Kinston Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Kinston averaged
6.53%
for the week of 2024-07-18, compared to the national average of
6.77% for the same period.
The average rate for the prior week (2024-07-11) was
6.45% and
one month ago for the week of 2024-06-13, the
average rate was 6.91%.
Kinston's average rate one year ago was 6.72%.
For refis of the same type during the week of 2024-07-18, the average rate
was 7.17%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-07-18 | 6.77% |
| Kinston 30 Year Fixed Rate | 2024-07-18 | 6.53% |
| Kinston 30 Year Fixed Rate Refi | 2024-07-18 | 7.17% |
| Kinston 15 Year Fixed Rate | 2024-07-18 | 6.25% |
| Kinston 15 Year Fixed Rate Refi | 2024-07-18 | 6.55% |
| Kinston 30 Year FHA | 2024-07-18 | 6.65% |
| Kinston 30 Year FHA Refi | 2024-07-18 | 6.59% |
| Kinston 30 Year USDA | 2024-07-18 | 6.83% |
| Kinston 30 Year USDA Refi | 2024-07-18 | 6.53% |
| Kinston 30 Year VA | 2024-07-18 | 6.19% |
| Kinston 30 Year VA Refi | 2024-07-18 | 6.4% |
Kinston 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 Kinston, NC 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.).
Kinston Average Closing Costs & Other Stats
Kinston, NC's 57 lenders originated 858
loans during 2023. The total origination value was $131,370,000, with an average loan value of
$153,112.
Kinston's average closing costs are $4,642.
The top Kinston lender as defined by loan originations is STATE EMPLOYEES', with
54 loans originated. Their average total fees are
$3,824, which is $1,434
lower than the next largest lender,
ATLANTIC BAY MORTGAGE GROUP, L.L.C..
The lowest fee Kinston lenders (with over 10 loans originated) are
LOCAL GOVERNMENT FEDERAL CREDIT UNION ($3,427), STATE EMPLOYEES' ($3,824), Truist ($4,593), ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($5,257) and QUICKEN LOANS, LLC ($5,332).
The lowest rate Kinston lenders (with over 10 loans originated) are
LOCAL GOVERNMENT FEDERAL CREDIT UNION (6.06%), STATE EMPLOYEES' (6.08%), Truist (6.24%), ATLANTIC BAY MORTGAGE GROUP, L.L.C. (6.73%) and QUICKEN LOANS, LLC (7.04%).
Kinston, NC 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 |
|---|---|---|---|---|
| STATE EMPLOYEES' | $31,865,000 | $19,190,000 | -39.8% | 14.6% |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $9,535,000 | $7,810,000 | -18.1% | 5.9% |
| Southern Bank and Trust Company | $3,790,000 | $7,630,000 | 101.3% | 5.8% |
| Mortgage Research Center, LLC | $6,240,000 | $6,090,000 | -2.4% | 4.6% |
| QUICKEN LOANS, LLC | $6,455,000 | $5,530,000 | -14.3% | 4.2% |
| First-Citizens Bank & Trust Company | $6,700,000 | $5,310,000 | -20.7% | 4.0% |
| Truist | $5,880,000 | $5,280,000 | -10.2% | 4.0% |
| MOVEMENT MORTGAGE, LLC | $5,670,000 | $4,695,000 | -17.2% | 3.6% |
| INSPIRE HOME LOANS INC. | $910,000 | $4,590,000 | 404.4% | 3.5% |
| DHI MORTGAGE COMPANY, LTD. | $3,785,000 | n/a | 2.9% | |
| NAVY FEDERAL CREDIT UNION | $2,975,000 | $2,790,000 | -6.2% | 2.1% |
| FBC MORTGAGE, LLC | $2,615,000 | n/a | 2.0% | |
| Wells Fargo Bank | $3,405,000 | $2,475,000 | -27.3% | 1.9% |
