Levelland Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Levelland averaged
6.23%
for the week of 2024-10-10, compared to the national average of
6.32% for the same period.
The average rate for the prior week (2024-10-03) was
6.03% and
one month ago for the week of 2024-09-05, the
average rate was 6.46%.
Levelland's average rate one year ago was 7.8%.
For refis of the same type during the week of 2024-10-10, the average rate
was 6.92%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-10-10 | 6.32% |
| Levelland 30 Year Fixed Rate | 2024-10-10 | 6.23% |
| Levelland 30 Year Fixed Rate Refi | 2024-10-10 | 6.92% |
| Levelland 15 Year Fixed Rate | 2024-10-10 | 5.21% |
| Levelland 15 Year Fixed Rate Refi | 2024-10-10 | 5.91% |
| Levelland 30 Year FHA | 2024-10-10 | 6.16% |
| Levelland 30 Year FHA Refi | 2024-10-10 | 6.3% |
| Levelland 30 Year USDA | 2024-10-10 | 6.18% |
| Levelland 30 Year USDA Refi | 2024-10-10 | 6.28% |
| Levelland 30 Year VA | 2024-10-10 | 5.95% |
| Levelland 30 Year VA Refi | 2024-10-10 | 5.65% |
Levelland 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 Levelland, 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.).
Levelland Average Closing Costs & Other Stats
Levelland, TX's 30 lenders originated 284
loans during 2023. The total origination value was $51,670,000, with an average loan value of
$181,937.
Levelland's average closing costs are $5,770.
The top Levelland lender as defined by loan originations is City Bank, with
14 loans originated. Their average total fees are
$7,731, which is $2,389
higher than the next largest lender,
TEXAS TECH.
The lowest fee Levelland lenders (with over 10 loans originated) are
TEXAS TECH ($5,342), City Bank ($7,731), .
The lowest rate Levelland lenders (with over 10 loans originated) are
City Bank (6.90%), TEXAS TECH (6.95%), .
Levelland, 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 |
|---|---|---|---|---|
| City Bank | $6,655,000 | $6,630,000 | -0.4% | 12.8% |
| FLAT BRANCH MORTGAGE, INC. | $1,310,000 | $6,030,000 | 360.3% | 11.7% |
| TEXAS TECH | $4,830,000 | $5,005,000 | 3.6% | 9.7% |
| Alliance Credit Union | $1,175,000 | $3,615,000 | 207.7% | 7.0% |
| QUICKEN LOANS, LLC | $2,230,000 | $2,770,000 | 24.2% | 5.4% |
| 21ST MORTGAGE CORPORATION | $3,475,000 | $2,415,000 | -30.5% | 4.7% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $3,200,000 | $1,935,000 | -39.5% | 3.7% |
| Prosperity Bank | $2,730,000 | $1,875,000 | -31.3% | 3.6% |
| CARDINAL FINANCIAL | $1,855,000 | $1,530,000 | -17.5% | 3.0% |
| Mortgage Research Center, LLC | $1,180,000 | $1,340,000 | 13.6% | 2.6% |
| HOMETRUST MORTGAGE COMPANY | $75,000 | $1,325,000 | 1,666.7% | 2.6% |
| Farm Credit Mid-America, ACA | $605,000 | $1,005,000 | 66.1% | 1.9% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $805,000 | $905,000 | 12.4% | 1.8% |
| T2 FINANCIAL LLC | $805,000 | n/a | 1.6% | |
| UNITED WHOLESALE MORTGAGE, LLC | $1,545,000 | $680,000 | -56.0% | 1.3% |
| Amarillo National Bank | $420,000 | $670,000 | 59.5% | 1.3% |
| THRIVE MORTGAGE, LLC | $360,000 | $630,000 | 75.0% | 1.2% |
| American National Bank & Trust | $575,000 | n/a | 1.1% | |
| TRIAD FINANCIAL SERVICES, INC. | $575,000 | $565,000 | -1.7% | 1.1% |
| Centennial Bank | $425,000 | $495,000 | 16.5% | 1.0% |
| Nations Lending Corporation | $475,000 | n/a | 0.9% | |
| FREEDOM MORTGAGE CORPORATION | $290,000 | $450,000 | 55.2% | 0.9% |
| COUNTRYPLACE MORTGAGE, LTD. | $405,000 | n/a | 0.8% | |
| NAVY FEDERAL CREDIT UNION | $400,000 | n/a | 0.8% | |
| GUILD MORTGAGE COMPANY | $325,000 | n/a | 0.6% | |
| BROKER SOLUTIONS, INC. | $195,000 | $315,000 | 61.5% | 0.6% |
| SFMC, LP | $315,000 | n/a | 0.6% | |
| HOMESPIRE MORTGAGE CORPORATION | $390,000 | $290,000 | -25.6% | 0.6% |
| Citizens Bank | $255,000 | n/a | 0.5% | |
| Gateway First Bank | $260,000 | $255,000 | -1.9% | 0.5% |
| SIWELL, INC. | $235,000 | n/a | 0.5% | |
