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 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 6.32% and one month ago for the week of 2024-09-05, the average rate was 6.55%.

Hope's average rate one year ago was 7.59%.

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%
Hope 30 Year Fixed Rate 2024-10-10 6.12%
Hope 30 Year Fixed Rate Refi 2024-10-10 6.82%
Hope 15 Year Fixed Rate 2024-10-10 5.41%
Hope 15 Year Fixed Rate Refi 2024-10-10 6.01%
Hope 30 Year FHA 2024-10-10 6.1%
Hope 30 Year FHA Refi 2024-10-10 6%
Hope 30 Year USDA 2024-10-10 6.28%
Hope 30 Year USDA Refi 2024-10-10 5.88%
Hope 30 Year VA 2024-10-10 5.85%
Hope 30 Year VA Refi 2024-10-10 5.85%
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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 9 7.15% $5,338
SWBC MORTGAGE CORPORATION 9 6.63% $5,589
RED RIVER EMPLOYEES 8 7.52% $2,997
EVERETT FINANCIAL, INC. 5 7.03% $4,751
BancorpSouth 4 6.29% $3,900
Farm Credit Services of Western Arkansas, ACA 4 7.41% $4,236
FirstTrust Home Loans, Inc. 2 7.25% $3,465
DAS Acquisition Company, LLC 2 7.56% $3,800
MORTGAGE FINANCIAL SERVICES, LLC 2 6.56% $3,040
Regions Bank 1 6.50% $2,753
21ST MORTGAGE CORPORATION 1 9.45% $4,843
VANDERBILT MORTGAGE AND FINANCE, INC. 1 8.75% $7,103
AMERISAVE MORTGAGE CORPORATION 1 6.38% $3,759
ARKANSAS Federal Credit Union 1 6.00% $3,740
Arvest Bank 1 6.63% $2,511
BROKER SOLUTIONS, INC. 1 7.63% $4,097
Commercial Bank of Texas 1 8.13% $4,009
Farmers Bank & Trust Company 1 6.88% $2,428
JPMorgan Chase Bank 1 6.63% $5,659
Mr. Cooper ( Nationstar Mortgage ) 1 7.13% $5,925

Hope Average Closing Costs & Other Stats

Hope, AR's 20 lenders originated 279 loans during 2023. The total origination value was $30,775,000, with an average loan value of $110,305.

Hope's average closing costs are $3,896.

The top Hope lender as defined by loan originations is QUICKEN LOANS, LLC, with 9 loans originated. Their average total fees are $5,338, which is $251 lower than the next largest lender, SWBC MORTGAGE CORPORATION.

