Iron Mountain Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Iron Mountain averaged
6.87%
for the week of 2023-03-16, compared to the national average of
6.6% for the same period.
The average rate for the prior week (2023-03-09) was
7.1% and
one month ago for the week of 2023-02-09, the
average rate was 6.09%.
Iron Mountain's average rate one year ago was 4.02%.
For refis of the same type during the week of 2023-03-16, the average rate
was 6.55%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-03-16 | 6.6% |
Iron Mountain 30 Year Fixed Rate | 2023-03-16 | 6.87% |
Iron Mountain 30 Year Fixed Rate Refi | 2023-03-16 | 6.55% |
Iron Mountain 15 Year Fixed Rate | 2023-03-16 | 5.95% |
Iron Mountain 15 Year Fixed Rate Refi | 2023-03-16 | 5.88% |
Iron Mountain 30 Year FHA | 2023-03-16 | 6.74% |
Iron Mountain 30 Year FHA Refi | 2023-03-16 | 6.53% |
Iron Mountain 30 Year USDA | 2023-03-16 | 6.74% |
Iron Mountain 30 Year USDA Refi | 2023-03-16 | 6.37% |
Iron Mountain 30 Year VA | 2023-03-16 | 6.3% |
Iron Mountain 30 Year VA Refi | 2023-03-16 | 6.08% |
Iron Mountain 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 Iron Mountain, MI-WI 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.).
Iron Mountain Average Closing Costs & Other Stats
Iron Mountain, MI-WI's 62 lenders originated 595
loans during 2021. The total origination value was $83,585,000, with an average loan value of
$140,479.
Iron Mountain's average closing costs are $3,199.
The top Iron Mountain lender as defined by loan originations is QUICKEN LOANS, LLC, with
31 loans originated. Their average total fees are
$4,404, which is $2,195
higher than the next largest lender,
IncredibleBank.
The lowest fee Iron Mountain lenders (with over 10 loans originated) are
mBank ($2,004), IncredibleBank ($2,209), Flagstar Bank, FSB ($2,339), CoVantage Credit Union ($2,685) and Range Bank ($3,322).
The lowest rate Iron Mountain lenders (with over 10 loans originated) are
Range Bank (2.86%), IncredibleBank (3.10%), Flagstar Bank, FSB (3.10%), QUICKEN LOANS, LLC (3.12%) and CoVantage Credit Union (3.14%).
Iron Mountain, MI-WI 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 | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
---|---|---|---|---|
QUICKEN LOANS, LLC | $10,225,000 | $10,570,000 | 3.4% | 12.6% |
Range Bank | $11,230,000 | $8,010,000 | -28.7% | 9.6% |
IncredibleBank | $10,360,000 | $7,355,000 | -29.0% | 8.8% |
Flagstar Bank, FSB | $8,200,000 | $6,860,000 | -16.3% | 8.2% |
Mortgage Research Center, LLC | $1,730,000 | $4,935,000 | 185.3% | 5.9% |
CoVantage Credit Union | $3,865,000 | $4,675,000 | 21.0% | 5.6% |
mBank | $5,010,000 | $2,850,000 | -43.1% | 3.4% |
Wells Fargo Bank | $1,185,000 | $2,495,000 | 110.5% | 3.0% |
The Huntington National Bank | $1,625,000 | $2,060,000 | 26.8% | 2.5% |
UNITED WHOLESALE MORTGAGE, LLC | $835,000 | $1,910,000 | 128.7% | 2.3% |
Nicolet National Bank | $930,000 | $1,510,000 | 62.4% | 1.8% |
FREEDOM MORTGAGE CORPORATION | $675,000 | $1,425,000 | 111.1% | 1.7% |
Associated Bank | $1,625,000 | $1,340,000 | -17.5% | 1.6% |
NAVY FEDERAL CREDIT UNION | $1,015,000 | $935,000 | -7.9% | 1.1% |
FINANCE OF AMERICA MORTGAGE LLC | $945,000 | $900,000 | -4.8% | 1.1% |
