MOBILE Mortgage Rates & Closing Costs
30yr Fixed Rate
15yr Fixed Rate
FHA
USDA
VA
5/1 ARM
30 Year Fixed Rate mortgages in Mobile averaged
6.6%
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
6.83% and
one month ago for the week of 2024-10-03, the
average rate was 6.13%.
Mobile's average rate one year ago was 7.97%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.46%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Mobile 30 Year Fixed Rate | 2024-11-07 | 6.6% |
| Mobile 30 Year Fixed Rate Refi | 2024-11-07 | 7.46% |
| Mobile 15 Year Fixed Rate | 2024-11-07 | 6.41% |
| Mobile 15 Year Fixed Rate Refi | 2024-11-07 | 6.2% |
| Mobile 30 Year FHA | 2024-11-07 | 6.25% |
| Mobile 30 Year FHA Refi | 2024-11-07 | 6.53% |
| Mobile 30 Year USDA | 2024-11-07 | 5.92% |
| Mobile 30 Year USDA Refi | 2024-11-07 | 6.68% |
| Mobile 30 Year VA | 2024-11-07 | 6.24% |
| Mobile 30 Year VA Refi | 2024-11-07 | 6.34% |
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within MOBILE, AL.
MOBILE 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 MOBILE, AL 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.).
MOBILE Average Closing Costs & Other Stats
MOBILE, AL's 171 lenders originated 7,086
loans during 2023. The total origination value was $1,388,840,000, with an average loan value of
$195,998.
MOBILE's average closing costs are $4,682.
The top MOBILE lender as defined by loan originations is Trustmark National Bank, with
206 loans originated. Their average total fees are
$4,032, which is $1,986
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee MOBILE lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. ($1,688), SWBC MORTGAGE CORPORATION ($3,118), Hancock Whitney Bank ($3,197), Community Bank of Mississippi ($3,278) and Wells Fargo Bank ($3,330).
The lowest rate MOBILE lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.58%), New Horizons Credit Union (5.84%), Community Bank of Mississippi (6.12%), USAA Federal Savings Bank (6.22%) and PENNYMAC LOAN SERVICES, LLC (6.39%).
MOBILE, AL 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 |
|---|---|---|---|---|
| Trustmark National Bank | $144,800,000 | $87,895,000 | -39.3% | 6.3% |
| DHI MORTGAGE COMPANY, LTD. | $78,365,000 | $84,380,000 | 7.7% | 6.1% |
| QUICKEN LOANS, LLC | $105,070,000 | $74,065,000 | -29.5% | 5.3% |
| Regions Bank | $82,940,000 | $61,535,000 | -25.8% | 4.4% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $80,185,000 | $49,600,000 | -38.1% | 3.6% |
| BancorpSouth | $72,645,000 | $45,270,000 | -37.7% | 3.3% |
| River Bank & Trust | $31,760,000 | $44,055,000 | 38.7% | 3.2% |
| UNITED WHOLESALE MORTGAGE, LLC | $50,170,000 | $41,395,000 | -17.5% | 3.0% |
| EMBRACE HOME LOANS, INC. | $54,545,000 | $39,640,000 | -27.3% | 2.9% |
| PNC Bank | $44,260,000 | $31,775,000 | -28.2% | 2.3% |
| Mortgage Research Center, LLC | $40,535,000 | $31,670,000 | -21.9% | 2.3% |
