Marion Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Marion averaged 6.31% 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 6.21% and one month ago for the week of 2024-09-05, the average rate was 6.64%.

Marion's average rate one year ago was 7.68%.

For refis of the same type during the week of 2024-10-10, the average rate was 6.22%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-10-10 6.32%
Marion 30 Year Fixed Rate 2024-10-10 6.31%
Marion 30 Year Fixed Rate Refi 2024-10-10 6.22%
Marion 15 Year Fixed Rate 2024-10-10 5.51%
Marion 15 Year Fixed Rate Refi 2024-10-10 5.71%
Marion 30 Year FHA 2024-10-10 6.17%
Marion 30 Year FHA Refi 2024-10-10 6.2%
Marion 30 Year USDA 2024-10-10 6.08%
Marion 30 Year USDA Refi 2024-10-10 6.28%
Marion 30 Year VA 2024-10-10 5.75%
Marion 30 Year VA Refi 2024-10-10 5.85%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Marion, IN.

Marion 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 Marion, 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.).

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
RUOFF MORTGAGE COMPANY, INC. 79 6.90% $2,538
UNION HOME MORTGAGE CORP. 34 7.26% $4,021
Regions Bank 26 7.22% $3,157
First Farmers Bank and Trust Company 20 7.23% $2,340
STAR Financial Bank 16 6.66% $2,487
QUICKEN LOANS, LLC 14 6.64% $6,390
Nations Lending Corporation 11 7.42% $2,490
MOVEMENT MORTGAGE, LLC 10 6.63% $5,337
Northwest Bank 8 6.30% $1,907
BEACON CREDIT UNION 7 6.66% $2,070
ROYAL UNITED MORTGAGE LLC 6 7.17% $5,425
STOCKTON MORTGAGE CORPORATION 6 7.00% $4,239
JPMorgan Chase Bank 5 6.83% $3,645
First Merchants Bank 5 6.98% $2,454
Mortgage Research Center, LLC 4 6.97% $2,260
GVC MORTGAGE, INC. 4 7.12% $3,762
INDIANA MEMBERS CREDIT UNION 4 6.16% $2,267
Horizon Bank 4 7.13% $2,037
CALIBER HOME LOANS, INC. 4 6.75% $2,997
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 7.06% $2,872
Fifth Third Bank 4 7.25% $3,344
NEWREZ LLC 3 6.54% $3,117
Wells Fargo Bank 3 6.83% $4,020
FORUM Credit Union 3 6.58% $2,167
ZILLOW HOME LOANS, LLC 2 7.63% $3,423
BROKER SOLUTIONS, INC. 2 6.06% $5,748
Crossroads Bank 2 6.75% $1,252
Farm Credit Mid-America, ACA 2 7.63% $6,216
First Federal Savings Bank 2 6.50% $2,081
GENEVA FINANCIAL, LLC 2 7.31% $3,227
LOANDEPOT.COM, LLC 2 6.63% $6,894
MEMBER FIRST MORTGAGE, LLC 2 7.50% $3,353
NAVY FEDERAL CREDIT UNION 2 7.94% $1,340
NBKC BANK 2 8.00% $2,839
PNC Bank 2 6.31% $3,184
ProFed Federal Credit Union 2 5.50% $2,477
TEACHERS CREDIT UNION 2 7.31% $2,358
The Huntington National Bank 2 6.19% $2,773
Three Rivers Federal Credit Union 2 7.56% $2,653
THRIVE MORTGAGE, LLC 2 6.63% $2,859
UNITED WHOLESALE MORTGAGE, LLC 2 7.63% $3,097
AMERISAVE MORTGAGE CORPORATION 1 7.99% $5,795
The State Bank and Trust Company 1 6.25% $2,741
ENDEAVOR CAPITAL, LLC. 1 5.88% $4,034
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.99% $5,158
PANORAMA MORTGAGE GROUP, LLC 1 7.25% $13,734
PARTNERS 1ST Federal Credit Union 1 6.38% $2,399
PENNYMAC LOAN SERVICES, LLC 1 6.38% $2,686
PHH Mortgage Corporation 1 6.88% $11,271
PLAZA HOME MORTGAGE, INC. 1 6.63% $2,336
AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $3,187
PREMIA MORTGAGE, LLC 1 6.99% $150
American Mortgage & Equity Consultants, Inc. 1 7.88% $14,021
PROVIDENT FUNDING ASSOCIATES, L.P. 1 6.88% $4,368
CROSSCOUNTRY MORTGAGE, LLC 1 6.38% $3,438
Citizens State Bank of New Castle 1 7.50% $2,522
CITIZENS EQUITY FIRST 1 6.13% $1,835
Citizens Bank 1 8.00% $1,565
Solidarity Community Federal Credit Union 1 6.88% $1,812
CHURCHILL MORTGAGE CORPORATION 1 8.13% $2,940
HALLMARK HOME MORTGAGE, LLC 1 7.13% $4,461
GUARANTEED RATE, INC. 1 6.88% $3,259
KeyBank 1 6.25% $2,526
Beeline Loans, Inc. 1 7.50% $3,709
TUCKER MORTGAGE, LLC 1 6.63% $4,062
MJW Financial LLC 1 6.63% $3,687
MORTGAGE 1 INCORPORATED 1 7.38% $2,515
FLAT BRANCH MORTGAGE, INC. 1 6.38% $2,586
First United Bank and Trust Company 1 7.25% $3,071
Mr. Cooper ( Nationstar Mortgage ) 1 6.99% $7,131
First Financial Bank 1 6.88% $2,920

