Martinsville Mortgage Rates & Closing Costs
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% |
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.).
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.