ELKHART - GOSHEN Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Elkhart - Goshen averaged
7.06%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.69% and
one month ago for the week of 2024-10-03, the
average rate was 6.29%.
Elkhart - Goshen's average rate one year ago was 8.13%.
For refis of the same type during the week of 2024-11-07, the average rate
was 8.03%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Elkhart - Goshen 30 Year Fixed Rate | 2024-11-07 | 7.06% |
| Elkhart - Goshen 30 Year Fixed Rate Refi | 2024-11-07 | 8.03% |
| Elkhart - Goshen 15 Year Fixed Rate | 2024-11-07 | 6% |
| Elkhart - Goshen 15 Year Fixed Rate Refi | 2024-11-07 | 6.6% |
| Elkhart - Goshen 30 Year FHA | 2024-11-07 | 6.84% |
| Elkhart - Goshen 30 Year FHA Refi | 2024-11-07 | 6.43% |
| Elkhart - Goshen 30 Year USDA | 2024-11-07 | 6.28% |
| Elkhart - Goshen 30 Year USDA Refi | 2024-11-07 | 6.28% |
| Elkhart - Goshen 30 Year VA | 2024-11-07 | 6.82% |
| Elkhart - Goshen 30 Year VA Refi | 2024-11-07 | 6.44% |
ELKHART - GOSHEN 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 ELKHART-GOSHEN, IN 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.).
ELKHART - GOSHEN Average Closing Costs & Other Stats
ELKHART-GOSHEN, IN's 111 lenders originated 4,294
loans during 2023. The total origination value was $658,460,000, with an average loan value of
$153,344.
ELKHART - GOSHEN's average closing costs are $3,811.
The top ELKHART - GOSHEN lender as defined by loan originations is INTERRA CREDIT UNION, with
181 loans originated. Their average total fees are
$2,675, which is $1,513
lower than the next largest lender,
CARDINAL FINANCIAL.
The lowest fee ELKHART - GOSHEN lenders (with over 10 loans originated) are
INOVA FEDERAL CREDIT UNION ($1,817), Centier Bank ($1,906), EVERENCE FEDERAL CREDIT UNION ($2,233), First State Bank of Middlebury ($2,396) and TEACHERS CREDIT UNION ($2,617).
The lowest rate ELKHART - GOSHEN lenders (with over 10 loans originated) are
INTERRA CREDIT UNION (6.48%), KeyBank (6.50%), Wells Fargo Bank (6.50%), INOVA FEDERAL CREDIT UNION (6.64%) and Lake City Bank (6.74%).
ELKHART-GOSHEN, IN 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 |
|---|---|---|---|---|
| INTERRA CREDIT UNION | $120,680,000 | $79,415,000 | -34.2% | 12.1% |
| CARDINAL FINANCIAL | $71,430,000 | $59,445,000 | -16.8% | 9.0% |
| RUOFF MORTGAGE COMPANY, INC. | $49,530,000 | $42,730,000 | -13.7% | 6.5% |
| Lake City Bank | $49,780,000 | $38,615,000 | -22.4% | 5.9% |
| QUICKEN LOANS, LLC | $43,635,000 | $33,120,000 | -24.1% | 5.0% |
| 1st Source Bank | $43,425,000 | $28,655,000 | -34.0% | 4.4% |
| TEACHERS CREDIT UNION | $37,625,000 | $27,430,000 | -27.1% | 4.2% |
| CHURCHILL MORTGAGE CORPORATION | $7,165,000 | $23,350,000 | 225.9% | 3.5% |
| HALLMARK HOME MORTGAGE, LLC | $17,830,000 | $20,720,000 | 16.2% | 3.1% |
