LAREDO Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Laredo averaged
6.75%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.78% and
one month ago for the week of 2024-10-03, the
average rate was 5.88%.
Laredo's average rate one year ago was 7.62%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.09%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Laredo 30 Year Fixed Rate | 2024-11-07 | 6.75% |
| Laredo 30 Year Fixed Rate Refi | 2024-11-07 | 7.09% |
| Laredo 15 Year Fixed Rate | 2024-11-07 | 6.2% |
| Laredo 15 Year Fixed Rate Refi | 2024-11-07 | 6% |
| Laredo 30 Year FHA | 2024-11-07 | 6.03% |
| Laredo 30 Year FHA Refi | 2024-11-07 | 6.23% |
| Laredo 30 Year USDA | 2024-11-07 | 6.48% |
| Laredo 30 Year USDA Refi | 2024-11-07 | 6.28% |
| Laredo 30 Year VA | 2024-11-07 | 6.18% |
| Laredo 30 Year VA Refi | 2024-11-07 | 6.14% |
LAREDO 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 LAREDO, TX 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.).
LAREDO Average Closing Costs & Other Stats
LAREDO, TX's 71 lenders originated 2,357
loans during 2023. The total origination value was $512,685,000, with an average loan value of
$217,516.
LAREDO's average closing costs are $7,345.
The top LAREDO lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
62 loans originated. Their average total fees are
$9,990, which is $1,090
higher than the next largest lender,
PRIMELENDING, A PLAINSCAPITAL COMPANY.
The lowest fee LAREDO lenders (with over 10 loans originated) are
International Bank of Commerce ($4,763), MOVEMENT MORTGAGE, LLC ($7,335), QUICKEN LOANS, LLC ($7,396), PENNYMAC LOAN SERVICES, LLC ($7,910) and CMG MORTGAGE, INC. ($7,974).
The lowest rate LAREDO lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (6.34%), UNITED WHOLESALE MORTGAGE, LLC (6.42%), International Bank of Commerce (6.46%), Flagstar Bank, FSB (6.60%) and PRIMELENDING, A PLAINSCAPITAL COMPANY (6.79%).
LAREDO, TX 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 |
|---|---|---|---|---|
| UNITED WHOLESALE MORTGAGE, LLC | $37,250,000 | $64,550,000 | 73.3% | 12.6% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $41,330,000 | $57,845,000 | 40.0% | 11.3% |
| Flagstar Bank, FSB | $32,640,000 | $32,970,000 | 1.0% | 6.4% |
| MOVEMENT MORTGAGE, LLC | $13,615,000 | $25,785,000 | 89.4% | 5.0% |
| CMG MORTGAGE, INC. | $15,090,000 | $21,005,000 | 39.2% | 4.1% |
| PENNYMAC LOAN SERVICES, LLC | $14,795,000 | $20,775,000 | 40.4% | 4.1% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $1,000,000 | $20,210,000 | 1,921.0% | 3.9% |
| QUICKEN LOANS, LLC | $36,425,000 | $17,985,000 | -50.6% | 3.5% |
| CBRE MULTIFAMILY CAPITAL, INC. | $13,915,000 | n/a | 2.7% | |
| First Option Mortgage, LLC | $15,855,000 | $12,160,000 | -23.3% | 2.4% |
| International Bank of Commerce | $11,210,000 | $12,130,000 | 8.2% | 2.4% |
