Miami Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Miami averaged
6.5%
for the week of 2024-10-03, compared to the national average of
6.12% for the same period.
The average rate for the prior week (2024-09-26) was
6.16% and
one month ago for the week of 2024-08-29, the
average rate was 6.73%.
Miami's average rate one year ago was 7.69%.
For refis of the same type during the week of 2024-10-03, the average rate
was 6.42%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-03 | 6.12% |
Miami 30 Year Fixed Rate | 2024-10-03 | 6.5% |
Miami 30 Year Fixed Rate Refi | 2024-10-03 | 6.42% |
Miami 15 Year Fixed Rate | 2024-10-03 | 5.05% |
Miami 15 Year Fixed Rate Refi | 2024-10-03 | 5.55% |
Miami 30 Year FHA | 2024-10-03 | 5.89% |
Miami 30 Year FHA Refi | 2024-10-03 | 5.69% |
Miami 30 Year USDA | 2024-10-03 | 5.97% |
Miami 30 Year USDA Refi | 2024-10-03 | 5.97% |
Miami 30 Year VA | 2024-10-03 | 5.5% |
Miami 30 Year VA Refi | 2024-10-03 | 5.8% |
Miami 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 Miami, OK 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.).
Miami Average Closing Costs & Other Stats
Miami, OK's 35 lenders originated 307
loans during 2023. The total origination value was $47,135,000, with an average loan value of
$153,534.
Miami's average closing costs are $4,639.
The top Miami lender as defined by loan originations is Arvest Bank, with
35 loans originated. Their average total fees are
$4,068, which is $441
higher than the next largest lender,
FLAT BRANCH MORTGAGE, INC..
The lowest fee Miami lenders (with over 10 loans originated) are
FLAT BRANCH MORTGAGE, INC. ($3,627), Arvest Bank ($4,068), .
The lowest rate Miami lenders (with over 10 loans originated) are
FLAT BRANCH MORTGAGE, INC. (6.77%), Arvest Bank (6.88%), .
Miami, OK 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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
---|---|---|---|---|
Arvest Bank | $8,515,000 | $10,825,000 | 27.1% | 23.0% |
FLAT BRANCH MORTGAGE, INC. | $4,675,000 | $5,745,000 | 22.9% | 12.2% |
Mortgage Research Center, LLC | $2,600,000 | $2,045,000 | -21.3% | 4.3% |
QUICKEN LOANS, LLC | $5,180,000 | $1,790,000 | -65.4% | 3.8% |
The First National Bank and Trust Company of Broken Arrow | $1,675,000 | n/a | 3.6% | |
BancFirst | $965,000 | $1,140,000 | 18.1% | 2.4% |
Grand Savings Bank | $835,000 | $1,110,000 | 32.9% | 2.4% |
LOANDEPOT.COM, LLC | $640,000 | $1,060,000 | 65.6% | 2.2% |
AMERICAN FINANCIAL NETWORK, INC. | $1,030,000 | n/a | 2.2% | |
People's Bank of Seneca | $495,000 | $980,000 | 98.0% | 2.1% |
Chickasaw Community Bank | $3,545,000 | $910,000 | -74.3% | 1.9% |
TOWNE MORTGAGE COMPANY | $870,000 | $865,000 | -0.6% | 1.8% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $435,000 | $810,000 | 86.2% | 1.7% |
Flagstar Bank, FSB | $375,000 | $740,000 | 97.3% | 1.6% |
PENNYMAC LOAN SERVICES, LLC | $715,000 | $700,000 | -2.1% | 1.5% |