| Notre Dame Federal Credit Union Corporation | $26,050,000 | $19,270,000 | -26.0% | 2.9% |
| First State Bank of Middlebury | $47,260,000 | $18,945,000 | -59.9% | 2.9% |
| First Federal Savings Bank | $2,750,000 | $16,470,000 | 498.9% | 2.5% |
| UNITED WHOLESALE MORTGAGE, LLC | $11,370,000 | $13,660,000 | 20.1% | 2.1% |
| INOVA FEDERAL CREDIT UNION | $16,230,000 | $12,460,000 | -23.2% | 1.9% |
| GUARANTEED RATE, INC. | $37,215,000 | $11,630,000 | -68.7% | 1.8% |
| JPMorgan Chase Bank | $17,745,000 | $11,630,000 | -34.5% | 1.8% |
| EVERETT FINANCIAL, INC. | $22,490,000 | $10,830,000 | -51.8% | 1.6% |
| Horizon Bank | $28,220,000 | $8,845,000 | -68.7% | 1.3% |
| Farmers State Bank | $22,045,000 | $8,550,000 | -61.2% | 1.3% |
| The Campbell & Fetter Bank | $5,510,000 | $7,760,000 | 40.8% | 1.2% |
| Mortgage Research Center, LLC | $9,870,000 | $7,740,000 | -21.6% | 1.2% |
| Centier Bank | $6,540,000 | $6,655,000 | 1.8% | 1.0% |
| TRIAD FINANCIAL SERVICES, INC. | $6,355,000 | $6,065,000 | -4.6% | 0.9% |
| EVERENCE FEDERAL CREDIT UNION | $8,080,000 | $5,860,000 | -27.5% | 0.9% |
| KeyBank | $14,120,000 | $5,720,000 | -59.5% | 0.9% |
| Farm Credit Mid-America, ACA | $7,875,000 | $5,340,000 | -32.2% | 0.8% |
| LOANDEPOT.COM, LLC | $11,090,000 | $4,870,000 | -56.1% | 0.7% |
| UNITED | $8,550,000 | $4,670,000 | -45.4% | 0.7% |
| PNC Bank | $5,950,000 | $4,360,000 | -26.7% | 0.7% |
| The Huntington National Bank | $4,250,000 | $4,225,000 | -0.6% | 0.6% |
| Mr. Cooper ( Nationstar Mortgage ) | $8,635,000 | $3,875,000 | -55.1% | 0.6% |
| Northwest Bank | $2,955,000 | $3,670,000 | 24.2% | 0.6% |
| Wells Fargo Bank | $5,960,000 | $3,450,000 | -42.1% | 0.5% |
| BMO Harris Bank | $115,000 | $3,150,000 | 2,639.1% | 0.5% |
| Fifth Third Bank | $4,675,000 | $3,140,000 | -32.8% | 0.5% |
| GENEVA FINANCIAL, LLC | $2,035,000 | $2,940,000 | 44.5% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $7,495,000 | $2,785,000 | -62.8% | 0.4% |
| PENNYMAC LOAN SERVICES, LLC | $3,935,000 | $2,765,000 | -29.7% | 0.4% |
| First National Bank of Michigan | $2,755,000 | n/a | 0.4% | |
| U.S. Bank | $1,800,000 | $2,440,000 | 35.6% | 0.4% |
| Old National Bank | $9,295,000 | $2,425,000 | -73.9% | 0.4% |
| Nations Lending Corporation | $1,095,000 | $2,305,000 | 110.5% | 0.4% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $1,335,000 | $2,070,000 | 55.1% | 0.3% |
| LENDINGHOME FUNDING CORPORATION | $210,000 | $2,050,000 | 876.2% | 0.3% |
| NEWREZ LLC | $3,800,000 | $1,965,000 | -48.3% | 0.3% |
| CROSSCOUNTRY MORTGAGE, LLC | $1,930,000 | $1,920,000 | -0.5% | 0.3% |
| Circle Federal Credit Union | $2,550,000 | $1,790,000 | -29.8% | 0.3% |
| MOVEMENT MORTGAGE, LLC | $1,675,000 | n/a | 0.3% | |
| AMERISAVE MORTGAGE CORPORATION | $5,025,000 | $1,570,000 | -68.8% | 0.2% |
