Gaffney Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Gaffney averaged
6.69%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.72% and
one month ago for the week of 2024-10-03, the
average rate was 6.02%.
Gaffney's average rate one year ago was 7.36%.
For refis of the same type during the week of 2024-11-07, the average rate
was 6.79%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Gaffney 30 Year Fixed Rate | 2024-11-07 | 6.69% |
| Gaffney 30 Year Fixed Rate Refi | 2024-11-07 | 6.79% |
| Gaffney 15 Year Fixed Rate | 2024-11-07 | 6.1% |
| Gaffney 15 Year Fixed Rate Refi | 2024-11-07 | 5.9% |
| Gaffney 30 Year FHA | 2024-11-07 | 6.45% |
| Gaffney 30 Year FHA Refi | 2024-11-07 | 6.63% |
| Gaffney 30 Year USDA | 2024-11-07 | 6.58% |
| Gaffney 30 Year USDA Refi | 2024-11-07 | 6.28% |
| Gaffney 30 Year VA | 2024-11-07 | 6.27% |
| Gaffney 30 Year VA Refi | 2024-11-07 | 6.14% |
Gaffney 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 Gaffney, SC 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.).
Gaffney Average Closing Costs & Other Stats
Gaffney, SC's 77 lenders originated 994
loans during 2023. The total origination value was $186,750,000, with an average loan value of
$187,877.
Gaffney's average closing costs are $5,214.
The top Gaffney lender as defined by loan originations is First Piedmont Federal Savings and Loan Association of Gaffney, with
50 loans originated. Their average total fees are
$5,319, which is $1,873
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Gaffney lenders (with over 10 loans originated) are
FOUNDERS FEDERAL CREDIT UNION ($2,997), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($3,239), First Piedmont Federal Savings and Loan Association of Gaffney ($5,319), PRIMELENDING, A PLAINSCAPITAL COMPANY ($6,883) and Sierra Pacific Mortgage Company, Inc. ($7,157).
The lowest rate Gaffney lenders (with over 10 loans originated) are
First Piedmont Federal Savings and Loan Association of Gaffney (5.86%), Sierra Pacific Mortgage Company, Inc. (6.43%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (6.69%), UNITED WHOLESALE MORTGAGE, LLC (6.80%) and PRIMELENDING, A PLAINSCAPITAL COMPANY (6.84%).
Gaffney, SC 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 |
|---|---|---|---|---|
| First Piedmont Federal Savings and Loan Association of Gaffney | $19,855,000 | $23,600,000 | 18.9% | 12.6% |
| QUICKEN LOANS, LLC | $12,365,000 | $12,475,000 | 0.9% | 6.7% |
| INSPIRE HOME LOANS INC. | $10,100,000 | n/a | 5.4% | |
| UNITED WHOLESALE MORTGAGE, LLC | $3,435,000 | $7,125,000 | 107.4% | 3.8% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $6,705,000 | $6,665,000 | -0.6% | 3.6% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $3,695,000 | $6,370,000 | 72.4% | 3.4% |
| CBRE MULTIFAMILY CAPITAL, INC. | $5,555,000 | n/a | 3.0% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $4,890,000 | $5,330,000 | 9.0% | 2.9% |
