Martin Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Martin averaged
6.95%
for the week of 2023-11-22, compared to the national average of
7.29% for the same period.
The average rate for the prior week (2023-11-16) was
7.1% and
one month ago for the week of 2023-10-19, the
average rate was 7.59%.
Martin's average rate one year ago was 6.67%.
For refis of the same type during the week of 2023-11-22, the average rate
was 7.39%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2023-11-22 | 7.29% |
Martin 30 Year Fixed Rate | 2023-11-22 | 6.95% |
Martin 30 Year Fixed Rate Refi | 2023-11-22 | 7.39% |
Martin 15 Year Fixed Rate | 2023-11-22 | 6.77% |
Martin 15 Year Fixed Rate Refi | 2023-11-22 | 6.87% |
Martin 30 Year FHA | 2023-11-22 | 0.1% |
Martin 30 Year FHA Refi | 2023-11-22 | 0.1% |
Martin 30 Year USDA | 2023-11-22 | -0.2% |
Martin 30 Year USDA Refi | 2023-11-22 | 0.2% |
Martin 30 Year VA | 2023-11-22 | 0.2% |
Martin 30 Year VA Refi | 2023-11-22 | 0.1% |
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 50 lenders originated 559
loans during 2022. The total origination value was $91,315,000, with an average loan value of
$163,354.
Martin's average closing costs are $4,134.
The top Martin lender as defined by loan originations is Simmons Bank, with
30 loans originated. Their average total fees are
$4,263, which is $1,222
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Martin lenders (with over 10 loans originated) are
Regions Bank ($2,903), Simmons Bank ($4,263), QUICKEN LOANS, LLC ($5,485), .
The lowest rate Martin lenders (with over 10 loans originated) are
Simmons Bank (4.82%), Regions Bank (5.14%), QUICKEN LOANS, LLC (5.70%), .
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 | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
---|---|---|---|---|
Simmons Bank | $16,985,000 | $20,560,000 | 21.0% | 22.5% |
QUICKEN LOANS, LLC | $8,015,000 | $5,650,000 | -29.5% | 6.2% |
First Citizens National Bank | $6,555,000 | $4,690,000 | -28.5% | 5.1% |
Leaders Credit Union | $5,110,000 | $4,515,000 | -11.6% | 4.9% |
Regions Bank | $7,225,000 | $4,165,000 | -42.4% | 4.6% |
U. T. | $3,085,000 | $4,020,000 | 30.3% | 4.4% |
FIRST COMMUNITY MORTGAGE, INC. | $3,960,000 | $3,155,000 | -20.3% | 3.5% |
Carroll Bank and Trust | $1,190,000 | $2,825,000 | 137.4% | 3.1% |
Mortgage Research Center, LLC | $2,270,000 | $2,790,000 | 22.9% | 3.1% |
Legends Bank | $3,280,000 | $2,630,000 | -19.8% | 2.9% |
BancorpSouth Bank | $1,845,000 | $1,730,000 | -6.2% | 1.9% |
LOANDEPOT.COM, LLC | $655,000 | $1,350,000 | 106.1% | 1.5% |
CRESCENT MORTGAGE COMPANY | $1,195,000 | $1,210,000 | 1.3% | 1.3% |
FirstBank | $1,020,000 | $1,060,000 | 3.9% | 1.2% |
Farm Credit Mid-America, ACA | $1,720,000 | $1,030,000 | -40.1% | 1.1% |
CALIBER HOME LOANS, INC. | $270,000 | $1,015,000 | 275.9% | 1.1% |
Commercial Bank & Trust Co. | $740,000 | $975,000 | 31.8% | 1.1% |
Citizens Bank | $270,000 | $970,000 | 259.3% | 1.1% |
NAVY FEDERAL CREDIT UNION | $1,145,000 | $935,000 | -18.3% | 1.0% |
Mr. Cooper ( Nationstar Mortgage ) | $1,195,000 | $845,000 | -29.3% | 0.9% |
CHURCHILL MORTGAGE CORPORATION | $105,000 | $820,000 | 681.0% | 0.9% |
MORTGAGE INVESTORS GROUP, INC. | $565,000 | $800,000 | 41.6% | 0.9% |
Wells Fargo Bank | $1,020,000 | $795,000 | -22.1% | 0.9% |
AMERISAVE MORTGAGE CORPORATION | $705,000 | $770,000 | 9.2% | 0.8% |
FREEDOM MORTGAGE CORPORATION | $2,330,000 | $755,000 | -67.6% | 0.8% |
First Guaranty Mortgage Corporation | $730,000 | n/a | 0.8% | |
AMERICAN FINANCING CORPORATION | $95,000 | $680,000 | 615.8% | 0.7% |