| PNC Bank | $9,740,000 | $10,905,000 | 12.0% | 2.1% |
| SFMC, LP | $53,525,000 | $10,480,000 | -80.4% | 2.0% |
| THRIVE MORTGAGE, LLC | $7,840,000 | $9,920,000 | 26.5% | 1.9% |
| LEADERONE FINANCIAL CORPORATION | $7,705,000 | $8,840,000 | 14.7% | 1.7% |
| FREEDOM MORTGAGE CORPORATION | $9,130,000 | $8,540,000 | -6.5% | 1.7% |
| Texas Community Bank | $14,850,000 | $8,145,000 | -45.2% | 1.6% |
| AMCAP MORTGAGE, LTD. | $1,210,000 | $8,125,000 | 571.5% | 1.6% |
| MORTGAGE FINANCIAL SERVICES, LLC | $32,000,000 | $7,785,000 | -75.7% | 1.5% |
| VAN DYK MORTGAGE CORPORATION | $28,145,000 | $6,145,000 | -78.2% | 1.2% |
| Falcon International Bank | $13,120,000 | $6,080,000 | -53.7% | 1.2% |
| THE MORTGAGE LINK, INC. | $5,905,000 | $5,585,000 | -5.4% | 1.1% |
| Gateway First Bank | $9,590,000 | $5,405,000 | -43.6% | 1.1% |
| JPMorgan Chase Bank | $4,715,000 | $5,405,000 | 14.6% | 1.1% |
| Equity Prime Mortgage LLC | $185,000 | $4,970,000 | 2,586.5% | 1.0% |
| Paramount Residential Mortgage Group, Inc. | $6,500,000 | $4,970,000 | -23.5% | 1.0% |
| UNION HOME MORTGAGE CORP. | $9,100,000 | $4,950,000 | -45.6% | 1.0% |
| Mortgage Research Center, LLC | $5,475,000 | $4,710,000 | -14.0% | 0.9% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $225,000 | $3,665,000 | 1,528.9% | 0.7% |
| Bank of America | $1,800,000 | $3,530,000 | 96.1% | 0.7% |
| Wells Fargo Bank | $7,810,000 | $3,300,000 | -57.7% | 0.6% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $12,115,000 | $3,005,000 | -75.2% | 0.6% |
| BM Real Estate Services, Inc. | $10,545,000 | $2,710,000 | -74.3% | 0.5% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $2,665,000 | n/a | 0.5% | |
| Sunflower Bank | $285,000 | $2,505,000 | 778.9% | 0.5% |
| 21ST MORTGAGE CORPORATION | $2,675,000 | $2,500,000 | -6.5% | 0.5% |
| NEWREZ LLC | $2,435,000 | $2,495,000 | 2.5% | 0.5% |
| LAREDO FEDERAL CREDIT UNION | $2,220,000 | n/a | 0.4% | |
| NAVY FEDERAL CREDIT UNION | $2,885,000 | $2,210,000 | -23.4% | 0.4% |
| Mr. Cooper ( Nationstar Mortgage ) | $5,955,000 | $2,190,000 | -63.2% | 0.4% |
| ADVANCIAL | $2,185,000 | n/a | 0.4% | |
| Vantage Bank Texas | $4,810,000 | $2,130,000 | -55.7% | 0.4% |
| OCMBC, INC. | $645,000 | $2,040,000 | 216.3% | 0.4% |
| SECURITY SERVICE | $6,240,000 | $2,025,000 | -67.5% | 0.4% |
| SECURITYNATIONAL MORTGAGE COMPANY | $4,760,000 | $1,955,000 | -58.9% | 0.4% |
| CHERRY CREEK MORTGAGE, LLC | $1,915,000 | $1,905,000 | -0.5% | 0.4% |
| CARDINAL FINANCIAL | $1,910,000 | $1,715,000 | -10.2% | 0.3% |
| LOANDEPOT.COM, LLC | $5,970,000 | $1,680,000 | -71.9% | 0.3% |
| DOMINION FINANCIAL SERVICES, LLC | $1,720,000 | $1,590,000 | -7.6% | 0.3% |
| RANDOLPH-BROOKS | $1,440,000 | $1,575,000 | 9.4% | 0.3% |
| AmeriHome Mortgage Company, LLC | $575,000 | $1,375,000 | 139.1% | 0.3% |
| Carrington Mortgage Services, LLC | $2,200,000 | $1,345,000 | -38.9% | 0.3% |
