Enterprise Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Enterprise averaged 6.81% 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 7.23% and one month ago for the week of 2024-06-13, the average rate was 7.19%.

    Enterprise's average rate one year ago was 7.2%.

    For refis of the same type during the week of 2024-07-18, the average rate was 7.07%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-07-18 6.77%
    Enterprise 30 Year Fixed Rate 2024-07-18 6.81%
    Enterprise 30 Year Fixed Rate Refi 2024-07-18 7.07%
    Enterprise 15 Year Fixed Rate 2024-07-18 6.25%
    Enterprise 15 Year Fixed Rate Refi 2024-07-18 6.25%
    Enterprise 30 Year FHA 2024-07-18 6.38%
    Enterprise 30 Year FHA Refi 2024-07-18 6.39%
    Enterprise 30 Year USDA 2024-07-18 6.43%
    Enterprise 30 Year USDA Refi 2024-07-18 6.83%
    Enterprise 30 Year VA 2024-07-18 6.07%
    Enterprise 30 Year VA Refi 2024-07-18 6.4%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Enterprise, AL.

    Enterprise 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 Enterprise, AL 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
    River Bank & Trust 23 7.30% $3,800
    QUICKEN LOANS, LLC 18 6.80% $5,981
    Mortgage Research Center, LLC 15 6.90% $2,816
    ENVOY MORTGAGE, LTD 12 6.83% $6,067
    UNITED WHOLESALE MORTGAGE, LLC 12 6.88% $5,608
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 6.82% $5,983
    MOVEMENT MORTGAGE, LLC 8 7.17% $4,367
    PENNYMAC LOAN SERVICES, LLC 7 6.66% $5,119
    Renasant Bank 6 6.75% $4,103
    BankPlus 6 6.94% $3,647
    JPMorgan Chase Bank 5 6.80% $1,147
    Five Star Credit Union 4 6.82% $5,073
    NAVY FEDERAL CREDIT UNION 4 7.22% $5,688
    MORTGAGE INVESTORS GROUP, INC. 4 6.74% $3,482
    INTERLINC MORTGAGE SERVICES, LLC 4 6.66% $4,869
    Assurance Financial Group, L.L.C. 4 7.00% $4,567
    VANDERBILT MORTGAGE AND FINANCE, INC. 3 8.41% $5,445
    USAA Federal Savings Bank 3 6.04% $6,106
    ALL IN 2 6.88% $1,585
    UNION HOME MORTGAGE CORP. 2 6.88% $5,637
    GUILD MORTGAGE COMPANY 2 6.25% $2,645
    Wells Fargo Bank 2 5.63% $2,499
    HOMESTAR FINANCIAL CORPORATION 2 6.13% $2,716
    Synovus Bank 2 7.69% $3,611
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.99% $4,383
    21ST MORTGAGE CORPORATION 2 8.35% $4,527
    Troy Bank and Trust Company 1 9.38% $2,721
    ACADEMY MORTGAGE CORPORATION 1 7.50% $8,287
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.63% $5,275
    Ameris Bank 1 6.88% $5,080
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.37% $0
    ATLANTA POSTAL 1 7.38% $4,255
    Bank of America 1 5.50% $2,915
    Bank of England 1 6.38% $4,969
    BARTLETT MORTGAGE, INC. 1 6.88% $3,168
    Capital City Home Loans, LLC 1 7.00% $9,871
    CMG MORTGAGE, INC. 1 7.25% $3,692
    EMBRACE HOME LOANS, INC. 1 7.38% $5,754
    FBC MORTGAGE, LLC 1 6.99% $12,604
    FREEDOM MORTGAGE CORPORATION 1 6.88% $5,397
    Ixonia Bank 1 6.63% $7,678
    LIBERTY HOME MORTGAGE CORPORATION 1 7.63% $4,739
    LOANDEPOT.COM, LLC 1 7.63% $5,401
    Mr. Cooper ( Nationstar Mortgage ) 1 6.49% $7,499
    Nations Lending Corporation 1 6.63% $0
    NEWREZ LLC 1 6.38% $3,019
    Regions Bank 1 7.00% $2,927
    Servion, Inc. 1 7.25% $2,686
    South State Bank 1 6.50% $2,894
    Tyndall Federal Credit Union 1 5.88% $2,337

    Enterprise Average Closing Costs & Other Stats

    Enterprise, AL's 50 lenders originated 1,207 loans during 2023. The total origination value was $246,225,000, with an average loan value of $203,998.

    Enterprise's average closing costs are $4,732.