| GMFS LLC | $47,370,000 | $29,495,000 | -37.7% | 2.1% |
| Renasant Bank | $34,625,000 | $26,890,000 | -22.3% | 1.9% |
| Hancock Whitney Bank | $27,485,000 | $24,860,000 | -9.6% | 1.8% |
| Community Bank of Mississippi | $29,530,000 | $23,970,000 | -18.8% | 1.7% |
| ServisFirst Bank | $23,640,000 | $23,375,000 | -1.1% | 1.7% |
| Arbor Realty Trust, Inc. | $8,330,000 | $21,005,000 | 152.2% | 1.5% |
| Century Bank | $8,930,000 | $20,430,000 | 128.8% | 1.5% |
| First Horizon Bank | $43,910,000 | $19,270,000 | -56.1% | 1.4% |
| SWBC MORTGAGE CORPORATION | $19,010,000 | $18,290,000 | -3.8% | 1.3% |
| NAVY FEDERAL CREDIT UNION | $19,700,000 | $18,025,000 | -8.5% | 1.3% |
| First Federal Bank, A FSB | $18,460,000 | $17,615,000 | -4.6% | 1.3% |
| BankPlus | $8,620,000 | $17,100,000 | 98.4% | 1.2% |
| FirstBank | $10,205,000 | $15,405,000 | 51.0% | 1.1% |
| The First, A National Banking Association | $48,025,000 | $14,475,000 | -69.9% | 1.0% |
| UNION HOME MORTGAGE CORP. | $3,480,000 | $14,020,000 | 302.9% | 1.0% |
| ALL IN | $14,930,000 | $13,505,000 | -9.5% | 1.0% |
| Plains Commerce Bank | $385,000 | $12,060,000 | 3,032.5% | 0.9% |
| PENNYMAC LOAN SERVICES, LLC | $20,960,000 | $11,905,000 | -43.2% | 0.9% |
| CARDINAL FINANCIAL | $13,385,000 | $11,370,000 | -15.1% | 0.8% |
| Bank of England | $16,190,000 | $11,355,000 | -29.9% | 0.8% |
| DIRECT MORTGAGE LOANS, LLC | $17,435,000 | $10,875,000 | -37.6% | 0.8% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $1,135,000 | $9,580,000 | 744.1% | 0.7% |
| FREEDOM MORTGAGE CORPORATION | $19,530,000 | $9,250,000 | -52.6% | 0.7% |
| Wells Fargo Bank | $23,685,000 | $9,085,000 | -61.6% | 0.7% |
| 21ST MORTGAGE CORPORATION | $5,860,000 | $8,845,000 | 50.9% | 0.6% |
| Flagstar Bank, FSB | $8,705,000 | $8,775,000 | 0.8% | 0.6% |
| Prosperity Home Mortgage, LLC | $6,970,000 | $8,495,000 | 21.9% | 0.6% |
| Tyndall Federal Credit Union | $7,445,000 | $8,330,000 | 11.9% | 0.6% |
| BERKELEY POINT CAPITAL LLC | $8,025,000 | n/a | 0.6% | |
| New Horizons Credit Union | $11,270,000 | $7,860,000 | -30.3% | 0.6% |
| USAA Federal Savings Bank | $10,240,000 | $7,320,000 | -28.5% | 0.5% |
| HOMETRUST MORTGAGE COMPANY | $12,085,000 | $6,575,000 | -45.6% | 0.5% |
| MOVEMENT MORTGAGE, LLC | $11,675,000 | $6,500,000 | -44.3% | 0.5% |
| PACIFIC RESIDENTIAL MORTGAGE, LLC | $9,045,000 | $6,410,000 | -29.1% | 0.5% |
| LOANDEPOT.COM, LLC | $18,865,000 | $6,355,000 | -66.3% | 0.5% |
| STOCKTON MORTGAGE CORPORATION | $255,000 | $6,075,000 | 2,282.4% | 0.4% |
| BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC | $14,805,000 | $6,005,000 | -59.4% | 0.4% |
| Mr. Cooper ( Nationstar Mortgage ) | $17,135,000 | $5,935,000 | -65.4% | 0.4% |
| GUARANTEED RATE, INC. | $3,450,000 | $5,700,000 | 65.2% | 0.4% |
| CBRE MULTIFAMILY CAPITAL, INC. | $5,685,000 | n/a | 0.4% | |
| AMERISAVE MORTGAGE CORPORATION | $11,480,000 | $5,515,000 | -52.0% | 0.4% |
