Dayton Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Dayton averaged
6.93%
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
7.27% and
one month ago for the week of 2023-08-10, the
average rate was 7.11%.
Dayton's average rate one year ago was 5.94%.
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% |
| Dayton 30 Year Fixed Rate | 2023-09-14 | 6.93% |
| Dayton 30 Year Fixed Rate Refi | 2023-09-14 | 7.48% |
| Dayton 15 Year Fixed Rate | 2023-09-14 | 6.51% |
| Dayton 15 Year Fixed Rate Refi | 2023-09-14 | 6.91% |
| Dayton 30 Year FHA | 2023-09-14 | 6.68% |
| Dayton 30 Year FHA Refi | 2023-09-14 | 7.19% |
| Dayton 30 Year USDA | 2023-09-14 | 6.78% |
| Dayton 30 Year USDA Refi | 2023-09-14 | 7.08% |
| Dayton 30 Year VA | 2023-09-14 | 7.01% |
| Dayton 30 Year VA Refi | 2023-09-14 | 6.61% |
Dayton 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 Dayton, 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.).
Dayton Average Closing Costs & Other Stats
Dayton, TN's 87 lenders originated 806
loans during 2022. The total origination value was $169,710,000, with an average loan value of
$210,558.
Dayton's average closing costs are $5,068.
The top Dayton lender as defined by loan originations is QUICKEN LOANS, LLC, with
33 loans originated. Their average total fees are
$6,632, which is $466
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Dayton lenders (with over 10 loans originated) are
TENNESSEE VALLEY ($3,866), FirstBank ($4,448), MORTGAGE INVESTORS GROUP, INC. ($5,052), LOANDEPOT.COM, LLC ($5,361) and UNITED WHOLESALE MORTGAGE, LLC ($6,166).
The lowest rate Dayton lenders (with over 10 loans originated) are
LOANDEPOT.COM, LLC (3.85%), MORTGAGE INVESTORS GROUP, INC. (4.36%), TENNESSEE VALLEY (4.40%), FirstBank (4.45%) and QUICKEN LOANS, LLC (5.18%).
Dayton, 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 |
|---|---|---|---|---|
| FirstBank | $9,325,000 | $13,150,000 | 41.0% | 7.7% |
| QUICKEN LOANS, LLC | $21,650,000 | $10,485,000 | -51.6% | 6.2% |
| SouthEast Bank | $3,645,000 | $9,105,000 | 149.8% | 5.4% |
| UNITED WHOLESALE MORTGAGE, LLC | $3,230,000 | $8,075,000 | 150.0% | 4.8% |
| TENNESSEE VALLEY | $5,230,000 | $6,445,000 | 23.2% | 3.8% |
| FIRST COMMUNITY MORTGAGE, INC. | $9,835,000 | $6,185,000 | -37.1% | 3.6% |
| MORTGAGE INVESTORS GROUP, INC. | $6,020,000 | $5,965,000 | -0.9% | 3.5% |
| Renasant Bank | $2,985,000 | $5,000,000 | 67.5% | 2.9% |
| Mortgage Research Center, LLC | $4,310,000 | $4,805,000 | 11.5% | 2.8% |
| LOANDEPOT.COM, LLC | $3,860,000 | $3,805,000 | -1.4% | 2.2% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $2,610,000 | $3,515,000 | 34.7% | 2.1% |
| TJC Mortgage, Inc. | $5,745,000 | $3,470,000 | -39.6% | 2.0% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $3,320,000 | $3,370,000 | 1.5% | 2.0% |
