Fairmont Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Fairmont averaged
6.82%
for the week of 2023-03-16, compared to the national average of
6.6% for the same period.
The average rate for the prior week (2023-03-09) was
6.75% and
one month ago for the week of 2023-02-09, the
average rate was 6.54%.
Fairmont's average rate one year ago was 4.07%.
For refis of the same type during the week of 2023-03-16, the average rate
was 6.75%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-03-16 | 6.6% |
Fairmont 30 Year Fixed Rate | 2023-03-16 | 6.82% |
Fairmont 30 Year Fixed Rate Refi | 2023-03-16 | 6.75% |
Fairmont 15 Year Fixed Rate | 2023-03-16 | 6.56% |
Fairmont 15 Year Fixed Rate Refi | 2023-03-16 | 6.09% |
Fairmont 30 Year FHA | 2023-03-16 | 6.74% |
Fairmont 30 Year FHA Refi | 2023-03-16 | 6.19% |
Fairmont 30 Year USDA | 2023-03-16 | 6.74% |
Fairmont 30 Year USDA Refi | 2023-03-16 | 5.59% |
Fairmont 30 Year VA | 2023-03-16 | 6.2% |
Fairmont 30 Year VA Refi | 2023-03-16 | 6.28% |
Fairmont 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 Fairmont, WV 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.).
Fairmont Average Closing Costs & Other Stats
Fairmont, WV's 61 lenders originated 1,627
loans during 2021. The total origination value was $264,365,000, with an average loan value of
$162,486.
Fairmont's average closing costs are $4,274.
The top Fairmont lender as defined by loan originations is INTERCOASTAL MORTGAGE COMPANY, with
80 loans originated. Their average total fees are
$3,140, which is $595
higher than the next largest lender,
FAIRMONT.
The lowest fee Fairmont lenders (with over 10 loans originated) are
City National Bank of West Virginia ($1,892), FAIRMONT ($2,545), INTERCOASTAL MORTGAGE COMPANY ($3,140), U.S. Bank ($3,325) and Truist ($3,390).
The lowest rate Fairmont lenders (with over 10 loans originated) are
FAIRMONT (2.60%), Clear Mountain Bank (2.89%), AMERISAVE MORTGAGE CORPORATION (2.95%), Truist (3.01%) and INTERCOASTAL MORTGAGE COMPANY (3.03%).
Fairmont, WV 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 | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
---|---|---|---|---|
QUICKEN LOANS, LLC | $16,800,000 | $26,795,000 | 59.5% | 10.1% |
INTERCOASTAL MORTGAGE COMPANY | $11,575,000 | $24,325,000 | 110.2% | 9.2% |
The Huntington National Bank | $19,475,000 | $21,820,000 | 12.0% | 8.3% |
FAIRMONT | $23,265,000 | $21,255,000 | -8.6% | 8.0% |
First Federal Bank of the Midwest | $16,870,000 | $17,410,000 | 3.2% | 6.6% |
First Exchange Bank | $13,525,000 | $12,570,000 | -7.1% | 4.8% |
LOANDEPOT.COM, LLC | $2,620,000 | $11,665,000 | 345.2% | 4.4% |
Truist Bank | $7,415,000 | $9,935,000 | 34.0% | 3.8% |
Clear Mountain Bank | $14,755,000 | $8,980,000 | -39.1% | 3.4% |
WesBanco Bank, Inc. | $13,965,000 | $8,585,000 | -38.5% | 3.2% |
Sierra Pacific Mortgage Company, Inc. | $5,395,000 | $7,385,000 | 36.9% | 2.8% |
First Federal Savings and Loan Association of Greene Co | $5,495,000 | $6,020,000 | 9.6% | 2.3% |
FREEDOM MORTGAGE CORPORATION | $3,515,000 | $5,800,000 | 65.0% | 2.2% |
Mortgage Research Center, LLC | $3,510,000 | $5,555,000 | 58.3% | 2.1% |
HOME POINT FINANCIAL CORPORATION | $5,175,000 | $5,045,000 | -2.5% | 1.9% |
