0% | 0.1% |
| Bank of Dade | $675,000 | $600,000 | -11.1% | 0.1% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $165,000 | $590,000 | 257.6% | 0.1% |
| LOANPAL, LLC | $1,000,000 | $585,000 | -41.5% | 0.1% |
| Y-12 Federal Credit Union | $500,000 | $585,000 | 17.0% | 0.1% |
| blueharbor bank | $455,000 | $565,000 | 24.2% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $560,000 | $560,000 | 0.0% | 0.1% |
| Chattanooga Federal Emp. Credit Union | $1,105,000 | $555,000 | -49.8% | 0.1% |
| Morgan Stanley Private Bank | $580,000 | $555,000 | -4.3% | 0.1% |
| NEXERA HOLDING LLC | $550,000 | n/a | 0.1% | |
| A&D Mortgage LLC | $520,000 | n/a | 0.1% | |
| CLEARPATH LENDING | $520,000 | n/a | 0.1% | |
| Fortera Federal Credit Union | $55,000 | $520,000 | 845.5% | 0.1% |
| Mid-Continent Funding, Inc. | $245,000 | $520,000 | 112.2% | 0.1% |
| VAN DYK MORTGAGE CORPORATION | $815,000 | $510,000 | -37.4% | 0.1% |
| NATIONS RELIABLE LENDING, LLC | $505,000 | n/a | 0.1% | |
| First Western Trust Bank | $495,000 | n/a | 0.1% | |
| NATIONS DIRECT MORTGAGE, LLC | $375,000 | $495,000 | 32.0% | 0.1% |
| FIRST COLONY MORTGAGE CORPORATION | $300,000 | $490,000 | 63.3% | 0.1% |
| RELIANCE FIRST CAPITAL, LLC | $405,000 | $490,000 | 21.0% | 0.1% |
| Simply Bank | $380,000 | $470,000 | 23.7% | 0.1% |
| CITY FIRST MORTGAGE SERVICES, L.L.C. | $455,000 | n/a | 0.1% | |
| Third Federal Savings and Loan Association of Cleveland | $910,000 | $450,000 | -50.5% | 0.1% |
| Coastal Community Bank | $320,000 | $445,000 | 39.1% | 0.1% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $445,000 | n/a | 0.1% | |
| CapStar Bank | $2,545,000 | $440,000 | -82.7% | 0.1% |
| CARDINAL FINANCIAL | $2,575,000 | $435,000 | -83.1% | 0.1% |
| ASSEMBLIES OF GOD Credit Union | $410,000 | n/a | 0.1% | |
| Paramount Residential Mortgage Group, Inc. | $1,720,000 | $410,000 | -76.2% | 0.1% |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $405,000 | n/a | 0.1% | |
| SWBC MORTGAGE CORPORATION | $265,000 | $405,000 | 52.8% | 0.1% |
| Towne Bank | $600,000 | $405,000 | -32.5% | 0.1% |
| MORTGAGE ACCESS CORP. | $385,000 | n/a | 0.1% | |
| BANKSOUTH MORTGAGE COMPANY, LLC | $375,000 | n/a | 0.1% | |
| Orion Federal Credit Union | $375,000 | n/a | 0.1% | |
| Providence Bank & Trust | $375,000 | n/a | 0.1% | |
| THE MORTGAGE FIRM, INC. | $365,000 | n/a | 0.1% | |
| Commercial Bank & Trust Co. | $355,000 | n/a | 0.1% | |
| Leaders Credit Union | $355,000 | n/a | 0.1% | |
| S. C. TELCO | $355,000 | n/a | 0.1% | |
| ENDEAVOR CAPITAL, LLC. | $350,000 | n/a | 0.1% | |
| First Financial Bank | $305,000 | $350,000 | 14.8% | 0.1% |
| Independent Bank | $225,000 | $345,000 | 53.3% | 0.0% |
| PREMIA MORTGAGE, LLC | $345,000 | n/a | 0.0% | |
| SeaTrust Mortgage Company | $795,000 | $345,000 | -56.6% | 0.0% |
| LENDINGONE, LLC | $415,000 | $340,000 | -18.1% | 0.0% |
| BMO Harris Bank | $335,000 | n/a | 0.0% | |
| COMPASS MORTGAGE, INC. | $325,000 | n/a | 0.0% | |
| TOTAL MORTGAGE SERVICES, LLC | $325,000 | n/a | 0.0% | |
| ZILLOW HOME LOANS, LLC | $315,000 | n/a | 0.0% | |
| CityWorth Mortgage LLC | $305,000 | n/a | 0.0% | |
