McPherson Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Mcpherson averaged
6.6%
for the week of 2025-05-08, compared to the national average of
6.76% for the same period.
The average rate for the prior week (2025-05-01) was
6.9% and
one month ago for the week of 2025-04-03, the
average rate was 6.48%.
Mcpherson's average rate one year ago was 7.06%.
For refis of the same type during the week of 2025-05-08, the average rate
was 7.36%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-05-08 | 6.76% |
| Mcpherson 30 Year Fixed Rate | 2025-05-08 | 6.6% |
| Mcpherson 30 Year Fixed Rate Refi | 2025-05-08 | 7.36% |
| Mcpherson 15 Year Fixed Rate | 2025-05-08 | 5.99% |
| Mcpherson 15 Year Fixed Rate Refi | 2025-05-08 | 5.99% |
| Mcpherson 30 Year FHA | 2025-05-08 | 6.68% |
| Mcpherson 30 Year FHA Refi | 2025-05-08 | 6.28% |
| Mcpherson 30 Year USDA | 2025-05-08 | 6.67% |
| Mcpherson 30 Year USDA Refi | 2025-05-08 | 6.37% |
| Mcpherson 30 Year VA | 2025-05-08 | 6.17% |
| Mcpherson 30 Year VA Refi | 2025-05-08 | 6.47% |
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.).
McPherson Average Closing Costs & Other Stats
McPherson, KS's 32 lenders originated 535
loans during 2024. The total origination value was $89,455,000, with an average loan value of
$167,206.
McPherson's average closing costs are $4,135.
The top McPherson lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with
35 loans originated. Their average total fees are
$3,639, which is $573
higher than the next largest lender,
Gateway First Bank.
The lowest fee McPherson lenders (with over 10 loans originated) are
Gateway First Bank ($3,067), FLAT BRANCH MORTGAGE, INC. ($3,639), .
The lowest rate McPherson lenders (with over 10 loans originated) are
FLAT BRANCH MORTGAGE, INC. (6.73%), Gateway First Bank (7.03%), .
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 | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| FLAT BRANCH MORTGAGE, INC. | $10,225,000 | $12,595,000 | 23.2% | 14.1% |
| Gateway First Bank | $6,395,000 | $5,325,000 | -16.7% | 6.0% |
| The Citizens State Bank | $2,950,000 | $3,560,000 | 20.7% | 4.0% |
| QUICKEN LOANS, LLC | $1,345,000 | $3,210,000 | 138.7% | 3.6% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $1,805,000 | $3,095,000 | 71.5% | 3.5% |
| The Bennington State Bank | $465,000 | $2,550,000 | 448.4% | 2.9% |
| Mortgage Research Center, LLC | $1,460,000 | $2,310,000 | 58.2% | 2.6% |
| PENNYMAC LOAN SERVICES, LLC | $1,350,000 | $1,440,000 | 6.7% | 1.6% |
| HEARTLAND CREDIT UNION | $1,970,000 | $1,320,000 | -33.0% | 1.5% |
| Members Mortgage Services, L.L.C. | $920,000 | n/a | 1.0% | |
| Great Plains Federal Credit Un | $370,000 | $915,000 | 147.3% | 1.0% |
| NBH Bank | $210,000 | $825,000 | 292.9% | 0.9% |
| Mortgage Investment Services Corporation | $220,000 | $775,000 | 252.3% | 0.9% |
| FREEDOM MORTGAGE CORPORATION | $135,000 | $685,000 | 407.4% | 0.8% |
| NAVY FEDERAL CREDIT UNION | $55,000 | $635,000 | 1,054.5% | 0.7% |
| Bank of America | $130,000 | $580,000 | 346.2% | 0.6% |
| PLANET HOME LENDING, LLC | $515,000 | $575,000 | 11.7% | 0.6% |
| Mr. Cooper ( Nationstar Mortgage ) | $205,000 | $550,000 | 168.3% | 0.6% |
| Wells Fargo Bank | $550,000 | n/a | 0.6% | |
| LOANDEPOT.COM, LLC | $270,000 | $515,000 | 90.7% | 0.6% |
| MID AMERICA MORTGAGE, INC. | $135,000 | $500,000 | 270.4% | 0.6% |
| UNITED WHOLESALE MORTGAGE, LLC | $415,000 | $500,000 | 20.5% | 0.6% |
| UNION HOME MORTGAGE CORP. | $450,000 | n/a | 0.5% | |
| Intrust Bank | $405,000 | $440,000 | 8.6% | 0.5% |
| Arvest Bank | $425,000 | n/a | 0.5% | |
| PLAZA HOME MORTGAGE, INC. | $375,000 | n/a | 0.4% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $280,000 | $370,000 | 32.1% | 0.4% |
| Armed Forces Bank | $315,000 | $365,000 | 15.9% | 0.4% |
| CREDIT UNION OF AMERICA | $340,000 | n/a | 0.4% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $325,000 | n/a | 0.4% | |
| M&T Bank | $295,000 | n/a | 0.3% | |
| U.S. Bank | $35,000 | $295,000 | 742.9% | 0.3% |