| CMG MORTGAGE, INC. | $2,025,000 | $3,145,000 | 55.3% | 1.9% |
| Regions Bank | $5,955,000 | $3,145,000 | -47.2% | 1.9% |
| CALIBER HOME LOANS, INC. | $6,425,000 | $3,080,000 | -52.1% | 1.8% |
| MOVEMENT MORTGAGE, LLC | $3,040,000 | $2,770,000 | -8.9% | 1.6% |
| The First National Bank of Middle Tennessee | $2,090,000 | $2,650,000 | 26.8% | 1.6% |
| Citizens Tri-County Bank | $2,415,000 | $2,330,000 | -3.5% | 1.4% |
| AgFirst Farm Credit Bank | $1,890,000 | $2,115,000 | 11.9% | 1.2% |
| Wells Fargo Bank | $1,150,000 | $1,820,000 | 58.3% | 1.1% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $180,000 | $1,780,000 | 888.9% | 1.0% |
| PENNYMAC LOAN SERVICES, LLC | $2,600,000 | $1,775,000 | -31.7% | 1.0% |
| AMERISAVE MORTGAGE CORPORATION | $730,000 | $1,760,000 | 141.1% | 1.0% |
| HOME POINT FINANCIAL CORPORATION | $4,345,000 | $1,745,000 | -59.8% | 1.0% |
| Simply Bank | $2,350,000 | $1,705,000 | -27.4% | 1.0% |
| MILLENNIUM BANK | $2,840,000 | $1,600,000 | -43.7% | 0.9% |
| U.S. Bank | $670,000 | $1,595,000 | 138.1% | 0.9% |
| Farm Credit Mid-America, ACA | $1,540,000 | n/a | 0.9% | |
| Gateway First Bank | $1,735,000 | $1,530,000 | -11.8% | 0.9% |
| CapStar Bank | $335,000 | $1,460,000 | 335.8% | 0.9% |
| Flagstar Bank, FSB | $1,920,000 | $1,445,000 | -24.7% | 0.9% |
| Mr. Cooper ( Nationstar Mortgage ) | $2,775,000 | $1,420,000 | -48.8% | 0.8% |
| FREEDOM MORTGAGE CORPORATION | $5,300,000 | $1,260,000 | -76.2% | 0.7% |
| CROSSCOUNTRY MORTGAGE, LLC | $1,970,000 | $1,155,000 | -41.4% | 0.7% |
| Truist | $2,355,000 | $1,145,000 | -51.4% | 0.7% |
| United Community Bank | $185,000 | $1,005,000 | 443.2% | 0.6% |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $2,155,000 | $975,000 | -54.8% | 0.6% |
| Bank of Cleveland | $415,000 | $920,000 | 121.7% | 0.5% |
| PNC Bank | $435,000 | $860,000 | 97.7% | 0.5% |
| NAVY FEDERAL CREDIT UNION | $1,770,000 | $855,000 | -51.7% | 0.5% |
| Capital City Home Loans, LLC | $815,000 | n/a | 0.5% | |
| LAKEVIEW LOAN SERVICING, LLC | $380,000 | $805,000 | 111.8% | 0.5% |
| SUCCESS MORTGAGE PARTNERS, INC. | $805,000 | n/a | 0.5% | |
| SOUTHWEST FUNDING, LP | $115,000 | $800,000 | 595.7% | 0.5% |
| STOCKTON MORTGAGE CORPORATION | $1,315,000 | $800,000 | -39.2% | 0.5% |
| CHURCHILL MORTGAGE CORPORATION | $1,545,000 | $790,000 | -48.9% | 0.5% |
| Citizens Bank | $3,190,000 | $770,000 | -75.9% | 0.5% |
| The Federal Savings Bank | $125,000 | $695,000 | 456.0% | 0.4% |
| River Valley AgCredit, ACA | $675,000 | n/a | 0.4% | |
| COMMUNITY MORTGAGE CORPORATION | $360,000 | $665,000 | 84.7% | 0.4% |
| GUARANTEED RATE, INC. | $665,000 | n/a | 0.4% | |
| First Horizon Bank | $650,000 | $660,000 | 1.5% | 0.4% |