City National Bank of West Virginia | $6,880,000 | $4,685,000 | -31.9% | 1.8% |
Summit Community Bank, Inc. | $585,000 | $3,735,000 | 538.5% | 1.4% |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $2,045,000 | $3,330,000 | 62.8% | 1.3% |
AMERISAVE MORTGAGE CORPORATION | $1,265,000 | $3,285,000 | 159.7% | 1.2% |
MOVEMENT MORTGAGE, LLC | $4,670,000 | $2,745,000 | -41.2% | 1.0% |
PNC Bank | $1,285,000 | $2,580,000 | 100.8% | 1.0% |
Flagstar Bank, FSB | $845,000 | $2,455,000 | 190.5% | 0.9% |
U.S. Bank | $610,000 | $2,305,000 | 277.9% | 0.9% |
The Grant County Bank | $2,300,000 | n/a | 0.9% | |
JPMorgan Chase Bank | $1,450,000 | $2,185,000 | 50.7% | 0.8% |
USAA Federal Savings Bank | $1,735,000 | $2,100,000 | 21.0% | 0.8% |
UNION HOME MORTGAGE CORP. | $1,610,000 | $1,950,000 | 21.1% | 0.7% |
NAVY FEDERAL CREDIT UNION | $1,330,000 | $1,820,000 | 36.8% | 0.7% |
JUSTICE Federal Credit Union | $320,000 | $1,730,000 | 440.6% | 0.7% |
Wells Fargo Bank | $790,000 | $1,680,000 | 112.7% | 0.6% |
The Federal Savings Bank | $1,460,000 | $1,605,000 | 9.9% | 0.6% |
CALIBER HOME LOANS, INC. | $145,000 | $1,480,000 | 920.7% | 0.6% |
BETTER MORTGAGE CORPORATION | $175,000 | $1,425,000 | 714.3% | 0.5% |
UNITED WHOLESALE MORTGAGE, LLC | $1,085,000 | $1,365,000 | 25.8% | 0.5% |
PENNYMAC LOAN SERVICES, LLC | $730,000 | $1,290,000 | 76.7% | 0.5% |
VILLAGE CAPITAL & INVESTMENT LLC | $225,000 | $1,160,000 | 415.6% | 0.4% |
Renasant Bank | $285,000 | $1,130,000 | 296.5% | 0.4% |
First United Corporation | $3,755,000 | $1,040,000 | -72.3% | 0.4% |
BROKER SOLUTIONS, INC. | $1,035,000 | $995,000 | -3.9% | 0.4% |
Low VA Rates, LLC | $400,000 | $920,000 | 130.0% | 0.3% |
Premier Bank, Inc. | $1,280,000 | $880,000 | -31.3% | 0.3% |
LAKEVIEW LOAN SERVICING, LLC | $480,000 | $580,000 | 20.8% | 0.2% |
AMERICAN FINANCIAL NETWORK, INC. | $575,000 | n/a | 0.2% | |
PLANET HOME LENDING, LLC | $530,000 | $575,000 | 8.5% | 0.2% |
United Bank | $945,000 | $545,000 | -42.3% | 0.2% |
CROSSCOUNTRY MORTGAGE, LLC | $620,000 | $535,000 | -13.7% | 0.2% |
Fifth Third Bank | $255,000 | $525,000 | 105.9% | 0.2% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $835,000 | $520,000 | -37.7% | 0.2% |
NBKC BANK | $390,000 | $490,000 | 25.6% | 0.2% |
Farm Credit of the Virginias, ACA | $195,000 | $460,000 | 135.9% | 0.2% |
Peoples Bank | $435,000 | n/a | 0.2% | |
CHESSIE | $65,000 | $430,000 | 561.5% | 0.2% |
Barrington Bank & Trust Company, N.A. | $310,000 | $420,000 | 35.5% | 0.2% |
North American Savings Bank, F.S.B. | $275,000 | $420,000 | 52.7% | 0.2% |
Wyndham Capital Mortgage, Inc. | $400,000 | n/a | 0.2% | |
Carrington Mortgage Services, LLC | $525,000 | $375,000 | -28.6% | 0.1% |
FINANCE OF AMERICA MORTGAGE LLC | $375,000 | n/a | 0.1% | |
Northwest Federal Credit Union | $375,000 | n/a | 0.1% | |
PENTAGON FEDERAL CREDIT UNION | $365,000 | n/a | 0.1% | |
Gateway First Bank | $415,000 | $360,000 | -13.3% | 0.1% |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $115,000 | $355,000 | 208.7% | 0.1% |
Strong Home Mortgage, LLC | $350,000 | n/a | 0.1% | |
Chicago Mortgage Solutions LLC | $340,000 | n/a | 0.1% | |
First Community Bank | $460,000 | $340,000 | -26.1% | 0.1% |
SOUTHWEST STAGE FUNDING, LLC | $340,000 | n/a | 0.1% | |