| USAA Federal Savings Bank | $560,000 | $1,550,000 | 176.8% | 0.2% |
| Discover Bank | $660,000 | $1,545,000 | 134.1% | 0.2% |
| The Federal Savings Bank | $880,000 | $1,440,000 | 63.6% | 0.2% |
| GVC MORTGAGE, INC. | $870,000 | $1,415,000 | 62.6% | 0.2% |
| Flagstar Bank, FSB | $2,605,000 | $1,390,000 | -46.6% | 0.2% |
| Northpointe Bank | $1,000,000 | $1,280,000 | 28.0% | 0.2% |
| BROKER SOLUTIONS, INC. | $2,185,000 | $1,270,000 | -41.9% | 0.2% |
| 21ST MORTGAGE CORPORATION | $1,145,000 | $1,220,000 | 6.6% | 0.2% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $2,835,000 | $1,210,000 | -57.3% | 0.2% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $1,135,000 | $1,165,000 | 2.6% | 0.2% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $2,380,000 | $1,105,000 | -53.6% | 0.2% |
| Chiphone Federal Credit Union | $805,000 | $1,070,000 | 32.9% | 0.2% |
| VAN DYK MORTGAGE CORPORATION | $3,015,000 | $1,025,000 | -66.0% | 0.2% |
| V.I.P. MORTGAGE, INC. | $3,030,000 | $990,000 | -67.3% | 0.2% |
| ZILLOW HOME LOANS, LLC | $870,000 | $985,000 | 13.2% | 0.1% |
| Three Rivers Federal Credit Union | $405,000 | $970,000 | 139.5% | 0.1% |
| LAKEVIEW LOAN SERVICING, LLC | $1,935,000 | $955,000 | -50.6% | 0.1% |
| DIAMOND RESIDENTIAL MORTGAGE CORPORATION | $345,000 | $940,000 | 172.5% | 0.1% |
| ACADEMY MORTGAGE CORPORATION | $440,000 | $920,000 | 109.1% | 0.1% |
| ON Q FINANCIAL, INC. | $920,000 | n/a | 0.1% | |
| Ally Bank | $445,000 | $865,000 | 94.4% | 0.1% |
| BEACON CREDIT UNION | $175,000 | $865,000 | 394.3% | 0.1% |
| Prosperity Home Mortgage, LLC | $865,000 | n/a | 0.1% | |
| BETTER MORTGAGE CORPORATION | $435,000 | $850,000 | 95.4% | 0.1% |
| NEW DAY FINANCIAL, LLC | $1,370,000 | $840,000 | -38.7% | 0.1% |
| STOCKTON MORTGAGE CORPORATION | $820,000 | n/a | 0.1% | |
| Carrington Mortgage Services, LLC | $2,025,000 | $815,000 | -59.8% | 0.1% |
| NBKC BANK | $325,000 | $800,000 | 146.2% | 0.1% |
| AMERICAN FINANCIAL NETWORK, INC. | $775,000 | n/a | 0.1% | |
| Honor Credit Union | $380,000 | $760,000 | 100.0% | 0.1% |
| Figure Lending LLC | $590,000 | $725,000 | 22.9% | 0.1% |
| OMNI Community Credit Union | $175,000 | $715,000 | 308.6% | 0.1% |
| Equity Prime Mortgage LLC | $1,185,000 | $700,000 | -40.9% | 0.1% |
| Elements Financial Federal Credit Union | $525,000 | $685,000 | 30.5% | 0.1% |
| MYCUMORTGAGE, LLC | $680,000 | n/a | 0.1% | |
| The Farmers & Merchants State Bank | $155,000 | $675,000 | 335.5% | 0.1% |
| NAVY FEDERAL CREDIT UNION | $1,905,000 | $630,000 | -66.9% | 0.1% |
| FINANCE OF AMERICA REVERSE LLC | $645,000 | $615,000 | -4.7% | 0.1% |
| INDIANA MEMBERS CREDIT UNION | $600,000 | n/a | 0.1% | |
| Mortgage Assurance Inc. | $945,000 | $585,000 | -38.1% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $1,275,000 | $585,000 | -54.1% | 0.1% |
| UNION HOME MORTGAGE CORP. | $850,000 | $580,000 | -31.8% | 0.1% |