    The top Enterprise lender as defined by loan originations is River Bank & Trust, with 23 loans originated. Their average total fees are $3,800, which is $2,181 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Enterprise lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($2,816), River Bank & Trust ($3,800), UNITED WHOLESALE MORTGAGE, LLC ($5,608), QUICKEN LOANS, LLC ($5,981) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,983).

    The lowest rate Enterprise lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.80%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.82%), ENVOY MORTGAGE, LTD (6.83%), UNITED WHOLESALE MORTGAGE, LLC (6.88%) and Mortgage Research Center, LLC (6.90%).

    Enterprise, AL 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
    Mortgage Research Center, LLC $56,695,000 $42,825,000 -24.5% 17.4%
    ENVOY MORTGAGE, LTD $23,050,000 $19,485,000 -15.5% 7.9%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $27,235,000 $13,935,000 -48.8% 5.7%
    MOVEMENT MORTGAGE, LLC $2,905,000 $13,680,000 370.9% 5.6%
    ALL IN $13,655,000 $13,250,000 -3.0% 5.4%
    River Bank & Trust $19,075,000 $13,095,000 -31.3% 5.3%
    NAVY FEDERAL CREDIT UNION $10,445,000 $10,200,000 -2.3% 4.1%
    QUICKEN LOANS, LLC $15,205,000 $9,580,000 -37.0% 3.9%
    UNITED WHOLESALE MORTGAGE, LLC $3,810,000 $8,915,000 134.0% 3.6%
    Renasant Bank $12,160,000 $7,100,000 -41.6% 2.9%
    PENNYMAC LOAN SERVICES, LLC $7,015,000 $5,735,000 -18.2% 2.3%
    BankPlus $4,745,000 $4,800,000 1.2% 1.9%
    USAA Federal Savings Bank $11,135,000 $4,375,000 -60.7% 1.8%
    GUARANTEED RATE, INC. $4,180,000 $3,470,000 -17.0% 1.4%
    Armed Forces Bank $2,310,000 $3,455,000 49.6% 1.4%
    HOMESTAR FINANCIAL CORPORATION $1,670,000 $3,200,000 91.6% 1.3%
    FREEDOM MORTGAGE CORPORATION $3,655,000 $2,770,000 -24.2% 1.1%
    21ST MORTGAGE CORPORATION $1,425,000 $2,720,000 90.9% 1.1%
    Troy Bank and Trust Company $6,470,000 $2,665,000 -58.8% 1.1%
    CROSSCOUNTRY MORTGAGE, LLC $655,000 $2,590,000 295.4% 1.1%
    Five Star Credit Union $1,375,000 $1,900,000 38.2% 0.8%
    The Citizens Bank $1,900,000 n/a 0.8%
    INTERLINC MORTGAGE SERVICES, LLC $4,115,000 $1,895,000 -53.9% 0.8%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $565,000 $1,455,000 157.5% 0.6%
    PENTAGON FEDERAL CREDIT UNION $2,045,000 $1,440,000 -29.6% 0.6%
    CMG MORTGAGE, INC. $740,000 $1,345,000 81.8% 0.5%
    LIBERTY HOME MORTGAGE CORPORATION $1,340,000 n/a 0.5%
    Flagstar Bank, FSB $545,000 $1,315,000 141.3% 0.5%
    LOANDEPOT.COM, LLC $3,600,000 $1,290,000 -64.2% 0.5%
    Synovus Bank $3,225,000 $1,280,000 -60.3% 0.5%
    VANDERBILT MORTGAGE AND FINANCE, INC. $660,000 $1,280,000 93.9% 0.5%
    Ameris Bank $1,130,000 $1,270,000 12.4% 0.5%
    Mr. Cooper ( Nationstar Mortgage ) $1,455,000 $1,270,000 -12.7% 0.5%
    GUILD MORTGAGE COMPANY $2,845,000 $1,260,000 -55.7% 0.5%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $1,225,000 n/a 0.5%
    MORTGAGE INVESTORS GROUP, INC. $1,615,000 $1,215,000 -24.8% 0.5%
    JPMorgan Chase Bank $565,000 $1,195,000 111.5% 0.5%
    Wells Fargo Bank $7,205,000 $1,160,000 -83.9% 0.5%
    The Samson Banking Company, Inc. $650,000 $1,110,000 70.8% 0.5%
    NEW DAY FINANCIAL, LLC $2,890,000 $1,020,000 -64.7% 0.4%
    UNION HOME MORTGAGE CORP. $1,770,000 $815,000 -54.0% 0.3%
    CCB Community Bank $1,650,000 $805,000 -51.2% 0.3%
    Tyndall Federal Credit Union $390,000 $770,000 97.4% 0.3%
    NBKC BANK $1,585,000 $750,000 -52.7% 0.3%
    NEWREZ LLC $925,000 $735,000 -20.5% 0.3%
    First Federal Bank $1,215,000 $730,000 -39.9% 0.3%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $800,000 $710,000 -11.3% 0.3%
    The Federal Savings Bank $1,110,000 $665,000 -40.1% 0.3%
    Regions Bank $2,690,000 $660,000 -75.5% 0.3%
    CREDIT HUMAN FEDERAL CREDIT UNION $430,000 $635,000 47.7% 0.3%
    Plains Commerce Bank $625,000 $625,000 0.0% 0.3%
    Trustmark National Bank $535,000 $590,000 10.3% 0.2%
    Assurance Financial Group, L.L.C. $195,000 $585,000 200.0% 0.2%
