Mayfield Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Mayfield averaged
7.16%
for the week of 2025-07-10, compared to the national average of
6.72% for the same period.
The average rate for the prior week (2025-07-03) was
6.81% and
one month ago for the week of 2025-06-05, the
average rate was 7.19%.
Mayfield's average rate one year ago was 7.29%.
For refis of the same type during the week of 2025-07-10, the average rate
was 7.32%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-07-10 | 6.72% |
| Mayfield 30 Year Fixed Rate | 2025-07-10 | 7.16% |
| Mayfield 30 Year Fixed Rate Refi | 2025-07-10 | 7.32% |
| Mayfield 15 Year Fixed Rate | 2025-07-10 | 5.96% |
| Mayfield 15 Year Fixed Rate Refi | 2025-07-10 | 6.26% |
| Mayfield 30 Year FHA | 2025-07-10 | 6.68% |
| Mayfield 30 Year FHA Refi | 2025-07-10 | 6.62% |
| Mayfield 30 Year USDA | 2025-07-10 | 6.25% |
| Mayfield 30 Year USDA Refi | 2025-07-10 | 6.45% |
| Mayfield 30 Year VA | 2025-07-10 | 6.17% |
| Mayfield 30 Year VA Refi | 2025-07-10 | 6.27% |
Mayfield 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 Mayfield, KY 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.).
Mayfield Average Closing Costs & Other Stats
Mayfield, KY's 36 lenders originated 531
loans during 2024. The total origination value was $79,205,000, with an average loan value of
$149,162.
Mayfield's average closing costs are $4,407.
The top Mayfield lender as defined by loan originations is Magnolia Bank, with
18 loans originated. Their average total fees are
$3,091, which is $118
higher than the next largest lender,
U.S. Bank.
The lowest fee Mayfield lenders (with over 10 loans originated) are
Independence Bank of Kentucky ($2,841), U.S. Bank ($2,973), Magnolia Bank ($3,091), GERSHMAN INVESTMENT CORP. ($3,390) and QUICKEN LOANS, LLC ($5,157).
The lowest rate Mayfield lenders (with over 10 loans originated) are
Magnolia Bank (6.74%), QUICKEN LOANS, LLC (6.89%), GERSHMAN INVESTMENT CORP. (6.89%), Independence Bank of Kentucky (6.92%) and U.S. Bank (6.93%).
Mayfield, KY 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 |
|---|---|---|---|---|
| U.S. Bank | $5,745,000 | $5,605,000 | -2.4% | 7.1% |
| QUICKEN LOANS, LLC | $2,735,000 | $5,455,000 | 99.5% | 6.9% |
| GERSHMAN INVESTMENT CORP. | $3,300,000 | $5,060,000 | 53.3% | 6.4% |
| FNB Bank, Inc. | $4,360,000 | $4,820,000 | 10.6% | 6.1% |
| Magnolia Bank | $2,525,000 | $4,700,000 | 86.1% | 5.9% |
| Independence Bank of Kentucky | $4,340,000 | $4,305,000 | -0.8% | 5.4% |
| Mortgage Research Center, LLC | $2,630,000 | $3,990,000 | 51.7% | 5.0% |
| UNITED WHOLESALE MORTGAGE, LLC | $2,445,000 | $3,555,000 | 45.4% | 4.5% |
| Regions Bank | $2,975,000 | $3,250,000 | 9.2% | 4.1% |
| The Paducah Bank and Trust Company | $2,010,000 | $1,940,000 | -3.5% | 2.4% |
| LOANDEPOT.COM, LLC | $1,820,000 | n/a | 2.3% | |
| River Valley AgCredit, ACA | $2,790,000 | $1,815,000 | -34.9% | 2.3% |
| STOCKTON MORTGAGE CORPORATION | $3,740,000 | $1,770,000 | -52.7% | 2.2% |