| TOP FLITE FINANCIAL, INC. | $125,000 | $570,000 | 356.0% | 0.1% |
| ProFed Federal Credit Union | $560,000 | n/a | 0.1% | |
| SIRVA MORTGAGE, INC. | $555,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $1,075,000 | $520,000 | -51.6% | 0.1% |
| MEMBER FIRST MORTGAGE, LLC | $55,000 | $495,000 | 800.0% | 0.1% |
| FORUM Credit Union | $480,000 | n/a | 0.1% | |
| AMWEST FUNDING CORP. | $470,000 | n/a | 0.1% | |
| First Farmers Bank and Trust Company | $165,000 | $450,000 | 172.7% | 0.1% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $335,000 | $445,000 | 32.8% | 0.1% |
| LAKE MICHIGAN CREDIT UNION | $510,000 | $440,000 | -13.7% | 0.1% |
| OCEANSIDE MORTGAGE COMPANY | $680,000 | $435,000 | -36.0% | 0.1% |
| HOMESIDE FINANCIAL, LLC | $435,000 | $410,000 | -5.7% | 0.1% |
| Citizens Bank | $1,890,000 | $395,000 | -79.1% | 0.1% |
| GREENSTATE CREDIT UNION | $305,000 | $390,000 | 27.9% | 0.1% |
| MORTGAGE 1 INCORPORATED | $375,000 | n/a | 0.1% | |
| First Merchants Bank | $2,200,000 | $370,000 | -83.2% | 0.1% |
| Paramount Residential Mortgage Group, Inc. | $540,000 | $360,000 | -33.3% | 0.1% |
| Loan Simple, Inc. | $175,000 | $355,000 | 102.9% | 0.1% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $355,000 | n/a | 0.1% | |
| CRESCENT MORTGAGE COMPANY | $335,000 | n/a | 0.1% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $325,000 | n/a | 0.0% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $320,000 | n/a | 0.0% | |
| THRIVE MORTGAGE, LLC | $320,000 | n/a | 0.0% | |
| ALLIED MORTGAGE GROUP, INC. | $165,000 | $315,000 | 90.9% | 0.0% |
| SPRING EQ, LLC | $380,000 | $315,000 | -17.1% | 0.0% |
| OAK MORTGAGE, LLC | $85,000 | $310,000 | 264.7% | 0.0% |
| Arvest Bank | $105,000 | $300,000 | 185.7% | 0.0% |
| Truist | $215,000 | $300,000 | 39.5% | 0.0% |
| FirstBank | $65,000 | $295,000 | 353.8% | 0.0% |
| Grand Valley Bank | $295,000 | n/a | 0.0% | |
| Bank of America | $365,000 | $290,000 | -20.5% | 0.0% |
| CALIBER HOME LOANS, INC. | $2,270,000 | $285,000 | -87.4% | 0.0% |
| NORTHERN MORTGAGE SERVICES, LLC | $285,000 | n/a | 0.0% | |
| VERITAS FUNDING, LLC | $225,000 | $285,000 | 26.7% | 0.0% |
| Credence Funding Corporation | $255,000 | n/a | 0.0% | |
| OCMBC, INC. | $250,000 | n/a | 0.0% | |
| Goldwater Bank, N.A. | $245,000 | n/a | 0.0% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $340,000 | $245,000 | -27.9% | 0.0% |
| DRAPER AND KRAMER MORTGAGE CORP. | $235,000 | n/a | 0.0% | |
| CHERRY CREEK MORTGAGE, LLC | $465,000 | $225,000 | -51.6% | 0.0% |
| Magnolia Bank | $215,000 | n/a | 0.0% | |
| PENTAGON FEDERAL CREDIT UNION | $240,000 | $215,000 | -10.4% | 0.0% |
| American Mortgage & Equity Consultants, Inc. | $205,000 | n/a | 0.0% | |
| Bank of England | $580,000 | $205,000 | -64.7% | 0.0% |
| PLAZA HOME MORTGAGE, INC. | $460,000 | $205,000 | -55.4% | 0.0% |
