Martinsville Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Martinsville averaged 6.89% for the week of 2025-06-26, compared to the national average of 6.77% for the same period.

    The average rate for the prior week (2025-06-18) was 6.83% and one month ago for the week of 2025-05-22, the average rate was 7.28%.

    Martinsville's average rate one year ago was 6.99%.

    For refis of the same type during the week of 2025-06-26, the average rate was 7.37%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-06-26 6.77%
    Martinsville 30 Year Fixed Rate 2025-06-26 6.89%
    Martinsville 30 Year Fixed Rate Refi 2025-06-26 7.37%
    Martinsville 15 Year Fixed Rate 2025-06-26 5.79%
    Martinsville 15 Year Fixed Rate Refi 2025-06-26 6.39%
    Martinsville 30 Year FHA 2025-06-26 6.65%
    Martinsville 30 Year FHA Refi 2025-06-26 6.69%
    Martinsville 30 Year USDA 2025-06-26 6.74%
    Martinsville 30 Year USDA Refi 2025-06-26 6.26%
    Martinsville 30 Year VA 2025-06-26 6.44%
    Martinsville 30 Year VA Refi 2025-06-26 6.54%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Martinsville, VA.

    Martinsville 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 Martinsville, VA 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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 41 6.91% $4,727
    Alcova Mortgage LLC 26 7.03% $3,583
    Blue Ridge Bank 19 6.59% $6,028
    Atlantic Union Bank 12 6.67% $3,825
    The Fidelity Bank 10 6.54% $3,334
    Atlantic Coast Mortgage, LLC 9 6.53% $5,069
    UNITED WHOLESALE MORTGAGE, LLC 8 6.56% $7,023
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 6 6.97% $5,538
    ValleyStar Credit Union 5 7.15% $3,010
    Wells Fargo Bank 5 7.20% $4,936
    VANDERBILT MORTGAGE AND FINANCE, INC. 5 7.95% $5,984
    Truist 5 6.83% $4,556
    STATE EMPLOYEES' 5 6.71% $2,800
    First Horizon Bank 5 6.35% $3,851
    MOVEMENT MORTGAGE, LLC 4 6.80% $4,786
    JPMorgan Chase Bank 4 6.81% $4,512
    GUARANTEED RATE, INC. 3 6.78% $4,748
    BROKER SOLUTIONS, INC. 3 7.54% $9,211
    UNION HOME MORTGAGE CORP. 3 7.50% $4,408
    FIRST BANCORP 3 7.29% $3,903
    ZILLOW HOME LOANS, LLC 2 6.81% $4,031
    CAPITAL CENTER, L.L.C. 2 7.06% $125
    First National Bank of Pennsylvania 2 6.75% $4,283
    Flagstar Bank, FSB 2 7.42% $3,445
    FREEDOM FIRST 2 6.13% $3,628
    HOMESIDE FINANCIAL, LLC 2 6.38% $4,044
    Mortgage Research Center, LLC 2 6.63% $5,727
    NAVY FEDERAL CREDIT UNION 2 6.81% $2,216
    NEWREZ LLC 2 8.12% $4,599
    Renasant Bank 2 7.18% $4,160
    ROYAL UNITED MORTGAGE LLC 2 6.75% $6,322
    Truliant Federal Credit Union 2 7.19% $2,981
    First National Bank of America 1 10.24% $6,291
    Mr. Cooper ( Nationstar Mortgage ) 1 6.99% $5,351
    CARDINAL FINANCIAL 1 5.88% $6,014
    V.I.P. MORTGAGE, INC. 1 6.63% $4,080
    PENNYMAC LOAN SERVICES, LLC 1 7.12% $7,532
    PENTAGON FEDERAL CREDIT UNION 1 6.13% $3,515
    PNC Bank 1 7.25% $6,227
    Prosperity Home Mortgage, LLC 1 6.50% $5,131
    Farm Credit of the Virginias, ACA 1 8.38% $600
    Virginia Credit Union, Inc. 1 6.88% $3,798
    Beeline Loans, Inc. 1 8.25% $11,404
    EVERENCE FEDERAL CREDIT UNION 1 9.38% $3,202
    Stifel Bank and Trust 1 7.13% $2,172
    SUMMIT FUNDING, INC. 1 6.99% $5,531
    TD Bank 1 8.10% $99
    ENVOY MORTGAGE, LTD 1 6.50% $5,934
    The Huntington National Bank 1 6.25% $3,717
    DEEPHAVEN MORTGAGE LLC 1 8.50% $9,813
    ARC HOME LLC 1 7.63% $4,687
    CROSSCOUNTRY MORTGAGE, LLC 1 7.99% $6,154
    Fulton Bank 1 7.38% $6,930
    GSF Mortgage Corporation 1 7.38% $2,498
    FREEDOM MORTGAGE CORPORATION 1 8.50% $7,645
    C & F Mortgage Corporation 1 5.88% $3,291
    HOMESTEAD FUNDING CORP. 1 6.63% $1,506
    First Reliance Bank 1 5.63% $3,567
    Carter Bank & Trust 1 6.75% $7,800

    Martinsville Average Closing Costs & Other Stats

    Martinsville, VA's 59 lenders originated 978 loans during 2024. The total origination value was $146,830,000, with an average loan value of $150,133.

