Greenwood Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Greenwood averaged 6.12% for the week of 2024-10-10, compared to the national average of 6.32% for the same period.

The average rate for the prior week (2024-10-03) was 6.22% and one month ago for the week of 2024-09-05, the average rate was 6.55%.

Greenwood's average rate one year ago was 7.69%.

For refis of the same type during the week of 2024-10-10, the average rate was 6.82%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-10-10 6.32%
Greenwood 30 Year Fixed Rate 2024-10-10 6.12%
Greenwood 30 Year Fixed Rate Refi 2024-10-10 6.82%
Greenwood 15 Year Fixed Rate 2024-10-10 5.21%
Greenwood 15 Year Fixed Rate Refi 2024-10-10 5.91%
Greenwood 30 Year FHA 2024-10-10 6.1%
Greenwood 30 Year FHA Refi 2024-10-10 6.2%
Greenwood 30 Year USDA 2024-10-10 6.08%
Greenwood 30 Year USDA Refi 2024-10-10 6.28%
Greenwood 30 Year VA 2024-10-10 5.65%
Greenwood 30 Year VA Refi 2024-10-10 6.05%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Greenwood, MS.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
BancorpSouth 4 6.47% $4,267
Regions Bank 3 6.79% $3,690
Trustmark National Bank 3 6.83% $3,581
QUICKEN LOANS, LLC 3 6.62% $6,954
AmeriHome Mortgage Company, LLC 2 7.00% $3,231
CB&S Bank, Inc. 1 6.75% $4,042
CORNERSTONE HOME LENDING, INC. 1 7.50% $3,316
Deere Employees Credit Union 1 6.63% $3,896
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 6.99% $4,166
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.63% $4,982
Magnolia Bank 1 7.00% $5,331
MORTGAGE INVESTORS GROUP, INC. 1 6.38% $3,789
Mortgage Research Center, LLC 1 7.63% $2,573
OPEN MORTGAGE, LLC 1 7.99% $3,078
PENNYMAC LOAN SERVICES, LLC 1 7.62% $8,274
UNION HOME MORTGAGE CORP. 1 7.25% $6,414
UNITED WHOLESALE MORTGAGE, LLC 1 6.00% $8,032
ZILLOW HOME LOANS, LLC 1 7.13% $4,447
AMERISAVE MORTGAGE CORPORATION 1 6.88% $5,341
Bank of America 1 7.38% $3,531
Bank of England 1 7.50% $5,976
BankPlus 1 6.50% $2,900

Greenwood Average Closing Costs & Other Stats

Greenwood, MS's 22 lenders originated 259 loans during 2023. The total origination value was $37,115,000, with an average loan value of $143,301.

Greenwood's average closing costs are $4,427.

The top Greenwood lender as defined by loan originations is BancorpSouth, with 4 loans originated. Their average total fees are $4,267, which is $577 higher than the next largest lender, Regions Bank.