| DAS Acquisition Company, LLC | $715,000 | $305,000 | -57.3% | 0.0% |
| SOUTH CENTRAL BANK, INC. | $305,000 | n/a | 0.0% | |
| Peoples Bank | $295,000 | n/a | 0.0% | |
| Uwharrie Bank | $290,000 | n/a | 0.0% | |
| MASON MCDUFFIE MORTGAGE CORPORATION | $285,000 | n/a | 0.0% | |
| Patriot Bank | $285,000 | n/a | 0.0% | |
| MICHIGAN MUTUAL, INC. | $275,000 | n/a | 0.0% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $875,000 | $275,000 | -68.6% | 0.0% |
| 1ST SIGNATURE LENDING, LLC | $1,215,000 | $265,000 | -78.2% | 0.0% |
| Citizens Bank & Trust | $265,000 | n/a | 0.0% | |
| GARDNER FINANCIAL SERVICES, LTD. | $265,000 | n/a | 0.0% | |
| Ixonia Bank | $260,000 | n/a | 0.0% | |
| OCMBC, INC. | $260,000 | n/a | 0.0% | |
| ROYAL UNITED MORTGAGE LLC | $290,000 | $260,000 | -10.3% | 0.0% |
| ALLIED MORTGAGE GROUP, INC. | $195,000 | $255,000 | 30.8% | 0.0% |
| DEEPHAVEN MORTGAGE LLC | $470,000 | $255,000 | -45.7% | 0.0% |
| Legends Bank | $255,000 | $255,000 | 0.0% | 0.0% |
| LOCAL GOVERNMENT FEDERAL CREDIT UNION | $255,000 | n/a | 0.0% | |
| MEMBER FIRST MORTGAGE, LLC | $595,000 | $255,000 | -57.1% | 0.0% |
| OCEANSIDE MORTGAGE COMPANY | $255,000 | n/a | 0.0% | |
| First Merchants Bank | $245,000 | n/a | 0.0% | |
| Presidential Bank, FSB | $245,000 | n/a | 0.0% | |
| AMERICAN FINANCING CORPORATION | $445,000 | $240,000 | -46.1% | 0.0% |
| SOUTHWEST STAGE FUNDING, LLC | $95,000 | $235,000 | 147.4% | 0.0% |
| ALL IN | $85,000 | $225,000 | 164.7% | 0.0% |
| NEW WAVE LENDING GROUP INC | $225,000 | n/a | 0.0% | |
| Bethpage Federal Credit Union | $205,000 | $220,000 | 7.3% | 0.0% |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $215,000 | n/a | 0.0% | |
| CONTOUR MORTGAGE CORPORATION | $205,000 | n/a | 0.0% | |
| First National Bank of Omaha | $195,000 | n/a | 0.0% | |
| POLARIS HOME FUNDING CORP. | $155,000 | $195,000 | 25.8% | 0.0% |
| UNIFY FINANCIAL Credit Union | $190,000 | n/a | 0.0% | |
| ALLIANT CREDIT UNION | $185,000 | n/a | 0.0% | |
| GUARANTY MORTGAGE SERVICES, L.L.C. | $75,000 | $185,000 | 146.7% | 0.0% |
| MILEND, INC. | $410,000 | $185,000 | -54.9% | 0.0% |
| TOP FLITE FINANCIAL, INC. | $380,000 | $185,000 | -51.3% | 0.0% |
| Fifth Third Bank | $410,000 | $180,000 | -56.1% | 0.0% |
| Cornerstone First Mortgage, Inc | $255,000 | $175,000 | -31.4% | 0.0% |
| MID AMERICA MORTGAGE, INC. | $890,000 | $175,000 | -80.3% | 0.0% |
| DELTA COMMUNITY CREDIT UNION | $165,000 | n/a | 0.0% | |
| First Century Bank | $165,000 | n/a | 0.0% | |
| COCA-COLA | $160,000 | n/a | 0.0% | |
| RBC Bank, (Georgia) | $155,000 | n/a | 0.0% | |
| Sierra Pacific Mortgage Company, Inc. | $635,000 | $155,000 | -75.6% | 0.0% |
| ASCEND FEDERAL CREDIT UNION | $145,000 | n/a | 0.0% | |
| BAY EQUITY LLC | $225,000 | $135,000 | -40.0% | 0.0% |
| Elements Financial Federal Credit Union | $125,000 | n/a | 0.0% | |
| FINANCE OF AMERICA REVERSE LLC | $290,000 | $125,000 | -56.9% | 0.0% |
| GERSHMAN INVESTMENT CORP. | $125,000 | n/a | 0.0% | |
| Nicolet National Bank | $125,000 | n/a | 0.0% | |
| UNITED | $125,000 | n/a | 0.0% | |
| First-Citizens Bank & Trust Company | $110,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $110,000 | n/a | 0.0% | |