| LOCAL GOVERNMENT FEDERAL CREDIT UNION | $3,435,000 | $2,345,000 | -31.7% | 1.8% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,890,000 | $2,280,000 | 20.6% | 1.7% |
| CORNERSTONE HOME LENDING, INC. | $2,425,000 | $2,230,000 | -8.0% | 1.7% |
| ACADEMY MORTGAGE CORPORATION | $1,575,000 | $1,860,000 | 18.1% | 1.4% |
| United Bank | $1,255,000 | $1,845,000 | 47.0% | 1.4% |
| American Security Mortgage Corp. | $730,000 | $1,830,000 | 150.7% | 1.4% |
| First National Bank of Pennsylvania | $135,000 | $1,805,000 | 1,237.0% | 1.4% |
| 21ST MORTGAGE CORPORATION | $1,485,000 | $1,695,000 | 14.1% | 1.3% |
| GUILD MORTGAGE COMPANY | $350,000 | $1,585,000 | 352.9% | 1.2% |
| CROSSCOUNTRY MORTGAGE, LLC | $1,500,000 | n/a | 1.1% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $1,210,000 | $1,325,000 | 9.5% | 1.0% |
| LOANDEPOT.COM, LLC | $2,170,000 | $1,285,000 | -40.8% | 1.0% |
| VILLAGE CAPITAL MORTGAGE | $290,000 | $1,280,000 | 341.4% | 1.0% |
| EMM LOANS LLC | $1,250,000 | $1,095,000 | -12.4% | 0.8% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $735,000 | $1,085,000 | 47.6% | 0.8% |
| MICHIGAN MUTUAL, INC. | $155,000 | $1,025,000 | 561.3% | 0.8% |
| CMG MORTGAGE, INC. | $570,000 | $1,020,000 | 78.9% | 0.8% |
| USAA Federal Savings Bank | $950,000 | $950,000 | 0.0% | 0.7% |
| PNC Bank | $2,135,000 | $865,000 | -59.5% | 0.7% |
| SUCCESS MORTGAGE PARTNERS, INC. | $480,000 | $785,000 | 63.5% | 0.6% |
| INTERCOASTAL MORTGAGE COMPANY | $1,545,000 | $740,000 | -52.1% | 0.6% |
| BROKER SOLUTIONS, INC. | $1,060,000 | $710,000 | -33.0% | 0.5% |
| GUARANTEED RATE, INC. | $2,040,000 | $670,000 | -67.2% | 0.5% |
| TRIAD FINANCIAL SERVICES, INC. | $800,000 | $610,000 | -23.8% | 0.5% |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $585,000 | n/a | 0.4% | |
| Alcova Mortgage LLC | $1,205,000 | $570,000 | -52.7% | 0.4% |
| COASTAL Federal Credit Union | $685,000 | $565,000 | -17.5% | 0.4% |
| NEWREZ LLC | $155,000 | $545,000 | 251.6% | 0.4% |
| PHH Mortgage Corporation | $55,000 | $545,000 | 890.9% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $1,270,000 | $535,000 | -57.9% | 0.4% |
| Bank of America | $345,000 | $520,000 | 50.7% | 0.4% |
| CARDINAL FINANCIAL | $495,000 | $495,000 | 0.0% | 0.4% |
| Integrity Home Mortgage Corp | $485,000 | n/a | 0.4% | |
| PREMIA MORTGAGE, LLC | $275,000 | $480,000 | 74.5% | 0.4% |
| American Mortgage & Equity Consultants, Inc. | $475,000 | n/a | 0.4% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $170,000 | $445,000 | 161.8% | 0.3% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $75,000 | $440,000 | 486.7% | 0.3% |
| Bank of England | $425,000 | n/a | 0.3% | |
| PENNYMAC LOAN SERVICES, LLC | $1,715,000 | $410,000 | -76.1% | 0.3% |
| Regions Bank | $155,000 | $390,000 | 151.6% | 0.3% |
| Armed Forces Bank | $385,000 | n/a | 0.3% | |
| LENDINGHOME FUNDING CORPORATION | $270,000 | $375,000 | 38.9% | 0.3% |
| T2 FINANCIAL LLC | $135,000 | $370,000 | 174.1% | 0.3% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $370,000 | $355,000 | -4.1% | 0.3% |
