Jennings Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Jennings averaged
7.03%
for the week of 2023-09-14, compared to the national average of
7.18% for the same period.
The average rate for the prior week (2023-09-07) was
7.17% and
one month ago for the week of 2023-08-10, the
average rate was 6.91%.
Jennings's average rate one year ago was 5.94%.
For refis of the same type during the week of 2023-09-14, the average rate
was 7.48%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-09-14 | 7.18% |
| Jennings 30 Year Fixed Rate | 2023-09-14 | 7.03% |
| Jennings 30 Year Fixed Rate Refi | 2023-09-14 | 7.48% |
| Jennings 15 Year Fixed Rate | 2023-09-14 | 6.31% |
| Jennings 15 Year Fixed Rate Refi | 2023-09-14 | 6.71% |
| Jennings 30 Year FHA | 2023-09-14 | 6.4% |
| Jennings 30 Year FHA Refi | 2023-09-14 | 7.19% |
| Jennings 30 Year USDA | 2023-09-14 | 6.98% |
| Jennings 30 Year USDA Refi | 2023-09-14 | 6.98% |
| Jennings 30 Year VA | 2023-09-14 | 6.81% |
| Jennings 30 Year VA Refi | 2023-09-14 | 6.61% |
Jennings 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 Jennings, LA 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.).
Jennings Average Closing Costs & Other Stats
Jennings, LA's 43 lenders originated 554
loans during 2022. The total origination value was $96,260,000, with an average loan value of
$173,755.
Jennings's average closing costs are $4,937.
The top Jennings lender as defined by loan originations is The Bank, with
17 loans originated. Their average total fees are
$2,546, which is $1,310
lower than the next largest lender,
Citizens Bank.
The lowest fee Jennings lenders (with over 10 loans originated) are
The Bank ($2,546), Citizens Bank ($3,856), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($4,279), GMFS LLC ($4,640) and .
The lowest rate Jennings lenders (with over 10 loans originated) are
FAIRWAY INDEPENDENT MORTGAGE CORPORATION (4.80%), Citizens Bank (4.84%), GMFS LLC (5.06%), The Bank (6.41%) and .
Jennings, LA 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 | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
|---|---|---|---|---|
| The Bank | $11,140,000 | $18,370,000 | 64.9% | 19.1% |
| DHI MORTGAGE COMPANY, LTD. | $4,250,000 | $9,140,000 | 115.1% | 9.5% |
| GMFS LLC | $5,415,000 | $4,445,000 | -17.9% | 4.6% |
| Citizens Bank | $7,680,000 | $3,830,000 | -50.1% | 4.0% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $3,430,000 | $3,655,000 | 6.6% | 3.8% |
| UNITED WHOLESALE MORTGAGE, LLC | $3,070,000 | $3,520,000 | 14.7% | 3.7% |
| FIDELITY BANK | $4,890,000 | $3,300,000 | -32.5% | 3.4% |
| Abbeville Building & Loan (A State-Chartered Savings Bank) | $7,875,000 | $2,855,000 | -63.7% | 3.0% |
| HOME POINT FINANCIAL CORPORATION | $5,005,000 | $2,855,000 | -43.0% | 3.0% |
| QUICKEN LOANS, LLC | $11,035,000 | $2,565,000 | -76.8% | 2.7% |
| NTFN, INC. | $3,065,000 | $2,540,000 | -17.1% | 2.6% |
| CALIBER HOME LOANS, INC. | $1,115,000 | $2,345,000 | 110.3% | 2.4% |
| Jeff Davis Bancshares, Inc. | $2,835,000 | $2,255,000 | -20.5% | 2.3% |
| Mortgage Research Center, LLC | $1,260,000 | $2,125,000 | 68.7% | 2.2% |
| 21ST MORTGAGE CORPORATION | $1,305,000 | $1,570,000 | 20.3% | 1.6% |
| Home Bank | $1,295,000 | $1,430,000 | 10.4% | 1.5% |
| Nations Lending Corporation | $1,990,000 | $1,360,000 | -31.7% | 1.4% |
| PENNYMAC LOAN SERVICES, LLC | $2,005,000 | $1,355,000 | -32.4% | 1.4% |
