Jackson Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Jackson averaged
6.55%
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
6.35% and
one month ago for the week of 2024-09-19, the
average rate was 6.3%.
Jackson's average rate one year ago was 7.74%.
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% |
Jackson 30 Year Fixed Rate | 2024-10-24 | 6.55% |
Jackson 30 Year Fixed Rate Refi | 2024-10-24 | 7.04% |
Jackson 15 Year Fixed Rate | 2024-10-24 | 5.71% |
Jackson 15 Year Fixed Rate Refi | 2024-10-24 | 6.01% |
Jackson 30 Year FHA | 2024-10-24 | 6.61% |
Jackson 30 Year FHA Refi | 2024-10-24 | 6.25% |
Jackson 30 Year USDA | 2024-10-24 | 6.29% |
Jackson 30 Year USDA Refi | 2024-10-24 | 6.39% |
Jackson 30 Year VA | 2024-10-24 | 6.04% |
Jackson 30 Year VA Refi | 2024-10-24 | 6.04% |
Jackson 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 Jackson, OH 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.).
Jackson Average Closing Costs & Other Stats
Jackson, OH's 47 lenders originated 490
loans during 2023. The total origination value was $71,420,000, with an average loan value of
$145,755.
Jackson's average closing costs are $5,057.
The top Jackson lender as defined by loan originations is The Ohio Valley Bank Company, with
21 loans originated. Their average total fees are
$3,506, which is $706
higher than the next largest lender,
THE VINTON COUNTY NATIONAL BANK.
The lowest fee Jackson lenders (with over 10 loans originated) are
THE VINTON COUNTY NATIONAL BANK ($2,801), The Ohio Valley Bank Company ($3,506), .
The lowest rate Jackson lenders (with over 10 loans originated) are
The Ohio Valley Bank Company (6.70%), THE VINTON COUNTY NATIONAL BANK (6.94%), .
Jackson, OH 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 |
---|---|---|---|---|
ATOMIC CREDIT UNION, INC. | $12,655,000 | $11,195,000 | -11.5% | 15.7% |
THE VINTON COUNTY NATIONAL BANK | $9,545,000 | $7,120,000 | -25.4% | 10.0% |
The Ohio Valley Bank Company | $3,670,000 | $5,675,000 | 54.6% | 7.9% |
RAPID MORTGAGE COMPANY | $6,315,000 | $5,325,000 | -15.7% | 7.5% |
WesBanco | $5,615,000 | $4,140,000 | -26.3% | 5.8% |
Paramount Residential Mortgage Group, Inc. | $7,215,000 | $4,135,000 | -42.7% | 5.8% |
QUICKEN LOANS, LLC | $6,205,000 | $2,430,000 | -60.8% | 3.4% |
PNC Bank | $1,870,000 | $2,050,000 | 9.6% | 2.9% |
Peoples Bank | $3,345,000 | $1,985,000 | -40.7% | 2.8% |
Mortgage Research Center, LLC | $1,040,000 | $1,955,000 | 88.0% | 2.7% |
GUARANTEED RATE, INC. | $720,000 | $1,520,000 | 111.1% | 2.1% |
Farm Credit Mid-America, ACA | $1,120,000 | $1,190,000 | 6.3% | 1.7% |
MOVEMENT MORTGAGE, LLC | $1,180,000 | n/a | 1.7% | |
DEVELOPER'S MORTGAGE COMPANY | $520,000 | $1,075,000 | 106.7% | 1.5% |
RUOFF MORTGAGE COMPANY, INC. | $1,950,000 | $985,000 | -49.5% | 1.4% |
NFM, INC. | $490,000 | $890,000 | 81.6% | 1.2% |
UNION HOME MORTGAGE CORP. | $1,175,000 | $785,000 | -33.2% | 1.1% |
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $765,000 | n/a | 1.1% | |
VANDERBILT MORTGAGE AND FINANCE, INC. | $790,000 | $760,000 | -3.8% | 1.1% |
CROSSCOUNTRY MORTGAGE, LLC | $590,000 | $615,000 | 4.2% | 0.9% |
