Danville Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Danville averaged
6.69%
for the week of 2024-07-18, compared to the national average of
6.77% for the same period.
The average rate for the prior week (2024-07-11) was
6.71% and
one month ago for the week of 2024-06-13, the
average rate was 7.07%.
Danville's average rate one year ago was 7.08%.
For refis of the same type during the week of 2024-07-18, the average rate
was 6.97%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-07-18 | 6.77% |
| Danville 30 Year Fixed Rate | 2024-07-18 | 6.69% |
| Danville 30 Year Fixed Rate Refi | 2024-07-18 | 6.97% |
| Danville 15 Year Fixed Rate | 2024-07-18 | 5.85% |
| Danville 15 Year Fixed Rate Refi | 2024-07-18 | 6.65% |
| Danville 30 Year FHA | 2024-07-18 | 6.61% |
| Danville 30 Year FHA Refi | 2024-07-18 | 6.69% |
| Danville 30 Year USDA | 2024-07-18 | 6.73% |
| Danville 30 Year USDA Refi | 2024-07-18 | 6.83% |
| Danville 30 Year VA | 2024-07-18 | 6.1% |
| Danville 30 Year VA Refi | 2024-07-18 | 6.5% |
Danville 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 Danville, KY 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.).
Danville Average Closing Costs & Other Stats
Danville, KY's 75 lenders originated 858
loans during 2023. The total origination value was $137,470,000, with an average loan value of
$160,221.
Danville's average closing costs are $4,451.
The top Danville lender as defined by loan originations is GENEVA FINANCIAL, LLC, with
24 loans originated. Their average total fees are
$4,700, which is $2,388
higher than the next largest lender,
Whitaker Bank.
The lowest fee Danville lenders (with over 10 loans originated) are
Whitaker Bank ($2,311), Abound Federal Credit Union ($2,449), JPMorgan Chase Bank ($3,541), GENEVA FINANCIAL, LLC ($4,700) and MORTGAGE INVESTORS GROUP, INC. ($4,819).
The lowest rate Danville lenders (with over 10 loans originated) are
MORTGAGE INVESTORS GROUP, INC. (5.60%), Whitaker Bank (6.01%), Abound Federal Credit Union (6.07%), GENEVA FINANCIAL, LLC (6.47%) and HOMESIDE FINANCIAL, LLC (6.51%).
Danville, KY 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 |
|---|---|---|---|---|
| GENEVA FINANCIAL, LLC | $10,955,000 | $10,760,000 | -1.8% | 7.8% |
| QUICKEN LOANS, LLC | $8,355,000 | $8,140,000 | -2.6% | 5.9% |
| Whitaker Bank | $9,480,000 | $7,325,000 | -22.7% | 5.3% |
| Abound Federal Credit Union | $7,310,000 | $7,190,000 | -1.6% | 5.2% |
| HOMESIDE FINANCIAL, LLC | $4,040,000 | $7,075,000 | 75.1% | 5.1% |
| First Southern National Bank | $9,185,000 | $6,775,000 | -26.2% | 4.9% |
| Republic State Mortgage Co. | $7,905,000 | $5,010,000 | -36.6% | 3.6% |
| STOCKTON MORTGAGE CORPORATION | $5,600,000 | $4,560,000 | -18.6% | 3.3% |
| Mortgage Research Center, LLC | $3,745,000 | $4,230,000 | 13.0% | 3.1% |
| PNC Bank | $3,040,000 | $3,075,000 | 1.2% | 2.2% |
| 21ST MORTGAGE CORPORATION | $230,000 | $2,925,000 | 1,171.7% | 2.1% |
| Community Trust Bank, Inc. | $5,250,000 | $2,790,000 | -46.9% | 2.0% |
| UNITED WHOLESALE MORTGAGE, LLC | $4,250,000 | $2,460,000 | -42.1% | 1.8% |
| Bank of England | $1,995,000 | $2,425,000 | 21.6% | 1.8% |
| JPMorgan Chase Bank | $4,830,000 | $2,410,000 | -50.1% | 1.8% |
| MORTGAGE INVESTORS GROUP, INC. | $1,245,000 | $2,160,000 | 73.5% | 1.6% |
| GoPrime Mortgage, Inc. | $1,680,000 | $2,120,000 | 26.2% | 1.5% |
