Eufaula Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Eufaula averaged
7.3%
for the week of 2024-04-18, compared to the national average of
7.1% for the same period.
The average rate for the prior week (2024-04-11) was
6.88% and
one month ago for the week of 2024-03-14, the
average rate was 6.64%.
Eufaula's average rate one year ago was 6.17%.
For refis of the same type during the week of 2024-04-18, the average rate
was 7.4%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-04-18 | 7.1% |
| Eufaula 30 Year Fixed Rate | 2024-04-18 | 7.3% |
| Eufaula 30 Year Fixed Rate Refi | 2024-04-18 | 7.4% |
| Eufaula 15 Year Fixed Rate | 2024-04-18 | 6.39% |
| Eufaula 15 Year Fixed Rate Refi | 2024-04-18 | 6.99% |
| Eufaula 30 Year FHA | 2024-04-18 | 6.86% |
| Eufaula 30 Year FHA Refi | 2024-04-18 | 7.16% |
| Eufaula 30 Year USDA | 2024-04-18 | 6.76% |
| Eufaula 30 Year USDA Refi | 2024-04-18 | 6.96% |
| Eufaula 30 Year VA | 2024-04-18 | 6.86% |
| Eufaula 30 Year VA Refi | 2024-04-18 | 6.86% |
Eufaula 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 Eufaula, AL-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.).
Eufaula Average Closing Costs & Other Stats
Eufaula, AL-GA's 31 lenders originated 249
loans during 2023. The total origination value was $33,655,000, with an average loan value of
$135,161.
Eufaula's average closing costs are $4,683.
The top Eufaula lender as defined by loan originations is Five Star Credit Union, with
10 loans originated. Their average total fees are
$3,645, which is $1,250
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Eufaula lenders (with over 10 loans originated) are
Five Star Credit Union ($3,645), .
The lowest rate Eufaula lenders (with over 10 loans originated) are
Five Star Credit Union (6.79%), .
Eufaula, AL-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 |
|---|---|---|---|---|
| Five Star Credit Union | $1,685,000 | $2,890,000 | 71.5% | 8.6% |
| QUICKEN LOANS, LLC | $4,915,000 | $2,555,000 | -48.0% | 7.6% |
| 21ST MORTGAGE CORPORATION | $695,000 | $1,855,000 | 166.9% | 5.5% |
| Mortgage Research Center, LLC | $1,560,000 | $1,715,000 | 9.9% | 5.1% |
| PeoplesSouth Bank | $1,920,000 | $1,655,000 | -13.8% | 4.9% |
| Renasant Bank | $3,215,000 | $1,515,000 | -52.9% | 4.5% |
| Trustmark National Bank | $1,680,000 | $1,135,000 | -32.4% | 3.4% |
| INTERLINC MORTGAGE SERVICES, LLC | $700,000 | $1,070,000 | 52.9% | 3.2% |
| PNC Bank | $2,785,000 | $965,000 | -65.4% | 2.9% |
| CROSSCOUNTRY MORTGAGE, LLC | $705,000 | $910,000 | 29.1% | 2.7% |
| UNITED WHOLESALE MORTGAGE, LLC | $535,000 | $895,000 | 67.3% | 2.7% |
| NAVY FEDERAL CREDIT UNION | $185,000 | $850,000 | 359.5% | 2.5% |
| Troy Bank and Trust Company | $460,000 | $800,000 | 73.9% | 2.4% |
| Bank of England | $285,000 | $790,000 | 177.2% | 2.3% |
| Regions Bank | $930,000 | $720,000 | -22.6% | 2.1% |
| Assurance Financial Group, L.L.C. | $585,000 | n/a | 1.7% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $380,000 | $585,000 | 53.9% | 1.7% |
| First State Bank of Blakely, Inc. | $55,000 | $570,000 | 936.4% | 1.7% |
| MORTGAGE INVESTORS GROUP, INC. | $335,000 | $550,000 | 64.2% | 1.6% |
| LOANDEPOT.COM, LLC | $1,590,000 | $520,000 | -67.3% | 1.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,240,000 | $515,000 | -58.5% | 1.5% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $690,000 | $475,000 | -31.2% | 1.4% |
| CANOPY MORTGAGE, LLC | $430,000 | n/a | 1.3% | |
| CARDINAL FINANCIAL | $220,000 | $410,000 | 86.4% | 1.2% |
| CMG MORTGAGE, INC. | $95,000 | $395,000 | 315.8% | 1.2% |
| PENNYMAC LOAN SERVICES, LLC | $75,000 | $385,000 | 413.3% | 1.1% |
| FREEDOM MORTGAGE CORPORATION | $215,000 | $365,000 | 69.8% | 1.1% |
| SWBC MORTGAGE CORPORATION | $45,000 | $365,000 | 711.1% | 1.1% |
| HNB First Bank | $360,000 | n/a | 1.1% | |
| Ameris Bank | $1,290,000 | $355,000 | -72.5% | 1.1% |
| UNION HOME MORTGAGE CORP. | $85,000 | $330,000 | 288.2% | 1.0% |
| RELIANCE FIRST CAPITAL, LLC | $115,000 | $325,000 | 182.6% | 1.0% |
| JPMorgan Chase Bank | $190,000 | $310,000 | 63.2% | 0.9% |
| Discover Bank | $130,000 | $260,000 | 100.0% | 0.8% |
| Barrington Bank & Trust Company, N.A. | $235,000 | $215,000 | -8.5% | 0.6% |
