Jennings Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Jennings averaged
7.1%
for the week of 2024-04-18, compared to the national average of
7.1% for the same period.
The average rate for the prior week (2024-04-11) was
7.08% and
one month ago for the week of 2024-03-14, the
average rate was 6.84%.
Jennings's average rate one year ago was 6.47%.
For refis of the same type during the week of 2024-04-18, the average rate
was 7.6%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-04-18 | 7.1% |
| Jennings 30 Year Fixed Rate | 2024-04-18 | 7.1% |
| Jennings 30 Year Fixed Rate Refi | 2024-04-18 | 7.6% |
| Jennings 15 Year Fixed Rate | 2024-04-18 | 6.19% |
| Jennings 15 Year Fixed Rate Refi | 2024-04-18 | 6.89% |
| Jennings 30 Year FHA | 2024-04-18 | 6.72% |
| Jennings 30 Year FHA Refi | 2024-04-18 | 6.76% |
| Jennings 30 Year USDA | 2024-04-18 | 6.86% |
| Jennings 30 Year USDA Refi | 2024-04-18 | 6.66% |
| Jennings 30 Year VA | 2024-04-18 | 6.86% |
| Jennings 30 Year VA Refi | 2024-04-18 | 6.86% |
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 31 lenders originated 399
loans during 2023. The total origination value was $66,275,000, with an average loan value of
$166,103.
Jennings's average closing costs are $5,098.
The top Jennings lender as defined by loan originations is FIDELITY BANK, with
9 loans originated. Their average total fees are
$4,548, which is $818
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Jennings lenders (with over 10 loans originated) are
.
The lowest rate Jennings lenders (with over 10 loans originated) are
.
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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| The Bank | $18,370,000 | $11,605,000 | -36.8% | 17.5% |
| DHI MORTGAGE COMPANY, LTD. | $9,140,000 | $4,340,000 | -52.5% | 6.5% |
| FIDELITY BANK | $3,300,000 | $3,205,000 | -2.9% | 4.8% |
| UNITED WHOLESALE MORTGAGE, LLC | $3,520,000 | $3,065,000 | -12.9% | 4.6% |
| GMFS LLC | $4,445,000 | $2,980,000 | -33.0% | 4.5% |
| QUICKEN LOANS, LLC | $2,565,000 | $2,760,000 | 7.6% | 4.2% |
| CATAHOULA LASALLE BANK | $2,605,000 | n/a | 3.9% | |
| Abbeville Building & Loan (A State-Chartered Savings Bank) | $2,855,000 | $2,035,000 | -28.7% | 3.1% |
| MID AMERICA MORTGAGE, INC. | $105,000 | $1,635,000 | 1,457.1% | 2.5% |
| First Horizon Bank | $205,000 | $1,630,000 | 695.1% | 2.5% |
| UNION HOME MORTGAGE CORP. | $355,000 | $1,605,000 | 352.1% | 2.4% |
| Citizens Bank | $3,830,000 | $1,385,000 | -63.8% | 2.1% |
| Jeff Davis Bancshares | $2,255,000 | $1,290,000 | -42.8% | 1.9% |
| PENNYMAC LOAN SERVICES, LLC | $1,355,000 | $1,225,000 | -9.6% | 1.8% |
| 21ST MORTGAGE CORPORATION | $1,570,000 | $1,190,000 | -24.2% | 1.8% |
| First Federal Bank of Louisiana | $875,000 | $1,015,000 | 16.0% | 1.5% |
| Mortgage Research Center, LLC | $2,125,000 | $950,000 | -55.3% | 1.4% |
| Plains Commerce Bank | $475,000 | $950,000 | 100.0% | 1.4% |
| NEWREZ LLC | $115,000 | $945,000 | 721.7% | 1.4% |
| Hancock Whitney Bank | $340,000 | $940,000 | 176.5% | 1.4% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $3,655,000 | $920,000 | -74.8% | 1.4% |
| NTFN, INC. | $2,540,000 | $905,000 | -64.4% | 1.4% |
| Flagstar Bank, FSB | $1,130,000 | $865,000 | -23.5% | 1.3% |
| Nations Lending Corporation | $1,360,000 | $820,000 | -39.7% | 1.2% |
| AMERICAN FINANCIAL RESOURCES, INC. | $850,000 | $775,000 | -8.8% | 1.2% |
| TRIAD FINANCIAL SERVICES, INC. | $95,000 | $750,000 | 689.5% | 1.1% |
| FREEDOM MORTGAGE CORPORATION | $1,020,000 | $725,000 | -28.9% | 1.1% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $1,090,000 | $695,000 | -36.2% | 1.0% |
| Rayne Building and Loan Association | $755,000 | $605,000 | -19.9% | 0.9% |
| The Cottonport Bank | $595,000 | n/a | 0.9% | |
| STANDARD MORTGAGE CORPORATION | $560,000 | n/a | 0.8% | |
| EUSTIS AND AMERICAN MORTGAGE COMPANY | $660,000 | $535,000 | -18.9% | 0.8% |
| Sabine State Bank and Trust Company | $400,000 | $525,000 | 31.3% | 0.8% |
| Regions Bank | $465,000 | n/a | 0.7% | |
| First Federal Bank | $455,000 | n/a | 0.7% | |
| Home Bank | $1,430,000 | $455,000 | -68.2% | 0.7% |
| SOUTHWEST LOUISIANA CREDIT UNION | $635,000 | $440,000 | -30.7% | 0.7% |
| FIRST COMMUNITY MORTGAGE, INC. | $195,000 | $430,000 | 120.5% | 0.6% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $410,000 | n/a | 0.6% | |
| Red River Bank | $615,000 | $370,000 | -39.8% | 0.6% |
| OAKTREE FUNDING CORP. | $315,000 | n/a | 0.5% | |
| NAVY FEDERAL CREDIT UNION | $1,040,000 | $305,000 | -70.7% | 0.5% |
