Gillette Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Gillette averaged
6.82%
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
6.55% and
one month ago for the week of 2024-10-03, the
average rate was 5.95%.
Gillette's average rate one year ago was 7.79%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.19%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Gillette 30 Year Fixed Rate | 2024-11-07 | 6.82% |
| Gillette 30 Year Fixed Rate Refi | 2024-11-07 | 7.19% |
| Gillette 15 Year Fixed Rate | 2024-11-07 | 6.2% |
| Gillette 15 Year Fixed Rate Refi | 2024-11-07 | 6.3% |
| Gillette 30 Year FHA | 2024-11-07 | 6.26% |
| Gillette 30 Year FHA Refi | 2024-11-07 | 6.23% |
| Gillette 30 Year USDA | 2024-11-07 | 6.48% |
| Gillette 30 Year USDA Refi | 2024-11-07 | 6.28% |
| Gillette 30 Year VA | 2024-11-07 | 6.44% |
| Gillette 30 Year VA Refi | 2024-11-07 | 6.54% |
Gillette 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 Gillette, WY 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.).
Gillette Average Closing Costs & Other Stats
Gillette, WY's 50 lenders originated 734
loans during 2023. The total origination value was $167,350,000, with an average loan value of
$227,997.
Gillette's average closing costs are $6,013.
The top Gillette lender as defined by loan originations is BAY EQUITY LLC, with
46 loans originated. Their average total fees are
$5,726, which is $3,490
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Gillette lenders (with over 10 loans originated) are
Unify Home Lending Inc. ($3,553), Pinnacle Bank - Wyoming ($3,607), BAY EQUITY LLC ($5,726), UNITED WHOLESALE MORTGAGE, LLC ($6,456) and QUICKEN LOANS, LLC ($9,216).
The lowest rate Gillette lenders (with over 10 loans originated) are
Unify Home Lending Inc. (6.27%), QUICKEN LOANS, LLC (6.59%), BAY EQUITY LLC (6.66%), UNITED WHOLESALE MORTGAGE, LLC (6.93%) and Pinnacle Bank - Wyoming (7.60%).
Gillette, WY 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 |
|---|---|---|---|---|
| BAY EQUITY LLC | $58,955,000 | $37,040,000 | -37.2% | 22.1% |
| UNITED WHOLESALE MORTGAGE, LLC | $11,180,000 | $16,790,000 | 50.2% | 10.0% |
| QUICKEN LOANS, LLC | $18,885,000 | $14,945,000 | -20.9% | 8.9% |
| Pinnacle Bank - Wyoming | $22,535,000 | $13,110,000 | -41.8% | 7.8% |
| Unify Home Lending Inc. | $13,895,000 | $8,965,000 | -35.5% | 5.4% |
| HIGHMARK | $1,555,000 | $4,990,000 | 220.9% | 3.0% |
| CARDINAL FINANCIAL | $15,375,000 | $4,755,000 | -69.1% | 2.8% |
| First Interstate Bank | $16,205,000 | $3,910,000 | -75.9% | 2.3% |
| Gateway First Bank | $6,060,000 | $3,145,000 | -48.1% | 1.9% |
| U.S. Bank | $3,610,000 | $3,065,000 | -15.1% | 1.8% |
| Mortgage Research Center, LLC | $6,250,000 | $2,890,000 | -53.8% | 1.7% |
| Plains Commerce Bank | $820,000 | $2,650,000 | 223.2% | 1.6% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $420,000 | $2,145,000 | 410.7% | 1.3% |
| FREEDOM MORTGAGE CORPORATION | $2,730,000 | $2,125,000 | -22.2% | 1.3% |
| CMG MORTGAGE, INC. | $1,750,000 | $1,855,000 | 6.0% | 1.1% |
| MEMBER FIRST MORTGAGE, LLC | $1,725,000 | n/a | 1.0% | |
| USAA Federal Savings Bank | $705,000 | $1,385,000 | 96.5% | 0.8% |
| PENNYMAC LOAN SERVICES, LLC | $1,710,000 | $1,310,000 | -23.4% | 0.8% |
| Pioneer Bank & Trust | $520,000 | $1,305,000 | 151.0% | 0.8% |
| NEWREZ LLC | $1,115,000 | $1,285,000 | 15.2% | 0.8% |
| LOANDEPOT.COM, LLC | $840,000 | $1,220,000 | 45.2% | 0.7% |