| Home Federal Bank of Tennessee | $1,000,000 | $645,000 | -35.5% | 0.4% |
| BROKER SOLUTIONS, INC. | $1,795,000 | $640,000 | -64.3% | 0.4% |
| AMERICAN FINANCIAL RESOURCES, INC. | $1,245,000 | $610,000 | -51.0% | 0.4% |
| Bank of America | $560,000 | $605,000 | 8.0% | 0.4% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $595,000 | n/a | 0.4% | |
| PLANET HOME LENDING, LLC | $1,725,000 | $575,000 | -66.7% | 0.3% |
| Carrington Mortgage Services, LLC | $455,000 | $560,000 | 23.1% | 0.3% |
| LEADERONE FINANCIAL CORPORATION | $175,000 | $545,000 | 211.4% | 0.3% |
| Plains Commerce Bank | $515,000 | n/a | 0.3% | |
| NETWORK CAPITAL FUNDING CORPORATION | $510,000 | n/a | 0.3% | |
| USAA Federal Savings Bank | $480,000 | $510,000 | 6.3% | 0.3% |
| Chicago Mortgage Solutions LLC | $505,000 | n/a | 0.3% | |
| ZILLOW HOME LOANS, LLC | $510,000 | $505,000 | -1.0% | 0.3% |
| NFM, INC. | $490,000 | n/a | 0.3% | |
| KNOXVILLE TVA EMPLOYEES CREDIT UNION | $370,000 | $480,000 | 29.7% | 0.3% |
| JAMES B. NUTTER & COMPANY | $465,000 | n/a | 0.3% | |
| Y-12 Federal Credit Union | $275,000 | $460,000 | 67.3% | 0.3% |
| Countybank | $335,000 | $455,000 | 35.8% | 0.3% |
| Pinnacle Bank | $1,795,000 | $435,000 | -75.8% | 0.3% |
| Synovus Bank | $435,000 | n/a | 0.3% | |
| GUARANTEED RATE AFFINITY, LLC | $430,000 | n/a | 0.3% | |
| ISERVE RESIDENTIAL LENDING, LLC | $940,000 | $430,000 | -54.3% | 0.3% |
| LENDINGHOME FUNDING CORPORATION | $105,000 | $430,000 | 309.5% | 0.3% |
| Simmons Bank | $145,000 | $430,000 | 196.6% | 0.3% |
| NEW DAY FINANCIAL, LLC | $770,000 | $420,000 | -45.5% | 0.2% |
| AMERICAN ADVISORS GROUP | $360,000 | $410,000 | 13.9% | 0.2% |
| CLEARPATH LENDING | $300,000 | $400,000 | 33.3% | 0.2% |
| ORNL Federal Credit Union | $2,770,000 | $395,000 | -85.7% | 0.2% |
| GUARANTY HOME MORTGAGE CORPORATION | $215,000 | $380,000 | 76.7% | 0.2% |
| Loan Simple, Inc. | $365,000 | n/a | 0.2% | |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $355,000 | n/a | 0.2% | |
| LONGBRIDGE FINANCIAL, LLC | $65,000 | $350,000 | 438.5% | 0.2% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $330,000 | $345,000 | 4.5% | 0.2% |
| GENEVA FINANCIAL, LLC | $755,000 | $345,000 | -54.3% | 0.2% |
| Nations Lending Corporation | $325,000 | $340,000 | 4.6% | 0.2% |
| PHH Mortgage Corporation | $340,000 | n/a | 0.2% | |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $335,000 | n/a | 0.2% | |
| Northpointe Bank | $310,000 | n/a | 0.2% | |
| CANOPY MORTGAGE, LLC | $305,000 | n/a | 0.2% | |
| NexBank | $305,000 | n/a | 0.2% | |
| CORNERSTONE HOME LENDING, INC. | $275,000 | n/a | 0.2% | |
| SUMMIT FUNDING, INC. | $85,000 | $270,000 | 217.6% | 0.2% |
| 21ST MORTGAGE CORPORATION | $75,000 | $265,000 | 253.3% | 0.2% |
