Madisonville Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Madisonville averaged
6.86%
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
6.69% and
one month ago for the week of 2024-10-03, the
average rate was 5.99%.
Madisonville's average rate one year ago was 7.73%.
For refis of the same type during the week of 2024-11-07, the average rate
was 6.79%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Madisonville 30 Year Fixed Rate | 2024-11-07 | 6.86% |
| Madisonville 30 Year Fixed Rate Refi | 2024-11-07 | 6.79% |
| Madisonville 15 Year Fixed Rate | 2024-11-07 | 6% |
| Madisonville 15 Year Fixed Rate Refi | 2024-11-07 | 6.6% |
| Madisonville 30 Year FHA | 2024-11-07 | 6.51% |
| Madisonville 30 Year FHA Refi | 2024-11-07 | 6.63% |
| Madisonville 30 Year USDA | 2024-11-07 | 6.28% |
| Madisonville 30 Year USDA Refi | 2024-11-07 | 6.68% |
| Madisonville 30 Year VA | 2024-11-07 | 6.39% |
| Madisonville 30 Year VA Refi | 2024-11-07 | 6.24% |
Madisonville 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 Madisonville, KY 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.).
Madisonville Average Closing Costs & Other Stats
Madisonville, KY's 45 lenders originated 832
loans during 2023. The total origination value was $109,740,000, with an average loan value of
$131,899.
Madisonville's average closing costs are $4,304.
The top Madisonville lender as defined by loan originations is Independence Bank of Kentucky, with
43 loans originated. Their average total fees are
$2,601, which is $2,059
lower than the next largest lender,
FIRST COMMUNITY MORTGAGE, INC..
The lowest fee Madisonville lenders (with over 10 loans originated) are
Independence Bank of Kentucky ($2,601), U.S. Bank ($3,705), FIRST COMMUNITY MORTGAGE, INC. ($4,660), QUICKEN LOANS, LLC ($5,476) and .
The lowest rate Madisonville lenders (with over 10 loans originated) are
FIRST COMMUNITY MORTGAGE, INC. (6.21%), Independence Bank of Kentucky (6.39%), QUICKEN LOANS, LLC (6.77%), U.S. Bank (6.96%) and .
Madisonville, KY 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 |
|---|---|---|---|---|
| Independence Bank of Kentucky | $15,520,000 | $16,035,000 | 3.3% | 14.6% |
| QUICKEN LOANS, LLC | $11,190,000 | $8,460,000 | -24.4% | 7.7% |
| Mortgage Research Center, LLC | $6,195,000 | $6,955,000 | 12.3% | 6.3% |
| U.S. Bank | $5,865,000 | $4,820,000 | -17.8% | 4.4% |
| FIRST COMMUNITY MORTGAGE, INC. | $4,360,000 | $4,665,000 | 7.0% | 4.3% |
| Fifth Third Bank | $7,460,000 | $4,140,000 | -44.5% | 3.8% |
| EVANSVILLE TEACHERS | $2,140,000 | $3,575,000 | 67.1% | 3.3% |
| Farmers Bank and Trust Company | $7,170,000 | $2,845,000 | -60.3% | 2.6% |
| The Sacramento Deposit Bank | $4,075,000 | $2,680,000 | -34.2% | 2.4% |
| RUOFF MORTGAGE COMPANY, INC. | $6,115,000 | $2,340,000 | -61.7% | 2.1% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,840,000 | $2,340,000 | 27.2% | 2.1% |
| First Financial Bank | $1,905,000 | $1,745,000 | -8.4% | 1.6% |
| Old National Bank | $3,370,000 | $1,665,000 | -50.6% | 1.5% |
| TOP FLITE FINANCIAL, INC. | $1,350,000 | $1,505,000 | 11.5% | 1.4% |
| 21ST MORTGAGE CORPORATION | $1,690,000 | $1,395,000 | -17.5% | 1.3% |
| FREEDOM MORTGAGE CORPORATION | $1,395,000 | $1,390,000 | -0.4% | 1.3% |
| PENNYMAC LOAN SERVICES, LLC | $650,000 | $1,325,000 | 103.8% | 1.2% |
| STOCKTON MORTGAGE CORPORATION | $940,000 | $1,300,000 | 38.3% | 1.2% |
| TRIAD FINANCIAL SERVICES, INC. | $1,025,000 | $1,250,000 | 22.0% | 1.1% |
| JPMorgan Chase Bank | $320,000 | $1,240,000 | 287.5% | 1.1% |
| MOVEMENT MORTGAGE, LLC | $1,130,000 | n/a | 1.0% | |
| BROKER SOLUTIONS, INC. | $880,000 | $1,075,000 | 22.2% | 1.0% |