LIBERTY HOME MORTGAGE CORPORATION | $320,000 | n/a | 0.1% | |
Bank of America | $280,000 | n/a | 0.1% | |
CHURCHILL MORTGAGE CORPORATION | $95,000 | $270,000 | 184.2% | 0.1% |
Clay County Bank, Inc. | $270,000 | n/a | 0.1% | |
George Mason Mortgage, LLC | $195,000 | $265,000 | 35.9% | 0.1% |
First Home Bank | $260,000 | n/a | 0.1% | |
FirstBank | $255,000 | n/a | 0.1% | |
HOMEBRIDGE FINANCIAL SERVICES, INC. | $665,000 | $255,000 | -61.7% | 0.1% |
NFM, INC. | $255,000 | n/a | 0.1% | |
First Federal Bank | $245,000 | n/a | 0.1% | |
AMERICAN INTERNET MORTGAGE, INC. | $225,000 | $235,000 | 4.4% | 0.1% |
Colonial Savings, F.A. | $235,000 | n/a | 0.1% | |
21ST MORTGAGE CORPORATION | $195,000 | $230,000 | 17.9% | 0.1% |
HOMESPIRE MORTGAGE CORPORATION | $230,000 | n/a | 0.1% | |
Mr. Cooper ( Nationstar Mortgage ) | $1,220,000 | $230,000 | -81.1% | 0.1% |
PHH Mortgage Corporation | $225,000 | n/a | 0.1% | |
GUARANTEED RATE AFFINITY, LLC | $215,000 | n/a | 0.1% | |
NEWREZ LLC | $180,000 | $215,000 | 19.4% | 0.1% |
Ameris Bank | $205,000 | n/a | 0.1% | |
BAYER HERITAGE | $175,000 | $205,000 | 17.1% | 0.1% |
CRESCENT MORTGAGE COMPANY | $205,000 | n/a | 0.1% | |
The United Federal Credit Union | $765,000 | $200,000 | -73.9% | 0.1% |
AMERICAN FINANCING CORPORATION | $165,000 | $195,000 | 18.2% | 0.1% |
Integrity Home Mortgage Corp | $175,000 | n/a | 0.1% | |
Magnolia Bank | $280,000 | $175,000 | -37.5% | 0.1% |
SUN WEST MORTGAGE COMPANY, INC. | $175,000 | n/a | 0.1% | |
Bank of England | $855,000 | $165,000 | -80.7% | 0.1% |
Blue Ridge Bank | $165,000 | n/a | 0.1% | |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $235,000 | $165,000 | -29.8% | 0.1% |
TOWER | $165,000 | n/a | 0.1% | |
Nations Lending Corporation | $125,000 | $155,000 | 24.0% | 0.1% |
Citizens Bank | $145,000 | n/a | 0.1% | |
Colten Mortgage, LLC | $145,000 | n/a | 0.1% | |
LENDERFI, INC. | $145,000 | n/a | 0.1% | |
Capon Valley Bank | $135,000 | n/a | 0.1% | |
GUARANTEED RATE, INC. | $225,000 | $125,000 | -44.4% | 0.0% |
Meridian Bank Corporation | $295,000 | $125,000 | -57.6% | 0.0% |
WRIGHT-PATT CREDIT UNION, INC. | $125,000 | n/a | 0.0% | |
Ally Bank | $405,000 | $115,000 | -71.6% | 0.0% |
Ixonia Bank | $115,000 | n/a | 0.0% | |
POLARIS HOME FUNDING CORP. | $115,000 | n/a | 0.0% | |
AMERICAN ADVISORS GROUP | $165,000 | $105,000 | -36.4% | 0.0% |
First Guaranty Mortgage Corporation | $95,000 | n/a | 0.0% | |
Clearview Federal Credit Union | $55,000 | n/a | 0.0% | |
Baxter Credit Union | $45,000 | n/a | 0.0% | |
Discover Bank | $300,000 | $45,000 | -85.0% | 0.0% |
Alcova Mortgage LLC | $35,000 | n/a | 0.0% | |
Centier Bank | $25,000 | n/a | 0.0% | |
Home Loan Investment Bank, F.S.B. | $25,000 | $25,000 | 0.0% | 0.0% |
Fairmont's top lender by overall market share is QUICKEN LOANS, LLC, with 10.1% market share. In second place, with 9.2%, is INTERCOASTAL MORTGAGE COMPANY, having originated $24,325,000 in loans. In third place, with 8.3%, is The Huntington National Bank, having originated $21,820,000 in loans. In fourth place, with 8.0%, is FAIRMONT, having originated $21,255,000 in loans. In fifth place, with 6.6%, is First Federal Bank of the Midwest, having originated $17,410,000 in loans.