BROKER SOLUTIONS, INC. | $525,000 | $625,000 | 19.0% | 1.3% |
United Fidelity Funding Corp. | $3,060,000 | $570,000 | -81.4% | 1.2% |
Farm Credit Mid-America, ACA | $530,000 | n/a | 1.1% | |
TTCU Federal Credit Union | $270,000 | $515,000 | 90.7% | 1.1% |
UNITED WHOLESALE MORTGAGE, LLC | $685,000 | $505,000 | -26.3% | 1.1% |
Mortgage Investment Services Corporation | $2,875,000 | $490,000 | -83.0% | 1.0% |
The Central Trust Bank | $205,000 | $465,000 | 126.8% | 1.0% |
21ST MORTGAGE CORPORATION | $505,000 | $460,000 | -8.9% | 1.0% |
ARK-LA-TEX FINANCIAL SERVICES, LLC. | $460,000 | n/a | 1.0% | |
BOKF | $135,000 | $460,000 | 240.7% | 1.0% |
CORNERSTONE HOME LENDING, INC. | $175,000 | $405,000 | 131.4% | 0.9% |
First Community Bank | $440,000 | $390,000 | -11.4% | 0.8% |
First Bank | $385,000 | n/a | 0.8% | |
AMERISAVE MORTGAGE CORPORATION | $975,000 | $380,000 | -61.0% | 0.8% |
RCB Bank | $240,000 | $380,000 | 58.3% | 0.8% |
Southwest Missouri Bank | $25,000 | $370,000 | 1,380.0% | 0.8% |
Waterstone Mortgage Corporation | $125,000 | $365,000 | 192.0% | 0.8% |
GENEVA FINANCIAL, LLC | $350,000 | n/a | 0.7% | |
ENDEAVOR CAPITAL, LLC. | $335,000 | n/a | 0.7% | |
MORTGAGE SOLUTIONS OF COLORADO, LLC | $135,000 | $330,000 | 144.4% | 0.7% |
POLARIS HOME FUNDING CORP. | $325,000 | n/a | 0.7% | |
LOANPAL, LLC | $265,000 | $320,000 | 20.8% | 0.7% |
JPMorgan Chase Bank | $305,000 | n/a | 0.6% | |
International Bank of Commerce | $555,000 | $300,000 | -45.9% | 0.6% |
Pinnacle Bank | $1,190,000 | $245,000 | -79.4% | 0.5% |
Armstrong Bank | $35,000 | $235,000 | 571.4% | 0.5% |
CMG MORTGAGE, INC. | $225,000 | n/a | 0.5% | |
NEW DAY FINANCIAL, LLC | $325,000 | $225,000 | -30.8% | 0.5% |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $215,000 | n/a | 0.5% | |
EVERETT FINANCIAL, INC. | $135,000 | $200,000 | 48.1% | 0.4% |
NEWREZ LLC | $85,000 | $190,000 | 123.5% | 0.4% |
Bank of America | $250,000 | $185,000 | -26.0% | 0.4% |
FirstTrust Home Loans, Inc. | $475,000 | $185,000 | -61.1% | 0.4% |
MICHIGAN MUTUAL, INC. | $185,000 | n/a | 0.4% | |
MUTUAL OF OMAHA MORTGAGE, INC. | $185,000 | n/a | 0.4% | |
PNC Bank | $175,000 | n/a | 0.4% | |
Springfield First Community Bank | $335,000 | $175,000 | -47.8% | 0.4% |
US MORTGAGE CORPORATION | $165,000 | n/a | 0.4% | |
CREDIT HUMAN FEDERAL CREDIT UNION | $145,000 | n/a | 0.3% | |
MID AMERICA MORTGAGE, INC. | $810,000 | $145,000 | -82.1% | 0.3% |
NAVY FEDERAL CREDIT UNION | $800,000 | $140,000 | -82.5% | 0.3% |
First United Bank and Trust Company | $330,000 | $135,000 | -59.1% | 0.3% |
SpiritBank | $135,000 | n/a | 0.3% | |
ZILLOW HOME LOANS, LLC | $125,000 | $135,000 | 8.0% | 0.3% |
UNION HOME MORTGAGE CORP. | $125,000 | n/a | 0.3% | |
Community Bank and Trust | $55,000 | $120,000 | 118.2% | 0.3% |
CSL Financial, LLC | $115,000 | n/a | 0.2% | |
PRIMARY RESIDENTIAL MORTGAGE, INC. | $105,000 | n/a | 0.2% | |
