Indianola Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Indianola averaged 6.87% for the week of 2025-07-03, compared to the national average of 6.67% for the same period.

The average rate for the prior week (2025-06-26) was 6.67% and one month ago for the week of 2025-05-29, the average rate was 6.69%.

Indianola's average rate one year ago was 6.86%.

For refis of the same type during the week of 2025-07-03, the average rate was 7.17%.

Loan Type Date Rate
US 30 Year Fixed Rate 2025-07-03 6.67%
Indianola 30 Year Fixed Rate 2025-07-03 6.87%
Indianola 30 Year Fixed Rate Refi 2025-07-03 7.17%
Indianola 15 Year Fixed Rate 2025-07-03 5.6%
Indianola 15 Year Fixed Rate Refi 2025-07-03 5.8%
Indianola 30 Year FHA 2025-07-03 -0.1%
Indianola 30 Year FHA Refi 2025-07-03 0.2%
Indianola 30 Year USDA 2025-07-03 -0.1%
Indianola 30 Year USDA Refi 2025-07-03 0.2%
Indianola 30 Year VA 2025-07-03 0.2%
Indianola 30 Year VA Refi 2025-07-03 0.1%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Indianola, MS.

Indianola 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 Indianola, 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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
HOPE FEDERAL CREDIT UNION 5 6.48% $3,912
BancorpSouth 4 6.34% $5,400
QUICKEN LOANS, LLC 4 6.75% $3,726
FIRST COMMUNITY MORTGAGE, INC. 2 6.50% $2,799
Community Bank of Mississippi 2 6.31% $5,348
JPMorgan Chase Bank 2 5.88% $5,975
Trustmark National Bank 1 5.88% $5,197
UNION HOME MORTGAGE CORP. 1 5.63% $9,080
ACOPIA, LLC 1 5.88% $5,583
Wells Fargo Bank 1 6.88% $9,012
Bank of England 1 8.13% $5,600
Discover Bank 1 8.29% $0
First Horizon Bank 1 6.25% $3,577
Princeton Mortgage Corporation 1 6.99% $5,919
Regions Bank 1 7.00% $5,775

Indianola Average Closing Costs & Other Stats

Indianola, MS's 15 lenders originated 268 loans during 2024. The total origination value was $31,180,000, with an average loan value of $116,343.

Indianola's average closing costs are $4,940.

The top Indianola lender as defined by loan originations is HOPE FEDERAL CREDIT UNION, with 5 loans originated. Their average total fees are $3,912, which is $1,488 lower than the next largest lender, BancorpSouth.