    Martinsville's average closing costs are $4,875.

    The top Martinsville lender as defined by loan originations is QUICKEN LOANS, LLC, with 41 loans originated. Their average total fees are $4,727, which is $1,144 higher than the next largest lender, Alcova Mortgage LLC.

    The lowest fee Martinsville lenders (with over 10 loans originated) are The Fidelity Bank ($3,334), Alcova Mortgage LLC ($3,583), Atlantic Union Bank ($3,825), QUICKEN LOANS, LLC ($4,727) and Blue Ridge Bank ($6,028).

    The lowest rate Martinsville lenders (with over 10 loans originated) are The Fidelity Bank (6.54%), Blue Ridge Bank (6.59%), Atlantic Union Bank (6.67%), QUICKEN LOANS, LLC (6.91%) and Alcova Mortgage LLC (7.03%).

    Martinsville, VA 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 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
    Alcova Mortgage LLC $16,750,000 $17,075,000 1.9% 11.6%
    QUICKEN LOANS, LLC $12,085,000 $14,120,000 16.8% 9.6%
    Blue Ridge Bank $9,085,000 $11,945,000 31.5% 8.1%
    Mortgage Research Center, LLC $5,115,000 $7,940,000 55.2% 5.4%
    Atlantic Union Bank $485,000 $6,360,000 1,211.3% 4.3%
    UNITED WHOLESALE MORTGAGE, LLC $2,550,000 $5,635,000 121.0% 3.8%
    ValleyStar Credit Union $5,090,000 $5,215,000 2.5% 3.6%
    The Fidelity Bank $4,840,000 $5,115,000 5.7% 3.5%
    Atlantic Coast Mortgage, LLC $1,820,000 $4,545,000 149.7% 3.1%
    Carter Bank & Trust $755,000 $3,570,000 372.8% 2.4%
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. $2,790,000 $2,980,000 6.8% 2.0%
    Truist $2,720,000 $2,585,000 -5.0% 1.8%
    PENNYMAC LOAN SERVICES, LLC $625,000 $2,545,000 307.2% 1.7%
    BROKER SOLUTIONS, INC. $560,000 $2,460,000 339.3% 1.7%
    MOVEMENT MORTGAGE, LLC $1,285,000 $2,285,000 77.8% 1.6%
    VANDERBILT MORTGAGE AND FINANCE, INC. $1,705,000 $2,000,000 17.3% 1.4%
    VILLAGE CAPITAL MORTGAGE $1,705,000 n/a 1.2%
    NAVY FEDERAL CREDIT UNION $970,000 $1,405,000 44.8% 1.0%
    First Horizon Bank $1,610,000 $1,400,000 -13.0% 1.0%
    GUARANTEED RATE, INC. $1,320,000 n/a 0.9%
    FREEDOM MORTGAGE CORPORATION $540,000 $1,295,000 139.8% 0.9%
    MEMBER ONE $420,000 $1,265,000 201.2% 0.9%
    CNB Bank $285,000 $1,000,000 250.9% 0.7%
    AMERICAN FINANCIAL RESOURCES, INC. $965,000 n/a 0.7%
    STATE EMPLOYEES' $705,000 $945,000 34.0% 0.6%
    ZILLOW HOME LOANS, LLC $140,000 $920,000 557.1% 0.6%
    Virginia Credit Union, Inc. $210,000 $900,000 328.6% 0.6%
    NEWREZ LLC $155,000 $885,000 471.0% 0.6%
    Truliant Federal Credit Union $525,000 $880,000 67.6% 0.6%
    Wells Fargo Bank $1,615,000 $875,000 -45.8% 0.6%
    MUTUAL OF OMAHA MORTGAGE, INC. $295,000 $860,000 191.5% 0.6%
    First National Bank of Pennsylvania $765,000 $830,000 8.5% 0.6%
    First Bank $785,000 n/a 0.5%
    UNION HOME MORTGAGE CORP. $850,000 $775,000 -8.8% 0.5%
    NEW DAY FINANCIAL, LLC $1,225,000 $740,000 -39.6% 0.5%
    JPMorgan Chase Bank $720,000 n/a 0.5%
    LOANDEPOT.COM, LLC $355,000 $720,000 102.8% 0.5%
    Mr. Cooper ( Nationstar Mortgage ) $125,000 $715,000 472.0% 0.5%
    PNC Bank $510,000 $645,000 26.5% 0.4%
    AMERISAVE MORTGAGE CORPORATION $335,000 $625,000 86.6% 0.4%
    Figure Lending LLC $125,000 $625,000 400.0% 0.4%
    Prosperity Home Mortgage, LLC $265,000 $560,000 111.3% 0.4%
    Equity Prime Mortgage LLC $545,000 n/a 0.4%
    RELIANCE FIRST CAPITAL, LLC $125,000 $535,000 328.0% 0.4%
    CARDINAL FINANCIAL $705,000 $510,000 -27.7% 0.3%
    FIRST BANCORP $3,010,000 $510,000 -83.1% 0.3%
    Bank of America $135,000 $495,000 266.7% 0.3%
    Carrington Mortgage Services, LLC $750,000 $480,000 -36.0% 0.3%
    CALCON MUTUAL MORTGAGE LLC $320,000 $455,000 42.2% 0.3%
    LENDINGHOME FUNDING CORPORATION $455,000 n/a 0.3%
    SWBC MORTGAGE CORPORATION $420,000 $440,000 4.8% 0.3%
    Mid-Continent Funding, Inc. $400,000 n/a 0.3%
