Hutchinson Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Hutchinson averaged
6.4%
for the week of 2024-10-24, compared to the national average of
6.54% for the same period.
The average rate for the prior week (2024-10-17) was
6.5% and
one month ago for the week of 2024-09-19, the
average rate was 6.05%.
Hutchinson's average rate one year ago was 7.79%.
For refis of the same type during the week of 2024-10-24, the average rate
was 7.04%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-24 | 6.54% |
Hutchinson 30 Year Fixed Rate | 2024-10-24 | 6.4% |
Hutchinson 30 Year Fixed Rate Refi | 2024-10-24 | 7.04% |
Hutchinson 15 Year Fixed Rate | 2024-10-24 | 5.81% |
Hutchinson 15 Year Fixed Rate Refi | 2024-10-24 | 6.11% |
Hutchinson 30 Year FHA | 2024-10-24 | 6.6% |
Hutchinson 30 Year FHA Refi | 2024-10-24 | 6.15% |
Hutchinson 30 Year USDA | 2024-10-24 | 6.49% |
Hutchinson 30 Year USDA Refi | 2024-10-24 | 6.09% |
Hutchinson 30 Year VA | 2024-10-24 | 6.04% |
Hutchinson 30 Year VA Refi | 2024-10-24 | 6.24% |
Hutchinson 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 Hutchinson, KS 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.).
Hutchinson Average Closing Costs & Other Stats
Hutchinson, KS's 57 lenders originated 893
loans during 2023. The total origination value was $111,325,000, with an average loan value of
$124,664.
Hutchinson's average closing costs are $3,696.
The top Hutchinson lender as defined by loan originations is HEARTLAND CREDIT UNION, with
61 loans originated. Their average total fees are
$2,987, which is $1,309
lower than the next largest lender,
PRIMARY RESIDENTIAL MORTGAGE, INC..
The lowest fee Hutchinson lenders (with over 10 loans originated) are
HEARTLAND CREDIT UNION ($2,987), OPEN MORTGAGE, LLC ($3,910), PRIMARY RESIDENTIAL MORTGAGE, INC. ($4,296), QUICKEN LOANS, LLC ($5,279) and .
The lowest rate Hutchinson lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.73%), OPEN MORTGAGE, LLC (6.92%), PRIMARY RESIDENTIAL MORTGAGE, INC. (6.94%), HEARTLAND CREDIT UNION (7.15%) and .
Hutchinson, KS 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 |
---|---|---|---|---|
PRIMARY RESIDENTIAL MORTGAGE, INC. | $17,550,000 | $11,500,000 | -34.5% | 10.3% |
HEARTLAND CREDIT UNION | $17,040,000 | $11,145,000 | -34.6% | 10.0% |
QUICKEN LOANS, LLC | $7,275,000 | $5,110,000 | -29.8% | 4.6% |
OPEN MORTGAGE, LLC | $7,175,000 | $3,595,000 | -49.9% | 3.2% |
Mortgage Research Center, LLC | $2,810,000 | $3,405,000 | 21.2% | 3.1% |
RCB Bank | $5,235,000 | $2,790,000 | -46.7% | 2.5% |
CREDIT UNION OF AMERICA | $7,890,000 | $2,380,000 | -69.8% | 2.1% |
UNITED WHOLESALE MORTGAGE, LLC | $2,270,000 | $2,050,000 | -9.7% | 1.8% |
FLAT BRANCH MORTGAGE, INC. | $1,325,000 | $1,660,000 | 25.3% | 1.5% |
The Citizens State Bank | $455,000 | $1,660,000 | 264.8% | 1.5% |
Gateway First Bank | $2,470,000 | $1,570,000 | -36.4% | 1.4% |
MERITRUST Federal Credit Union | $1,280,000 | $1,275,000 | -0.4% | 1.1% |
Commerce Bank | $1,110,000 | $1,265,000 | 14.0% | 1.1% |
Flagstar Bank, FSB | $485,000 | $1,185,000 | 144.3% | 1.1% |
Envista Credit Union | $1,285,000 | $1,030,000 | -19.8% | 0.9% |
ARK-LA-TEX FINANCIAL SERVICES, LLC. | $970,000 | n/a | 0.9% | |
Sierra Pacific Mortgage Company, Inc. | $440,000 | $850,000 | 93.2% | 0.8% |
NAVY FEDERAL CREDIT UNION | $935,000 | $795,000 | -15.0% | 0.7% |
USAA Federal Savings Bank | $550,000 | $785,000 | 42.7% | 0.7% |
FREEDOM MORTGAGE CORPORATION | $1,935,000 | $745,000 | -61.5% | 0.7% |
PENNYMAC LOAN SERVICES, LLC | $665,000 | $735,000 | 10.5% | 0.7% |
Exchange Bank of Missouri | $285,000 | $705,000 | 147.4% | 0.6% |