| Superior Credit Union, Inc. | $205,000 | n/a | 0.0% | |
| GUILD MORTGAGE COMPANY | $195,000 | n/a | 0.0% | |
| LEADERONE FINANCIAL CORPORATION | $535,000 | $195,000 | -63.6% | 0.0% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $535,000 | $195,000 | -63.6% | 0.0% |
| CREDIT UNION ONE | $185,000 | n/a | 0.0% | |
| RELIANCE FIRST CAPITAL, LLC | $1,385,000 | $185,000 | -86.6% | 0.0% |
| Citibank | $175,000 | n/a | 0.0% | |
| DOMINION FINANCIAL SERVICES, LLC | $175,000 | n/a | 0.0% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $230,000 | $175,000 | -23.9% | 0.0% |
| LIBERTY HOME MORTGAGE CORPORATION | $175,000 | n/a | 0.0% | |
| Mid-Continent Funding, Inc. | $165,000 | n/a | 0.0% | |
| Quontic Bank | $165,000 | n/a | 0.0% | |
| CONSUMERS | $155,000 | n/a | 0.0% | |
| ENDEAVOR CAPITAL, LLC. | $145,000 | $155,000 | 6.9% | 0.0% |
| First Savings Bank | $155,000 | n/a | 0.0% | |
| FOUNDATION MORTGAGE CORPORATION | $155,000 | n/a | 0.0% | |
| AXIA FINANCIAL, LLC | $150,000 | n/a | 0.0% | |
| Southern Michigan Bank & Trust | $45,000 | $150,000 | 233.3% | 0.0% |
| DEEPHAVEN MORTGAGE LLC | $145,000 | n/a | 0.0% | |
| OPEN MORTGAGE, LLC | $410,000 | $145,000 | -64.6% | 0.0% |
| GUARANTEED RATE AFFINITY, LLC | $135,000 | n/a | 0.0% | |
| HOMEXPRESS MORTGAGE CORP. | $135,000 | n/a | 0.0% | |
| NATIONWIDE MORTGAGE BANKERS, INC. | $185,000 | $135,000 | -27.0% | 0.0% |
| NEXERA HOLDING LLC | $125,000 | n/a | 0.0% | |
| STAR USA FEDERAL CREDIT UNION | $125,000 | n/a | 0.0% | |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $120,000 | n/a | 0.0% | |
| LIMA ONE CAPITAL, LLC | $505,000 | $115,000 | -77.2% | 0.0% |
| PLANET HOME LENDING, LLC | $115,000 | $115,000 | 0.0% | 0.0% |
| Union Savings Bank | $115,000 | n/a | 0.0% | |
| Sierra Pacific Mortgage Company, Inc. | $95,000 | n/a | 0.0% | |
| MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $85,000 | n/a | 0.0% | |
| Third Federal Savings and Loan Association of Cleveland | $775,000 | $75,000 | -90.3% | 0.0% |
| Baxter Credit Union | $65,000 | n/a | 0.0% | |
| LONGBRIDGE FINANCIAL, LLC | $95,000 | $65,000 | -31.6% | 0.0% |
| Connexus Credit Union | $55,000 | n/a | 0.0% | |
| EVANSVILLE TEACHERS | $55,000 | n/a | 0.0% | |
| PURDUE FEDERAL CREDIT UNION | $45,000 | n/a | 0.0% | |
| Busey Bank | $11,275,000 | $25,000 | -99.8% | 0.0% |
ELKHART - GOSHEN's top lender by overall market share is INTERRA CREDIT UNION, with 12.1% market share. In second place, with 9.0%, is CARDINAL FINANCIAL, having originated $59,445,000 in loans. In third place, with 6.5%, is RUOFF MORTGAGE COMPANY, INC., having originated $42,730,000 in loans. In fourth place, with 5.9%, is Lake City Bank, having originated $38,615,000 in loans. In fifth place, with 5.0%, is QUICKEN LOANS, LLC, having originated $33,120,000 in loans.