USAA Federal Savings Bank | $1,610,000 | $900,000 | -44.1% | 1.1% |
PENNYMAC LOAN SERVICES, LLC | $245,000 | $885,000 | 261.2% | 1.1% |
HOME POINT FINANCIAL CORPORATION | $400,000 | $875,000 | 118.8% | 1.0% |
Barrington Bank & Trust Company, N.A. | $200,000 | $835,000 | 317.5% | 1.0% |
Old National Bank | $125,000 | $820,000 | 556.0% | 1.0% |
FOX COMMUNITIES | $455,000 | $795,000 | 74.7% | 1.0% |
BROKER SOLUTIONS, INC. | $300,000 | $695,000 | 131.7% | 0.8% |
U.S. Bank | $510,000 | $645,000 | 26.5% | 0.8% |
JPMorgan Chase Bank | $635,000 | $615,000 | -3.1% | 0.7% |
NEWREZ LLC | $305,000 | $550,000 | 80.3% | 0.7% |
LAKEVIEW LOAN SERVICING, LLC | $315,000 | $520,000 | 65.1% | 0.6% |
Mr. Cooper ( Nationstar Mortgage ) | $425,000 | $490,000 | 15.3% | 0.6% |
Servion, Inc. | $85,000 | $475,000 | 458.8% | 0.6% |
Tomahawk Community Bank SSB | $475,000 | n/a | 0.6% | |
Fortifi Bank | $395,000 | $440,000 | 11.4% | 0.5% |
HOMESIDE FINANCIAL, LLC | $415,000 | n/a | 0.5% | |
The Stephenson National Bank and Trust | $960,000 | $410,000 | -57.3% | 0.5% |
GUARANTEED RATE, INC. | $600,000 | $395,000 | -34.2% | 0.5% |
MUTUAL OF OMAHA MORTGAGE, INC. | $580,000 | $395,000 | -31.9% | 0.5% |
BMO Harris Bank | $240,000 | $390,000 | 62.5% | 0.5% |
Waterstone Mortgage Corporation | $390,000 | n/a | 0.5% | |
KS StateBank | $365,000 | n/a | 0.4% | |
Honor Credit Union | $430,000 | $360,000 | -16.3% | 0.4% |
LOANDEPOT.COM, LLC | $1,095,000 | $360,000 | -67.1% | 0.4% |
EVERETT FINANCIAL, INC. | $610,000 | $355,000 | -41.8% | 0.4% |
Johnson Bank | $865,000 | $350,000 | -59.5% | 0.4% |
GreenStone Farm Credit Services, FLCA | $155,000 | $335,000 | 116.1% | 0.4% |
Ally Bank | $115,000 | $325,000 | 182.6% | 0.4% |
River Bank | $305,000 | n/a | 0.4% | |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $385,000 | $295,000 | -23.4% | 0.4% |
PARKSIDE LENDING, LLC | $220,000 | $295,000 | 34.1% | 0.4% |
American National Bank - Fox Cities | $285,000 | n/a | 0.3% | |
PENTAGON FEDERAL CREDIT UNION | $135,000 | $285,000 | 111.1% | 0.3% |
Laona State Bank | $390,000 | $275,000 | -29.5% | 0.3% |
AMERISAVE MORTGAGE CORPORATION | $265,000 | $270,000 | 1.9% | 0.3% |
DAS Acquisition Company, LLC | $255,000 | n/a | 0.3% | |
North American Savings Bank, F.S.B. | $255,000 | n/a | 0.3% | |
Bank of America | $245,000 | n/a | 0.3% | |
GSF Mortgage Corporation | $245,000 | n/a | 0.3% | |
Summit Credit Union | $115,000 | $240,000 | 108.7% | 0.3% |
ACCELERATE MORTGAGE, LLC | $235,000 | n/a | 0.3% | |
S1L, Inc. | $235,000 | n/a | 0.3% | |
Denmark State Bank | $195,000 | $210,000 | 7.7% | 0.3% |
Community First Credit Union | $800,000 | $205,000 | -74.4% | 0.2% |
Fifth Third Bank | $470,000 | $205,000 | -56.4% | 0.2% |
THRIVENT Federal Credit Union | $205,000 | n/a | 0.2% | |
AMERICAN FINANCING CORPORATION | $265,000 | $185,000 | -30.2% | 0.2% |
Ameris Bank | $185,000 | n/a | 0.2% | |
GUARANTEED RATE AFFINITY, LLC | $185,000 | n/a | 0.2% | |
Prevail Bank | $185,000 | n/a | 0.2% | |
DRAPER AND KRAMER MORTGAGE CORP. | $175,000 | n/a | 0.2% | |
LAKE MICHIGAN CREDIT UNION | $105,000 | $175,000 | 66.7% | 0.2% |
INLANTA MORTGAGE, INC. | $105,000 | $165,000 | 57.1% | 0.2% |
PLANET HOME LENDING, LLC | $165,000 | n/a | 0.2% | |
