Mineral Wells Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Mineral Wells averaged
7.15%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.98% and
one month ago for the week of 2024-10-03, the
average rate was 6.38%.
Mineral Wells's average rate one year ago was 7.92%.
For refis of the same type during the week of 2024-11-07, the average rate
was 6.99%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Mineral Wells 30 Year Fixed Rate | 2024-11-07 | 7.15% |
| Mineral Wells 30 Year Fixed Rate Refi | 2024-11-07 | 6.99% |
| Mineral Wells 15 Year Fixed Rate | 2024-11-07 | 5.8% |
| Mineral Wells 15 Year Fixed Rate Refi | 2024-11-07 | 6.6% |
| Mineral Wells 30 Year FHA | 2024-11-07 | 6.21% |
| Mineral Wells 30 Year FHA Refi | 2024-11-07 | 6.23% |
| Mineral Wells 30 Year USDA | 2024-11-07 | 6.68% |
| Mineral Wells 30 Year USDA Refi | 2024-11-07 | 6.68% |
| Mineral Wells 30 Year VA | 2024-11-07 | 6.54% |
| Mineral Wells 30 Year VA Refi | 2024-11-07 | 6.14% |
Mineral Wells 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 Mineral Wells, TX 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.).
Mineral Wells Average Closing Costs & Other Stats
Mineral Wells, TX's 84 lenders originated 577
loans during 2023. The total origination value was $181,605,000, with an average loan value of
$314,740.
Mineral Wells's average closing costs are $6,630.
The top Mineral Wells lender as defined by loan originations is First Financial Bank, with
22 loans originated. Their average total fees are
$6,074, which is $1,298
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Mineral Wells lenders (with over 10 loans originated) are
First Financial Bank ($6,074), QUICKEN LOANS, LLC ($7,372), UNITED WHOLESALE MORTGAGE, LLC ($14,843), .
The lowest rate Mineral Wells lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (6.80%), First Financial Bank (6.96%), QUICKEN LOANS, LLC (7.20%), .
Mineral Wells, TX 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 |
|---|---|---|---|---|
| First Financial Bank | $34,885,000 | $22,630,000 | -35.1% | 12.5% |
| UNITED WHOLESALE MORTGAGE, LLC | $3,255,000 | $8,555,000 | 162.8% | 4.7% |
| The First National Bank of Albany | $1,645,000 | $5,260,000 | 219.8% | 2.9% |
| Prosperity Bank | $5,590,000 | $4,600,000 | -17.7% | 2.5% |
| Wells Fargo Bank | $980,000 | $4,570,000 | 366.3% | 2.5% |
| QUICKEN LOANS, LLC | $8,915,000 | $3,865,000 | -56.6% | 2.1% |
| First United Bank and Trust Company | $5,695,000 | $3,370,000 | -40.8% | 1.9% |
| Flagstar Bank, FSB | $3,340,000 | n/a | 1.8% | |
| InterBank | $1,070,000 | $3,270,000 | 205.6% | 1.8% |
| Mortgage Research Center, LLC | $1,390,000 | $3,095,000 | 122.7% | 1.7% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $3,725,000 | $3,085,000 | -17.2% | 1.7% |
| 21ST MORTGAGE CORPORATION | $4,440,000 | $2,695,000 | -39.3% | 1.5% |
