Douglas Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Douglas averaged
6.44%
for the week of 2024-10-24, compared to the national average of
6.54% for the same period.
The average rate for the prior week (2024-10-17) was
6.44% and
one month ago for the week of 2024-09-19, the
average rate was 5.99%.
Douglas's average rate one year ago was 7.43%.
For refis of the same type during the week of 2024-10-24, the average rate
was 7.04%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-24 | 6.54% |
Douglas 30 Year Fixed Rate | 2024-10-24 | 6.44% |
Douglas 30 Year Fixed Rate Refi | 2024-10-24 | 7.04% |
Douglas 15 Year Fixed Rate | 2024-10-24 | 5.51% |
Douglas 15 Year Fixed Rate Refi | 2024-10-24 | 5.91% |
Douglas 30 Year FHA | 2024-10-24 | 5.89% |
Douglas 30 Year FHA Refi | 2024-10-24 | 6.15% |
Douglas 30 Year USDA | 2024-10-24 | 6.19% |
Douglas 30 Year USDA Refi | 2024-10-24 | 6.49% |
Douglas 30 Year VA | 2024-10-24 | 6.24% |
Douglas 30 Year VA Refi | 2024-10-24 | 6.24% |
Douglas 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 Douglas, GA 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 |
---|---|---|---|
Renasant Bank | 8 | 7.00% | $4,676 |
Ameris Bank | 5 | 6.88% | $8,109 |
QUICKEN LOANS, LLC | 4 | 6.28% | $5,582 |
Wells Fargo Bank | 4 | 7.41% | $4,334 |
UNITED WHOLESALE MORTGAGE, LLC | 3 | 5.99% | $11,985 |
AMERISAVE MORTGAGE CORPORATION | 2 | 6.25% | $5,886 |
Flagstar Bank, FSB | 1 | 6.63% | $4,831 |
21ST MORTGAGE CORPORATION | 1 | 7.55% | $5,799 |
NAVY FEDERAL CREDIT UNION | 1 | 5.50% | $2,223 |
Prosperity Home Mortgage, LLC | 1 | 7.00% | $4,038 |
ROYAL UNITED MORTGAGE LLC | 1 | 7.13% | $5,463 |
SOUTHPOINT FINANCIAL SERVICES, INC. | 1 | 6.13% | $1,181 |
Suncoast Credit Union | 1 | 5.25% | $2,637 |
LAKEVIEW LOAN SERVICING, LLC | 1 | 7.50% | $6,237 |
ADDITION FINANCIAL | 1 | 6.00% | $3,579 |
AgFirst Farm Credit Bank | 1 | 6.38% | $9,406 |
AMERICAN FINANCING CORPORATION | 1 | 6.75% | $4,504 |
Colony Bank | 1 | 6.50% | $4,197 |
Fifth Third Bank | 1 | 6.88% | $4,549 |
Douglas Average Closing Costs & Other Stats
Douglas, GA's 19 lenders originated 358
loans during 2023. The total origination value was $62,140,000, with an average loan value of
$173,575.
Douglas's average closing costs are $4,957.
The top Douglas lender as defined by loan originations is Renasant Bank, with
8 loans originated. Their average total fees are
$4,676, which is $3,433
lower than the next largest lender,
Ameris Bank.
The lowest fee Douglas lenders (with over 10 loans originated) are
.
The lowest rate Douglas lenders (with over 10 loans originated) are
.