| GERSHMAN INVESTMENT CORP. | $215,000 | n/a | 0.6% | |
| AMERISAVE MORTGAGE CORPORATION | $125,000 | $210,000 | 68.0% | 0.6% |
| Guardian Credit Union | $210,000 | n/a | 0.6% | |
| Mr. Cooper ( Nationstar Mortgage ) | $705,000 | $205,000 | -70.9% | 0.6% |
| PREMIA MORTGAGE, LLC | $345,000 | $205,000 | -40.6% | 0.6% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $295,000 | $195,000 | -33.9% | 0.6% |
| First South Farm Credit, ACA | $115,000 | $195,000 | 69.6% | 0.6% |
| Consumer First Mortgage, Inc. | $185,000 | n/a | 0.5% | |
| Georgia Community Bank | $185,000 | n/a | 0.5% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $155,000 | $185,000 | 19.4% | 0.5% |
| USAA Federal Savings Bank | $165,000 | n/a | 0.5% | |
| ZILLOW HOME LOANS, LLC | $165,000 | n/a | 0.5% | |
| Truist | $75,000 | $160,000 | 113.3% | 0.5% |
| ALL IN | $390,000 | $155,000 | -60.3% | 0.5% |
| OPEN MORTGAGE, LLC | $145,000 | n/a | 0.4% | |
| CSL Financial, LLC | $125,000 | n/a | 0.4% | |
| BancorpSouth | $120,000 | n/a | 0.4% | |
| Arvest Bank | $355,000 | $115,000 | -67.6% | 0.3% |
| Citizens Bank | $105,000 | n/a | 0.3% | |
| PLAZA HOME MORTGAGE, INC. | $105,000 | n/a | 0.3% | |
| The Citizens Bank | $105,000 | n/a | 0.3% | |
| V.I.P. MORTGAGE, INC. | $105,000 | n/a | 0.3% | |
| MOVEMENT MORTGAGE, LLC | $95,000 | n/a | 0.3% | |
| TOP FLITE FINANCIAL, INC. | $85,000 | n/a | 0.3% | |
| SmartBank | $75,000 | n/a | 0.2% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $105,000 | $65,000 | -38.1% | 0.2% |
| River Bank & Trust | $300,000 | $65,000 | -78.3% | 0.2% |
| Synovus Bank | $495,000 | $65,000 | -86.9% | 0.2% |
| First Federal Bank | $55,000 | n/a | 0.2% | |
| ServisFirst Bank | $55,000 | n/a | 0.2% | |
| SPRING EQ, LLC | $55,000 | n/a | 0.2% | |
| UTILITIES EMPLOYEES CREDIT UNION | $55,000 | n/a | 0.2% | |
| APCO EMPLOYEES | $225,000 | $25,000 | -88.9% | 0.1% |
| MidSouth Bank | $25,000 | n/a | 0.1% | |
| PrimeSouth Bank | $25,000 | n/a | 0.1% | |
| The Samson Banking Company, Inc. | $25,000 | n/a | 0.1% | |
| AVADIAN | $15,000 | n/a | 0.0% | |
| FirstBank | $855,000 | $15,000 | -98.2% | 0.0% |
Eufaula's top lender by overall market share is Five Star Credit Union, with 8.6% market share. In second place, with 7.6%, is QUICKEN LOANS, LLC, having originated $2,555,000 in loans. In third place, with 5.5%, is 21ST MORTGAGE CORPORATION, having originated $1,855,000 in loans. In fourth place, with 5.1%, is Mortgage Research Center, LLC, having originated $1,715,000 in loans. In fifth place, with 4.9%, is PeoplesSouth Bank, having originated $1,655,000 in loans.
Eufaula, AL-GA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 140 | $20,530,000 | $146,643 |
| Refi | 34 | $4,780,000 | $140,588 |
| Cash Out Refi | 31 | $4,105,000 | $132,419 |
| Other | 28 | $2,570,000 | $91,786 |
| Home Improvement | 16 | $1,670,000 | $104,375 |
Eufaula's most frequently cited loan purpose was Home Purchase, with 140 originations. The 2nd most popular reason was Refi, with 34 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 80 | $7,740,000 | $96,750 |
| 6-7% | 72 | $12,420,000 | $172,500 |
| 7-8% | 54 | $6,970,000 | $129,074 |
| 5-6% | 22 | $3,830,000 | $174,091 |
| <2.5% | 2 | $550,000 | $275,000 |
| 2.5-3% | 2 | $60,000 | $30,000 |
| 4-5% | 1 | $215,000 | $215,000 |
| 3-4% | 1 | $125,000 | $125,000 |
During 2023, Eufaula's most frequently originated rate bucket was Over 8%, with 80 originations.
Loan Sizing (Eufaula, AL-GA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 114 | $6,620,000 | $58,070 |
| $100k-200k | 86 | $12,500,000 | $145,349 |
| $200k-400k | 41 | $10,515,000 | $256,463 |
| $400k-600k | 7 | $3,345,000 | $477,857 |
| $600k-1000k | 1 | $675,000 | $675,000 |
Eufaula's loan sizing saw the bucket of loans from $100,000 or less with 114 originations, totaling $6,620,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 125 | $20,385,000 | $163,080 |
| 60-80% | 39 | $5,195,000 | $133,205 |
| 20-40% | 26 | $1,420,000 | $54,615 |
| 40-60% | 23 | $2,935,000 | $127,609 |
| Under 20% | 15 | $845,000 | $56,333 |
| Over 100% | 4 | $1,000,000 | $250,000 |
Eufaula's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 125 originations, totaling $20,385,000 in origination value.