Minden Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Minden averaged
7.4%
for the week of 2024-04-18, compared to the national average of
7.1% for the same period.
The average rate for the prior week (2024-04-11) was
6.88% and
one month ago for the week of 2024-03-14, the
average rate was 6.94%.
Minden's average rate one year ago was 6.67%.
For refis of the same type during the week of 2024-04-18, the average rate
was 7.2%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-04-18 | 7.1% |
| Minden 30 Year Fixed Rate | 2024-04-18 | 7.4% |
| Minden 30 Year Fixed Rate Refi | 2024-04-18 | 7.2% |
| Minden 15 Year Fixed Rate | 2024-04-18 | 6.49% |
| Minden 15 Year Fixed Rate Refi | 2024-04-18 | 6.79% |
| Minden 30 Year FHA | 2024-04-18 | 6.99% |
| Minden 30 Year FHA Refi | 2024-04-18 | 6.76% |
| Minden 30 Year USDA | 2024-04-18 | 6.66% |
| Minden 30 Year USDA Refi | 2024-04-18 | 6.86% |
| Minden 30 Year VA | 2024-04-18 | 6.56% |
| Minden 30 Year VA Refi | 2024-04-18 | 6.66% |
Minden 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 Minden, LA 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.).
Minden Average Closing Costs & Other Stats
Minden, LA's 34 lenders originated 508
loans during 2023. The total origination value was $73,750,000, with an average loan value of
$145,177.
Minden's average closing costs are $4,960.
The top Minden lender as defined by loan originations is UNION HOME MORTGAGE CORP., with
13 loans originated. Their average total fees are
$2,881, which is $763
lower than the next largest lender,
Home Federal Bank.
The lowest fee Minden lenders (with over 10 loans originated) are
UNION HOME MORTGAGE CORP. ($2,881), Home Federal Bank ($3,644), .
The lowest rate Minden lenders (with over 10 loans originated) are
Home Federal Bank (5.98%), UNION HOME MORTGAGE CORP. (7.29%), .
Minden, LA 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 |
|---|---|---|---|---|
| b1BANK | $7,325,000 | $7,570,000 | 3.3% | 10.3% |
| UNION HOME MORTGAGE CORP. | $595,000 | $6,070,000 | 920.2% | 8.2% |
| Home Federal Bank | $11,865,000 | $4,620,000 | -61.1% | 6.3% |
| Gibsland Bank & Trust Company | $4,075,000 | $4,220,000 | 3.6% | 5.7% |
| Citizens Bank & Trust Company of Vivian, Louisiana | $2,340,000 | $3,810,000 | 62.8% | 5.2% |
| 21ST MORTGAGE CORPORATION | $4,055,000 | $3,375,000 | -16.8% | 4.6% |
| QUICKEN LOANS, LLC | $5,785,000 | $2,765,000 | -52.2% | 3.7% |
| EUSTIS AND AMERICAN MORTGAGE COMPANY | $3,510,000 | $2,760,000 | -21.4% | 3.7% |
| UNITED WHOLESALE MORTGAGE, LLC | $2,715,000 | $2,165,000 | -20.3% | 2.9% |
| GMFS LLC | $1,105,000 | $2,095,000 | 89.6% | 2.8% |
| Citizens National Bank, N.A. | $4,330,000 | $1,855,000 | -57.2% | 2.5% |
| Regions Bank | $1,600,000 | $1,810,000 | 13.1% | 2.5% |
| BARKSDALE | $1,015,000 | $1,800,000 | 77.3% | 2.4% |
| DRAPER AND KRAMER MORTGAGE CORP. | $240,000 | $1,780,000 | 641.7% | 2.4% |
| Mortgage Research Center, LLC | $915,000 | $1,655,000 | 80.9% | 2.2% |
