Hutchinson Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Hutchinson averaged 6.89% for the week of 2024-11-07, compared to the national average of 6.79% for the same period.

    The average rate for the prior week (2024-10-31) was 6.62% and one month ago for the week of 2024-10-03, the average rate was 6.12%.

    Hutchinson's average rate one year ago was 7.66%.

    For refis of the same type during the week of 2024-11-07, the average rate was 7.19%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-11-07 6.79%
    Hutchinson 30 Year Fixed Rate 2024-11-07 6.89%
    Hutchinson 30 Year Fixed Rate Refi 2024-11-07 7.19%
    Hutchinson 15 Year Fixed Rate 2024-11-07 5.9%
    Hutchinson 15 Year Fixed Rate Refi 2024-11-07 5.9%
    Hutchinson 30 Year FHA 2024-11-07 6.63%
    Hutchinson 30 Year FHA Refi 2024-11-07 6.23%
    Hutchinson 30 Year USDA 2024-11-07 6.28%
    Hutchinson 30 Year USDA Refi 2024-11-07 6.58%
    Hutchinson 30 Year VA 2024-11-07 6.24%
    Hutchinson 30 Year VA Refi 2024-11-07 6.34%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Hutchinson, MN.

    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, MN 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
    CORTRUST MORTGAGE, INC. 37 6.52% $6,216
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 24 6.71% $7,260
    Summit Mortgage Corporation 22 6.91% $5,561
    UNITED WHOLESALE MORTGAGE, LLC 17 7.13% $5,545
    QUICKEN LOANS, LLC 15 6.72% $8,283
    Servion, Inc. 10 6.75% $4,955
    CROSSCOUNTRY MORTGAGE, LLC 10 6.79% $6,386
    Bell Bank 10 7.02% $5,613
    Prosperity Home Mortgage, LLC 8 6.66% $4,901
    BAY EQUITY LLC 6 6.79% $5,228
    BROKER SOLUTIONS, INC. 6 7.12% $6,723
    Wells Fargo Bank 6 7.06% $5,485
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 7.20% $4,919
    PENNYMAC LOAN SERVICES, LLC 5 6.75% $5,134
    Barrington Bank & Trust Company, N.A. 4 6.59% $4,965
    U.S. Bank 4 6.50% $4,647
    Bremer Bank 4 6.53% $6,939
    Mr. Cooper ( Nationstar Mortgage ) 3 6.71% $8,651
    GUARANTEED RATE, INC. 3 6.03% $7,756
    CRESCENT MORTGAGE COMPANY 3 7.38% $4,311
    Flagstar Bank, FSB 3 7.12% $6,657
    TRUSTONE FINANCIAL FEDERAL CREDIT UNION 3 6.37% $3,905
    Royal Credit Union 2 8.19% $8,786
    Neighborhood Loans, Inc. 2 6.69% $6,794
    NEWREZ LLC 2 7.25% $5,953
    Old National Bank 2 6.81% $3,786
    COMPEER FINANCIAL, FLCA 2 7.75% $3,806
    TOPLINE FEDERAL CREDIT UNION 2 5.88% $4,783
    First Savings Bank 2 6.81% $4,237
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.88% $8,929
    Bank of England 2 6.69% $6,084
    WINGS FINANCIAL 1 7.25% $3,282
    American Mortgage & Equity Consultants, Inc. 1 7.13% $5,432
    AMERITRUST MORTGAGE CORPORATION 1 7.13% $5,326
    AXIA FINANCIAL, LLC 1 6.25% $7,515
    Cambria Financial Group, LLC 1 6.50% $4,455
    CENTRAL MINNESOTA Credit Union 1 6.63% $3,458
    Citizens Bank Minnesota 1 5.50% $4,510
    Deere Employees Credit Union 1 6.50% $3,590
    Discover Bank 1 6.99% $0
    DRAPER AND KRAMER MORTGAGE CORP. 1 7.25% $5,049
    EVERETT FINANCIAL, INC. 1 6.38% $4,363
    First Bank & Trust 1 5.75% $8,230
    First National Bank of America 1 8.88% $7,164
    Frandsen Bank & Trust 1 8.17% $5,508
    FREEDOM MORTGAGE CORPORATION 1 6.75% $5,039
    IOWA BANKERS MORTGAGE CORPORATION 1 6.38% $3,421
    Ixonia Bank 1 7.25% $3,939
    MOVEMENT MORTGAGE, LLC 1 6.88% $7,362
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.88% $5,385
    Nations Lending Corporation 1 7.88% $4,253
    Nicolet National Bank 1 6.75% $3,672
    Northpointe Bank 1 6.63% $4,277
    Northview Bank 1 7.13% $4,937
    SIRVA MORTGAGE, INC. 1 7.88% $0
    SUPERIOR CHOICE 1 6.19% $7,015
    The Huntington National Bank 1 7.25% $11,541
    Tradition Mortgage, LLC 1 5.88% $2,780
    Alerus Financial 1 6.38% $2,785

