Fallon Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Fallon averaged
6.81%
for the week of 2023-09-14, compared to the national average of
7.18% for the same period.
The average rate for the prior week (2023-09-07) was
6.55% and
one month ago for the week of 2023-08-10, the
average rate was 6.39%.
Fallon's average rate one year ago was 5.22%.
For refis of the same type during the week of 2023-09-14, the average rate
was 7.78%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-09-14 | 7.18% |
Fallon 30 Year Fixed Rate | 2023-09-14 | 6.81% |
Fallon 30 Year Fixed Rate Refi | 2023-09-14 | 7.78% |
Fallon 15 Year Fixed Rate | 2023-09-14 | 6.51% |
Fallon 15 Year Fixed Rate Refi | 2023-09-14 | 6.71% |
Fallon 30 Year FHA | 2023-09-14 | 6.89% |
Fallon 30 Year FHA Refi | 2023-09-14 | 7.09% |
Fallon 30 Year USDA | 2023-09-14 | 6.98% |
Fallon 30 Year USDA Refi | 2023-09-14 | 7.08% |
Fallon 30 Year VA | 2023-09-14 | 6.29% |
Fallon 30 Year VA Refi | 2023-09-14 | 6.61% |
Fallon 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 Fallon, NV 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.).
Fallon Average Closing Costs & Other Stats
Fallon, NV's 59 lenders originated 742
loans during 2022. The total origination value was $200,200,000, with an average loan value of
$269,811.
Fallon's average closing costs are $6,072.
The top Fallon lender as defined by loan originations is QUICKEN LOANS, LLC, with
41 loans originated. Their average total fees are
$6,302, which is $678
higher than the next largest lender,
PRIMELENDING, A PLAINSCAPITAL COMPANY.
The lowest fee Fallon lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. ($3,577), GREATER NEVADA LLC ($3,692), PRIMELENDING, A PLAINSCAPITAL COMPANY ($5,624), UNITED ($5,642) and QUICKEN LOANS, LLC ($6,302).
The lowest rate Fallon lenders (with over 10 loans originated) are
UNITED (4.50%), DHI MORTGAGE COMPANY, LTD. (4.54%), GREATER NEVADA LLC (4.63%), PRIMELENDING, A PLAINSCAPITAL COMPANY (4.71%) and QUICKEN LOANS, LLC (4.83%).
Fallon, NV 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 | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
---|---|---|---|---|
QUICKEN LOANS, LLC | $33,855,000 | $17,750,000 | -47.6% | 8.9% |
DHI MORTGAGE COMPANY, LTD. | $16,020,000 | n/a | 8.0% | |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $21,130,000 | $14,875,000 | -29.6% | 7.4% |
NAVY FEDERAL CREDIT UNION | $11,175,000 | $10,920,000 | -2.3% | 5.5% |
Mortgage Research Center, LLC | $16,125,000 | $10,855,000 | -32.7% | 5.4% |
GUILD MORTGAGE COMPANY | $16,445,000 | $9,365,000 | -43.1% | 4.7% |
Columbia State Bank | $7,455,000 | n/a | 3.7% | |
SUMMIT FUNDING, INC. | $12,865,000 | $6,810,000 | -47.1% | 3.4% |
FREEDOM MORTGAGE CORPORATION | $16,510,000 | $4,985,000 | -69.8% | 2.5% |
UNITED | $2,860,000 | $4,915,000 | 71.9% | 2.5% |