    BROKER SOLUTIONS, INC. $2,390,000 $580,000 -75.7% 0.2%
    Carrington Mortgage Services, LLC $1,515,000 $550,000 -63.7% 0.2%
    Capital City Home Loans, LLC $505,000 n/a 0.2%
    The First National Bank of Hartford $760,000 $485,000 -36.2% 0.2%
    HOMESPIRE MORTGAGE CORPORATION $475,000 n/a 0.2%
    FBC MORTGAGE, LLC $115,000 $465,000 304.3% 0.2%
    Paramount Residential Mortgage Group, Inc. $465,000 n/a 0.2%
    CHURCHILL MORTGAGE CORPORATION $260,000 $455,000 75.0% 0.2%
    LENDINGHOME FUNDING CORPORATION $455,000 n/a 0.2%
    First State Bank of St. Charles, Missouri $445,000 n/a 0.2%
    AVADIAN $320,000 $430,000 34.4% 0.2%
    APCO EMPLOYEES $420,000 n/a 0.2%
    Equity Prime Mortgage LLC $395,000 n/a 0.2%
    First South Farm Credit, ACA $395,000 n/a 0.2%
    ACADEMY MORTGAGE CORPORATION $385,000 n/a 0.2%
    Discover Bank $55,000 $385,000 600.0% 0.2%
    PNC Bank $815,000 $380,000 -53.4% 0.2%
    EMBRACE HOME LOANS, INC. $505,000 $375,000 -25.7% 0.2%
    PeoplesSouth Bank $410,000 $375,000 -8.5% 0.2%
    RESOURCE FINANCIAL SERVICES, INC. $375,000 n/a 0.2%
    Bank of America $365,000 n/a 0.1%
    Keystone Funding, Inc. $365,000 n/a 0.1%
    ZILLOW HOME LOANS, LLC $305,000 $360,000 18.0% 0.1%
    Nations Lending Corporation $6,515,000 $355,000 -94.6% 0.1%
    Northpointe Bank $1,590,000 $355,000 -77.7% 0.1%
    GARDNER FINANCIAL SERVICES, LTD. $345,000 n/a 0.1%
    University Bank $335,000 n/a 0.1%
    U.S. Bank $320,000 $335,000 4.7% 0.1%
    Magnolia Bank $325,000 n/a 0.1%
    TRIAD FINANCIAL SERVICES, INC. $840,000 $325,000 -61.3% 0.1%
    AMERISAVE MORTGAGE CORPORATION $1,715,000 $310,000 -81.9% 0.1%
    Figure Lending LLC $70,000 $300,000 328.6% 0.1%
    BARTLETT MORTGAGE, INC. $295,000 n/a 0.1%
    BNC National Bank $1,400,000 $295,000 -78.9% 0.1%
    LENDINGONE, LLC $165,000 $290,000 75.8% 0.1%
    City National Bank $260,000 n/a 0.1%
    FirstBank $580,000 $250,000 -56.9% 0.1%
    South State Bank $125,000 $250,000 100.0% 0.1%
    ACOPIA, LLC $245,000 n/a 0.1%
    Mid-Continent Funding, Inc. $355,000 $245,000 -31.0% 0.1%
    RELIANCE FIRST CAPITAL, LLC $185,000 $245,000 32.4% 0.1%
    Bank of Bartlett $230,000 n/a 0.1%
    CARDINAL FINANCIAL $430,000 $225,000 -47.7% 0.1%
    AMERICAN FINANCIAL NETWORK, INC. $215,000 n/a 0.1%
    First United Bank and Trust Company $215,000 n/a 0.1%
    DOMINION FINANCIAL SERVICES, LLC $200,000 n/a 0.1%
    First Savings Bank $195,000 n/a 0.1%
    Ixonia Bank $515,000 $195,000 -62.1% 0.1%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $360,000 $185,000 -48.6% 0.1%
    FAIRWINDS CREDIT UNION $175,000 n/a 0.1%
    M&T Bank $175,000 n/a 0.1%
    STOCKTON MORTGAGE CORPORATION $175,000 n/a 0.1%
    PLANET HOME LENDING, LLC $165,000 n/a 0.1%
    SPRING EQ, LLC $155,000 $165,000 6.5% 0.1%
    VILLAGE CAPITAL MORTGAGE $1,255,000 $165,000 -86.9% 0.1%
    ALAMEDA MORTGAGE CORPORATION $155,000 n/a 0.1%
    Servion, Inc. $155,000 n/a 0.1%
    SOUTHWEST STAGE FUNDING, LLC $550,000 $155,000 -71.8% 0.1%
    AMERICAN FINANCIAL RESOURCES, INC. $150,000 n/a 0.1%
    PHH Mortgage Corporation $115,000 $135,000 17.4% 0.1%
    Stifel Bank and Trust $135,000 n/a 0.1%
    Citizens Bank $250,000 $130,000 -48.0% 0.1%
    LIMA ONE CAPITAL, LLC $125,000 n/a 0.1%
    MILEND, INC. $125,000 n/a 0.1%
    Secured Investment Corp. $105,000 $125,000 19.0% 0.1%
    SILVER HILL FUNDING, LLC $125,000 n/a 0.1%
    AMWEST FUNDING CORP. $115,000 n/a 0.0%
    AUBURN UNIVERSITY CREDIT UNION $115,000 n/a 0.0%
    Alcova Mortgage LLC $105,000 n/a 0.0%
    Bank of England $745,000 $105,000 -85.9% 0.0%
    DEEPHAVEN MORTGAGE LLC $105,000 n/a 0.0%
    TOP FLITE FINANCIAL, INC. $85,000 n/a 0.0%
    BAYSHORE MORTGAGE FUNDING, LLC $75,000 n/a 0.0%
    Coastal Community Bank $75,000 n/a 0.0%
    ATLANTA POSTAL $65,000 n/a 0.0%
    MUTUAL OF OMAHA MORTGAGE, INC. $510,000 $55,000 -89.2% 0.0%
    Service Federal Credit Union $55,000 n/a 0.0%
    BancorpSouth $195,000 $45,000 -76.9% 0.0%
    Pen Air Federal Credit Union $45,000 n/a 0.0%

