El Dorado Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in El Dorado averaged
6.87%
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
6.67% and
one month ago for the week of 2024-09-19, the
average rate was 6.32%.
El Dorado's average rate one year ago was 7.86%.
For refis of the same type during the week of 2024-10-24, the average rate
was 6.74%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-24 | 6.54% |
El Dorado 30 Year Fixed Rate | 2024-10-24 | 6.87% |
El Dorado 30 Year Fixed Rate Refi | 2024-10-24 | 6.74% |
El Dorado 15 Year Fixed Rate | 2024-10-24 | 5.81% |
El Dorado 15 Year Fixed Rate Refi | 2024-10-24 | 6.21% |
El Dorado 30 Year FHA | 2024-10-24 | 6.09% |
El Dorado 30 Year FHA Refi | 2024-10-24 | 6.35% |
El Dorado 30 Year USDA | 2024-10-24 | 6.49% |
El Dorado 30 Year USDA Refi | 2024-10-24 | 6.19% |
El Dorado 30 Year VA | 2024-10-24 | 6.14% |
El Dorado 30 Year VA Refi | 2024-10-24 | 5.94% |
El Dorado 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 El Dorado, AR 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.).
El Dorado Average Closing Costs & Other Stats
El Dorado, AR's 30 lenders originated 432
loans during 2023. The total origination value was $68,100,000, with an average loan value of
$157,639.
El Dorado's average closing costs are $4,096.
The top El Dorado lender as defined by loan originations is First Financial Bank, with
17 loans originated. Their average total fees are
$3,311, which is $1,732
lower than the next largest lender,
HIGHLANDS RESIDENTIAL MORTGAGE, LTD..
The lowest fee El Dorado lenders (with over 10 loans originated) are
First Financial Bank ($3,311), UNITED WHOLESALE MORTGAGE, LLC ($4,713), HIGHLANDS RESIDENTIAL MORTGAGE, LTD. ($5,043), .
The lowest rate El Dorado lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (6.53%), HIGHLANDS RESIDENTIAL MORTGAGE, LTD. (6.93%), First Financial Bank (6.97%), .
El Dorado, AR 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 |
---|---|---|---|---|
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $13,835,000 | $9,685,000 | -30.0% | 14.2% |
FirstTrust Home Loans, Inc. | $6,795,000 | $5,805,000 | -14.6% | 8.5% |
UNITED WHOLESALE MORTGAGE, LLC | $6,280,000 | $5,380,000 | -14.3% | 7.9% |
QUICKEN LOANS, LLC | $8,630,000 | $4,550,000 | -47.3% | 6.7% |
EVERETT FINANCIAL, INC. | $6,280,000 | $4,490,000 | -28.5% | 6.6% |
First Financial Bank | $7,330,000 | $4,455,000 | -39.2% | 6.5% |
Regions Bank | $245,000 | $3,400,000 | 1,287.8% | 5.0% |
BancorpSouth | $5,335,000 | $2,950,000 | -44.7% | 4.3% |
Southern Bancorp Bank | $3,405,000 | $2,785,000 | -18.2% | 4.1% |
Simmons Bank | $5,580,000 | $2,595,000 | -53.5% | 3.8% |
Mortgage Research Center, LLC | $1,125,000 | $2,160,000 | 92.0% | 3.2% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $740,000 | $1,760,000 | 137.8% | 2.6% |
Gateway Bank | $1,685,000 | n/a | 2.5% | |
21ST MORTGAGE CORPORATION | $1,640,000 | $1,550,000 | -5.5% | 2.3% |
TRIAD FINANCIAL SERVICES, INC. | $1,265,000 | $1,080,000 | -14.6% | 1.6% |
Farm Credit Services of Western Arkansas, ACA | $275,000 | $880,000 | 220.0% | 1.3% |
UNITED BUILT HOMES, L.L.C. | $590,000 | n/a | 0.9% | |
CIS Financial Services, Inc. | $580,000 | n/a | 0.9% | |
Farmers Bank & Trust Company | $2,375,000 | $580,000 | -75.6% | 0.9% |
CIBM Bank | $565,000 | n/a | 0.8% | |
Wells Fargo Bank | $2,095,000 | $525,000 | -74.9% | 0.8% |
LOANDEPOT.COM, LLC | $670,000 | $495,000 | -26.1% | 0.7% |
PENNYMAC LOAN SERVICES, LLC | $55,000 | $495,000 | 800.0% | 0.7% |
Generations Bank | $955,000 | $385,000 | -59.7% | 0.6% |
JPMorgan Chase Bank | $970,000 | $385,000 | -60.3% | 0.6% |
Mr. Cooper ( Nationstar Mortgage ) | $625,000 | $380,000 | -39.2% | 0.6% |
ARKANSAS Federal Credit Union | $280,000 | $375,000 | 33.9% | 0.6% |
SOUTHWEST STAGE FUNDING, LLC | $550,000 | $335,000 | -39.1% | 0.5% |
NEW DAY FINANCIAL, LLC | $770,000 | $310,000 | -59.7% | 0.5% |
Arvest Bank | $640,000 | $285,000 | -55.5% | 0.4% |
NAVY FEDERAL CREDIT UNION | $1,350,000 | $285,000 | -78.9% | 0.4% |
Mid-Continent Funding, Inc. | $275,000 | n/a | 0.4% | |
Trustmark National Bank | $275,000 | n/a | 0.4% | |
FBT Bank & Mortgage | $255,000 | n/a | 0.4% | |