| NFM, INC. | $135,000 | $1,025,000 | 659.3% | 0.9% |
| CROSSCOUNTRY MORTGAGE, LLC | $75,000 | $925,000 | 1,133.3% | 0.8% |
| NAVY FEDERAL CREDIT UNION | $1,625,000 | $905,000 | -44.3% | 0.8% |
| HOMESIDE FINANCIAL, LLC | $2,295,000 | $860,000 | -62.5% | 0.8% |
| Mr. Cooper ( Nationstar Mortgage ) | $355,000 | $755,000 | 112.7% | 0.7% |
| Equity Prime Mortgage LLC | $740,000 | n/a | 0.7% | |
| MORTGAGE MASTERS OF INDIANA, INC. | $1,175,000 | $720,000 | -38.7% | 0.7% |
| GUARANTY HOME MORTGAGE CORPORATION | $4,405,000 | $665,000 | -84.9% | 0.6% |
| Planters Bank, Inc. | $1,085,000 | $660,000 | -39.2% | 0.6% |
| Wells Fargo Bank | $775,000 | $625,000 | -19.4% | 0.6% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,435,000 | $605,000 | -57.8% | 0.6% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $580,000 | n/a | 0.5% | |
| Heritage Federal Credit Union | $300,000 | $560,000 | 86.7% | 0.5% |
| Owensboro Federal Credit Union | $540,000 | n/a | 0.5% | |
| NEW DAY FINANCIAL, LLC | $330,000 | $520,000 | 57.6% | 0.5% |
| GUARANTEED RATE AFFINITY, LLC | $515,000 | n/a | 0.5% | |
| EVERETT FINANCIAL, INC. | $295,000 | $500,000 | 69.5% | 0.5% |
| GERSHMAN INVESTMENT CORP. | $485,000 | n/a | 0.4% | |
| ZILLOW HOME LOANS, LLC | $165,000 | $480,000 | 190.9% | 0.4% |
| FIRST MORTGAGE COMPANY, INC. | $425,000 | n/a | 0.4% | |
| Citizens Bank | $1,840,000 | $420,000 | -77.2% | 0.4% |
| NEWREZ LLC | $580,000 | $420,000 | -27.6% | 0.4% |
| ROYAL UNITED MORTGAGE LLC | $85,000 | $415,000 | 388.2% | 0.4% |
| First Southern National Bank | $200,000 | $375,000 | 87.5% | 0.3% |
| Fortera Federal Credit Union | $15,000 | $370,000 | 2,366.7% | 0.3% |
| RELIANCE FIRST CAPITAL, LLC | $360,000 | n/a | 0.3% | |
| LOANDEPOT.COM, LLC | $800,000 | $345,000 | -56.9% | 0.3% |
| FIELD & MAIN BANK, INC. | $170,000 | $320,000 | 88.2% | 0.3% |
| Discover Bank | $85,000 | $310,000 | 264.7% | 0.3% |
| Farm Credit Mid-America, ACA | $1,130,000 | $310,000 | -72.6% | 0.3% |
| UNION HOME MORTGAGE CORP. | $295,000 | n/a | 0.3% | |
| AMERISAVE MORTGAGE CORPORATION | $1,995,000 | $290,000 | -85.5% | 0.3% |
| FirstBank | $190,000 | $285,000 | 50.0% | 0.3% |
| Bank of England | $425,000 | $280,000 | -34.1% | 0.3% |
| CARDINAL FINANCIAL | $95,000 | $255,000 | 168.4% | 0.2% |
| Pinnacle Bank | $245,000 | n/a | 0.2% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $400,000 | $245,000 | -38.8% | 0.2% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $360,000 | $235,000 | -34.7% | 0.2% |
| United Southern Bank | $420,000 | $230,000 | -45.2% | 0.2% |
| GUARANTEED RATE, INC. | $1,080,000 | $225,000 | -79.2% | 0.2% |
| GENERAL ELECTRIC CREDIT UNION | $175,000 | $220,000 | 25.7% | 0.2% |
| AMERICAN PORTFOLIO MORTGAGE CORPORATION | $205,000 | n/a | 0.2% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $400,000 | $205,000 | -48.8% | 0.2% |
| Signature Federal Credit Union | $205,000 | n/a | 0.2% | |
| SWBC MORTGAGE CORPORATION | $200,000 | n/a | 0.2% | |
| AMERICAN FINANCIAL NETWORK, INC. | $195,000 | n/a | 0.2% | |
| Century Mortgage Company DBA Century Lending Company | $125,000 | $195,000 | 56.0% | 0.2% |
| First Merchants Bank | $195,000 | n/a | 0.2% | |
| PLAZA HOME MORTGAGE, INC. | $195,000 | n/a | 0.2% | |
| THE MORTGAGE FIRM, INC. | $195,000 | n/a | 0.2% | |
| First Federal Savings Bank | $190,000 | n/a | 0.2% | |
| 1ST SIGNATURE LENDING, LLC | $165,000 | $185,000 | 12.1% | 0.2% |
| CHURCHILL MORTGAGE CORPORATION | $360,000 | $185,000 | -48.6% | 0.2% |
| ENDEAVOR CAPITAL, LLC. | $185,000 | n/a | 0.2% | |
| NBKC BANK | $185,000 | n/a | 0.2% | |
| Northpointe Bank | $185,000 | n/a | 0.2% | |
| Plains Commerce Bank | $180,000 | n/a | 0.2% | |
| THRIVE MORTGAGE, LLC | $175,000 | n/a | 0.2% | |