| FIDELITY BANK | $1,510,000 | $1,550,000 | 2.6% | 2.1% |
| HOMESTAR FINANCIAL CORPORATION | $185,000 | $1,510,000 | 716.2% | 2.0% |
| ANECA Federal Credit Union | $1,260,000 | n/a | 1.7% | |
| TRIAD FINANCIAL SERVICES, INC. | $2,285,000 | $1,060,000 | -53.6% | 1.4% |
| SENTE MORTGAGE, INC. | $275,000 | $950,000 | 245.5% | 1.3% |
| MOVEMENT MORTGAGE, LLC | $835,000 | $930,000 | 11.4% | 1.3% |
| Cross Keys Bank | $905,000 | n/a | 1.2% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $825,000 | $900,000 | 9.1% | 1.2% |
| CARTER FEDERAL CREDIT UNION | $1,035,000 | $895,000 | -13.5% | 1.2% |
| GUILD MORTGAGE COMPANY | $495,000 | $895,000 | 80.8% | 1.2% |
| NEWREZ LLC | $240,000 | $850,000 | 254.2% | 1.2% |
| Assurance Financial Group, L.L.C. | $610,000 | $815,000 | 33.6% | 1.1% |
| CARDINAL FINANCIAL | $310,000 | $760,000 | 145.2% | 1.0% |
| Gateway First Bank | $115,000 | $625,000 | 443.5% | 0.8% |
| Origin Bank | $960,000 | $600,000 | -37.5% | 0.8% |
| BancorpSouth | $685,000 | $555,000 | -19.0% | 0.8% |
| GUARANTEED RATE, INC. | $455,000 | $420,000 | -7.7% | 0.6% |
| PLANET HOME LENDING, LLC | $920,000 | $415,000 | -54.9% | 0.6% |
| BROKER SOLUTIONS, INC. | $215,000 | $410,000 | 90.7% | 0.6% |
| CALIBER HOME LOANS, INC. | $1,080,000 | $410,000 | -62.0% | 0.6% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $95,000 | $410,000 | 331.6% | 0.6% |
| CRESCENT MORTGAGE COMPANY | $4,390,000 | $395,000 | -91.0% | 0.5% |
| Community Bank of Louisiana | $140,000 | $355,000 | 153.6% | 0.5% |
| MEMBER ADVANTAGE MORTGAGE, LLC | $445,000 | $340,000 | -23.6% | 0.5% |
| CSL Financial, LLC | $75,000 | $335,000 | 346.7% | 0.5% |
| UNITED BUILT HOMES, L.L.C. | $570,000 | $335,000 | -41.2% | 0.5% |
| AMERISAVE MORTGAGE CORPORATION | $840,000 | $330,000 | -60.7% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $905,000 | $315,000 | -65.2% | 0.4% |
| Red River Bank | $995,000 | $315,000 | -68.3% | 0.4% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $305,000 | n/a | 0.4% | |
| VILLAGE CAPITAL MORTGAGE | $115,000 | $300,000 | 160.9% | 0.4% |
| Bossier Federal Credit Union | $265,000 | n/a | 0.4% | |
| CIS Financial Services, Inc. | $265,000 | n/a | 0.4% | |
| United Community Bank | $300,000 | $255,000 | -15.0% | 0.3% |
| Paramount Residential Mortgage Group, Inc. | $245,000 | n/a | 0.3% | |
| LOANDEPOT.COM, LLC | $1,330,000 | $235,000 | -82.3% | 0.3% |
| Equity Prime Mortgage LLC | $105,000 | $220,000 | 109.5% | 0.3% |
| Farmers Bank & Trust Company | $505,000 | $215,000 | -57.4% | 0.3% |
| Carrington Mortgage Services, LLC | $540,000 | $195,000 | -63.9% | 0.3% |
| NEW DAY FINANCIAL, LLC | $185,000 | n/a | 0.3% | |
| Prosperity Home Mortgage, LLC | $185,000 | n/a | 0.3% | |
| Bank of England | $175,000 | n/a | 0.2% | |
| NAVY FEDERAL CREDIT UNION | $1,030,000 | $170,000 | -83.5% | 0.2% |
| JPMorgan Chase Bank | $310,000 | $160,000 | -48.4% | 0.2% |
| ZILLOW HOME LOANS, LLC | $160,000 | n/a | 0.2% | |
| AMERICAN FINANCING CORPORATION | $105,000 | $135,000 | 28.6% | 0.2% |