| FOUNDERS FEDERAL CREDIT UNION | $8,020,000 | $5,140,000 | -35.9% | 2.8% |
| Sierra Pacific Mortgage Company, Inc. | $3,860,000 | $5,085,000 | 31.7% | 2.7% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $6,275,000 | $4,635,000 | -26.1% | 2.5% |
| MOVEMENT MORTGAGE, LLC | $6,535,000 | $4,605,000 | -29.5% | 2.5% |
| Mortgage Research Center, LLC | $4,635,000 | $4,295,000 | -7.3% | 2.3% |
| Arbor Realty Trust, Inc. | $3,935,000 | n/a | 2.1% | |
| GUILD MORTGAGE COMPANY | $5,390,000 | $3,705,000 | -31.3% | 2.0% |
| CROSSCOUNTRY MORTGAGE, LLC | $1,590,000 | $2,830,000 | 78.0% | 1.5% |
| Prudential Huntoon Paige Associates, LLC | $2,165,000 | $2,685,000 | 24.0% | 1.4% |
| CARDINAL FINANCIAL | $2,785,000 | $2,345,000 | -15.8% | 1.3% |
| MIDLAND MORTGAGE CORPORATION | $4,605,000 | $2,255,000 | -51.0% | 1.2% |
| 21ST MORTGAGE CORPORATION | $1,555,000 | $2,105,000 | 35.4% | 1.1% |
| STATE EMPLOYEES' | $2,655,000 | $2,090,000 | -21.3% | 1.1% |
| United Community Bank | $2,140,000 | $2,055,000 | -4.0% | 1.1% |
| First-Citizens Bank & Trust Company | $1,615,000 | $1,840,000 | 13.9% | 1.0% |
| Ameris Bank | $430,000 | $1,800,000 | 318.6% | 1.0% |
| PENNYMAC LOAN SERVICES, LLC | $1,450,000 | $1,755,000 | 21.0% | 0.9% |
| United Bank | $175,000 | $1,570,000 | 797.1% | 0.8% |
| NAVY FEDERAL CREDIT UNION | $1,040,000 | $1,515,000 | 45.7% | 0.8% |
| HOMESTAR FINANCIAL CORPORATION | $705,000 | $1,475,000 | 109.2% | 0.8% |
| Wells Fargo Bank | $2,910,000 | $1,395,000 | -52.1% | 0.7% |
| Truist | $1,640,000 | $1,375,000 | -16.2% | 0.7% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $135,000 | $1,350,000 | 900.0% | 0.7% |
| South State Bank | $1,055,000 | $1,325,000 | 25.6% | 0.7% |
| Paramount Residential Mortgage Group, Inc. | $125,000 | $1,255,000 | 904.0% | 0.7% |
| The Fidelity Bank | $315,000 | $1,205,000 | 282.5% | 0.6% |
| BROKER SOLUTIONS, INC. | $2,710,000 | $1,110,000 | -59.0% | 0.6% |
| Flagstar Bank, FSB | $920,000 | $1,100,000 | 19.6% | 0.6% |
| NEWREZ LLC | $575,000 | $1,005,000 | 74.8% | 0.5% |
| First National Bank of Pennsylvania | $1,565,000 | $990,000 | -36.7% | 0.5% |
| Mr. Cooper ( Nationstar Mortgage ) | $1,380,000 | $960,000 | -30.4% | 0.5% |
| FREEDOM MORTGAGE CORPORATION | $2,150,000 | $955,000 | -55.6% | 0.5% |
| First Community Bank | $185,000 | $940,000 | 408.1% | 0.5% |
| First Federal Bank | $905,000 | $930,000 | 2.8% | 0.5% |
| LOCAL GOVERNMENT FEDERAL CREDIT UNION | $385,000 | $915,000 | 137.7% | 0.5% |
| NEW DAY FINANCIAL, LLC | $215,000 | $905,000 | 320.9% | 0.5% |
| Arthur State Bank | $330,000 | $830,000 | 151.5% | 0.4% |
| Bank of America | $2,260,000 | $825,000 | -63.5% | 0.4% |
| LOANDEPOT.COM, LLC | $2,925,000 | $810,000 | -72.3% | 0.4% |
| ON Q FINANCIAL, INC. | $1,295,000 | $715,000 | -44.8% | 0.4% |
| Truliant Federal Credit Union | $690,000 | $690,000 | 0.0% | 0.4% |
| INTERCOASTAL MORTGAGE COMPANY | $510,000 | $660,000 | 29.4% | 0.4% |