| NEWREZ LLC | $5,955,000 | $5,495,000 | -7.7% | 0.4% |
| Synovus Bank | $6,525,000 | $5,435,000 | -16.7% | 0.4% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $5,625,000 | $5,390,000 | -4.2% | 0.4% |
| CROSSCOUNTRY MORTGAGE, LLC | $10,370,000 | $5,240,000 | -49.5% | 0.4% |
| KEESLER | $7,445,000 | $4,855,000 | -34.8% | 0.3% |
| CMG MORTGAGE, INC. | $10,990,000 | $4,725,000 | -57.0% | 0.3% |
| JPMorgan Chase Bank | $9,445,000 | $4,655,000 | -50.7% | 0.3% |
| AMERICA'S FIRST | $5,295,000 | $4,620,000 | -12.7% | 0.3% |
| BROKER SOLUTIONS, INC. | $7,285,000 | $4,605,000 | -36.8% | 0.3% |
| Truist | $8,720,000 | $4,470,000 | -48.7% | 0.3% |
| Morgan Stanley Private Bank | $5,875,000 | $4,450,000 | -24.3% | 0.3% |
| Bryant Bank | $3,630,000 | $4,240,000 | 16.8% | 0.3% |
| The Federal Savings Bank | $1,905,000 | $3,685,000 | 93.4% | 0.3% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $2,880,000 | $3,620,000 | 25.7% | 0.3% |
| Bank of America | $5,750,000 | $3,555,000 | -38.2% | 0.3% |
| U.S. Bank | $3,640,000 | $3,470,000 | -4.7% | 0.2% |
| FIRST COMMUNITY MORTGAGE, INC. | $14,660,000 | $3,375,000 | -77.0% | 0.2% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $655,000 | $3,355,000 | 412.2% | 0.2% |
| SmartBank | $5,350,000 | $3,335,000 | -37.7% | 0.2% |
| APCO EMPLOYEES | $4,125,000 | $3,290,000 | -20.2% | 0.2% |
| Presidential Bank, FSB | $7,915,000 | $3,250,000 | -58.9% | 0.2% |
| Discover Bank | $900,000 | $3,245,000 | 260.6% | 0.2% |
| NEW DAY FINANCIAL, LLC | $3,805,000 | $3,245,000 | -14.7% | 0.2% |
| NAVIGATOR CU | $3,255,000 | $3,215,000 | -1.2% | 0.2% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $3,540,000 | $3,070,000 | -13.3% | 0.2% |
| Equity Prime Mortgage LLC | $175,000 | $3,025,000 | 1,628.6% | 0.2% |
| LIMA ONE CAPITAL, LLC | $4,100,000 | $2,950,000 | -28.0% | 0.2% |
| CHEVRON | $2,990,000 | $2,775,000 | -7.2% | 0.2% |
| First Federal Savings and Loan Association | $3,900,000 | $2,755,000 | -29.4% | 0.2% |
| Carrington Mortgage Services, LLC | $3,825,000 | $2,605,000 | -31.9% | 0.2% |
| AVADIAN | $1,145,000 | $2,435,000 | 112.7% | 0.2% |
| LOANPAL, LLC | $1,370,000 | $2,420,000 | 76.6% | 0.2% |
| Stifel Bank and Trust | $800,000 | $2,380,000 | 197.5% | 0.2% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $1,930,000 | $2,275,000 | 17.9% | 0.2% |
| AMERICAN FINANCIAL NETWORK, INC. | $2,195,000 | n/a | 0.2% | |
| Paramount Residential Mortgage Group, Inc. | $3,430,000 | $2,185,000 | -36.3% | 0.2% |
| TRIAD FINANCIAL SERVICES, INC. | $2,415,000 | $2,160,000 | -10.6% | 0.2% |
| PENTAGON FEDERAL CREDIT UNION | $3,600,000 | $2,145,000 | -40.4% | 0.2% |
| MILEND, INC. | $470,000 | $2,135,000 | 354.3% | 0.2% |
| Princeton Mortgage Corporation | $685,000 | $2,135,000 | 211.7% | 0.2% |
| Merchants & Marine Bank | $1,805,000 | $1,980,000 | 9.7% | 0.1% |
