Martin Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Martin averaged
6.64%
for the week of 2023-03-16, compared to the national average of
6.6% for the same period.
The average rate for the prior week (2023-03-09) was
7.17% and
one month ago for the week of 2023-02-09, the
average rate was 6.26%.
Martin's average rate one year ago was 4.09%.
For refis of the same type during the week of 2023-03-16, the average rate
was 6.4%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-03-16 | 6.6% |
Martin 30 Year Fixed Rate | 2023-03-16 | 6.64% |
Martin 30 Year Fixed Rate Refi | 2023-03-16 | 6.4% |
Martin 15 Year Fixed Rate | 2023-03-16 | 6.97% |
Martin 15 Year Fixed Rate Refi | 2023-03-16 | 6.78% |
Martin 30 Year FHA | 2023-03-16 | 6.43% |
Martin 30 Year FHA Refi | 2023-03-16 | 6.27% |
Martin 30 Year USDA | 2023-03-16 | 6.44% |
Martin 30 Year USDA Refi | 2023-03-16 | 6.57% |
Martin 30 Year VA | 2023-03-16 | 6.22% |
Martin 30 Year VA Refi | 2023-03-16 | 6.48% |
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 56 lenders originated 720
loans during 2021. The total origination value was $101,160,000, with an average loan value of
$140,500.
Martin's average closing costs are $3,830.
The top Martin lender as defined by loan originations is Simmons Bank, with
47 loans originated. Their average total fees are
$2,809, which is $1,226
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Martin lenders (with over 10 loans originated) are
Regions Bank ($2,314), Leaders Credit Union ($2,447), Simmons Bank ($2,809), Triumph Bank ($3,254) and QUICKEN LOANS, LLC ($4,035).
The lowest rate Martin lenders (with over 10 loans originated) are
Triumph Bank (3.04%), Simmons Bank (3.13%), Leaders Credit Union (3.27%), QUICKEN LOANS, LLC (3.28%) and Regions Bank (3.38%).
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 | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
---|---|---|---|---|
Simmons Bank | $11,175,000 | $16,985,000 | 52.0% | 16.8% |
QUICKEN LOANS, LLC | $7,805,000 | $8,015,000 | 2.7% | 7.9% |
Regions Bank | $5,095,000 | $7,225,000 | 41.8% | 7.1% |
First Citizens National Bank | $3,280,000 | $6,555,000 | 99.8% | 6.5% |
Leaders Credit Union | $3,650,000 | $5,110,000 | 40.0% | 5.1% |
Triumph Bank | $5,240,000 | $4,860,000 | -7.3% | 4.8% |
FIRST COMMUNITY MORTGAGE, INC. | $2,240,000 | $3,960,000 | 76.8% | 3.9% |
Legends Bank | $3,920,000 | $3,280,000 | -16.3% | 3.2% |
U. T. | $3,335,000 | $3,085,000 | -7.5% | 3.0% |
FREEDOM MORTGAGE CORPORATION | $2,125,000 | $2,330,000 | 9.6% | 2.3% |
Mortgage Research Center, LLC | $1,235,000 | $2,270,000 | 83.8% | 2.2% |
STOCKTON MORTGAGE CORPORATION | $410,000 | $1,905,000 | 364.6% | 1.9% |
BancorpSouth Bank | $1,415,000 | $1,845,000 | 30.4% | 1.8% |
Farm Credit Mid-America, ACA | $590,000 | $1,720,000 | 191.5% | 1.7% |
PENNYMAC LOAN SERVICES, LLC | $1,005,000 | $1,565,000 | 55.7% | 1.5% |
CRESCENT MORTGAGE COMPANY | $1,725,000 | $1,195,000 | -30.7% | 1.2% |
