Greenwood Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Greenwood averaged
7.12%
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
7.29% and
one month ago for the week of 2023-10-26, the
average rate was 7.89%.
Greenwood's average rate one year ago was 6.38%.
For refis of the same type during the week of 2023-11-30, the average rate
was 7.82%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-11-30 | 7.22% |
| Greenwood 30 Year Fixed Rate | 2023-11-30 | 7.12% |
| Greenwood 30 Year Fixed Rate Refi | 2023-11-30 | 7.82% |
| Greenwood 15 Year Fixed Rate | 2023-11-30 | 6.46% |
| Greenwood 15 Year Fixed Rate Refi | 2023-11-30 | 6.46% |
| Greenwood 30 Year FHA | 2023-11-30 | 7.05% |
| Greenwood 30 Year FHA Refi | 2023-11-30 | 6.95% |
| Greenwood 30 Year USDA | 2023-11-30 | 7% |
| Greenwood 30 Year USDA Refi | 2023-11-30 | 6.9% |
| Greenwood 30 Year VA | 2023-11-30 | 6.67% |
| Greenwood 30 Year VA Refi | 2023-11-30 | 6.97% |
Greenwood 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 Greenwood, MS 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 |
|---|---|---|---|
| GMFS LLC | 8 | 5.48% | $4,642 |
| QUICKEN LOANS, LLC | 8 | 5.22% | $6,469 |
| Trustmark National Bank | 7 | 4.48% | $3,269 |
| BankPlus | 5 | 4.09% | $3,342 |
| BancorpSouth | 5 | 5.78% | $3,524 |
| Regions Bank | 5 | 5.50% | $3,458 |
| Renasant Bank | 4 | 4.06% | $3,862 |
| UNITED WHOLESALE MORTGAGE, LLC | 4 | 5.04% | $6,890 |
| Flagstar Bank, FSB | 3 | 4.79% | $4,502 |
| AmeriHome Mortgage Company, LLC | 2 | 5.12% | $4,417 |
| HOME POINT FINANCIAL CORPORATION | 1 | 5.50% | $4,360 |
| HOPE FEDERAL CREDIT UNION | 1 | 5.50% | $4,180 |
| LOANDEPOT.COM, LLC | 1 | 3.25% | $5,729 |
| MORTGAGE INVESTORS GROUP, INC. | 1 | 5.50% | $3,173 |
| Mortgage Research Center, LLC | 1 | 5.75% | $5,113 |
| Origin Bank | 1 | 5.25% | $511 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 6.13% | $5,371 |
| EVERETT FINANCIAL, INC. | 1 | 6.50% | $1,977 |
| CRESCENT MORTGAGE COMPANY | 1 | 4.63% | $4,112 |
| ROYAL UNITED MORTGAGE LLC | 1 | 6.13% | $7,604 |
| CREDIT UNION MORTGAGE ASSOCIATION, INC. | 1 | 4.00% | $4,206 |
| UNION HOME MORTGAGE CORP. | 1 | 3.38% | $4,773 |
| AMERISAVE MORTGAGE CORPORATION | 1 | 4.13% | $2,308 |
Greenwood Average Closing Costs & Other Stats
Greenwood, MS's 23 lenders originated 309
loans during 2022. The total origination value was $42,585,000, with an average loan value of
$137,816.
Greenwood's average closing costs are $4,308.
The top Greenwood lender as defined by loan originations is GMFS LLC, with
8 loans originated. Their average total fees are
$4,642, which is $1,827
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Greenwood lenders (with over 10 loans originated) are
.
The lowest rate Greenwood lenders (with over 10 loans originated) are
.