Fairmont Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Fairmont (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $132,700 (2.1%) | $151,970 (2.4%) | 0.00 | 216 |
2018-02-01 | $137,575 (7.7%) | $158,629 (8.5%) | 0.00 | 174 |
2018-03-01 | $146,350 (9.3%) | $161,217 (8.8%) | 0.00 | 156 |
2018-04-01 | $149,950 (10.8%) | $161,950 (9.3%) | 0.00 | 149 |
2018-05-01 | $158,000 (12.9%) | $166,595 (7.4%) | 0.00 | 159 |
2018-06-01 | $152,475 (4.3%) | $166,298 (4.0%) | 0.00 | 190 |
2018-07-01 | $152,400 (4.6%) | $168,380 (4.2%) | 0.00 | 188 |
2018-08-01 | $141,625 (0.9%) | $159,889 (0.9%) | 0.00 | 189 |
2018-09-01 | $133,000 (-4.9%) | $152,439 (-3.2%) | 0.00 | 200 |
2018-10-01 | $127,250 (-8.2%) | $146,198 (-5.5%) | 0.00 | 198 |
2018-11-01 | $129,200 (-7.7%) | $144,738 (-8.2%) | 0.00 | 195 |
2018-12-01 | $129,500 (-5.8%) | $146,926 (-6.4%) | 0.00 | 192 |
2019-01-01 | $142,900 (7.7%) | $155,247 (2.2%) | 0.00 | 167 |
2019-02-01 | $146,150 (6.2%) | $161,775 (2.0%) | 0.00 | 159 |
2019-03-01 | $139,900 (-4.4%) | $161,676 (0.3%) | 0.00 | 154 |
2019-04-01 | $143,450 (-4.3%) | $167,489 (3.4%) | 0.00 | 149 |
2019-05-01 | $151,950 (-3.8%) | $174,118 (4.5%) | 0.00 | 141 |
2019-06-01 | $149,000 (-2.3%) | $166,961 (0.4%) | 0.00 | 149 |
2019-07-01 | $148,000 (-2.9%) | $166,439 (-1.2%) | 0.00 | 165 |
2019-08-01 | $145,064 (2.4%) | $166,986 (4.4%) | 0.00 | 162 |
2019-09-01 | $142,159 (6.9%) | $166,958 (9.5%) | 0.00 | 159 |
2019-10-01 | $139,900 (9.9%) | $166,939 (14.2%) | 0.00 | 158 |
2019-11-01 | $132,500 (2.6%) | $156,626 (8.2%) | 0.00 | 161 |
2019-12-01 | $137,500 (6.2%) | $159,860 (8.8%) | 0.00 | 157 |
2020-01-01 | $127,250 (-11.0%) | $155,856 (0.4%) | 0.00 | 136 |
2020-02-01 | $126,000 (-13.8%) | $163,033 (0.8%) | 0.00 | 134 |
2020-03-01 | $129,925 (-7.1%) | $163,618 (1.2%) | 0.00 | 122 |
2020-04-01 | $129,250 (-9.9%) | $168,801 (0.8%) | 0.00 | 123 |
2020-05-01 | $141,700 (-6.8%) | $179,663 (3.2%) | 0.00 | 119 |
2020-06-01 | $137,225 (-7.9%) | $173,455 (3.9%) | 0.00 | 127 |
2020-07-01 | $147,200 (-0.5%) | $174,807 (5.0%) | 0.00 | 128 |
2020-08-01 | $145,000 (0.0%) | $179,803 (7.7%) | 0.00 | 113 |
2020-09-01 | $139,225 (-2.1%) | $169,682 (1.6%) | 0.00 | 118 |
2020-10-01 | $139,900 (0.0%) | $168,757 (1.1%) | 0.00 | 127 |
2020-11-01 | $140,950 (6.4%) | $166,829 (6.5%) | 0.00 | 123 |
2020-12-01 | $139,900 (1.8%) | $164,367 (2.8%) | 0.00 | 112 |
2021-01-01 | $139,900 (9.9%) | $165,041 (5.9%) | 0.00 | 104 |
2021-02-01 | $126,900 (0.7%) | $154,088 (-5.5%) | 0.00 | 85 |
2021-03-01 | $138,400 (6.5%) | $155,784 (-4.8%) | 0.00 | 78 |
2021-04-01 | $150,000 (16.1%) | $168,459 (-0.2%) | 0.00 | 70 |
2021-05-01 | $154,000 (8.7%) | $166,991 (-7.1%) | 0.00 | 84 |
2021-06-01 | $155,175 (13.1%) | $176,312 (1.7%) | 0.00 | 90 |
2021-07-01 | $172,450 (17.2%) | $170,722 (-2.3%) | 0.00 | 86 |