Mr. Cooper ( Nationstar Mortgage ) | $555,000 | $1,195,000 | 115.3% | 1.2% |
Carroll Bank and Trust | $1,300,000 | $1,190,000 | -8.5% | 1.2% |
NAVY FEDERAL CREDIT UNION | $165,000 | $1,145,000 | 593.9% | 1.1% |
FirstBank | $1,560,000 | $1,020,000 | -34.6% | 1.0% |
Wells Fargo Bank | $905,000 | $1,020,000 | 12.7% | 1.0% |
North American Savings Bank, F.S.B. | $940,000 | n/a | 0.9% | |
UNITED WHOLESALE MORTGAGE, LLC | $500,000 | $885,000 | 77.0% | 0.9% |
BROKER SOLUTIONS, INC. | $675,000 | $795,000 | 17.8% | 0.8% |
Commercial Bank & Trust Co. | $785,000 | $740,000 | -5.7% | 0.7% |
AMERISAVE MORTGAGE CORPORATION | $620,000 | $705,000 | 13.7% | 0.7% |
HOMEBRIDGE FINANCIAL SERVICES, INC. | $625,000 | $675,000 | 8.0% | 0.7% |
LOANDEPOT.COM, LLC | $480,000 | $655,000 | 36.5% | 0.6% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $235,000 | $640,000 | 172.3% | 0.6% |
U.S. Bank | $1,065,000 | $610,000 | -42.7% | 0.6% |
First Federal Bank | $410,000 | $605,000 | 47.6% | 0.6% |
MORTGAGE INVESTORS GROUP, INC. | $245,000 | $565,000 | 130.6% | 0.6% |
Flagstar Bank, FSB | $135,000 | $555,000 | 311.1% | 0.5% |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $125,000 | $520,000 | 316.0% | 0.5% |
Carrington Mortgage Services, LLC | $475,000 | $520,000 | 9.5% | 0.5% |
HOME POINT FINANCIAL CORPORATION | $115,000 | $515,000 | 347.8% | 0.5% |
NEWREZ LLC | $370,000 | $510,000 | 37.8% | 0.5% |
Fifth Third Bank | $425,000 | n/a | 0.4% | |
HOMESIDE FINANCIAL, LLC | $425,000 | n/a | 0.4% | |
NEW DAY FINANCIAL, LLC | $290,000 | $410,000 | 41.4% | 0.4% |
Wyndham Capital Mortgage, Inc. | $405,000 | n/a | 0.4% | |
CROSSCOUNTRY MORTGAGE, LLC | $365,000 | n/a | 0.4% | |
GMFS LLC | $355,000 | n/a | 0.4% | |
21ST MORTGAGE CORPORATION | $645,000 | $350,000 | -45.7% | 0.3% |
ROYAL UNITED MORTGAGE LLC | $200,000 | $305,000 | 52.5% | 0.3% |
CMG MORTGAGE, INC. | $580,000 | $300,000 | -48.3% | 0.3% |
River Valley AgCredit, ACA | $285,000 | n/a | 0.3% | |
CALIBER HOME LOANS, INC. | $270,000 | n/a | 0.3% | |
Citizens Bank | $175,000 | $270,000 | 54.3% | 0.3% |
Chicago Mortgage Solutions LLC | $265,000 | n/a | 0.3% | |
HomePromise Corporation | $265,000 | n/a | 0.3% | |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $265,000 | n/a | 0.3% | |
Discover Bank | $260,000 | n/a | 0.3% | |
First Horizon Bank | $110,000 | $260,000 | 136.4% | 0.3% |
The Federal Savings Bank | $255,000 | n/a | 0.3% | |
SUN WEST MORTGAGE COMPANY, INC. | $250,000 | n/a | 0.2% | |
SOUTHWEST FUNDING, LP | $695,000 | $240,000 | -65.5% | 0.2% |
SOUTHWEST STAGE FUNDING, LLC | $240,000 | n/a | 0.2% | |
VILLAGE CAPITAL & INVESTMENT LLC | $350,000 | $240,000 | -31.4% | 0.2% |
MOVEMENT MORTGAGE, LLC | $235,000 | n/a | 0.2% | |
Northpointe Bank | $235,000 | n/a | 0.2% | |
Manufacturers and Traders Trust Company | $230,000 | n/a | 0.2% | |
Truist Bank | $195,000 | $230,000 | 17.9% | 0.2% |
THE MORTGAGE FIRM, INC. | $225,000 | n/a | 0.2% | |
AMERICAN FINANCIAL RESOURCES, INC. | $220,000 | n/a | 0.2% | |
