Marion Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Marion averaged
6.83%
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
6.76% and
one month ago for the week of 2024-10-03, the
average rate was 6.36%.
Marion's average rate one year ago was 7.8%.
For refis of the same type during the week of 2024-11-07, the average rate
was 6.99%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Marion 30 Year Fixed Rate | 2024-11-07 | 6.83% |
| Marion 30 Year Fixed Rate Refi | 2024-11-07 | 6.99% |
| Marion 15 Year Fixed Rate | 2024-11-07 | 6% |
| Marion 15 Year Fixed Rate Refi | 2024-11-07 | 6.5% |
| Marion 30 Year FHA | 2024-11-07 | 6.56% |
| Marion 30 Year FHA Refi | 2024-11-07 | 6.33% |
| Marion 30 Year USDA | 2024-11-07 | 6.48% |
| Marion 30 Year USDA Refi | 2024-11-07 | 6.48% |
| Marion 30 Year VA | 2024-11-07 | 6.34% |
| Marion 30 Year VA Refi | 2024-11-07 | 6.44% |
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, OH 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.).
Marion Average Closing Costs & Other Stats
Marion, OH's 74 lenders originated 1,159
loans during 2023. The total origination value was $159,425,000, with an average loan value of
$137,554.
Marion's average closing costs are $4,373.
The top Marion lender as defined by loan originations is UNION HOME MORTGAGE CORP., with
53 loans originated. Their average total fees are
$4,616, which is $1,417
higher than the next largest lender,
First Federal Bank of the Midwest.
The lowest fee Marion lenders (with over 10 loans originated) are
UNITED ($3,072), First Federal Bank of the Midwest ($3,200), RUOFF MORTGAGE COMPANY, INC. ($3,259), JPMorgan Chase Bank ($3,712) and The Huntington National Bank ($4,497).
The lowest rate Marion lenders (with over 10 loans originated) are
First Federal Bank of the Midwest (6.83%), QUICKEN LOANS, LLC (6.90%), JPMorgan Chase Bank (7.00%), RUOFF MORTGAGE COMPANY, INC. (7.01%) and UNITED (7.06%).
Marion, OH 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 |
|---|---|---|---|---|
| UNION HOME MORTGAGE CORP. | $27,745,000 | $18,545,000 | -33.2% | 11.6% |
| QUICKEN LOANS, LLC | $13,075,000 | $11,940,000 | -8.7% | 7.5% |
| The Huntington National Bank | $11,310,000 | $10,035,000 | -11.3% | 6.3% |
| First Federal Bank of the Midwest | $18,940,000 | $9,880,000 | -47.8% | 6.2% |
| UNITED | $9,280,000 | $7,470,000 | -19.5% | 4.7% |
| The Park National Bank | $3,010,000 | $6,045,000 | 100.8% | 3.8% |
| NFM, INC. | $3,490,000 | $5,085,000 | 45.7% | 3.2% |
| CROSSCOUNTRY MORTGAGE, LLC | $895,000 | $4,690,000 | 424.0% | 2.9% |
| AG Credit, Agricultural Credit Association | $890,000 | $3,200,000 | 259.6% | 2.0% |
| Fifth Third Bank | $3,150,000 | $3,100,000 | -1.6% | 1.9% |
| First Citizens National Bank | $2,955,000 | n/a | 1.9% | |
| JPMorgan Chase Bank | $4,985,000 | $2,845,000 | -42.9% | 1.8% |
| PNC Bank | $4,965,000 | $2,830,000 | -43.0% | 1.8% |
| RUOFF MORTGAGE COMPANY, INC. | $2,560,000 | $2,820,000 | 10.2% | 1.8% |
| Union Savings Bank | $625,000 | $2,770,000 | 343.2% | 1.7% |
| CNB Bank | $2,595,000 | $2,765,000 | 6.6% | 1.7% |
| UNITED WHOLESALE MORTGAGE, LLC | $6,015,000 | $2,535,000 | -57.9% | 1.6% |
| Mortgage Research Center, LLC | $2,125,000 | $2,225,000 | 4.7% | 1.4% |
