Columbus Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Columbus averaged 6.52% 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 6.86% and one month ago for the week of 2023-08-10, the average rate was 6.5%.

    Columbus's average rate one year ago was 5.33%.

    For refis of the same type during the week of 2023-09-14, the average rate was 7.08%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-09-14 7.18%
    Columbus 30 Year Fixed Rate 2023-09-14 6.52%
    Columbus 30 Year Fixed Rate Refi 2023-09-14 7.08%
    Columbus 15 Year Fixed Rate 2023-09-14 6.61%
    Columbus 15 Year Fixed Rate Refi 2023-09-14 6.81%
    Columbus 30 Year FHA 2023-09-14 6.55%
    Columbus 30 Year FHA Refi 2023-09-14 6.89%
    Columbus 30 Year USDA 2023-09-14 6.54%
    Columbus 30 Year USDA Refi 2023-09-14 7.18%
    Columbus 30 Year VA 2023-09-14 6.55%
    Columbus 30 Year VA Refi 2023-09-14 6.71%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Columbus, MS.

    Columbus 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 Columbus, 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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    BancorpSouth 30 4.62% $3,982
    QUICKEN LOANS, LLC 29 5.10% $5,567
    Renasant Bank 20 5.10% $4,588
    Trustmark National Bank 19 4.70% $3,441
    Regions Bank 10 4.78% $4,420
    Flagstar Bank, FSB 8 5.11% $7,903
    FIRST COMMUNITY MORTGAGE, INC. 7 4.98% $6,557
    Magnolia Bank 5 4.50% $4,465
    JPMorgan Chase Bank 5 5.22% $3,228
    BankFirst Financial Services 4 5.38% $7,273
    UNITED WHOLESALE MORTGAGE, LLC 4 5.88% $7,832
    Citizens Bank 4 3.94% $5,683
    The Citizens National Bank of Meridian 4 5.00% $2,756
    Stifel Bank and Trust 4 4.28% $2,894
    GUARANTY HOME MORTGAGE CORPORATION 4 5.56% $6,916
    MOVEMENT MORTGAGE, LLC 3 5.54% $4,313
    CARDINAL FINANCIAL 3 4.33% $8,013
    Community Bank of Mississippi 3 4.79% $3,575
    GMFS LLC 3 5.62% $5,419
    NAVY FEDERAL CREDIT UNION 3 4.50% $2,489
    COMMUNITY MORTGAGE CORPORATION 2 5.37% $4,372
    CALIBER HOME LOANS, INC. 2 5.41% $4,011
    LEADERONE FINANCIAL CORPORATION 2 3.50% $4,284
    Mortgage Research Center, LLC 2 4.81% $2,032
    ZILLOW HOME LOANS, LLC 2 4.81% $16,391
    Wells Fargo Bank 2 5.75% $3,412
    LOANDEPOT.COM, LLC 2 5.25% $3,676
    CROSSCOUNTRY MORTGAGE, LLC 2 4.44% $4,845
    NFM, INC. 1 6.13% $14,331
    North American Savings Bank, F.S.B. 1 7.63% $5,847
    Paramount Bank 1 5.25% $3,163
    Peoples Bank 1 3.88% $3,673
    PREMIA MORTGAGE, LLC 1 5.00% $50
    GSF Mortgage Corporation 1 5.50% $4,390
    First Internet Bank of Indiana 1 3.75% $3,230
    First Federal Bank, A FSB 1 4.75% $7,200
    ROYAL UNITED MORTGAGE LLC 1 4.00% $7,303
    RUOFF MORTGAGE COMPANY, INC. 1 5.25% $0
    SIRVA MORTGAGE, INC. 1 6.25% $98
    Tyndall Federal Credit Union 1 6.88% $3,233
    AMERISAVE MORTGAGE CORPORATION 1 4.99% $3,912
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.50% $3,665
    WRIGHT-PATT CREDIT UNION, INC. 1 5.63% $2,590
    HOMESIDE FINANCIAL, LLC 1 4.50% $3,329
    HOMESTAR FINANCIAL CORPORATION 1 6.00% $6,492
    Listerhill Credit Union 1 5.99% $2,743
    GUARANTEED RATE, INC. 1 3.25% $2,477
    AMERICAN FINANCING CORPORATION 1 3.63% $4,605
    Mr. Cooper ( Nationstar Mortgage ) 1 4.25% $4,624
    M&T Bank 1 5.38% $7,620
    NBKC BANK 1 7.63% $4,915
    NEWREZ LLC 1 6.13% $4,132

    Columbus Average Closing Costs & Other Stats

    Columbus, MS's 52 lenders originated 1,154 loans during 2022. The total origination value was $206,500,000, with an average loan value of $178,943.