| Wells Fargo Bank | $4,605,000 | $1,210,000 | -73.7% | 0.7% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,240,000 | $1,190,000 | -4.0% | 0.7% |
| Wallick & Volk, Inc. | $1,135,000 | $1,190,000 | 4.8% | 0.7% |
| RELIANCE FIRST CAPITAL, LLC | $1,160,000 | n/a | 0.7% | |
| AXIA FINANCIAL, LLC | $565,000 | $1,135,000 | 100.9% | 0.7% |
| BROKER SOLUTIONS, INC. | $1,745,000 | $1,110,000 | -36.4% | 0.7% |
| Farm Credit Mid-America, ACA | $4,695,000 | $995,000 | -78.8% | 0.6% |
| Carrington Mortgage Services, LLC | $1,450,000 | $955,000 | -34.1% | 0.6% |
| Equity Prime Mortgage LLC | $940,000 | n/a | 0.6% | |
| Jonah Bank of Wyoming | $850,000 | $930,000 | 9.4% | 0.6% |
| PLAZA HOME MORTGAGE, INC. | $1,045,000 | $870,000 | -16.7% | 0.5% |
| UNION HOME MORTGAGE CORP. | $860,000 | n/a | 0.5% | |
| GUILD MORTGAGE COMPANY | $1,150,000 | $825,000 | -28.3% | 0.5% |
| The Federal Savings Bank | $580,000 | $795,000 | 37.1% | 0.5% |
| ANB Bank | $1,530,000 | $790,000 | -48.4% | 0.5% |
| NATIONWIDE MORTGAGE BANKERS, INC. | $790,000 | n/a | 0.5% | |
| Glacier Bank | $10,965,000 | $780,000 | -92.9% | 0.5% |
| CROSSCOUNTRY MORTGAGE, LLC | $175,000 | $755,000 | 331.4% | 0.5% |
| TRIAD FINANCIAL SERVICES, INC. | $360,000 | $680,000 | 88.9% | 0.4% |
| BLACK HILLS FEDERAL CREDIT UNION | $1,965,000 | $660,000 | -66.4% | 0.4% |
| NBKC BANK | $215,000 | $660,000 | 207.0% | 0.4% |
| Ixonia Bank | $630,000 | n/a | 0.4% | |
| FirstBank | $560,000 | n/a | 0.3% | |
| AMERISAVE MORTGAGE CORPORATION | $1,535,000 | $550,000 | -64.2% | 0.3% |
| LAKEVIEW LOAN SERVICING, LLC | $770,000 | $545,000 | -29.2% | 0.3% |
| BANKWEST, INC. | $480,000 | $535,000 | 11.5% | 0.3% |
| UBS Bank USA | $525,000 | n/a | 0.3% | |
| Flagstar Bank, FSB | $1,820,000 | $520,000 | -71.4% | 0.3% |
| MOVEMENT MORTGAGE, LLC | $3,225,000 | $505,000 | -84.3% | 0.3% |
| Mid-Continent Funding, Inc. | $205,000 | $485,000 | 136.6% | 0.3% |
| AMERICAN FINANCIAL NETWORK, INC. | $480,000 | n/a | 0.3% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $490,000 | $430,000 | -12.2% | 0.3% |
| Bank of Colorado | $710,000 | $425,000 | -40.1% | 0.3% |
| ACADEMY MORTGAGE CORPORATION | $520,000 | $415,000 | -20.2% | 0.2% |
| Mr. Cooper ( Nationstar Mortgage ) | $1,650,000 | $395,000 | -76.1% | 0.2% |
| INTERCAP LENDING INC. | $385,000 | n/a | 0.2% | |
| Magnolia Bank | $185,000 | $375,000 | 102.7% | 0.2% |
| Commerce Bank | $365,000 | n/a | 0.2% | |
| MOUNTAIN AMERICA | $35,000 | $365,000 | 942.9% | 0.2% |
| IDAHO CENTRAL | $355,000 | n/a | 0.2% | |
| American Bank & Trust | $345,000 | n/a | 0.2% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $1,370,000 | $340,000 | -75.2% | 0.2% |
| Hilltop National Bank | $355,000 | $325,000 | -8.5% | 0.2% |
| The Huntington National Bank | $635,000 | $325,000 | -48.8% | 0.2% |
| Figure Lending LLC | $290,000 | $320,000 | 10.3% | 0.2% |
| BMO Harris Bank | $315,000 | n/a | 0.2% | |
| FirsTier Bank | $315,000 | n/a | 0.2% | |
| Black Hills Community Bank | $295,000 | n/a | 0.2% | |
| NAVY FEDERAL CREDIT UNION | $1,450,000 | $290,000 | -80.0% | 0.2% |
| Commerce Home Mortgage, Inc. | $285,000 | n/a | 0.2% | |
| Barrington Bank & Trust Company, N.A. | $265,000 | n/a | 0.2% | |
| FUNDLOANS CAPITAL | $265,000 | n/a | 0.2% | |
| WYHY | $205,000 | $260,000 | 26.8% | 0.2% |
| DIRECT MORTGAGE, CORP. | $255,000 | n/a | 0.2% | |
| HOMESTAR FINANCIAL CORPORATION | $510,000 | $255,000 | -50.0% | 0.2% |
| Security First Bank | $645,000 | $255,000 | -60.5% | 0.2% |