| The Union Bank Company | $5,525,000 | $2,085,000 | -62.3% | 1.3% |
| PENNYMAC LOAN SERVICES, LLC | $2,135,000 | $1,940,000 | -9.1% | 1.2% |
| THE EQUITABLE MORTGAGE CORPORATION | $460,000 | $1,690,000 | 267.4% | 1.1% |
| FIRST OHIO HOME FINANCE, INC. | $295,000 | $1,560,000 | 428.8% | 1.0% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $840,000 | $1,540,000 | 83.3% | 1.0% |
| NEWREZ LLC | $680,000 | $1,380,000 | 102.9% | 0.9% |
| The Federal Savings Bank | $715,000 | $1,310,000 | 83.2% | 0.8% |
| T2 FINANCIAL LLC | $2,065,000 | $1,290,000 | -37.5% | 0.8% |
| FIRST COMMUNITY MORTGAGE, INC. | $275,000 | $1,225,000 | 345.5% | 0.8% |
| Superior Credit Union, Inc. | $215,000 | $1,115,000 | 418.6% | 0.7% |
| EQUITY RESOURCES, INC. | $2,675,000 | $1,110,000 | -58.5% | 0.7% |
| The Richwood Banking Company | $10,895,000 | $1,105,000 | -89.9% | 0.7% |
| Carrington Mortgage Services, LLC | $780,000 | $1,095,000 | 40.4% | 0.7% |
| GUARANTEED RATE, INC. | $685,000 | $1,075,000 | 56.9% | 0.7% |
| First Commonwealth Bank | $460,000 | $1,040,000 | 126.1% | 0.7% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $640,000 | $1,035,000 | 61.7% | 0.6% |
| FREEDOM MORTGAGE CORPORATION | $2,340,000 | $970,000 | -58.5% | 0.6% |
| GUARANTEED RATE AFFINITY, LLC | $950,000 | $935,000 | -1.6% | 0.6% |
| HOMESIDE FINANCIAL, LLC | $1,915,000 | $835,000 | -56.4% | 0.5% |
| Civista Bank | $375,000 | $830,000 | 121.3% | 0.5% |
| NAVY FEDERAL CREDIT UNION | $405,000 | $815,000 | 101.2% | 0.5% |
| Flagstar Bank, FSB | $1,155,000 | $700,000 | -39.4% | 0.4% |
| U.S. Bank | $745,000 | $700,000 | -6.0% | 0.4% |
| LOANDEPOT.COM, LLC | $2,720,000 | $685,000 | -74.8% | 0.4% |
| RAPID MORTGAGE COMPANY | $1,190,000 | $680,000 | -42.9% | 0.4% |
| KEMBA FINANCIAL | $270,000 | $665,000 | 146.3% | 0.4% |
| DAS Acquisition Company, LLC | $225,000 | $620,000 | 175.6% | 0.4% |
| HONDA Federal Credit Union | $2,010,000 | $620,000 | -69.2% | 0.4% |
| The State Bank and Trust Company | $115,000 | $620,000 | 439.1% | 0.4% |
| MID AMERICA MORTGAGE, INC. | $250,000 | $565,000 | 126.0% | 0.4% |
| Third Federal Savings and Loan Association of Cleveland | $1,335,000 | $565,000 | -57.7% | 0.4% |
| BROKER SOLUTIONS, INC. | $1,355,000 | $560,000 | -58.7% | 0.4% |
| Mr. Cooper ( Nationstar Mortgage ) | $1,960,000 | $560,000 | -71.4% | 0.4% |
| Barrington Bank & Trust Company, N.A. | $420,000 | $550,000 | 31.0% | 0.3% |
| First Bank Richmond | $545,000 | n/a | 0.3% | |
| Pathways Financial Credit Union, Inc. | $95,000 | $505,000 | 431.6% | 0.3% |
| Heartland Bank | $230,000 | $500,000 | 117.4% | 0.3% |
| Discover Bank | $265,000 | $490,000 | 84.9% | 0.3% |
| WRIGHT-PATT CREDIT UNION, INC. | $870,000 | $490,000 | -43.7% | 0.3% |
| PENTAGON FEDERAL CREDIT UNION | $475,000 | n/a | 0.3% | |
| EVERETT FINANCIAL, INC. | $460,000 | $470,000 | 2.2% | 0.3% |
| Fidelity Federal Savings and Loan Association | $450,000 | n/a | 0.3% | |
| CHURCHILL MORTGAGE CORPORATION | $445,000 | n/a | 0.3% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $320,000 | $435,000 | 35.9% | 0.3% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $430,000 | n/a | 0.3% | |
| AmeriHome Mortgage Company, LLC | $425,000 | n/a | 0.3% | |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $425,000 | n/a | 0.3% | |