    Columbus's average closing costs are $4,974.

    The top Columbus lender as defined by loan originations is BancorpSouth, with 30 loans originated. Their average total fees are $3,982, which is $1,585 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Columbus lenders (with over 10 loans originated) are Trustmark National Bank ($3,441), BancorpSouth ($3,982), Regions Bank ($4,420), Renasant Bank ($4,588) and QUICKEN LOANS, LLC ($5,567).

    The lowest rate Columbus lenders (with over 10 loans originated) are BancorpSouth (4.62%), Trustmark National Bank (4.70%), Regions Bank (4.78%), QUICKEN LOANS, LLC (5.10%) and Renasant Bank (5.10%).

    Columbus, 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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    BankFirst Financial Services $21,365,000 $23,085,000 8.1% 11.2%
    BancorpSouth Bank $30,745,000 $17,970,000 -41.6% 8.7%
    Renasant Bank $31,095,000 $16,685,000 -46.3% 8.1%
    Trustmark National Bank $18,995,000 $14,265,000 -24.9% 6.9%
    Mortgage Research Center, LLC $15,050,000 $13,680,000 -9.1% 6.6%
    QUICKEN LOANS, LLC $25,685,000 $11,820,000 -54.0% 5.7%
    The Citizens National Bank of Meridian $5,015,000 $7,030,000 40.2% 3.4%
    Flagstar Bank, FSB $4,005,000 $6,935,000 73.2% 3.4%
    FIRST COMMUNITY MORTGAGE, INC. $8,260,000 $6,505,000 -21.2% 3.2%
    USAA Federal Savings Bank $4,055,000 $5,305,000 30.8% 2.6%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $905,000 $5,100,000 463.5% 2.5%
    Regions Bank $11,165,000 $5,070,000 -54.6% 2.5%
    UNITED WHOLESALE MORTGAGE, LLC $900,000 $4,760,000 428.9% 2.3%
    Magnolia Bank $3,600,000 $4,685,000 30.1% 2.3%
    MOVEMENT MORTGAGE, LLC $3,510,000 n/a 1.7%
    LEADERONE FINANCIAL CORPORATION $7,535,000 $3,105,000 -58.8% 1.5%
    NAVY FEDERAL CREDIT UNION $3,210,000 $2,805,000 -12.6% 1.4%
    NBKC BANK $3,010,000 $2,485,000 -17.4% 1.2%
    21ST MORTGAGE CORPORATION $2,070,000 $2,165,000 4.6% 1.0%
    PENNYMAC LOAN SERVICES, LLC $3,860,000 $1,920,000 -50.3% 0.9%
    TOWNE MORTGAGE COMPANY $3,135,000 $1,790,000 -42.9% 0.9%
    Citizens Bank $710,000 $1,785,000 151.4% 0.9%
    JPMorgan Chase Bank $575,000 $1,750,000 204.3% 0.8%
    GUARANTY HOME MORTGAGE CORPORATION $6,825,000 $1,665,000 -75.6% 0.8%
    NEW DAY FINANCIAL, LLC $630,000 $1,600,000 154.0% 0.8%
    AMERISAVE MORTGAGE CORPORATION $1,885,000 $1,580,000 -16.2% 0.8%
    FREEDOM MORTGAGE CORPORATION $6,310,000 $1,565,000 -75.2% 0.8%
    STOCKTON MORTGAGE CORPORATION $125,000 $1,445,000 1,056.0% 0.7%
    COMMUNITY MORTGAGE CORPORATION $1,405,000 n/a 0.7%
    U.S. Bank $3,650,000 $1,405,000 -61.5% 0.7%
    Wells Fargo Bank $3,760,000 $1,260,000 -66.5% 0.6%
    Planters Bank & Trust Company $1,120,000 n/a 0.5%
    Community Bank of Mississippi $275,000 $1,090,000 296.4% 0.5%
    Mr. Cooper ( Nationstar Mortgage ) $2,255,000 $1,040,000 -53.9% 0.5%
    CMG MORTGAGE, INC. $850,000 $985,000 15.9% 0.5%
    CROSSCOUNTRY MORTGAGE, LLC $95,000 $985,000 936.8% 0.5%
    GMFS LLC $3,320,000 $940,000 -71.7% 0.5%
    West Alabama Bank & Trust $1,605,000 $885,000 -44.9% 0.4%
    PENTAGON FEDERAL CREDIT UNION $400,000 $880,000 120.0% 0.4%
    LOANDEPOT.COM, LLC $3,335,000 $875,000 -73.8% 0.4%
    ZILLOW HOME LOANS, LLC $920,000 $810,000 -12.0% 0.4%
    Stifel Bank and Trust $1,565,000 $785,000 -49.8% 0.4%
    HOMESTAR FINANCIAL CORPORATION $705,000 n/a 0.3%
    BankPlus $330,000 $680,000 106.1% 0.3%
    HOME POINT FINANCIAL CORPORATION $1,670,000 $580,000 -65.3% 0.3%
    Guaranty Bank and Trust Company $545,000 n/a 0.3%
    Barrington Bank & Trust Company, N.A. $585,000 $530,000 -9.4% 0.3%
    Mid-Continent Funding, Inc. $235,000 $530,000 125.5% 0.3%