| Great Plains National Bank | $245,000 | n/a | 0.1% | |
| NEW DAY FINANCIAL, LLC | $975,000 | $235,000 | -75.9% | 0.1% |
| UNIVERSAL LENDING CORPORATION | $205,000 | $235,000 | 14.6% | 0.1% |
| NEXERA HOLDING LLC | $155,000 | $225,000 | 45.2% | 0.1% |
| EVERETT FINANCIAL, INC. | $215,000 | n/a | 0.1% | |
| Nations Lending Corporation | $755,000 | $215,000 | -71.5% | 0.1% |
| GUARANTEED RATE, INC. | $955,000 | $205,000 | -78.5% | 0.1% |
| 21ST MORTGAGE CORPORATION | $95,000 | $190,000 | 100.0% | 0.1% |
| SUMMIT FUNDING, INC. | $1,050,000 | $185,000 | -82.4% | 0.1% |
| Ally Bank | $175,000 | n/a | 0.1% | |
| Discover Bank | $540,000 | $155,000 | -71.3% | 0.1% |
| WINGS FINANCIAL | $155,000 | n/a | 0.1% | |
| CHURCHILL MORTGAGE CORPORATION | $320,000 | $145,000 | -54.7% | 0.1% |
| Utah Power | $370,000 | $145,000 | -60.8% | 0.1% |
| Meridian Trust Federal Credit Union | $100,000 | n/a | 0.1% | |
| ASHLAND Credit Union | $85,000 | n/a | 0.1% | |
| JPMorgan Chase Bank | $1,035,000 | $85,000 | -91.8% | 0.1% |
| Coastal Community Bank | $80,000 | n/a | 0.0% | |
| PLANET HOME LENDING, LLC | $615,000 | $55,000 | -91.1% | 0.0% |
| CITIZENS EQUITY FIRST | $45,000 | n/a | 0.0% | |
| KeyBank | $990,000 | $45,000 | -95.5% | 0.0% |
Gillette's top lender by overall market share is BAY EQUITY LLC, with 22.1% market share. In second place, with 10.0%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $16,790,000 in loans. In third place, with 8.9%, is QUICKEN LOANS, LLC, having originated $14,945,000 in loans. In fourth place, with 7.8%, is Pinnacle Bank - Wyoming, having originated $13,110,000 in loans. In fifth place, with 5.4%, is Unify Home Lending Inc., having originated $8,965,000 in loans.
Gillette, WY Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 508 | $123,710,000 | $243,524 |
| Cash Out Refi | 112 | $24,350,000 | $217,411 |
| Refi | 54 | $14,580,000 | $270,000 |
| Other | 31 | $2,545,000 | $82,097 |
| Home Improvement | 29 | $2,165,000 | $74,655 |
Gillette's most frequently cited loan purpose was Home Purchase, with 508 originations. The 2nd most popular reason was Cash Out Refi, with 112 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 290 | $77,930,000 | $268,724 |
| 5-6% | 155 | $33,695,000 | $217,387 |
| 7-8% | 140 | $32,640,000 | $233,143 |
| Over 8% | 105 | $14,125,000 | $134,524 |
| <2.5% | 18 | $390,000 | $21,667 |
| 4-5% | 2 | $580,000 | $290,000 |
| 3-4% | 1 | $145,000 | $145,000 |
| 2.5-3% | 1 | $485,000 | $485,000 |
During 2023, Gillette's most frequently originated rate bucket was 6-7%, with 290 originations.
Loan Sizing (Gillette, WY MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 349 | $96,655,000 | $276,948 |
| $100k-200k | 184 | $29,440,000 | $160,000 |
| $100,000 or less | 132 | $6,160,000 | $46,667 |
| $400k-600k | 58 | $26,890,000 | $463,621 |
| $600k-1000k | 10 | $7,080,000 | $708,000 |
| $Over $1MM | 1 | $1,125,000 | $1,125,000 |
Gillette's loan sizing saw the bucket of loans from $200k-400k with 349 originations, totaling $96,655,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 381 | $102,555,000 | $269,173 |
| 60-80% | 148 | $37,520,000 | $253,514 |
| Under 20% | 80 | $3,450,000 | $43,125 |
| 40-60% | 43 | $8,345,000 | $194,070 |
| 20-40% | 40 | $4,530,000 | $113,250 |
| Over 100% | 11 | $2,855,000 | $259,545 |
Gillette's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 381 originations, totaling $102,555,000 in origination value.