| GUARANTEED RATE, INC. | $520,000 | $655,000 | 26.0% | 0.4% |
| AMERICAN FINANCIAL RESOURCES, INC. | $280,000 | $650,000 | 132.1% | 0.3% |
| GSF Mortgage Corporation | $645,000 | n/a | 0.3% | |
| American Security Mortgage Corp. | $285,000 | $630,000 | 121.1% | 0.3% |
| SOUTH CAROLINA FEDERAL CREDIT UNION | $1,580,000 | $620,000 | -60.8% | 0.3% |
| 1ST SIGNATURE LENDING, LLC | $615,000 | n/a | 0.3% | |
| CAROLINA FOOTHILLS | $265,000 | $585,000 | 120.8% | 0.3% |
| ROYAL UNITED MORTGAGE LLC | $170,000 | $580,000 | 241.2% | 0.3% |
| Renasant Bank | $830,000 | $540,000 | -34.9% | 0.3% |
| RESOURCE FINANCIAL SERVICES, INC. | $280,000 | $505,000 | 80.4% | 0.3% |
| RELIANCE FIRST CAPITAL, LLC | $230,000 | $500,000 | 117.4% | 0.3% |
| ZILLOW HOME LOANS, LLC | $235,000 | $500,000 | 112.8% | 0.3% |
| Fifth Third Bank | $105,000 | $495,000 | 371.4% | 0.3% |
| HomeTrust Bank | $840,000 | $495,000 | -41.1% | 0.3% |
| Dollar Bank, Federal Savings Bank | $370,000 | $475,000 | 28.4% | 0.3% |
| Kwik Mortgage Corporation | $465,000 | n/a | 0.2% | |
| Blue Ridge Bank | $295,000 | $460,000 | 55.9% | 0.2% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $155,000 | $440,000 | 183.9% | 0.2% |
| MID AMERICA MORTGAGE, INC. | $165,000 | $430,000 | 160.6% | 0.2% |
| Carrington Mortgage Services, LLC | $340,000 | $420,000 | 23.5% | 0.2% |
| Presidential Bank, FSB | $420,000 | n/a | 0.2% | |
| CALCON MUTUAL MORTGAGE LLC | $415,000 | n/a | 0.2% | |
| PNC Bank | $465,000 | $405,000 | -12.9% | 0.2% |
| Southern First Bank | $780,000 | $405,000 | -48.1% | 0.2% |
| CHARLOTTE METRO FEDERAL CREDIT UNION | $400,000 | n/a | 0.2% | |
| CHURCHILL MORTGAGE CORPORATION | $175,000 | $400,000 | 128.6% | 0.2% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $510,000 | $400,000 | -21.6% | 0.2% |
| CPM Federal Credit Union | $125,000 | $365,000 | 192.0% | 0.2% |
| AMERICAN FINANCIAL NETWORK, INC. | $360,000 | n/a | 0.2% | |
| JPMorgan Chase Bank | $505,000 | $345,000 | -31.7% | 0.2% |
| VILLAGE CAPITAL MORTGAGE | $85,000 | $340,000 | 300.0% | 0.2% |
| Evolve Bank & Trust | $315,000 | n/a | 0.2% | |
| GREENVILLE FEDERAL CREDIT UNION | $155,000 | $305,000 | 96.8% | 0.2% |
| Regions Bank | $300,000 | n/a | 0.2% | |
| U.S. Bank | $300,000 | n/a | 0.2% | |
| HOWARD HANNA FINANCIAL SERVICES, INC. | $295,000 | n/a | 0.2% | |
| SOUTHWEST STAGE FUNDING, LLC | $905,000 | $295,000 | -67.4% | 0.2% |
| LENDINGHOME FUNDING CORPORATION | $150,000 | $290,000 | 93.3% | 0.2% |
| First Reliance Bank | $630,000 | $280,000 | -55.6% | 0.1% |
| HOMEOWNERS FINANCIAL GROUP USA, LLC | $285,000 | $275,000 | -3.5% | 0.1% |
| MICHIGAN MUTUAL, INC. | $275,000 | n/a | 0.1% | |
| Countybank | $440,000 | $265,000 | -39.8% | 0.1% |
| NP, Inc. | $265,000 | n/a | 0.1% | |
| AgFirst Farm Credit Bank | $940,000 | $245,000 | -73.9% | 0.1% |
| The Federal Savings Bank | $245,000 | n/a | 0.1% | |
| First Savings Bank | $240,000 | n/a | 0.1% | |