Carrington Mortgage Services, LLC | $155,000 | $500,000 | 222.6% | 0.7% |
USAA Federal Savings Bank | $425,000 | $485,000 | 14.1% | 0.7% |
NATIONWIDE MORTGAGE BANKERS, INC. | $470,000 | n/a | 0.7% | |
The Huntington National Bank | $560,000 | $455,000 | -18.8% | 0.6% |
LAND HOME FINANCIAL SERVICES, INC. | $450,000 | n/a | 0.6% | |
PLANET HOME LENDING, LLC | $85,000 | $450,000 | 429.4% | 0.6% |
LOANDEPOT.COM, LLC | $870,000 | $445,000 | -48.9% | 0.6% |
NAVY FEDERAL CREDIT UNION | $435,000 | $445,000 | 2.3% | 0.6% |
UNITED WHOLESALE MORTGAGE, LLC | $505,000 | $445,000 | -11.9% | 0.6% |
FREEDOM MORTGAGE CORPORATION | $135,000 | $415,000 | 207.4% | 0.6% |
J. VIRGIL, INC. | $405,000 | n/a | 0.6% | |
AMERISAVE MORTGAGE CORPORATION | $695,000 | $395,000 | -43.2% | 0.6% |
Citizens Bank | $590,000 | $380,000 | -35.6% | 0.5% |
DAS Acquisition Company, LLC | $470,000 | $380,000 | -19.1% | 0.5% |
MUTUAL OF OMAHA MORTGAGE, INC. | $245,000 | $370,000 | 51.0% | 0.5% |
U.S. Bank | $1,080,000 | $345,000 | -68.1% | 0.5% |
SOUTHWEST STAGE FUNDING, LLC | $85,000 | $340,000 | 300.0% | 0.5% |
The Park National Bank | $340,000 | n/a | 0.5% | |
21ST MORTGAGE CORPORATION | $175,000 | $315,000 | 80.0% | 0.4% |
Farmers State Bank of Alto Pass | $315,000 | n/a | 0.4% | |
Union Savings Bank | $375,000 | $310,000 | -17.3% | 0.4% |
CITY-COUNTY CREDIT UNION | $295,000 | n/a | 0.4% | |
POLARIS HOME FUNDING CORP. | $450,000 | $275,000 | -38.9% | 0.4% |
City National Bank of West Virginia | $270,000 | n/a | 0.4% | |
Kingston National Bank | $400,000 | $265,000 | -33.8% | 0.4% |
EMM LOANS LLC | $255,000 | n/a | 0.4% | |
NEWREZ LLC | $255,000 | n/a | 0.4% | |
Flagstar Bank, FSB | $200,000 | $220,000 | 10.0% | 0.3% |
Mr. Cooper ( Nationstar Mortgage ) | $340,000 | $210,000 | -38.2% | 0.3% |
CME Federal Credit Union | $195,000 | n/a | 0.3% | |
LIBERTY HOME MORTGAGE CORPORATION | $195,000 | n/a | 0.3% | |
MYCUMORTGAGE, LLC | $195,000 | n/a | 0.3% | |
Nations Lending Corporation | $260,000 | $195,000 | -25.0% | 0.3% |
FIRST SERVICE FCU | $185,000 | n/a | 0.3% | |
First State Bank | $185,000 | n/a | 0.3% | |
Wyndham Capital Mortgage, Inc. | $185,000 | n/a | 0.3% | |
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $175,000 | n/a | 0.2% | |
PENNYMAC LOAN SERVICES, LLC | $280,000 | $165,000 | -41.1% | 0.2% |
CREDIT HUMAN FEDERAL CREDIT UNION | $160,000 | n/a | 0.2% | |
Community Trust Bank, Inc. | $155,000 | n/a | 0.2% | |
PREMIER LENDING, INC. | $155,000 | n/a | 0.2% | |
UNIVERSAL 1 CREDIT UNION | $155,000 | n/a | 0.2% | |
Coastal Community Bank | $145,000 | n/a | 0.2% | |
HOMESIDE FINANCIAL, LLC | $1,125,000 | $145,000 | -87.1% | 0.2% |
VILLAGE CAPITAL MORTGAGE | $205,000 | $145,000 | -29.3% | 0.2% |
Centier Bank | $135,000 | n/a | 0.2% | |
Three Rivers Federal Credit Union | $105,000 | $135,000 | 28.6% | 0.2% |
ALLIED MORTGAGE GROUP, INC. | $325,000 | $125,000 | -61.5% | 0.2% |
GSF Mortgage Corporation | $175,000 | $125,000 | -28.6% | 0.2% |
JPMorgan Chase Bank | $360,000 | $125,000 | -65.3% | 0.2% |
STOCKTON MORTGAGE CORPORATION | $125,000 | n/a | 0.2% | |
The Federal Savings Bank | $125,000 | n/a | 0.2% | |