| THRIVE MORTGAGE, LLC | $425,000 | n/a | 0.3% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $25,000 | $425,000 | 1,600.0% | 0.3% |
| LENDINGHOME FUNDING CORPORATION | $95,000 | $410,000 | 331.6% | 0.3% |
| Figure Lending LLC | $290,000 | $405,000 | 39.7% | 0.3% |
| PLANET HOME LENDING, LLC | $500,000 | $400,000 | -20.0% | 0.3% |
| ROYAL UNITED MORTGAGE LLC | $710,000 | $400,000 | -43.7% | 0.3% |
| First Merchants Bank | $395,000 | n/a | 0.2% | |
| LIBERTY HOME MORTGAGE CORPORATION | $75,000 | $395,000 | 426.7% | 0.2% |
| Coastal Community Bank | $390,000 | n/a | 0.2% | |
| RELIANCE FIRST CAPITAL, LLC | $175,000 | $390,000 | 122.9% | 0.2% |
| ENDEAVOR CAPITAL, LLC. | $370,000 | n/a | 0.2% | |
| GUILD MORTGAGE COMPANY | $275,000 | $370,000 | 34.5% | 0.2% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $2,965,000 | $370,000 | -87.5% | 0.2% |
| First Federal Community Bank of Bucyrus | $810,000 | $365,000 | -54.9% | 0.2% |
| KeyBank | $380,000 | $365,000 | -3.9% | 0.2% |
| LIMA ONE CAPITAL, LLC | $360,000 | n/a | 0.2% | |
| TRIAD FINANCIAL SERVICES, INC. | $135,000 | $340,000 | 151.9% | 0.2% |
| HALLMARK HOME MORTGAGE, LLC | $210,000 | $335,000 | 59.5% | 0.2% |
| SUN WEST MORTGAGE COMPANY, INC. | $325,000 | n/a | 0.2% | |
| POLARIS HOME FUNDING CORP. | $355,000 | $320,000 | -9.9% | 0.2% |
| BAYSHORE MORTGAGE FUNDING, LLC | $315,000 | n/a | 0.2% | |
| Wells Fargo Bank | $1,105,000 | $310,000 | -71.9% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $1,455,000 | $305,000 | -79.0% | 0.2% |
| Pinnacle Bank | $305,000 | n/a | 0.2% | |
| Citizens Bank | $775,000 | $300,000 | -61.3% | 0.2% |
| VERITAS FUNDING, LLC | $225,000 | $285,000 | 26.7% | 0.2% |
| GENEVA FINANCIAL, LLC | $465,000 | $275,000 | -40.9% | 0.2% |
| 1ST SIGNATURE LENDING, LLC | $295,000 | $270,000 | -8.5% | 0.2% |
| NTFN, INC. | $750,000 | $265,000 | -64.7% | 0.2% |
| ZILLOW HOME LOANS, LLC | $255,000 | n/a | 0.2% | |
| GSF Mortgage Corporation | $645,000 | $250,000 | -61.2% | 0.2% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $250,000 | n/a | 0.2% | |
| M&T Bank | $250,000 | n/a | 0.2% | |
| Gateway First Bank | $240,000 | n/a | 0.2% | |
| Neighborhood Loans, Inc. | $395,000 | $235,000 | -40.5% | 0.1% |
| NEW DAY FINANCIAL, LLC | $1,000,000 | $235,000 | -76.5% | 0.1% |
| EMM LOANS LLC | $225,000 | n/a | 0.1% | |
| Kingston National Bank | $205,000 | n/a | 0.1% | |
| The Middlefield Banking Company | $205,000 | n/a | 0.1% | |
| CARDINAL FINANCIAL | $360,000 | $195,000 | -45.8% | 0.1% |
| First Financial Bank | $185,000 | n/a | 0.1% | |
| Paramount Residential Mortgage Group, Inc. | $105,000 | $175,000 | 66.7% | 0.1% |
| Bank of England | $125,000 | $165,000 | 32.0% | 0.1% |
| Prosperity Home Mortgage, LLC | $165,000 | n/a | 0.1% | |
| BMI Federal Credit Union | $65,000 | $155,000 | 138.5% | 0.1% |
| CLEARPATH LENDING | $245,000 | $155,000 | -36.7% | 0.1% |
| HOWARD HANNA FINANCIAL SERVICES, INC. | $155,000 | n/a | 0.1% | |
| NBKC BANK | $315,000 | $155,000 | -50.8% | 0.1% |
| Truist | $75,000 | $145,000 | 93.3% | 0.1% |
| SPRING EQ, LLC | $160,000 | $140,000 | -12.5% | 0.1% |
| Cache Valley Bank | $135,000 | n/a | 0.1% | |
| Cf Bank | $125,000 | n/a | 0.1% | |