| Bank of England | $2,140,000 | $1,245,000 | -41.8% | 0.2% |
| GUILD MORTGAGE COMPANY | $225,000 | $1,190,000 | 428.9% | 0.2% |
| LENDSURE MORTGAGE CORP. | $1,855,000 | $1,180,000 | -36.4% | 0.2% |
| JMAC LENDING, INC. | $1,145,000 | n/a | 0.2% | |
| PLAZA HOME MORTGAGE, INC. | $500,000 | $1,125,000 | 125.0% | 0.2% |
| Discover Bank | $105,000 | $1,100,000 | 947.6% | 0.2% |
| First Horizon Bank | $1,100,000 | n/a | 0.2% | |
| Rio Bank | $1,475,000 | $1,070,000 | -27.5% | 0.2% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $445,000 | $955,000 | 114.6% | 0.2% |
| Regions Bank | $2,025,000 | $905,000 | -55.3% | 0.2% |
| Lone Star National Bank | $870,000 | n/a | 0.2% | |
| MLB RESIDENTIAL LENDING, LLC | $850,000 | n/a | 0.2% | |
| DEEPHAVEN MORTGAGE LLC | $155,000 | $820,000 | 429.0% | 0.2% |
| BETTER MORTGAGE CORPORATION | $1,080,000 | $705,000 | -34.7% | 0.1% |
| FirstBank | $360,000 | $700,000 | 94.4% | 0.1% |
| U.S. Bank | $1,135,000 | $695,000 | -38.8% | 0.1% |
| AMERISAVE MORTGAGE CORPORATION | $2,095,000 | $650,000 | -69.0% | 0.1% |
| The Loan Store, Inc. | $620,000 | n/a | 0.1% | |
| CROSSCOUNTRY MORTGAGE, LLC | $7,990,000 | $600,000 | -92.5% | 0.1% |
| SUN WEST MORTGAGE COMPANY, INC. | $575,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $755,000 | $565,000 | -25.2% | 0.1% |
| SOUTHWEST STAGE FUNDING, LLC | $95,000 | $550,000 | 478.9% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $1,890,000 | $545,000 | -71.2% | 0.1% |
| AMWEST FUNDING CORP. | $1,295,000 | $530,000 | -59.1% | 0.1% |
| Citizens Bank | $3,655,000 | $500,000 | -86.3% | 0.1% |
| TRIAD FINANCIAL SERVICES, INC. | $290,000 | $490,000 | 69.0% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $345,000 | $480,000 | 39.1% | 0.1% |
| Keystone Funding, Inc. | $470,000 | n/a | 0.1% | |
| Credit Union of Texas | $155,000 | $460,000 | 196.8% | 0.1% |
| Waterstone Mortgage Corporation | $660,000 | $425,000 | -35.6% | 0.1% |
| NexBank | $420,000 | n/a | 0.1% | |
| CHURCHILL MORTGAGE CORPORATION | $405,000 | $415,000 | 2.5% | 0.1% |
| V.I.P. MORTGAGE, INC. | $665,000 | $410,000 | -38.3% | 0.1% |
| Hancock Whitney Bank | $405,000 | n/a | 0.1% | |
| GARDNER FINANCIAL SERVICES, LTD. | $395,000 | n/a | 0.1% | |
| DIRECTIONS EQUITY, LLC | $185,000 | $390,000 | 110.8% | 0.1% |
| CITIZENS EQUITY FIRST | $375,000 | n/a | 0.1% | |
| CIVIC FINANCIAL SERVICES, LLC | $365,000 | n/a | 0.1% | |
| MORTGAGEONE, INC. | $365,000 | n/a | 0.1% | |
| Prosperity Bank | $275,000 | $365,000 | 32.7% | 0.1% |
| Deere Employees Credit Union | $360,000 | n/a | 0.1% | |
| LOANPAL, LLC | $2,820,000 | $340,000 | -87.9% | 0.1% |
| ENCORE BANK | $325,000 | n/a | 0.1% | |
| HOMEXPRESS MORTGAGE CORP. | $305,000 | n/a | 0.1% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $115,000 | $290,000 | 152.2% | 0.1% |
| Truist | $890,000 | $285,000 | -68.0% | 0.1% |