| Assurance Financial Group, L.L.C. | $2,565,000 | $1,970,000 | -23.2% | 0.1% |
| NFM, INC. | $2,465,000 | $1,965,000 | -20.3% | 0.1% |
| LAKEVIEW LOAN SERVICING, LLC | $6,045,000 | $1,945,000 | -67.8% | 0.1% |
| FBC MORTGAGE, LLC | $1,935,000 | n/a | 0.1% | |
| THE MORTGAGE FIRM, INC. | $9,445,000 | $1,820,000 | -80.7% | 0.1% |
| LENDINGHOME FUNDING CORPORATION | $155,000 | $1,775,000 | 1,045.2% | 0.1% |
| PLANET HOME LENDING, LLC | $990,000 | $1,735,000 | 75.3% | 0.1% |
| RELIANCE FIRST CAPITAL, LLC | $1,665,000 | $1,705,000 | 2.4% | 0.1% |
| PHH Mortgage Corporation | $815,000 | $1,665,000 | 104.3% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $2,430,000 | $1,660,000 | -31.7% | 0.1% |
| Consumer First Mortgage, Inc. | $845,000 | $1,620,000 | 91.7% | 0.1% |
| The Citizens Bank | $1,535,000 | n/a | 0.1% | |
| ALABAMA CREDIT UNION | $1,165,000 | $1,525,000 | 30.9% | 0.1% |
| GUILD MORTGAGE COMPANY | $1,460,000 | $1,480,000 | 1.4% | 0.1% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $335,000 | $1,470,000 | 338.8% | 0.1% |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $1,465,000 | n/a | 0.1% | |
| VILLAGE CAPITAL MORTGAGE | $1,215,000 | $1,460,000 | 20.2% | 0.1% |
| United Community Bank | $795,000 | $1,415,000 | 78.0% | 0.1% |
| Citizens Bank | $2,960,000 | $1,405,000 | -52.5% | 0.1% |
| South State Bank | $1,885,000 | $1,350,000 | -28.4% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $1,095,000 | $1,320,000 | 20.5% | 0.1% |
| Ally Bank | $1,865,000 | $1,315,000 | -29.5% | 0.1% |
| ZILLOW HOME LOANS, LLC | $695,000 | $1,285,000 | 84.9% | 0.1% |
| ROYAL UNITED MORTGAGE LLC | $900,000 | $1,260,000 | 40.0% | 0.1% |
| AmeriHome Mortgage Company, LLC | $1,885,000 | $1,220,000 | -35.3% | 0.1% |
| AMCAP MORTGAGE, LTD. | $1,150,000 | n/a | 0.1% | |
| LENDSURE MORTGAGE CORP. | $1,305,000 | $1,150,000 | -11.9% | 0.1% |
| DEEPHAVEN MORTGAGE LLC | $315,000 | $1,145,000 | 263.5% | 0.1% |
| NBKC BANK | $1,170,000 | $1,145,000 | -2.1% | 0.1% |
| GUARANTEED RATE AFFINITY, LLC | $475,000 | $1,125,000 | 136.8% | 0.1% |
| RF Renovo Management Company, LLC | $1,125,000 | n/a | 0.1% | |
| OPEN MORTGAGE, LLC | $1,015,000 | $1,095,000 | 7.9% | 0.1% |
| HOMESTAR FINANCIAL CORPORATION | $3,775,000 | $1,085,000 | -71.3% | 0.1% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $165,000 | $1,070,000 | 548.5% | 0.1% |
| Figure Lending LLC | $1,065,000 | $1,045,000 | -1.9% | 0.1% |
| AMERIFIRST BANK | $1,040,000 | n/a | 0.1% | |
| SOUTHWEST STAGE FUNDING, LLC | $1,525,000 | $1,030,000 | -32.5% | 0.1% |
| BETTER MORTGAGE CORPORATION | $3,655,000 | $1,020,000 | -72.1% | 0.1% |
| HOMESTEAD FUNDING CORP. | $645,000 | $995,000 | 54.3% | 0.1% |
| SUN WEST MORTGAGE COMPANY, INC. | $1,025,000 | $985,000 | -3.9% | 0.1% |
| REDSTONE Federal Credit Union | $390,000 | $975,000 | 150.0% | 0.1% |
| CIS Financial Services, Inc. | $135,000 | $970,000 | 618.5% | 0.1% |