2021-08-01 | $169,900 (17.2%) | $175,304 (-2.5%) | 0.00 | 97 |
2021-09-01 | $169,725 (21.9%) | $177,807 (4.8%) | 0.00 | 101 |
2021-10-01 | $174,900 (25.0%) | $179,882 (6.6%) | 0.00 | 96 |
2021-11-01 | $152,775 (8.4%) | $165,179 (-1.0%) | 0.00 | 100 |
2021-12-01 | $148,075 (5.8%) | $165,394 (0.6%) | 0.00 | 93 |
2022-01-01 | $154,900 (10.7%) | $168,770 (2.3%) | 0.00 | 70 |
2022-02-01 | $156,875 (23.6%) | $183,913 (19.4%) | 0.00 | 64 |
2022-03-01 | $163,250 (18.0%) | $191,405 (22.9%) | 0.00 | 68 |
2022-04-01 | $147,000 (-2.0%) | $194,087 (15.2%) | 0.00 | 68 |
2022-05-01 | $149,925 (-2.7%) | $191,557 (14.7%) | 0.00 | 74 |
2022-06-01 | $157,450 (1.5%) | $198,104 (12.4%) | 0.00 | 86 |
2022-07-01 | $159,900 (-7.3%) | $199,471 (16.8%) | 0.00 | 104 |
2022-08-01 | $168,000 (-1.1%) | $196,727 (12.2%) | 0.00 | 110 |
2022-09-01 | $165,200 (-2.7%) | $187,472 (5.4%) | 0.00 | 117 |
2022-10-01 | $154,900 (-11.4%) | $182,263 (1.3%) | 0.00 | 119 |
2022-11-01 | $168,325 (10.2%) | $188,081 (13.9%) | 0.00 | 119 |
2022-12-01 | $159,800 (7.9%) | $187,693 (13.5%) | 0.00 | 111 |
2023-01-01 | $143,175 (-7.6%) | $194,716 (15.4%) | 0.00 | 101 |
2023-02-01 | $141,150 (-10.0%) | $189,154 (2.9%) | 0.00 | 88 |
Fairmont's median listing price comes in at 0% of the national average.
Fairmont's average listing price for 2023-02-01 was $189,154, a difference of $5,241 (2.9%) versus the prior year and $-5,562 versus the prior month.
For the 2023-02-01 period, Fairmont had 88 MLS listings, a difference of -13 listings (-13%) versus the prior month and 24 listings (38%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Fairmont (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,611 sqft |
2018-02-01 | 0 days | 1,630 sqft |
2018-03-01 | 0 days | 1,615 sqft |
2018-04-01 | 0 days | 1,595 sqft |
2018-05-01 | 0 days | 1,632 sqft |
2018-06-01 | 0 days | 1,625 sqft |
2018-07-01 | 0 days | 1,626 sqft |
2018-08-01 | 0 days | 1,620 sqft |
2018-09-01 | 0 days | 1,604 sqft |
2018-10-01 | 0 days | 1,619 sqft |
2018-11-01 | 0 days | 1,620 sqft |
2018-12-01 | 0 days | 1,620 sqft |
2019-01-01 | 0 days | 1,637 sqft |
2019-02-01 | 0 days | 1,645 sqft |
2019-03-01 | 0 days | 1,645 sqft |
2019-04-01 | 0 days | 1,667 sqft |
2019-05-01 | 0 days | 1,705 sqft |
2019-06-01 | 0 days | 1,700 sqft |
2019-07-01 | 0 days | 1,682 sqft |
2019-08-01 | 0 days | 1,634 sqft |
2019-09-01 | 0 days | 1,626 sqft |
2019-10-01 | 0 days | 1,619 sqft |
2019-11-01 | 0 days | 1,564 sqft |
2019-12-01 | 0 days | 1,532 sqft |
2020-01-01 | 0 days | 1,503 sqft |
2020-02-01 | 0 days | 1,526 sqft |
2020-03-01 | 0 days | 1,531 sqft |
2020-04-01 | 0 days | 1,544 sqft |
2020-05-01 | 0 days | 1,676 sqft |
2020-06-01 | 0 days | 1,610 sqft |
2020-07-01 | 0 days | 1,646 sqft |
2020-08-01 | 0 days | 1,666 sqft |
2020-09-01 | 0 days | 1,709 sqft |
2020-10-01 | 0 days | 1,703 sqft |