Marion Average Closing Costs & Other Stats

Marion, IN's 71 lenders originated 1,011 loans during 2023. The total origination value was $132,635,000, with an average loan value of $131,192.

Marion's average closing costs are $3,797.

The top Marion lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 79 loans originated. Their average total fees are $2,538, which is $1,483 lower than the next largest lender, UNION HOME MORTGAGE CORP..

The lowest fee Marion lenders (with over 10 loans originated) are First Farmers Bank and Trust Company ($2,340), STAR Financial Bank ($2,487), Nations Lending Corporation ($2,490), RUOFF MORTGAGE COMPANY, INC. ($2,538) and Regions Bank ($3,157).

The lowest rate Marion lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC (6.63%), QUICKEN LOANS, LLC (6.64%), STAR Financial Bank (6.66%), RUOFF MORTGAGE COMPANY, INC. (6.90%) and Regions Bank (7.22%).

Marion, 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
RUOFF MORTGAGE COMPANY, INC. $22,240,000 $19,755,000 -11.2% 14.9%
Regions Bank $8,495,000 $10,950,000 28.9% 8.3%
UNION HOME MORTGAGE CORP. $2,100,000 $9,440,000 349.5% 7.1%
STAR Financial Bank $7,845,000 $6,850,000 -12.7% 5.2%
First Farmers Bank and Trust Company $11,050,000 $6,710,000 -39.3% 5.1%
QUICKEN LOANS, LLC $9,015,000 $5,415,000 -39.9% 4.1%
VANDERBILT MORTGAGE AND FINANCE, INC. $4,620,000 n/a 3.5%
Mortgage Research Center, LLC $4,925,000 $4,345,000 -11.8% 3.3%
Prudential Huntoon Paige Associates, LLC $3,835,000 n/a 2.9%
Northwest Bank $3,585,000 $3,560,000 -0.7% 2.7%
MOVEMENT MORTGAGE, LLC $600,000 $2,860,000 376.7% 2.2%
Nations Lending Corporation $8,625,000 $2,780,000 -67.8% 2.1%
Greenfield Banking Company $2,405,000 n/a 1.8%
GVC MORTGAGE, INC. $1,700,000 $2,065,000 21.5% 1.6%
BEACON CREDIT UNION $1,710,000 $1,785,000 4.4% 1.3%
NAVY FEDERAL CREDIT UNION $1,175,000 $1,760,000 49.8% 1.3%
INDIANA MEMBERS CREDIT UNION $1,260,000 $1,685,000 33.7% 1.3%
TRIAD FINANCIAL SERVICES, INC. $785,000 $1,590,000 102.5% 1.2%
Horizon Bank $1,550,000 $1,260,000 -18.7% 0.9%
First Merchants Bank $495,000 $1,210,000 144.4% 0.9%
JPMorgan Chase Bank $930,000 $1,190,000 28.0% 0.9%
Three Rivers Federal Credit Union $1,280,000 $1,155,000 -9.8% 0.9%
LOANDEPOT.COM, LLC $1,820,000 $1,050,000 -42.3% 0.8%
CALIBER HOME LOANS, INC. $7,185,000 $1,030,000 -85.7% 0.8%
STOCKTON MORTGAGE CORPORATION $145,000 $965,000 565.5% 0.7%
NEW DAY FINANCIAL, LLC $450,000 $950,000 111.1% 0.7%