| ZILLOW HOME LOANS, LLC | $285,000 | n/a | 0.1% | |
| AMERICAN FINANCIAL NETWORK, INC. | $275,000 | n/a | 0.1% | |
| VELOCITY COMMERCIAL CAPITAL, LLC | $195,000 | $275,000 | 41.0% | 0.1% |
| M&T Bank | $535,000 | $265,000 | -50.5% | 0.1% |
| USAA Federal Savings Bank | $2,155,000 | $255,000 | -88.2% | 0.0% |
| MID AMERICA MORTGAGE, INC. | $6,435,000 | $250,000 | -96.1% | 0.0% |
| NATIONS DIRECT MORTGAGE, LLC | $8,605,000 | $245,000 | -97.2% | 0.0% |
| UNIVERSITY Federal Credit Union | $410,000 | $245,000 | -40.2% | 0.0% |
| First Liberty Bank | $240,000 | n/a | 0.0% | |
| RESIDENTIAL BANCORP | $235,000 | n/a | 0.0% | |
| PANORAMA MORTGAGE GROUP, LLC | $6,950,000 | $230,000 | -96.7% | 0.0% |
| BECKAM FUNDING CORP. | $225,000 | n/a | 0.0% | |
| CANOPY MORTGAGE, LLC | $225,000 | n/a | 0.0% | |
| ENVOY MORTGAGE, LTD | $225,000 | n/a | 0.0% | |
| VELOCIO MORTGAGE L.L.C. | $305,000 | $225,000 | -26.2% | 0.0% |
| S1L, Inc. | $655,000 | $215,000 | -67.2% | 0.0% |
| Wallick & Volk, Inc. | $215,000 | n/a | 0.0% | |
| H E B | $45,000 | $195,000 | 333.3% | 0.0% |
| JUSTICE Federal Credit Union | $195,000 | n/a | 0.0% | |
| PLANET HOME LENDING, LLC | $1,200,000 | $195,000 | -83.8% | 0.0% |
| ACADEMY MORTGAGE CORPORATION | $595,000 | $190,000 | -68.1% | 0.0% |
| LAKEVIEW LOAN SERVICING, LLC | $955,000 | $175,000 | -81.7% | 0.0% |
| BROKER SOLUTIONS, INC. | $335,000 | $155,000 | -53.7% | 0.0% |
| FBC MORTGAGE, LLC | $155,000 | n/a | 0.0% | |
| GENEVA FINANCIAL, LLC | $155,000 | n/a | 0.0% | |
| INTOUCH CREDIT UNION | $155,000 | n/a | 0.0% | |
| LENDINGHOME FUNDING CORPORATION | $155,000 | n/a | 0.0% | |
| CSL Financial, LLC | $140,000 | n/a | 0.0% | |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $1,260,000 | $135,000 | -89.3% | 0.0% |
| BOKF | $45,000 | $135,000 | 200.0% | 0.0% |
| Century Mortgage Company DBA Century Lending Company | $135,000 | n/a | 0.0% | |
| FINANCE OF AMERICA REVERSE LLC | $240,000 | $135,000 | -43.8% | 0.0% |
| A&D Mortgage LLC | $125,000 | n/a | 0.0% | |
| Frost Bank | $100,000 | $115,000 | 15.0% | 0.0% |
| NAVY ARMY COMMUNITY CREDIT UNION | $75,000 | n/a | 0.0% | |
| United Community Bank | $85,000 | $65,000 | -23.5% | 0.0% |
| PHH Mortgage Corporation | $55,000 | n/a | 0.0% | |
| Zions Bank | $655,000 | $55,000 | -91.6% | 0.0% |
| A+ Federal Credit Union | $185,000 | $45,000 | -75.7% | 0.0% |
LAREDO's top lender by overall market share is UNITED WHOLESALE MORTGAGE, LLC, with 12.6% market share. In second place, with 11.3%, is PRIMELENDING, A PLAINSCAPITAL COMPANY, having originated $57,845,000 in loans. In third place, with 6.4%, is Flagstar Bank, FSB, having originated $32,970,000 in loans. In fourth place, with 5.0%, is MOVEMENT MORTGAGE, LLC, having originated $25,785,000 in loans. In fifth place, with 4.1%, is CMG MORTGAGE, INC., having originated $21,005,000 in loans.