First Horizon Bank | $260,000 | $680,000 | 161.5% | 0.7% |
Carrington Mortgage Services, LLC | $520,000 | $675,000 | 29.8% | 0.7% |
CityWorth Mortgage LLC | $585,000 | n/a | 0.6% | |
GUARANTY HOME MORTGAGE CORPORATION | $165,000 | $570,000 | 245.5% | 0.6% |
UNITED WHOLESALE MORTGAGE, LLC | $885,000 | $515,000 | -41.8% | 0.6% |
USAA Federal Savings Bank | $490,000 | n/a | 0.5% | |
STOCKTON MORTGAGE CORPORATION | $1,905,000 | $445,000 | -76.6% | 0.5% |
Nations Lending Corporation | $425,000 | n/a | 0.5% | |
First Southern Bank | $415,000 | n/a | 0.5% | |
PENNYMAC LOAN SERVICES, LLC | $1,565,000 | $405,000 | -74.1% | 0.4% |
U.S. Bank | $610,000 | $400,000 | -34.4% | 0.4% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $220,000 | $385,000 | 75.0% | 0.4% |
UNIFY FINANCIAL Credit Union | $365,000 | n/a | 0.4% | |
MID AMERICA MORTGAGE, INC. | $65,000 | $360,000 | 453.8% | 0.4% |
NEW DAY FINANCIAL, LLC | $410,000 | $350,000 | -14.6% | 0.4% |
Bank of Tennessee | $345,000 | n/a | 0.4% | |
BROKER SOLUTIONS, INC. | $795,000 | $320,000 | -59.7% | 0.4% |
EVERETT FINANCIAL, INC. | $305,000 | n/a | 0.3% | |
LEADERONE FINANCIAL CORPORATION | $300,000 | n/a | 0.3% | |
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $520,000 | $285,000 | -45.2% | 0.3% |
Towne Bank | $275,000 | n/a | 0.3% | |
21ST MORTGAGE CORPORATION | $350,000 | $265,000 | -24.3% | 0.3% |
AMERICAN PACIFIC MORTGAGE CORPORATION | $255,000 | n/a | 0.3% | |
Chicago Mortgage Solutions LLC | $265,000 | $255,000 | -3.8% | 0.3% |
AMERICAN FINANCIAL RESOURCES, INC. | $220,000 | $245,000 | 11.4% | 0.3% |
First Southern National Bank | $245,000 | n/a | 0.3% | |
Magnolia Bank | $105,000 | $245,000 | 133.3% | 0.3% |
NBKC BANK | $245,000 | n/a | 0.3% | |
Centennial Bank | $120,000 | $240,000 | 100.0% | 0.3% |
CMG MORTGAGE, INC. | $300,000 | $235,000 | -21.7% | 0.3% |
Equity Prime Mortgage LLC | $215,000 | n/a | 0.2% | |
Hometown Equity Mortgage, LLC | $125,000 | $215,000 | 72.0% | 0.2% |
RANLIFE, INC. | $165,000 | $215,000 | 30.3% | 0.2% |
DIAMOND RESIDENTIAL MORTGAGE CORPORATION | $205,000 | n/a | 0.2% | |
First Internet Bank of Indiana | $205,000 | n/a | 0.2% | |
SOUTHPOINT FINANCIAL SERVICES, INC. | $185,000 | n/a | 0.2% | |
Renasant Bank | $105,000 | $180,000 | 71.4% | 0.2% |
ANGEL OAK MORTGAGE SOLUTIONS LLC | $175,000 | n/a | 0.2% | |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $640,000 | $175,000 | -72.7% | 0.2% |
Independence Bank of Kentucky | $175,000 | n/a | 0.2% | |
M&T Bank | $230,000 | $175,000 | -23.9% | 0.2% |
FNB Bank, Inc. | $155,000 | n/a | 0.2% | |
GUARANTEED RATE, INC. | $135,000 | $155,000 | 14.8% | 0.2% |
TRIAD FINANCIAL SERVICES, INC. | $185,000 | $155,000 | -16.2% | 0.2% |
AmeriHome Mortgage Company, LLC | $145,000 | n/a | 0.2% | |
HOMESIDE FINANCIAL, LLC | $425,000 | $145,000 | -65.9% | 0.2% |
MUTUAL OF OMAHA MORTGAGE, INC. | $145,000 | n/a | 0.2% | |
PNC Bank | $145,000 | n/a | 0.2% | |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $265,000 | $135,000 | -49.1% | 0.1% |
AMERICAN MORTGAGE SERVICE COMPANY | $125,000 | n/a | 0.1% | |
Raymond James Bank | $125,000 | n/a | 0.1% | |
RELIANCE FIRST CAPITAL, LLC | $105,000 | $125,000 | 19.0% | 0.1% |
Pinnacle Bank | $115,000 | n/a | 0.1% | |
BEST CAPITAL FUNDING | $105,000 | n/a | 0.1% | |
COMMUNITY BANK | $105,000 | n/a | 0.1% | |
Deere Employees Credit Union | $65,000 | $105,000 | 61.5% | 0.1% |
Paramount Residential Mortgage Group, Inc. | $105,000 | n/a | 0.1% | |
Victorian Finance, LLC | $95,000 | n/a | 0.1% | |
ALLIANT CREDIT UNION | $85,000 | n/a | 0.1% | |