| Ameris Bank | $445,000 | $350,000 | -21.3% | 0.3% |
| ROSS MORTGAGE CORPORATION | $345,000 | n/a | 0.3% | |
| JPMorgan Chase Bank | $365,000 | $340,000 | -6.8% | 0.3% |
| U.S. Bank | $340,000 | n/a | 0.3% | |
| AMERISAVE MORTGAGE CORPORATION | $1,110,000 | $330,000 | -70.3% | 0.3% |
| LATINO COMMUNITY CREDIT UNION | $155,000 | $325,000 | 109.7% | 0.2% |
| SUN WEST MORTGAGE COMPANY, INC. | $405,000 | $325,000 | -19.8% | 0.2% |
| AgCarolina Farm Credit, FLCA | $500,000 | $305,000 | -39.0% | 0.2% |
| Flagstar Bank, FSB | $250,000 | $295,000 | 18.0% | 0.2% |
| GSF Mortgage Corporation | $295,000 | n/a | 0.2% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $75,000 | $295,000 | 293.3% | 0.2% |
| GoPrime Mortgage, Inc. | $125,000 | $290,000 | 132.0% | 0.2% |
| First Community Bank of East Tennessee | $255,000 | n/a | 0.2% | |
| Towne Bank | $1,130,000 | $240,000 | -78.8% | 0.2% |
| Prosperity Home Mortgage, LLC | $225,000 | n/a | 0.2% | |
| TOWNE MORTGAGE COMPANY | $225,000 | n/a | 0.2% | |
| BETTER MORTGAGE CORPORATION | $305,000 | $215,000 | -29.5% | 0.2% |
| JUSTICE Federal Credit Union | $205,000 | n/a | 0.2% | |
| Bell Bank | $195,000 | n/a | 0.1% | |
| Mr. Cooper ( Nationstar Mortgage ) | $1,100,000 | $195,000 | -82.3% | 0.1% |
| FIRST FLIGHT FEDERAL CREDIT UNION | $105,000 | $190,000 | 81.0% | 0.1% |
| NFM, INC. | $190,000 | n/a | 0.1% | |
| Northwest Federal Credit Union | $190,000 | n/a | 0.1% | |
| NEW DAY FINANCIAL, LLC | $1,250,000 | $185,000 | -85.2% | 0.1% |
| LIMA ONE CAPITAL, LLC | $690,000 | $180,000 | -73.9% | 0.1% |
| BRIGHTSTAR | $175,000 | n/a | 0.1% | |
| ON Q FINANCIAL, INC. | $290,000 | $175,000 | -39.7% | 0.1% |
| KS Bank, Inc. | $165,000 | n/a | 0.1% | |
| Northpointe Bank | $165,000 | n/a | 0.1% | |
| TOP FLITE FINANCIAL, INC. | $330,000 | $155,000 | -53.0% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $145,000 | n/a | 0.1% | |
| Carrington Mortgage Services, LLC | $155,000 | $145,000 | -6.5% | 0.1% |
| DAS Acquisition Company, LLC | $145,000 | n/a | 0.1% | |
| Equity Prime Mortgage LLC | $145,000 | n/a | 0.1% | |
| Mid-Continent Funding, Inc. | $125,000 | $145,000 | 16.0% | 0.1% |
| SOUTHPOINT FINANCIAL SERVICES, INC. | $145,000 | n/a | 0.1% | |
| EQUITY RESOURCES, INC. | $270,000 | $135,000 | -50.0% | 0.1% |
| GUARANTY HOME MORTGAGE CORPORATION | $135,000 | n/a | 0.1% | |
| Nations Lending Corporation | $115,000 | $135,000 | 17.4% | 0.1% |
| SOUTHWEST STAGE FUNDING, LLC | $720,000 | $135,000 | -81.3% | 0.1% |
| CONTOUR MORTGAGE CORPORATION | $185,000 | $115,000 | -37.8% | 0.1% |
| Evolve Bank & Trust | $115,000 | n/a | 0.1% | |
| First Federal Savings and Loan Association of Lakewood | $115,000 | n/a | 0.1% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $270,000 | $115,000 | -57.4% | 0.1% |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $110,000 | n/a | 0.1% | |
| CITY FIRST MORTGAGE SERVICES, L.L.C. | $105,000 | n/a | 0.1% | |
| DEEPHAVEN MORTGAGE LLC | $105,000 | n/a | 0.1% | |
| RADIUS FINANCIAL GROUP INC. | $105,000 | n/a | 0.1% | |