| Community National Bank & Trust of Texas | $3,680,000 | $2,640,000 | -28.3% | 1.5% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $5,275,000 | $2,625,000 | -50.2% | 1.4% |
| JPMorgan Chase Bank | $6,080,000 | $2,605,000 | -57.2% | 1.4% |
| GUILD MORTGAGE COMPANY | $6,325,000 | $2,585,000 | -59.1% | 1.4% |
| PlainsCapital Bank | $2,370,000 | $2,390,000 | 0.8% | 1.3% |
| City Bank | $3,340,000 | $2,380,000 | -28.7% | 1.3% |
| Frost Bank | $60,000 | $2,345,000 | 3,808.3% | 1.3% |
| CARDINAL FINANCIAL | $2,930,000 | $2,045,000 | -30.2% | 1.1% |
| Simmons Bank | $300,000 | $1,990,000 | 563.3% | 1.1% |
| Truist | $2,765,000 | $1,925,000 | -30.4% | 1.1% |
| LOANDEPOT.COM, LLC | $2,185,000 | $1,915,000 | -12.4% | 1.1% |
| CMG MORTGAGE, INC. | $1,520,000 | $1,880,000 | 23.7% | 1.0% |
| Magnolia Bank | $2,500,000 | $1,850,000 | -26.0% | 1.0% |
| First United Bank | $3,185,000 | $1,760,000 | -44.7% | 1.0% |
| UNION SQUARE | $1,720,000 | n/a | 0.9% | |
| Gateway First Bank | $5,070,000 | $1,670,000 | -67.1% | 0.9% |
| Round Top State Bank | $1,645,000 | n/a | 0.9% | |
| LONE STAR STATE BANK | $1,555,000 | n/a | 0.9% | |
| SFMC, LP | $2,765,000 | $1,530,000 | -44.7% | 0.8% |
| American Airlines Federal Credit Union | $35,000 | $1,510,000 | 4,214.3% | 0.8% |
| Commercial Bank of Texas | $500,000 | $1,510,000 | 202.0% | 0.8% |
| Southside Bank | $555,000 | $1,510,000 | 172.1% | 0.8% |
| Security State Bank & Trust | $145,000 | $1,505,000 | 937.9% | 0.8% |
| Bank of America | $825,000 | $1,485,000 | 80.0% | 0.8% |
| EECU | $1,165,000 | $1,465,000 | 25.8% | 0.8% |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $1,460,000 | n/a | 0.8% | |
| Centennial Bank | $870,000 | $1,445,000 | 66.1% | 0.8% |
| HOMEXPRESS MORTGAGE CORP. | $1,440,000 | n/a | 0.8% | |
| PENNYMAC LOAN SERVICES, LLC | $1,720,000 | $1,415,000 | -17.7% | 0.8% |
| Veritex Community Bank | $365,000 | $1,415,000 | 287.7% | 0.8% |
| American Bank of Commerce | $1,385,000 | n/a | 0.8% | |
| Ciera Bank | $290,000 | $1,330,000 | 358.6% | 0.7% |
| Worthington National Bank | $1,305,000 | n/a | 0.7% | |
| BOKF | $415,000 | $1,285,000 | 209.6% | 0.7% |
| Bank of England | $1,240,000 | $1,260,000 | 1.6% | 0.7% |
| West Texas National Bank | $1,205,000 | n/a | 0.7% | |
| THRIVE MORTGAGE, LLC | $125,000 | $1,070,000 | 756.0% | 0.6% |
| First Bank | $3,620,000 | $1,030,000 | -71.5% | 0.6% |
| MEMBER FIRST MORTGAGE, LLC | $285,000 | $1,005,000 | 252.6% | 0.6% |
| Morgan Stanley Private Bank | $2,485,000 | $1,005,000 | -59.6% | 0.6% |
| UNION HOME MORTGAGE CORP. | $1,000,000 | n/a | 0.6% | |
| Washington Federal Bank | $955,000 | n/a | 0.5% | |
| The American National Bank of Texas | $915,000 | n/a | 0.5% | |
| Plains Commerce Bank | $875,000 | n/a | 0.5% | |
| Colonial Savings, F.A. | $1,790,000 | $850,000 | -52.5% | 0.5% |
