Great Bend Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Great Bend averaged
7.23%
for the week of 2023-12-07, compared to the national average of
7.03% for the same period.
The average rate for the prior week (2023-11-30) was
7.02% and
one month ago for the week of 2023-11-02, the
average rate was 7.56%.
Great Bend's average rate one year ago was 6.39%.
For refis of the same type during the week of 2023-12-07, the average rate
was 6.93%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-12-07 | 7.03% |
| Great Bend 30 Year Fixed Rate | 2023-12-07 | 7.23% |
| Great Bend 30 Year Fixed Rate Refi | 2023-12-07 | 6.93% |
| Great Bend 15 Year Fixed Rate | 2023-12-07 | 6.39% |
| Great Bend 15 Year Fixed Rate Refi | 2023-12-07 | 6.29% |
| Great Bend 30 Year FHA | 2023-12-07 | 6.92% |
| Great Bend 30 Year FHA Refi | 2023-12-07 | 6.62% |
| Great Bend 30 Year USDA | 2023-12-07 | 7.02% |
| Great Bend 30 Year USDA Refi | 2023-12-07 | 7.02% |
| Great Bend 30 Year VA | 2023-12-07 | 6.64% |
| Great Bend 30 Year VA Refi | 2023-12-07 | 6.44% |
Great Bend 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 Great Bend, KS 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.).
Great Bend Average Closing Costs & Other Stats
Great Bend, KS's 25 lenders originated 302
loans during 2022. The total origination value was $29,990,000, with an average loan value of
$99,305.
Great Bend's average closing costs are $3,188.
The top Great Bend lender as defined by loan originations is Landmark National Bank, with
22 loans originated. Their average total fees are
$1,946, which is $158
lower than the next largest lender,
CREDIT UNION OF AMERICA.
The lowest fee Great Bend lenders (with over 10 loans originated) are
Landmark National Bank ($1,946), CREDIT UNION OF AMERICA ($2,104), .
The lowest rate Great Bend lenders (with over 10 loans originated) are
CREDIT UNION OF AMERICA (4.96%), Landmark National Bank (5.47%), .
Great Bend, KS 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 |
|---|---|---|---|---|
| CREDIT UNION OF AMERICA | $6,660,000 | $4,720,000 | -29.1% | 15.7% |
| Landmark National Bank | $13,030,000 | $4,705,000 | -63.9% | 15.7% |
| Farmers Bank & Trust | $5,205,000 | $2,320,000 | -55.4% | 7.7% |
| Sierra Pacific Mortgage Company, Inc. | $330,000 | $1,915,000 | 480.3% | 6.4% |
| Central National Bank | $1,735,000 | $1,815,000 | 4.6% | 6.1% |
| QUICKEN LOANS, LLC | $3,565,000 | $1,350,000 | -62.1% | 4.5% |
| Mortgage Investment Services Corporation | $1,215,000 | $925,000 | -23.9% | 3.1% |
| FLAT BRANCH MORTGAGE, INC. | $1,565,000 | $830,000 | -47.0% | 2.8% |
| CHARTER WEST BANK | $645,000 | n/a | 2.2% | |
| BETTER MORTGAGE CORPORATION | $620,000 | n/a | 2.1% | |
| GOLDEN PLAINS | $145,000 | $575,000 | 296.6% | 1.9% |
| UNITED WHOLESALE MORTGAGE, LLC | $55,000 | $565,000 | 927.3% | 1.9% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $1,010,000 | $520,000 | -48.5% | 1.7% |
| Mortgage Research Center, LLC | $605,000 | $490,000 | -19.0% | 1.6% |
| BROKER SOLUTIONS, INC. | $125,000 | $400,000 | 220.0% | 1.3% |
| Sunflower Bank | $1,850,000 | $390,000 | -78.9% | 1.3% |
| AMERICAN FINANCING CORPORATION | $380,000 | $360,000 | -5.3% | 1.2% |
| NEWREZ LLC | $315,000 | n/a | 1.1% | |
| Equity Bank | $310,000 | n/a | 1.0% | |
| CALIBER HOME LOANS, INC. | $290,000 | n/a | 1.0% | |
| Magnolia Bank | $275,000 | n/a | 0.9% | |
| Wells Fargo Bank | $230,000 | $240,000 | 4.3% | 0.8% |
| NAVY FEDERAL CREDIT UNION | $55,000 | $235,000 | 327.3% | 0.8% |
| MERITRUST Federal Credit Union | $410,000 | $225,000 | -45.1% | 0.8% |
| OPEN MORTGAGE, LLC | $225,000 | n/a | 0.8% | |
| Flagstar Bank, FSB | $195,000 | $220,000 | 12.8% | 0.7% |
| HEARTLAND CREDIT UNION | $135,000 | $215,000 | 59.3% | 0.7% |
| Citizens Bank of Kansas | $205,000 | n/a | 0.7% | |
| DAS Acquisition Company, LLC | $205,000 | n/a | 0.7% | |
| UMB Bank | $310,000 | $205,000 | -33.9% | 0.7% |
| Intrust Bank | $200,000 | n/a | 0.7% | |