ELKHART-GOSHEN, IN Average Rent (2023)
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| Zip Code | Metro | Studio Apartment Rent | 1BR Apartment Rent | 2BR Apartment Rent | 3BR Apartment Rent | 4BR Apartment Rent |
|---|---|---|---|---|---|---|
| 46507 | Elkhart-Goshen, IN MSA | $740 | $780 | $1,000 | $1,280 | $1,340 |
| 46514 | Elkhart-Goshen, IN MSA | $800 | $840 | $1,070 | $1,370 | $1,440 |
| 46515 | Elkhart-Goshen, IN MSA | $740 | $770 | $990 | $1,270 | $1,330 |
| 46516 | Elkhart-Goshen, IN MSA | $700 | $730 | $940 | $1,200 | $1,260 |
| 46517 | Elkhart-Goshen, IN MSA | $660 | $750 | $890 | $1,140 | $1,200 |
| 46526 | Elkhart-Goshen, IN MSA | $740 | $770 | $990 | $1,270 | $1,330 |
| 46527 | Elkhart-Goshen, IN MSA | $740 | $770 | $990 | $1,270 | $1,330 |
| 46528 | Elkhart-Goshen, IN MSA | $750 | $790 | $1,010 | $1,290 | $1,360 |
| 46530 | Elkhart-Goshen, IN MSA | $1,100 | $1,330 | $1,600 | $2,030 | $2,140 |
| 46540 | Elkhart-Goshen, IN MSA | $800 | $840 | $1,080 | $1,380 | $1,450 |
| 46542 | Elkhart-Goshen, IN MSA | $620 | $640 | $830 | $1,060 | $1,110 |
| 46543 | Elkhart-Goshen, IN MSA | $790 | $830 | $1,060 | $1,360 | $1,420 |
| 46550 | Elkhart-Goshen, IN MSA | $720 | $750 | $960 | $1,230 | $1,290 |
| 46553 | Elkhart-Goshen, IN MSA | $730 | $760 | $980 | $1,250 | $1,320 |
| 46561 | Elkhart-Goshen, IN MSA | $830 | $1,000 | $1,200 | $1,520 | $1,610 |
| 46565 | Elkhart-Goshen, IN MSA | $740 | $770 | $990 | $1,270 | $1,330 |
| 46567 | Elkhart-Goshen, IN MSA | $740 | $780 | $1,000 | $1,280 | $1,340 |
| 46573 | Elkhart-Goshen, IN MSA | $670 | $750 | $910 | $1,160 | $1,220 |
| 46767 | Elkhart-Goshen, IN MSA | $680 | $710 | $910 | $1,160 | $1,220 |
2022 Average & Median Rent Data Statistics
ELKHART-GOSHEN, IN average 1BR rent: $808, median: $770
ELKHART-GOSHEN, IN average 2BR rent: $1,021, median: $990
ELKHART-GOSHEN, IN average 3BR rent: $1,305, median: $1,270
ELKHART-GOSHEN, IN Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 2,256 | $448,240,000 | $198,688 |
| Cash Out Refi | 609 | $85,705,000 | $140,731 |
| Other | 517 | $41,455,000 | $80,184 |
| Home Improvement | 462 | $31,250,000 | $67,641 |
| Refi | 450 | $51,810,000 | $115,133 |
Elkhart - Goshen's most frequently cited loan purpose was Home Purchase, with 2,256 originations. The 2nd most popular reason was Cash Out Refi, with 609 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 1,301 | $114,355,000 | $87,898 |
| 6-7% | 1,213 | $244,545,000 | $201,603 |
| 7-8% | 1,133 | $210,735,000 | $185,997 |
| 5-6% | 287 | $60,675,000 | $211,411 |
| <2.5% | 205 | $7,075,000 | $34,512 |
| 2.5-3% | 74 | $4,410,000 | $59,595 |
| 3-4% | 23 | $2,545,000 | $110,652 |
| 4-5% | 17 | $3,215,000 | $189,118 |
During 2023, Elkhart - Goshen's most frequently originated rate bucket was Over 8%, with 1,301 originations.
Loan Sizing (ELKHART-GOSHEN, IN MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 1,721 | $82,675,000 | $48,039 |
| $100k-200k | 1,367 | $202,665,000 | $148,255 |
| $200k-400k | 1,044 | $279,710,000 | $267,921 |
| $400k-600k | 122 | $57,260,000 | $469,344 |
| $600k-1000k | 31 | $22,155,000 | $714,677 |
| $Over $1MM | 9 | $13,995,000 | $1,555,000 |
ELKHART - GOSHEN's loan sizing saw the bucket of loans from $100,000 or less with 1,721 originations, totaling $82,675,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 1,489 | $325,705,000 | $218,741 |
| Under 20% | 868 | $33,660,000 | $38,779 |
| 60-80% | 717 | $156,625,000 | $218,445 |
| 20-40% | 681 | $59,645,000 | $87,584 |
| 40-60% | 358 | $59,160,000 | $165,251 |
| Over 100% | 21 | $6,735,000 | $320,714 |
ELKHART - GOSHEN's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,489 originations, totaling $325,705,000 in origination value.