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

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

Indianola, 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 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC $7,015,000 n/a 22.5%
Community Bank of Mississippi $4,235,000 $4,785,000 13.0% 15.3%
Planters Bank & Trust Company $5,265,000 $4,415,000 -16.1% 14.2%
BankFirst Financial Services $2,210,000 n/a 7.1%
QUICKEN LOANS, LLC $1,485,000 $1,600,000 7.7% 5.1%
Southern Bancorp Bank $1,675,000 $1,485,000 -11.3% 4.8%
Guaranty Bank and Trust Company $925,000 $1,370,000 48.1% 4.4%
BancorpSouth $80,000 $1,010,000 1,162.5% 3.2%
Mortgage Research Center, LLC $115,000 $780,000 578.3% 2.5%
BankPlus $235,000 $485,000 106.4% 1.6%
FIRST COMMUNITY MORTGAGE, INC. $455,000 n/a 1.5%
MORTGAGE SOLUTIONS OF COLORADO, LLC $420,000 n/a 1.3%
Magnolia Bank $290,000 n/a 0.9%
UNION HOME MORTGAGE CORP. $285,000 n/a 0.9%
PriorityOne Bank $275,000 n/a 0.9%
HOPE FEDERAL CREDIT UNION $270,000 n/a 0.9%
LAKEVIEW LOAN SERVICING, LLC $245,000 n/a 0.8%
JPMorgan Chase Bank $240,000 n/a 0.8%
Wells Fargo Bank $235,000 n/a 0.8%
Flagstar Bank, FSB $180,000 $230,000 27.8% 0.7%
Trustmark National Bank $450,000 $230,000 -48.9% 0.7%
Princeton Mortgage Corporation $215,000 n/a 0.7%
Nations Lending Corporation $195,000 n/a 0.6%
BROKER SOLUTIONS, INC. $85,000 $165,000 94.1% 0.5%
NEW DAY FINANCIAL, LLC $155,000 n/a 0.5%
PENNYMAC LOAN SERVICES, LLC $245,000 $155,000 -36.7% 0.5%
Regions Bank $120,000 $150,000 25.0% 0.5%
Barrington Bank & Trust Company, N.A. $125,000 $145,000 16.0% 0.5%
TRIAD FINANCIAL SERVICES, INC. $145,000 n/a 0.5%
LOANDEPOT.COM, LLC $105,000 $130,000 23.8% 0.4%
EVERETT FINANCIAL, INC. $125,000 n/a 0.4%
FIDELITY BANK $125,000 n/a 0.4%
NAVY FEDERAL CREDIT UNION $120,000 n/a 0.4%
American Mortgage Bank, LLC $110,000 n/a 0.4%
ACOPIA, LLC $105,000 n/a 0.3%
Assurance Financial Group, L.L.C. $100,000 n/a 0.3%
First Horizon Bank $95,000 n/a 0.3%
Discover Bank $80,000 $85,000 6.3% 0.3%
NEWREZ LLC $110,000 $80,000 -27.3% 0.3%
Bank of England $320,000 $55,000 -82.8% 0.2%
Renasant Bank $245,000 $55,000 -77.6% 0.2%
Century Mortgage Company DBA Century Lending Company $45,000 n/a 0.1%

Indianola's top lender by overall market share is BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC, with 22.5% market share. In second place, with 15.3%, is Community Bank of Mississippi, having originated $4,785,000 in loans. In third place, with 14.2%, is Planters Bank & Trust Company, having originated $4,415,000 in loans. In fourth place, with 7.1%, is BankFirst Financial Services, having originated $2,210,000 in loans. In fifth place, with 5.1%, is QUICKEN LOANS, LLC, having originated $1,600,000 in loans.

Indianola, MS Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Refi 116 $6,500,000 $56,034
Home Purchase 99 $14,105,000 $142,475
Home Improvement 24 $1,150,000 $47,917
Other 19 $1,245,000 $65,526
Cash Out Refi 9 $1,165,000 $129,444
NA 1 $7,015,000 $7,015,000

Indianola's most frequently cited loan purpose was Refi, with 116 originations. The 2nd most popular reason was Home Purchase, with 99 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
Over 8% 147 $9,505,000 $64,660
6-7% 51 $5,885,000 $115,392
7-8% 29 $5,385,000 $185,690
5-6% 15 $1,935,000 $129,000
<2.5% 6 $60,000 $10,000
4-5% 1 $25,000 $25,000

During 2024, Indianola's most frequently originated rate bucket was Over 8%, with 147 originations.

Loan Sizing (Indianola, MS MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 181 $7,825,000 $43,232
$100k-200k 64 $8,460,000 $132,188
$200k-400k 18 $4,710,000 $261,667
$400k-600k 2 $960,000 $480,000
$Over $1MM 2 $8,340,000 $4,170,000
$600k-1000k 1 $885,000 $885,000

Indianola's loan sizing saw the bucket of loans from $100,000 or less with 181 originations, totaling $7,825,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 71 $10,285,000 $144,859
60-80% 63 $7,745,000 $122,937
20-40% 50 $1,860,000 $37,200
40-60% 34 $2,040,000 $60,000
Under 20% 21 $355,000 $16,905
Over 100% 2 $240,000 $120,000

Indianola's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 71 originations, totaling $10,285,000 in origination value.