Fort Payne Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Fort Payne averaged 7.23% for the week of 2023-11-30, compared to the national average of 7.22% for the same period.

The average rate for the prior week (2023-11-22) was 6.9% and one month ago for the week of 2023-10-26, the average rate was 7.7%.

Fort Payne's average rate one year ago was 6.39%.

For refis of the same type during the week of 2023-11-30, the average rate was 7.42%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-11-30 7.22%
Fort Payne 30 Year Fixed Rate 2023-11-30 7.23%
Fort Payne 30 Year Fixed Rate Refi 2023-11-30 7.42%
Fort Payne 15 Year Fixed Rate 2023-11-30 6.36%
Fort Payne 15 Year Fixed Rate Refi 2023-11-30 6.46%
Fort Payne 30 Year FHA 2023-11-30 6.4%
Fort Payne 30 Year FHA Refi 2023-11-30 6.85%
Fort Payne 30 Year USDA 2023-11-30 7.2%
Fort Payne 30 Year USDA Refi 2023-11-30 7.1%
Fort Payne 30 Year VA 2023-11-30 6.59%
Fort Payne 30 Year VA Refi 2023-11-30 6.97%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Fort Payne, AL.

Fort Payne 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 Fort Payne, 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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 38 5.28% $6,455
MORTGAGE INVESTORS GROUP, INC. 27 5.26% $3,550
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 25 5.41% $4,952
Regions Bank 24 4.85% $3,926
REDSTONE Federal Credit Union 12 4.98% $2,982
Renasant Bank 11 4.72% $4,376
UNITED WHOLESALE MORTGAGE, LLC 10 5.11% $4,445
LOANDEPOT.COM, LLC 9 3.65% $6,196
Wells Fargo Bank 8 5.70% $3,804
FirstBank 7 5.12% $5,267
ALABAMA TEACHERS 6 4.58% $2,275
PNC Bank 6 4.98% $5,348
CERTAINTY HOME LOANS, LLC 6 5.60% $7,507
TJC Mortgage, Inc. 5 5.80% $5,458
GMFS LLC 5 3.68% $1,963
PENNYMAC LOAN SERVICES, LLC 4 3.84% $6,542
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 5.31% $4,277
SECURITYNATIONAL MORTGAGE COMPANY 4 5.81% $6,505
BETTER MORTGAGE CORPORATION 4 5.28% $4,198
Mr. Cooper ( Nationstar Mortgage ) 3 5.17% $3,907
GUARANTEED RATE, INC. 3 4.18% $4,086
Truist 3 6.23% $3,373
AMERISAVE MORTGAGE CORPORATION 3 4.17% $4,533
Goldwater Bank, N.A. 3 5.75% $5,580
JPMorgan Chase Bank 3 5.33% $6,077
FREEDOM MORTGAGE CORPORATION 3 5.83% $5,629
USAA Federal Savings Bank 2 5.13% $6,252
BROKER SOLUTIONS, INC. 2 5.68% $7,798
UNION HOME MORTGAGE CORP. 2 5.25% $5,686
LAKEVIEW LOAN SERVICING, LLC 2 3.68% $1,544
ROYAL UNITED MORTGAGE LLC 2 6.25% $5,911
First Federal Bank, A FSB 2 4.19% $5,227
HOME POINT FINANCIAL CORPORATION 2 4.50% $5,128
CALIBER HOME LOANS, INC. 2 4.78% $10,081
TENNESSEE VALLEY 2 4.54% $4,347
NAVY FEDERAL CREDIT UNION 2 3.94% $5,749
SouthPoint Bank 1 4.25% $2,817
Trustmark National Bank 1 5.75% $4,145
United Community Bank 1 6.39% $2,936
U.S. Bank 1 3.25% $3,518
VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.38% $5,849
ZILLOW HOME LOANS, LLC 1 7.50% $3,400
Alcova Mortgage LLC 1 4.50% $2,696
Ally Bank 1 3.38% $1,684
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.13% $5,813
Ameris Bank 1 4.49% $5,428
ANGEL OAK HOME LOANS LLC 1 8.38% $10,499
AOD Federal Credit Union 1 2.99% $3,957
ASCEND FEDERAL CREDIT UNION 1 2.75% $2,660
Assurance Financial Group, L.L.C. 1 4.75% $2,963
BancorpSouth 1 4.50% $3,304
Bank of America 1 5.63% $6,388
Bank of England 1 5.13% $5,091
Barrington Bank & Trust Company, N.A. 1 5.75% $5,779
BAYSHORE MORTGAGE FUNDING, LLC 1 5.88% $5,132
Carrington Mortgage Services, LLC 1 3.88% $3,714
CMG MORTGAGE, INC. 1 5.38% $3,277
CRESCENT MORTGAGE COMPANY 1 3.63% $2,821
DELTA COMMUNITY CREDIT UNION 1 4.00% $3,109
ENVOY MORTGAGE, LTD 1 3.99% $4,688
FIRST COMMUNITY MORTGAGE, INC. 1 6.50% $5,030
First Horizon Bank 1 5.25% $2,942
GUILD MORTGAGE COMPANY 1 4.75% $4,333
HOMESTAR FINANCIAL CORPORATION 1 3.50% $3,231
Hometown Lenders, Inc. 1 5.99% $11,122
INTERCAP LENDING INC. 1 5.50% $3,948
Legends Bank 1 3.25% $2,883
Magnolia Bank 1 4.50% $4,401
Mortgage Research Center, LLC 1 3.38% $1,302
MOVEMENT MORTGAGE, LLC 1 4.99% $3,030
Nations Lending Corporation 1 7.63% $6,697
NBKC BANK 1 5.13% $2,334
PHH Mortgage Corporation 1 4.00% $6,733
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.63% $9,132
RELIANCE FIRST CAPITAL, LLC 1 3.88% $8,281
River Bank & Trust 1 4.50% $6,824
ServisFirst Bank 1 4.25% $5,912