Greenwood, MS 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 |
|---|---|---|---|---|
| Planters Bank & Trust Company | $3,520,000 | $4,305,000 | 22.3% | 10.1% |
| Trustmark National Bank | $6,370,000 | $4,265,000 | -33.0% | 10.0% |
| GMFS LLC | $310,000 | $4,065,000 | 1,211.3% | 9.5% |
| BankPlus | $1,595,000 | $3,420,000 | 114.4% | 8.0% |
| QUICKEN LOANS, LLC | $6,845,000 | $2,785,000 | -59.3% | 6.5% |
| Renasant Bank | $2,085,000 | $2,635,000 | 26.4% | 6.2% |
| Regions Bank | $3,765,000 | $2,375,000 | -36.9% | 5.6% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,780,000 | $1,555,000 | -12.6% | 3.7% |
| Guaranty Bank and Trust Company | $4,815,000 | $1,100,000 | -77.2% | 2.6% |
| BancorpSouth Bank | $995,000 | $1,095,000 | 10.1% | 2.6% |
| Mortgage Research Center, LLC | $1,630,000 | $1,025,000 | -37.1% | 2.4% |
| PriorityOne Bank | $3,995,000 | $885,000 | -77.8% | 2.1% |
| AmeriHome Mortgage Company, LLC | $865,000 | n/a | 2.0% | |
| CB&S Bank, Inc. | $1,155,000 | $760,000 | -34.2% | 1.8% |
| MICHIGAN MUTUAL, INC. | $1,265,000 | $710,000 | -43.9% | 1.7% |
| AMERISAVE MORTGAGE CORPORATION | $1,180,000 | $685,000 | -41.9% | 1.6% |
| Origin Bank | $450,000 | $585,000 | 30.0% | 1.4% |
| MORTGAGE INVESTORS GROUP, INC. | $300,000 | $505,000 | 68.3% | 1.2% |
| Mr. Cooper ( Nationstar Mortgage ) | $385,000 | $485,000 | 26.0% | 1.1% |
| 21ST MORTGAGE CORPORATION | $440,000 | $460,000 | 4.5% | 1.1% |
| Community Bank of Mississippi | $190,000 | $445,000 | 134.2% | 1.0% |
| LOANDEPOT.COM, LLC | $760,000 | $410,000 | -46.1% | 1.0% |
| FREEDOM MORTGAGE CORPORATION | $1,165,000 | $400,000 | -65.7% | 0.9% |
| NEWREZ LLC | $75,000 | $400,000 | 433.3% | 0.9% |
| Flagstar Bank, FSB | $585,000 | $375,000 | -35.9% | 0.9% |
| PREMIA MORTGAGE, LLC | $355,000 | n/a | 0.8% | |
| COUNTRYPLACE MORTGAGE, LTD. | $335,000 | n/a | 0.8% | |
| Barrington Bank & Trust Company, N.A. | $115,000 | $280,000 | 143.5% | 0.7% |
| PENNYMAC LOAN SERVICES, LLC | $580,000 | $280,000 | -51.7% | 0.7% |
| SOUTHWEST STAGE FUNDING, LLC | $255,000 | $265,000 | 3.9% | 0.6% |
| First Financial Bank | $235,000 | n/a | 0.6% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $125,000 | $225,000 | 80.0% | 0.5% |
| CROSSCOUNTRY MORTGAGE, LLC | $210,000 | n/a | 0.5% | |
| HOPE FEDERAL CREDIT UNION | $645,000 | $210,000 | -67.4% | 0.5% |
| EVERETT FINANCIAL, INC. | $205,000 | n/a | 0.5% | |
| HOME POINT FINANCIAL CORPORATION | $165,000 | $195,000 | 18.2% | 0.5% |
| BAYSHORE MORTGAGE FUNDING, LLC | $175,000 | n/a | 0.4% | |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $1,025,000 | $155,000 | -84.9% | 0.4% |
| FIRST COMMUNITY MORTGAGE, INC. | $155,000 | n/a | 0.4% | |
| LAKEVIEW LOAN SERVICING, LLC | $155,000 | n/a | 0.4% | |
| CREDIT UNION MORTGAGE ASSOCIATION, INC. | $135,000 | $145,000 | 7.4% | 0.3% |
| OPEN MORTGAGE, LLC | $75,000 | $135,000 | 80.0% | 0.3% |
| Southern Bancorp Bank | $125,000 | $135,000 | 8.0% | 0.3% |
