Hope Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Hope averaged 7.22% 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 7.49% and one month ago for the week of 2023-10-26, the average rate was 7.79%.

Hope's average rate one year ago was 6.58%.

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%
Hope 30 Year Fixed Rate 2023-11-30 7.22%
Hope 30 Year Fixed Rate Refi 2023-11-30 7.82%
Hope 15 Year Fixed Rate 2023-11-30 6.46%
Hope 15 Year Fixed Rate Refi 2023-11-30 6.66%
Hope 30 Year FHA 2023-11-30 7.15%
Hope 30 Year FHA Refi 2023-11-30 7.15%
Hope 30 Year USDA 2023-11-30 7.2%
Hope 30 Year USDA Refi 2023-11-30 7.2%
Hope 30 Year VA 2023-11-30 6.97%
Hope 30 Year VA Refi 2023-11-30 6.67%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Hope, AR.

Hope 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 Hope, AR 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
SWBC MORTGAGE CORPORATION 7 5.25% $6,839
QUICKEN LOANS, LLC 6 4.52% $5,709
Farm Credit Services of Western Arkansas, ACA 4 5.24% $4,590
FirstTrust Home Loans, Inc. 4 5.28% $5,045
21ST MORTGAGE CORPORATION 3 7.12% $5,679
BancorpSouth 3 5.38% $3,182
Mr. Cooper ( Nationstar Mortgage ) 3 4.92% $6,746
Wells Fargo Bank 2 3.94% $4,493
CHURCHILL MORTGAGE CORPORATION 1 4.99% $3,976
Farmers Bank & Trust Company 1 4.49% $2,523
Carrington Mortgage Services, LLC 1 3.25% $3,268
FREEDOM MORTGAGE CORPORATION 1 5.25% $5,392
GUILD MORTGAGE COMPANY 1 7.13% $3,866
JPMorgan Chase Bank 1 3.50% $953
Mortgage Research Center, LLC 1 6.13% $0
BOKF 1 5.88% $3,820
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.63% $3,940
NAVY FEDERAL CREDIT UNION 1 5.75% $1,575
PENNYMAC LOAN SERVICES, LLC 1 3.88% $6,594
BETTER MORTGAGE CORPORATION 1 2.88% $1,421
RED RIVER EMPLOYEES 1 5.38% $2,337
ROYAL UNITED MORTGAGE LLC 1 6.00% $6,115
BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 6.00% $3,088
USAA Federal Savings Bank 1 5.38% $3,379
Waterstone Mortgage Corporation 1 5.99% $4,914
AMERISAVE MORTGAGE CORPORATION 1 2.75% $9,146

Hope Average Closing Costs & Other Stats

Hope, AR's 26 lenders originated 352 loans during 2022. The total origination value was $41,930,000, with an average loan value of $119,119.

Hope's average closing costs are $3,740.

The top Hope lender as defined by loan originations is SWBC MORTGAGE CORPORATION, with 7 loans originated. Their average total fees are $6,839, which is $1,130 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Hope lenders (with over 10 loans originated) are .

The lowest rate Hope lenders (with over 10 loans originated) are .

