Martin Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Martin averaged
6.2%
for the week of 2024-10-03, compared to the national average of
6.12% for the same period.
The average rate for the prior week (2024-09-26) was
6.46% and
one month ago for the week of 2024-08-29, the
average rate was 6.33%.
Martin's average rate one year ago was 7.59%.
For refis of the same type during the week of 2024-10-03, the average rate
was 6.02%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-03 | 6.12% |
Martin 30 Year Fixed Rate | 2024-10-03 | 6.2% |
Martin 30 Year Fixed Rate Refi | 2024-10-03 | 6.02% |
Martin 15 Year Fixed Rate | 2024-10-03 | 5.15% |
Martin 15 Year Fixed Rate Refi | 2024-10-03 | 5.25% |
Martin 30 Year FHA | 2024-10-03 | 5.89% |
Martin 30 Year FHA Refi | 2024-10-03 | 5.99% |
Martin 30 Year USDA | 2024-10-03 | 5.87% |
Martin 30 Year USDA Refi | 2024-10-03 | 5.97% |
Martin 30 Year VA | 2024-10-03 | 5.7% |
Martin 30 Year VA Refi | 2024-10-03 | 5.4% |
Martin 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 Martin, TN 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.).
Martin Average Closing Costs & Other Stats
Martin, TN's 36 lenders originated 442
loans during 2023. The total origination value was $65,600,000, with an average loan value of
$148,416.
Martin's average closing costs are $4,353.
The top Martin lender as defined by loan originations is Regions Bank, with
14 loans originated. Their average total fees are
$4,361, which is $1,050
higher than the next largest lender,
Leaders Credit Union.
The lowest fee Martin lenders (with over 10 loans originated) are
Leaders Credit Union ($3,311), Regions Bank ($4,361), .
The lowest rate Martin lenders (with over 10 loans originated) are
Regions Bank (6.68%), Leaders Credit Union (6.96%), .
Martin, TN 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 |
---|---|---|---|---|
First Citizens National Bank | $4,690,000 | $6,305,000 | 34.4% | 9.6% |
Simmons Bank | $20,560,000 | $6,035,000 | -70.6% | 9.2% |
Leaders Credit Union | $4,515,000 | $4,240,000 | -6.1% | 6.5% |
Regions Bank | $4,165,000 | $4,130,000 | -0.8% | 6.3% |
QUICKEN LOANS, LLC | $5,650,000 | $3,095,000 | -45.2% | 4.7% |
Mortgage Research Center, LLC | $2,790,000 | $2,910,000 | 4.3% | 4.4% |
U. T. | $4,020,000 | $2,770,000 | -31.1% | 4.2% |
UNITED WHOLESALE MORTGAGE, LLC | $515,000 | $2,395,000 | 365.0% | 3.7% |
Farm Credit Mid-America, ACA | $1,030,000 | $2,290,000 | 122.3% | 3.5% |
FIRST COMMUNITY MORTGAGE, INC. | $3,155,000 | $2,235,000 | -29.2% | 3.4% |
Carroll Bank and Trust | $2,825,000 | $2,205,000 | -21.9% | 3.4% |
Legends Bank | $2,630,000 | $1,835,000 | -30.2% | 2.8% |
21ST MORTGAGE CORPORATION | $265,000 | $925,000 | 249.1% | 1.4% |
LOANDEPOT.COM, LLC | $1,350,000 | $910,000 | -32.6% | 1.4% |
MORTGAGE INVESTORS GROUP, INC. | $800,000 | $780,000 | -2.5% | 1.2% |
Commercial Bank & Trust Co. | $975,000 | $765,000 | -21.5% | 1.2% |
