GADSDEN Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Gadsden averaged 6.75% for the week of 2024-06-20, compared to the national average of 6.87% for the same period.

The average rate for the prior week (2024-06-13) was 7.03% and one month ago for the week of 2024-05-16, the average rate was 6.8%.

Gadsden's average rate one year ago was 6.47%.

For refis of the same type during the week of 2024-06-20, the average rate was 7.17%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-06-20 6.87%
Gadsden 30 Year Fixed Rate 2024-06-20 6.75%
Gadsden 30 Year Fixed Rate Refi 2024-06-20 7.17%
Gadsden 15 Year Fixed Rate 2024-06-20 6.33%
Gadsden 15 Year Fixed Rate Refi 2024-06-20 6.43%
Gadsden 30 Year FHA 2024-06-20 -0.28%
Gadsden 30 Year FHA Refi 2024-06-20 -0.1%
Gadsden 30 Year USDA 2024-06-20 0%
Gadsden 30 Year USDA Refi 2024-06-20 -0.2%
Gadsden 30 Year VA 2024-06-20 0.26%
Gadsden 30 Year VA Refi 2024-06-20 0%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within GADSDEN, AL.

GADSDEN 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 GADSDEN, 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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 38 6.83% $6,300
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 37 6.77% $4,793
First Federal Bank, A FSB 37 6.63% $6,765
Renasant Bank 30 6.70% $4,571
ALABAMA TEACHERS 28 6.59% $2,789
UNITED WHOLESALE MORTGAGE, LLC 18 6.74% $5,618
SouthPoint Bank 15 6.60% $2,328
MOVEMENT MORTGAGE, LLC 14 6.94% $5,962
Regions Bank 13 6.80% $3,358
GUILD MORTGAGE COMPANY 12 6.97% $6,510
GMFS LLC 11 6.54% $6,020
MORTGAGE INVESTORS GROUP, INC. 11 6.36% $4,028
TJC Mortgage, Inc. 8 7.20% $6,033
Wells Fargo Bank 8 6.95% $4,139
BancorpSouth 7 6.66% $3,711
DHI MORTGAGE COMPANY, LTD. 7 5.30% $2,348
VANDERBILT MORTGAGE AND FINANCE, INC. 6 7.54% $4,932
HUNT MORTGAGE CORPORATION 6 6.71% $4,641
JPMorgan Chase Bank 6 7.21% $3,347
Prosperity Home Mortgage, LLC 5 6.85% $3,882
NAVY FEDERAL CREDIT UNION 5 6.70% $7,810
ACOPIA, LLC 4 7.34% $5,174
Mortgage Research Center, LLC 4 6.97% $3,606
FirstBank 4 7.00% $5,301
REDSTONE Federal Credit Union 4 6.31% $2,824
AMERISAVE MORTGAGE CORPORATION 4 6.63% $5,233
Trustmark National Bank 4 7.06% $6,719
Ameris Bank 4 6.72% $6,498
LOANDEPOT.COM, LLC 3 6.37% $11,794
Truist 3 6.53% $5,089
UNION HOME MORTGAGE CORP. 3 6.75% $5,232