VANDERBILT MORTGAGE AND FINANCE, INC. | $175,000 | $220,000 | 25.7% | 0.2% |
Evolve Bank & Trust | $215,000 | n/a | 0.2% | |
INTERLINC MORTGAGE SERVICES, LLC | $215,000 | n/a | 0.2% | |
SWBC MORTGAGE CORPORATION | $205,000 | n/a | 0.2% | |
CapStar Bank | $200,000 | n/a | 0.2% | |
INTERCAP LENDING INC. | $145,000 | $195,000 | 34.5% | 0.2% |
TRIAD FINANCIAL SERVICES, INC. | $185,000 | n/a | 0.2% | |
Bank of America | $105,000 | $175,000 | 66.7% | 0.2% |
GUARANTY HOME MORTGAGE CORPORATION | $365,000 | $165,000 | -54.8% | 0.2% |
RANLIFE, INC. | $145,000 | $165,000 | 13.8% | 0.2% |
JOHNSONVILLE TVA EMPLOYEES CREDIT UNION | $70,000 | $150,000 | 114.3% | 0.1% |
First United Bank and Trust Company | $145,000 | n/a | 0.1% | |
GUARANTEED RATE, INC. | $135,000 | n/a | 0.1% | |
Hometown Equity Mortgage, LLC | $125,000 | n/a | 0.1% | |
Hometown Lenders, Inc. | $55,000 | $125,000 | 127.3% | 0.1% |
TriStar Bank | $125,000 | n/a | 0.1% | |
Centennial Bank | $280,000 | $120,000 | -57.1% | 0.1% |
LAKEVIEW LOAN SERVICING, LLC | $115,000 | n/a | 0.1% | |
PHH Mortgage Corporation | $115,000 | n/a | 0.1% | |
Southern Bancorp Bank | $115,000 | n/a | 0.1% | |
CHURCHILL MORTGAGE CORPORATION | $1,070,000 | $105,000 | -90.2% | 0.1% |
COMPASS MORTGAGE, INC. | $105,000 | n/a | 0.1% | |
First National Bank of Waterloo | $55,000 | $105,000 | 90.9% | 0.1% |
Magnolia Bank | $105,000 | n/a | 0.1% | |
RELIANCE FIRST CAPITAL, LLC | $105,000 | n/a | 0.1% | |
Renasant Bank | $260,000 | $105,000 | -59.6% | 0.1% |
The Bank of Fayette County | $105,000 | n/a | 0.1% | |
AMERICAN FINANCING CORPORATION | $95,000 | n/a | 0.1% | |
BETTER MORTGAGE CORPORATION | $95,000 | n/a | 0.1% | |
First Federal Bank | $410,000 | $95,000 | -76.8% | 0.1% |
GENEVA FINANCIAL, LLC | $95,000 | n/a | 0.1% | |
Low VA Rates, LLC | $95,000 | n/a | 0.1% | |
PRIMARY RESIDENTIAL MORTGAGE, INC. | $95,000 | n/a | 0.1% | |
Bank of England | $160,000 | $85,000 | -46.9% | 0.1% |
JPMorgan Chase Bank | $85,000 | n/a | 0.1% | |
ENVOY MORTGAGE, LTD | $75,000 | n/a | 0.1% | |
Deere Employees Credit Union | $260,000 | $65,000 | -75.0% | 0.1% |
First Financial Bank | $115,000 | $65,000 | -43.5% | 0.1% |
MID AMERICA MORTGAGE, INC. | $165,000 | $65,000 | -60.6% | 0.1% |
Old Second National Bank | $65,000 | n/a | 0.1% | |
AFFINITY | $45,000 | n/a | 0.0% | |
REDSTONE Federal Credit Union | $45,000 | n/a | 0.0% | |
AMERICAN ADVISORS GROUP | $25,000 | $35,000 | 40.0% | 0.0% |
Figure Lending LLC | $25,000 | n/a | 0.0% |
Martin's top lender by overall market share is Simmons Bank, with 16.8% market share. In second place, with 7.9%, is QUICKEN LOANS, LLC, having originated $8,015,000 in loans. In third place, with 7.1%, is Regions Bank, having originated $7,225,000 in loans. In fourth place, with 6.5%, is First Citizens National Bank, having originated $6,555,000 in loans. In fifth place, with 5.1%, is Leaders Credit Union, having originated $5,110,000 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 (-4.2%) | $139,717 (-0.1%) | 0.00 | 135 |