| Northpointe Bank | $610,000 | $1,995,000 | 227.0% | 1.5% |
| BROKER SOLUTIONS, INC. | $1,195,000 | $1,870,000 | 56.5% | 1.4% |
| Fifth Third Bank | $3,720,000 | $1,835,000 | -50.7% | 1.3% |
| UNIVERSITY OF KENTUCKY | $1,655,000 | $1,765,000 | 6.6% | 1.3% |
| LIMA ONE CAPITAL, LLC | $1,730,000 | n/a | 1.3% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $2,715,000 | $1,715,000 | -36.8% | 1.2% |
| U.S. Bank | $2,470,000 | $1,655,000 | -33.0% | 1.2% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $2,050,000 | $1,635,000 | -20.2% | 1.2% |
| COMMONWEALTH | $2,065,000 | $1,495,000 | -27.6% | 1.1% |
| INTERLINC MORTGAGE SERVICES, LLC | $255,000 | $1,375,000 | 439.2% | 1.0% |
| UNION HOME MORTGAGE CORP. | $55,000 | $1,315,000 | 2,290.9% | 1.0% |
| Bank of the Bluegrass & Trust Co. | $1,145,000 | n/a | 0.8% | |
| The Monticello Banking Company | $945,000 | $1,130,000 | 19.6% | 0.8% |
| USAA Federal Savings Bank | $2,490,000 | $965,000 | -61.2% | 0.7% |
| Renasant Bank | $925,000 | n/a | 0.7% | |
| Century Mortgage Company DBA Century Lending Company | $270,000 | $920,000 | 240.7% | 0.7% |
| Guardian Savings Bank, A Federal Savings Bank | $825,000 | $905,000 | 9.7% | 0.7% |
| CMG MORTGAGE, INC. | $615,000 | $840,000 | 36.6% | 0.6% |
| RUOFF MORTGAGE COMPANY, INC. | $615,000 | $815,000 | 32.5% | 0.6% |
| First Financial Bank | $35,000 | $800,000 | 2,185.7% | 0.6% |
| Bank of Lexington, Inc. | $280,000 | $775,000 | 176.8% | 0.6% |
| Traditional Bank, Inc. | $2,005,000 | $765,000 | -61.8% | 0.6% |
| Citizens Commerce Bank | $300,000 | $755,000 | 151.7% | 0.5% |
| NAVY FEDERAL CREDIT UNION | $1,790,000 | $730,000 | -59.2% | 0.5% |
| Union Savings Bank | $730,000 | n/a | 0.5% | |
| Wells Fargo Bank | $705,000 | $695,000 | -1.4% | 0.5% |
| FREEDOM MORTGAGE CORPORATION | $665,000 | $660,000 | -0.8% | 0.5% |
| CHURCHILL MORTGAGE CORPORATION | $1,600,000 | $625,000 | -60.9% | 0.5% |
| EVERETT FINANCIAL, INC. | $1,340,000 | $610,000 | -54.5% | 0.4% |
| NEWREZ LLC | $585,000 | $610,000 | 4.3% | 0.4% |
| CITIZENS EQUITY FIRST | $585,000 | n/a | 0.4% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $655,000 | $580,000 | -11.5% | 0.4% |
| LAKEVIEW LOAN SERVICING, LLC | $940,000 | $570,000 | -39.4% | 0.4% |
| Central Kentucky Agricultural Credit Association | $615,000 | $560,000 | -8.9% | 0.4% |
| MOVEMENT MORTGAGE, LLC | $535,000 | $540,000 | 0.9% | 0.4% |
| Peoples Exchange Bank | $1,495,000 | $530,000 | -64.5% | 0.4% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $6,705,000 | $510,000 | -92.4% | 0.4% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $485,000 | n/a | 0.4% | |
| LENDINGHOME FUNDING CORPORATION | $475,000 | n/a | 0.3% | |
| Truist | $25,000 | $465,000 | 1,760.0% | 0.3% |
| GUARANTEED RATE, INC. | $1,030,000 | $455,000 | -55.8% | 0.3% |
| Mr. Cooper ( Nationstar Mortgage ) | $940,000 | $445,000 | -52.7% | 0.3% |
| PENNYMAC LOAN SERVICES, LLC | $1,530,000 | $440,000 | -71.2% | 0.3% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $250,000 | $440,000 | 76.0% | 0.3% |
| EVANSVILLE TEACHERS | $325,000 | $425,000 | 30.8% | 0.3% |
| LOANDEPOT.COM, LLC | $1,700,000 | $415,000 | -75.6% | 0.3% |
| Nations Lending Corporation | $200,000 | $410,000 | 105.0% | 0.3% |
| The Citizens National Bank of Somerset | $1,565,000 | $385,000 | -75.4% | 0.3% |