Capitol Federal Savings Bank | $1,260,000 | $575,000 | -54.4% | 0.5% |
Mr. Cooper ( Nationstar Mortgage ) | $1,570,000 | $545,000 | -65.3% | 0.5% |
Central National Bank | $510,000 | n/a | 0.5% | |
Emprise Bank | $1,310,000 | $505,000 | -61.5% | 0.5% |
Regent Financial Group, Inc. | $655,000 | $470,000 | -28.2% | 0.4% |
PENTAGON FEDERAL CREDIT UNION | $450,000 | n/a | 0.4% | |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $855,000 | $435,000 | -49.1% | 0.4% |
U.S. Bank | $120,000 | $435,000 | 262.5% | 0.4% |
ZILLOW HOME LOANS, LLC | $405,000 | n/a | 0.4% | |
Wells Fargo Bank | $1,410,000 | $400,000 | -71.6% | 0.4% |
Bankers' Bank | $395,000 | n/a | 0.4% | |
CROSSCOUNTRY MORTGAGE, LLC | $230,000 | $380,000 | 65.2% | 0.3% |
Community National Bank & Trust | $1,045,000 | $375,000 | -64.1% | 0.3% |
Plains Commerce Bank | $450,000 | $350,000 | -22.2% | 0.3% |
Equity Bank | $335,000 | n/a | 0.3% | |
LOANDEPOT.COM, LLC | $805,000 | $335,000 | -58.4% | 0.3% |
BOKF | $330,000 | n/a | 0.3% | |
Neighborhood Loans, Inc. | $330,000 | n/a | 0.3% | |
Garden Plain State Bank | $1,090,000 | $320,000 | -70.6% | 0.3% |
Members Mortgage Services, L.L.C. | $2,430,000 | $305,000 | -87.4% | 0.3% |
LEADERONE FINANCIAL CORPORATION | $230,000 | $285,000 | 23.9% | 0.3% |
NBH Bank | $415,000 | $285,000 | -31.3% | 0.3% |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $515,000 | $285,000 | -44.7% | 0.3% |
First Savings Bank | $280,000 | n/a | 0.3% | |
US MORTGAGE CORPORATION | $105,000 | $280,000 | 166.7% | 0.3% |
VALLEY STATE BANK | $85,000 | $270,000 | 217.6% | 0.2% |
NEWREZ LLC | $275,000 | $260,000 | -5.5% | 0.2% |
LAKEVIEW LOAN SERVICING, LLC | $330,000 | $255,000 | -22.7% | 0.2% |
MUTUAL OF OMAHA MORTGAGE, INC. | $430,000 | $250,000 | -41.9% | 0.2% |
The Bennington State Bank | $160,000 | $250,000 | 56.3% | 0.2% |
Andover State Bank | $245,000 | n/a | 0.2% | |
MAINSTREET FEDERAL CREDIT UNION | $235,000 | n/a | 0.2% | |
LOANPAL, LLC | $230,000 | n/a | 0.2% | |
MORTGAGE SOLUTIONS OF COLORADO, LLC | $230,000 | n/a | 0.2% | |
21ST MORTGAGE CORPORATION | $180,000 | $225,000 | 25.0% | 0.2% |
FINANCE OF AMERICA REVERSE LLC | $225,000 | n/a | 0.2% | |
DAS Acquisition Company, LLC | $105,000 | $215,000 | 104.8% | 0.2% |
Mid-America Bank | $215,000 | n/a | 0.2% | |
PANHANDLE FEDERAL CREDIT UNION | $215,000 | n/a | 0.2% | |
AmRes Corporation | $205,000 | n/a | 0.2% | |
GUILD MORTGAGE COMPANY | $205,000 | n/a | 0.2% | |
Bank of America | $630,000 | $200,000 | -68.3% | 0.2% |
BMO Harris Bank | $200,000 | n/a | 0.2% | |
MID AMERICAN | $85,000 | $200,000 | 135.3% | 0.2% |
BM Real Estate Services, Inc. | $185,000 | n/a | 0.2% | |
CORNERSTONE HOME LENDING, INC. | $185,000 | n/a | 0.2% | |
MID AMERICA MORTGAGE, INC. | $105,000 | $185,000 | 76.2% | 0.2% |
United Fidelity Funding Corp. | $185,000 | n/a | 0.2% | |
Legacy Bank | $75,000 | $180,000 | 140.0% | 0.2% |
Wichita Federal Credit Union | $370,000 | $165,000 | -55.4% | 0.1% |
CARDINAL FINANCIAL | $155,000 | n/a | 0.1% | |
AMERISAVE MORTGAGE CORPORATION | $955,000 | $145,000 | -84.8% | 0.1% |
BROKER SOLUTIONS, INC. | $75,000 | $140,000 | 86.7% | 0.1% |
Simmons Bank | $520,000 | $140,000 | -73.1% | 0.1% |
GSF Mortgage Corporation | $135,000 | n/a | 0.1% | |
GUARANTEED RATE, INC. | $135,000 | n/a | 0.1% | |
SPRING EQ, LLC | $45,000 | $130,000 | 188.9% | 0.1% |
The Halstead Bank | $355,000 | $130,000 | -63.4% | 0.1% |
Deere Employees Credit Union | $25,000 | $125,000 | 400.0% | 0.1% |
PLANET HOME LENDING, LLC | $125,000 | n/a | 0.1% | |
Citizens State Bank of Cheney | $105,000 | n/a | 0.1% | |
COMMUNITYAMERICA | $105,000 | n/a | 0.1% | |
The Federal Savings Bank | $105,000 | n/a | 0.1% | |