BancorpSouth | $1,730,000 | $640,000 | -63.0% | 1.0% |
CROSSCOUNTRY MORTGAGE, LLC | $630,000 | n/a | 1.0% | |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $175,000 | $560,000 | 220.0% | 0.9% |
PLANET HOME LENDING, LLC | $540,000 | n/a | 0.8% | |
FirstBank | $1,060,000 | $520,000 | -50.9% | 0.8% |
PENNYMAC LOAN SERVICES, LLC | $405,000 | $490,000 | 21.0% | 0.7% |
VAN DYK MORTGAGE CORPORATION | $490,000 | n/a | 0.7% | |
TOWNE MORTGAGE COMPANY | $480,000 | n/a | 0.7% | |
FREEDOM MORTGAGE CORPORATION | $755,000 | $475,000 | -37.1% | 0.7% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $385,000 | $395,000 | 2.6% | 0.6% |
USAA Federal Savings Bank | $490,000 | $385,000 | -21.4% | 0.6% |
NAVY FEDERAL CREDIT UNION | $935,000 | $380,000 | -59.4% | 0.6% |
Equity Prime Mortgage LLC | $215,000 | $355,000 | 65.1% | 0.5% |
First Horizon Bank | $680,000 | $355,000 | -47.8% | 0.5% |
AMERICAN FINANCIAL NETWORK, INC. | $350,000 | n/a | 0.5% | |
AMERISAVE MORTGAGE CORPORATION | $770,000 | $315,000 | -59.1% | 0.5% |
CMG MORTGAGE, INC. | $235,000 | $305,000 | 29.8% | 0.5% |
LEADERONE FINANCIAL CORPORATION | $300,000 | $305,000 | 1.7% | 0.5% |
PRIMARY RESIDENTIAL MORTGAGE, INC. | $295,000 | n/a | 0.4% | |
Centennial Bank | $240,000 | $275,000 | 14.6% | 0.4% |
STOCKTON MORTGAGE CORPORATION | $445,000 | $275,000 | -38.2% | 0.4% |
Bank of England | $255,000 | n/a | 0.4% | |
NEW DAY FINANCIAL, LLC | $350,000 | $255,000 | -27.1% | 0.4% |
ALLIED MORTGAGE GROUP, INC. | $245,000 | n/a | 0.4% | |
NBKC BANK | $245,000 | $225,000 | -8.2% | 0.3% |
HOMEXPRESS MORTGAGE CORP. | $215,000 | n/a | 0.3% | |
Mr. Cooper ( Nationstar Mortgage ) | $845,000 | $215,000 | -74.6% | 0.3% |
The Federal Savings Bank | $215,000 | n/a | 0.3% | |
THE PEOPLES BANK | $205,000 | n/a | 0.3% | |
U.S. Bank | $400,000 | $205,000 | -48.8% | 0.3% |
EVERETT FINANCIAL, INC. | $305,000 | $195,000 | -36.1% | 0.3% |
MID AMERICA MORTGAGE, INC. | $360,000 | $195,000 | -45.8% | 0.3% |
RELIANCE FIRST CAPITAL, LLC | $125,000 | $195,000 | 56.0% | 0.3% |
ROYAL UNITED MORTGAGE LLC | $85,000 | $195,000 | 129.4% | 0.3% |
AMERICAN FINANCING CORPORATION | $680,000 | $185,000 | -72.8% | 0.3% |
McKenzie Banking Company | $185,000 | n/a | 0.3% | |
United Community Bank | $65,000 | $185,000 | 184.6% | 0.3% |
BROKER SOLUTIONS, INC. | $320,000 | $175,000 | -45.3% | 0.3% |
F&M Bank | $175,000 | n/a | 0.3% | |
SOUTHWEST STAGE FUNDING, LLC | $175,000 | n/a | 0.3% | |
PHH Mortgage Corporation | $170,000 | n/a | 0.3% | |
SWBC MORTGAGE CORPORATION | $170,000 | n/a | 0.3% | |
First Savings Bank | $165,000 | n/a | 0.3% | |
Central Bank Illinois | $155,000 | n/a | 0.2% | |
CRESCENT MORTGAGE COMPANY | $1,210,000 | $155,000 | -87.2% | 0.2% |
MORTGAGE FINANCIAL GROUP, INC. | $155,000 | n/a | 0.2% | |
Deere Employees Credit Union | $105,000 | $145,000 | 38.1% | 0.2% |
LIBERTY HOME MORTGAGE CORPORATION | $145,000 | n/a | 0.2% | |