| CRESCENT MORTGAGE COMPANY | $1,355,000 | $125,000 | -90.8% | 0.3% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $420,000 | $125,000 | -70.2% | 0.3% |
| INTERLINC MORTGAGE SERVICES, LLC | $435,000 | $125,000 | -71.3% | 0.3% |
| UNION HOME MORTGAGE CORP. | $125,000 | n/a | 0.3% | |
| Wells Fargo Bank | $740,000 | $125,000 | -83.1% | 0.3% |
| EMBRACE HOME LOANS, INC. | $175,000 | $115,000 | -34.3% | 0.3% |
| USAA Federal Savings Bank | $75,000 | $115,000 | 53.3% | 0.3% |
| CALIBER HOME LOANS, INC. | $480,000 | $105,000 | -78.1% | 0.2% |
| CHEVRON | $95,000 | n/a | 0.2% | |
| LIMA ONE CAPITAL, LLC | $95,000 | n/a | 0.2% | |
| ROYAL UNITED MORTGAGE LLC | $170,000 | $95,000 | -44.1% | 0.2% |
| Carrington Mortgage Services, LLC | $230,000 | $65,000 | -71.7% | 0.2% |
| Bank of America | $45,000 | n/a | 0.1% | |
| Centra Credit Union | $45,000 | n/a | 0.1% | |
| JPMorgan Chase Bank | $35,000 | n/a | 0.1% |
Greenwood's top lender by overall market share is Planters Bank & Trust Company, with 10.1% market share. In second place, with 10.0%, is Trustmark National Bank, having originated $4,265,000 in loans. In third place, with 9.5%, is GMFS LLC, having originated $4,065,000 in loans. In fourth place, with 8.0%, is BankPlus, having originated $3,420,000 in loans. In fifth place, with 6.5%, is QUICKEN LOANS, LLC, having originated $2,785,000 in loans.
Greenwood, MS Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 158 | $23,260,000 | $147,215 |
| Refi | 92 | $12,630,000 | $137,283 |
| Cash Out Refi | 25 | $3,645,000 | $145,800 |
| Home Improvement | 18 | $990,000 | $55,000 |
| Other | 16 | $2,060,000 | $128,750 |
Greenwood's most frequently cited loan purpose was Home Purchase, with 158 originations. The 2nd most popular reason was Refi, with 92 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 83 | $11,625,000 | $140,060 |
| 4-5% | 68 | $11,510,000 | $169,265 |
| 3-4% | 52 | $8,380,000 | $161,154 |
| 6-7% | 37 | $4,815,000 | $130,135 |
| <2.5% | 26 | $1,400,000 | $53,846 |
| 2.5-3% | 16 | $1,800,000 | $112,500 |
| 7-8% | 10 | $1,010,000 | $101,000 |
| Over 8% | 8 | $780,000 | $97,500 |
During 2022, Greenwood's most frequently originated rate bucket was 5-6%, with 83 originations.
Loan Sizing (Greenwood, MS MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 133 | $7,415,000 | $55,752 |
| $100k-200k | 117 | $16,365,000 | $139,872 |
| $200k-400k | 53 | $14,285,000 | $269,528 |
| $600k-1000k | 3 | $2,145,000 | $715,000 |
| $400k-600k | 2 | $1,050,000 | $525,000 |
| $Over $1MM | 1 | $1,325,000 | $1,325,000 |
Greenwood's loan sizing saw the bucket of loans from $100,000 or less with 133 originations, totaling $7,415,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 146 | $24,140,000 | $165,342 |
| 60-80% | 67 | $9,365,000 | $139,776 |
| 40-60% | 34 | $3,370,000 | $99,118 |
| 20-40% | 28 | $2,590,000 | $92,500 |
| Under 20% | 16 | $430,000 | $26,875 |
| Over 100% | 8 | $1,420,000 | $177,500 |
Greenwood's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 146 originations, totaling $24,140,000 in origination value.