| NBH Bank | $200,000 | n/a | 0.7% | |
| Mr. Cooper ( Nationstar Mortgage ) | $275,000 | $190,000 | -30.9% | 0.6% |
| USAA Federal Savings Bank | $210,000 | $175,000 | -16.7% | 0.6% |
| HOMESIDE FINANCIAL, LLC | $170,000 | n/a | 0.6% | |
| First Bank | $165,000 | n/a | 0.6% | |
| NBKC BANK | $165,000 | n/a | 0.6% | |
| U.S. Bank | $410,000 | $160,000 | -61.0% | 0.5% |
| CMG MORTGAGE, INC. | $135,000 | n/a | 0.5% | |
| SpiritBank | $135,000 | n/a | 0.5% | |
| Carrington Mortgage Services, LLC | $225,000 | $130,000 | -42.2% | 0.4% |
| DELMAR FINANCIAL COMPANY | $85,000 | $130,000 | 52.9% | 0.4% |
| COMMUNITYAMERICA | $115,000 | $125,000 | 8.7% | 0.4% |
| EQUITABLE SAVINGS AND LOAN ASSOCIATION | $125,000 | n/a | 0.4% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $125,000 | n/a | 0.4% | |
| NATIONWIDE MORTGAGE BANKERS, INC. | $125,000 | n/a | 0.4% | |
| ZILLOW HOME LOANS, LLC | $255,000 | $125,000 | -51.0% | 0.4% |
| EVERETT FINANCIAL, INC. | $115,000 | n/a | 0.4% | |
| Prosperity Home Mortgage, LLC | $105,000 | n/a | 0.4% | |
| FREEDOM MORTGAGE CORPORATION | $1,035,000 | $95,000 | -90.8% | 0.3% |
| LOANDEPOT.COM, LLC | $95,000 | n/a | 0.3% | |
| KS StateBank | $85,000 | n/a | 0.3% | |
| PENNYMAC LOAN SERVICES, LLC | $200,000 | $85,000 | -57.5% | 0.3% |
| FINANCE OF AMERICA REVERSE LLC | $75,000 | n/a | 0.3% | |
| PLANET HOME LENDING, LLC | $335,000 | $75,000 | -77.6% | 0.3% |
| Bank of America | $55,000 | $65,000 | 18.2% | 0.2% |
| Bethpage Federal Credit Union | $65,000 | n/a | 0.2% | |
| Plains Commerce Bank | $65,000 | n/a | 0.2% | |
| Commerce Bank | $55,000 | $55,000 | 0.0% | 0.2% |
| LENDINGHOME FUNDING CORPORATION | $55,000 | n/a | 0.2% | |
| Carrollton Bank | $25,000 | n/a | 0.1% | |
| Envista Credit Union | $25,000 | n/a | 0.1% | |
| Bank of the West | $550,000 | $15,000 | -97.3% | 0.1% |
Great Bend's top lender by overall market share is CREDIT UNION OF AMERICA, with 15.7% market share. In second place, with 15.7%, is Landmark National Bank, having originated $4,705,000 in loans. In third place, with 7.7%, is Farmers Bank & Trust, having originated $2,320,000 in loans. In fourth place, with 6.4%, is Sierra Pacific Mortgage Company, Inc., having originated $1,915,000 in loans. In fifth place, with 6.1%, is Central National Bank, having originated $1,815,000 in loans.
Great Bend, KS Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 183 | $20,985,000 | $114,672 |
| Refi | 48 | $3,700,000 | $77,083 |
| Cash Out Refi | 32 | $3,690,000 | $115,313 |
| Home Improvement | 25 | $995,000 | $39,800 |
| Other | 14 | $620,000 | $44,286 |
Great Bend's most frequently cited loan purpose was Home Purchase, with 183 originations. The 2nd most popular reason was Refi, with 48 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 86 | $7,750,000 | $90,116 |
| 5-6% | 76 | $7,950,000 | $104,605 |
| 4-5% | 60 | $6,090,000 | $101,500 |
| 6-7% | 31 | $3,205,000 | $103,387 |
| 2.5-3% | 12 | $1,230,000 | $102,500 |
| 7-8% | 10 | $850,000 | $85,000 |
| <2.5% | 3 | $265,000 | $88,333 |
During 2022, Great Bend's most frequently originated rate bucket was 3-4%, with 86 originations.
Loan Sizing (Great Bend, KS MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 181 | $9,845,000 | $54,392 |
| $100k-200k | 94 | $12,780,000 | $135,957 |
| $200k-400k | 24 | $5,650,000 | $235,417 |
| $400k-600k | 2 | $1,070,000 | $535,000 |
| $600k-1000k | 1 | $645,000 | $645,000 |
Great Bend's loan sizing saw the bucket of loans from $100,000 or less with 181 originations, totaling $9,845,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 128 | $15,920,000 | $124,375 |
| 60-80% | 59 | $6,985,000 | $118,390 |
| 20-40% | 40 | $1,700,000 | $42,500 |
| 40-60% | 29 | $1,725,000 | $59,483 |
| Under 20% | 20 | $800,000 | $40,000 |
| Over 100% | 1 | $135,000 | $135,000 |
Great Bend's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 128 originations, totaling $15,920,000 in origination value.