Figure Lending LLC | $135,000 | n/a | 0.2% | |
Nations Lending Corporation | $425,000 | $135,000 | -68.2% | 0.2% |
Paramount Residential Mortgage Group, Inc. | $105,000 | $135,000 | 28.6% | 0.2% |
FARMERS INSURANCE GROUP FEDERAL CREDIT UNION | $125,000 | n/a | 0.2% | |
First Financial Bank | $70,000 | $110,000 | 57.1% | 0.2% |
TOP FLITE FINANCIAL, INC. | $105,000 | n/a | 0.2% | |
NEWREZ LLC | $75,000 | $95,000 | 26.7% | 0.1% |
Citizens Bank | $970,000 | $85,000 | -91.2% | 0.1% |
Discover Bank | $85,000 | n/a | 0.1% | |
HOMEBRIDGE FINANCIAL SERVICES, INC. | $85,000 | n/a | 0.1% | |
Barrington Bank & Trust Company, N.A. | $75,000 | n/a | 0.1% | |
Wells Fargo Bank | $795,000 | $75,000 | -90.6% | 0.1% |
Bank of America | $65,000 | n/a | 0.1% | |
LONGBRIDGE FINANCIAL, LLC | $65,000 | n/a | 0.1% | |
Apex Bank | $55,000 | n/a | 0.1% | |
FINANCE OF AMERICA REVERSE LLC | $55,000 | n/a | 0.1% | |
First Southern Bank | $415,000 | $55,000 | -86.7% | 0.1% |
Coastal Community Bank | $15,000 | n/a | 0.0% |
Martin's top lender by overall market share is First Citizens National Bank, with 9.6% market share. In second place, with 9.2%, is Simmons Bank, having originated $6,035,000 in loans. In third place, with 6.5%, is Leaders Credit Union, having originated $4,240,000 in loans. In fourth place, with 6.3%, is Regions Bank, having originated $4,130,000 in loans. In fifth place, with 4.7%, is QUICKEN LOANS, LLC, having originated $3,095,000 in loans.
Martin Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Martin (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $121,000 (-3.6%) | $139,717 (0.8%) | 0.00 | 135 |
2018-02-01 | $119,600 (-6.9%) | $137,446 (-2.3%) | 0.00 | 136 |
2018-03-01 | $119,900 (-4.3%) | $138,134 (-0.7%) | 0.00 | 136 |
2018-04-01 | $119,900 (-5.4%) | $135,724 (-3.7%) | 0.00 | 137 |
2018-05-01 | $128,850 (1.3%) | $138,890 (-0.7%) | 0.00 | 132 |
2018-06-01 | $126,900 (0.2%) | $141,116 (3.5%) | 0.00 | 134 |
2018-07-01 | $128,025 (5.5%) | $143,516 (7.2%) | 0.00 | 131 |
2018-08-01 | $135,925 (8.8%) | $149,135 (6.8%) | 0.00 | 125 |
2018-09-01 | $139,500 (12.1%) | $156,894 (11.0%) | 0.00 | 120 |
2018-10-01 | $138,000 (15.2%) | $154,453 (11.7%) | 0.00 | 112 |
2018-11-01 | $139,925 (17.0%) | $156,642 (15.7%) | 0.00 | 111 |
2018-12-01 | $139,900 (24.9%) | $158,480 (19.3%) | 0.00 | 103 |
2019-01-01 | $137,450 (13.6%) | $161,006 (15.2%) | 0.00 | 100 |
2019-02-01 | $134,995 (12.9%) | $158,739 (15.5%) | 0.00 | 103 |
2019-03-01 | $139,583 (16.4%) | $163,382 (18.3%) | 0.00 | 91 |
2019-04-01 | $139,785 (16.6%) | $167,088 (23.1%) | 0.00 | 77 |
2019-05-01 | $145,850 (13.2%) | $171,128 (23.2%) | 0.00 | 74 |
2019-06-01 | $139,500 (9.9%) | $160,259 (13.6%) | 0.00 | 77 |
2019-07-01 | $143,375 (12.0%) | $166,028 (15.7%) | 0.00 | 71 |
2019-08-01 | $149,364 (9.9%) | $167,088 (12.0%) | 0.00 | 66 |
2019-09-01 | $152,534 (9.3%) | $167,628 (6.8%) | 0.00 | 67 |