| 21ST MORTGAGE CORPORATION | $280,000 | $1,390,000 | 396.4% | 1.8% |
| EVERETT FINANCIAL, INC. | $1,145,000 | $1,105,000 | -3.5% | 1.4% |
| FREEDOM MORTGAGE CORPORATION | $1,070,000 | n/a | 1.4% | |
| RUOFF MORTGAGE COMPANY, INC. | $1,290,000 | $1,030,000 | -20.2% | 1.3% |
| TOWNE MORTGAGE COMPANY | $855,000 | n/a | 1.1% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $975,000 | $805,000 | -17.4% | 1.0% |
| NAVY FEDERAL CREDIT UNION | $610,000 | $760,000 | 24.6% | 1.0% |
| CROSSCOUNTRY MORTGAGE, LLC | $295,000 | $755,000 | 155.9% | 1.0% |
| PENNYMAC LOAN SERVICES, LLC | $765,000 | $575,000 | -24.8% | 0.7% |
| USAA Federal Savings Bank | $195,000 | $530,000 | 171.8% | 0.7% |
| UNION HOME MORTGAGE CORP. | $500,000 | n/a | 0.6% | |
| Mr. Cooper ( Nationstar Mortgage ) | $270,000 | $470,000 | 74.1% | 0.6% |
| AgFirst Farm Credit Bank | $585,000 | $420,000 | -28.2% | 0.5% |
| TOP FLITE FINANCIAL, INC. | $95,000 | $420,000 | 342.1% | 0.5% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $235,000 | $380,000 | 61.7% | 0.5% |
| The Huntington National Bank | $350,000 | n/a | 0.4% | |
| JPMorgan Chase Bank | $660,000 | $325,000 | -50.8% | 0.4% |
| PLAZA HOME MORTGAGE, INC. | $215,000 | $320,000 | 48.8% | 0.4% |
| VILLAGE CAPITAL MORTGAGE | $320,000 | n/a | 0.4% | |
| ZILLOW HOME LOANS, LLC | $320,000 | n/a | 0.4% | |
| CIS Financial Services, Inc. | $165,000 | $300,000 | 81.8% | 0.4% |
| Carrington Mortgage Services, LLC | $260,000 | $290,000 | 11.5% | 0.4% |
| ENVOY MORTGAGE, LTD | $275,000 | n/a | 0.3% | |
| LAKEVIEW LOAN SERVICING, LLC | $205,000 | $265,000 | 29.3% | 0.3% |
| First Financial Bank | $285,000 | $255,000 | -10.5% | 0.3% |
| MOVEMENT MORTGAGE, LLC | $135,000 | $255,000 | 88.9% | 0.3% |
| Discover Bank | $205,000 | $250,000 | 22.0% | 0.3% |
| AMERISAVE MORTGAGE CORPORATION | $505,000 | $245,000 | -51.5% | 0.3% |
| GUARANTEED RATE, INC. | $390,000 | $245,000 | -37.2% | 0.3% |
| T2 FINANCIAL LLC | $235,000 | n/a | 0.3% | |
| 1ST SIGNATURE LENDING, LLC | $225,000 | n/a | 0.3% | |
| CapStar Bank | $195,000 | $205,000 | 5.1% | 0.3% |
| Century Mortgage Company DBA Century Lending Company | $200,000 | n/a | 0.3% | |
| ROYAL UNITED MORTGAGE LLC | $835,000 | $200,000 | -76.0% | 0.3% |
| Waterstone Mortgage Corporation | $185,000 | n/a | 0.2% | |
| EMM LOANS LLC | $215,000 | $175,000 | -18.6% | 0.2% |
| The Federal Savings Bank | $165,000 | $175,000 | 6.1% | 0.2% |
| AMERICAN FINANCIAL RESOURCES, INC. | $165,000 | n/a | 0.2% | |
| CARDINAL FINANCIAL | $175,000 | $160,000 | -8.6% | 0.2% |
| AMERICAN FINANCING CORPORATION | $155,000 | n/a | 0.2% | |
| PLANET HOME LENDING, LLC | $155,000 | n/a | 0.2% | |
| FirstBank | $175,000 | $150,000 | -14.3% | 0.2% |
| GUILD MORTGAGE COMPANY | $145,000 | n/a | 0.2% | |
| Morgantown Bank & Trust Company, Incorporated | $145,000 | n/a | 0.2% | |
| NEW DAY FINANCIAL, LLC | $105,000 | $145,000 | 38.1% | 0.2% |
| Old Missouri Bank | $145,000 | n/a | 0.2% | |
| Truist | $245,000 | $145,000 | -40.8% | 0.2% |