Prosperity Home Mortgage, LLC | $165,000 | n/a | 0.2% | |
ZILLOW HOME LOANS, LLC | $355,000 | $165,000 | -53.5% | 0.2% |
MARINE | $130,000 | $160,000 | 23.1% | 0.2% |
AMERICAN PACIFIC MORTGAGE CORPORATION | $155,000 | n/a | 0.2% | |
FIRST STATE MORTGAGE SERVICES, LLC | $155,000 | n/a | 0.2% | |
Oostburg State Bank | $155,000 | $155,000 | 0.0% | 0.2% |
SCIENT Federal Credit Union | $155,000 | n/a | 0.2% | |
TOP FLITE FINANCIAL, INC. | $85,000 | $155,000 | 82.4% | 0.2% |
First Guaranty Mortgage Corporation | $75,000 | $145,000 | 93.3% | 0.2% |
Bank of Deerfield | $135,000 | n/a | 0.2% | |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $150,000 | $135,000 | -10.0% | 0.2% |
Carrington Mortgage Services, LLC | $135,000 | n/a | 0.2% | |
Low VA Rates, LLC | $135,000 | n/a | 0.2% | |
NEW DAY FINANCIAL, LLC | $1,260,000 | $130,000 | -89.7% | 0.2% |
AMERICAN ADVISORS GROUP | $125,000 | n/a | 0.1% | |
Bank First, N.A. | $475,000 | $125,000 | -73.7% | 0.1% |
AMERICAN FINANCIAL RESOURCES, INC. | $115,000 | n/a | 0.1% | |
Bank of Milton | $115,000 | n/a | 0.1% | |
FIRST CENTENNIAL MORTGAGE CORPORATION | $115,000 | n/a | 0.1% | |
Northpointe Bank | $115,000 | n/a | 0.1% | |
Horicon Bank | $105,000 | n/a | 0.1% | |
MORTGAGE CENTER L.C | $105,000 | n/a | 0.1% | |
Neighborhood Loans, Inc. | $105,000 | n/a | 0.1% | |
ROYAL UNITED MORTGAGE LLC | $285,000 | $105,000 | -63.2% | 0.1% |
SUCCESS MORTGAGE PARTNERS, INC. | $65,000 | $105,000 | 61.5% | 0.1% |
Bank Five Nine | $95,000 | n/a | 0.1% | |
DOW CHEMICAL EMPLOYEES' | $95,000 | n/a | 0.1% | |
Michigan Educational Credit Union | $95,000 | n/a | 0.1% | |
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION | $600,000 | $95,000 | -84.2% | 0.1% |
NORTHWESTERN MUTUAL | $95,000 | n/a | 0.1% | |
CHURCHILL MORTGAGE CORPORATION | $45,000 | $85,000 | 88.9% | 0.1% |
Frankenmuth Credit Union | $85,000 | n/a | 0.1% | |
PCM | $410,000 | $85,000 | -79.3% | 0.1% |
University of Wisconsin Credit Union | $95,000 | $85,000 | -10.5% | 0.1% |
VILLAGE CAPITAL & INVESTMENT LLC | $315,000 | $85,000 | -73.0% | 0.1% |
CALIBER HOME LOANS, INC. | $75,000 | n/a | 0.1% | |
Manufacturers and Traders Trust Company | $160,000 | $75,000 | -53.1% | 0.1% |
Baxter Credit Union | $65,000 | n/a | 0.1% | |
Citizens Bank | $65,000 | n/a | 0.1% | |
Bank of Luxemburg | $55,000 | n/a | 0.1% | |
Bell Bank | $55,000 | n/a | 0.1% | |
F&A Federal Credit Union | $55,000 | n/a | 0.1% | |
TOWNE MORTGAGE COMPANY | $55,000 | n/a | 0.1% | |
UNISON CREDIT UNION | $55,000 | n/a | 0.1% | |
CAPITAL Credit Union | $400,000 | $45,000 | -88.8% | 0.1% |
MICHIGAN SCHOOLS AND GOVERNMENT | $45,000 | n/a | 0.1% | |
UNITEDONE Credit Union | $45,000 | $45,000 | 0.0% | 0.1% |
Home Loan Investment Bank, F.S.B. | $25,000 | n/a | 0.0% |
Iron Mountain's top lender by overall market share is QUICKEN LOANS, LLC, with 12.6% market share. In second place, with 9.6%, is Range Bank, having originated $8,010,000 in loans. In third place, with 8.8%, is IncredibleBank, having originated $7,355,000 in loans. In fourth place, with 8.2%, is Flagstar Bank, FSB, having originated $6,860,000 in loans. In fifth place, with 5.9%, is Mortgage Research Center, LLC, having originated $4,935,000 in loans.