| Union Savings Bank | $105,000 | n/a | 0.1% | |
| Coastal Bank & Trust | $85,000 | n/a | 0.1% | |
| CSL Financial, LLC | $85,000 | n/a | 0.1% | |
| First Bank | $65,000 | $85,000 | 30.8% | 0.1% |
| Third Federal Savings and Loan Association of Cleveland | $85,000 | n/a | 0.1% | |
| Deere Employees Credit Union | $75,000 | n/a | 0.1% | |
| FINANCE OF AMERICA REVERSE LLC | $75,000 | n/a | 0.1% | |
| BAYSHORE MORTGAGE FUNDING, LLC | $65,000 | n/a | 0.0% | |
| Figure Lending LLC | $70,000 | $65,000 | -7.1% | 0.0% |
| LEGEND LENDING CORPORATION | $65,000 | n/a | 0.0% | |
| MID AMERICA MORTGAGE, INC. | $65,000 | n/a | 0.0% | |
| ROYAL UNITED MORTGAGE LLC | $220,000 | $65,000 | -70.5% | 0.0% |
| SPRING EQ, LLC | $65,000 | n/a | 0.0% | |
| PENTAGON FEDERAL CREDIT UNION | $35,000 | n/a | 0.0% | |
| Truliant Federal Credit Union | $15,000 | $25,000 | 66.7% | 0.0% |
| CORNING | $15,000 | n/a | 0.0% |
Kinston's top lender by overall market share is STATE EMPLOYEES', with 14.6% market share. In second place, with 5.9%, is ATLANTIC BAY MORTGAGE GROUP, L.L.C., having originated $7,810,000 in loans. In third place, with 5.8%, is Southern Bank and Trust Company, having originated $7,630,000 in loans. In fourth place, with 4.6%, is Mortgage Research Center, LLC, having originated $6,090,000 in loans. In fifth place, with 4.2%, is QUICKEN LOANS, LLC, having originated $5,530,000 in loans.
Kinston, NC Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 545 | $99,635,000 | $182,817 |
| Refi | 86 | $10,060,000 | $116,977 |
| Home Improvement | 81 | $5,265,000 | $65,000 |
| Other | 79 | $5,895,000 | $74,620 |
| Cash Out Refi | 67 | $10,515,000 | $156,940 |
Kinston's most frequently cited loan purpose was Home Purchase, with 545 originations. The 2nd most popular reason was Refi, with 86 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 266 | $48,840,000 | $183,609 |
| 7-8% | 214 | $29,640,000 | $138,505 |
| 5-6% | 186 | $35,660,000 | $191,720 |
| Over 8% | 90 | $9,510,000 | $105,667 |
| 4-5% | 63 | $6,155,000 | $97,698 |
| <2.5% | 25 | $385,000 | $15,400 |
| 3-4% | 3 | $145,000 | $48,333 |
During 2023, Kinston's most frequently originated rate bucket was 6-7%, with 266 originations.
Loan Sizing (Kinston, NC MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 319 | $47,325,000 | $148,354 |
| $100,000 or less | 298 | $16,420,000 | $55,101 |
| $200k-400k | 220 | $57,010,000 | $259,136 |
| $400k-600k | 17 | $8,045,000 | $473,235 |
| $600k-1000k | 4 | $2,570,000 | $642,500 |
Kinston's loan sizing saw the bucket of loans from $100k-200k with 319 originations, totaling $47,325,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 404 | $79,660,000 | $197,178 |
| 60-80% | 138 | $23,570,000 | $170,797 |
| 20-40% | 103 | $7,375,000 | $71,602 |
| Under 20% | 85 | $2,305,000 | $27,118 |
| 40-60% | 78 | $8,140,000 | $104,359 |
| Over 100% | 41 | $9,335,000 | $227,683 |
Kinston's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 404 originations, totaling $79,660,000 in origination value.