TIB The Independent Bankersbank | $105,000 | n/a | 0.2% | |
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $95,000 | n/a | 0.2% | |
OPEN MORTGAGE, LLC | $155,000 | $90,000 | -41.9% | 0.2% |
AmeriHome Mortgage Company, LLC | $85,000 | n/a | 0.2% | |
FIDELITY BANK | $85,000 | n/a | 0.2% | |
Eagle Bank and Trust Company | $75,000 | n/a | 0.2% | |
Great Southern Bank | $65,000 | $75,000 | 15.4% | 0.2% |
Coastal Community Bank | $70,000 | n/a | 0.1% | |
ASSOCIATED MORTGAGE CORPORATION | $65,000 | n/a | 0.1% | |
PLANET HOME LENDING, LLC | $85,000 | $65,000 | -23.5% | 0.1% |
U.S. Bank | $390,000 | $65,000 | -83.3% | 0.1% |
Mabrey Bank | $55,000 | n/a | 0.1% | |
ROYAL UNITED MORTGAGE LLC | $45,000 | n/a | 0.1% | |
CoreFirst Bank & Trust | $25,000 | n/a | 0.1% | |
Figure Lending LLC | $25,000 | $25,000 | 0.0% | 0.1% |
Tinker Federal Credit Union | $25,000 | n/a | 0.1% |
Miami's top lender by overall market share is Arvest Bank, with 23.0% market share. In second place, with 12.2%, is FLAT BRANCH MORTGAGE, INC., having originated $5,745,000 in loans. In third place, with 4.3%, is Mortgage Research Center, LLC, having originated $2,045,000 in loans. In fourth place, with 3.8%, is QUICKEN LOANS, LLC, having originated $1,790,000 in loans. In fifth place, with 3.6%, is The First National Bank and Trust Company of Broken Arrow, having originated $1,675,000 in loans.
Miami Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Miami (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $84,250 (6.0%) | $109,558 (-9.8%) | 0.00 | 168 |
2018-02-01 | $83,750 (4.8%) | $110,865 (-8.0%) | 0.00 | 171 |
2018-03-01 | $88,750 (11.0%) | $113,289 (-2.9%) | 0.00 | 171 |
2018-04-01 | $86,875 (8.6%) | $109,927 (-7.2%) | 0.00 | 179 |
2018-05-01 | $85,850 (7.5%) | $111,399 (-8.2%) | 0.00 | 185 |
2018-06-01 | $80,450 (-2.5%) | $108,179 (-13.5%) | 0.00 | 188 |
2018-07-01 | $81,700 (-1.6%) | $112,716 (-10.4%) | 0.00 | 179 |
2018-08-01 | $82,675 (-7.1%) | $113,175 (-12.7%) | 0.00 | 166 |
2018-09-01 | $80,000 (-5.6%) | $116,587 (-5.3%) | 0.00 | 170 |
2018-10-01 | $82,900 (-0.1%) | $114,493 (-5.9%) | 0.00 | 172 |
2018-11-01 | $84,550 (-2.0%) | $114,805 (2.2%) | 0.00 | 169 |
2018-12-01 | $84,900 (-0.1%) | $113,983 (3.2%) | 0.00 | 160 |
2019-01-01 | $82,475 (-2.1%) | $114,172 (4.2%) | 0.00 | 141 |
2019-02-01 | $84,900 (1.4%) | $114,907 (3.7%) | 0.00 | 134 |
2019-03-01 | $86,421 (-2.6%) | $116,888 (3.2%) | 0.00 | 126 |
2019-04-01 | $88,725 (2.1%) | $118,681 (8.0%) | 0.00 | 117 |
2019-05-01 | $88,300 (2.9%) | $130,139 (16.8%) | 0.00 | 116 |
2019-06-01 | $87,900 (9.3%) | $126,243 (16.7%) | 0.00 | 114 |
2019-07-01 | $89,800 (9.9%) | $130,043 (15.4%) | 0.00 | 117 |
2019-08-01 | $88,673 (7.3%) | $126,234 (11.5%) | 0.00 | 125 |
2019-09-01 | $86,832 (8.5%) | $121,229 (4.0%) | 0.00 | 130 |
2019-10-01 | $85,755 (3.4%) | $118,593 (3.6%) | 0.00 | 134 |