| Flagstar Bank, FSB | $275,000 | $1,130,000 | 310.9% | 1.2% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $1,015,000 | $1,090,000 | 7.4% | 1.1% |
| NAVY FEDERAL CREDIT UNION | $1,040,000 | n/a | 1.1% | |
| CRESCENT MORTGAGE COMPANY | $1,040,000 | $1,020,000 | -1.9% | 1.1% |
| FREEDOM MORTGAGE CORPORATION | $4,990,000 | $1,020,000 | -79.6% | 1.1% |
| MORTGAGE FINANCIAL SERVICES, LLC | $2,915,000 | $900,000 | -69.1% | 0.9% |
| First Federal Bank of Louisiana | $1,405,000 | $875,000 | -37.7% | 0.9% |
| AMERICAN FINANCIAL RESOURCES, INC. | $740,000 | $850,000 | 14.9% | 0.9% |
| AMERISAVE MORTGAGE CORPORATION | $1,145,000 | $815,000 | -28.8% | 0.8% |
| Rayne Building and Loan Association | $755,000 | n/a | 0.8% | |
| SOUTHWEST STAGE FUNDING, LLC | $315,000 | $715,000 | 127.0% | 0.7% |
| EUSTIS AND AMERICAN MORTGAGE COMPANY | $660,000 | n/a | 0.7% | |
| Gateway First Bank | $670,000 | $635,000 | -5.2% | 0.7% |
| SOUTHWEST LOUISIANA CREDIT UNION | $400,000 | $635,000 | 58.8% | 0.7% |
| Red River Bank | $405,000 | $615,000 | 51.9% | 0.6% |
| CSL Financial, LLC | $210,000 | $590,000 | 181.0% | 0.6% |
| First National Bank in DeRidder | $125,000 | $525,000 | 320.0% | 0.5% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $325,000 | $495,000 | 52.3% | 0.5% |
| Plains Commerce Bank | $535,000 | $475,000 | -11.2% | 0.5% |
| JPMorgan Chase Bank | $1,055,000 | $405,000 | -61.6% | 0.4% |
| DAS Acquisition Company, LLC | $480,000 | $400,000 | -16.7% | 0.4% |
| Sabine State Bank and Trust Company | $160,000 | $400,000 | 150.0% | 0.4% |
| PLAZA HOME MORTGAGE, INC. | $125,000 | $390,000 | 212.0% | 0.4% |
| AmeriHome Mortgage Company, LLC | $355,000 | n/a | 0.4% | |
| UNION HOME MORTGAGE CORP. | $355,000 | n/a | 0.4% | |
| CSE Federal Credit Union | $585,000 | $340,000 | -41.9% | 0.4% |
| Hancock Whitney Bank | $930,000 | $340,000 | -63.4% | 0.4% |
| LOANDEPOT.COM, LLC | $2,330,000 | $340,000 | -85.4% | 0.4% |
| RELIANCE FIRST CAPITAL, LLC | $125,000 | $340,000 | 172.0% | 0.4% |
| The Evangeline Bank & Trust Company | $1,745,000 | $330,000 | -81.1% | 0.3% |
| Assurance Financial Group, L.L.C. | $685,000 | $325,000 | -52.6% | 0.3% |
| Bank of England | $525,000 | $305,000 | -41.9% | 0.3% |
| BROKER SOLUTIONS, INC. | $115,000 | $300,000 | 160.9% | 0.3% |
| NATIONS RELIABLE LENDING, LLC | $145,000 | $300,000 | 106.9% | 0.3% |
| GSF Mortgage Corporation | $285,000 | n/a | 0.3% | |
| First Guaranty Bank | $890,000 | $275,000 | -69.1% | 0.3% |
| NETWORK CAPITAL FUNDING CORPORATION | $265,000 | n/a | 0.3% | |
| NEW DAY FINANCIAL, LLC | $200,000 | $265,000 | 32.5% | 0.3% |
| Washington State Bank | $125,000 | $265,000 | 112.0% | 0.3% |
| Barrington Bank & Trust Company, N.A. | $195,000 | $255,000 | 30.8% | 0.3% |
| Capital Bank | $245,000 | n/a | 0.3% | |
| MOVEMENT MORTGAGE, LLC | $595,000 | $245,000 | -58.8% | 0.3% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $125,000 | $235,000 | 88.0% | 0.2% |
| Truist | $225,000 | n/a | 0.2% | |
| Mr. Cooper ( Nationstar Mortgage ) | $2,040,000 | $220,000 | -89.2% | 0.2% |
| ROYAL UNITED MORTGAGE LLC | $180,000 | $210,000 | 16.7% | 0.2% |
| First Horizon Bank | $495,000 | $205,000 | -58.6% | 0.2% |
| FIRST COMMUNITY MORTGAGE, INC. | $195,000 | n/a | 0.2% | |
| EVERETT FINANCIAL, INC. | $205,000 | $185,000 | -9.8% | 0.2% |
| LAKEVIEW LOAN SERVICING, LLC | $470,000 | $175,000 | -62.8% | 0.2% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $170,000 | n/a | 0.2% | |
