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 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%
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 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.