| Bowater Employees Credit Union | $260,000 | n/a | 0.2% | |
| SmartBank | $365,000 | $260,000 | -28.8% | 0.2% |
| HomePromise Corporation | $255,000 | n/a | 0.2% | |
| UNION HOME MORTGAGE CORP. | $680,000 | $255,000 | -62.5% | 0.2% |
| BancorpSouth Bank | $355,000 | $245,000 | -31.0% | 0.1% |
| First Savings Bank | $245,000 | n/a | 0.1% | |
| Kwik Mortgage Corporation | $235,000 | n/a | 0.1% | |
| Low VA Rates, LLC | $135,000 | $235,000 | 74.1% | 0.1% |
| Amerifirst Financial, Inc. | $225,000 | n/a | 0.1% | |
| CIS Financial Services, Inc. | $225,000 | n/a | 0.1% | |
| GUARANTY MORTGAGE SERVICES, L.L.C. | $145,000 | $225,000 | 55.2% | 0.1% |
| Toyota Financial Savings Bank | $225,000 | n/a | 0.1% | |
| KEMBA FINANCIAL | $215,000 | n/a | 0.1% | |
| MEMBER FIRST MORTGAGE, LLC | $370,000 | $215,000 | -41.9% | 0.1% |
| Mid-Continent Funding, Inc. | $355,000 | $215,000 | -39.4% | 0.1% |
| VAN DYK MORTGAGE CORPORATION | $1,085,000 | $215,000 | -80.2% | 0.1% |
| Vibrant Credit Union | $215,000 | n/a | 0.1% | |
| EVERETT FINANCIAL, INC. | $205,000 | n/a | 0.1% | |
| First National Bank | $205,000 | n/a | 0.1% | |
| NEWREZ LLC | $675,000 | $205,000 | -69.6% | 0.1% |
| Third Federal Savings and Loan Association of Cleveland | $205,000 | n/a | 0.1% | |
| ACOPIA, LLC | $195,000 | n/a | 0.1% | |
| Bank of England | $795,000 | $195,000 | -75.5% | 0.1% |
| CHERRY CREEK MORTGAGE, LLC | $195,000 | n/a | 0.1% | |
| PREMIA MORTGAGE, LLC | $195,000 | n/a | 0.1% | |
| First Citizens National Bank | $1,535,000 | $185,000 | -87.9% | 0.1% |
| OPEN MORTGAGE, LLC | $185,000 | n/a | 0.1% | |
| AMERICAN FINANCING CORPORATION | $310,000 | $175,000 | -43.5% | 0.1% |
| M&T Bank | $175,000 | n/a | 0.1% | |
| Hometown Lenders, Inc. | $455,000 | $165,000 | -63.7% | 0.1% |
| Legends Bank | $165,000 | n/a | 0.1% | |
| Mountain Valley Bank | $295,000 | $155,000 | -47.5% | 0.1% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $600,000 | $155,000 | -74.2% | 0.1% |
| TRIAD FINANCIAL SERVICES, INC. | $205,000 | $155,000 | -24.4% | 0.1% |
| CONTOUR MORTGAGE CORPORATION | $145,000 | n/a | 0.1% | |
| Discover Bank | $140,000 | n/a | 0.1% | |
| Texana Bank | $135,000 | n/a | 0.1% | |
| DEEPHAVEN MORTGAGE LLC | $125,000 | n/a | 0.1% | |
| GEORGIA UNITED | $125,000 | n/a | 0.1% | |
| JPMorgan Chase Bank | $805,000 | $125,000 | -84.5% | 0.1% |
| RELIANCE FIRST CAPITAL, LLC | $175,000 | $125,000 | -28.6% | 0.1% |
| 1ST SIGNATURE LENDING, LLC | $105,000 | $105,000 | 0.0% | 0.1% |
| GUILD MORTGAGE COMPANY | $105,000 | $105,000 | 0.0% | 0.1% |
| JLB CORPORATION | $125,000 | $105,000 | -16.0% | 0.1% |
| SOUTHWEST STAGE FUNDING, LLC | $480,000 | $105,000 | -78.1% | 0.1% |
| VERITAS FUNDING, LLC | $105,000 | n/a | 0.1% | |
