McPherson Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Mcpherson averaged 7.22% for the week of 2023-11-30, compared to the national average of 7.22% for the same period.

The average rate for the prior week (2023-11-22) was 7.39% and one month ago for the week of 2023-10-26, the average rate was 7.89%.

Mcpherson's average rate one year ago was 6.68%.

For refis of the same type during the week of 2023-11-30, the average rate was 7.62%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-11-30 7.22%
Mcpherson 30 Year Fixed Rate 2023-11-30 7.22%
Mcpherson 30 Year Fixed Rate Refi 2023-11-30 7.62%
Mcpherson 15 Year Fixed Rate 2023-11-30 6.76%
Mcpherson 15 Year Fixed Rate Refi 2023-11-30 6.56%
Mcpherson 30 Year FHA 2023-11-30 6.75%
Mcpherson 30 Year FHA Refi 2023-11-30 7.15%
Mcpherson 30 Year USDA 2023-11-30 6.8%
Mcpherson 30 Year USDA Refi 2023-11-30 7.2%
Mcpherson 30 Year VA 2023-11-30 6.97%
Mcpherson 30 Year VA Refi 2023-11-30 6.57%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within McPherson, KS.

McPherson 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 McPherson, KS 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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
FLAT BRANCH MORTGAGE, INC. 29 5.10% $3,878
Gateway First Bank 14 5.18% $3,259
HEARTLAND CREDIT UNION 8 4.58% $2,512
QUICKEN LOANS, LLC 6 5.46% $5,722
Sunflower Bank 5 5.57% $3,230
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 4.13% $5,895
Wells Fargo Bank 2 5.00% $1,823
MERITRUST Federal Credit Union 2 4.06% $2,533
Bankers' Bank 2 6.63% $2,938
United Fidelity Funding Corp. 2 5.56% $3,558
Community National Bank & Trust 2 6.19% $3,898
Flagstar Bank, FSB 1 5.13% $5,005
AMERISAVE MORTGAGE CORPORATION 1 4.00% $4,877
Mr. Cooper ( Nationstar Mortgage ) 1 3.50% $4,893
NAVY FEDERAL CREDIT UNION 1 9.00% $2,465
NBH Bank 1 3.88% $3,260
NEWREZ LLC 1 6.99% $5,684
Northpointe Bank 1 4.38% $2,215
PENNYMAC LOAN SERVICES, LLC 1 2.87% $3,792
PREMIA MORTGAGE, LLC 1 6.75% $1,145
UNION HOME MORTGAGE CORP. 1 5.50% $3,966
USAA Federal Savings Bank 1 4.00% $2,129
U.S. Bank 1 5.38% $2,803
JPMorgan Chase Bank 1 5.88% $3,237
Azura Credit Union 1 5.25% $0
Bank of the West 1 5.63% $8,238
BETTER MORTGAGE CORPORATION 1 4.75% $7,603
BROKER SOLUTIONS, INC. 1 3.63% $4,327
Capitol Federal Savings Bank 1 5.00% $2,226
Commerce Bank 1 3.75% $2,809
CREDIT UNION OF AMERICA 1 6.38% $2,361
Emprise Bank 1 6.38% $2,508
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.25% $935
Farm Credit Mid-America, ACA 1 4.80% $7,977

McPherson Average Closing Costs & Other Stats

McPherson, KS's 34 lenders originated 347 loans during 2022. The total origination value was $56,425,000, with an average loan value of $162,608.

McPherson's average closing costs are $3,979.

The top McPherson lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 29 loans originated. Their average total fees are $3,878, which is $619 higher than the next largest lender, Gateway First Bank.

The lowest fee McPherson lenders (with over 10 loans originated) are Gateway First Bank ($3,259), FLAT BRANCH MORTGAGE, INC. ($3,878), .

The lowest rate McPherson lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. (5.10%), Gateway First Bank (5.18%), .