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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
Guaranty Bank and Trust Company $1,100,000 $7,190,000 553.6% 19.4%
Planters Bank & Trust Company $4,305,000 $3,990,000 -7.3% 10.8%
Southern Bank $3,475,000 n/a 9.4%
BankPlus $3,420,000 $2,070,000 -39.5% 5.6%
Trustmark National Bank $4,265,000 $1,580,000 -63.0% 4.3%
CB&S Bank, Inc. $760,000 $1,435,000 88.8% 3.9%
Regions Bank $2,375,000 $1,310,000 -44.8% 3.5%
QUICKEN LOANS, LLC $2,785,000 $1,170,000 -58.0% 3.2%
BancorpSouth $1,095,000 $1,095,000 0.0% 3.0%
Renasant Bank $2,635,000 $930,000 -64.7% 2.5%
Mortgage Research Center, LLC $1,025,000 $840,000 -18.0% 2.3%
GMFS LLC $4,065,000 $705,000 -82.7% 1.9%
AmeriHome Mortgage Company, LLC $865,000 $690,000 -20.2% 1.9%
21ST MORTGAGE CORPORATION $460,000 $680,000 47.8% 1.8%
Southern Bancorp Bank $135,000 $670,000 396.3% 1.8%
MICHIGAN MUTUAL, INC. $710,000 $635,000 -10.6% 1.7%
UNITED WHOLESALE MORTGAGE, LLC $1,555,000 $515,000 -66.9% 1.4%
TRIAD FINANCIAL SERVICES, INC. $475,000 n/a 1.3%
NAVY FEDERAL CREDIT UNION $460,000 n/a 1.2%
UNION HOME MORTGAGE CORP. $125,000 $430,000 244.0% 1.2%
The First, A National Banking Association $360,000 n/a 1.0%
Nations Lending Corporation $335,000 n/a 0.9%
Magnolia Bank $310,000 n/a 0.8%
ACADEMY MORTGAGE CORPORATION $305,000 n/a 0.8%
COMMUNITY MORTGAGE CORPORATION $300,000 n/a 0.8%
Deere Employees Credit Union $300,000 n/a 0.8%
Mr. Cooper ( Nationstar Mortgage ) $485,000 $265,000 -45.4% 0.7%
AMERISAVE MORTGAGE CORPORATION $685,000 $260,000 -62.0% 0.7%
Flagstar Bank, FSB $375,000 $260,000 -30.7% 0.7%
LOANDEPOT.COM, LLC $410,000 $250,000 -39.0% 0.7%
Bank of England $240,000 n/a 0.6%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $125,000 $240,000 92.0% 0.6%
Mid-Continent Funding, Inc. $235,000 n/a 0.6%
Origin Bank $585,000 $235,000 -59.8% 0.6%
Paragon Bank $225,000 n/a 0.6%
CARDINAL FINANCIAL $155,000 $215,000 38.7% 0.6%
OPEN MORTGAGE, LLC $135,000 $215,000 59.3% 0.6%
PENNYMAC LOAN SERVICES, LLC $280,000 $205,000 -26.8% 0.6%
CSL Financial, LLC $165,000 n/a 0.4%
Bank of America $45,000 $155,000 244.4% 0.4%
ZILLOW HOME LOANS, LLC $155,000 n/a 0.4%
EUSTIS AND AMERICAN MORTGAGE COMPANY $145,000 n/a 0.4%
Truist $145,000 n/a 0.4%
BROKER SOLUTIONS, INC. $140,000 n/a 0.4%
Liberty Bank and Trust Company $115,000 n/a 0.3%
SWBC MORTGAGE CORPORATION $95,000 n/a 0.3%
MORTGAGE INVESTORS GROUP, INC. $505,000 $85,000 -83.2% 0.2%
PriorityOne Bank $885,000 $85,000 -90.4% 0.2%
VANDERBILT MORTGAGE AND FINANCE, INC. $85,000 n/a 0.2%
Wells Fargo Bank $125,000 $85,000 -32.0% 0.2%
STOCKTON MORTGAGE CORPORATION $75,000 n/a 0.2%
CORNERSTONE HOME LENDING, INC. $65,000 n/a 0.2%
The Citizens Bank of Philadelphia, Mississippi $45,000 n/a 0.1%
b1BANK $35,000 n/a 0.1%
Coastal Community Bank $25,000 n/a 0.1%
First Citizens National Bank $15,000 n/a 0.0%

Greenwood's top lender by overall market share is Guaranty Bank and Trust Company, with 19.4% market share. In second place, with 10.8%, is Planters Bank & Trust Company, having originated $3,990,000 in loans. In third place, with 9.4%, is Southern Bank, having originated $3,475,000 in loans. In fourth place, with 5.6%, is BankPlus, having originated $2,070,000 in loans. In fifth place, with 4.3%, is Trustmark National Bank, having originated $1,580,000 in loans.

Greenwood, MS Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 143 $27,305,000 $190,944
Refi 75 $6,605,000 $88,067
Other 18 $800,000 $44,444
Home Improvement 13 $865,000 $66,538
Cash Out Refi 10 $1,540,000 $154,000

Greenwood's most frequently cited loan purpose was Home Purchase, with 143 originations. The 2nd most popular reason was Refi, with 75 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
Over 8% 82 $6,760,000 $82,439
6-7% 65 $11,655,000 $179,308
7-8% 50 $6,760,000 $135,200
5-6% 20 $2,920,000 $146,000
<2.5% 13 $285,000 $21,923
4-5% 1 $205,000 $205,000
3-4% 1 $85,000 $85,000

During 2023, Greenwood's most frequently originated rate bucket was Over 8%, with 82 originations.

Loan Sizing (Greenwood, MS MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 130 $6,340,000 $48,769
$100k-200k 95 $13,245,000 $139,421
$200k-400k 30 $7,840,000 $261,333
$400k-600k 2 $1,110,000 $555,000
$Over $1MM 2 $8,580,000 $4,290,000

Greenwood's loan sizing saw the bucket of loans from $100,000 or less with 130 originations, totaling $6,340,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 100 $18,070,000 $180,700
60-80% 51 $5,855,000 $114,804
20-40% 25 $1,325,000 $53,000
Under 20% 25 $565,000 $22,600
40-60% 24 $1,920,000 $80,000
Over 100% 5 $765,000 $153,000

Greenwood's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 100 originations, totaling $18,070,000 in origination value.