| PLANET HOME LENDING, LLC | $165,000 | n/a | 0.2% | |
| Lakeview Community Capital, LLC | $155,000 | n/a | 0.1% | |
| LIBERTY HOME MORTGAGE CORPORATION | $155,000 | n/a | 0.1% | |
| FirstTrust Home Loans, Inc. | $145,000 | n/a | 0.1% | |
| Honor Credit Union | $115,000 | $145,000 | 26.1% | 0.1% |
| LONGBRIDGE FINANCIAL, LLC | $145,000 | n/a | 0.1% | |
| CRESCENT MORTGAGE COMPANY | $135,000 | n/a | 0.1% | |
| Magnolia Bank | $830,000 | $135,000 | -83.7% | 0.1% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $650,000 | $130,000 | -80.0% | 0.1% |
| ALTRA | $125,000 | n/a | 0.1% | |
| BETTER MORTGAGE CORPORATION | $115,000 | $115,000 | 0.0% | 0.1% |
| Renasant Bank | $95,000 | n/a | 0.1% | |
| AMERICAN FINANCING CORPORATION | $165,000 | $85,000 | -48.5% | 0.1% |
| Truist | $480,000 | $85,000 | -82.3% | 0.1% |
| Abound Federal Credit Union | $75,000 | n/a | 0.1% | |
| COMMONWEALTH | $40,000 | $75,000 | 87.5% | 0.1% |
| CSL Financial, LLC | $105,000 | $75,000 | -28.6% | 0.1% |
| COMMUNITY MORTGAGE CORPORATION | $65,000 | n/a | 0.1% | |
| Prosperity Home Mortgage, LLC | $65,000 | n/a | 0.1% | |
| Truity Federal Credit Union | $65,000 | n/a | 0.1% | |
| UNIVERSITY CREDIT UNION | $65,000 | n/a | 0.1% | |
| SOUTH CENTRAL BANK, INC. | $55,000 | n/a | 0.1% | |
| SPRING EQ, LLC | $105,000 | $55,000 | -47.6% | 0.1% |
| Availa Bank | $45,000 | n/a | 0.0% | |
| Carrington Mortgage Services, LLC | $1,580,000 | $45,000 | -97.2% | 0.0% |
| Deere Employees Credit Union | $65,000 | $45,000 | -30.8% | 0.0% |
Madisonville's top lender by overall market share is Independence Bank of Kentucky, with 14.6% market share. In second place, with 7.7%, is QUICKEN LOANS, LLC, having originated $8,460,000 in loans. In third place, with 6.3%, is Mortgage Research Center, LLC, having originated $6,955,000 in loans. In fourth place, with 4.4%, is U.S. Bank, having originated $4,820,000 in loans. In fifth place, with 4.3%, is FIRST COMMUNITY MORTGAGE, INC., having originated $4,665,000 in loans.
Madisonville, KY Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 469 | $76,015,000 | $162,079 |
| Refi | 120 | $12,540,000 | $104,500 |
| Cash Out Refi | 94 | $11,800,000 | $125,532 |
| Other | 89 | $5,915,000 | $66,461 |
| Home Improvement | 60 | $3,470,000 | $57,833 |
Madisonville's most frequently cited loan purpose was Home Purchase, with 469 originations. The 2nd most popular reason was Refi, with 120 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 265 | $43,345,000 | $163,566 |
| 7-8% | 185 | $23,665,000 | $127,919 |
| Over 8% | 151 | $10,005,000 | $66,258 |
| 5-6% | 79 | $14,275,000 | $180,696 |
| 3-4% | 14 | $160,000 | $11,429 |
| 4-5% | 3 | $895,000 | $298,333 |
| <2.5% | 1 | $5,000 | $5,000 |
During 2023, Madisonville's most frequently originated rate bucket was 6-7%, with 265 originations.
Loan Sizing (Madisonville, KY MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 368 | $19,630,000 | $53,342 |
| $100k-200k | 312 | $46,240,000 | $148,205 |
| $200k-400k | 136 | $36,010,000 | $264,779 |
| $400k-600k | 13 | $5,935,000 | $456,538 |
| $600k-1000k | 3 | $1,925,000 | $641,667 |
Madisonville's loan sizing saw the bucket of loans from $100,000 or less with 368 originations, totaling $19,630,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 300 | $54,560,000 | $181,867 |
| 60-80% | 111 | $17,095,000 | $154,009 |
| 20-40% | 95 | $6,665,000 | $70,158 |
| Under 20% | 76 | $2,500,000 | $32,895 |
| 40-60% | 74 | $8,010,000 | $108,243 |
| Over 100% | 10 | $2,420,000 | $242,000 |
Madisonville's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 300 originations, totaling $54,560,000 in origination value.