McPherson, KS 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
FLAT BRANCH MORTGAGE, INC. $7,700,000 $11,740,000 52.5% 20.8%
Gateway First Bank $12,005,000 $8,050,000 -32.9% 14.3%
The Citizens State Bank $15,170,000 $7,340,000 -51.6% 13.0%
PRIMARY RESIDENTIAL MORTGAGE, INC. $4,380,000 $3,450,000 -21.2% 6.1%
QUICKEN LOANS, LLC $7,260,000 $2,735,000 -62.3% 4.8%
Emprise Bank $1,155,000 $1,975,000 71.0% 3.5%
The Bennington State Bank $1,165,000 $1,620,000 39.1% 2.9%
HEARTLAND CREDIT UNION $2,415,000 $1,455,000 -39.8% 2.6%
Mortgage Research Center, LLC $2,195,000 $700,000 -68.1% 1.2%
The Union State Bank $300,000 $685,000 128.3% 1.2%
Mr. Cooper ( Nationstar Mortgage ) $1,185,000 $665,000 -43.9% 1.2%
Sunflower Bank $1,955,000 $665,000 -66.0% 1.2%
HOME POINT FINANCIAL CORPORATION $530,000 $635,000 19.8% 1.1%
PENNYMAC LOAN SERVICES, LLC $1,795,000 $625,000 -65.2% 1.1%
Wells Fargo Bank $750,000 $595,000 -20.7% 1.1%
Farm Credit Mid-America, ACA $555,000 n/a 1.0%
Community National Bank & Trust $65,000 $545,000 738.5% 1.0%
FREEDOM MORTGAGE CORPORATION $4,760,000 $510,000 -89.3% 0.9%
Plains Commerce Bank $75,000 $500,000 566.7% 0.9%
Bank of the West $450,000 n/a 0.8%
Bankers' Bank $65,000 $440,000 576.9% 0.8%
Mortgage Investment Services Corporation $665,000 $440,000 -33.8% 0.8%
RELIANCE FIRST CAPITAL, LLC $175,000 $440,000 151.4% 0.8%
UNION HOME MORTGAGE CORP. $440,000 n/a 0.8%
MERITRUST Federal Credit Union $205,000 $435,000 112.2% 0.8%
AMERICAN FINANCING CORPORATION $350,000 $420,000 20.0% 0.7%
Encompass Lending Group, LP $365,000 n/a 0.6%
U.S. Bank $415,000 $345,000 -16.9% 0.6%
Commerce Bank $340,000 n/a 0.6%
United Fidelity Funding Corp. $320,000 $330,000 3.1% 0.6%
CREDIT UNION OF AMERICA $280,000 $310,000 10.7% 0.5%
PREMIA MORTGAGE, LLC $305,000 n/a 0.5%
Capitol Federal Savings Bank $720,000 $290,000 -59.7% 0.5%
COMMUNITYAMERICA $155,000 $275,000 77.4% 0.5%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $535,000 $270,000 -49.5% 0.5%
NEW DAY FINANCIAL, LLC $455,000 $270,000 -40.7% 0.5%
First Guaranty Mortgage Corporation $375,000 $265,000 -29.3% 0.5%
Flagstar Bank, FSB $250,000 $265,000 6.0% 0.5%
QUANTUM CREDIT UNION $250,000 n/a 0.4%
PLANET HOME LENDING, LLC $245,000 n/a 0.4%
GOLDEN PLAINS $190,000 $235,000 23.7% 0.4%
UNITED WHOLESALE MORTGAGE, LLC $235,000 $225,000 -4.3% 0.4%
BETTER MORTGAGE CORPORATION $205,000 n/a 0.4%
LOANDEPOT.COM, LLC $1,010,000 $205,000 -79.7% 0.4%
DAS Acquisition Company, LLC $195,000 n/a 0.3%
MUTUAL OF OMAHA MORTGAGE, INC. $125,000 $195,000 56.0% 0.3%
Exchange Bank $185,000 n/a 0.3%
DELMAR FINANCIAL COMPANY $175,000 n/a 0.3%
A&D Mortgage LLC $155,000 n/a 0.3%
CROSSCOUNTRY MORTGAGE, LLC $155,000 n/a 0.3%
NBH Bank $150,000 n/a 0.3%
OPEN MORTGAGE, LLC $585,000 $145,000 -75.2% 0.3%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $135,000 n/a 0.2%
NAVY FEDERAL CREDIT UNION $640,000 $130,000 -79.7% 0.2%
BROKER SOLUTIONS, INC. $540,000 $115,000 -78.7% 0.2%
JPMorgan Chase Bank $730,000 $115,000 -84.2% 0.2%
NEWREZ LLC $910,000 $115,000 -87.4% 0.2%
Azura Credit Union $105,000 n/a 0.2%
AMERISAVE MORTGAGE CORPORATION $280,000 $95,000 -66.1% 0.2%
Carrington Mortgage Services, LLC $260,000 $95,000 -63.5% 0.2%
Central National Bank $510,000 $95,000 -81.4% 0.2%
MID AMERICA MORTGAGE, INC. $95,000 n/a 0.2%
Northpointe Bank $95,000 n/a 0.2%
Wichita Federal Credit Union $85,000 n/a 0.2%
Simmons Bank $825,000 $75,000 -90.9% 0.1%
SPRING EQ, LLC $75,000 n/a 0.1%
THRIVENT Federal Credit Union $75,000 n/a 0.1%
USAA Federal Savings Bank $460,000 $65,000 -85.9% 0.1%
Discover Bank $85,000 $55,000 -35.3% 0.1%
Sierra Pacific Mortgage Company, Inc. $285,000 $55,000 -80.7% 0.1%
AMERICAN ADVISORS GROUP $105,000 $50,000 -52.4% 0.1%
Fidelity Bank $340,000 $45,000 -86.8% 0.1%
Envista Credit Union $15,000 $15,000 0.0% 0.0%
Home Loan Investment Bank, F.S.B. $15,000 n/a 0.0%