Fort Payne Average Closing Costs & Other Stats

Fort Payne, AL's 77 lenders originated 1,042 loans during 2022. The total origination value was $170,860,000, with an average loan value of $163,973.

Fort Payne's average closing costs are $4,452.

The top Fort Payne lender as defined by loan originations is QUICKEN LOANS, LLC, with 38 loans originated. Their average total fees are $6,455, which is $2,904 higher than the next largest lender, MORTGAGE INVESTORS GROUP, INC..

The lowest fee Fort Payne lenders (with over 10 loans originated) are REDSTONE Federal Credit Union ($2,982), MORTGAGE INVESTORS GROUP, INC. ($3,550), Regions Bank ($3,926), Renasant Bank ($4,376) and UNITED WHOLESALE MORTGAGE, LLC ($4,445).

The lowest rate Fort Payne lenders (with over 10 loans originated) are Renasant Bank (4.72%), Regions Bank (4.85%), REDSTONE Federal Credit Union (4.98%), UNITED WHOLESALE MORTGAGE, LLC (5.11%) and MORTGAGE INVESTORS GROUP, INC. (5.26%).

Fort Payne, 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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
QUICKEN LOANS, LLC $26,160,000 $18,570,000 -29.0% 10.9%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $17,170,000 $15,255,000 -11.2% 8.9%
Regions Bank $20,650,000 $9,035,000 -56.2% 5.3%
Mortgage Research Center, LLC $6,345,000 $6,020,000 -5.1% 3.5%
Renasant Bank $17,655,000 $5,905,000 -66.6% 3.5%
MORTGAGE INVESTORS GROUP, INC. $8,610,000 $5,715,000 -33.6% 3.3%
UNITED WHOLESALE MORTGAGE, LLC $3,825,000 $5,690,000 48.8% 3.3%
Liberty Bank $3,530,000 $5,415,000 53.4% 3.2%
LOANDEPOT.COM, LLC $6,085,000 $5,335,000 -12.3% 3.1%
FirstBank $4,850,000 $4,245,000 -12.5% 2.5%
CERTAINTY HOME LOANS, LLC $6,130,000 $4,085,000 -33.4% 2.4%
REDSTONE Federal Credit Union $3,525,000 $3,605,000 2.3% 2.1%
TJC Mortgage, Inc. $2,130,000 $3,080,000 44.6% 1.8%
NAVY FEDERAL CREDIT UNION $820,000 $2,990,000 264.6% 1.7%
PENNYMAC LOAN SERVICES, LLC $2,810,000 $2,805,000 -0.2% 1.6%
PNC Bank $340,000 $2,515,000 639.7% 1.5%
ALABAMA TEACHERS $2,530,000 $2,455,000 -3.0% 1.4%
SECURITYNATIONAL MORTGAGE COMPANY $2,440,000 n/a 1.4%
Wells Fargo Bank $3,470,000 $2,135,000 -38.5% 1.2%
First Federal Bank, A FSB $1,905,000 $2,100,000 10.2% 1.2%
VANDERBILT MORTGAGE AND FINANCE, INC. $3,050,000 $2,045,000 -33.0% 1.2%
First Southern Bank $2,040,000 n/a 1.2%
AMERISAVE MORTGAGE CORPORATION $2,010,000 $1,985,000 -1.2% 1.2%
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. $1,545,000 $1,820,000 17.8% 1.1%
FAMILY SAVINGS $555,000 $1,790,000 222.5% 1.0%
Mr. Cooper ( Nationstar Mortgage ) $1,620,000 $1,780,000 9.9% 1.0%
Goldwater Bank, N.A. $1,885,000 $1,680,000 -10.9% 1.0%
BancorpSouth Bank $1,290,000 $1,565,000 21.3% 0.9%
21ST MORTGAGE CORPORATION $1,095,000 $1,470,000 34.2% 0.9%