BROKER SOLUTIONS, INC. | $11,625,000 | $4,505,000 | -61.2% | 2.3% |
GREATER NEVADA LLC | $7,275,000 | $4,400,000 | -39.5% | 2.2% |
UNITED WHOLESALE MORTGAGE, LLC | $2,730,000 | $4,330,000 | 58.6% | 2.2% |
PENNYMAC LOAN SERVICES, LLC | $9,355,000 | $3,745,000 | -60.0% | 1.9% |
Wells Fargo Bank | $8,270,000 | $3,730,000 | -54.9% | 1.9% |
CROSSCOUNTRY MORTGAGE, LLC | $1,415,000 | $3,705,000 | 161.8% | 1.9% |
U.S. Bank | $4,190,000 | $3,700,000 | -11.7% | 1.8% |
LOANDEPOT.COM, LLC | $7,770,000 | $3,365,000 | -56.7% | 1.7% |
Zions Bancorporation, N.A. | $2,265,000 | $3,100,000 | 36.9% | 1.5% |
VAN DYK MORTGAGE CORPORATION | $3,935,000 | $2,545,000 | -35.3% | 1.3% |
EVERGREEN MONEYSOURCE MORTGAGE COMPANY | $4,380,000 | $2,495,000 | -43.0% | 1.2% |
Northpointe Bank | $2,265,000 | $2,325,000 | 2.6% | 1.2% |
USAA Federal Savings Bank | $3,055,000 | $2,205,000 | -27.8% | 1.1% |
HOME POINT FINANCIAL CORPORATION | $925,000 | $2,075,000 | 124.3% | 1.0% |
CALIBER HOME LOANS, INC. | $5,840,000 | $2,035,000 | -65.2% | 1.0% |
NEW DAY FINANCIAL, LLC | $875,000 | $1,940,000 | 121.7% | 1.0% |
BAY EQUITY LLC | $535,000 | $1,770,000 | 230.8% | 0.9% |
Nations Lending Corporation | $350,000 | $1,490,000 | 325.7% | 0.7% |
Gateway First Bank | $520,000 | $1,485,000 | 185.6% | 0.7% |
Mr. Cooper ( Nationstar Mortgage ) | $4,045,000 | $1,465,000 | -63.8% | 0.7% |
Sierra Pacific Mortgage Company, Inc. | $1,410,000 | $1,420,000 | 0.7% | 0.7% |
Barrington Bank & Trust Company, N.A. | $500,000 | $1,340,000 | 168.0% | 0.7% |
HOMEXPRESS MORTGAGE CORP. | $465,000 | $1,330,000 | 186.0% | 0.7% |
AMERISAVE MORTGAGE CORPORATION | $5,135,000 | $1,225,000 | -76.1% | 0.6% |
LENDINGHOME FUNDING CORPORATION | $490,000 | $1,190,000 | 142.9% | 0.6% |
Flagstar Bank, FSB | $1,470,000 | $1,185,000 | -19.4% | 0.6% |
NEWREZ LLC | $2,440,000 | $1,160,000 | -52.5% | 0.6% |
GUARANTEED RATE, INC. | $1,475,000 | $1,110,000 | -24.7% | 0.6% |
FINANCE OF AMERICA MORTGAGE LLC | $6,470,000 | $1,080,000 | -83.3% | 0.5% |
MUTUAL OF OMAHA MORTGAGE, INC. | $1,145,000 | $1,055,000 | -7.9% | 0.5% |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $1,765,000 | $1,020,000 | -42.2% | 0.5% |
CLEARPATH LENDING | $3,810,000 | $1,020,000 | -73.2% | 0.5% |
HOMEBRIDGE FINANCIAL SERVICES, INC. | $1,685,000 | $925,000 | -45.1% | 0.5% |
INFINITY EQUITY GROUP, INC. | $285,000 | $840,000 | 194.7% | 0.4% |
MASON MCDUFFIE MORTGAGE CORPORATION | $515,000 | $825,000 | 60.2% | 0.4% |
Carrington Mortgage Services, LLC | $1,325,000 | $780,000 | -41.1% | 0.4% |
ON Q FINANCIAL, INC. | $420,000 | $775,000 | 84.5% | 0.4% |
Washington Federal Bank | $805,000 | $775,000 | -3.7% | 0.4% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,000,000 | $765,000 | -23.5% | 0.4% |
ISERVE RESIDENTIAL LENDING, LLC | $3,850,000 | $755,000 | -80.4% | 0.4% |
The Federal Savings Bank | $1,040,000 | $750,000 | -27.9% | 0.4% |