| University Bank | $955,000 | n/a | 0.1% | |
| Northeast Bank | $925,000 | n/a | 0.1% | |
| First-Citizens Bank & Trust Company | $890,000 | n/a | 0.1% | |
| The Huntington National Bank | $635,000 | $890,000 | 40.2% | 0.1% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $1,045,000 | $875,000 | -16.3% | 0.1% |
| LIBERTY HOME MORTGAGE CORPORATION | $340,000 | $860,000 | 152.9% | 0.1% |
| Commerce Home Mortgage, Inc. | $655,000 | $845,000 | 29.0% | 0.1% |
| FIDELITY BANK | $435,000 | $845,000 | 94.3% | 0.1% |
| Hamilton Mortgage Corporation | $145,000 | $820,000 | 465.5% | 0.1% |
| Ameris Bank | $790,000 | $780,000 | -1.3% | 0.1% |
| Stock Yards Bank & Trust Company | $755,000 | n/a | 0.1% | |
| BNC National Bank | $135,000 | $750,000 | 455.6% | 0.1% |
| Nations Lending Corporation | $2,570,000 | $745,000 | -71.0% | 0.1% |
| MORTGAGE INVESTORS GROUP, INC. | $2,030,000 | $725,000 | -64.3% | 0.1% |
| TOP FLITE FINANCIAL, INC. | $710,000 | n/a | 0.1% | |
| First State Bank Nebraska | $705,000 | n/a | 0.1% | |
| DOMINION FINANCIAL SERVICES, LLC | $480,000 | $695,000 | 44.8% | 0.1% |
| Coastal Community Bank | $690,000 | n/a | 0.0% | |
| KELLER MORTGAGE, LLC | $1,635,000 | $690,000 | -57.8% | 0.0% |
| AMERICAN INTERNET MORTGAGE, INC. | $370,000 | $670,000 | 81.1% | 0.0% |
| HOMESIDE FINANCIAL, LLC | $1,505,000 | $655,000 | -56.5% | 0.0% |
| Magnolia Bank | $635,000 | $655,000 | 3.1% | 0.0% |
| A&D Mortgage LLC | $215,000 | $650,000 | 202.3% | 0.0% |
| ARC HOME LLC | $320,000 | $645,000 | 101.6% | 0.0% |
| Goldwater Bank, N.A. | $175,000 | $635,000 | 262.9% | 0.0% |
| AMERICAN FINANCIAL RESOURCES, INC. | $520,000 | $600,000 | 15.4% | 0.0% |
| Alabama Central Credit Union | $2,095,000 | $585,000 | -72.1% | 0.0% |
| Waterstone Mortgage Corporation | $580,000 | n/a | 0.0% | |
| Alabama One Credit Union | $2,245,000 | $570,000 | -74.6% | 0.0% |
| COUNTRYPLACE MORTGAGE, LTD. | $55,000 | $555,000 | 909.1% | 0.0% |
| WesBanco | $545,000 | n/a | 0.0% | |
| BECKAM FUNDING CORP. | $385,000 | $540,000 | 40.3% | 0.0% |
| NATIONS DIRECT MORTGAGE, LLC | $240,000 | $530,000 | 120.8% | 0.0% |
| Gulf Winds Credit Union | $85,000 | $525,000 | 517.6% | 0.0% |
| Pinnacle Bank | $175,000 | $525,000 | 200.0% | 0.0% |
| SPRING EQ, LLC | $595,000 | $525,000 | -11.8% | 0.0% |
| BAYSHORE MORTGAGE FUNDING, LLC | $75,000 | $520,000 | 593.3% | 0.0% |
| AMERICAN HERITAGE LENDING, INC. | $370,000 | $505,000 | 36.5% | 0.0% |
| The Central Trust Bank | $430,000 | $505,000 | 17.4% | 0.0% |
| FINANCE OF AMERICA REVERSE LLC | $730,000 | $490,000 | -32.9% | 0.0% |
| First Savings Bank | $2,540,000 | $475,000 | -81.3% | 0.0% |
| HOMEXPRESS MORTGAGE CORP. | $325,000 | $475,000 | 46.2% | 0.0% |
| SouthPoint Bank | $1,395,000 | $475,000 | -65.9% | 0.0% |
| LEADERONE FINANCIAL CORPORATION | $135,000 | $460,000 | 240.7% | 0.0% |
| Independent Bank | $455,000 | n/a | 0.0% | |
