Indianola Mortgage Rates & Closing Costs
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% |
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.