2019-10-01 | $152,148 (10.3%) | $166,801 (8.0%) | 0.00 | 67 |
2019-11-01 | $151,250 (8.1%) | $165,011 (5.3%) | 0.00 | 69 |
2019-12-01 | $129,950 (-7.1%) | $163,603 (3.2%) | 0.00 | 70 |
2020-01-01 | $128,450 (-6.6%) | $152,075 (-5.6%) | 0.00 | 69 |
2020-02-01 | $124,450 (-7.8%) | $147,023 (-7.4%) | 0.00 | 64 |
2020-03-01 | $128,225 (-8.1%) | $156,636 (-4.1%) | 0.00 | 66 |
2020-04-01 | $119,900 (-14.2%) | $161,817 (-3.2%) | 0.00 | 67 |
2020-05-01 | $134,900 (-7.5%) | $178,616 (4.4%) | 0.00 | 53 |
2020-06-01 | $157,400 (12.8%) | $199,034 (24.2%) | 0.00 | 49 |
2020-07-01 | $139,900 (-2.4%) | $195,049 (17.5%) | 0.00 | 46 |
2020-08-01 | $129,999 (-13.0%) | $191,011 (14.3%) | 0.00 | 48 |
2020-09-01 | $122,500 (-19.7%) | $199,376 (18.9%) | 0.00 | 52 |
2020-10-01 | $129,900 (-14.6%) | $217,455 (30.4%) | 0.00 | 51 |
2020-11-01 | $134,200 (-11.3%) | $219,357 (32.9%) | 0.00 | 45 |
2020-12-01 | $139,450 (7.3%) | $251,323 (53.6%) | 0.00 | 34 |
2021-01-01 | $199,000 (54.9%) | $292,773 (92.5%) | 0.00 | 24 |
2021-02-01 | $209,450 (68.3%) | $326,668 (122.2%) | 0.00 | 18 |
2021-03-01 | $254,600 (98.6%) | $333,160 (112.7%) | 0.00 | 16 |
2021-04-01 | $259,700 (116.6%) | $314,111 (94.1%) | 0.00 | 19 |
2021-05-01 | $249,900 (85.3%) | $304,528 (70.5%) | 0.00 | 24 |
2021-06-01 | $225,750 (43.4%) | $326,448 (64.0%) | 0.00 | 22 |
2021-07-01 | $250,000 (78.7%) | $326,904 (67.6%) | 0.00 | 24 |
2021-08-01 | $225,000 (73.1%) | $293,517 (53.7%) | 0.00 | 37 |
2021-09-01 | $225,000 (83.7%) | $282,864 (41.9%) | 0.00 | 50 |
2021-10-01 | $227,500 (75.1%) | $288,264 (32.6%) | 0.00 | 45 |
2021-11-01 | $243,750 (81.6%) | $308,720 (40.7%) | 0.00 | 39 |
2021-12-01 | $222,500 (59.6%) | $267,556 (6.5%) | 0.00 | 35 |
2022-01-01 | $199,000 (0.0%) | $245,629 (-16.1%) | 0.00 | 30 |
2022-02-01 | $229,900 (9.8%) | $370,874 (13.5%) | 0.00 | 28 |
2022-03-01 | $225,000 (-11.6%) | $347,143 (4.2%) | 0.00 | 33 |
2022-04-01 | $257,400 (-0.9%) | $450,344 (43.4%) | 0.00 | 29 |
2022-05-01 | $267,000 (6.8%) | $427,567 (40.4%) | 0.00 | 32 |
2022-06-01 | $289,950 (28.4%) | $430,720 (31.9%) | 0.00 | 39 |
2022-07-01 | $299,450 (19.8%) | $416,836 (27.5%) | 0.00 | 40 |
2022-08-01 | $272,175 (21.0%) | $390,942 (33.2%) | 0.00 | 42 |
2022-09-01 | $219,625 (-2.4%) | $407,136 (43.9%) | 0.00 | 46 |
2022-10-01 | $209,950 (-7.7%) | $378,945 (31.5%) | 0.00 | 54 |
2022-11-01 | $234,725 (-3.7%) | $368,742 (19.4%) | 0.00 | 52 |
2022-12-01 | $240,000 (7.9%) | $358,104 (33.8%) | 0.00 | 50 |
2023-01-01 | $233,425 (17.3%) | $238,238 (-3.0%) | 0.00 | 48 |
2023-02-01 | $204,900 (-10.9%) | $232,299 (-37.4%) | 0.00 | 49 |
2023-03-01 | $212,450 (-5.6%) | $244,178 (-29.7%) | 0.00 | 48 |
2023-04-01 | $215,000 (-16.5%) | $253,595 (-43.7%) | 0.00 | 56 |
2023-05-01 | $220,950 (-17.3%) | $262,996 (-38.5%) | 0.00 | 51 |
2023-06-01 | $250,975 (-13.4%) | $329,651 (-23.5%) | 0.00 | 45 |
2023-07-01 | $249,900 (-16.6%) | $325,012 (-22.0%) | 0.00 | 44 |