| NEWREZ LLC | $655,000 | $830,000 | 26.7% | 0.5% |
| DEEPHAVEN MORTGAGE LLC | $825,000 | n/a | 0.5% | |
| Paramount Residential Mortgage Group, Inc. | $370,000 | $805,000 | 117.6% | 0.4% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $245,000 | $790,000 | 222.4% | 0.4% |
| R Bank | $765,000 | n/a | 0.4% | |
| AMCAP MORTGAGE, LTD. | $1,945,000 | $755,000 | -61.2% | 0.4% |
| Network Funding, L.P. | $340,000 | $755,000 | 122.1% | 0.4% |
| RF Renovo Management Company, LLC | $725,000 | n/a | 0.4% | |
| SOUTHWEST STAGE FUNDING, LLC | $675,000 | $680,000 | 0.7% | 0.4% |
| UNITED BUILT HOMES, L.L.C. | $1,720,000 | $670,000 | -61.0% | 0.4% |
| EVERETT FINANCIAL, INC. | $1,520,000 | $665,000 | -56.3% | 0.4% |
| PACIFIC RESIDENTIAL MORTGAGE, LLC | $665,000 | n/a | 0.4% | |
| Town Square Mortgage & Investments, Inc. | $665,000 | $665,000 | 0.0% | 0.4% |
| American National Bank & Trust | $955,000 | $645,000 | -32.5% | 0.4% |
| Commerce Home Mortgage, Inc. | $635,000 | n/a | 0.3% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $1,980,000 | $625,000 | -68.4% | 0.3% |
| CROSSCOUNTRY MORTGAGE, LLC | $670,000 | $620,000 | -7.5% | 0.3% |
| Trinity Oaks Mortgage, LLC | $610,000 | n/a | 0.3% | |
| GUARANTEED RATE, INC. | $1,760,000 | $605,000 | -65.6% | 0.3% |
| SECURITY SERVICE | $605,000 | n/a | 0.3% | |
| NAVY FEDERAL CREDIT UNION | $980,000 | $600,000 | -38.8% | 0.3% |
| Farmers Bank & Trust Company | $585,000 | n/a | 0.3% | |
| First State Bank | $565,000 | n/a | 0.3% | |
| Farm Credit Mid-America, ACA | $405,000 | $555,000 | 37.0% | 0.3% |
| LAKEVIEW LOAN SERVICING, LLC | $165,000 | $555,000 | 236.4% | 0.3% |
| FIRST NATIONAL BANK OF WEATHERFORD | $1,735,000 | $545,000 | -68.6% | 0.3% |
| Texas Mortgage Lending, LLC | $505,000 | n/a | 0.3% | |
| COUNTRYPLACE MORTGAGE, LTD. | $790,000 | $500,000 | -36.7% | 0.3% |
| MORTGAGE FINANCIAL SERVICES, LLC | $345,000 | $470,000 | 36.2% | 0.3% |
| FREEDOM MORTGAGE CORPORATION | $950,000 | $465,000 | -51.1% | 0.3% |
| V.I.P. MORTGAGE, INC. | $1,560,000 | $460,000 | -70.5% | 0.3% |
| Discover Bank | $455,000 | n/a | 0.3% | |
| BROKER SOLUTIONS, INC. | $1,375,000 | $450,000 | -67.3% | 0.2% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $515,000 | $450,000 | -12.6% | 0.2% |
| Affiliated Bank | $2,830,000 | $445,000 | -84.3% | 0.2% |
| First National Bank | $2,215,000 | $435,000 | -80.4% | 0.2% |
| NATIONS RELIABLE LENDING, LLC | $355,000 | $435,000 | 22.5% | 0.2% |
| The First National Bank of Granbury | $295,000 | $425,000 | 44.1% | 0.2% |
| Mr. Cooper ( Nationstar Mortgage ) | $1,780,000 | $420,000 | -76.4% | 0.2% |
| USAA Federal Savings Bank | $390,000 | $415,000 | 6.4% | 0.2% |
| Neighborhood Loans, Inc. | $400,000 | n/a | 0.2% | |
| FIRST COMMUNITY MORTGAGE, INC. | $425,000 | $395,000 | -7.1% | 0.2% |
| Encompass Lending Group, LP | $315,000 | $390,000 | 23.8% | 0.2% |