    PLANET HOME LENDING, LLC $400,000 n/a 0.3%
    LOANPAL, LLC $405,000 $390,000 -3.7% 0.3%
    AmeriHome Mortgage Company, LLC $385,000 n/a 0.3%
    Farm Credit of the Virginias, ACA $385,000 n/a 0.3%
    Stifel Bank and Trust $385,000 n/a 0.3%
    21ST MORTGAGE CORPORATION $775,000 $365,000 -52.9% 0.2%
    Advance Financial Group, LLC $355,000 n/a 0.2%
    FREEDOM FIRST $245,000 $350,000 42.9% 0.2%
    Loan Simple, Inc. $340,000 n/a 0.2%
    First Federal Bank $330,000 n/a 0.2%
    NATION ONE MORTGAGE CORPORATION $195,000 $330,000 69.2% 0.2%
    Beeline Loans, Inc. $305,000 n/a 0.2%
    HOMESIDE FINANCIAL, LLC $295,000 $300,000 1.7% 0.2%
    Credence Funding Corporation $285,000 n/a 0.2%
    DEEPHAVEN MORTGAGE LLC $275,000 n/a 0.2%
    Fulton Bank $275,000 n/a 0.2%
    GREENSTATE CREDIT UNION $75,000 $275,000 266.7% 0.2%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $270,000 n/a 0.2%
    SOUTHWEST STAGE FUNDING, LLC $270,000 n/a 0.2%
    Flagstar Bank, FSB $180,000 $265,000 47.2% 0.2%
    ENVOY MORTGAGE, LTD $260,000 n/a 0.2%
    EVERENCE FEDERAL CREDIT UNION $65,000 $260,000 300.0% 0.2%
    CAPITAL CENTER, L.L.C. $250,000 n/a 0.2%
    Renasant Bank $385,000 $250,000 -35.1% 0.2%
    Waterstone Mortgage Corporation $545,000 $250,000 -54.1% 0.2%
    AMERITRUST MORTGAGE CORPORATION $245,000 n/a 0.2%
    CLEARPATH LENDING $215,000 $235,000 9.3% 0.2%
    BLUE EAGLE CREDIT UNION $250,000 $230,000 -8.0% 0.2%
    ROYAL UNITED MORTGAGE LLC $150,000 $230,000 53.3% 0.2%
    Keystone Funding, Inc. $215,000 n/a 0.1%
    HOMESTEAD FUNDING CORP. $205,000 n/a 0.1%
    GSF Mortgage Corporation $195,000 n/a 0.1%
    Pinnacle Bank $165,000 $195,000 18.2% 0.1%
    T2 FINANCIAL LLC $195,000 n/a 0.1%
    AMERICAN FINANCIAL NETWORK, INC. $300,000 $185,000 -38.3% 0.1%
    EVANSVILLE TEACHERS $185,000 n/a 0.1%
    BAY EQUITY LLC $175,000 n/a 0.1%
    First Reliance Bank $175,000 n/a 0.1%
    Ixonia Bank $195,000 $165,000 -15.4% 0.1%
    FAY SERVICING, LLC $275,000 $155,000 -43.6% 0.1%
    MORTGAGE INVESTORS GROUP, INC. $155,000 n/a 0.1%
    SUMMIT FUNDING, INC. $155,000 n/a 0.1%
    The Federal Savings Bank $155,000 n/a 0.1%
    TOWER $155,000 n/a 0.1%
    AMERICAN HERITAGE LENDING, INC. $135,000 n/a 0.1%
    LIMA ONE CAPITAL, LLC $765,000 $135,000 -82.4% 0.1%
    PENTAGON FEDERAL CREDIT UNION $300,000 $135,000 -55.0% 0.1%
    SOUTHPOINT FINANCIAL SERVICES, INC. $135,000 n/a 0.1%
    Citizens Bank $625,000 $125,000 -80.0% 0.1%
    USAA Federal Savings Bank $1,105,000 $125,000 -88.7% 0.1%
    AMERICAN FINANCING CORPORATION $115,000 n/a 0.1%
    Barrington Bank & Trust Company, N.A. $75,000 $115,000 53.3% 0.1%
    TD Bank $105,000 n/a 0.1%
    Discover Bank $205,000 $100,000 -51.2% 0.1%
    SPRING EQ, LLC $35,000 $95,000 171.4% 0.1%
    TOWNE MORTGAGE COMPANY $105,000 $95,000 -9.5% 0.1%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $300,000 $85,000 -71.7% 0.1%
    LENDINGONE, LLC $85,000 n/a 0.1%
    V.I.P. MORTGAGE, INC. $85,000 n/a 0.1%
    ARC HOME LLC $225,000 $75,000 -66.7% 0.1%
    CROSSCOUNTRY MORTGAGE, LLC $595,000 $75,000 -87.4% 0.1%
    First National Bank $75,000 n/a 0.1%
    First National Bank of America $75,000 n/a 0.1%
    Magnolia Bank $75,000 n/a 0.1%
    Third Federal Savings and Loan Association of Cleveland $70,000 $75,000 7.1% 0.1%
    C & F Mortgage Corporation $370,000 $65,000 -82.4% 0.0%
    Deere Employees Credit Union $220,000 $65,000 -70.5% 0.0%
    The Huntington National Bank $65,000 n/a 0.0%
    HomeTrust Bank $175,000 $55,000 -68.6% 0.0%
    PIEDMONT ADVANTAGE CREDIT UNION $75,000 $55,000 -26.7% 0.0%
    U.S. Bank $225,000 $55,000 -75.6% 0.0%
    Coastal Community Bank $50,000 n/a 0.0%
    KeyBank $35,000 n/a 0.0%
    The Loan Store, Inc. $35,000 n/a 0.0%
    AFFINITY $25,000 n/a 0.0%