| Discover Bank | $135,000 | n/a | 0.2% | |
| FirstTrust Home Loans, Inc. | $905,000 | $135,000 | -85.1% | 0.2% |
| RED RIVER EMPLOYEES | $135,000 | n/a | 0.2% | |
| U.S. Bank | $115,000 | n/a | 0.2% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $325,000 | $105,000 | -67.7% | 0.1% |
| BAYSHORE MORTGAGE FUNDING, LLC | $270,000 | $105,000 | -61.1% | 0.1% |
| Mr. Cooper ( Nationstar Mortgage ) | $220,000 | $105,000 | -52.3% | 0.1% |
| STANDARD MORTGAGE CORPORATION | $550,000 | $105,000 | -80.9% | 0.1% |
| First National Bank | $85,000 | n/a | 0.1% | |
| Nations Lending Corporation | $85,000 | n/a | 0.1% | |
| The Loan Store, Inc. | $85,000 | n/a | 0.1% | |
| BOM Bank | $435,000 | $65,000 | -85.1% | 0.1% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $55,000 | n/a | 0.1% | |
| FIRST COLONY MORTGAGE CORPORATION | $55,000 | n/a | 0.1% | |
| Century Next Bank | $45,000 | n/a | 0.1% |
Minden's top lender by overall market share is b1BANK, with 10.3% market share. In second place, with 8.2%, is UNION HOME MORTGAGE CORP., having originated $6,070,000 in loans. In third place, with 6.3%, is Home Federal Bank, having originated $4,620,000 in loans. In fourth place, with 5.7%, is Gibsland Bank & Trust Company, having originated $4,220,000 in loans. In fifth place, with 5.2%, is Citizens Bank & Trust Company of Vivian, Louisiana, having originated $3,810,000 in loans.
Minden, LA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 320 | $49,320,000 | $154,125 |
| Refi | 119 | $17,415,000 | $146,345 |
| Cash Out Refi | 35 | $4,845,000 | $138,429 |
| Home Improvement | 24 | $1,330,000 | $55,417 |
| Other | 10 | $840,000 | $84,000 |
Minden's most frequently cited loan purpose was Home Purchase, with 320 originations. The 2nd most popular reason was Refi, with 119 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 135 | $24,125,000 | $178,704 |
| Over 8% | 131 | $12,105,000 | $92,405 |
| 7-8% | 110 | $16,970,000 | $154,273 |
| 5-6% | 43 | $8,645,000 | $201,047 |
| 4-5% | 6 | $860,000 | $143,333 |
| <2.5% | 2 | $10,000 | $5,000 |
| 3-4% | 1 | $145,000 | $145,000 |
During 2023, Minden's most frequently originated rate bucket was 6-7%, with 135 originations.
Loan Sizing (Minden, LA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 200 | $11,840,000 | $59,200 |
| $100k-200k | 197 | $27,855,000 | $141,396 |
| $200k-400k | 93 | $24,545,000 | $263,925 |
| $400k-600k | 14 | $6,570,000 | $469,286 |
| $600k-1000k | 4 | $2,940,000 | $735,000 |
Minden's loan sizing saw the bucket of loans from $100,000 or less with 200 originations, totaling $11,840,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 236 | $38,280,000 | $162,203 |
| 60-80% | 103 | $15,965,000 | $155,000 |
| 40-60% | 36 | $3,720,000 | $103,333 |
| 20-40% | 27 | $1,775,000 | $65,741 |
| Under 20% | 11 | $325,000 | $29,545 |
| Over 100% | 5 | $855,000 | $171,000 |
Minden's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 236 originations, totaling $38,280,000 in origination value.