| Barrington Bank & Trust Company, N.A. | $235,000 | n/a | 0.1% | |
| CLIFFCO, INC. | $235,000 | n/a | 0.1% | |
| The Park National Bank | $785,000 | $235,000 | -70.1% | 0.1% |
| ACOPIA, LLC | $230,000 | n/a | 0.1% | |
| S. C. STATE FEDERAL CREDIT UNION | $80,000 | $230,000 | 187.5% | 0.1% |
| Sandy Spring Bank | $225,000 | n/a | 0.1% | |
| SUCCESS MORTGAGE PARTNERS, INC. | $65,000 | $220,000 | 238.5% | 0.1% |
| FINANCE OF AMERICA REVERSE LLC | $340,000 | $215,000 | -36.8% | 0.1% |
| Shamrock Home Loans, Inc. | $215,000 | n/a | 0.1% | |
| Neighborhood Loans, Inc. | $210,000 | n/a | 0.1% | |
| Equity Prime Mortgage LLC | $2,715,000 | $205,000 | -92.4% | 0.1% |
| HOMESPIRE MORTGAGE CORPORATION | $205,000 | n/a | 0.1% | |
| North American Savings Bank, F.S.B. | $400,000 | $205,000 | -48.8% | 0.1% |
| HOMESIDE FINANCIAL, LLC | $330,000 | $195,000 | -40.9% | 0.1% |
| Plains Commerce Bank | $195,000 | n/a | 0.1% | |
| SELF-HELP Credit Union | $195,000 | n/a | 0.1% | |
| AMERISAVE MORTGAGE CORPORATION | $2,515,000 | $185,000 | -92.6% | 0.1% |
| Bank of England | $175,000 | $185,000 | 5.7% | 0.1% |
| Southern Bank | $705,000 | $185,000 | -73.8% | 0.1% |
| SUN WEST MORTGAGE COMPANY, INC. | $405,000 | $185,000 | -54.3% | 0.1% |
| TOP FLITE FINANCIAL, INC. | $185,000 | n/a | 0.1% | |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $1,060,000 | $175,000 | -83.5% | 0.1% |
| MLD MORTGAGE INC. | $175,000 | n/a | 0.1% | |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $175,000 | n/a | 0.1% | |
| Ukrainian Federal Credit Union | $175,000 | n/a | 0.1% | |
| Vellum Mortgage, Inc. | $175,000 | n/a | 0.1% | |
| Abbott Laboratories Employees Credit Union | $165,000 | n/a | 0.1% | |
| EVERETT FINANCIAL, INC. | $265,000 | $165,000 | -37.7% | 0.1% |
| Nations Lending Corporation | $1,070,000 | $165,000 | -84.6% | 0.1% |
| SUMMIT FUNDING, INC. | $165,000 | n/a | 0.1% | |
| Family Trust Federal Credit Union | $160,000 | n/a | 0.1% | |
| First Horizon Bank | $155,000 | n/a | 0.1% | |
| THRIVE MORTGAGE, LLC | $155,000 | n/a | 0.1% | |
| TRIAD FINANCIAL SERVICES, INC. | $195,000 | $155,000 | -20.5% | 0.1% |
| S. C. TELCO | $80,000 | $150,000 | 87.5% | 0.1% |
| CAPITAL CENTER, L.L.C. | $225,000 | $145,000 | -35.6% | 0.1% |
| CMG MORTGAGE, INC. | $145,000 | n/a | 0.1% | |
| TOTAL MORTGAGE SERVICES, LLC | $145,000 | n/a | 0.1% | |
| CANOPY MORTGAGE, LLC | $135,000 | n/a | 0.1% | |
| Coastal Carolina National Bank | $385,000 | $135,000 | -64.9% | 0.1% |
| Northpointe Bank | $135,000 | n/a | 0.1% | |
| Synovus Bank | $135,000 | n/a | 0.1% | |
| Discover Bank | $130,000 | $130,000 | 0.0% | 0.1% |
| Advisors Mortgage Group, L.L.C. | $125,000 | n/a | 0.1% | |
| PLAZA HOME MORTGAGE, INC. | $125,000 | n/a | 0.1% | |
| Deere Employees Credit Union | $75,000 | $115,000 | 53.3% | 0.1% |
| LIMA ONE CAPITAL, LLC | $395,000 | $115,000 | -70.9% | 0.1% |
| UNION HOME MORTGAGE CORP. | $115,000 | n/a | 0.1% | |