| CONTOUR MORTGAGE CORPORATION | $125,000 | n/a | 0.1% | |
| CORNERSTONE COMMUNITY FINANCIAL | $125,000 | n/a | 0.1% | |
| MICHIGAN MUTUAL, INC. | $125,000 | n/a | 0.1% | |
| SUN Federal Credit Union | $125,000 | n/a | 0.1% | |
| First National Bank of Pennsylvania | $115,000 | n/a | 0.1% | |
| 21ST MORTGAGE CORPORATION | $470,000 | $100,000 | -78.7% | 0.1% |
| Byron Bank | $95,000 | n/a | 0.1% | |
| TOP FLITE FINANCIAL, INC. | $220,000 | $95,000 | -56.8% | 0.1% |
| AMERICAN FINANCIAL RESOURCES, INC. | $85,000 | n/a | 0.1% | |
| East Coast Capital Corp. | $265,000 | $85,000 | -67.9% | 0.1% |
| GENERAL ELECTRIC CREDIT UNION | $85,000 | n/a | 0.1% | |
| LOANPAL, LLC | $55,000 | $75,000 | 36.4% | 0.0% |
| FINANCE OF AMERICA REVERSE LLC | $65,000 | n/a | 0.0% | |
| USAA Federal Savings Bank | $225,000 | $65,000 | -71.1% | 0.0% |
| VELOCITY COMMERCIAL CAPITAL, LLC | $85,000 | $65,000 | -23.5% | 0.0% |
| First American Bank | $55,000 | n/a | 0.0% | |
| TELHIO | $375,000 | $55,000 | -85.3% | 0.0% |
| AMERICAN FINANCING CORPORATION | $545,000 | $45,000 | -91.7% | 0.0% |
Marion's top lender by overall market share is UNION HOME MORTGAGE CORP., with 11.6% market share. In second place, with 7.5%, is QUICKEN LOANS, LLC, having originated $11,940,000 in loans. In third place, with 6.3%, is The Huntington National Bank, having originated $10,035,000 in loans. In fourth place, with 6.2%, is First Federal Bank of the Midwest, having originated $9,880,000 in loans. In fifth place, with 4.7%, is UNITED, having originated $7,470,000 in loans.
Marion, OH Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 656 | $107,290,000 | $163,552 |
| Cash Out Refi | 181 | $23,575,000 | $130,249 |
| Home Improvement | 133 | $8,175,000 | $61,466 |
| Other | 98 | $7,180,000 | $73,265 |
| Refi | 91 | $13,205,000 | $145,110 |
Marion's most frequently cited loan purpose was Home Purchase, with 656 originations. The 2nd most popular reason was Cash Out Refi, with 181 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 366 | $60,750,000 | $165,984 |
| 7-8% | 362 | $49,970,000 | $138,039 |
| Over 8% | 261 | $21,675,000 | $83,046 |
| 5-6% | 120 | $21,940,000 | $182,833 |
| <2.5% | 8 | $130,000 | $16,250 |
| 4-5% | 5 | $635,000 | $127,000 |
| 2.5-3% | 5 | $405,000 | $81,000 |
| 3-4% | 3 | $215,000 | $71,667 |
During 2023, Marion's most frequently originated rate bucket was 6-7%, with 366 originations.
Loan Sizing (Marion, OH MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 473 | $25,975,000 | $54,915 |
| $100k-200k | 470 | $66,510,000 | $141,511 |
| $200k-400k | 195 | $52,355,000 | $268,487 |
| $400k-600k | 14 | $6,840,000 | $488,571 |
| $600k-1000k | 4 | $3,220,000 | $805,000 |
| $Over $1MM | 3 | $4,525,000 | $1,508,333 |
Marion's loan sizing saw the bucket of loans from $100,000 or less with 473 originations, totaling $25,975,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 521 | $91,785,000 | $176,171 |
| 60-80% | 220 | $33,450,000 | $152,045 |
| Under 20% | 147 | $4,405,000 | $29,966 |
| 20-40% | 128 | $8,700,000 | $67,969 |
| 40-60% | 97 | $13,755,000 | $141,804 |
| Over 100% | 12 | $2,250,000 | $187,500 |
Marion's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 521 originations, totaling $91,785,000 in origination value.