| Wyndham Capital Mortgage, Inc. | $95,000 | n/a | 0.1% | |
| Figure Lending LLC | $35,000 | $90,000 | 157.1% | 0.1% |
| First Bank | $75,000 | n/a | 0.0% | |
| Peoples Bank of East Tennessee | $75,000 | n/a | 0.0% | |
| U. T. | $75,000 | n/a | 0.0% | |
| First Volunteer Bank | $55,000 | n/a | 0.0% | |
| Georgia Banking Company | $55,000 | n/a | 0.0% | |
| THE TENNESSEE CREDIT UNION | $55,000 | n/a | 0.0% | |
| Wilson Bank And Trust | $55,000 | n/a | 0.0% | |
| HOMESIDE FINANCIAL, LLC | $175,000 | $35,000 | -80.0% | 0.0% |
| Bethpage Federal Credit Union | $25,000 | n/a | 0.0% |
Dayton's top lender by overall market share is FirstBank, with 7.7% market share. In second place, with 6.2%, is QUICKEN LOANS, LLC, having originated $10,485,000 in loans. In third place, with 5.4%, is SouthEast Bank, having originated $9,105,000 in loans. In fourth place, with 4.8%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $8,075,000 in loans. In fifth place, with 3.8%, is TENNESSEE VALLEY, having originated $6,445,000 in loans.
Dayton, TN Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 404 | $96,860,000 | $239,752 |
| Cash Out Refi | 173 | $33,305,000 | $192,514 |
| Refi | 120 | $29,160,000 | $243,000 |
| Home Improvement | 57 | $5,435,000 | $95,351 |
| Other | 52 | $4,950,000 | $95,192 |
Dayton's most frequently cited loan purpose was Home Purchase, with 404 originations. The 2nd most popular reason was Cash Out Refi, with 173 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 210 | $49,960,000 | $237,905 |
| 3-4% | 168 | $38,740,000 | $230,595 |
| 4-5% | 160 | $33,620,000 | $210,125 |
| 6-7% | 82 | $17,110,000 | $208,659 |
| 7-8% | 39 | $6,065,000 | $155,513 |
| 2.5-3% | 32 | $6,820,000 | $213,125 |
| Over 8% | 15 | $2,235,000 | $149,000 |
| <2.5% | 6 | $1,120,000 | $186,667 |
During 2022, Dayton's most frequently originated rate bucket was 5-6%, with 210 originations.
Loan Sizing (Dayton, TN MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 319 | $47,255,000 | $148,135 |
| $200k-400k | 262 | $70,010,000 | $267,214 |
| $100,000 or less | 158 | $9,690,000 | $61,329 |
| $400k-600k | 47 | $22,475,000 | $478,191 |
| $600k-1000k | 15 | $10,725,000 | $715,000 |
| $Over $1MM | 5 | $9,555,000 | $1,911,000 |
Dayton's loan sizing saw the bucket of loans from $100k-200k with 319 originations, totaling $47,255,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 305 | $75,685,000 | $248,148 |
| 60-80% | 179 | $47,935,000 | $267,793 |
| 40-60% | 107 | $20,205,000 | $188,832 |
| 20-40% | 60 | $6,680,000 | $111,333 |
| Under 20% | 47 | $2,465,000 | $52,447 |
| Over 100% | 14 | $2,840,000 | $202,857 |
Dayton's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 305 originations, totaling $75,685,000 in origination value.