| American Airlines Federal Credit Union | $105,000 | n/a | 0.0% | |
| Mountain Valley Bank | $260,000 | $105,000 | -59.6% | 0.0% |
| The Piedmont Bank | $105,000 | n/a | 0.0% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $95,000 | n/a | 0.0% | |
| MidFirst Bank | $95,000 | n/a | 0.0% | |
| UNITED MORTGAGE CORP | $95,000 | n/a | 0.0% | |
| Baxter Credit Union | $105,000 | $75,000 | -28.6% | 0.0% |
| Mountain Commerce Bank | $955,000 | $75,000 | -92.1% | 0.0% |
| ALTRA | $375,000 | $65,000 | -82.7% | 0.0% |
| Trust Federal Credit Union | $65,000 | n/a | 0.0% | |
| EASTMAN | $25,000 | $55,000 | 120.0% | 0.0% |
| Chattanooga Area Schools Federal Credit Union | $215,000 | $45,000 | -79.1% | 0.0% |
| ROUNDPOINT MORTGAGE SERVICING CORPORATION | $45,000 | n/a | 0.0% | |
| CORNING | $35,000 | n/a | 0.0% |
CLEVELAND's top lender by overall market share is Bank of Cleveland, with 7.2% market share. In second place, with 6.3%, is QUICKEN LOANS, LLC, having originated $43,860,000 in loans. In third place, with 5.7%, is CMG MORTGAGE, INC., having originated $39,745,000 in loans. In fourth place, with 4.8%, is First Citizens National Bank, having originated $33,275,000 in loans. In fifth place, with 4.6%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $31,765,000 in loans.
CLEVELAND, TN Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,580 | $471,340,000 | $298,316 |
| Cash Out Refi | 414 | $90,640,000 | $218,937 |
| Refi | 337 | $82,155,000 | $243,783 |
| Other | 266 | $24,170,000 | $90,865 |
| Home Improvement | 238 | $23,170,000 | $97,353 |
Cleveland's most frequently cited loan purpose was Home Purchase, with 1,580 originations. The 2nd most popular reason was Cash Out Refi, with 414 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 1,078 | $279,610,000 | $259,378 |
| Over 8% | 543 | $70,545,000 | $129,917 |
| 7-8% | 472 | $118,890,000 | $251,886 |
| 5-6% | 398 | $125,820,000 | $316,131 |
| 4-5% | 62 | $17,390,000 | $280,484 |
| <2.5% | 8 | $350,000 | $43,750 |
| 3-4% | 5 | $1,105,000 | $221,000 |
| 2.5-3% | 2 | $360,000 | $180,000 |
During 2024, Cleveland's most frequently originated rate bucket was 6-7%, with 1,078 originations.
Loan Sizing (CLEVELAND, TN MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 1,261 | $353,655,000 | $280,456 |
| $100k-200k | 691 | $104,215,000 | $150,818 |
| $100,000 or less | 573 | $29,895,000 | $52,173 |
| $400k-600k | 231 | $108,045,000 | $467,727 |
| $600k-1000k | 63 | $45,685,000 | $725,159 |
| $Over $1MM | 16 | $49,980,000 | $3,123,750 |
CLEVELAND's loan sizing saw the bucket of loans from $200k-400k with 1,261 originations, totaling $353,655,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 1,026 | $310,910,000 | $303,031 |
| 60-80% | 550 | $155,620,000 | $282,945 |
| Under 20% | 359 | $17,205,000 | $47,925 |
| 20-40% | 264 | $30,910,000 | $117,083 |
| 40-60% | 253 | $67,065,000 | $265,079 |
| Over 100% | 45 | $12,355,000 | $274,556 |
CLEVELAND's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,026 originations, totaling $310,910,000 in origination value.