    Martinsville's top lender by overall market share is Alcova Mortgage LLC, with 11.6% market share. In second place, with 9.6%, is QUICKEN LOANS, LLC, having originated $14,120,000 in loans. In third place, with 8.1%, is Blue Ridge Bank, having originated $11,945,000 in loans. In fourth place, with 5.4%, is Mortgage Research Center, LLC, having originated $7,940,000 in loans. In fifth place, with 4.3%, is Atlantic Union Bank, having originated $6,360,000 in loans.

    Martinsville, VA Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 532 $96,050,000 $180,545
    Cash Out Refi 146 $21,030,000 $144,041
    Home Improvement 118 $8,700,000 $73,729
    Refi 101 $15,145,000 $149,950
    Other 81 $5,905,000 $72,901

    Martinsville's most frequently cited loan purpose was Home Purchase, with 532 originations. The 2nd most popular reason was Cash Out Refi, with 146 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 411 $67,725,000 $164,781
    7-8% 230 $33,950,000 $147,609
    Over 8% 201 $17,035,000 $84,751
    5-6% 117 $21,335,000 $182,350
    4-5% 7 $1,385,000 $197,857
    <2.5% 4 $40,000 $10,000

    During 2024, Martinsville's most frequently originated rate bucket was 6-7%, with 411 originations.

    Loan Sizing (Martinsville, VA MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 398 $57,630,000 $144,799
    $100,000 or less 354 $20,980,000 $59,266
    $200k-400k 190 $48,820,000 $256,947
    $400k-600k 32 $15,010,000 $469,063
    $600k-1000k 3 $2,385,000 $795,000
    $Over $1MM 1 $2,005,000 $2,005,000

    Martinsville's loan sizing saw the bucket of loans from $100k-200k with 398 originations, totaling $57,630,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 420 $78,230,000 $186,262
    60-80% 209 $33,115,000 $158,445
    20-40% 111 $7,655,000 $68,964
    40-60% 107 $11,185,000 $104,533
    Under 20% 84 $2,660,000 $31,667
    Over 100% 18 $4,120,000 $228,889

    Martinsville's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 420 originations, totaling $78,230,000 in origination value.