Magnolia Bank | $650,000 | n/a | 0.3% | |
PENTAGON FEDERAL CREDIT UNION | $615,000 | $650,000 | 5.7% | 0.3% |
PNC Bank | $625,000 | n/a | 0.3% | |
AMERICAN ADVISORS GROUP | $545,000 | $620,000 | 13.8% | 0.3% |
AmeriHome Mortgage Company, LLC | $155,000 | $610,000 | 293.5% | 0.3% |
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $570,000 | n/a | 0.3% | |
SUN WEST MORTGAGE COMPANY, INC. | $1,730,000 | $560,000 | -67.6% | 0.3% |
Northwest Farm Credit Services, FLCA | $530,000 | $505,000 | -4.7% | 0.3% |
LAKEVIEW LOAN SERVICING, LLC | $565,000 | $500,000 | -11.5% | 0.2% |
AMERICAN FINANCIAL RESOURCES, INC. | $460,000 | $490,000 | 6.5% | 0.2% |
Umpqua Bank | $35,000 | $480,000 | 1,271.4% | 0.2% |
PLANET HOME LENDING, LLC | $1,060,000 | $475,000 | -55.2% | 0.2% |
ANGEL OAK HOME LOANS LLC | $465,000 | n/a | 0.2% | |
Hometown Lenders, Inc. | $890,000 | $440,000 | -50.6% | 0.2% |
CHEVRON | $425,000 | n/a | 0.2% | |
JMAC LENDING, INC. | $700,000 | $420,000 | -40.0% | 0.2% |
Figure Lending LLC | $125,000 | $405,000 | 224.0% | 0.2% |
MOUNTAIN AMERICA | $1,465,000 | $375,000 | -74.4% | 0.2% |
NBKC BANK | $1,525,000 | $375,000 | -75.4% | 0.2% |
UNION HOME MORTGAGE CORP. | $365,000 | n/a | 0.2% | |
Willamette Valley Bank | $185,000 | $365,000 | 97.3% | 0.2% |
PRIMARY RESIDENTIAL MORTGAGE, INC. | $155,000 | $355,000 | 129.0% | 0.2% |
Armed Forces Bank | $335,000 | n/a | 0.2% | |
CenterBank | $335,000 | n/a | 0.2% | |
DATA MORTGAGE, INC. | $335,000 | n/a | 0.2% | |
OPEN MORTGAGE, LLC | $335,000 | n/a | 0.2% | |
BNC National Bank | $345,000 | $325,000 | -5.8% | 0.2% |
RESIDENTIAL BANCORP. | $680,000 | $320,000 | -52.9% | 0.2% |
Paramount Residential Mortgage Group, Inc. | $305,000 | n/a | 0.2% | |
Amerifirst Financial, Inc. | $330,000 | $300,000 | -9.1% | 0.1% |
BOKF | $285,000 | n/a | 0.1% | |
MOVEMENT MORTGAGE, LLC | $1,525,000 | $275,000 | -82.0% | 0.1% |
AMERICAN FINANCING CORPORATION | $425,000 | $265,000 | -37.6% | 0.1% |
MID AMERICA MORTGAGE, INC. | $265,000 | n/a | 0.1% | |
TOP FLITE FINANCIAL, INC. | $520,000 | $265,000 | -49.0% | 0.1% |
DRAPER AND KRAMER MORTGAGE CORP. | $235,000 | n/a | 0.1% | |
HOMEOWNERS FINANCIAL GROUP USA, LLC | $370,000 | $235,000 | -36.5% | 0.1% |
ANGEL OAK MORTGAGE SOLUTIONS LLC | $215,000 | n/a | 0.1% | |
LAND HOME FINANCIAL SERVICES, INC. | $215,000 | n/a | 0.1% | |
VELOCITY COMMERCIAL CAPITAL, LLC | $205,000 | n/a | 0.1% | |
21ST MORTGAGE CORPORATION | $225,000 | $195,000 | -13.3% | 0.1% |
Discover Bank | $195,000 | n/a | 0.1% | |
PHH Mortgage Corporation | $105,000 | $195,000 | 85.7% | 0.1% |
Paramount Bank | $185,000 | n/a | 0.1% | |
AXIA FINANCIAL, LLC | $920,000 | $175,000 | -81.0% | 0.1% |
Bank of the West | $435,000 | $175,000 | -59.8% | 0.1% |
M&T Bank | $520,000 | $175,000 | -66.3% | 0.1% |
PREMIER MORTGAGE RESOURCES, L.L.C. | $470,000 | $165,000 | -64.9% | 0.1% |