| Farmers Bank & Trust | $385,000 | n/a | 0.2% | |
| RADIUS FINANCIAL GROUP INC. | $385,000 | n/a | 0.2% | |
| FirstBank | $75,000 | $370,000 | 393.3% | 0.2% |
| Citibank | $1,275,000 | $355,000 | -72.2% | 0.2% |
| LOANPAL, LLC | $480,000 | $350,000 | -27.1% | 0.2% |
| TRIAD FINANCIAL SERVICES, INC. | $350,000 | n/a | 0.2% | |
| Citizens Bank | $345,000 | n/a | 0.2% | |
| Pinnacle Bank | $530,000 | $345,000 | -34.9% | 0.2% |
| Waggoner National Bank | $345,000 | n/a | 0.2% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $325,000 | n/a | 0.2% | |
| Equity Prime Mortgage LLC | $570,000 | $325,000 | -43.0% | 0.2% |
| LOANPEOPLE, LLC | $1,025,000 | $315,000 | -69.3% | 0.2% |
| NATIONS DIRECT MORTGAGE, LLC | $315,000 | n/a | 0.2% | |
| NexBank | $885,000 | $315,000 | -64.4% | 0.2% |
| SWBC MORTGAGE CORPORATION | $695,000 | $305,000 | -56.1% | 0.2% |
| Citizens State Bank | $295,000 | n/a | 0.2% | |
| TEXOMA COMMUNITY CREDIT UNION | $285,000 | n/a | 0.2% | |
| CHURCHILL MORTGAGE CORPORATION | $145,000 | $280,000 | 93.1% | 0.2% |
| MOVEMENT MORTGAGE, LLC | $545,000 | $270,000 | -50.5% | 0.1% |
| CALCON MUTUAL MORTGAGE LLC | $265,000 | n/a | 0.1% | |
| GARDNER FINANCIAL SERVICES, LTD. | $265,000 | n/a | 0.1% | |
| SECURITYNATIONAL MORTGAGE COMPANY | $720,000 | $265,000 | -63.2% | 0.1% |
| ZILLOW HOME LOANS, LLC | $265,000 | n/a | 0.1% | |
| Guaranty Bank & Trust, N.A. | $365,000 | $255,000 | -30.1% | 0.1% |
| SUCCESS MORTGAGE PARTNERS, INC. | $255,000 | n/a | 0.1% | |
| TEXAS TRUST | $255,000 | n/a | 0.1% | |
| LENDINGHOME FUNDING CORPORATION | $245,000 | n/a | 0.1% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $445,000 | $235,000 | -47.2% | 0.1% |
| Prosperity Home Mortgage, LLC | $560,000 | $235,000 | -58.0% | 0.1% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $210,000 | $230,000 | 9.5% | 0.1% |
| AMERICAN FINANCIAL NETWORK, INC. | $225,000 | n/a | 0.1% | |
| Midwest Mortgage Associates Corporation | $225,000 | n/a | 0.1% | |
| MICHIGAN MUTUAL, INC. | $215,000 | n/a | 0.1% | |
| NFM, INC. | $185,000 | $205,000 | 10.8% | 0.1% |
| FORT WORTH COMMUNITY | $275,000 | $200,000 | -27.3% | 0.1% |
| AMERICAN PORTFOLIO MORTGAGE CORPORATION | $195,000 | n/a | 0.1% | |
| PNC Bank | $235,000 | $190,000 | -19.1% | 0.1% |
| ALAMEDA MORTGAGE CORPORATION | $185,000 | n/a | 0.1% | |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $135,000 | $185,000 | 37.0% | 0.1% |
| FIRST CENTENNIAL MORTGAGE CORPORATION | $185,000 | $185,000 | 0.0% | 0.1% |
| OPEN MORTGAGE, LLC | $185,000 | n/a | 0.1% | |
| A&D Mortgage LLC | $175,000 | n/a | 0.1% | |
| RANDOLPH-BROOKS | $1,560,000 | $170,000 | -89.1% | 0.1% |
| The Federal Savings Bank | $165,000 | n/a | 0.1% | |
| Waterstone Mortgage Corporation | $535,000 | $165,000 | -69.2% | 0.1% |
| ALTRA | $155,000 | n/a | 0.1% | |