| Equity Prime Mortgage LLC | $165,000 | $290,000 | 75.8% | 0.4% |
| Chickasaw Community Bank | $275,000 | n/a | 0.4% | |
| The Federal Savings Bank | $275,000 | n/a | 0.4% | |
| Merchants & Farmers Bank & Trust Company | $270,000 | n/a | 0.4% | |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $265,000 | n/a | 0.4% | |
| MEMBER HOME LOAN, L.L.C. | $265,000 | n/a | 0.4% | |
| Neighbors Federal Credit Union | $235,000 | n/a | 0.4% | |
| MOVEMENT MORTGAGE, LLC | $245,000 | $230,000 | -6.1% | 0.3% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $170,000 | $230,000 | 35.3% | 0.3% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $155,000 | $205,000 | 32.3% | 0.3% |
| Bank of Commerce & Trust Co | $190,000 | n/a | 0.3% | |
| FIRST NATIONAL BANK OF LA | $175,000 | n/a | 0.3% | |
| Mr. Cooper ( Nationstar Mortgage ) | $220,000 | $175,000 | -20.5% | 0.3% |
| SOUTHWEST STAGE FUNDING, LLC | $715,000 | $175,000 | -75.5% | 0.3% |
| CSE Federal Credit Union | $340,000 | $170,000 | -50.0% | 0.3% |
| LOANDEPOT.COM, LLC | $340,000 | $170,000 | -50.0% | 0.3% |
| BAY EQUITY LLC | $165,000 | n/a | 0.2% | |
| Wells Fargo Bank | $170,000 | $155,000 | -8.8% | 0.2% |
| Carrington Mortgage Services, LLC | $145,000 | n/a | 0.2% | |
| T2 FINANCIAL LLC | $135,000 | n/a | 0.2% | |
| BancorpSouth | $125,000 | n/a | 0.2% | |
| PLAZA HOME MORTGAGE, INC. | $390,000 | $125,000 | -67.9% | 0.2% |
| Victorian Finance, LLC | $125,000 | n/a | 0.2% | |
| Farmers-Merchants Bank & Trust Company | $35,000 | $120,000 | 242.9% | 0.2% |
| b1BANK | $45,000 | $115,000 | 155.6% | 0.2% |
| Washington State Bank | $265,000 | $115,000 | -56.6% | 0.2% |
| Discover Bank | $110,000 | n/a | 0.2% | |
| St Landry Bank & Trust Company | $105,000 | n/a | 0.2% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $135,000 | $95,000 | -29.6% | 0.1% |
| CSL Financial, LLC | $590,000 | $95,000 | -83.9% | 0.1% |
| Renasant Bank | $95,000 | n/a | 0.1% | |
| LIMA ONE CAPITAL, LLC | $85,000 | n/a | 0.1% | |
| First Guaranty Bank | $275,000 | $80,000 | -70.9% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $75,000 | n/a | 0.1% | |
| BROKER SOLUTIONS, INC. | $300,000 | $55,000 | -81.7% | 0.1% |
| First National Bank in DeRidder | $525,000 | $45,000 | -91.4% | 0.1% |
| Pelican State Credit Union | $105,000 | $35,000 | -66.7% | 0.1% |
| U.S. Bank | $35,000 | n/a | 0.1% | |
| Coastal Community Bank | $25,000 | n/a | 0.0% |
Jennings's top lender by overall market share is The Bank, with 17.5% market share. In second place, with 6.5%, is DHI MORTGAGE COMPANY, LTD., having originated $4,340,000 in loans. In third place, with 4.8%, is FIDELITY BANK, having originated $3,205,000 in loans. In fourth place, with 4.6%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $3,065,000 in loans. In fifth place, with 4.5%, is GMFS LLC, having originated $2,980,000 in loans.
Jennings, LA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 240 | $45,450,000 | $189,375 |
| Refi | 100 | $15,010,000 | $150,100 |
| Cash Out Refi | 23 | $2,935,000 | $127,609 |
| Other | 22 | $1,640,000 | $74,545 |
| Home Improvement | 14 | $1,240,000 | $88,571 |
Jennings's most frequently cited loan purpose was Home Purchase, with 240 originations. The 2nd most popular reason was Refi, with 100 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 107 | $20,095,000 | $187,804 |
| Over 8% | 107 | $12,355,000 | $115,467 |
| 7-8% | 95 | $14,005,000 | $147,421 |
| 5-6% | 42 | $9,030,000 | $215,000 |
| 4-5% | 13 | $2,475,000 | $190,385 |
During 2023, Jennings's most frequently originated rate bucket was 6-7%, with 107 originations.
Loan Sizing (Jennings, LA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 161 | $23,595,000 | $146,553 |
| $100,000 or less | 128 | $7,840,000 | $61,250 |
| $200k-400k | 98 | $26,480,000 | $270,204 |
| $400k-600k | 9 | $4,375,000 | $486,111 |
| $600k-1000k | 2 | $1,380,000 | $690,000 |
| $Over $1MM | 1 | $2,605,000 | $2,605,000 |
Jennings's loan sizing saw the bucket of loans from $100k-200k with 161 originations, totaling $23,595,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 193 | $36,175,000 | $187,435 |
| 60-80% | 76 | $12,700,000 | $167,105 |
| 40-60% | 46 | $4,610,000 | $100,217 |
| 20-40% | 23 | $1,635,000 | $71,087 |
| Over 100% | 13 | $2,375,000 | $182,692 |
| Under 20% | 12 | $410,000 | $34,167 |
Jennings's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 193 originations, totaling $36,175,000 in origination value.