2020-11-01 | 0 days | 1,642 sqft |
2020-12-01 | 0 days | 1,683 sqft |
2021-01-01 | 0 days | 1,690 sqft |
2021-02-01 | 0 days | 1,639 sqft |
2021-03-01 | 0 days | 1,667 sqft |
2021-04-01 | 0 days | 1,687 sqft |
2021-05-01 | 0 days | 1,668 sqft |
2021-06-01 | 0 days | 1,564 sqft |
2021-07-01 | 0 days | 1,567 sqft |
2021-08-01 | 0 days | 1,568 sqft |
2021-09-01 | 0 days | 1,608 sqft |
2021-10-01 | 0 days | 1,722 sqft |
2021-11-01 | 0 days | 1,672 sqft |
2021-12-01 | 0 days | 1,666 sqft |
2022-01-01 | 0 days | 1,704 sqft |
2022-02-01 | 0 days | 1,669 sqft |
2022-03-01 | 0 days | 1,695 sqft |
2022-04-01 | 0 days | 1,683 sqft |
2022-05-01 | 0 days | 1,679 sqft |
2022-06-01 | 0 days | 1,652 sqft |
2022-07-01 | 0 days | 1,676 sqft |
2022-08-01 | 0 days | 1,669 sqft |
2022-09-01 | 0 days | 1,636 sqft |
2022-10-01 | 0 days | 1,672 sqft |
2022-11-01 | 0 days | 1,697 sqft |
2022-12-01 | 0 days | 1,567 sqft |
2023-01-01 | 0 days | 1,609 sqft |
2023-02-01 | 0 days | 1,568 sqft |
Fairmont's median square footage for active listings during the 2023-02-01 period was 1,568 sqft. One year prior, the average listing was 1,669 sqft.
Fairmont, WV Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 746 | $126,680,000 | $169,812 |
Refi | 493 | $86,945,000 | $176,359 |
Cash Out Refi | 248 | $37,550,000 | $151,411 |
Home Improvement | 106 | $10,930,000 | $103,113 |
Other | 34 | $2,260,000 | $66,471 |
Fairmont's most frequently cited loan purpose was Home Purchase, with 746 originations. The 2nd most popular reason was Refi, with 493 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 575 | $102,275,000 | $177,870 |
3-4% | 530 | $83,910,000 | $158,321 |
<2.5% | 322 | $53,370,000 | $165,745 |
4-5% | 60 | $5,920,000 | $98,667 |
5-6% | 10 | $470,000 | $47,000 |
Over 8% | 9 | $355,000 | $39,444 |
6-7% | 7 | $615,000 | $87,857 |
7-8% | 4 | $200,000 | $50,000 |
During 2021, Fairmont's most frequently originated rate bucket was 2.5-3%, with 575 originations.
Loan Sizing (Fairmont, WV MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 791 | $114,505,000 | $144,760 |
$200k-400k | 410 | $105,720,000 | $257,854 |
$100,000 or less | 398 | $26,420,000 | $66,382 |
$400k-600k | 21 | $9,825,000 | $467,857 |
$600k-1000k | 4 | $3,200,000 | $800,000 |
$Over $1MM | 3 | $4,695,000 | $1,565,000 |
Fairmont's loan sizing saw the bucket of loans from $100k-200k with 791 originations, totaling $114,505,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 736 | $134,630,000 | $182,921 |
60-80% | 441 | $70,585,000 | $160,057 |
40-60% | 151 | $20,125,000 | $133,278 |
20-40% | 81 | $6,405,000 | $79,074 |
Under 20% | 30 | $830,000 | $27,667 |
Over 100% | 20 | $4,320,000 | $216,000 |
Fairmont's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 736 originations, totaling $134,630,000 in origination value.