| CHURCHILL MORTGAGE CORPORATION | $285,000 | n/a | 0.3% | |
| Sierra Pacific Mortgage Company, Inc. | $495,000 | $285,000 | -42.4% | 0.3% |
| Northpointe Bank | $245,000 | n/a | 0.3% | |
| Emprise Bank | $740,000 | $230,000 | -68.9% | 0.3% |
| AMERICAN FINANCIAL RESOURCES, INC. | $225,000 | n/a | 0.3% | |
| Bankers' Bank | $215,000 | n/a | 0.2% | |
| AMERISAVE MORTGAGE CORPORATION | $210,000 | n/a | 0.2% | |
| ALLIANT CREDIT UNION | $205,000 | n/a | 0.2% | |
| Sunflower Bank | $105,000 | $205,000 | 95.2% | 0.2% |
| MID AMERICAN | $195,000 | n/a | 0.2% | |
| OPEN MORTGAGE, LLC | $280,000 | $195,000 | -30.4% | 0.2% |
| PENTAGON FEDERAL CREDIT UNION | $205,000 | $195,000 | -4.9% | 0.2% |
| Community National Bank & Trust | $175,000 | $185,000 | 5.7% | 0.2% |
| Discover Bank | $140,000 | $160,000 | 14.3% | 0.2% |
| CMG MORTGAGE, INC. | $145,000 | n/a | 0.2% | |
| PREMIA MORTGAGE, LLC | $145,000 | n/a | 0.2% | |
| Servion, Inc. | $145,000 | n/a | 0.2% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $200,000 | $115,000 | -42.5% | 0.1% |
| Oakstar Bank | $115,000 | n/a | 0.1% | |
| VALLEY STATE BANK | $115,000 | $115,000 | 0.0% | 0.1% |
| Fidelity Bank | $720,000 | $110,000 | -84.7% | 0.1% |
| Central National Bank | $155,000 | $105,000 | -32.3% | 0.1% |
| MERITRUST Federal Credit Union | $305,000 | $105,000 | -65.6% | 0.1% |
| ENDEAVOR CAPITAL, LLC. | $85,000 | n/a | 0.1% | |
| Figure Lending LLC | $160,000 | $80,000 | -50.0% | 0.1% |
| GOLDEN PLAINS | $50,000 | $80,000 | 60.0% | 0.1% |
| LIMA ONE CAPITAL, LLC | $75,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $95,000 | $55,000 | -42.1% | 0.1% |
| 21ST MORTGAGE CORPORATION | $45,000 | n/a | 0.1% | |
| BROKER SOLUTIONS, INC. | $325,000 | $45,000 | -86.2% | 0.1% |
| EVERENCE FEDERAL CREDIT UNION | $35,000 | n/a | 0.0% | |
| ALL IN | $25,000 | n/a | 0.0% | |
| Coastal Community Bank | $110,000 | $25,000 | -77.3% | 0.0% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $45,000 | $25,000 | -44.4% | 0.0% |
McPherson's top lender by overall market share is FLAT BRANCH MORTGAGE, INC., with 14.1% market share. In second place, with 6.0%, is Gateway First Bank, having originated $5,325,000 in loans. In third place, with 4.0%, is The Citizens State Bank, having originated $3,560,000 in loans. In fourth place, with 3.6%, is QUICKEN LOANS, LLC, having originated $3,210,000 in loans. In fifth place, with 3.5%, is PRIMARY RESIDENTIAL MORTGAGE, INC., having originated $3,095,000 in loans.
McPherson, KS Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 338 | $65,680,000 | $194,320 |
| Refi | 75 | $15,185,000 | $202,467 |
| Home Improvement | 54 | $2,550,000 | $47,222 |
| Cash Out Refi | 36 | $4,680,000 | $130,000 |
| Other | 32 | $1,360,000 | $42,500 |
Mcpherson's most frequently cited loan purpose was Home Purchase, with 338 originations. The 2nd most popular reason was Refi, with 75 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 233 | $44,625,000 | $191,524 |
| 7-8% | 84 | $12,910,000 | $153,690 |
| Over 8% | 65 | $6,565,000 | $101,000 |
| 5-6% | 39 | $7,365,000 | $188,846 |
During 2024, Mcpherson's most frequently originated rate bucket was 6-7%, with 233 originations.
Loan Sizing (McPherson, KS MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 205 | $29,825,000 | $145,488 |
| $100,000 or less | 181 | $9,195,000 | $50,801 |
| $200k-400k | 124 | $33,280,000 | $268,387 |
| $400k-600k | 14 | $6,730,000 | $480,714 |
| $600k-1000k | 7 | $4,905,000 | $700,714 |
| $Over $1MM | 4 | $5,520,000 | $1,380,000 |
McPherson's loan sizing saw the bucket of loans from $100k-200k with 205 originations, totaling $29,825,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 228 | $45,460,000 | $199,386 |
| 60-80% | 82 | $14,550,000 | $177,439 |
| Under 20% | 39 | $1,265,000 | $32,436 |
| 40-60% | 37 | $5,855,000 | $158,243 |
| 20-40% | 28 | $2,960,000 | $105,714 |
| Over 100% | 3 | $705,000 | $235,000 |
McPherson's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 228 originations, totaling $45,460,000 in origination value.