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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
Farmers Bank & Trust Company $8,645,000 $5,465,000 -36.8% 17.8%
BancorpSouth $1,835,000 $3,445,000 87.7% 11.2%
SWBC MORTGAGE CORPORATION $4,325,000 $3,360,000 -22.3% 10.9%
QUICKEN LOANS, LLC $3,135,000 $2,395,000 -23.6% 7.8%
21ST MORTGAGE CORPORATION $1,095,000 $1,920,000 75.3% 6.2%
RED RIVER EMPLOYEES $1,880,000 $1,235,000 -34.3% 4.0%
Diamond Bank $2,890,000 $980,000 -66.1% 3.2%
EVERETT FINANCIAL, INC. $365,000 $890,000 143.8% 2.9%
Mortgage Research Center, LLC $750,000 $860,000 14.7% 2.8%
Farm Credit Services of Western Arkansas, ACA $890,000 $790,000 -11.2% 2.6%
The First National Bank of Tom Bean $3,460,000 $740,000 -78.6% 2.4%
FirstTrust Home Loans, Inc. $2,405,000 $645,000 -73.2% 2.1%
TRIAD FINANCIAL SERVICES, INC. $1,130,000 $645,000 -42.9% 2.1%
VANDERBILT MORTGAGE AND FINANCE, INC. $255,000 $630,000 147.1% 2.0%
UNITED BUILT HOMES, L.L.C. $245,000 $480,000 95.9% 1.6%
MORTGAGE FINANCIAL SERVICES, LLC $420,000 n/a 1.4%
LOANDEPOT.COM, LLC $345,000 n/a 1.1%
BROKER SOLUTIONS, INC. $95,000 $295,000 210.5% 1.0%
JPMorgan Chase Bank $35,000 $295,000 742.9% 1.0%
UNITED WHOLESALE MORTGAGE, LLC $290,000 n/a 0.9%
CRESCENT MORTGAGE COMPANY $255,000 n/a 0.8%
Simmons Bank $255,000 n/a 0.8%
PENNYMAC LOAN SERVICES, LLC $865,000 $235,000 -72.8% 0.8%
DAS Acquisition Company, LLC $210,000 n/a 0.7%
First Financial Bank $205,000 n/a 0.7%
NEWREZ LLC $85,000 $205,000 141.2% 0.7%
PRIMARY RESIDENTIAL MORTGAGE, INC. $590,000 $190,000 -67.8% 0.6%
Regions Bank $15,000 $190,000 1,166.7% 0.6%
Guaranty Bank & Trust, N.A. $185,000 n/a 0.6%
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. $185,000 n/a 0.6%
AMERISAVE MORTGAGE CORPORATION $185,000 $180,000 -2.7% 0.6%
Arvest Bank $165,000 $175,000 6.1% 0.6%
Horatio State Bank $160,000 $170,000 6.3% 0.6%
ARKANSAS Federal Credit Union $50,000 $160,000 220.0% 0.5%
U.S. Bank $70,000 $150,000 114.3% 0.5%
Firstar Bank $145,000 n/a 0.5%
Mr. Cooper ( Nationstar Mortgage ) $770,000 $145,000 -81.2% 0.5%
Commercial Bank of Texas $135,000 n/a 0.4%
ON Q FINANCIAL, INC. $135,000 n/a 0.4%
COUNTRYPLACE MORTGAGE, LTD. $125,000 n/a 0.4%
GERSHMAN INVESTMENT CORP. $125,000 n/a 0.4%
RELIANCE FIRST CAPITAL, LLC $125,000 n/a 0.4%
CSL Financial, LLC $175,000 $115,000 -34.3% 0.4%
NFM, INC. $115,000 n/a 0.4%
SOUTHWEST STAGE FUNDING, LLC $195,000 $85,000 -56.4% 0.3%
Bank of England $400,000 $55,000 -86.3% 0.2%
Southern Bancorp Bank $190,000 $55,000 -71.1% 0.2%
MID AMERICA MORTGAGE, INC. $45,000 n/a 0.1%
NAVY FEDERAL CREDIT UNION $155,000 $45,000 -71.0% 0.1%
PENTAGON FEDERAL CREDIT UNION $35,000 n/a 0.1%
Origin Bank $25,000 n/a 0.1%

Hope's top lender by overall market share is Farmers Bank & Trust Company, with 17.8% market share. In second place, with 11.2%, is BancorpSouth, having originated $3,445,000 in loans. In third place, with 10.9%, is SWBC MORTGAGE CORPORATION, having originated $3,360,000 in loans. In fourth place, with 7.8%, is QUICKEN LOANS, LLC, having originated $2,395,000 in loans. In fifth place, with 6.2%, is 21ST MORTGAGE CORPORATION, having originated $1,920,000 in loans.

Hope, AR Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 177 $20,995,000 $118,616
Refi 40 $3,840,000 $96,000
Cash Out Refi 32 $3,680,000 $115,000
Home Improvement 16 $1,370,000 $85,625
Other 14 $890,000 $63,571

Hope's most frequently cited loan purpose was Home Purchase, with 177 originations. The 2nd most popular reason was Refi, with 40 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
Over 8% 100 $9,190,000 $91,900
7-8% 69 $7,425,000 $107,609
6-7% 64 $8,700,000 $135,938
5-6% 20 $3,520,000 $176,000
<2.5% 1 $5,000 $5,000

During 2023, Hope's most frequently originated rate bucket was Over 8%, with 100 originations.

Loan Sizing (Hope, AR MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 154 $8,620,000 $55,974
$100k-200k 89 $12,655,000 $142,191
$200k-400k 33 $8,055,000 $244,091
$400k-600k 3 $1,445,000 $481,667

Hope's loan sizing saw the bucket of loans from $100,000 or less with 154 originations, totaling $8,620,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 139 $17,125,000 $123,201
60-80% 43 $6,355,000 $147,791
Under 20% 26 $810,000 $31,154
40-60% 22 $2,580,000 $117,273
20-40% 20 $1,460,000 $73,000
Over 100% 3 $395,000 $131,667

Hope's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 139 originations, totaling $17,125,000 in origination value.