    Hutchinson Average Closing Costs & Other Stats

    Hutchinson, MN's 59 lenders originated 652 loans during 2023. The total origination value was $145,220,000, with an average loan value of $222,730.

    Hutchinson's average closing costs are $4,916.

    The top Hutchinson lender as defined by loan originations is CORTRUST MORTGAGE, INC., with 37 loans originated. Their average total fees are $6,216, which is $1,044 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Hutchinson lenders (with over 10 loans originated) are Servion, Inc. ($4,955), UNITED WHOLESALE MORTGAGE, LLC ($5,545), Summit Mortgage Corporation ($5,561), Bell Bank ($5,613) and CORTRUST MORTGAGE, INC. ($6,216).

    The lowest rate Hutchinson lenders (with over 10 loans originated) are CORTRUST MORTGAGE, INC. (6.52%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.71%), QUICKEN LOANS, LLC (6.72%), Servion, Inc. (6.75%) and CROSSCOUNTRY MORTGAGE, LLC (6.79%).

    Hutchinson, MN 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
    GREYSTONE FUNDING COMPANY LLC $13,635,000 n/a 9.4%
    UNITED WHOLESALE MORTGAGE, LLC $10,265,000 $10,845,000 5.7% 7.5%
    CORTRUST MORTGAGE, INC. $11,995,000 $10,490,000 -12.5% 7.2%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $12,310,000 $8,085,000 -34.3% 5.6%
    Summit Mortgage Corporation $6,390,000 $7,870,000 23.2% 5.4%
    QUICKEN LOANS, LLC $8,285,000 $6,295,000 -24.0% 4.3%
    BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC $6,005,000 n/a 4.1%
    BROKER SOLUTIONS, INC. $8,425,000 $4,490,000 -46.7% 3.1%
    Bell Bank $5,130,000 $4,260,000 -17.0% 2.9%
    Prosperity Home Mortgage, LLC $3,035,000 $3,685,000 21.4% 2.5%
    CROSSCOUNTRY MORTGAGE, LLC $3,780,000 $3,595,000 -4.9% 2.5%
    Security Bank & Trust Company $3,430,000 n/a 2.4%
    CorTrust Bank $2,545,000 $3,390,000 33.2% 2.3%
    SOUTHPOINT FINANCIAL $1,955,000 $3,340,000 70.8% 2.3%
    Bridgewater Bank $2,900,000 n/a 2.0%
    U.S. Bank $3,015,000 $2,425,000 -19.6% 1.7%
    PENNYMAC LOAN SERVICES, LLC $4,050,000 $2,395,000 -40.9% 1.6%
    Mortgage Research Center, LLC $2,120,000 $2,225,000 5.0% 1.5%
    BAY EQUITY LLC $1,025,000 $2,080,000 102.9% 1.4%
    Servion, Inc. $2,250,000 $2,020,000 -10.2% 1.4%
    Bremer Bank $1,535,000 $1,625,000 5.9% 1.1%
    Wells Fargo Bank $4,885,000 $1,585,000 -67.6% 1.1%
    Old National Bank $3,095,000 $1,495,000 -51.7% 1.0%
    The Huntington National Bank $400,000 $1,455,000 263.8% 1.0%
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $1,190,000 $1,270,000 6.7% 0.9%
    Mr. Cooper ( Nationstar Mortgage ) $1,085,000 $1,210,000 11.5% 0.8%
    GUARANTEED RATE, INC. $1,360,000 $1,115,000 -18.0% 0.8%
    AMERICAN PACIFIC MORTGAGE CORPORATION $1,035,000 n/a 0.7%
    TRUSTONE FINANCIAL FEDERAL CREDIT UNION $2,250,000 $985,000 -56.2% 0.7%
    NOVATION CREDIT UNION $1,525,000 $975,000 -36.1% 0.7%
    LOANDEPOT.COM, LLC $1,660,000 $895,000 -46.1% 0.6%
    Barrington Bank & Trust Company, N.A. $890,000 n/a 0.6%
    Flagstar Bank, FSB $2,015,000 $875,000 -56.6% 0.6%
    Center National Bank $350,000 $850,000 142.9% 0.6%
    MOVEMENT MORTGAGE, LLC $205,000 $825,000 302.4% 0.6%
    Bank of England $675,000 $765,000 13.3% 0.5%
    LAKEVIEW LOAN SERVICING, LLC $1,225,000 $745,000 -39.2% 0.5%
    Flagship Banks Minnesota $1,960,000 $725,000 -63.0% 0.5%
    Associated Bank $425,000 $715,000 68.2% 0.5%
    NEW DAY FINANCIAL, LLC $145,000 $700,000 382.8% 0.5%
    HomeTown Bank $930,000 $655,000 -29.6% 0.5%
    EVERETT FINANCIAL, INC. $1,845,000 $640,000 -65.3% 0.4%
    COMPEER FINANCIAL, FLCA $1,735,000 $620,000 -64.3% 0.4%
    SIRVA MORTGAGE, INC. $285,000 $610,000 114.0% 0.4%