    North American Savings Bank, F.S.B. $820,000 $530,000 -35.4% 0.3%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,540,000 $470,000 -69.5% 0.2%
    United Community Bank $455,000 n/a 0.2%
    Paramount Residential Mortgage Group, Inc. $445,000 n/a 0.2%
    Bank of England $370,000 $400,000 8.1% 0.2%
    Paramount Bank $995,000 $395,000 -60.3% 0.2%
    The Federal Savings Bank $1,225,000 $390,000 -68.2% 0.2%
    BROKER SOLUTIONS, INC. $520,000 $380,000 -26.9% 0.2%
    CHURCHILL MORTGAGE CORPORATION $370,000 n/a 0.2%
    Carrington Mortgage Services, LLC $1,475,000 $355,000 -75.9% 0.2%
    LIMA ONE CAPITAL, LLC $210,000 $355,000 69.0% 0.2%
    VILLAGE CAPITAL MORTGAGE $1,550,000 $355,000 -77.1% 0.2%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $1,055,000 $345,000 -67.3% 0.2%
    First Federal Bank, A FSB $390,000 $335,000 -14.1% 0.2%
    S1L, Inc. $325,000 n/a 0.2%
    AMERICAN FINANCING CORPORATION $175,000 $310,000 77.1% 0.2%
    Peoples Bank $185,000 $310,000 67.6% 0.2%
    Strong Home Mortgage, LLC $530,000 $305,000 -42.5% 0.1%
    CIS Financial Services, Inc. $300,000 n/a 0.1%
    PNC Bank $265,000 n/a 0.1%
    SECURITYNATIONAL MORTGAGE COMPANY $265,000 n/a 0.1%
    SOUTHWEST FUNDING, LP $265,000 n/a 0.1%
    TJC Mortgage, Inc. $265,000 n/a 0.1%
    GSF Mortgage Corporation $255,000 n/a 0.1%
    Listerhill Credit Union $255,000 n/a 0.1%
    NFM, INC. $255,000 n/a 0.1%
    RUOFF MORTGAGE COMPANY, INC. $255,000 n/a 0.1%
    First Guaranty Mortgage Corporation $560,000 $245,000 -56.3% 0.1%
    PREMIA MORTGAGE, LLC $205,000 $245,000 19.5% 0.1%
    Meridian Bank Corporation $235,000 n/a 0.1%
    MORTGAGE INVESTORS GROUP, INC. $165,000 $235,000 42.4% 0.1%
    NUMARK CREDIT UNION $235,000 n/a 0.1%
    RELIANCE FIRST CAPITAL, LLC $300,000 $225,000 -25.0% 0.1%
    Service Federal Credit Union $225,000 n/a 0.1%
    HOMESIDE FINANCIAL, LLC $180,000 $220,000 22.2% 0.1%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $985,000 $220,000 -77.7% 0.1%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $215,000 n/a 0.1%
    CALIBER HOME LOANS, INC. $1,275,000 $210,000 -83.5% 0.1%
    Alabama One Credit Union $470,000 $205,000 -56.4% 0.1%
    GUARANTEED RATE, INC. $205,000 n/a 0.1%
    EUSTIS AND AMERICAN MORTGAGE COMPANY $185,000 $195,000 5.4% 0.1%
    WRIGHT-PATT CREDIT UNION, INC. $195,000 n/a 0.1%
    GENEVA FINANCIAL, LLC $185,000 n/a 0.1%
    Low VA Rates, LLC $760,000 $185,000 -75.7% 0.1%
    FINANCE OF AMERICA MORTGAGE LLC $165,000 $180,000 9.1% 0.1%
    Tyndall Federal Credit Union $175,000 n/a 0.1%
    M&T Bank $85,000 $165,000 94.1% 0.1%
    First Internet Bank of Indiana $245,000 $155,000 -36.7% 0.1%
    SIRVA MORTGAGE, INC. $155,000 n/a 0.1%
    COUNTRYPLACE MORTGAGE, LTD. $135,000 $145,000 7.4% 0.1%
    TRIAD FINANCIAL SERVICES, INC. $495,000 $145,000 -70.7% 0.1%
    SOUTHWEST STAGE FUNDING, LLC $455,000 $135,000 -70.3% 0.1%
    SUN WEST MORTGAGE COMPANY, INC. $210,000 $135,000 -35.7% 0.1%
    VANDERBILT MORTGAGE AND FINANCE, INC. $115,000 $130,000 13.0% 0.1%
    CSL Financial, LLC $125,000 n/a 0.1%
    DAS Acquisition Company, LLC $125,000 n/a 0.1%
    Equity Prime Mortgage LLC $125,000 n/a 0.1%
    Figure Lending LLC $125,000 n/a 0.1%
    NEWREZ LLC $990,000 $115,000 -88.4% 0.1%
    Discover Bank $45,000 $110,000 144.4% 0.1%
    ROYAL UNITED MORTGAGE LLC $230,000 $95,000 -58.7% 0.0%
    STATEWIDE FEDERAL CREDIT UNION $85,000 n/a 0.0%
    Blue Ridge Bank $75,000 n/a 0.0%
    LAKEVIEW LOAN SERVICING, LLC $1,665,000 $75,000 -95.5% 0.0%
    MUTUAL $240,000 $75,000 -68.8% 0.0%
    Nations Lending Corporation $270,000 $75,000 -72.2% 0.0%
    REVERSE MORTGAGE FUNDING LLC $75,000 n/a 0.0%
    Bank of America $240,000 $55,000 -77.1% 0.0%
    Home Loan Investment Bank, F.S.B. $25,000 n/a 0.0%