JPMorgan Chase Bank | $85,000 | $85,000 | 0.0% | 0.1% |
ROYAL UNITED MORTGAGE LLC | $305,000 | $85,000 | -72.1% | 0.1% |
LAND HOME FINANCIAL SERVICES, INC. | $75,000 | n/a | 0.1% | |
L & N Federal Credit Union | $75,000 | n/a | 0.1% | |
NEWREZ LLC | $510,000 | $75,000 | -85.3% | 0.1% |
The Huntington National Bank | $75,000 | n/a | 0.1% | |
First Financial Bank | $65,000 | $70,000 | 7.7% | 0.1% |
LAKEVIEW LOAN SERVICING, LLC | $115,000 | $65,000 | -43.5% | 0.1% |
SHELTER HOME MORTGAGE, LLC | $65,000 | n/a | 0.1% | |
United Community Bank | $65,000 | n/a | 0.1% | |
CREDIT HUMAN FEDERAL CREDIT UNION | $55,000 | n/a | 0.1% | |
Tyndall Federal Credit Union | $35,000 | n/a | 0.0% | |
Home Loan Investment Bank, F.S.B. | $15,000 | n/a | 0.0% |
Martin's top lender by overall market share is Simmons Bank, with 22.5% market share. In second place, with 6.2%, is QUICKEN LOANS, LLC, having originated $5,650,000 in loans. In third place, with 5.1%, is First Citizens National Bank, having originated $4,690,000 in loans. In fourth place, with 4.9%, is Leaders Credit Union, having originated $4,515,000 in loans. In fifth place, with 4.6%, is Regions Bank, having originated $4,165,000 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 |
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 |
Martin's median listing price comes in at 0% of the national average.
Martin's average listing price for 2023-10-01 was $333,027, a difference of $-45,918 (-12.1%) versus the prior year and $16,514 versus the prior month.
For the 2023-10-01 period, Martin had 58 MLS listings, a difference of 14 listings (32%) versus the prior month and 4 listings (7%) 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 |
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 |
Martin's median square footage for active listings during the 2023-10-01 period was 1,996 sqft. One year prior, the average listing was 1,992 sqft.
Martin, TN Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 276 | $51,360,000 | $186,087 |
Cash Out Refi | 110 | $18,450,000 | $167,727 |
Refi | 91 | $10,075,000 | $110,714 |
Home Improvement | 46 | $8,780,000 | $190,870 |
Other | 36 | $2,650,000 | $73,611 |
Martin's most frequently cited loan purpose was Home Purchase, with 276 originations. The 2nd most popular reason was Cash Out Refi, with 110 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
3-4% | 136 | $24,220,000 | $178,088 |
5-6% | 123 | $20,365,000 | $165,569 |
4-5% | 108 | $16,260,000 | $150,556 |
6-7% | 76 | $14,440,000 | $190,000 |
2.5-3% | 33 | $4,505,000 | $136,515 |
7-8% | 22 | $2,570,000 | $116,818 |
Over 8% | 11 | $435,000 | $39,545 |
<2.5% | 3 | $315,000 | $105,000 |
During 2022, Martin's most frequently originated rate bucket was 3-4%, with 136 originations.
Loan Sizing (Martin, TN MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 227 | $31,925,000 | $140,639 |
$100,000 or less | 209 | $12,045,000 | $57,632 |
$200k-400k | 101 | $26,325,000 | $260,644 |
$400k-600k | 12 | $5,530,000 | $460,833 |
$600k-1000k | 7 | $5,575,000 | $796,429 |
$Over $1MM | 3 | $9,915,000 | $3,305,000 |
Martin's loan sizing saw the bucket of loans from $100k-200k with 227 originations, totaling $31,925,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 193 | $37,365,000 | $193,601 |
60-80% | 138 | $30,280,000 | $219,420 |
20-40% | 67 | $4,645,000 | $69,328 |
Under 20% | 51 | $1,765,000 | $34,608 |
40-60% | 50 | $6,260,000 | $125,200 |
Over 100% | 9 | $2,245,000 | $249,444 |
Martin's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 193 originations, totaling $37,365,000 in origination value.