Logansport Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Logansport averaged
7.09%
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
6.82% and
one month ago for the week of 2024-10-03, the
average rate was 6.22%.
Logansport's average rate one year ago was 7.96%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.39%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Logansport 30 Year Fixed Rate | 2024-11-07 | 7.09% |
| Logansport 30 Year Fixed Rate Refi | 2024-11-07 | 7.39% |
| Logansport 15 Year Fixed Rate | 2024-11-07 | 6% |
| Logansport 15 Year Fixed Rate Refi | 2024-11-07 | 5.9% |
| Logansport 30 Year FHA | 2024-11-07 | 6.59% |
| Logansport 30 Year FHA Refi | 2024-11-07 | 6.53% |
| Logansport 30 Year USDA | 2024-11-07 | 6.28% |
| Logansport 30 Year USDA Refi | 2024-11-07 | 6.28% |
| Logansport 30 Year VA | 2024-11-07 | 6.34% |
| Logansport 30 Year VA Refi | 2024-11-07 | 6.34% |
Logansport 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 Logansport, IN 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.).
Logansport Average Closing Costs & Other Stats
Logansport, IN's 44 lenders originated 588
loans during 2023. The total origination value was $69,520,000, with an average loan value of
$118,231.
Logansport's average closing costs are $3,228.
The top Logansport lender as defined by loan originations is Security Federal Savings Bank, with
58 loans originated. Their average total fees are
$2,090, which is $2,577
lower than the next largest lender,
MOVEMENT MORTGAGE, LLC.
The lowest fee Logansport lenders (with over 10 loans originated) are
First Farmers Bank and Trust Company ($1,952), Security Federal Savings Bank ($2,090), BEACON CREDIT UNION ($2,144), RUOFF MORTGAGE COMPANY, INC. ($2,730) and MOVEMENT MORTGAGE, LLC ($4,667).
The lowest rate Logansport lenders (with over 10 loans originated) are
BEACON CREDIT UNION (6.21%), Security Federal Savings Bank (6.90%), RUOFF MORTGAGE COMPANY, INC. (7.00%), MOVEMENT MORTGAGE, LLC (7.16%) and First Farmers Bank and Trust Company (7.51%).
Logansport, IN 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 |
|---|---|---|---|---|
| Security Federal Savings Bank | $16,975,000 | $10,075,000 | -40.6% | 14.5% |
| MOVEMENT MORTGAGE, LLC | $4,115,000 | $8,160,000 | 98.3% | 11.7% |
| First Farmers Bank and Trust Company | $4,170,000 | $5,760,000 | 38.1% | 8.3% |
| RUOFF MORTGAGE COMPANY, INC. | $7,790,000 | $4,180,000 | -46.3% | 6.0% |
| PLAZA HOME MORTGAGE, INC. | $4,280,000 | $3,085,000 | -27.9% | 4.4% |
| Horizon Bank | $3,175,000 | $2,955,000 | -6.9% | 4.3% |
| BEACON CREDIT UNION | $2,695,000 | $2,640,000 | -2.0% | 3.8% |
| QUICKEN LOANS, LLC | $4,030,000 | $2,560,000 | -36.5% | 3.7% |
| Mortgage Research Center, LLC | $1,500,000 | $2,525,000 | 68.3% | 3.6% |
| First Federal Savings Bank | $3,030,000 | $2,245,000 | -25.9% | 3.2% |
| UNITED WHOLESALE MORTGAGE, LLC | $865,000 | $1,790,000 | 106.9% | 2.6% |
| PNC Bank | $2,735,000 | $1,380,000 | -49.5% | 2.0% |
| Community First Bank of Indiana | $1,950,000 | $1,175,000 | -39.7% | 1.7% |
| NEWREZ LLC | $190,000 | $1,165,000 | 513.2% | 1.7% |
| GVC MORTGAGE, INC. | $1,230,000 | $1,030,000 | -16.3% | 1.5% |
| LOANDEPOT.COM, LLC | $880,000 | $835,000 | -5.1% | 1.2% |
| CALIBER HOME LOANS, INC. | $875,000 | $730,000 | -16.6% | 1.1% |
| First Merchants Bank | $5,125,000 | $695,000 | -86.4% | 1.0% |
| Regions Bank | $545,000 | $670,000 | 22.9% | 1.0% |