    Columbus's top lender by overall market share is BankFirst Financial Services, with 11.2% market share. In second place, with 8.7%, is BancorpSouth Bank, having originated $17,970,000 in loans. In third place, with 8.1%, is Renasant Bank, having originated $16,685,000 in loans. In fourth place, with 6.9%, is Trustmark National Bank, having originated $14,265,000 in loans. In fifth place, with 6.6%, is Mortgage Research Center, LLC, having originated $13,680,000 in loans.

    Columbus, MS Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 700 $145,850,000 $208,357
    Refi 158 $27,590,000 $174,620
    Cash Out Refi 149 $23,495,000 $157,685
    Other 90 $6,160,000 $68,444
    Home Improvement 57 $3,405,000 $59,737

    Columbus's most frequently cited loan purpose was Home Purchase, with 700 originations. The 2nd most popular reason was Refi, with 158 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 285 $50,115,000 $175,842
    4-5% 279 $55,555,000 $199,122
    3-4% 261 $49,835,000 $190,939
    6-7% 119 $25,625,000 $215,336
    2.5-3% 83 $12,765,000 $153,795
    7-8% 47 $5,465,000 $116,277
    <2.5% 45 $3,425,000 $76,111
    Over 8% 30 $2,670,000 $89,000

    During 2022, Columbus's most frequently originated rate bucket was 5-6%, with 285 originations.

    Loan Sizing (Columbus, MS MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 422 $62,590,000 $148,318
    $200k-400k 356 $97,440,000 $273,708
    $100,000 or less 339 $19,005,000 $56,062
    $400k-600k 28 $12,890,000 $460,357
    $600k-1000k 5 $3,205,000 $641,000
    $Over $1MM 4 $11,370,000 $2,842,500

    Columbus's loan sizing saw the bucket of loans from $100k-200k with 422 originations, totaling $62,590,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 616 $130,820,000 $212,370
    60-80% 204 $36,490,000 $178,873
    Under 20% 108 $3,450,000 $31,944
    40-60% 89 $15,255,000 $171,404
    20-40% 78 $5,510,000 $70,641
    Over 100% 45 $12,935,000 $287,444

    Columbus's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 616 originations, totaling $130,820,000 in origination value.