Hope, AR 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
Farmers Bank & Trust Company $6,845,000 $8,645,000 26.3% 20.6%
SWBC MORTGAGE CORPORATION $6,875,000 $4,325,000 -37.1% 10.3%
The First National Bank of Tom Bean $3,130,000 $3,460,000 10.5% 8.3%
QUICKEN LOANS, LLC $4,625,000 $3,135,000 -32.2% 7.5%
Diamond Bank $2,025,000 $2,890,000 42.7% 6.9%
FirstTrust Home Loans, Inc. $1,830,000 $2,405,000 31.4% 5.7%
RED RIVER EMPLOYEES $1,495,000 $1,880,000 25.8% 4.5%
BancorpSouth Bank $3,745,000 $1,835,000 -51.0% 4.4%
TRIAD FINANCIAL SERVICES, INC. $685,000 $1,130,000 65.0% 2.7%
21ST MORTGAGE CORPORATION $1,375,000 $1,095,000 -20.4% 2.6%
Farm Credit Services of Western Arkansas, ACA $870,000 $890,000 2.3% 2.1%
PENNYMAC LOAN SERVICES, LLC $1,365,000 $865,000 -36.6% 2.1%
Mr. Cooper ( Nationstar Mortgage ) $265,000 $770,000 190.6% 1.8%
Mortgage Research Center, LLC $320,000 $750,000 134.4% 1.8%
PRIMARY RESIDENTIAL MORTGAGE, INC. $175,000 $590,000 237.1% 1.4%
BETTER MORTGAGE CORPORATION $470,000 n/a 1.1%
Bank of England $775,000 $400,000 -48.4% 1.0%
BANK OF LITTLE ROCK MORTGAGE CORPORATION $390,000 n/a 0.9%
Carrington Mortgage Services, LLC $370,000 n/a 0.9%
EVERETT FINANCIAL, INC. $365,000 n/a 0.9%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $65,000 $320,000 392.3% 0.8%
Wells Fargo Bank $385,000 $315,000 -18.2% 0.8%
VANDERBILT MORTGAGE AND FINANCE, INC. $545,000 $255,000 -53.2% 0.6%
UNITED BUILT HOMES, L.L.C. $245,000 n/a 0.6%
SOUTHWEST STAGE FUNDING, LLC $195,000 n/a 0.5%
Southern Bancorp Bank $190,000 n/a 0.5%
AMERISAVE MORTGAGE CORPORATION $385,000 $185,000 -51.9% 0.4%
FREEDOM MORTGAGE CORPORATION $1,020,000 $185,000 -81.9% 0.4%
Colonial Savings, F.A. $175,000 n/a 0.4%
CSL Financial, LLC $65,000 $175,000 169.2% 0.4%
North American Savings Bank, F.S.B. $175,000 n/a 0.4%
Arvest Bank $650,000 $165,000 -74.6% 0.4%
CALIBER HOME LOANS, INC. $525,000 $165,000 -68.6% 0.4%
Horatio State Bank $615,000 $160,000 -74.0% 0.4%
United Community Bank $160,000 n/a 0.4%
NAVY FEDERAL CREDIT UNION $355,000 $155,000 -56.3% 0.4%
CHURCHILL MORTGAGE CORPORATION $145,000 n/a 0.3%
Waterstone Mortgage Corporation $330,000 $135,000 -59.1% 0.3%
NEW DAY FINANCIAL, LLC $125,000 $125,000 0.0% 0.3%
AMERICAN INTERNET MORTGAGE, INC. $115,000 n/a 0.3%
MUTUAL OF OMAHA MORTGAGE, INC. $115,000 n/a 0.3%
USAA Federal Savings Bank $105,000 n/a 0.3%
Austin Capital Bank SSB $95,000 n/a 0.2%
BROKER SOLUTIONS, INC. $75,000 $95,000 26.7% 0.2%
CARTER FEDERAL CREDIT UNION $95,000 n/a 0.2%
ROYAL UNITED MORTGAGE LLC $75,000 $95,000 26.7% 0.2%
Bank OZK $295,000 $85,000 -71.2% 0.2%
NEWREZ LLC $635,000 $85,000 -86.6% 0.2%
State Bank of De Kalb $670,000 $85,000 -87.3% 0.2%
AMERICAN FINANCIAL RESOURCES, INC. $125,000 $75,000 -40.0% 0.2%
CREDIT HUMAN FEDERAL CREDIT UNION $75,000 n/a 0.2%
U.S. Bank $295,000 $70,000 -76.3% 0.2%
FLAT BRANCH MORTGAGE, INC. $65,000 n/a 0.2%
GMFS LLC $65,000 n/a 0.2%
GUILD MORTGAGE COMPANY $65,000 n/a 0.2%
ARKANSAS Federal Credit Union $50,000 n/a 0.1%
BOKF $45,000 n/a 0.1%
Flagstar Bank, FSB $45,000 n/a 0.1%
Bank of America $35,000 n/a 0.1%
Guaranty Bank & Trust Company of Delhi, Louisiana $35,000 n/a 0.1%
JPMorgan Chase Bank $55,000 $35,000 -36.4% 0.1%
Regions Bank $190,000 $15,000 -92.1% 0.0%

Hope's top lender by overall market share is Farmers Bank & Trust Company, with 20.6% market share. In second place, with 10.3%, is SWBC MORTGAGE CORPORATION, having originated $4,325,000 in loans. In third place, with 8.3%, is The First National Bank of Tom Bean, having originated $3,460,000 in loans. In fourth place, with 7.5%, is QUICKEN LOANS, LLC, having originated $3,135,000 in loans. In fifth place, with 6.9%, is Diamond Bank, having originated $2,890,000 in loans.

Hope, AR Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 213 $28,515,000 $133,873
Refi 71 $7,155,000 $100,775
Cash Out Refi 48 $5,250,000 $109,375
Home Improvement 11 $625,000 $56,818
Other 9 $385,000 $42,778

Hope's most frequently cited loan purpose was Home Purchase, with 213 originations. The 2nd most popular reason was Refi, with 71 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
5-6% 77 $9,765,000 $126,818
4-5% 74 $9,570,000 $129,324
3-4% 55 $6,075,000 $110,455
6-7% 36 $4,020,000 $111,667
7-8% 22 $2,340,000 $106,364
2.5-3% 15 $2,205,000 $147,000
Over 8% 12 $1,400,000 $116,667
<2.5% 1 $75,000 $75,000

During 2022, Hope's most frequently originated rate bucket was 5-6%, with 77 originations.

Loan Sizing (Hope, AR MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 173 $9,755,000 $56,387
$100k-200k 130 $18,280,000 $140,615
$200k-400k 47 $12,385,000 $263,511
$400k-600k 1 $505,000 $505,000
$Over $1MM 1 $1,005,000 $1,005,000

Hope's loan sizing saw the bucket of loans from $100,000 or less with 173 originations, totaling $9,755,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 148 $20,550,000 $138,851
60-80% 75 $9,415,000 $125,533
40-60% 30 $3,500,000 $116,667
Under 20% 19 $495,000 $26,053
20-40% 18 $1,130,000 $62,778
Over 100% 1 $185,000 $185,000

Hope's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 148 originations, totaling $20,550,000 in origination value.