| The Huntington National Bank | $1,700,000 | $615,000 | -63.8% | 0.9% |
| TRIAD FINANCIAL SERVICES, INC. | $400,000 | $615,000 | 53.8% | 0.9% |
| Ixonia Bank | $610,000 | n/a | 0.9% | |
| STAR Financial Bank | $115,000 | $555,000 | 382.6% | 0.8% |
| Mr. Cooper ( Nationstar Mortgage ) | $1,440,000 | $495,000 | -65.6% | 0.7% |
| PENNYMAC LOAN SERVICES, LLC | $1,165,000 | $445,000 | -61.8% | 0.6% |
| STOCKTON MORTGAGE CORPORATION | $1,100,000 | $425,000 | -61.4% | 0.6% |
| FREEDOM MORTGAGE CORPORATION | $420,000 | n/a | 0.6% | |
| FINANCIAL BUILDERS Federal Credit Union | $320,000 | $410,000 | 28.1% | 0.6% |
| Centier Bank | $170,000 | $395,000 | 132.4% | 0.6% |
| JPMorgan Chase Bank | $420,000 | $395,000 | -6.0% | 0.6% |
| First Federal Savings Bank | $3,030,000 | $385,000 | -87.3% | 0.6% |
| ROYAL UNITED MORTGAGE LLC | $500,000 | $385,000 | -23.0% | 0.6% |
| BROKER SOLUTIONS, INC. | $785,000 | $380,000 | -51.6% | 0.5% |
| NEW DAY FINANCIAL, LLC | $285,000 | $365,000 | 28.1% | 0.5% |
| Solidarity Community Federal Credit Union | $1,460,000 | $365,000 | -75.0% | 0.5% |
| Centra Credit Union | $335,000 | n/a | 0.5% | |
| PANORAMA MORTGAGE GROUP, LLC | $540,000 | $335,000 | -38.0% | 0.5% |
| CROSSCOUNTRY MORTGAGE, LLC | $65,000 | $320,000 | 392.3% | 0.5% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $305,000 | n/a | 0.4% | |
| Home Bank SB | $285,000 | n/a | 0.4% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $180,000 | $285,000 | 58.3% | 0.4% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $940,000 | $275,000 | -70.7% | 0.4% |
| GUARANTEED RATE, INC. | $275,000 | n/a | 0.4% | |
| PENTAGON FEDERAL CREDIT UNION | $265,000 | n/a | 0.4% | |
| POLARIS HOME FUNDING CORP. | $195,000 | $255,000 | 30.8% | 0.4% |
| TEACHERS CREDIT UNION | $55,000 | $225,000 | 309.1% | 0.3% |
| UNION HOME MORTGAGE CORP. | $220,000 | n/a | 0.3% | |
| Discover Bank | $85,000 | $215,000 | 152.9% | 0.3% |
| NAVY FEDERAL CREDIT UNION | $600,000 | $215,000 | -64.2% | 0.3% |
| AMERICAN FINANCIAL NETWORK, INC. | $205,000 | n/a | 0.3% | |
| Bankers' Bank | $205,000 | n/a | 0.3% | |
| Bank of England | $205,000 | n/a | 0.3% | |
| OPEN MORTGAGE, LLC | $95,000 | $190,000 | 100.0% | 0.3% |
| AMERISAVE MORTGAGE CORPORATION | $880,000 | $185,000 | -79.0% | 0.3% |
| FLAT BRANCH MORTGAGE, INC. | $125,000 | $175,000 | 40.0% | 0.3% |
| FORUM Credit Union | $130,000 | $175,000 | 34.6% | 0.3% |
| KeyBank | $170,000 | n/a | 0.2% | |
| American Mortgage & Equity Consultants, Inc. | $165,000 | n/a | 0.2% | |
| Sterling United FCU | $155,000 | n/a | 0.2% | |
| VILLAGE CAPITAL MORTGAGE | $155,000 | n/a | 0.2% | |
| CARDINAL FINANCIAL | $240,000 | $145,000 | -39.6% | 0.2% |
| SUCCESS MORTGAGE PARTNERS, INC. | $85,000 | $145,000 | 70.6% | 0.2% |
| TOP FLITE FINANCIAL, INC. | $145,000 | n/a | 0.2% | |
| U.S. Bank | $185,000 | $145,000 | -21.6% | 0.2% |
| CMG MORTGAGE, INC. | $135,000 | n/a | 0.2% | |
| MEMBER FIRST MORTGAGE, LLC | $135,000 | n/a | 0.2% | |
| M&T Bank | $135,000 | n/a | 0.2% | |
| HALLMARK HOME MORTGAGE, LLC | $330,000 | $125,000 | -62.1% | 0.2% |
| Fifth Third Bank | $615,000 | $110,000 | -82.1% | 0.2% |
| LAKEVIEW LOAN SERVICING, LLC | $365,000 | $105,000 | -71.2% | 0.2% |
| Prosperity Home Mortgage, LLC | $145,000 | $105,000 | -27.6% | 0.2% |
| GUILD MORTGAGE COMPANY | $95,000 | n/a | 0.1% | |