Consumer First Mortgage, Inc. 3 6.71% $4,872
PENNYMAC LOAN SERVICES, LLC 3 6.83% $5,384
MUTUAL OF OMAHA MORTGAGE, INC. 3 7.38% $6,530
ROYAL UNITED MORTGAGE LLC 3 7.13% $6,661
River Bank & Trust 3 7.21% $5,967
STOCKTON MORTGAGE CORPORATION 3 7.13% $7,852
PNC Bank 3 6.67% $3,709
GUARANTEED RATE, INC. 2 6.75% $8,250
Flagstar Bank, FSB 2 6.06% $5,395
HOMESTAR FINANCIAL CORPORATION 2 6.56% $7,800
DAS Acquisition Company, LLC 2 6.31% $3,637
Mr. Cooper ( Nationstar Mortgage ) 2 7.88% $6,521
CARDINAL FINANCIAL 2 6.94% $5,514
Capital City Home Loans, LLC 2 6.94% $5,142
AMERICAN FINANCING CORPORATION 2 7.56% $6,378
ZILLOW HOME LOANS, LLC 1 7.25% $4,031
Alabama One Credit Union 1 6.25% $4,399
AMERICAN FINANCIAL NETWORK, INC. 1 7.13% $3,387
AMERICAN INTERNET MORTGAGE, INC. 1 5.75% $4,233
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.63% $7,340
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.25% $3,989
AmeriHome Mortgage Company, LLC 1 5.38% $6,115
ANGEL OAK MORTGAGE SOLUTIONS LLC 1 7.88% $12,362
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.63% $5,811
BETTER MORTGAGE CORPORATION 1 6.00% $5,623
BROKER SOLUTIONS, INC. 1 7.63% $6,749
Centennial Bank 1 6.63% $4,085
CHEVRON 1 7.38% $3,904
Citadel Servicing Corporation 1 10.25% $20,080
Colonial Savings, F.A. 1 6.50% $8,961
DEEPHAVEN MORTGAGE LLC 1 9.88% $6,534
Discover Bank 1 8.49% $0
Family Security Credit Union 1 5.25% $3,302
Fifth Third Bank 1 8.63% $5,662
FIRST COLONY MORTGAGE CORPORATION 1 7.63% $4,487
First Horizon Bank 1 7.50% $3,107
GUARANTEED RATE AFFINITY, LLC 1 6.93% $0
Heritage South Credit Union 1 6.75% $2,431
HONDA Federal Credit Union 1 6.88% $2,870
INSPIRE HOME LOANS INC. 1 5.75% $3,192
LAKEVIEW LOAN SERVICING, LLC 1 8.13% $6,274
Liberty Mortgage Corporation 1 7.63% $2,483
MILEND, INC. 1 7.38% $7,199
NATIONS RELIABLE LENDING, LLC 1 5.88% $4,946
NBKC BANK 1 6.25% $4,540
NEWREZ LLC 1 6.63% $2,882
Plains Commerce Bank 1 6.75% $8,068
PLANET HOME LENDING, LLC 1 7.63% $3,393
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.63% $4,454
RBC Bank, (Georgia) 1 5.75% $2,160
Stifel Bank and Trust 1 5.75% $2,368
SUCCESS MORTGAGE PARTNERS, INC. 1 6.50% $8,926
SUMMIT FUNDING, INC. 1 5.38% $1,725
THE MORTGAGE FIRM, INC. 1 5.88% $8,258
Union Savings Bank 1 5.88% $2,523
U.S. Bank 1 6.99% $651