Watermark Capital, Inc. | $245,000 | $165,000 | -32.7% | 0.1% |
LADERA LENDING, INC. | $490,000 | $125,000 | -74.5% | 0.1% |
SPRING EQ, LLC | $110,000 | n/a | 0.1% | |
AMERICA FIRST | $315,000 | $100,000 | -68.3% | 0.0% |
REVERSE MORTGAGE FUNDING LLC | $155,000 | $95,000 | -38.7% | 0.0% |
CALCON MUTUAL MORTGAGE LLC | $1,020,000 | $85,000 | -91.7% | 0.0% |
MOUNTAIN WEST FINANCIAL, INC. | $205,000 | $75,000 | -63.4% | 0.0% |
JPMorgan Chase Bank | $1,070,000 | $55,000 | -94.9% | 0.0% |
Great Basin Federal Credit Union | $35,000 | n/a | 0.0% | |
Deseret First Credit Union | $25,000 | n/a | 0.0% |
Fallon's top lender by overall market share is QUICKEN LOANS, LLC, with 8.9% market share. In second place, with 8.0%, is DHI MORTGAGE COMPANY, LTD., having originated $16,020,000 in loans. In third place, with 7.4%, is PRIMELENDING, A PLAINSCAPITAL COMPANY, having originated $14,875,000 in loans. In fourth place, with 5.5%, is NAVY FEDERAL CREDIT UNION, having originated $10,920,000 in loans. In fifth place, with 5.4%, is Mortgage Research Center, LLC, having originated $10,855,000 in loans.
Fallon, NV Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 376 | $122,440,000 | $325,638 |
Cash Out Refi | 222 | $57,340,000 | $258,288 |
Refi | 62 | $12,110,000 | $195,323 |
Home Improvement | 49 | $5,025,000 | $102,551 |
Other | 33 | $3,285,000 | $99,545 |
Fallon's most frequently cited loan purpose was Home Purchase, with 376 originations. The 2nd most popular reason was Cash Out Refi, with 222 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
4-5% | 229 | $72,145,000 | $315,044 |
3-4% | 185 | $49,165,000 | $265,757 |
5-6% | 140 | $39,600,000 | $282,857 |
6-7% | 74 | $16,500,000 | $222,973 |
2.5-3% | 49 | $14,155,000 | $288,878 |
<2.5% | 27 | $3,835,000 | $142,037 |
Over 8% | 21 | $1,935,000 | $92,143 |
7-8% | 15 | $2,515,000 | $167,667 |
During 2022, Fallon's most frequently originated rate bucket was 4-5%, with 229 originations.
Loan Sizing (Fallon, NV MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$200k-400k | 430 | $127,350,000 | $296,163 |
$100k-200k | 145 | $22,155,000 | $152,793 |
$100,000 or less | 85 | $4,525,000 | $53,235 |
$400k-600k | 75 | $34,325,000 | $457,667 |
$600k-1000k | 5 | $3,105,000 | $621,000 |
$Over $1MM | 2 | $8,740,000 | $4,370,000 |
Fallon's loan sizing saw the bucket of loans from $200k-400k with 430 originations, totaling $127,350,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 281 | $95,545,000 | $340,018 |
60-80% | 179 | $48,805,000 | $272,654 |
40-60% | 100 | $28,580,000 | $285,800 |
20-40% | 73 | $9,675,000 | $132,534 |
Under 20% | 65 | $3,045,000 | $46,846 |
Over 100% | 36 | $12,790,000 | $355,278 |
Fallon's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 281 originations, totaling $95,545,000 in origination value.