Fallon Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Fallon averaged
6.55%
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
6.67% and
one month ago for the week of 2024-06-13, the
average rate was 6.63%.
Fallon's average rate one year ago was 6.74%.
For refis of the same type during the week of 2024-07-18, the average rate
was 7.37%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-07-18 | 6.77% |
| Fallon 30 Year Fixed Rate | 2024-07-18 | 6.55% |
| Fallon 30 Year Fixed Rate Refi | 2024-07-18 | 7.37% |
| Fallon 15 Year Fixed Rate | 2024-07-18 | 6.05% |
| Fallon 15 Year Fixed Rate Refi | 2024-07-18 | 6.05% |
| Fallon 30 Year FHA | 2024-07-18 | 6.39% |
| Fallon 30 Year FHA Refi | 2024-07-18 | 6.79% |
| Fallon 30 Year USDA | 2024-07-18 | 6.53% |
| Fallon 30 Year USDA Refi | 2024-07-18 | 6.73% |
| Fallon 30 Year VA | 2024-07-18 | 5.83% |
| Fallon 30 Year VA Refi | 2024-07-18 | 6.4% |
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 47 lenders originated 456
loans during 2023. The total origination value was $120,870,000, with an average loan value of
$265,066.
Fallon's average closing costs are $6,359.
The top Fallon lender as defined by loan originations is QUICKEN LOANS, LLC, with
17 loans originated. Their average total fees are
$7,117, which is $2,843
higher than the next largest lender,
DHI MORTGAGE COMPANY, LTD..
The lowest fee Fallon lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. ($4,274), PRIMELENDING, A PLAINSCAPITAL COMPANY ($6,221), UNITED WHOLESALE MORTGAGE, LLC ($7,005), QUICKEN LOANS, LLC ($7,117) and GUILD MORTGAGE COMPANY ($8,709).
The lowest rate Fallon lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.41%), GUILD MORTGAGE COMPANY (6.41%), PRIMELENDING, A PLAINSCAPITAL COMPANY (6.80%), QUICKEN LOANS, LLC (6.81%) and UNITED WHOLESALE MORTGAGE, LLC (7.02%).
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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| DHI MORTGAGE COMPANY, LTD. | $16,020,000 | $13,480,000 | -15.9% | 11.2% |
| UNITED WHOLESALE MORTGAGE, LLC | $4,330,000 | $12,535,000 | 189.5% | 10.4% |
| GUILD MORTGAGE COMPANY | $9,365,000 | $9,765,000 | 4.3% | 8.1% |
| QUICKEN LOANS, LLC | $17,750,000 | $9,650,000 | -45.6% | 8.0% |
| NAVY FEDERAL CREDIT UNION | $10,920,000 | $8,845,000 | -19.0% | 7.3% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $14,875,000 | $5,485,000 | -63.1% | 4.5% |
| Mortgage Research Center, LLC | $10,855,000 | $5,050,000 | -53.5% | 4.2% |
| SUMMIT FUNDING, INC. | $6,810,000 | $3,600,000 | -47.1% | 3.0% |
| UNITED | $4,915,000 | $2,605,000 | -47.0% | 2.2% |
| Plains Commerce Bank | $2,420,000 | n/a | 2.0% | |
| BROKER SOLUTIONS, INC. | $4,505,000 | $2,415,000 | -46.4% | 2.0% |
| GREATER NEVADA LLC | $4,400,000 | $2,410,000 | -45.2% | 2.0% |
| PENNYMAC LOAN SERVICES, LLC | $3,745,000 | $1,935,000 | -48.3% | 1.6% |
| VAN DYK MORTGAGE CORPORATION | $2,545,000 | $1,885,000 | -25.9% | 1.6% |
| Zions Bank | $3,100,000 | $1,810,000 | -41.6% | 1.5% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $1,055,000 | $1,735,000 | 64.5% | 1.4% |
| Equity Prime Mortgage LLC | $1,430,000 | n/a | 1.2% | |
| Gateway First Bank | $1,485,000 | $1,330,000 | -10.4% | 1.1% |
| AMERICAN FINANCIAL NETWORK, INC. | $1,240,000 | n/a | 1.0% | |
| Paramount Residential Mortgage Group, Inc. | $305,000 | $1,165,000 | 282.0% | 1.0% |