2023-08-01 | $268,975 (-1.2%) | $328,238 (-16.0%) | 0.00 | 39 |
2023-09-01 | $268,500 (22.3%) | $316,513 (-22.3%) | 0.00 | 44 |
2023-10-01 | $268,625 (28.0%) | $333,027 (-12.1%) | 0.00 | 58 |
2023-11-01 | $269,100 (14.6%) | $332,738 (-9.8%) | 0.00 | 64 |
2023-12-01 | $252,000 (5.0%) | $316,695 (-11.6%) | 0.00 | 62 |
2024-01-01 | $266,975 (14.4%) | $347,495 (45.9%) | 0.00 | 50 |
2024-02-01 | $262,200 (28.0%) | $336,832 (45.0%) | 0.00 | 50 |
2024-03-01 | $254,950 (20.0%) | $331,827 (35.9%) | 0.00 | 56 |
2024-04-01 | $249,750 (16.2%) | $338,838 (33.6%) | 0.00 | 59 |
2024-05-01 | $249,925 (13.1%) | $340,003 (29.3%) | 0.00 | 62 |
2024-06-01 | $239,900 (-4.4%) | $331,047 (0.4%) | 0.00 | 70 |
2024-07-01 | $253,675 (1.5%) | $336,353 (3.5%) | 0.00 | 80 |
2024-08-01 | $275,000 (2.2%) | $342,645 (4.4%) | 0.00 | 83 |
2024-09-01 | $250,000 (-6.9%) | $329,399 (4.1%) | 0.00 | 84 |
Martin's median listing price comes in at 0% of the national average.
Martin's average listing price for 2024-09-01 was $329,399, a difference of $12,886 (4.1%) versus the prior year and $-13,246 versus the prior month.
For the 2024-09-01 period, Martin had 84 MLS listings, a difference of 1 listings (1%) versus the prior month and 40 listings (91%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Martin (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,819 sqft |
2018-02-01 | 0 days | 1,823 sqft |
2018-03-01 | 0 days | 1,806 sqft |
2018-04-01 | 0 days | 1,805 sqft |
2018-05-01 | 0 days | 1,847 sqft |
2018-06-01 | 0 days | 1,857 sqft |
2018-07-01 | 0 days | 1,813 sqft |
2018-08-01 | 0 days | 1,814 sqft |
2018-09-01 | 0 days | 1,831 sqft |
2018-10-01 | 0 days | 1,808 sqft |
2018-11-01 | 0 days | 1,740 sqft |
2018-12-01 | 0 days | 1,791 sqft |
2019-01-01 | 0 days | 1,758 sqft |
2019-02-01 | 0 days | 1,699 sqft |
2019-03-01 | 0 days | 1,753 sqft |
2019-04-01 | 0 days | 1,745 sqft |
2019-05-01 | 0 days | 1,836 sqft |
2019-06-01 | 0 days | 1,797 sqft |
2019-07-01 | 0 days | 1,891 sqft |
2019-08-01 | 0 days | 1,875 sqft |
2019-09-01 | 0 days | 1,862 sqft |
2019-10-01 | 0 days | 1,840 sqft |
2019-11-01 | 0 days | 1,689 sqft |
2019-12-01 | 0 days | 1,788 sqft |
2020-01-01 | 0 days | 1,734 sqft |
2020-02-01 | 0 days | 1,644 sqft |
2020-03-01 | 0 days | 1,649 sqft |
2020-04-01 | 0 days | 1,644 sqft |
2020-05-01 | 0 days | 1,650 sqft |
2020-06-01 | 0 days | 1,658 sqft |
2020-07-01 | 0 days | 1,617 sqft |
2020-08-01 | 0 days | 1,636 sqft |
2020-09-01 | 0 days | 1,638 sqft |
2020-10-01 | 0 days | 1,643 sqft |
2020-11-01 | 0 days | 1,712 sqft |
2020-12-01 | 0 days | 1,655 sqft |
2021-01-01 | 0 days | 2,013 sqft |
2021-02-01 | 0 days | 1,787 sqft |
2021-03-01 | 0 days | 1,619 sqft |
2021-04-01 | 0 days | 2,189 sqft |
2021-05-01 | 0 days | 2,127 sqft |
2021-06-01 | 0 days | 2,128 sqft |
2021-07-01 | 0 days | 2,146 sqft |
2021-08-01 | 0 days | 2,108 sqft |
2021-09-01 | 0 days | 2,034 sqft |
2021-10-01 | 0 days | 2,067 sqft |