2019-11-01 | $83,500 (-1.2%) | $114,666 (-0.1%) | 0.00 | 126 |
2019-12-01 | $79,950 (-5.8%) | $114,448 (0.4%) | 0.00 | 122 |
2020-01-01 | $79,900 (-3.1%) | $117,721 (3.1%) | 0.00 | 116 |
2020-02-01 | $79,700 (-6.1%) | $110,485 (-3.9%) | 0.00 | 116 |
2020-03-01 | $72,363 (-16.3%) | $108,304 (-7.3%) | 0.00 | 113 |
2020-04-01 | $74,875 (-15.6%) | $111,503 (-6.1%) | 0.00 | 106 |
2020-05-01 | $75,000 (-15.1%) | $117,583 (-9.7%) | 0.00 | 107 |
2020-06-01 | $77,550 (-11.8%) | $129,465 (2.6%) | 0.00 | 95 |
2020-07-01 | $82,850 (-7.7%) | $119,626 (-8.0%) | 0.00 | 86 |
2020-08-01 | $87,339 (-1.5%) | $121,112 (-4.1%) | 0.00 | 95 |
2020-09-01 | $105,000 (20.9%) | $132,880 (9.6%) | 0.00 | 85 |
2020-10-01 | $102,500 (19.5%) | $136,355 (15.0%) | 0.00 | 73 |
2020-11-01 | $104,875 (25.6%) | $132,942 (15.9%) | 0.00 | 76 |
2020-12-01 | $107,500 (34.5%) | $137,489 (20.1%) | 0.00 | 62 |
2021-01-01 | $99,950 (25.1%) | $135,378 (15.0%) | 0.00 | 59 |
2021-02-01 | $84,950 (6.6%) | $125,946 (14.0%) | 0.00 | 57 |
2021-03-01 | $84,700 (17.1%) | $132,968 (22.8%) | 0.00 | 56 |
2021-04-01 | $81,350 (8.7%) | $154,044 (38.2%) | 0.00 | 60 |
2021-05-01 | $84,750 (13.0%) | $129,717 (10.3%) | 0.00 | 59 |
2021-06-01 | $79,600 (2.6%) | $130,550 (0.8%) | 0.00 | 67 |
2021-07-01 | $82,450 (-0.5%) | $137,103 (14.6%) | 0.00 | 67 |
2021-08-01 | $92,000 (5.3%) | $145,555 (20.2%) | 0.00 | 64 |
2021-09-01 | $83,475 (-20.5%) | $143,555 (8.0%) | 0.00 | 67 |
2021-10-01 | $84,900 (-17.2%) | $151,787 (11.3%) | 0.00 | 64 |
2021-11-01 | $88,725 (-15.4%) | $166,114 (25.0%) | 0.00 | 66 |
2021-12-01 | $79,225 (-26.3%) | $146,196 (6.3%) | 0.00 | 72 |
2022-01-01 | $89,000 (-11.0%) | $153,578 (13.4%) | 0.00 | 72 |
2022-02-01 | $85,925 (1.2%) | $162,036 (28.7%) | 0.00 | 54 |
2022-03-01 | $79,900 (-5.7%) | $149,586 (12.5%) | 0.00 | 61 |
2022-04-01 | $79,900 (-1.8%) | $132,404 (-14.1%) | 0.00 | 60 |
2022-05-01 | $86,250 (1.8%) | $122,167 (-5.8%) | 0.00 | 59 |
2022-06-01 | $109,925 (38.1%) | $196,275 (50.3%) | 0.00 | 53 |
2022-07-01 | $119,900 (45.4%) | $212,087 (54.7%) | 0.00 | 57 |
2022-08-01 | $119,950 (30.4%) | $205,857 (41.4%) | 0.00 | 58 |
2022-09-01 | $129,950 (55.7%) | $195,988 (36.5%) | 0.00 | 63 |
2022-10-01 | $141,200 (66.3%) | $200,323 (32.0%) | 0.00 | 59 |
2022-11-01 | $131,500 (48.2%) | $194,113 (16.9%) | 0.00 | 54 |
2022-12-01 | $126,450 (59.6%) | $195,048 (33.4%) | 0.00 | 53 |
2023-01-01 | $130,900 (47.1%) | $179,462 (16.9%) | 0.00 | 54 |
2023-02-01 | $126,200 (46.9%) | $177,787 (9.7%) | 0.00 | 50 |
2023-03-01 | $146,675 (83.6%) | $201,159 (34.5%) | 0.00 | 46 |
2023-04-01 | $147,000 (84.0%) | $215,531 (62.8%) | 0.00 | 48 |
2023-05-01 | $131,150 (52.1%) | $192,266 (57.4%) | 0.00 | 58 |
2023-06-01 | $124,725 (13.5%) | $159,296 (-18.8%) | 0.00 | 62 |
2023-07-01 | $121,450 (1.3%) | $161,587 (-23.8%) | 0.00 | 53 |
2023-08-01 | $136,500 (13.8%) | $160,755 (-21.9%) | 0.00 | 44 |