| Industrial Federal Credit Union | $50,000 | $95,000 | 90.0% | 0.1% |
| LIBERTY HOME MORTGAGE CORPORATION | $95,000 | n/a | 0.1% | |
| Alliance Bank | $35,000 | $75,000 | 114.3% | 0.1% |
| Citizens Bank | $35,000 | $75,000 | 114.3% | 0.1% |
| Farm Credit Mid-America, ACA | $705,000 | $75,000 | -89.4% | 0.1% |
| Notre Dame Federal Credit Union Corporation | $75,000 | n/a | 0.1% | |
| AMERICAN FINANCING CORPORATION | $65,000 | n/a | 0.1% | |
| BAYSHORE MORTGAGE FUNDING, LLC | $65,000 | n/a | 0.1% | |
| Merchants Mortgage & Trust Corporation | $65,000 | n/a | 0.1% | |
| Figure Lending LLC | $15,000 | $60,000 | 300.0% | 0.1% |
| First Financial Bank | $180,000 | $55,000 | -69.4% | 0.1% |
| Flagstar Bank, FSB | $265,000 | $55,000 | -79.2% | 0.1% |
| BMO Harris Bank | $55,000 | $45,000 | -18.2% | 0.1% |
| Crossroads Bank | $490,000 | $45,000 | -90.8% | 0.1% |
| First Financial Bank | $180,000 | $45,000 | -75.0% | 0.1% |
| Bank of America | $65,000 | $35,000 | -46.2% | 0.1% |
| State Department Federal Credit Union | $35,000 | n/a | 0.1% | |
| The Farmers Bank, Frankfort, Indiana | $385,000 | $35,000 | -90.9% | 0.1% |
| Lake City Bank | $330,000 | $25,000 | -92.4% | 0.0% |
| SPRING EQ, LLC | $55,000 | $15,000 | -72.7% | 0.0% |
Logansport's top lender by overall market share is Security Federal Savings Bank, with 14.5% market share. In second place, with 11.7%, is MOVEMENT MORTGAGE, LLC, having originated $8,160,000 in loans. In third place, with 8.3%, is First Farmers Bank and Trust Company, having originated $5,760,000 in loans. In fourth place, with 6.0%, is RUOFF MORTGAGE COMPANY, INC., having originated $4,180,000 in loans. In fifth place, with 4.4%, is PLAZA HOME MORTGAGE, INC., having originated $3,085,000 in loans.
Logansport, IN Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 357 | $50,825,000 | $142,367 |
| Cash Out Refi | 111 | $11,285,000 | $101,667 |
| Other | 46 | $2,690,000 | $58,478 |
| Refi | 41 | $3,365,000 | $82,073 |
| Home Improvement | 33 | $1,355,000 | $41,061 |
Logansport's most frequently cited loan purpose was Home Purchase, with 357 originations. The 2nd most popular reason was Cash Out Refi, with 111 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 238 | $30,610,000 | $128,613 |
| 7-8% | 187 | $26,165,000 | $139,920 |
| Over 8% | 113 | $7,275,000 | $64,381 |
| 5-6% | 28 | $3,990,000 | $142,500 |
| <2.5% | 7 | $45,000 | $6,429 |
| 4-5% | 3 | $715,000 | $238,333 |
| 3-4% | 2 | $110,000 | $55,000 |
During 2023, Logansport's most frequently originated rate bucket was 6-7%, with 238 originations.
Loan Sizing (Logansport, IN MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 284 | $15,930,000 | $56,092 |
| $100k-200k | 243 | $34,865,000 | $143,477 |
| $200k-400k | 58 | $15,360,000 | $264,828 |
| $400k-600k | 1 | $455,000 | $455,000 |
| $600k-1000k | 1 | $665,000 | $665,000 |
| $Over $1MM | 1 | $2,245,000 | $2,245,000 |
Logansport's loan sizing saw the bucket of loans from $100,000 or less with 284 originations, totaling $15,930,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 264 | $40,230,000 | $152,386 |
| 60-80% | 127 | $17,745,000 | $139,724 |
| Under 20% | 68 | $1,840,000 | $27,059 |
| 20-40% | 54 | $3,060,000 | $56,667 |
| 40-60% | 52 | $4,100,000 | $78,846 |
| Over 100% | 7 | $1,295,000 | $185,000 |
Logansport's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 264 originations, totaling $40,230,000 in origination value.