GADSDEN Average Closing Costs & Other Stats

GADSDEN, AL's 87 lenders originated 1,746 loans during 2023. The total origination value was $276,570,000, with an average loan value of $158,402.

GADSDEN's average closing costs are $4,446.

The top GADSDEN lender as defined by loan originations is QUICKEN LOANS, LLC, with 38 loans originated. Their average total fees are $6,300, which is $1,507 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee GADSDEN lenders (with over 10 loans originated) are SouthPoint Bank ($2,328), ALABAMA TEACHERS ($2,789), Regions Bank ($3,358), MORTGAGE INVESTORS GROUP, INC. ($4,028) and Renasant Bank ($4,571).

The lowest rate GADSDEN lenders (with over 10 loans originated) are MORTGAGE INVESTORS GROUP, INC. (6.36%), GMFS LLC (6.54%), ALABAMA TEACHERS (6.59%), SouthPoint Bank (6.60%) and First Federal Bank, A FSB (6.63%).

GADSDEN, 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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $35,200,000 $27,615,000 -21.5% 10.0%
QUICKEN LOANS, LLC $20,930,000 $19,135,000 -8.6% 6.9%
First Federal Bank, A FSB $24,500,000 $16,400,000 -33.1% 5.9%
ALABAMA TEACHERS $21,515,000 $15,360,000 -28.6% 5.6%
Renasant Bank $18,505,000 $11,285,000 -39.0% 4.1%
FAMILY SAVINGS $11,180,000 $10,295,000 -7.9% 3.7%
UNITED WHOLESALE MORTGAGE, LLC $7,360,000 $9,715,000 32.0% 3.5%
Regions Bank $16,535,000 $9,295,000 -43.8% 3.4%
Mortgage Research Center, LLC $7,900,000 $8,020,000 1.5% 2.9%
MORTGAGE INVESTORS GROUP, INC. $10,445,000 $7,915,000 -24.2% 2.9%
River Bank & Trust $15,255,000 $7,400,000 -51.5% 2.7%
GUILD MORTGAGE COMPANY $10,970,000 $6,185,000 -43.6% 2.2%
MOVEMENT MORTGAGE, LLC $3,065,000 $5,525,000 80.3% 2.0%
GMFS LLC $3,105,000 $5,410,000 74.2% 2.0%
FirstBank $4,110,000 $4,995,000 21.5% 1.8%
Metro Bank $3,125,000 $4,550,000 45.6% 1.6%
DHI MORTGAGE COMPANY, LTD. $3,795,000 $4,510,000 18.8% 1.6%
Peoples Independent Bank $4,265,000 n/a 1.5%
Liberty Bank $2,230,000 $3,575,000 60.3% 1.3%
The Exchange Bank of Alabama $9,770,000 $3,575,000 -63.4% 1.3%
HUNT MORTGAGE CORPORATION $2,950,000 $3,180,000 7.8% 1.1%
VANDERBILT MORTGAGE AND FINANCE, INC. $2,085,000 $3,150,000 51.1% 1.1%
NAVY FEDERAL CREDIT UNION $3,055,000 $2,820,000 -7.7% 1.0%
SouthPoint Bank $665,000 $2,805,000 321.8% 1.0%
BancorpSouth $2,990,000 $2,665,000 -10.9% 1.0%
PENNYMAC LOAN SERVICES, LLC $6,875,000 $2,665,000 -61.2% 1.0%
TJC Mortgage, Inc. $4,125,000 $2,660,000 -35.5% 1.0%
ACOPIA, LLC $1,225,000 $2,565,000 109.4% 0.9%
STOCKTON MORTGAGE CORPORATION $2,030,000 n/a 0.7%
21ST MORTGAGE CORPORATION $1,275,000 $2,025,000 58.8% 0.7%
NEWREZ LLC $1,275,000 $1,785,000 40.0% 0.6%
LOANDEPOT.COM, LLC $5,805,000 $1,760,000 -69.7% 0.6%
REDSTONE Federal Credit Union $1,540,000 $1,720,000 11.7% 0.6%
Wells Fargo Bank $4,440,000 $1,710,000 -61.5% 0.6%
Ameris Bank $4,220,000 $1,660,000 -60.7% 0.6%
GUARANTEED RATE, INC. $140,000 $1,660,000 1,085.7% 0.6%
AMERISAVE MORTGAGE CORPORATION $1,740,000 $1,460,000 -16.1% 0.5%
JPMorgan Chase Bank $1,145,000 $1,375,000 20.1% 0.5%
Prosperity Home Mortgage, LLC $245,000 $1,350,000 451.0% 0.5%