LAREDO, TX Average Rent (2023)
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| Zip Code | Metro | Studio Apartment Rent | 1BR Apartment Rent | 2BR Apartment Rent | 3BR Apartment Rent | 4BR Apartment Rent |
|---|---|---|---|---|---|---|
| 78019 | Laredo, TX MSA | $800 | $800 | $1,000 | $1,280 | $1,390 |
| 78040 | Laredo, TX MSA | $730 | $740 | $920 | $1,180 | $1,280 |
| 78041 | Laredo, TX MSA | $800 | $810 | $1,010 | $1,300 | $1,400 |
| 78042 | Laredo, TX MSA | $800 | $800 | $1,000 | $1,280 | $1,390 |
| 78043 | Laredo, TX MSA | $780 | $780 | $980 | $1,260 | $1,360 |
| 78044 | Laredo, TX MSA | $800 | $800 | $1,000 | $1,280 | $1,390 |
| 78045 | Laredo, TX MSA | $1,080 | $1,090 | $1,360 | $1,740 | $1,890 |
| 78046 | Laredo, TX MSA | $800 | $800 | $1,000 | $1,280 | $1,390 |
| 78344 | Laredo, TX MSA | $800 | $800 | $1,000 | $1,280 | $1,390 |
| 78369 | Laredo, TX MSA | $800 | $800 | $1,000 | $1,280 | $1,390 |
| 78371 | Laredo, TX MSA | $800 | $800 | $1,000 | $1,280 | $1,390 |
2022 Average & Median Rent Data Statistics
LAREDO, TX average 1BR rent: $820, median: $800
LAREDO, TX average 2BR rent: $1,025, median: $1,000
LAREDO, TX average 3BR rent: $1,313, median: $1,280
LAREDO, TX Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,938 | $434,620,000 | $224,262 |
| Cash Out Refi | 156 | $27,630,000 | $177,115 |
| Refi | 101 | $33,665,000 | $333,317 |
| Other | 95 | $10,285,000 | $108,263 |
| Home Improvement | 67 | $6,485,000 | $96,791 |
Laredo's most frequently cited loan purpose was Home Purchase, with 1,938 originations. The 2nd most popular reason was Cash Out Refi, with 156 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 834 | $203,620,000 | $244,149 |
| 5-6% | 577 | $139,885,000 | $242,435 |
| 7-8% | 375 | $87,755,000 | $234,013 |
| Over 8% | 245 | $35,665,000 | $145,571 |
| <2.5% | 160 | $830,000 | $5,188 |
| 4-5% | 39 | $23,835,000 | $611,154 |
| 3-4% | 4 | $700,000 | $175,000 |
| 2.5-3% | 3 | $595,000 | $198,333 |
During 2023, Laredo's most frequently originated rate bucket was 6-7%, with 834 originations.
Loan Sizing (LAREDO, TX MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 1,205 | $317,795,000 | $263,730 |
| $100k-200k | 608 | $97,300,000 | $160,033 |
| $100,000 or less | 426 | $16,420,000 | $38,545 |
| $400k-600k | 89 | $41,235,000 | $463,315 |
| $600k-1000k | 21 | $14,855,000 | $707,381 |
| $Over $1MM | 8 | $25,080,000 | $3,135,000 |
LAREDO's loan sizing saw the bucket of loans from $200k-400k with 1,205 originations, totaling $317,795,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 1,476 | $366,330,000 | $248,191 |
| 60-80% | 330 | $89,640,000 | $271,636 |
| Under 20% | 238 | $3,340,000 | $14,034 |
| 40-60% | 101 | $16,905,000 | $167,376 |
| 20-40% | 95 | $9,665,000 | $101,737 |
| Over 100% | 17 | $5,965,000 | $350,882 |
LAREDO's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,476 originations, totaling $366,330,000 in origination value.