McPherson's top lender by overall market share is FLAT BRANCH MORTGAGE, INC., with 20.8% market share. In second place, with 14.3%, is Gateway First Bank, having originated $8,050,000 in loans. In third place, with 13.0%, is The Citizens State Bank, having originated $7,340,000 in loans. In fourth place, with 6.1%, is PRIMARY RESIDENTIAL MORTGAGE, INC., having originated $3,450,000 in loans. In fifth place, with 4.8%, is QUICKEN LOANS, LLC, having originated $2,735,000 in loans.

McPherson, KS Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 239 $43,805,000 $183,285
Cash Out Refi 51 $7,565,000 $148,333
Refi 29 $3,795,000 $130,862
Home Improvement 21 $845,000 $40,238
Other 7 $415,000 $59,286

Mcpherson's most frequently cited loan purpose was Home Purchase, with 239 originations. The 2nd most popular reason was Cash Out Refi, with 51 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
5-6% 89 $14,435,000 $162,191
3-4% 61 $10,135,000 $166,148
4-5% 57 $9,515,000 $166,930
6-7% 46 $6,980,000 $151,739
7-8% 15 $1,925,000 $128,333
2.5-3% 13 $1,835,000 $141,154
<2.5% 5 $1,485,000 $297,000
Over 8% 4 $220,000 $55,000

During 2022, Mcpherson's most frequently originated rate bucket was 5-6%, with 89 originations.

Loan Sizing (McPherson, KS MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 156 $22,610,000 $144,936
$100,000 or less 92 $5,570,000 $60,543
$200k-400k 89 $23,155,000 $260,169
$400k-600k 8 $3,860,000 $482,500
$600k-1000k 2 $1,230,000 $615,000

McPherson's loan sizing saw the bucket of loans from $100k-200k with 156 originations, totaling $22,610,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 181 $32,295,000 $178,425
60-80% 47 $8,075,000 $171,809
Under 20% 21 $565,000 $26,905
40-60% 18 $2,850,000 $158,333
20-40% 15 $1,315,000 $87,667
Over 100% 7 $1,415,000 $202,143

McPherson's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 181 originations, totaling $32,295,000 in origination value.