| Farm Credit Mid-America, ACA | $2,360,000 | $365,000 | -84.5% | 0.3% |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $360,000 | n/a | 0.3% | |
| The Federal Savings Bank | $355,000 | n/a | 0.3% | |
| Magnolia Bank | $145,000 | $350,000 | 141.4% | 0.3% |
| Service Federal Credit Union | $345,000 | n/a | 0.3% | |
| THRIVE MORTGAGE, LLC | $340,000 | n/a | 0.2% | |
| Carrington Mortgage Services, LLC | $1,010,000 | $335,000 | -66.8% | 0.2% |
| PHH Mortgage Corporation | $330,000 | n/a | 0.2% | |
| ROYAL UNITED MORTGAGE LLC | $330,000 | n/a | 0.2% | |
| Prosperity Home Mortgage, LLC | $460,000 | $325,000 | -29.3% | 0.2% |
| PARK COMMUNITY CREDIT UNION, INC. | $2,910,000 | $315,000 | -89.2% | 0.2% |
| BETTER MORTGAGE CORPORATION | $305,000 | n/a | 0.2% | |
| Citizens Bank | $510,000 | $305,000 | -40.2% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $1,610,000 | $290,000 | -82.0% | 0.2% |
| NEW DAY FINANCIAL, LLC | $155,000 | $285,000 | 83.9% | 0.2% |
| FIRST COMMUNITY MORTGAGE, INC. | $270,000 | n/a | 0.2% | |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $205,000 | $265,000 | 29.3% | 0.2% |
| First Volunteer Bank | $245,000 | n/a | 0.2% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $245,000 | n/a | 0.2% | |
| PREMIA MORTGAGE, LLC | $245,000 | n/a | 0.2% | |
| MID AMERICA MORTGAGE, INC. | $730,000 | $235,000 | -67.8% | 0.2% |
| AMERICAN FINANCIAL RESOURCES, INC. | $240,000 | $215,000 | -10.4% | 0.2% |
| ENDEAVOR CAPITAL, LLC. | $135,000 | $215,000 | 59.3% | 0.2% |
| GUARANTY HOME MORTGAGE CORPORATION | $435,000 | $215,000 | -50.6% | 0.2% |
| The Huntington National Bank | $75,000 | $210,000 | 180.0% | 0.2% |
| Coastal Community Bank | $205,000 | n/a | 0.1% | |
| Morgan Stanley Private Bank | $205,000 | n/a | 0.1% | |
| The Cecilian Bank | $205,000 | $205,000 | 0.0% | 0.1% |
| Waterstone Mortgage Corporation | $205,000 | n/a | 0.1% | |
| SWBC MORTGAGE CORPORATION | $200,000 | n/a | 0.1% | |
| Republic Bank & Trust Company | $610,000 | $195,000 | -68.0% | 0.1% |
| SOUTH CENTRAL BANK, INC. | $760,000 | $195,000 | -74.3% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $145,000 | $190,000 | 31.0% | 0.1% |
| Stock Yards Bank & Trust Company | $560,000 | $185,000 | -67.0% | 0.1% |
| CROSSCOUNTRY MORTGAGE, LLC | $380,000 | $170,000 | -55.3% | 0.1% |
| L & N Federal Credit Union | $255,000 | $170,000 | -33.3% | 0.1% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $170,000 | n/a | 0.1% | |
| LIBERTY HOME MORTGAGE CORPORATION | $165,000 | n/a | 0.1% | |
| Merchants Bank of Indiana | $165,000 | n/a | 0.1% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $165,000 | n/a | 0.1% | |
| SeaTrust Mortgage Company | $165,000 | n/a | 0.1% | |
| AXIA FINANCIAL, LLC | $155,000 | n/a | 0.1% | |
| EMERY FEDERAL CREDIT UNION | $155,000 | n/a | 0.1% | |
| LONGBRIDGE FINANCIAL, LLC | $145,000 | n/a | 0.1% | |
| SOUTHWEST STAGE FUNDING, LLC | $145,000 | n/a | 0.1% | |
| SUN WEST MORTGAGE COMPANY, INC. | $105,000 | $145,000 | 38.1% | 0.1% |
| Paramount Residential Mortgage Group, Inc. | $155,000 | $140,000 | -9.7% | 0.1% |
| Flagstar Bank, FSB | $45,000 | $135,000 | 200.0% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $135,000 | n/a | 0.1% | |
| FINANCE OF AMERICA REVERSE LLC | $130,000 | n/a | 0.1% | |
| AMERICAN FINANCIAL NETWORK, INC. | $125,000 | n/a | 0.1% | |
| Beeline Loans, Inc. | $125,000 | n/a | 0.1% | |