Iron Mountain Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Iron Mountain (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $129,900 (18.2%) | $174,374 (9.9%) | 0.00 | 189 |
2018-02-01 | $136,850 (9.6%) | $181,707 (6.5%) | 0.00 | 197 |
2018-03-01 | $139,000 (6.0%) | $185,936 (8.5%) | 0.00 | 196 |
2018-04-01 | $139,650 (-0.2%) | $189,470 (8.2%) | 0.00 | 203 |
2018-05-01 | $139,900 (-1.4%) | $189,913 (8.9%) | 0.00 | 229 |
2018-06-01 | $149,500 (6.9%) | $199,795 (10.2%) | 0.00 | 236 |
2018-07-01 | $158,725 (14.0%) | $204,219 (13.9%) | 0.00 | 248 |
2018-08-01 | $154,475 (11.7%) | $200,265 (11.5%) | 0.00 | 266 |
2018-09-01 | $154,900 (11.2%) | $202,242 (13.9%) | 0.00 | 247 |
2018-10-01 | $153,100 (14.0%) | $199,892 (10.5%) | 0.00 | 231 |
2018-11-01 | $148,475 (14.3%) | $198,069 (10.0%) | 0.00 | 225 |
2018-12-01 | $148,000 (13.9%) | $194,917 (12.5%) | 0.00 | 199 |
2019-01-01 | $142,900 (10.0%) | $187,818 (7.7%) | 0.00 | 173 |
2019-02-01 | $139,450 (1.9%) | $189,213 (4.1%) | 0.00 | 163 |
2019-03-01 | $143,614 (3.3%) | $192,723 (3.7%) | 0.00 | 158 |
2019-04-01 | $151,200 (8.3%) | $204,612 (8.0%) | 0.00 | 157 |
2019-05-01 | $151,325 (8.2%) | $213,291 (12.3%) | 0.00 | 158 |
2019-06-01 | $149,900 (0.3%) | $216,493 (8.4%) | 0.00 | 174 |
2019-07-01 | $149,900 (-5.6%) | $213,413 (4.5%) | 0.00 | 196 |
2019-08-01 | $144,445 (-6.5%) | $210,504 (5.1%) | 0.00 | 193 |
2019-09-01 | $136,264 (-12.0%) | $204,190 (1.0%) | 0.00 | 192 |
2019-10-01 | $129,900 (-15.2%) | $199,981 (0.0%) | 0.00 | 193 |
2019-11-01 | $129,900 (-12.5%) | $201,212 (1.6%) | 0.00 | 191 |
2019-12-01 | $129,900 (-12.2%) | $201,730 (3.5%) | 0.00 | 177 |
2020-01-01 | $134,975 (-5.6%) | $202,062 (7.6%) | 0.00 | 152 |
2020-02-01 | $133,900 (-4.0%) | $207,957 (9.9%) | 0.00 | 139 |
2020-03-01 | $142,975 (-0.5%) | $219,707 (14.0%) | 0.00 | 127 |
2020-04-01 | $149,175 (-1.3%) | $249,140 (21.8%) | 0.00 | 120 |
2020-05-01 | $148,450 (-1.9%) | $261,489 (22.6%) | 0.00 | 122 |
2020-06-01 | $148,450 (-1.0%) | $263,945 (21.9%) | 0.00 | 118 |
2020-07-01 | $175,975 (17.4%) | $273,642 (28.2%) | 0.00 | 127 |
2020-08-01 | $149,900 (3.8%) | $256,526 (21.9%) | 0.00 | 123 |
2020-09-01 | $152,500 (11.9%) | $265,791 (30.2%) | 0.00 | 110 |
2020-10-01 | $142,400 (9.6%) | $256,834 (28.4%) | 0.00 | 101 |
2020-11-01 | $143,650 (10.6%) | $247,894 (23.2%) | 0.00 | 103 |
2020-12-01 | $142,400 (9.6%) | $258,618 (28.2%) | 0.00 | 89 |
2021-01-01 | $144,900 (7.4%) | $271,206 (34.2%) | 0.00 | 69 |
2021-02-01 | $144,950 (8.3%) | $298,709 (43.6%) | 0.00 | 59 |
2021-03-01 | $161,150 (12.7%) | $317,820 (44.7%) | 0.00 | 55 |
2021-04-01 | $174,225 (16.8%) | $281,758 (13.1%) | 0.00 | 51 |
2021-05-01 | $179,000 (20.6%) | $255,000 (-2.5%) | 0.00 | 55 |
2021-06-01 | $179,000 (20.6%) | $334,206 (26.6%) | 0.00 | 64 |
2021-07-01 | $180,850 (2.8%) | $374,041 (36.7%) | 0.00 | 68 |