Coastal Community Bank | $100,000 | n/a | 0.1% | |
Discover Bank | $260,000 | $100,000 | -61.5% | 0.1% |
AMERICAN FINANCIAL NETWORK, INC. | $95,000 | n/a | 0.1% | |
ANGEL OAK MORTGAGE SOLUTIONS LLC | $95,000 | n/a | 0.1% | |
Ally Bank | $85,000 | n/a | 0.1% | |
Sunflower Bank | $125,000 | $85,000 | -32.0% | 0.1% |
The Union State Bank | $360,000 | $85,000 | -76.4% | 0.1% |
Great Plains Federal Credit Un | $75,000 | n/a | 0.1% | |
Honor Credit Union | $75,000 | n/a | 0.1% | |
LIMA ONE CAPITAL, LLC | $75,000 | n/a | 0.1% | |
North American Savings Bank, F.S.B. | $245,000 | $75,000 | -69.4% | 0.1% |
ROYAL UNITED MORTGAGE LLC | $65,000 | $75,000 | 15.4% | 0.1% |
Landmark National Bank | $1,615,000 | $65,000 | -96.0% | 0.1% |
Peoples Bank & Trust Company of Pointe Coupee Parish, Inc | $65,000 | n/a | 0.1% | |
Figure Lending LLC | $60,000 | n/a | 0.1% | |
Bank of Commerce and Trust Company | $55,000 | n/a | 0.0% | |
NBKC BANK | $55,000 | n/a | 0.0% | |
The Huntington National Bank | $55,000 | n/a | 0.0% | |
AMERICAN FINANCING CORPORATION | $275,000 | $45,000 | -83.6% | 0.0% |
COMMUNICATION | $45,000 | n/a | 0.0% | |
Fidelity Bank | $645,000 | $45,000 | -93.0% | 0.0% |
GNBank | $45,000 | n/a | 0.0% | |
JPMorgan Chase Bank | $180,000 | $45,000 | -75.0% | 0.0% |
KS StateBank | $440,000 | $45,000 | -89.8% | 0.0% |
QUANTUM CREDIT UNION | $45,000 | n/a | 0.0% | |
Signature Federal Credit Union | $45,000 | n/a | 0.0% | |
Citizens Bank of Kansas | $675,000 | $15,000 | -97.8% | 0.0% |
Hutchinson's top lender by overall market share is PRIMARY RESIDENTIAL MORTGAGE, INC., with 10.3% market share. In second place, with 10.0%, is HEARTLAND CREDIT UNION, having originated $11,145,000 in loans. In third place, with 4.6%, is QUICKEN LOANS, LLC, having originated $5,110,000 in loans. In fourth place, with 3.2%, is OPEN MORTGAGE, LLC, having originated $3,595,000 in loans. In fifth place, with 3.1%, is Mortgage Research Center, LLC, having originated $3,405,000 in loans.
Hutchinson, KS Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 569 | $82,905,000 | $145,703 |
Refi | 133 | $15,265,000 | $114,774 |
Cash Out Refi | 71 | $7,635,000 | $107,535 |
Home Improvement | 64 | $2,750,000 | $42,969 |
Other | 56 | $2,770,000 | $49,464 |
Hutchinson's most frequently cited loan purpose was Home Purchase, with 569 originations. The 2nd most popular reason was Refi, with 133 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 293 | $41,655,000 | $142,167 |
7-8% | 196 | $25,340,000 | $129,286 |
Over 8% | 141 | $9,535,000 | $67,624 |
5-6% | 61 | $9,585,000 | $157,131 |
4-5% | 5 | $1,045,000 | $209,000 |
2.5-3% | 3 | $145,000 | $48,333 |
3-4% | 1 | $135,000 | $135,000 |
During 2023, Hutchinson's most frequently originated rate bucket was 6-7%, with 293 originations.
Loan Sizing (Hutchinson, KS MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 439 | $23,435,000 | $53,383 |
$100k-200k | 308 | $43,440,000 | $141,039 |
$200k-400k | 126 | $32,560,000 | $258,413 |
$400k-600k | 14 | $6,160,000 | $440,000 |
$600k-1000k | 4 | $2,970,000 | $742,500 |
$Over $1MM | 2 | $2,760,000 | $1,380,000 |
Hutchinson's loan sizing saw the bucket of loans from $100,000 or less with 439 originations, totaling $23,435,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 366 | $54,630,000 | $149,262 |
60-80% | 151 | $19,065,000 | $126,258 |
40-60% | 66 | $6,780,000 | $102,727 |
20-40% | 56 | $3,320,000 | $59,286 |
Under 20% | 54 | $1,970,000 | $36,481 |
Over 100% | 7 | $1,675,000 | $239,286 |
Hutchinson's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 366 originations, totaling $54,630,000 in origination value.