| LOANDEPOT.COM, LLC | $3,365,000 | $1,155,000 | -65.7% | 1.0% |
| CARDINAL FINANCIAL | $1,020,000 | $1,070,000 | 4.9% | 0.9% |
| MASON MCDUFFIE MORTGAGE CORPORATION | $825,000 | $1,020,000 | 23.6% | 0.8% |
| U.S. Bank | $3,700,000 | $1,020,000 | -72.4% | 0.8% |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $165,000 | $985,000 | 497.0% | 0.8% |
| VILLAGE CAPITAL MORTGAGE | $935,000 | n/a | 0.8% | |
| Flagstar Bank, FSB | $1,185,000 | $855,000 | -27.8% | 0.7% |
| TJC Mortgage, Inc. | $830,000 | n/a | 0.7% | |
| CROSSCOUNTRY MORTGAGE, LLC | $3,705,000 | $815,000 | -78.0% | 0.7% |
| Wells Fargo Bank | $3,730,000 | $795,000 | -78.7% | 0.7% |
| USAA Federal Savings Bank | $2,205,000 | $770,000 | -65.1% | 0.6% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $570,000 | $750,000 | 31.6% | 0.6% |
| EVERGREEN MONEYSOURCE MORTGAGE COMPANY | $2,495,000 | $650,000 | -73.9% | 0.5% |
| NEWREZ LLC | $1,160,000 | $645,000 | -44.4% | 0.5% |
| MID AMERICA MORTGAGE, INC. | $265,000 | $640,000 | 141.5% | 0.5% |
| RESIDENTIAL BANCORP | $320,000 | $630,000 | 96.9% | 0.5% |
| TEACHERS | $615,000 | n/a | 0.5% | |
| LOANPAL, LLC | $610,000 | n/a | 0.5% | |
| GUARANTEED RATE, INC. | $1,110,000 | $570,000 | -48.6% | 0.5% |
| PENTAGON FEDERAL CREDIT UNION | $650,000 | $545,000 | -16.2% | 0.5% |
| PACIFIC RESIDENTIAL MORTGAGE, LLC | $540,000 | n/a | 0.4% | |
| FREEDOM MORTGAGE CORPORATION | $4,985,000 | $510,000 | -89.8% | 0.4% |
| ISERVE RESIDENTIAL LENDING, LLC | $755,000 | $510,000 | -32.5% | 0.4% |
| American Mortgage & Equity Consultants, Inc. | $500,000 | n/a | 0.4% | |
| NBKC BANK | $375,000 | $485,000 | 29.3% | 0.4% |
| AMERICAN FINANCIAL RESOURCES, INC. | $490,000 | $455,000 | -7.1% | 0.4% |
| LONGBRIDGE FINANCIAL, LLC | $450,000 | n/a | 0.4% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $765,000 | $440,000 | -42.5% | 0.4% |
| Carrington Mortgage Services, LLC | $780,000 | $420,000 | -46.2% | 0.3% |
| UNIVERSAL MORTGAGE & FINANCE, INC. | $415,000 | n/a | 0.3% | |
| INTERCAP LENDING INC. | $385,000 | n/a | 0.3% | |
| NATIONWIDE MORTGAGE BANKERS, INC. | $385,000 | n/a | 0.3% | |
| OCMBC, INC. | $385,000 | n/a | 0.3% | |
| INFINITY EQUITY GROUP, INC. | $840,000 | $365,000 | -56.5% | 0.3% |
| AMERICA FIRST | $100,000 | $345,000 | 245.0% | 0.3% |
| JMAC LENDING, INC. | $420,000 | $335,000 | -20.2% | 0.3% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $335,000 | n/a | 0.3% | |
| AmeriHome Mortgage Company, LLC | $610,000 | $315,000 | -48.4% | 0.3% |
| NFM, INC. | $315,000 | n/a | 0.3% | |
| ON Q FINANCIAL, INC. | $775,000 | $305,000 | -60.6% | 0.3% |
| CALCON MUTUAL MORTGAGE LLC | $85,000 | $285,000 | 235.3% | 0.2% |
| SUN WEST MORTGAGE COMPANY, INC. | $560,000 | $285,000 | -49.1% | 0.2% |
| MOUNTAIN AMERICA | $375,000 | $280,000 | -25.3% | 0.2% |
| BAY EQUITY LLC | $1,770,000 | $275,000 | -84.5% | 0.2% |
| Chickasaw Community Bank | $275,000 | n/a | 0.2% | |
| Discover Bank | $195,000 | $275,000 | 41.0% | 0.2% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $275,000 | n/a | 0.2% | |
| CMG MORTGAGE, INC. | $265,000 | n/a | 0.2% | |
| KITSAP Credit Union | $265,000 | n/a | 0.2% | |
| MOVEMENT MORTGAGE, LLC | $275,000 | $265,000 | -3.6% | 0.2% |
| V.I.P. MORTGAGE, INC. | $265,000 | n/a | 0.2% | |
| AXIA FINANCIAL, LLC | $175,000 | $255,000 | 45.7% | 0.2% |