    Discover Bank $100,000 $590,000 490.0% 0.4%
    CRESCENT MORTGAGE COMPANY $585,000 n/a 0.4%
    Royal Credit Union $660,000 $585,000 -11.4% 0.4%
    TOPLINE FEDERAL CREDIT UNION $280,000 $540,000 92.9% 0.4%
    Kensington Bank $490,000 n/a 0.3%
    Neighborhood Loans, Inc. $490,000 n/a 0.3%
    NEWREZ LLC $1,260,000 $480,000 -61.9% 0.3%
    MID AMERICA MORTGAGE, INC. $460,000 n/a 0.3%
    SPIRE Credit Union $305,000 $445,000 45.9% 0.3%
    FREEDOM MORTGAGE CORPORATION $2,450,000 $440,000 -82.0% 0.3%
    American Mortgage & Equity Consultants, Inc. $955,000 $380,000 -60.2% 0.3%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $165,000 $375,000 127.3% 0.3%
    AXIA FINANCIAL, LLC $145,000 $370,000 155.2% 0.3%
    ACHIEVA CREDIT UNION $365,000 n/a 0.3%
    First Bank & Trust $165,000 $360,000 118.2% 0.2%
    Sherburne State Bank $345,000 n/a 0.2%
    Cambria Financial Group, LLC $1,500,000 $340,000 -77.3% 0.2%
    First Savings Bank $2,125,000 $340,000 -84.0% 0.2%
    WINGS FINANCIAL $1,125,000 $340,000 -69.8% 0.2%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $225,000 $320,000 42.2% 0.2%
    SUPERIOR CHOICE $315,000 n/a 0.2%
    BANKWEST, INC. $295,000 n/a 0.2%
    CENTRAL MINNESOTA Credit Union $285,000 n/a 0.2%
    CITY FIRST MORTGAGE SERVICES, L.L.C. $285,000 n/a 0.2%
    CHURCHILL MORTGAGE CORPORATION $330,000 $275,000 -16.7% 0.2%
    AFFINITY PLUS $415,000 $270,000 -34.9% 0.2%
    Alerus Financial $7,120,000 $270,000 -96.2% 0.2%
    Northpointe Bank $270,000 n/a 0.2%
    Northview Bank $265,000 n/a 0.2%
    South Story Bank & Trust $265,000 n/a 0.2%
    USAA Federal Savings Bank $580,000 $265,000 -54.3% 0.2%
    GSF Mortgage Corporation $195,000 $255,000 30.8% 0.2%
    First State Bank of Le Center $250,000 n/a 0.2%
    Coastal Community Bank $240,000 n/a 0.2%
    Nations Lending Corporation $125,000 $240,000 92.0% 0.2%
    AgCountry Farm Credit Services, FLCA $235,000 n/a 0.2%
    Frandsen Bank & Trust $35,000 $235,000 571.4% 0.2%
    Ixonia Bank $400,000 $235,000 -41.3% 0.2%
    Citizens Bank Minnesota $325,000 $230,000 -29.2% 0.2%
    IOWA BANKERS MORTGAGE CORPORATION $415,000 $225,000 -45.8% 0.2%
    Nicolet National Bank $585,000 $225,000 -61.5% 0.2%
    Deere Employees Credit Union $215,000 n/a 0.1%
    AMERITRUST MORTGAGE CORPORATION $195,000 n/a 0.1%
    Choice Financial Group $195,000 n/a 0.1%
    DRAPER AND KRAMER MORTGAGE CORP. $405,000 $190,000 -53.1% 0.1%
    First Federal Bank $185,000 n/a 0.1%
    NAVY FEDERAL CREDIT UNION $285,000 $180,000 -36.8% 0.1%
    21ST MORTGAGE CORPORATION $450,000 $175,000 -61.1% 0.1%
    First National Bank of America $175,000 n/a 0.1%
    CARDINAL FINANCIAL $1,695,000 $165,000 -90.3% 0.1%
    The First National Bank of Le Center $165,000 n/a 0.1%
    CONTOUR MORTGAGE CORPORATION $155,000 n/a 0.1%
    Union State Bank of Fargo $135,000 n/a 0.1%
    Deerwood Bank $35,000 $120,000 242.9% 0.1%
    AMERISAVE MORTGAGE CORPORATION $740,000 $115,000 -84.5% 0.1%
    BankVista $300,000 $105,000 -65.0% 0.1%
    Centier Bank $105,000 n/a 0.1%
    Tradition Mortgage, LLC $745,000 $95,000 -87.2% 0.1%
    HIWAY $320,000 $75,000 -76.6% 0.1%
    MUTUAL OF OMAHA MORTGAGE, INC. $495,000 $75,000 -84.8% 0.1%
    South Metro Federal Credit Union $75,000 n/a 0.1%
    Bank of America $65,000 n/a 0.0%
    Figure Lending LLC $60,000 $60,000 0.0% 0.0%
    Carrington Mortgage Services, LLC $875,000 $55,000 -93.7% 0.0%
    Connexus Credit Union $55,000 n/a 0.0%
    Baxter Credit Union $180,000 $35,000 -80.6% 0.0%
    TRIAD FINANCIAL SERVICES, INC. $35,000 n/a 0.0%
    Citizens Alliance Bank $665,000 $25,000 -96.2% 0.0%