2018-02-01 | $119,600 (-7.1%) | $137,446 (-3.1%) | 0.00 | 136 |
2018-03-01 | $119,900 (-4.4%) | $138,134 (-1.5%) | 0.00 | 136 |
2018-04-01 | $119,900 (-6.0%) | $135,724 (-4.5%) | 0.00 | 137 |
2018-05-01 | $128,850 (1.2%) | $138,890 (-1.4%) | 0.00 | 132 |
2018-06-01 | $126,900 (-0.1%) | $141,116 (2.8%) | 0.00 | 134 |
2018-07-01 | $128,025 (4.2%) | $143,516 (6.4%) | 0.00 | 131 |
2018-08-01 | $135,925 (8.8%) | $149,135 (6.0%) | 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 |
Martin's median listing price comes in at 0% of the national average.
Martin's average listing price for 2023-02-01 was $232,299, a difference of $-138,575 (-37.4%) versus the prior year and $-5,939 versus the prior month.
For the 2023-02-01 period, Martin had 49 MLS listings, a difference of 1 listings (2%) versus the prior month and 21 listings (75%) 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 | 2,096 sqft |
2021-09-01 | 0 days | 1,996 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 | 2,024 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 |
Martin's median square footage for active listings during the 2023-02-01 period was 1,813 sqft. One year prior, the average listing was 2,024 sqft.
Martin, TN Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 310 | $50,880,000 | $164,129 |
Refi | 256 | $31,610,000 | $123,477 |
Cash Out Refi | 108 | $16,010,000 | $148,241 |
Home Improvement | 26 | $1,280,000 | $49,231 |
Other | 20 | $1,380,000 | $69,000 |
Martin's most frequently cited loan purpose was Home Purchase, with 310 originations. The 2nd most popular reason was Refi, with 256 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
3-4% | 277 | $36,805,000 | $132,870 |
2.5-3% | 232 | $38,100,000 | $164,224 |
<2.5% | 101 | $16,715,000 | $165,495 |
4-5% | 57 | $5,565,000 | $97,632 |
5-6% | 22 | $960,000 | $43,636 |
Over 8% | 6 | $370,000 | $61,667 |
6-7% | 4 | $370,000 | $92,500 |
7-8% | 2 | $100,000 | $50,000 |
During 2021, Martin's most frequently originated rate bucket was 3-4%, with 277 originations.
Loan Sizing (Martin, TN MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 312 | $44,000,000 | $141,026 |
$100,000 or less | 269 | $16,965,000 | $63,067 |
$200k-400k | 124 | $31,570,000 | $254,597 |
$400k-600k | 11 | $5,015,000 | $455,909 |
$600k-1000k | 2 | $1,360,000 | $680,000 |
$Over $1MM | 2 | $2,250,000 | $1,125,000 |
Martin's loan sizing saw the bucket of loans from $100k-200k with 312 originations, totaling $44,000,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 308 | $50,170,000 | $162,890 |
60-80% | 197 | $30,765,000 | $156,168 |
40-60% | 96 | $10,900,000 | $113,542 |
Under 20% | 41 | $1,045,000 | $25,488 |
20-40% | 35 | $1,975,000 | $56,429 |
Over 100% | 4 | $1,350,000 | $337,500 |
Martin's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 308 originations, totaling $50,170,000 in origination value.