TRIAD FINANCIAL SERVICES, INC. $645,000 $1,320,000 104.7% 0.5%
UNION HOME MORTGAGE CORP. $135,000 $1,300,000 863.0% 0.5%
SUCCESS MORTGAGE PARTNERS, INC. $910,000 $1,275,000 40.1% 0.5%
Truist $1,980,000 $1,265,000 -36.1% 0.5%
BROKER SOLUTIONS, INC. $1,750,000 $1,255,000 -28.3% 0.5%
MUTUAL OF OMAHA MORTGAGE, INC. $595,000 $1,235,000 107.6% 0.4%
Mr. Cooper ( Nationstar Mortgage ) $2,840,000 $1,195,000 -57.9% 0.4%
Trustmark National Bank $815,000 $1,175,000 44.2% 0.4%
Flagstar Bank, FSB $915,000 $1,150,000 25.7% 0.4%
FREEDOM MORTGAGE CORPORATION $3,125,000 $1,130,000 -63.8% 0.4%
NEW DAY FINANCIAL, LLC $1,195,000 $1,090,000 -8.8% 0.4%
EvaBank $685,000 $1,020,000 48.9% 0.4%
PNC Bank $2,060,000 $940,000 -54.4% 0.3%
HOMESTAR FINANCIAL CORPORATION $1,855,000 $880,000 -52.6% 0.3%
CROSSCOUNTRY MORTGAGE, LLC $765,000 $870,000 13.7% 0.3%
USAA Federal Savings Bank $1,950,000 $845,000 -56.7% 0.3%
HONDA Federal Credit Union $1,110,000 $820,000 -26.1% 0.3%
MILEND, INC. $805,000 n/a 0.3%
DAS Acquisition Company, LLC $675,000 n/a 0.2%
Hamilton Mortgage Corporation $145,000 $660,000 355.2% 0.2%
PLANET HOME LENDING, LLC $655,000 n/a 0.2%
Troy Bank and Trust Company $645,000 n/a 0.2%
Citadel Servicing Corporation $605,000 n/a 0.2%
Discover Bank $255,000 $600,000 135.3% 0.2%
Goldwater Bank, N.A. $4,970,000 $585,000 -88.2% 0.2%
Cornerstone First Mortgage, Inc $580,000 n/a 0.2%
AMERICAN INTERNET MORTGAGE, INC. $555,000 n/a 0.2%
LAKEVIEW LOAN SERVICING, LLC $1,210,000 $545,000 -55.0% 0.2%
Paramount Residential Mortgage Group, Inc. $545,000 n/a 0.2%
ATLANTIC BAY MORTGAGE GROUP, L.L.C. $115,000 $525,000 356.5% 0.2%
Stifel Bank and Trust $525,000 n/a 0.2%
Peoples Bank of Alabama $1,165,000 $505,000 -56.7% 0.2%
INSPIRE HOME LOANS INC. $350,000 $495,000 41.4% 0.2%
THE MORTGAGE FIRM, INC. $790,000 $480,000 -39.2% 0.2%
CARDINAL FINANCIAL $1,220,000 $455,000 -62.7% 0.2%
The Hometown Bank of Alabama $1,595,000 $455,000 -71.5% 0.2%
PENTAGON FEDERAL CREDIT UNION $120,000 $450,000 275.0% 0.2%
United Community Bank $230,000 $435,000 89.1% 0.2%
Plains Commerce Bank $400,000 n/a 0.1%
ANGEL OAK MORTGAGE SOLUTIONS LLC $395,000 n/a 0.1%
Farmers Bank & Trust $395,000 n/a 0.1%
GUARANTEED RATE AFFINITY, LLC $395,000 n/a 0.1%
Ixonia Bank $395,000 n/a 0.1%
Capital City Home Loans, LLC $390,000 n/a 0.1%
United Fidelity Funding Corp. $385,000 n/a 0.1%
Consumer First Mortgage, Inc. $795,000 $375,000 -52.8% 0.1%
First South Farm Credit, ACA $375,000 n/a 0.1%
U.S. Bank $585,000 $375,000 -35.9% 0.1%
FINANCE OF AMERICA REVERSE LLC $370,000 n/a 0.1%
CIS Financial Services, Inc. $135,000 $365,000 170.4% 0.1%
PRIMARY RESIDENTIAL MORTGAGE, INC. $245,000 $365,000 49.0% 0.1%
AMERICAN PORTFOLIO MORTGAGE CORPORATION $360,000 n/a 0.1%
Citizens Bank & Trust $655,000 $360,000 -45.0% 0.1%
EVERETT FINANCIAL, INC. $800,000 $355,000 -55.6% 0.1%
AMERICA'S FIRST $1,070,000 $345,000 -67.8% 0.1%
NATIONWIDE MORTGAGE BANKERS, INC. $345,000 n/a 0.1%
The Loan Store, Inc. $335,000 n/a 0.1%
AMERICAN FINANCING CORPORATION $175,000 $330,000 88.6% 0.1%
Coastal Community Bank $315,000 n/a 0.1%
AMERICAN PACIFIC MORTGAGE CORPORATION $310,000 n/a 0.1%