2021-11-01 | 0 days | 2,076 sqft |
2021-12-01 | 0 days | 2,072 sqft |
2022-01-01 | 0 days | 2,063 sqft |
2022-02-01 | 0 days | 2,034 sqft |
2022-03-01 | 0 days | 2,055 sqft |
2022-04-01 | 0 days | 2,014 sqft |
2022-05-01 | 0 days | 2,000 sqft |
2022-06-01 | 0 days | 2,050 sqft |
2022-07-01 | 0 days | 2,070 sqft |
2022-08-01 | 0 days | 2,056 sqft |
2022-09-01 | 0 days | 2,136 sqft |
2022-10-01 | 0 days | 1,992 sqft |
2022-11-01 | 0 days | 1,934 sqft |
2022-12-01 | 0 days | 1,833 sqft |
2023-01-01 | 0 days | 1,854 sqft |
2023-02-01 | 0 days | 1,813 sqft |
2023-03-01 | 0 days | 1,861 sqft |
2023-04-01 | 0 days | 1,749 sqft |
2023-05-01 | 0 days | 1,766 sqft |
2023-06-01 | 0 days | 2,098 sqft |
2023-07-01 | 0 days | 2,095 sqft |
2023-08-01 | 0 days | 2,095 sqft |
2023-09-01 | 0 days | 2,000 sqft |
2023-10-01 | 0 days | 1,996 sqft |
2023-11-01 | 0 days | 1,914 sqft |
2023-12-01 | 0 days | 1,868 sqft |
2024-01-01 | 0 days | 1,873 sqft |
2024-02-01 | 0 days | 1,864 sqft |
2024-03-01 | 0 days | 1,933 sqft |
2024-04-01 | 0 days | 1,875 sqft |
2024-05-01 | 0 days | 1,906 sqft |
2024-06-01 | 0 days | 1,870 sqft |
2024-07-01 | 0 days | 1,919 sqft |
2024-08-01 | 0 days | 1,902 sqft |
2024-09-01 | 0 days | 1,838 sqft |
Martin's median square footage for active listings during the 2024-09-01 period was 1,838 sqft. One year prior, the average listing was 2,000 sqft.
Martin, TN Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 228 | $43,730,000 | $191,798 |
Refi | 69 | $8,975,000 | $130,072 |
Home Improvement | 59 | $3,165,000 | $53,644 |
Cash Out Refi | 55 | $8,095,000 | $147,182 |
Other | 31 | $1,635,000 | $52,742 |
Martin's most frequently cited loan purpose was Home Purchase, with 228 originations. The 2nd most popular reason was Refi, with 69 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 113 | $18,175,000 | $160,841 |
Over 8% | 113 | $10,365,000 | $91,726 |
7-8% | 86 | $19,360,000 | $225,116 |
5-6% | 48 | $6,910,000 | $143,958 |
4-5% | 5 | $1,255,000 | $251,000 |
<2.5% | 2 | $10,000 | $5,000 |
During 2023, Martin's most frequently originated rate bucket was 6-7%, with 113 originations.
Loan Sizing (Martin, TN MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 188 | $10,270,000 | $54,628 |
$100k-200k | 159 | $23,245,000 | $146,195 |
$200k-400k | 86 | $22,390,000 | $260,349 |
$Over $1MM | 5 | $7,765,000 | $1,553,000 |
$400k-600k | 4 | $1,930,000 | $482,500 |
Martin's loan sizing saw the bucket of loans from $100,000 or less with 188 originations, totaling $10,270,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 149 | $29,945,000 | $200,973 |
60-80% | 69 | $15,485,000 | $224,420 |
20-40% | 61 | $4,025,000 | $65,984 |
Under 20% | 49 | $1,485,000 | $30,306 |
40-60% | 37 | $4,535,000 | $122,568 |
Over 100% | 2 | $570,000 | $285,000 |
Martin's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 149 originations, totaling $29,945,000 in origination value.