ROYAL UNITED MORTGAGE LLC $625,000 $945,000 51.2% 0.7%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $790,000 $940,000 19.0% 0.7%
FREEDOM MORTGAGE CORPORATION $1,055,000 $905,000 -14.2% 0.7%
American Mortgage & Equity Consultants, Inc. $875,000 n/a 0.7%
HALLMARK HOME MORTGAGE, LLC $960,000 $795,000 -17.2% 0.6%
First Financial Bank $775,000 n/a 0.6%
NEWREZ LLC $990,000 $775,000 -21.7% 0.6%
BROKER SOLUTIONS, INC. $450,000 $695,000 54.4% 0.5%
AMERISAVE MORTGAGE CORPORATION $490,000 $685,000 39.8% 0.5%
MEMBER FIRST MORTGAGE, LLC $455,000 $680,000 49.5% 0.5%
Crossroads Bank $770,000 $650,000 -15.6% 0.5%
CITIZENS EQUITY FIRST $575,000 n/a 0.4%
DIAMOND RESIDENTIAL MORTGAGE CORPORATION $570,000 n/a 0.4%
Fifth Third Bank $445,000 $525,000 18.0% 0.4%
Farm Credit Mid-America, ACA $840,000 $520,000 -38.1% 0.4%
The Huntington National Bank $665,000 $495,000 -25.6% 0.4%
NATIONWIDE MORTGAGE BANKERS, INC. $490,000 n/a 0.4%
UNITED WHOLESALE MORTGAGE, LLC $475,000 $480,000 1.1% 0.4%
Old National Bank $145,000 $465,000 220.7% 0.4%
PANORAMA MORTGAGE GROUP, LLC $455,000 n/a 0.3%
GUARANTEED RATE, INC. $2,525,000 $430,000 -83.0% 0.3%
FORUM Credit Union $260,000 $410,000 57.7% 0.3%
The State Bank and Trust Company $215,000 $395,000 83.7% 0.3%
Citizens Bank $385,000 n/a 0.3%
ProFed Federal Credit Union $155,000 $385,000 148.4% 0.3%
PENNYMAC LOAN SERVICES, LLC $1,520,000 $375,000 -75.3% 0.3%
THRIVE MORTGAGE, LLC $95,000 $375,000 294.7% 0.3%
PLAZA HOME MORTGAGE, INC. $260,000 $370,000 42.3% 0.3%
Mr. Cooper ( Nationstar Mortgage ) $540,000 $365,000 -32.4% 0.3%
Wells Fargo Bank $375,000 $355,000 -5.3% 0.3%
AMERICAN FINANCIAL NETWORK, INC. $350,000 n/a 0.3%
TEACHERS CREDIT UNION $610,000 $350,000 -42.6% 0.3%
MORTGAGE SOLUTIONS OF COLORADO, LLC $145,000 $330,000 127.6% 0.2%
NBKC BANK $330,000 n/a 0.2%
INDIANA UNIVERSITY CREDIT UNION $325,000 n/a 0.2%
MUTUAL OF OMAHA MORTGAGE, INC. $595,000 $325,000 -45.4% 0.2%
CROSSCOUNTRY MORTGAGE, LLC $450,000 $315,000 -30.0% 0.2%
PNC Bank $785,000 $315,000 -59.9% 0.2%
V.I.P. MORTGAGE, INC. $315,000 n/a 0.2%
First Federal Savings Bank $6,130,000 $310,000 -94.9% 0.2%
GENEVA FINANCIAL, LLC $320,000 $310,000 -3.1% 0.2%
MIDWEST AMERICA $305,000 n/a 0.2%
Community First Bank of Indiana $260,000 $300,000 15.4% 0.2%
ENDEAVOR CAPITAL, LLC. $300,000 n/a 0.2%
AMERICAN FINANCING CORPORATION $95,000 $285,000 200.0% 0.2%
PHH Mortgage Corporation $75,000 $285,000 280.0% 0.2%
1ST SIGNATURE LENDING, LLC $135,000 $280,000 107.4% 0.2%
Northpointe Bank $260,000 $280,000 7.7% 0.2%
Lake City Bank $75,000 $270,000 260.0% 0.2%