| ACADEMY MORTGAGE CORPORATION | $245,000 | n/a | 0.2% | |
| AMERISAVE MORTGAGE CORPORATION | $1,225,000 | $235,000 | -80.8% | 0.2% |
| Nations Lending Corporation | $1,490,000 | $235,000 | -84.2% | 0.2% |
| First National Bank of America | $225,000 | n/a | 0.2% | |
| VERITAS FUNDING, LLC | $225,000 | n/a | 0.2% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $355,000 | $215,000 | -39.4% | 0.2% |
| Northwest Farm Credit Services, FLCA | $505,000 | $195,000 | -61.4% | 0.2% |
| ALAMEDA MORTGAGE CORPORATION | $175,000 | n/a | 0.1% | |
| Baxter Credit Union | $165,000 | n/a | 0.1% | |
| LADERA LENDING, INC. | $125,000 | $165,000 | 32.0% | 0.1% |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $155,000 | n/a | 0.1% | |
| PHH Mortgage Corporation | $195,000 | $145,000 | -25.6% | 0.1% |
| Bank of America | $135,000 | n/a | 0.1% | |
| Umpqua Bank | $480,000 | $65,000 | -86.5% | 0.1% |
| DIGITAL Federal Credit Union | $55,000 | n/a | 0.0% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $925,000 | $55,000 | -94.1% | 0.0% |
| Figure Lending LLC | $405,000 | $25,000 | -93.8% | 0.0% |
Fallon's top lender by overall market share is DHI MORTGAGE COMPANY, LTD., with 11.2% market share. In second place, with 10.4%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $12,535,000 in loans. In third place, with 8.1%, is GUILD MORTGAGE COMPANY, having originated $9,765,000 in loans. In fourth place, with 8.0%, is QUICKEN LOANS, LLC, having originated $9,650,000 in loans. In fifth place, with 7.3%, is NAVY FEDERAL CREDIT UNION, having originated $8,845,000 in loans.
Fallon, NV Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 297 | $92,225,000 | $310,522 |
| Cash Out Refi | 81 | $16,225,000 | $200,309 |
| Home Improvement | 30 | $3,080,000 | $102,667 |
| Other | 30 | $2,680,000 | $89,333 |
| Refi | 18 | $6,660,000 | $370,000 |
Fallon's most frequently cited loan purpose was Home Purchase, with 297 originations. The 2nd most popular reason was Cash Out Refi, with 81 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 151 | $46,475,000 | $307,781 |
| 5-6% | 107 | $32,885,000 | $307,336 |
| 7-8% | 103 | $29,285,000 | $284,320 |
| Over 8% | 60 | $5,510,000 | $91,833 |
| 4-5% | 15 | $4,505,000 | $300,333 |
| <2.5% | 9 | $115,000 | $12,778 |
| 3-4% | 7 | $1,025,000 | $146,429 |
| 2.5-3% | 4 | $1,070,000 | $267,500 |
During 2023, Fallon's most frequently originated rate bucket was 6-7%, with 151 originations.
Loan Sizing (Fallon, NV MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 271 | $81,345,000 | $300,166 |
| $100,000 or less | 74 | $4,150,000 | $56,081 |
| $100k-200k | 62 | $9,570,000 | $154,355 |
| $400k-600k | 43 | $19,625,000 | $456,395 |
| $600k-1000k | 5 | $3,175,000 | $635,000 |
| $Over $1MM | 1 | $3,005,000 | $3,005,000 |
Fallon's loan sizing saw the bucket of loans from $200k-400k with 271 originations, totaling $81,345,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 209 | $70,025,000 | $335,048 |
| 60-80% | 65 | $18,405,000 | $283,154 |
| Under 20% | 57 | $2,975,000 | $52,193 |
| 40-60% | 49 | $12,375,000 | $252,551 |
| 20-40% | 41 | $4,625,000 | $112,805 |
| Over 100% | 30 | $11,110,000 | $370,333 |
Fallon's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 209 originations, totaling $70,025,000 in origination value.