2023-09-01 | $135,000 (3.9%) | $174,733 (-10.8%) | 0.00 | 54 |
2023-10-01 | $150,725 (6.8%) | $277,164 (38.4%) | 0.00 | 67 |
2023-11-01 | $152,000 (15.6%) | $277,285 (42.9%) | 0.00 | 62 |
2023-12-01 | $145,000 (14.7%) | $278,889 (43.0%) | 0.00 | 63 |
2024-01-01 | $149,825 (14.5%) | $272,698 (52.0%) | 0.00 | 61 |
2024-02-01 | $154,175 (22.2%) | $301,369 (69.5%) | 0.00 | 58 |
2024-03-01 | $155,000 (5.7%) | $319,853 (59.0%) | 0.00 | 52 |
2024-04-01 | $149,950 (2.0%) | $331,751 (53.9%) | 0.00 | 52 |
2024-05-01 | $185,000 (41.1%) | $350,441 (82.3%) | 0.00 | 60 |
2024-06-01 | $209,500 (68.0%) | $373,790 (134.7%) | 0.00 | 62 |
2024-07-01 | $187,000 (54.0%) | $357,533 (121.3%) | 0.00 | 72 |
2024-08-01 | $159,900 (17.1%) | $314,573 (95.7%) | 0.00 | 82 |
2024-09-01 | $169,700 (25.7%) | $290,730 (66.4%) | 0.00 | 87 |
Miami's median listing price comes in at 0% of the national average.
Miami's average listing price for 2024-09-01 was $290,730, a difference of $115,997 (66.4%) versus the prior year and $-23,843 versus the prior month.
For the 2024-09-01 period, Miami had 87 MLS listings, a difference of 5 listings (6%) versus the prior month and 33 listings (61%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Miami (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,421 sqft |
2018-02-01 | 0 days | 1,416 sqft |
2018-03-01 | 0 days | 1,434 sqft |
2018-04-01 | 0 days | 1,404 sqft |
2018-05-01 | 0 days | 1,426 sqft |
2018-06-01 | 0 days | 1,450 sqft |
2018-07-01 | 0 days | 1,475 sqft |
2018-08-01 | 0 days | 1,479 sqft |
2018-09-01 | 0 days | 1,492 sqft |
2018-10-01 | 0 days | 1,477 sqft |
2018-11-01 | 0 days | 1,484 sqft |
2018-12-01 | 0 days | 1,468 sqft |
2019-01-01 | 0 days | 1,443 sqft |
2019-02-01 | 0 days | 1,484 sqft |
2019-03-01 | 0 days | 1,561 sqft |
2019-04-01 | 0 days | 1,544 sqft |
2019-05-01 | 0 days | 1,599 sqft |
2019-06-01 | 0 days | 1,600 sqft |
2019-07-01 | 0 days | 1,600 sqft |
2019-08-01 | 0 days | 1,565 sqft |
2019-09-01 | 0 days | 1,513 sqft |
2019-10-01 | 0 days | 1,478 sqft |
2019-11-01 | 0 days | 1,465 sqft |
2019-12-01 | 0 days | 1,459 sqft |
2020-01-01 | 0 days | 1,433 sqft |
2020-02-01 | 0 days | 1,381 sqft |
2020-03-01 | 0 days | 1,366 sqft |
2020-04-01 | 0 days | 1,398 sqft |
2020-05-01 | 0 days | 1,422 sqft |
2020-06-01 | 0 days | 1,437 sqft |
2020-07-01 | 0 days | 1,410 sqft |
2020-08-01 | 0 days | 1,521 sqft |
2020-09-01 | 0 days | 1,588 sqft |
2020-10-01 | 0 days | 1,498 sqft |
2020-11-01 | 0 days | 1,598 sqft |
2020-12-01 | 0 days | 1,595 sqft |
2021-01-01 | 0 days | 1,483 sqft |
2021-02-01 | 0 days | 1,413 sqft |
2021-03-01 | 0 days | 1,448 sqft |
2021-04-01 | 0 days | 1,390 sqft |
2021-05-01 | 0 days | 1,299 sqft |
2021-06-01 | 0 days | 1,232 sqft |
2021-07-01 | 0 days | 1,344 sqft |
2021-08-01 | 0 days | 1,423 sqft |
2021-09-01 | 0 days | 1,349 sqft |
2021-10-01 | 0 days | 1,350 sqft |
2021-11-01 | 0 days | 1,435 sqft |
