Miami Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Miami averaged 6.78% for the week of 2024-12-12, compared to the national average of 6.6% for the same period.

    The average rate for the prior week (2024-12-05) was 6.67% and one month ago for the week of 2024-11-07, the average rate was 6.97%.

    Miami's average rate one year ago was 7.21%.

    For refis of the same type during the week of 2024-12-12, the average rate was 6.8%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-12-12 6.6%
    Miami 30 Year Fixed Rate 2024-12-12 6.78%
    Miami 30 Year Fixed Rate Refi 2024-12-12 6.8%
    Miami 15 Year Fixed Rate 2024-12-12 5.84%
    Miami 15 Year Fixed Rate Refi 2024-12-12 6.24%
    Miami 30 Year FHA 2024-12-12 6.48%
    Miami 30 Year FHA Refi 2024-12-12 6.38%
    Miami 30 Year USDA 2024-12-12 6.3%
    Miami 30 Year USDA Refi 2024-12-12 6.4%
    Miami 30 Year VA 2024-12-12 6.28%
    Miami 30 Year VA Refi 2024-12-12 6.28%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Miami, OK.

    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.).

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Arvest Bank 35 6.88% $4,068
    FLAT BRANCH MORTGAGE, INC. 15 6.77% $3,627
    QUICKEN LOANS, LLC 5 6.29% $5,370
    Flagstar Bank, FSB 4 7.31% $4,562
    TTCU Federal Credit Union 3 6.88% $4,053
    Waterstone Mortgage Corporation 2 7.06% $8,012
    Mortgage Investment Services Corporation 2 7.13% $3,660
    BOKF 2 6.06% $6,052
    BROKER SOLUTIONS, INC. 2 6.81% $7,373
    Southwest Missouri Bank 2 8.85% $2,539
    Farm Credit Mid-America, ACA 2 7.25% $5,690
    FirstTrust Home Loans, Inc. 1 6.38% $4,647
    First United Bank and Trust Company 1 7.88% $5,112
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.75% $4,677
    International Bank of Commerce 1 6.13% $3,413
    JPMorgan Chase Bank 1 6.13% $5,083
    Mabrey Bank 1 10.18% $2,087
    NAVY FEDERAL CREDIT UNION 1 9.00% $2,900
    NEWREZ LLC 1 7.25% $3,304
    OPEN MORTGAGE, LLC 1 6.88% $4,672
    Pinnacle Bank 1 7.50% $3,691
    The Central Trust Bank 1 7.50% $3,861
    U.S. Bank 1 7.88% $3,308
    AMERICAN FINANCIAL NETWORK, INC. 1 7.63% $4,559
    ZILLOW HOME LOANS, LLC 1 7.13% $3,918
    AmeriHome Mortgage Company, LLC 1 7.38% $4,931
    Armstrong Bank 1 6.49% $6,001
    ASSOCIATED MORTGAGE CORPORATION 1 7.63% $4,522
    BancFirst 1 7.38% $3,599
    CoreFirst Bank & Trust 1 6.38% $2,382
    Eagle Bank and Trust Company 1 6.50% $2,759
    ENDEAVOR CAPITAL, LLC. 1 7.63% $11,650
    EVERETT FINANCIAL, INC. 1 6.50% $6,492
    First Bank 1 6.00% $4,273
    First Community Bank 1 5.88% $3,645

    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. Louis
    Date 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
    2024-10-01 $181,250 (20.3%) $296,726 (7.1%) 0.00 98
    2024-11-01 $166,150 (9.3%) $276,630 (-0.2%) 0.00 107
    Miami's median listing price for 2024-11-01 was $166,150, a difference of $14,150 (9.3%) versus the prior year and $-15,100 versus the prior month.

    Miami's median listing price comes in at 0% of the national average.

    Miami's average listing price for 2024-11-01 was $276,630, a difference of $-655 (-0.2%) versus the prior year and $-20,096 versus the prior month.

    For the 2024-11-01 period, Miami had 107 MLS listings, a difference of 9 listings (9%) versus the prior month and 45 listings (73%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Miami (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date 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
    2024-10-01 0 days 1,618 sqft
    2024-11-01 0 days 1,618 sqft
    Miami's median listing age (time on market) for 2024-11-01 was 0 days.

    Miami's median square footage for active listings during the 2024-11-01 period was 1,618 sqft. One year prior, the average listing was 1,495 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.