BAYSHORE MORTGAGE FUNDING, LLC $535,000 $310,000 -42.1% 0.1%
Barrington Bank & Trust Company, N.A. $210,000 $300,000 42.9% 0.1%
BankFirst Financial Services $295,000 n/a 0.1%
CMG MORTGAGE, INC. $775,000 $295,000 -61.9% 0.1%
Union Savings Bank $285,000 n/a 0.1%
University Bank $285,000 n/a 0.1%
ZILLOW HOME LOANS, LLC $480,000 $285,000 -40.6% 0.1%
SUMMIT FUNDING, INC. $280,000 n/a 0.1%
Bank of America $95,000 $275,000 189.5% 0.1%
Family Security Credit Union $170,000 $275,000 61.8% 0.1%
ROYAL UNITED MORTGAGE LLC $245,000 $275,000 12.2% 0.1%
Figure Lending LLC $250,000 n/a 0.1%
COMMUNITYAMERICA $245,000 n/a 0.1%
EMBRACE HOME LOANS, INC. $235,000 n/a 0.1%
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $235,000 n/a 0.1%
Mid-Continent Funding, Inc. $235,000 n/a 0.1%
MORTGAGE SOLUTIONS OF COLORADO, LLC $655,000 $235,000 -64.1% 0.1%
Greenbox Loans, Inc. $230,000 n/a 0.1%
BETTER MORTGAGE CORPORATION $425,000 $225,000 -47.1% 0.1%
RBC Bank, (Georgia) $225,000 n/a 0.1%
NBKC BANK $215,000 n/a 0.1%
Alabama One Credit Union $315,000 $205,000 -34.9% 0.1%
CHEVRON $205,000 n/a 0.1%
First Financial Bank $205,000 n/a 0.1%
Century Mortgage Company DBA Century Lending Company $195,000 n/a 0.1%
Centennial Bank $185,000 n/a 0.1%
LENDINGHOME FUNDING CORPORATION $180,000 n/a 0.1%
Colonial Savings, F.A. $175,000 n/a 0.1%
Equity Prime Mortgage LLC $175,000 n/a 0.1%
FIRST COLONY MORTGAGE CORPORATION $175,000 n/a 0.1%
LEADERONE FINANCIAL CORPORATION $95,000 $175,000 84.2% 0.1%
MID AMERICA MORTGAGE, INC. $115,000 $175,000 52.2% 0.1%
PRIMELENDING, A PLAINSCAPITAL COMPANY $175,000 n/a 0.1%
SOUTHWEST STAGE FUNDING, LLC $195,000 $175,000 -10.3% 0.1%
1ST SIGNATURE LENDING, LLC $165,000 n/a 0.1%
AMERICAN FINANCIAL NETWORK, INC. $165,000 n/a 0.1%
First Horizon Bank $165,000 n/a 0.1%
Liberty Mortgage Corporation $165,000 n/a 0.1%
THE MONEY SOURCE INC. $165,000 n/a 0.1%
A&D Mortgage LLC $155,000 n/a 0.1%
LOANPAL, LLC $155,000 n/a 0.1%
AMWEST FUNDING CORP. $150,000 n/a 0.1%
DEEPHAVEN MORTGAGE LLC $145,000 n/a 0.1%
AmeriHome Mortgage Company, LLC $135,000 n/a 0.0%
First Savings Bank $135,000 n/a 0.0%
Victorian Finance, LLC $135,000 n/a 0.0%
Neighborhood Loans, Inc. $125,000 n/a 0.0%
NFM, INC. $430,000 $125,000 -70.9% 0.0%
PLAZA HOME MORTGAGE, INC. $125,000 n/a 0.0%
APCO EMPLOYEES $730,000 $120,000 -83.6% 0.0%
Bank of England $410,000 $115,000 -72.0% 0.0%
Heritage South Credit Union $115,000 n/a 0.0%
NATIONS RELIABLE LENDING, LLC $115,000 n/a 0.0%
Fifth Third Bank $750,000 $110,000 -85.3% 0.0%
Farmers & Merchants Bank $105,000 n/a 0.0%
TOP FLITE FINANCIAL, INC. $105,000 n/a 0.0%
Carrington Mortgage Services, LLC $655,000 $100,000 -84.7% 0.0%
Bank Independent $95,000 n/a 0.0%
RELIANCE FIRST CAPITAL, LLC $290,000 $95,000 -67.2% 0.0%
SUPERIOR CHOICE $95,000 n/a 0.0%
INTERLINC MORTGAGE SERVICES, LLC $105,000 $75,000 -28.6% 0.0%
PHH Mortgage Corporation $390,000 $65,000 -83.3% 0.0%
Community South Credit Union $55,000 n/a 0.0%
SPRING EQ, LLC $285,000 $55,000 -80.7% 0.0%
Synovus Bank $500,000 $55,000 -89.0% 0.0%
First National Bank of Pulaski $45,000 n/a 0.0%
TOWER $35,000 n/a 0.0%
AVADIAN $135,000 $25,000 -81.5% 0.0%