2021-12-01 | 0 days | 1,389 sqft |
2022-01-01 | 0 days | 1,430 sqft |
2022-02-01 | 0 days | 1,440 sqft |
2022-03-01 | 0 days | 1,350 sqft |
2022-04-01 | 0 days | 1,346 sqft |
2022-05-01 | 0 days | 1,344 sqft |
2022-06-01 | 0 days | 1,544 sqft |
2022-07-01 | 0 days | 1,620 sqft |
2022-08-01 | 0 days | 1,623 sqft |
2022-09-01 | 0 days | 1,606 sqft |
2022-10-01 | 0 days | 1,682 sqft |
2022-11-01 | 0 days | 1,627 sqft |
2022-12-01 | 0 days | 1,591 sqft |
2023-01-01 | 0 days | 1,583 sqft |
2023-02-01 | 0 days | 1,573 sqft |
2023-03-01 | 0 days | 1,558 sqft |
2023-04-01 | 0 days | 1,422 sqft |
2023-05-01 | 0 days | 1,355 sqft |
2023-06-01 | 0 days | 1,308 sqft |
2023-07-01 | 0 days | 1,338 sqft |
2023-08-01 | 0 days | 1,389 sqft |
2023-09-01 | 0 days | 1,402 sqft |
2023-10-01 | 0 days | 1,476 sqft |
2023-11-01 | 0 days | 1,495 sqft |
2023-12-01 | 0 days | 1,510 sqft |
2024-01-01 | 0 days | 1,511 sqft |
2024-02-01 | 0 days | 1,497 sqft |
2024-03-01 | 0 days | 1,650 sqft |
2024-04-01 | 0 days | 1,657 sqft |
2024-05-01 | 0 days | 1,682 sqft |
2024-06-01 | 0 days | 1,764 sqft |
2024-07-01 | 0 days | 1,715 sqft |
2024-08-01 | 0 days | 1,632 sqft |
2024-09-01 | 0 days | 1,600 sqft |
Miami's median square footage for active listings during the 2024-09-01 period was 1,600 sqft. One year prior, the average listing was 1,402 sqft.
Miami, OK Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 218 | $32,880,000 | $150,826 |
Cash Out Refi | 35 | $4,645,000 | $132,714 |
Other | 19 | $1,285,000 | $67,632 |
Refi | 18 | $2,870,000 | $159,444 |
Home Improvement | 17 | $5,455,000 | $320,882 |
Miami's most frequently cited loan purpose was Home Purchase, with 218 originations. The 2nd most popular reason was Cash Out Refi, with 35 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 117 | $15,625,000 | $133,547 |
7-8% | 101 | $18,375,000 | $181,931 |
Over 8% | 39 | $3,995,000 | $102,436 |
5-6% | 28 | $4,590,000 | $163,929 |
4-5% | 4 | $530,000 | $132,500 |
During 2023, Miami's most frequently originated rate bucket was 6-7%, with 117 originations.
Loan Sizing (Miami, OK MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 128 | $8,260,000 | $64,531 |
$100k-200k | 124 | $17,730,000 | $142,984 |
$200k-400k | 49 | $12,895,000 | $263,163 |
$400k-600k | 3 | $1,315,000 | $438,333 |
$Over $1MM | 2 | $6,180,000 | $3,090,000 |
$600k-1000k | 1 | $755,000 | $755,000 |
Miami's loan sizing saw the bucket of loans from $100,000 or less with 128 originations, totaling $8,260,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 169 | $25,525,000 | $151,036 |
60-80% | 56 | $7,780,000 | $138,929 |
40-60% | 23 | $2,265,000 | $98,478 |
20-40% | 22 | $1,200,000 | $54,545 |
Over 100% | 8 | $1,360,000 | $170,000 |
Under 20% | 8 | $360,000 | $45,000 |
Miami's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 169 originations, totaling $25,525,000 in origination value.