Blue Ridge Bank $95,000 $260,000 173.7% 0.2%
TUCKER MORTGAGE, LLC $260,000 n/a 0.2%
BMO Harris Bank $60,000 $255,000 325.0% 0.2%
CHURCHILL MORTGAGE CORPORATION $305,000 $255,000 -16.4% 0.2%
First Bank of Berne $95,000 $235,000 147.4% 0.2%
Flagstar Bank, FSB $1,020,000 $235,000 -77.0% 0.2%
SPRING EQ, LLC $235,000 n/a 0.2%
TOP FLITE FINANCIAL, INC. $230,000 n/a 0.2%
U.S. Bank $180,000 $225,000 25.0% 0.2%
PARTNERS 1ST Federal Credit Union $290,000 $215,000 -25.9% 0.2%
SUN WEST MORTGAGE COMPANY, INC. $205,000 n/a 0.2%
MJW Financial LLC $1,135,000 $195,000 -82.8% 0.1%
Prosperity Home Mortgage, LLC $185,000 $195,000 5.4% 0.1%
PREMIA MORTGAGE, LLC $185,000 n/a 0.1%
FLAT BRANCH MORTGAGE, INC. $825,000 $180,000 -78.2% 0.1%
CARDINAL FINANCIAL $155,000 $175,000 12.9% 0.1%
LENOX FINANCIAL MORTGAGE CORPORATION $175,000 n/a 0.1%
Pinnacle Bank $175,000 n/a 0.1%
VELOCITY COMMERCIAL CAPITAL, LLC $170,000 n/a 0.1%
Barrington Bank & Trust Company, N.A. $700,000 $165,000 -76.4% 0.1%
ZILLOW HOME LOANS, LLC $235,000 $150,000 -36.2% 0.1%
LEADERONE FINANCIAL CORPORATION $135,000 $145,000 7.4% 0.1%
PRIMARY RESIDENTIAL MORTGAGE, INC. $255,000 $140,000 -45.1% 0.1%
Solidarity Community Federal Credit Union $165,000 $140,000 -15.2% 0.1%
FINANCIAL BUILDERS Federal Credit Union $210,000 $135,000 -35.7% 0.1%
AMCAP MORTGAGE, LTD. $115,000 n/a 0.1%
First Financial Bank $115,000 n/a 0.1%
First United Bank and Trust Company $115,000 n/a 0.1%
LOANPAL, LLC $115,000 n/a 0.1%
First Federal Savings Bank $6,130,000 $110,000 -98.2% 0.1%
MICHIGAN MUTUAL, INC. $135,000 $105,000 -22.2% 0.1%
MORTGAGE 1 INCORPORATED $105,000 n/a 0.1%
EMBRACE HOME LOANS, INC. $95,000 n/a 0.1%
PROVIDENT FUNDING ASSOCIATES, L.P. $95,000 n/a 0.1%
21ST MORTGAGE CORPORATION $135,000 $90,000 -33.3% 0.1%
Carrington Mortgage Services, LLC $890,000 $85,000 -90.4% 0.1%
CIVIC FINANCIAL SERVICES, LLC $75,000 $85,000 13.3% 0.1%
Hometown Equity Mortgage, LLC $85,000 n/a 0.1%
Park Lane Finance Solutions, LLC $85,000 n/a 0.1%
AMERICAN HERITAGE LENDING, INC. $75,000 n/a 0.1%
KeyBank $340,000 $75,000 -77.9% 0.1%
Plains Commerce Bank $75,000 n/a 0.1%
Citizens State Bank of New Castle $290,000 $65,000 -77.6% 0.0%
Beeline Loans, Inc. $55,000 n/a 0.0%
Elements Financial Federal Credit Union $270,000 $55,000 -79.6% 0.0%
Merchants Bank of Indiana $15,840,000 $55,000 -99.7% 0.0%
Figure Lending LLC $165,000 $50,000 -69.7% 0.0%
The North Salem State Bank $45,000 n/a 0.0%
Thrive FCU $45,000 n/a 0.0%
Madison County Federal Credit Union $165,000 $25,000 -84.8% 0.0%