2021-08-01 | $174,450 (16.4%) | $338,398 (31.9%) | 0.00 | 81 |
2021-09-01 | $176,725 (15.9%) | $329,606 (24.0%) | 0.00 | 82 |
2021-10-01 | $182,450 (28.1%) | $351,351 (36.8%) | 0.00 | 79 |
2021-11-01 | $165,700 (15.4%) | $346,183 (39.7%) | 0.00 | 66 |
2021-12-01 | $169,975 (19.4%) | $359,310 (38.9%) | 0.00 | 59 |
2022-01-01 | $164,900 (13.8%) | $364,190 (34.3%) | 0.00 | 48 |
2022-02-01 | $176,750 (21.9%) | $395,288 (32.3%) | 0.00 | 42 |
2022-03-01 | $228,000 (41.5%) | $492,293 (54.9%) | 0.00 | 30 |
2022-04-01 | $265,500 (52.4%) | $489,368 (73.7%) | 0.00 | 37 |
2022-05-01 | $153,050 (-14.5%) | $426,739 (67.4%) | 0.00 | 45 |
2022-06-01 | $172,300 (-3.7%) | $387,317 (15.9%) | 0.00 | 52 |
2022-07-01 | $204,700 (13.2%) | $338,187 (-9.6%) | 0.00 | 59 |
2022-08-01 | $227,175 (30.2%) | $311,006 (-8.1%) | 0.00 | 76 |
2022-09-01 | $186,050 (5.3%) | $290,371 (-11.9%) | 0.00 | 78 |
2022-10-01 | $199,900 (9.6%) | $286,445 (-18.5%) | 0.00 | 77 |
2022-11-01 | $202,425 (22.2%) | $279,028 (-19.4%) | 0.00 | 60 |
2022-12-01 | $179,000 (5.3%) | $261,095 (-27.3%) | 0.00 | 59 |
2023-01-01 | $189,225 (14.8%) | $259,025 (-28.9%) | 0.00 | 52 |
2023-02-01 | $186,725 (5.6%) | $319,666 (-19.1%) | 0.00 | 41 |
Iron Mountain's median listing price comes in at 0% of the national average.
Iron Mountain's average listing price for 2023-02-01 was $319,666, a difference of $-75,622 (-19.1%) versus the prior year and $60,641 versus the prior month.
For the 2023-02-01 period, Iron Mountain had 41 MLS listings, a difference of -11 listings (-21%) versus the prior month and -1 listings (-2%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Iron Mountain (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,435 sqft |
2018-02-01 | 0 days | 1,510 sqft |
2018-03-01 | 0 days | 1,550 sqft |
2018-04-01 | 0 days | 1,560 sqft |
2018-05-01 | 0 days | 1,551 sqft |
2018-06-01 | 0 days | 1,590 sqft |
2018-07-01 | 0 days | 1,581 sqft |
2018-08-01 | 0 days | 1,584 sqft |
2018-09-01 | 0 days | 1,600 sqft |
2018-10-01 | 0 days | 1,609 sqft |
2018-11-01 | 0 days | 1,614 sqft |
2018-12-01 | 0 days | 1,600 sqft |
2019-01-01 | 0 days | 1,557 sqft |
2019-02-01 | 0 days | 1,550 sqft |
2019-03-01 | 0 days | 1,600 sqft |
2019-04-01 | 0 days | 1,691 sqft |
2019-05-01 | 0 days | 1,647 sqft |
2019-06-01 | 0 days | 1,600 sqft |
2019-07-01 | 0 days | 1,612 sqft |
2019-08-01 | 0 days | 1,597 sqft |
2019-09-01 | 0 days | 1,599 sqft |
2019-10-01 | 0 days | 1,580 sqft |
2019-11-01 | 0 days | 1,533 sqft |
2019-12-01 | 0 days | 1,499 sqft |
2020-01-01 | 0 days | 1,481 sqft |
2020-02-01 | 0 days | 1,489 sqft |
2020-03-01 | 0 days | 1,566 sqft |
2020-04-01 | 0 days | 1,572 sqft |
2020-05-01 | 0 days | 1,576 sqft |
2020-06-01 | 0 days | 1,578 sqft |
2020-07-01 | 0 days | 1,584 sqft |
2020-08-01 | 0 days | 1,559 sqft |
2020-09-01 | 0 days | 1,519 sqft |