Douglas, GA 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 |
---|---|---|---|---|
Renasant Bank | $16,415,000 | $13,115,000 | -20.1% | 21.1% |
FIRST NATIONAL BANK OF COFFEE COUNTY | $10,410,000 | n/a | 16.8% | |
Morris Bank | $5,475,000 | n/a | 8.8% | |
QUICKEN LOANS, LLC | $7,740,000 | $3,260,000 | -57.9% | 5.2% |
21ST MORTGAGE CORPORATION | $2,585,000 | $2,345,000 | -9.3% | 3.8% |
Ameris Bank | $2,635,000 | $2,265,000 | -14.0% | 3.6% |
UNITED WHOLESALE MORTGAGE, LLC | $5,605,000 | $1,720,000 | -69.3% | 2.8% |
LOANDEPOT.COM, LLC | $115,000 | $1,445,000 | 1,156.5% | 2.3% |
SOUTHPOINT FINANCIAL SERVICES, INC. | $855,000 | $1,400,000 | 63.7% | 2.3% |
AMERISAVE MORTGAGE CORPORATION | $1,060,000 | $1,300,000 | 22.6% | 2.1% |
Truist | $1,085,000 | $1,070,000 | -1.4% | 1.7% |
Mortgage Research Center, LLC | $2,590,000 | $1,030,000 | -60.2% | 1.7% |
NAVY FEDERAL CREDIT UNION | $155,000 | $930,000 | 500.0% | 1.5% |
TOWNE MORTGAGE COMPANY | $1,140,000 | $725,000 | -36.4% | 1.2% |
SOUTHEAST MORTGAGE OF GEORGIA, INC. | $690,000 | n/a | 1.1% | |
GUILD MORTGAGE COMPANY | $75,000 | $660,000 | 780.0% | 1.1% |
Wells Fargo Bank | $770,000 | $630,000 | -18.2% | 1.0% |
GUARANTEED RATE, INC. | $555,000 | $620,000 | 11.7% | 1.0% |
Colony Bank | $1,595,000 | $590,000 | -63.0% | 0.9% |
UNION HOME MORTGAGE CORP. | $385,000 | $515,000 | 33.8% | 0.8% |
Guardian Bank | $1,090,000 | $490,000 | -55.0% | 0.8% |
Prosperity Home Mortgage, LLC | $475,000 | n/a | 0.8% | |
MUTUAL OF OMAHA MORTGAGE, INC. | $400,000 | n/a | 0.6% | |
AgFirst Farm Credit Bank | $1,825,000 | $355,000 | -80.5% | 0.6% |
PENNYMAC LOAN SERVICES, LLC | $610,000 | $330,000 | -45.9% | 0.5% |
FREEDOM MORTGAGE CORPORATION | $380,000 | $290,000 | -23.7% | 0.5% |
MORTGAGE SOLUTIONS OF COLORADO, LLC | $145,000 | $285,000 | 96.6% | 0.5% |
FirstBank | $205,000 | $265,000 | 29.3% | 0.4% |
Notre Dame Federal Credit Union Corporation | $255,000 | n/a | 0.4% | |
TRIAD FINANCIAL SERVICES, INC. | $1,295,000 | $250,000 | -80.7% | 0.4% |
Fifth Third Bank | $245,000 | n/a | 0.4% | |
Presidential Bank, FSB | $245,000 | n/a | 0.4% | |
Southern States Bank | $2,975,000 | $240,000 | -91.9% | 0.4% |
HOMEBRIDGE FINANCIAL SERVICES, INC. | $225,000 | n/a | 0.4% | |
Unity Bank | $225,000 | n/a | 0.4% | |
MILEND, INC. | $205,000 | n/a | 0.3% | |
CANOPY MORTGAGE, LLC | $195,000 | n/a | 0.3% | |
CARDINAL FINANCIAL | $635,000 | $185,000 | -70.9% | 0.3% |
MEGASTAR FINANCIAL CORP. | $1,245,000 | $185,000 | -85.1% | 0.3% |
EMM LOANS LLC | $175,000 | n/a | 0.3% | |
HOMESTAR FINANCIAL CORPORATION | $1,000,000 | $170,000 | -83.0% | 0.3% |
MORTGAGE INVESTORS GROUP, INC. | $940,000 | $165,000 | -82.4% | 0.3% |
NEW DAY FINANCIAL, LLC | $910,000 | $165,000 | -81.9% | 0.3% |
Plains Commerce Bank | $155,000 | n/a | 0.2% | |
STOCKTON MORTGAGE CORPORATION | $155,000 | n/a | 0.2% | |
Suncoast Credit Union | $155,000 | n/a | 0.2% | |
CIS Financial Services, Inc. | $145,000 | n/a | 0.2% | |
VANDERBILT MORTGAGE AND FINANCE, INC. | $575,000 | $145,000 | -74.8% | 0.2% |
LAKEVIEW LOAN SERVICING, LLC | $135,000 | n/a | 0.2% | |