    Enterprise's top lender by overall market share is Mortgage Research Center, LLC, with 17.4% market share. In second place, with 7.9%, is ENVOY MORTGAGE, LTD, having originated $19,485,000 in loans. In third place, with 5.7%, is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, having originated $13,935,000 in loans. In fourth place, with 5.6%, is MOVEMENT MORTGAGE, LLC, having originated $13,680,000 in loans. In fifth place, with 5.4%, is ALL IN, having originated $13,250,000 in loans.

    Enterprise, AL Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 825 $198,835,000 $241,012
    Other 120 $8,180,000 $68,167
    Cash Out Refi 108 $20,460,000 $189,444
    Home Improvement 89 $6,125,000 $68,820
    Refi 65 $12,625,000 $194,231

    Enterprise's most frequently cited loan purpose was Home Purchase, with 825 originations. The 2nd most popular reason was Other, with 120 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 434 $107,630,000 $247,995
    Over 8% 266 $25,030,000 $94,098
    7-8% 266 $52,400,000 $196,992
    5-6% 182 $50,180,000 $275,714
    4-5% 19 $5,005,000 $263,421
    <2.5% 8 $1,100,000 $137,500
    3-4% 8 $1,080,000 $135,000
    2.5-3% 4 $1,170,000 $292,500

    During 2023, Enterprise's most frequently originated rate bucket was 6-7%, with 434 originations.

    Loan Sizing (Enterprise, AL MSA)

    Loan Size Originations Total Value Average Loan
    $200k-400k 410 $116,760,000 $284,780
    $100k-200k 357 $52,055,000 $145,812
    $100,000 or less 327 $19,635,000 $60,046
    $400k-600k 98 $45,400,000 $463,265
    $600k-1000k 12 $8,090,000 $674,167
    $Over $1MM 3 $4,285,000 $1,428,333

    Enterprise's loan sizing saw the bucket of loans from $200k-400k with 410 originations, totaling $116,760,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 622 $158,450,000 $254,743
    60-80% 185 $33,335,000 $180,189
    20-40% 113 $8,845,000 $78,274
    Under 20% 107 $4,555,000 $42,570
    Over 100% 82 $25,770,000 $314,268
    40-60% 69 $10,895,000 $157,899

    Enterprise's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 622 originations, totaling $158,450,000 in origination value.