McPherson Mortgage Rates & Closing Costs
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% |
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 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.