BROKER SOLUTIONS, INC. $1,865,000 $1,465,000 -21.4% 0.9%
HOMESTAR FINANCIAL CORPORATION $590,000 $1,435,000 143.2% 0.8%
Citizens Bank & Trust, Inc. $2,720,000 $1,415,000 -48.0% 0.8%
GMFS LLC $5,310,000 $1,395,000 -73.7% 0.8%
USAA Federal Savings Bank $950,000 $1,305,000 37.4% 0.8%
CALIBER HOME LOANS, INC. $3,400,000 $1,270,000 -62.6% 0.7%
Hometown Lenders, Inc. $1,755,000 $1,130,000 -35.6% 0.7%
BETTER MORTGAGE CORPORATION $1,020,000 $1,110,000 8.8% 0.6%
First Jackson Bank, Inc. $370,000 $1,085,000 193.2% 0.6%
FREEDOM MORTGAGE CORPORATION $5,690,000 $1,070,000 -81.2% 0.6%
JPMorgan Chase Bank $1,410,000 $995,000 -29.4% 0.6%
TRIAD FINANCIAL SERVICES, INC. $280,000 $995,000 255.4% 0.6%
MOVEMENT MORTGAGE, LLC $1,120,000 $970,000 -13.4% 0.6%
GUARANTEED RATE, INC. $310,000 $895,000 188.7% 0.5%
NEW DAY FINANCIAL, LLC $1,130,000 $885,000 -21.7% 0.5%
EvaBank $495,000 $795,000 60.6% 0.5%
Nations Lending Corporation $235,000 $765,000 225.5% 0.4%
ServisFirst Bank $345,000 $705,000 104.3% 0.4%
TENNESSEE VALLEY $360,000 $700,000 94.4% 0.4%
Truist $660,000 $630,000 -4.5% 0.4%
ANGEL OAK HOME LOANS LLC $625,000 n/a 0.4%
SOUTHWEST STAGE FUNDING, LLC $515,000 $620,000 20.4% 0.4%
The Hometown Bank of Alabama $340,000 $570,000 67.6% 0.3%
Consumer First Mortgage, Inc. $1,095,000 $565,000 -48.4% 0.3%
Mid-Continent Funding, Inc. $155,000 $540,000 248.4% 0.3%
River Bank & Trust $270,000 $540,000 100.0% 0.3%
UNION HOME MORTGAGE CORP. $530,000 n/a 0.3%
Trustmark National Bank $2,220,000 $500,000 -77.5% 0.3%
CROSSCOUNTRY MORTGAGE, LLC $215,000 $495,000 130.2% 0.3%
First Guaranty Mortgage Corporation $240,000 $495,000 106.3% 0.3%
HOME POINT FINANCIAL CORPORATION $2,805,000 $495,000 -82.4% 0.3%
Metro City Bank $155,000 $475,000 206.5% 0.3%
Ameris Bank $640,000 $460,000 -28.1% 0.3%
LAKEVIEW LOAN SERVICING, LLC $1,395,000 $460,000 -67.0% 0.3%
MORTGAGE SOLUTIONS OF COLORADO, LLC $265,000 $460,000 73.6% 0.3%
Carrington Mortgage Services, LLC $220,000 $455,000 106.8% 0.3%
North American Savings Bank, F.S.B. $265,000 $445,000 67.9% 0.3%
CMG MORTGAGE, INC. $155,000 $440,000 183.9% 0.3%
ACOPIA, LLC $1,700,000 $430,000 -74.7% 0.3%
GUILD MORTGAGE COMPANY $195,000 $390,000 100.0% 0.2%
PRIMARY RESIDENTIAL MORTGAGE, INC. $385,000 n/a 0.2%
First Horizon Bank $185,000 $380,000 105.4% 0.2%
NEWREZ LLC $675,000 $370,000 -45.2% 0.2%
RELIANCE FIRST CAPITAL, LLC $215,000 $360,000 67.4% 0.2%
Metro Bank $355,000 n/a 0.2%
Hamilton Mortgage Corporation $345,000 n/a 0.2%
PLANET HOME LENDING, LLC $365,000 $340,000 -6.8% 0.2%
Bank of England $410,000 $330,000 -19.5% 0.2%
INTERCAP LENDING INC. $325,000 n/a 0.2%
Victorian Finance, LLC $315,000 n/a 0.2%
AMERICAN PACIFIC MORTGAGE CORPORATION $185,000 $310,000 67.6% 0.2%
FINANCE OF AMERICA MORTGAGE LLC $305,000 n/a 0.2%
Bank of America $1,085,000 $295,000 -72.8% 0.2%