THRIVE MORTGAGE, LLC | $125,000 | $125,000 | 0.0% | 0.2% |
TOP FLITE FINANCIAL, INC. | $125,000 | n/a | 0.2% | |
The Farmers National Bank of Canfield | $115,000 | n/a | 0.2% | |
EQUITY RESOURCES, INC. | $520,000 | $105,000 | -79.8% | 0.1% |
Victorian Finance, LLC | $105,000 | n/a | 0.1% | |
Fifth Third Bank | $1,010,000 | $100,000 | -90.1% | 0.1% |
BROKER SOLUTIONS, INC. | $215,000 | $95,000 | -55.8% | 0.1% |
SUMMIT FUNDING, INC. | $90,000 | n/a | 0.1% | |
East Coast Capital Corp. | $85,000 | n/a | 0.1% | |
FINANCE OF AMERICA REVERSE LLC | $85,000 | n/a | 0.1% | |
LIMA ONE CAPITAL, LLC | $75,000 | n/a | 0.1% | |
RELIANCE FIRST CAPITAL, LLC | $105,000 | $75,000 | -28.6% | 0.1% |
WRIGHT-PATT CREDIT UNION, INC. | $280,000 | $75,000 | -73.2% | 0.1% |
Bank of America | $55,000 | n/a | 0.1% | |
PENTAGON FEDERAL CREDIT UNION | $55,000 | n/a | 0.1% | |
The Farmers Bank & Savings Company | $520,000 | $55,000 | -89.4% | 0.1% |
Discover Bank | $35,000 | n/a | 0.0% | |
First Financial Bank | $35,000 | n/a | 0.0% | |
Figure Lending LLC | $25,000 | n/a | 0.0% |
Jackson's top lender by overall market share is ATOMIC CREDIT UNION, INC., with 15.7% market share. In second place, with 10.0%, is THE VINTON COUNTY NATIONAL BANK, having originated $7,120,000 in loans. In third place, with 7.9%, is The Ohio Valley Bank Company, having originated $5,675,000 in loans. In fourth place, with 7.5%, is RAPID MORTGAGE COMPANY, having originated $5,325,000 in loans. In fifth place, with 5.8%, is WesBanco, having originated $4,140,000 in loans.
Jackson, OH Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 276 | $49,430,000 | $179,094 |
Home Improvement | 65 | $4,695,000 | $72,231 |
Cash Out Refi | 64 | $8,480,000 | $132,500 |
Refi | 43 | $5,465,000 | $127,093 |
Other | 42 | $3,350,000 | $79,762 |
Jackson's most frequently cited loan purpose was Home Purchase, with 276 originations. The 2nd most popular reason was Home Improvement, with 65 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 146 | $22,830,000 | $156,370 |
7-8% | 109 | $17,245,000 | $158,211 |
Over 8% | 91 | $8,345,000 | $91,703 |
5-6% | 47 | $9,405,000 | $200,106 |
3-4% | 15 | $745,000 | $49,667 |
<2.5% | 11 | $695,000 | $63,182 |
4-5% | 1 | $195,000 | $195,000 |
During 2023, Jackson's most frequently originated rate bucket was 6-7%, with 146 originations.
Loan Sizing (Jackson, OH MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 206 | $29,890,000 | $145,097 |
$100,000 or less | 185 | $11,215,000 | $60,622 |
$200k-400k | 83 | $22,085,000 | $266,084 |
$400k-600k | 12 | $5,330,000 | $444,167 |
$600k-1000k | 4 | $2,900,000 | $725,000 |
Jackson's loan sizing saw the bucket of loans from $100k-200k with 206 originations, totaling $29,890,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 208 | $36,720,000 | $176,538 |
60-80% | 74 | $11,090,000 | $149,865 |
20-40% | 70 | $5,290,000 | $75,571 |
40-60% | 40 | $4,710,000 | $117,750 |
Under 20% | 25 | $1,025,000 | $41,000 |
Over 100% | 3 | $625,000 | $208,333 |
Jackson's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 208 originations, totaling $36,720,000 in origination value.