    Hutchinson's top lender by overall market share is GREYSTONE FUNDING COMPANY LLC, with 9.4% market share. In second place, with 7.5%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $10,845,000 in loans. In third place, with 7.2%, is CORTRUST MORTGAGE, INC., having originated $10,490,000 in loans. In fourth place, with 5.6%, is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, having originated $8,085,000 in loans. In fifth place, with 5.4%, is Summit Mortgage Corporation, having originated $7,870,000 in loans.

    Hutchinson, MN Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 423 $96,225,000 $227,482
    Home Improvement 64 $3,400,000 $53,125
    Other 59 $4,445,000 $75,339
    Cash Out Refi 57 $11,835,000 $207,632
    Refi 48 $23,310,000 $485,625
    NA 1 $6,005,000 $6,005,000

    Hutchinson's most frequently cited loan purpose was Home Purchase, with 423 originations. The 2nd most popular reason was Home Improvement, with 64 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 266 $60,550,000 $227,632
    7-8% 125 $27,085,000 $216,680
    Over 8% 69 $5,395,000 $78,188
    5-6% 66 $14,790,000 $224,091
    <2.5% 9 $395,000 $43,889
    4-5% 7 $14,525,000 $2,075,000

    During 2023, Hutchinson's most frequently originated rate bucket was 6-7%, with 266 originations.

    Loan Sizing (Hutchinson, MN MSA)

    Loan Size Originations Total Value Average Loan
    $200k-400k 243 $64,915,000 $267,140
    $100k-200k 185 $28,515,000 $154,135
    $100,000 or less 182 $9,110,000 $50,055
    $400k-600k 31 $14,505,000 $467,903
    $600k-1000k 6 $4,430,000 $738,333
    $Over $1MM 5 $23,745,000 $4,749,000

    Hutchinson's loan sizing saw the bucket of loans from $200k-400k with 243 originations, totaling $64,915,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 262 $65,020,000 $248,168
    60-80% 108 $28,140,000 $260,556
    Under 20% 78 $2,990,000 $38,333
    20-40% 55 $4,195,000 $76,273
    40-60% 33 $19,905,000 $603,182
    Over 100% 7 $2,045,000 $292,143

    Hutchinson's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 262 originations, totaling $65,020,000 in origination value.