PREMIA MORTGAGE, LLC | $815,000 | $245,000 | -69.9% | 0.4% |
The Federal Savings Bank | $245,000 | n/a | 0.4% | |
THRIVE MORTGAGE, LLC | $240,000 | n/a | 0.4% | |
Eagle Bank and Trust Company | $450,000 | $235,000 | -47.8% | 0.3% |
Home Federal Bank | $235,000 | n/a | 0.3% | |
Origin Bank | $235,000 | n/a | 0.3% | |
CSL Financial, LLC | $520,000 | $225,000 | -56.7% | 0.3% |
AMERICAN PACIFIC MORTGAGE CORPORATION | $205,000 | n/a | 0.3% | |
First Horizon Bank | $250,000 | $205,000 | -18.0% | 0.3% |
U.S. Bank | $735,000 | $205,000 | -72.1% | 0.3% |
Bank of England | $290,000 | $195,000 | -32.8% | 0.3% |
GERSHMAN INVESTMENT CORP. | $195,000 | n/a | 0.3% | |
Figure Lending LLC | $75,000 | $190,000 | 153.3% | 0.3% |
Equity Prime Mortgage LLC | $850,000 | $180,000 | -78.8% | 0.3% |
COUNTRYPLACE MORTGAGE, LTD. | $935,000 | $170,000 | -81.8% | 0.2% |
BROKER SOLUTIONS, INC. | $170,000 | $165,000 | -2.9% | 0.2% |
FLAT BRANCH MORTGAGE, INC. | $165,000 | n/a | 0.2% | |
NEWREZ LLC | $165,000 | n/a | 0.2% | |
First National Bank of North Arkansas | $155,000 | n/a | 0.2% | |
TOP FLITE FINANCIAL, INC. | $155,000 | n/a | 0.2% | |
Assurance Financial Group, L.L.C. | $145,000 | n/a | 0.2% | |
Renasant Bank | $145,000 | n/a | 0.2% | |
LOANPAL, LLC | $75,000 | $135,000 | 80.0% | 0.2% |
DRAPER AND KRAMER MORTGAGE CORP. | $125,000 | n/a | 0.2% | |
Discover Bank | $115,000 | n/a | 0.2% | |
TELCOE FEDERAL CREDIT UNION | $115,000 | n/a | 0.2% | |
Barrington Bank & Trust Company, N.A. | $95,000 | n/a | 0.1% | |
SIRVA MORTGAGE, INC. | $95,000 | n/a | 0.1% | |
ZILLOW HOME LOANS, LLC | $85,000 | n/a | 0.1% | |
Coastal Community Bank | $70,000 | n/a | 0.1% | |
SPRING EQ, LLC | $65,000 | n/a | 0.1% | |
ACADEMY MORTGAGE CORPORATION | $155,000 | $55,000 | -64.5% | 0.1% |
Bank of America | $180,000 | $55,000 | -69.4% | 0.1% |
Century Next Bank | $215,000 | $55,000 | -74.4% | 0.1% |
PENTAGON FEDERAL CREDIT UNION | $35,000 | n/a | 0.1% | |
The First National Bank of Fort Smith | $35,000 | n/a | 0.1% | |
MUTUAL OF OMAHA MORTGAGE, INC. | $145,000 | $25,000 | -82.8% | 0.0% |
El Dorado's top lender by overall market share is HIGHLANDS RESIDENTIAL MORTGAGE, LTD., with 14.2% market share. In second place, with 8.5%, is FirstTrust Home Loans, Inc., having originated $5,805,000 in loans. In third place, with 7.9%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $5,380,000 in loans. In fourth place, with 6.7%, is QUICKEN LOANS, LLC, having originated $4,550,000 in loans. In fifth place, with 6.6%, is EVERETT FINANCIAL, INC., having originated $4,490,000 in loans.
El Dorado, AR Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 308 | $54,490,000 | $176,916 |
Cash Out Refi | 41 | $5,345,000 | $130,366 |
Refi | 40 | $5,700,000 | $142,500 |
Other | 27 | $1,605,000 | $59,444 |
Home Improvement | 16 | $960,000 | $60,000 |
El Dorado's most frequently cited loan purpose was Home Purchase, with 308 originations. The 2nd most popular reason was Cash Out Refi, with 41 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 158 | $27,190,000 | $172,089 |
Over 8% | 113 | $10,555,000 | $93,407 |
7-8% | 109 | $20,505,000 | $188,119 |
5-6% | 38 | $6,900,000 | $181,579 |
<2.5% | 2 | $230,000 | $115,000 |
4-5% | 2 | $570,000 | $285,000 |
During 2023, El Dorado's most frequently originated rate bucket was 6-7%, with 158 originations.
Loan Sizing (El Dorado, AR MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 166 | $9,380,000 | $56,506 |
$100k-200k | 160 | $23,920,000 | $149,500 |
$200k-400k | 95 | $24,955,000 | $262,684 |
$400k-600k | 6 | $2,790,000 | $465,000 |
$600k-1000k | 3 | $2,795,000 | $931,667 |
$Over $1MM | 2 | $4,260,000 | $2,130,000 |
El Dorado's loan sizing saw the bucket of loans from $100,000 or less with 166 originations, totaling $9,380,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 256 | $43,300,000 | $169,141 |
60-80% | 62 | $10,570,000 | $170,484 |
Under 20% | 31 | $935,000 | $30,161 |
40-60% | 30 | $6,470,000 | $215,667 |
20-40% | 29 | $1,535,000 | $52,931 |
Over 100% | 10 | $1,910,000 | $191,000 |
El Dorado's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 256 originations, totaling $43,300,000 in origination value.