2020-10-01 | 0 days | 1,512 sqft |
2020-11-01 | 0 days | 1,575 sqft |
2020-12-01 | 0 days | 1,543 sqft |
2021-01-01 | 0 days | 1,510 sqft |
2021-02-01 | 0 days | 1,508 sqft |
2021-03-01 | 0 days | 1,570 sqft |
2021-04-01 | 0 days | 1,597 sqft |
2021-05-01 | 0 days | 1,580 sqft |
2021-06-01 | 0 days | 1,560 sqft |
2021-07-01 | 0 days | 1,481 sqft |
2021-08-01 | 0 days | 1,580 sqft |
2021-09-01 | 0 days | 1,550 sqft |
2021-10-01 | 0 days | 1,492 sqft |
2021-11-01 | 0 days | 1,409 sqft |
2021-12-01 | 0 days | 1,396 sqft |
2022-01-01 | 0 days | 1,374 sqft |
2022-02-01 | 0 days | 1,442 sqft |
2022-03-01 | 0 days | 1,400 sqft |
2022-04-01 | 0 days | 1,580 sqft |
2022-05-01 | 0 days | 1,306 sqft |
2022-06-01 | 0 days | 1,413 sqft |
2022-07-01 | 0 days | 1,421 sqft |
2022-08-01 | 0 days | 1,536 sqft |
2022-09-01 | 0 days | 1,429 sqft |
2022-10-01 | 0 days | 1,500 sqft |
2022-11-01 | 0 days | 1,491 sqft |
2022-12-01 | 0 days | 1,512 sqft |
2023-01-01 | 0 days | 1,518 sqft |
2023-02-01 | 0 days | 1,443 sqft |
Iron Mountain's median square footage for active listings during the 2023-02-01 period was 1,443 sqft. One year prior, the average listing was 1,442 sqft.
Iron Mountain, MI-WI Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 262 | $39,720,000 | $151,603 |
Refi | 173 | $24,555,000 | $141,936 |
Cash Out Refi | 125 | $16,455,000 | $131,640 |
Other | 22 | $1,920,000 | $87,273 |
Home Improvement | 13 | $935,000 | $71,923 |
Iron Mountain's most frequently cited loan purpose was Home Purchase, with 262 originations. The 2nd most popular reason was Refi, with 173 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
3-4% | 211 | $27,665,000 | $131,114 |
2.5-3% | 199 | $30,445,000 | $152,990 |
<2.5% | 128 | $20,050,000 | $156,641 |
4-5% | 31 | $2,855,000 | $92,097 |
5-6% | 10 | $530,000 | $53,000 |
6-7% | 5 | $285,000 | $57,000 |
Over 8% | 2 | $120,000 | $60,000 |
7-8% | 1 | $25,000 | $25,000 |
During 2021, Iron Mountain's most frequently originated rate bucket was 3-4%, with 211 originations.
Loan Sizing (Iron Mountain, MI-WI MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 248 | $34,980,000 | $141,048 |
$100,000 or less | 230 | $15,110,000 | $65,696 |
$200k-400k | 106 | $27,980,000 | $263,962 |
$400k-600k | 10 | $4,880,000 | $488,000 |
$600k-1000k | 1 | $635,000 | $635,000 |
Iron Mountain's loan sizing saw the bucket of loans from $100k-200k with 248 originations, totaling $34,980,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 243 | $37,725,000 | $155,247 |
60-80% | 209 | $30,035,000 | $143,708 |
40-60% | 60 | $7,100,000 | $118,333 |
20-40% | 29 | $2,015,000 | $69,483 |
Under 20% | 21 | $785,000 | $37,381 |
Over 100% | 2 | $470,000 | $235,000 |
Iron Mountain's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 243 originations, totaling $37,725,000 in origination value.