NEWREZ LLC | $230,000 | $135,000 | -41.3% | 0.2% |
ADDITION FINANCIAL | $125,000 | n/a | 0.2% | |
AXIA FINANCIAL, LLC | $125,000 | n/a | 0.2% | |
CROSSCOUNTRY MORTGAGE, LLC | $125,000 | n/a | 0.2% | |
AMWEST FUNDING CORP. | $105,000 | n/a | 0.2% | |
Nations Lending Corporation | $105,000 | n/a | 0.2% | |
Figure Lending LLC | $95,000 | n/a | 0.2% | |
ROYAL UNITED MORTGAGE LLC | $85,000 | $95,000 | 11.8% | 0.2% |
BROKER SOLUTIONS, INC. | $285,000 | $85,000 | -70.2% | 0.1% |
First-Citizens Bank & Trust Company | $85,000 | n/a | 0.1% | |
Flagstar Bank, FSB | $390,000 | $85,000 | -78.2% | 0.1% |
AMERICAN FINANCING CORPORATION | $185,000 | $75,000 | -59.5% | 0.1% |
Farmers & Merchants Bank | $75,000 | n/a | 0.1% | |
PrimeSouth Bank | $70,000 | n/a | 0.1% | |
PLANET HOME LENDING, LLC | $65,000 | n/a | 0.1% | |
SPRING EQ, LLC | $55,000 | n/a | 0.1% | |
Mr. Cooper ( Nationstar Mortgage ) | $565,000 | $45,000 | -92.0% | 0.1% |
Bank of America | $25,000 | n/a | 0.0% | |
INTERSTATE UNLIMITED Federal Credit Union | $25,000 | n/a | 0.0% |
Douglas's top lender by overall market share is Renasant Bank, with 21.1% market share. In second place, with 16.8%, is FIRST NATIONAL BANK OF COFFEE COUNTY, having originated $10,410,000 in loans. In third place, with 8.8%, is Morris Bank, having originated $5,475,000 in loans. In fourth place, with 5.2%, is QUICKEN LOANS, LLC, having originated $3,260,000 in loans. In fifth place, with 3.8%, is 21ST MORTGAGE CORPORATION, having originated $2,345,000 in loans.
Douglas, GA Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 242 | $43,370,000 | $179,215 |
Cash Out Refi | 44 | $6,450,000 | $146,591 |
Refi | 28 | $8,510,000 | $303,929 |
Home Improvement | 26 | $2,460,000 | $94,615 |
Other | 18 | $1,350,000 | $75,000 |
Douglas's most frequently cited loan purpose was Home Purchase, with 242 originations. The 2nd most popular reason was Cash Out Refi, with 44 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 110 | $22,200,000 | $201,818 |
Over 8% | 54 | $5,020,000 | $92,963 |
7-8% | 44 | $7,190,000 | $163,409 |
5-6% | 39 | $8,255,000 | $211,667 |
<2.5% | 3 | $185,000 | $61,667 |
4-5% | 2 | $340,000 | $170,000 |
During 2023, Douglas's most frequently originated rate bucket was 6-7%, with 110 originations.
Loan Sizing (Douglas, GA MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 141 | $20,815,000 | $147,624 |
$100,000 or less | 127 | $7,495,000 | $59,016 |
$200k-400k | 79 | $21,355,000 | $270,316 |
$400k-600k | 8 | $3,860,000 | $482,500 |
$Over $1MM | 3 | $8,615,000 | $2,871,667 |
Douglas's loan sizing saw the bucket of loans from $100k-200k with 141 originations, totaling $20,815,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 169 | $32,635,000 | $193,107 |
60-80% | 49 | $8,405,000 | $171,531 |
Under 20% | 14 | $610,000 | $43,571 |
20-40% | 9 | $495,000 | $55,000 |
40-60% | 9 | $795,000 | $88,333 |
Over 100% | 1 | $145,000 | $145,000 |
Douglas's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 169 originations, totaling $32,635,000 in origination value.