ZILLOW HOME LOANS, LLC $345,000 $280,000 -18.8% 0.2%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $165,000 $275,000 66.7% 0.2%
Family Security Credit Union $265,000 $270,000 1.9% 0.2%
First National Bank of Pulaski $265,000 n/a 0.2%
ROYAL UNITED MORTGAGE LLC $320,000 $265,000 -17.2% 0.2%
Citizens Bank & Trust $475,000 $260,000 -45.3% 0.2%
1ST SIGNATURE LENDING, LLC $255,000 n/a 0.1%
SouthPoint Bank $220,000 $250,000 13.6% 0.1%
ISERVE RESIDENTIAL LENDING, LLC $340,000 $245,000 -27.9% 0.1%
Peoples Bank of Alabama $270,000 $245,000 -9.3% 0.1%
PHH Mortgage Corporation $240,000 n/a 0.1%
United Community Bank $155,000 $240,000 54.8% 0.1%
NBKC BANK $165,000 $235,000 42.4% 0.1%
AMERIFIRST FINANCIAL CORPORATION $365,000 $230,000 -37.0% 0.1%
Barrington Bank & Trust Company, N.A. $575,000 $220,000 -61.7% 0.1%
ATLANTA POSTAL $215,000 n/a 0.1%
COUNTRYPLACE MORTGAGE, LTD. $210,000 n/a 0.1%
AMERICAN FINANCIAL RESOURCES, INC. $290,000 $205,000 -29.3% 0.1%
MID AMERICA MORTGAGE, INC. $205,000 n/a 0.1%
Planters Bank & Trust Company $195,000 n/a 0.1%
Progress Bank and Trust $195,000 n/a 0.1%
Alcova Mortgage LLC $185,000 n/a 0.1%
AOD Federal Credit Union $175,000 n/a 0.1%
EVERETT FINANCIAL, INC. $175,000 n/a 0.1%
First Federal Bank $345,000 $165,000 -52.2% 0.1%
MILLENNIUM BANK $165,000 n/a 0.1%
NATIONS DIRECT MORTGAGE, LLC $165,000 n/a 0.1%
CSL Financial, LLC $410,000 $160,000 -61.0% 0.1%
HOMESIDE FINANCIAL, LLC $750,000 $155,000 -79.3% 0.1%
Synovus Bank $540,000 $155,000 -71.3% 0.1%
Ally Bank $570,000 $145,000 -74.6% 0.1%
ENVOY MORTGAGE, LTD $145,000 n/a 0.1%
First South Farm Credit, ACA $145,000 n/a 0.1%
Legends Bank $145,000 n/a 0.1%
PRIMELENDING, A PLAINSCAPITAL COMPANY $765,000 $145,000 -81.0% 0.1%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $1,415,000 $135,000 -90.5% 0.1%
CU COMMUNITY, LLC $135,000 n/a 0.1%
Assurance Financial Group, L.L.C. $445,000 $125,000 -71.9% 0.1%
Citizens Bank $425,000 $115,000 -72.9% 0.1%
Magnolia Bank $115,000 n/a 0.1%
MUTUAL OF OMAHA MORTGAGE, INC. $405,000 $115,000 -71.6% 0.1%
ASCEND FEDERAL CREDIT UNION $105,000 n/a 0.1%
CREDIT HUMAN FEDERAL CREDIT UNION $85,000 $105,000 23.5% 0.1%
VELOCITY COMMERCIAL CAPITAL, LLC $105,000 n/a 0.1%
FIRST COMMUNITY MORTGAGE, INC. $530,000 $95,000 -82.1% 0.1%
M&T Bank $75,000 $95,000 26.7% 0.1%
BAYSHORE MORTGAGE FUNDING, LLC $85,000 n/a 0.0%
DELTA COMMUNITY CREDIT UNION $85,000 n/a 0.0%
SUN WEST MORTGAGE COMPANY, INC. $85,000 n/a 0.0%
U.S. Bank $585,000 $85,000 -85.5% 0.0%
CRESCENT MORTGAGE COMPANY $75,000 n/a 0.0%
MIDLAND MORTGAGE CORPORATION $65,000 n/a 0.0%
Figure Lending LLC $55,000 n/a 0.0%
AMERICAN ADVISORS GROUP $145,000 $45,000 -69.0% 0.0%
KEESLER $45,000 n/a 0.0%
1st Franklin Financial Corporation $130,000 $5,000 -96.2% 0.0%