GADSDEN's top lender by overall market share is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 10.0% market share. In second place, with 6.9%, is QUICKEN LOANS, LLC, having originated $19,135,000 in loans. In third place, with 5.9%, is First Federal Bank, A FSB, having originated $16,400,000 in loans. In fourth place, with 5.6%, is ALABAMA TEACHERS, having originated $15,360,000 in loans. In fifth place, with 4.1%, is Renasant Bank, having originated $11,285,000 in loans.

GADSDEN, AL Average Rent (2023)

Zoom/scroll map to see average rent by zip code. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results.

For additional perspective within a market, below is information regarding the average rents (as defined by HUD) for zip codes within the metro area. Descriptive statistics (average, median) are shown below the table.
Zip Code Metro Studio Apartment Rent 1BR Apartment Rent 2BR Apartment Rent 3BR Apartment Rent 4BR Apartment Rent
35121 Gadsden, AL MSA $690 $740 $850 $1,100 $1,190
35901 Gadsden, AL MSA $500 $640 $750 $950 $1,010
35902 Gadsden, AL MSA $510 $660 $770 $970 $1,030
35903 Gadsden, AL MSA $690 $740 $850 $1,100 $1,190
35904 Gadsden, AL MSA $500 $640 $750 $950 $1,010
35905 Gadsden, AL MSA $510 $630 $740 $940 $1,000
35906 Gadsden, AL MSA $690 $760 $890 $1,130 $1,200
35907 Gadsden, AL MSA $680 $870 $1,020 $1,290 $1,370
35952 Gadsden, AL MSA $690 $740 $850 $1,100 $1,190
35954 Gadsden, AL MSA $500 $630 $740 $940 $990
35956 Gadsden, AL MSA $500 $640 $750 $950 $1,010
35957 Gadsden, AL MSA $690 $740 $850 $1,100 $1,190
35961 Gadsden, AL MSA $500 $630 $740 $940 $990
35972 Gadsden, AL MSA $690 $740 $850 $1,100 $1,190
35990 Gadsden, AL MSA $540 $640 $740 $940 $1,010
36271 Gadsden, AL MSA $590 $590 $780 $1,060 $1,150
36272 Gadsden, AL MSA $550 $570 $740 $1,000 $1,080

2022 Average & Median Rent Data Statistics
GADSDEN, AL average 1BR rent: $682, median: $640
GADSDEN, AL average 2BR rent: $804, median: $770
GADSDEN, AL average 3BR rent: $1,033, median: $1,000

GADSDEN, AL Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 988 $196,150,000 $198,532
Other 272 $16,300,000 $59,926
Cash Out Refi 183 $29,365,000 $160,464
Refi 176 $26,330,000 $149,602
Home Improvement 127 $8,425,000 $66,339

Gadsden's most frequently cited loan purpose was Home Purchase, with 988 originations. The 2nd most popular reason was Other, with 272 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 609 $112,725,000 $185,099
Over 8% 376 $29,200,000 $77,660
7-8% 373 $56,625,000 $151,810
5-6% 231 $50,815,000 $219,978
4-5% 32 $6,150,000 $192,188
<2.5% 6 $880,000 $146,667
3-4% 6 $1,380,000 $230,000

During 2023, Gadsden's most frequently originated rate bucket was 6-7%, with 609 originations.

Loan Sizing (GADSDEN, AL MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 680 $36,630,000 $53,868
$100k-200k 556 $80,800,000 $145,324
$200k-400k 440 $117,140,000 $266,227
$400k-600k 49 $23,585,000 $481,327
$600k-1000k 17 $11,685,000 $687,353
$Over $1MM 4 $6,730,000 $1,682,500

GADSDEN's loan sizing saw the bucket of loans from $100,000 or less with 680 originations, totaling $36,630,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 755 $154,235,000 $204,285
60-80% 290 $55,000,000 $189,655
Under 20% 224 $7,930,000 $35,402
20-40% 201 $15,225,000 $75,746
40-60% 137 $19,595,000 $143,029
Over 100% 21 $4,945,000 $235,476

GADSDEN's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 755 originations, totaling $154,235,000 in origination value.