| INTEGRITY MORTGAGE CORPORATION OF TEXAS | $215,000 | n/a | 0.4% | |
| MID AMERICA MORTGAGE, INC. | $215,000 | n/a | 0.4% | |
| ROYAL UNITED MORTGAGE LLC | $160,000 | $210,000 | 31.3% | 0.4% |
| CMG MORTGAGE, INC. | $195,000 | n/a | 0.4% | |
| PENNYMAC LOAN SERVICES, LLC | $740,000 | $185,000 | -75.0% | 0.4% |
| SUMMIT FUNDING, INC. | $185,000 | n/a | 0.4% | |
| Community National Bank | $125,000 | $180,000 | 44.0% | 0.3% |
| BNC National Bank | $175,000 | n/a | 0.3% | |
| NATIONS RELIABLE LENDING, LLC | $165,000 | n/a | 0.3% | |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $165,000 | n/a | 0.3% | |
| SOUTHWEST STAGE FUNDING, LLC | $680,000 | $165,000 | -75.7% | 0.3% |
| LOANDEPOT.COM, LLC | $715,000 | $145,000 | -79.7% | 0.3% |
| ZILLOW HOME LOANS, LLC | $350,000 | $145,000 | -58.6% | 0.3% |
| MORTGAGE FINANCIAL SERVICES, LLC | $215,000 | $135,000 | -37.2% | 0.3% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $225,000 | $135,000 | -40.0% | 0.3% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $45,000 | $135,000 | 200.0% | 0.3% |
| LONE STAR STATE BANK | $125,000 | n/a | 0.2% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $240,000 | $115,000 | -52.1% | 0.2% |
| EVERETT FINANCIAL, INC. | $85,000 | $105,000 | 23.5% | 0.2% |
| Mr. Cooper ( Nationstar Mortgage ) | $370,000 | $105,000 | -71.6% | 0.2% |
| TEXAS DOW EMPLOYEES CREDIT UNION | $105,000 | n/a | 0.2% | |
| Wells Fargo Bank | $250,000 | $100,000 | -60.0% | 0.2% |
| OCMBC, INC. | $90,000 | n/a | 0.2% | |
| United Community Bank | $230,000 | $85,000 | -63.0% | 0.2% |
| Equity Prime Mortgage LLC | $75,000 | n/a | 0.1% | |
| RANLIFE, INC. | $75,000 | n/a | 0.1% | |
| Vista Bank | $120,000 | $55,000 | -54.2% | 0.1% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $185,000 | $45,000 | -75.7% | 0.1% |
| First United Bank | $315,000 | $25,000 | -92.1% | 0.0% |
Levelland's top lender by overall market share is City Bank, with 12.8% market share. In second place, with 11.7%, is FLAT BRANCH MORTGAGE, INC., having originated $6,030,000 in loans. In third place, with 9.7%, is TEXAS TECH, having originated $5,005,000 in loans. In fourth place, with 7.0%, is Alliance Credit Union, having originated $3,615,000 in loans. In fifth place, with 5.4%, is QUICKEN LOANS, LLC, having originated $2,770,000 in loans.
Levelland, TX Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 227 | $43,165,000 | $190,154 |
| Refi | 28 | $5,690,000 | $203,214 |
| Other | 11 | $1,015,000 | $92,273 |
| Cash Out Refi | 11 | $1,155,000 | $105,000 |
| Home Improvement | 7 | $645,000 | $92,143 |
Levelland's most frequently cited loan purpose was Home Purchase, with 227 originations. The 2nd most popular reason was Refi, with 28 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 109 | $22,945,000 | $210,505 |
| 7-8% | 82 | $16,620,000 | $202,683 |
| Over 8% | 54 | $5,530,000 | $102,407 |
| 5-6% | 26 | $5,880,000 | $226,154 |
| <2.5% | 4 | $20,000 | $5,000 |
| 2.5-3% | 2 | $70,000 | $35,000 |
During 2023, Levelland's most frequently originated rate bucket was 6-7%, with 109 originations.
Loan Sizing (Levelland, TX MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 111 | $16,465,000 | $148,333 |
| $100,000 or less | 77 | $5,155,000 | $66,948 |
| $200k-400k | 77 | $20,635,000 | $267,987 |
| $400k-600k | 18 | $8,810,000 | $489,444 |
| $600k-1000k | 1 | $605,000 | $605,000 |
Levelland's loan sizing saw the bucket of loans from $100k-200k with 111 originations, totaling $16,465,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 176 | $34,300,000 | $194,886 |
| 60-80% | 60 | $12,870,000 | $214,500 |
| 40-60% | 20 | $2,010,000 | $100,500 |
| Under 20% | 10 | $330,000 | $33,000 |
| 20-40% | 7 | $815,000 | $116,429 |
| Over 100% | 3 | $505,000 | $168,333 |
Levelland's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 176 originations, totaling $34,300,000 in origination value.