Marion's top lender by overall market share is RUOFF MORTGAGE COMPANY, INC., with 14.9% market share. In second place, with 8.3%, is Regions Bank, having originated $10,950,000 in loans. In third place, with 7.1%, is UNION HOME MORTGAGE CORP., having originated $9,440,000 in loans. In fourth place, with 5.2%, is STAR Financial Bank, having originated $6,850,000 in loans. In fifth place, with 5.1%, is First Farmers Bank and Trust Company, having originated $6,710,000 in loans.

Marion, IN Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 609 $100,125,000 $164,409
Cash Out Refi 160 $14,880,000 $93,000
Home Improvement 131 $7,515,000 $57,366
Refi 57 $6,345,000 $111,316
Other 54 $3,770,000 $69,815

Marion's most frequently cited loan purpose was Home Purchase, with 609 originations. The 2nd most popular reason was Cash Out Refi, with 160 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
7-8% 359 $41,225,000 $114,833
6-7% 340 $49,000,000 $144,118
Over 8% 165 $15,375,000 $93,182
5-6% 108 $24,080,000 $222,963
3-4% 17 $1,165,000 $68,529
4-5% 7 $975,000 $139,286
<2.5% 4 $80,000 $20,000
2.5-3% 3 $435,000 $145,000

During 2023, Marion's most frequently originated rate bucket was 7-8%, with 359 originations.

Loan Sizing (Marion, IN MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 519 $29,025,000 $55,925
$100k-200k 352 $48,760,000 $138,523
$200k-400k 126 $32,980,000 $261,746
$400k-600k 9 $4,185,000 $465,000
$Over $1MM 5 $17,685,000 $3,537,000

Marion's loan sizing saw the bucket of loans from $100,000 or less with 519 originations, totaling $29,025,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 475 $78,525,000 $165,316
60-80% 179 $29,675,000 $165,782
20-40% 136 $7,770,000 $57,132
Under 20% 93 $2,945,000 $31,667
40-60% 75 $10,695,000 $142,600
Over 100% 8 $1,420,000 $177,500

Marion's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 475 originations, totaling $78,525,000 in origination value.