| DOMINION FINANCIAL SERVICES, LLC | $105,000 | n/a | 0.1% | |
| RADIUS FINANCIAL GROUP INC. | $105,000 | n/a | 0.1% | |
| TOWER | $105,000 | n/a | 0.1% | |
| Woodruff Federal Savings and Loan Association | $105,000 | n/a | 0.1% | |
| LOANPAL, LLC | $95,000 | n/a | 0.1% | |
| Figure Lending LLC | $80,000 | n/a | 0.0% | |
| Bank OZK | $65,000 | n/a | 0.0% | |
| SAFE FEDERAL CREDIT UNION | $65,000 | n/a | 0.0% | |
| Liberty Savings Bank, F.S.B. | $55,000 | n/a | 0.0% | |
| TD Bank | $55,000 | n/a | 0.0% | |
| American Airlines Federal Credit Union | $45,000 | n/a | 0.0% | |
| Pinnacle Bank | $45,000 | n/a | 0.0% | |
| COASTAL Federal Credit Union | $35,000 | n/a | 0.0% |
Gaffney's top lender by overall market share is First Piedmont Federal Savings and Loan Association of Gaffney, with 12.6% market share. In second place, with 6.7%, is QUICKEN LOANS, LLC, having originated $12,475,000 in loans. In third place, with 5.4%, is INSPIRE HOME LOANS INC., having originated $10,100,000 in loans. In fourth place, with 3.8%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $7,125,000 in loans. In fifth place, with 3.6%, is PRIMELENDING, A PLAINSCAPITAL COMPANY, having originated $6,665,000 in loans.
Gaffney, SC Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 648 | $133,660,000 | $206,265 |
| Other | 126 | $10,750,000 | $85,317 |
| Cash Out Refi | 123 | $26,805,000 | $217,927 |
| Refi | 51 | $12,175,000 | $238,725 |
| Home Improvement | 46 | $3,360,000 | $73,043 |
Gaffney's most frequently cited loan purpose was Home Purchase, with 648 originations. The 2nd most popular reason was Other, with 126 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 344 | $71,860,000 | $208,895 |
| 5-6% | 237 | $48,565,000 | $204,916 |
| 7-8% | 224 | $47,440,000 | $211,786 |
| Over 8% | 142 | $14,880,000 | $104,789 |
| <2.5% | 18 | $110,000 | $6,111 |
| 4-5% | 16 | $2,900,000 | $181,250 |
| 3-4% | 1 | $35,000 | $35,000 |
During 2023, Gaffney's most frequently originated rate bucket was 6-7%, with 344 originations.
Loan Sizing (Gaffney, SC MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 352 | $52,630,000 | $149,517 |
| $200k-400k | 350 | $91,980,000 | $262,800 |
| $100,000 or less | 260 | $14,690,000 | $56,500 |
| $400k-600k | 24 | $10,700,000 | $445,833 |
| $Over $1MM | 5 | $14,845,000 | $2,969,000 |
| $600k-1000k | 3 | $1,905,000 | $635,000 |
Gaffney's loan sizing saw the bucket of loans from $100k-200k with 352 originations, totaling $52,630,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 487 | $108,455,000 | $222,700 |
| 60-80% | 169 | $41,905,000 | $247,959 |
| 20-40% | 108 | $9,030,000 | $83,611 |
| Under 20% | 104 | $6,580,000 | $63,269 |
| 40-60% | 93 | $14,345,000 | $154,247 |
| Over 100% | 24 | $5,400,000 | $225,000 |
Gaffney's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 487 originations, totaling $108,455,000 in origination value.