| Fortera Federal Credit Union | $135,000 | n/a | 0.2% | |
| NBKC BANK | $135,000 | n/a | 0.2% | |
| LONGBRIDGE FINANCIAL, LLC | $125,000 | n/a | 0.2% | |
| FINANCE OF AMERICA REVERSE LLC | $115,000 | n/a | 0.1% | |
| ATLANTA POSTAL | $105,000 | n/a | 0.1% | |
| BETTER MORTGAGE CORPORATION | $105,000 | n/a | 0.1% | |
| First Citizens National Bank | $105,000 | n/a | 0.1% | |
| Northpointe Bank | $105,000 | n/a | 0.1% | |
| Pinnacle Bank | $105,000 | n/a | 0.1% | |
| NEWREZ LLC | $85,000 | n/a | 0.1% | |
| Nations Lending Corporation | $75,000 | n/a | 0.1% | |
| Renasant Bank | $325,000 | $75,000 | -76.9% | 0.1% |
| Equity Prime Mortgage LLC | $65,000 | n/a | 0.1% | |
| Bank of America | $55,000 | n/a | 0.1% | |
| FirstTrust Home Loans, Inc. | $1,025,000 | $45,000 | -95.6% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $35,000 | n/a | 0.0% | |
| Coastal Community Bank | $140,000 | $15,000 | -89.3% | 0.0% |
Mayfield's top lender by overall market share is U.S. Bank, with 7.1% market share. In second place, with 6.9%, is QUICKEN LOANS, LLC, having originated $5,455,000 in loans. In third place, with 6.4%, is GERSHMAN INVESTMENT CORP., having originated $5,060,000 in loans. In fourth place, with 6.1%, is FNB Bank, Inc., having originated $4,820,000 in loans. In fifth place, with 5.9%, is Magnolia Bank, having originated $4,700,000 in loans.
Mayfield, KY Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 321 | $53,655,000 | $167,150 |
| Refi | 80 | $12,180,000 | $152,250 |
| Cash Out Refi | 54 | $7,740,000 | $143,333 |
| Home Improvement | 41 | $2,845,000 | $69,390 |
| Other | 35 | $2,785,000 | $79,571 |
Mayfield's most frequently cited loan purpose was Home Purchase, with 321 originations. The 2nd most popular reason was Refi, with 80 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 191 | $32,975,000 | $172,644 |
| 7-8% | 92 | $13,630,000 | $148,152 |
| Over 8% | 70 | $5,910,000 | $84,429 |
| 5-6% | 45 | $7,845,000 | $174,333 |
| 3-4% | 15 | $105,000 | $7,000 |
| 4-5% | 2 | $530,000 | $265,000 |
| <2.5% | 1 | $5,000 | $5,000 |
During 2024, Mayfield's most frequently originated rate bucket was 6-7%, with 191 originations.
Loan Sizing (Mayfield, KY MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 233 | $34,075,000 | $146,245 |
| $100,000 or less | 176 | $9,510,000 | $54,034 |
| $200k-400k | 110 | $29,020,000 | $263,818 |
| $400k-600k | 8 | $3,710,000 | $463,750 |
| $600k-1000k | 3 | $1,865,000 | $621,667 |
| $Over $1MM | 1 | $1,025,000 | $1,025,000 |
Mayfield's loan sizing saw the bucket of loans from $100k-200k with 233 originations, totaling $34,075,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 213 | $38,845,000 | $182,371 |
| 60-80% | 71 | $10,355,000 | $145,845 |
| 20-40% | 45 | $3,505,000 | $77,889 |
| Under 20% | 36 | $820,000 | $22,778 |
| 40-60% | 35 | $4,185,000 | $119,571 |
| Over 100% | 7 | $1,585,000 | $226,429 |
Mayfield's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 213 originations, totaling $38,845,000 in origination value.