| GUARANTEED RATE AFFINITY, LLC | $245,000 | $155,000 | -36.7% | 0.1% |
| PLAZA HOME MORTGAGE, INC. | $245,000 | $155,000 | -36.7% | 0.1% |
| ACADEMY MORTGAGE CORPORATION | $155,000 | $135,000 | -12.9% | 0.1% |
| CITY FIRST MORTGAGE SERVICES, L.L.C. | $125,000 | n/a | 0.1% | |
| OCMBC, INC. | $125,000 | n/a | 0.1% | |
| Brighton Bank | $95,000 | n/a | 0.1% | |
| CORNERSTONE HOME LENDING, INC. | $95,000 | n/a | 0.1% | |
| Operating Engineers Local Union #3 | $85,000 | n/a | 0.0% | |
| International Bank of Commerce | $255,000 | $75,000 | -70.6% | 0.0% |
| PLANET HOME LENDING, LLC | $275,000 | $45,000 | -83.6% | 0.0% |
Mineral Wells's top lender by overall market share is First Financial Bank, with 12.5% market share. In second place, with 4.7%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $8,555,000 in loans. In third place, with 2.9%, is The First National Bank of Albany, having originated $5,260,000 in loans. In fourth place, with 2.5%, is Prosperity Bank, having originated $4,600,000 in loans. In fifth place, with 2.5%, is Wells Fargo Bank, having originated $4,570,000 in loans.
Mineral Wells, TX Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 381 | $133,895,000 | $351,430 |
| Home Improvement | 66 | $6,940,000 | $105,152 |
| Cash Out Refi | 51 | $16,505,000 | $323,627 |
| Refi | 43 | $16,315,000 | $379,419 |
| Other | 36 | $7,950,000 | $220,833 |
Mineral Wells's most frequently cited loan purpose was Home Purchase, with 381 originations. The 2nd most popular reason was Home Improvement, with 66 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 172 | $49,050,000 | $285,174 |
| 6-7% | 161 | $55,585,000 | $345,248 |
| Over 8% | 115 | $29,935,000 | $260,304 |
| 5-6% | 70 | $24,080,000 | $344,000 |
| 4-5% | 9 | $2,835,000 | $315,000 |
| <2.5% | 2 | $20,000 | $10,000 |
| 3-4% | 1 | $325,000 | $325,000 |
During 2023, Mineral Wells's most frequently originated rate bucket was 7-8%, with 172 originations.
Loan Sizing (Mineral Wells, TX MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 193 | $53,815,000 | $278,834 |
| $100k-200k | 165 | $24,565,000 | $148,879 |
| $100,000 or less | 101 | $6,675,000 | $66,089 |
| $400k-600k | 50 | $23,900,000 | $478,000 |
| $600k-1000k | 41 | $30,645,000 | $747,439 |
| $Over $1MM | 27 | $42,005,000 | $1,555,741 |
Mineral Wells's loan sizing saw the bucket of loans from $200k-400k with 193 originations, totaling $53,815,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 210 | $62,530,000 | $297,762 |
| 60-80% | 156 | $58,100,000 | $372,436 |
| 40-60% | 68 | $27,050,000 | $397,794 |
| 20-40% | 48 | $8,530,000 | $177,708 |
| Under 20% | 35 | $3,435,000 | $98,143 |
| Over 100% | 11 | $2,045,000 | $185,909 |
Mineral Wells's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 210 originations, totaling $62,530,000 in origination value.