| Wells Fargo Bank | $1,835,000 | $170,000 | -90.7% | 0.2% |
| Equity Prime Mortgage LLC | $165,000 | n/a | 0.2% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $155,000 | n/a | 0.2% | |
| NP, Inc. | $145,000 | n/a | 0.2% | |
| AMWEST FUNDING CORP. | $135,000 | n/a | 0.1% | |
| COUNTRYPLACE MORTGAGE, LTD. | $95,000 | $135,000 | 42.1% | 0.1% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $75,000 | $135,000 | 80.0% | 0.1% |
| CROSSCOUNTRY MORTGAGE, LLC | $135,000 | n/a | 0.1% | |
| EMBRACE HOME LOANS, INC. | $125,000 | n/a | 0.1% | |
| AMERICAN INTERNET MORTGAGE, INC. | $115,000 | n/a | 0.1% | |
| NEWREZ LLC | $505,000 | $115,000 | -77.2% | 0.1% |
| MID AMERICA MORTGAGE, INC. | $1,070,000 | $105,000 | -90.2% | 0.1% |
| Pelican State Credit Union | $85,000 | $105,000 | 23.5% | 0.1% |
| AMERICAN FINANCING CORPORATION | $95,000 | n/a | 0.1% | |
| Investar Bank | $310,000 | $95,000 | -69.4% | 0.1% |
| TRIAD FINANCIAL SERVICES, INC. | $500,000 | $95,000 | -81.0% | 0.1% |
| ATLANTA POSTAL | $75,000 | n/a | 0.1% | |
| Lakeside Bank | $70,000 | n/a | 0.1% | |
| Home Loan Investment Bank, F.S.B. | $50,000 | n/a | 0.1% | |
| b1BANK | $565,000 | $45,000 | -92.0% | 0.0% |
| Farmers-Merchants Bank & Trust Company | $65,000 | $35,000 | -46.2% | 0.0% |
Jennings's top lender by overall market share is The Bank, with 19.1% market share. In second place, with 9.5%, is DHI MORTGAGE COMPANY, LTD., having originated $9,140,000 in loans. In third place, with 4.6%, is GMFS LLC, having originated $4,445,000 in loans. In fourth place, with 4.0%, is Citizens Bank, having originated $3,830,000 in loans. In fifth place, with 3.8%, is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, having originated $3,655,000 in loans.
Jennings, LA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 355 | $66,115,000 | $186,239 |
| Refi | 119 | $20,485,000 | $172,143 |
| Cash Out Refi | 53 | $7,705,000 | $145,377 |
| Home Improvement | 18 | $1,200,000 | $66,667 |
| Other | 9 | $755,000 | $83,889 |
Jennings's most frequently cited loan purpose was Home Purchase, with 355 originations. The 2nd most popular reason was Refi, with 119 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 145 | $25,135,000 | $173,345 |
| 4-5% | 107 | $22,565,000 | $210,888 |
| 6-7% | 99 | $14,885,000 | $150,354 |
| 3-4% | 94 | $20,300,000 | $215,957 |
| 7-8% | 42 | $4,830,000 | $115,000 |
| Over 8% | 24 | $2,100,000 | $87,500 |
| 2.5-3% | 19 | $2,785,000 | $146,579 |
| <2.5% | 4 | $750,000 | $187,500 |
During 2022, Jennings's most frequently originated rate bucket was 5-6%, with 145 originations.
Loan Sizing (Jennings, LA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 203 | $29,715,000 | $146,379 |
| $200k-400k | 190 | $50,690,000 | $266,789 |
| $100,000 or less | 148 | $8,880,000 | $60,000 |
| $400k-600k | 11 | $5,305,000 | $482,273 |
| $600k-1000k | 2 | $1,670,000 | $835,000 |
Jennings's loan sizing saw the bucket of loans from $100k-200k with 203 originations, totaling $29,715,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 291 | $59,925,000 | $205,928 |
| 60-80% | 132 | $20,720,000 | $156,970 |
| 40-60% | 49 | $6,075,000 | $123,980 |
| 20-40% | 24 | $1,640,000 | $68,333 |
| Over 100% | 18 | $4,000,000 | $222,222 |
| Under 20% | 13 | $365,000 | $28,077 |
Jennings's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 291 originations, totaling $59,925,000 in origination value.