Fort Payne's top lender by overall market share is QUICKEN LOANS, LLC, with 10.9% market share. In second place, with 8.9%, is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, having originated $15,255,000 in loans. In third place, with 5.3%, is Regions Bank, having originated $9,035,000 in loans. In fourth place, with 3.5%, is Mortgage Research Center, LLC, having originated $6,020,000 in loans. In fifth place, with 3.5%, is Renasant Bank, having originated $5,905,000 in loans.

Fort Payne, AL Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 592 $112,470,000 $189,983
Refi 181 $23,215,000 $128,260
Cash Out Refi 179 $29,185,000 $163,045
Home Improvement 56 $3,650,000 $65,179
Other 34 $2,340,000 $68,824

Fort Payne's most frequently cited loan purpose was Home Purchase, with 592 originations. The 2nd most popular reason was Refi, with 181 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
5-6% 260 $45,610,000 $175,423
3-4% 197 $34,825,000 $176,777
4-5% 196 $37,460,000 $191,122
6-7% 126 $22,020,000 $174,762
2.5-3% 48 $7,550,000 $157,292
7-8% 38 $5,100,000 $134,211
Over 8% 33 $3,815,000 $115,606
<2.5% 14 $1,870,000 $133,571

During 2022, Fort Payne's most frequently originated rate bucket was 5-6%, with 260 originations.

Loan Sizing (Fort Payne, AL MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 480 $70,320,000 $146,500
$100,000 or less 284 $16,620,000 $58,521
$200k-400k 240 $63,560,000 $264,833
$400k-600k 28 $13,100,000 $467,857
$600k-1000k 10 $7,260,000 $726,000

Fort Payne's loan sizing saw the bucket of loans from $100k-200k with 480 originations, totaling $70,320,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 482 $94,340,000 $195,726
60-80% 212 $38,620,000 $182,170
40-60% 101 $13,855,000 $137,178
20-40% 51 $4,395,000 $86,176
Under 20% 41 $1,315,000 $32,073
Over 100% 20 $5,030,000 $251,500

Fort Payne's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 482 originations, totaling $94,340,000 in origination value.