| MEMBERS HERITAGE Credit Union | $235,000 | $120,000 | -48.9% | 0.1% |
| AMWEST FUNDING CORP. | $105,000 | n/a | 0.1% | |
| Central Bank | $1,850,000 | $105,000 | -94.3% | 0.1% |
| First Horizon Bank | $105,000 | n/a | 0.1% | |
| First National Bank of America | $105,000 | n/a | 0.1% | |
| NEXERA HOLDING LLC | $105,000 | n/a | 0.1% | |
| Barrington Bank & Trust Company, N.A. | $595,000 | $95,000 | -84.0% | 0.1% |
| WesBanco | $105,000 | $95,000 | -9.5% | 0.1% |
| First Savings Bank | $145,000 | $85,000 | -41.4% | 0.1% |
| The Farmers Bank | $825,000 | $85,000 | -89.7% | 0.1% |
| Centier Bank | $75,000 | n/a | 0.1% | |
| Connexus Credit Union | $75,000 | n/a | 0.1% | |
| Signature Federal Credit Union | $75,000 | n/a | 0.1% | |
| TRIAD FINANCIAL SERVICES, INC. | $75,000 | n/a | 0.1% | |
| M&T Bank | $135,000 | $65,000 | -51.9% | 0.0% |
| Third Federal Savings and Loan Association of Cleveland | $65,000 | n/a | 0.0% | |
| Bank of America | $55,000 | n/a | 0.0% | |
| Discover Bank | $55,000 | n/a | 0.0% | |
| Forcht Bank | $145,000 | $55,000 | -62.1% | 0.0% |
| Peoples Bank | $55,000 | n/a | 0.0% | |
| Regions Bank | $55,000 | n/a | 0.0% | |
| City National Bank of West Virginia | $45,000 | n/a | 0.0% |
Danville's top lender by overall market share is GENEVA FINANCIAL, LLC, with 7.8% market share. In second place, with 5.9%, is QUICKEN LOANS, LLC, having originated $8,140,000 in loans. In third place, with 5.3%, is Whitaker Bank, having originated $7,325,000 in loans. In fourth place, with 5.2%, is Abound Federal Credit Union, having originated $7,190,000 in loans. In fifth place, with 5.1%, is HOMESIDE FINANCIAL, LLC, having originated $7,075,000 in loans.
Danville, KY Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 528 | $98,850,000 | $187,216 |
| Cash Out Refi | 102 | $15,170,000 | $148,725 |
| Refi | 85 | $13,155,000 | $154,765 |
| Home Improvement | 75 | $4,545,000 | $60,600 |
| Other | 68 | $5,750,000 | $84,559 |
Danville's most frequently cited loan purpose was Home Purchase, with 528 originations. The 2nd most popular reason was Cash Out Refi, with 102 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 351 | $64,315,000 | $183,234 |
| 7-8% | 187 | $28,285,000 | $151,257 |
| Over 8% | 158 | $15,890,000 | $100,570 |
| 5-6% | 106 | $21,900,000 | $206,604 |
| 3-4% | 23 | $555,000 | $24,130 |
| 4-5% | 3 | $625,000 | $208,333 |
| <2.5% | 2 | $830,000 | $415,000 |
During 2023, Danville's most frequently originated rate bucket was 6-7%, with 351 originations.
Loan Sizing (Danville, KY MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 349 | $51,665,000 | $148,037 |
| $100,000 or less | 278 | $15,190,000 | $54,640 |
| $200k-400k | 199 | $52,415,000 | $263,392 |
| $400k-600k | 25 | $11,885,000 | $475,400 |
| $600k-1000k | 5 | $3,505,000 | $701,000 |
| $Over $1MM | 2 | $2,810,000 | $1,405,000 |
Danville's loan sizing saw the bucket of loans from $100k-200k with 349 originations, totaling $51,665,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 373 | $73,855,000 | $198,003 |
| 60-80% | 164 | $29,930,000 | $182,500 |
| 20-40% | 110 | $8,610,000 | $78,273 |
| Under 20% | 97 | $4,055,000 | $41,804 |
| 40-60% | 71 | $10,925,000 | $153,873 |
| Over 100% | 10 | $2,540,000 | $254,000 |
Danville's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 373 originations, totaling $73,855,000 in origination value.