| Pen Air Federal Credit Union | $1,525,000 | $455,000 | -70.2% | 0.0% |
| Family Security Credit Union | $790,000 | $450,000 | -43.0% | 0.0% |
| Citizens Bank & Trust Co | $445,000 | n/a | 0.0% | |
| First Security Bank | $445,000 | n/a | 0.0% | |
| CLEARPATH LENDING | $490,000 | $440,000 | -10.2% | 0.0% |
| CASTLE & COOKE MORTGAGE, LLC | $195,000 | $430,000 | 120.5% | 0.0% |
| EVANSVILLE TEACHERS | $205,000 | $430,000 | 109.8% | 0.0% |
| Gulf Coast Bank and Trust Company | $225,000 | $430,000 | 91.1% | 0.0% |
| Ixonia Bank | $295,000 | $430,000 | 45.8% | 0.0% |
| MID AMERICA MORTGAGE, INC. | $1,085,000 | $430,000 | -60.4% | 0.0% |
| EQUITY RESOURCES, INC. | $425,000 | n/a | 0.0% | |
| Great Plains National Bank | $415,000 | n/a | 0.0% | |
| LENDINGONE, LLC | $655,000 | $415,000 | -36.6% | 0.0% |
| First Federal Bank | $1,390,000 | $400,000 | -71.2% | 0.0% |
| Bank-Fund Staff Federal Credit Union | $395,000 | n/a | 0.0% | |
| M&T Bank | $1,245,000 | $395,000 | -68.3% | 0.0% |
| SOUTHEAST MORTGAGE OF GEORGIA, INC. | $1,200,000 | $390,000 | -67.5% | 0.0% |
| FCB Banks | $385,000 | n/a | 0.0% | |
| Guardian Credit Union | $350,000 | $380,000 | 8.6% | 0.0% |
| Fifth Third Bank | $340,000 | $375,000 | 10.3% | 0.0% |
| SUCCESS MORTGAGE PARTNERS, INC. | $860,000 | $360,000 | -58.1% | 0.0% |
| OCMBC, INC. | $355,000 | n/a | 0.0% | |
| SHELTER HOME MORTGAGE, LLC | $335,000 | n/a | 0.0% | |
| Traditions Bank | $335,000 | n/a | 0.0% | |
| FirstTrust Home Loans, Inc. | $320,000 | n/a | 0.0% | |
| T2 FINANCIAL LLC | $155,000 | $315,000 | 103.2% | 0.0% |
| VELOCITY COMMERCIAL CAPITAL, LLC | $915,000 | $315,000 | -65.6% | 0.0% |
| The Loan Store, Inc. | $310,000 | n/a | 0.0% | |
| NP, Inc. | $135,000 | $305,000 | 125.9% | 0.0% |
| SUMMIT FUNDING, INC. | $305,000 | n/a | 0.0% | |
| ASCEND FEDERAL CREDIT UNION | $295,000 | n/a | 0.0% | |
| THE MORTGAGE LINK, INC. | $295,000 | n/a | 0.0% | |
| EMM LOANS LLC | $285,000 | n/a | 0.0% | |
| Merchants Bank of Indiana | $11,070,000 | $285,000 | -97.4% | 0.0% |
| TOWNE MORTGAGE COMPANY | $195,000 | $285,000 | 46.2% | 0.0% |
| Victorian Finance, LLC | $245,000 | $285,000 | 16.3% | 0.0% |
| DRAPER AND KRAMER MORTGAGE CORP. | $290,000 | $275,000 | -5.2% | 0.0% |
| S1L, Inc. | $275,000 | n/a | 0.0% | |
| TJC Mortgage, Inc. | $500,000 | $275,000 | -45.0% | 0.0% |
| United Bank | $290,000 | $270,000 | -6.9% | 0.0% |
| GREENSTATE CREDIT UNION | $265,000 | n/a | 0.0% | |
| HUNT MORTGAGE CORPORATION | $265,000 | n/a | 0.0% | |
| MLD MORTGAGE INC. | $265,000 | n/a | 0.0% | |
| United Fidelity Funding Corp. | $265,000 | n/a | 0.0% | |
| Bethpage Federal Credit Union | $260,000 | n/a | 0.0% | |
| Citizens Bank of Rogersville | $255,000 | n/a | 0.0% | |
| EVERETT FINANCIAL, INC. | $2,965,000 | $255,000 | -91.4% | 0.0% |
| LENOX FINANCIAL MORTGAGE CORPORATION | $255,000 | n/a | 0.0% | |
| Metro City Bank | $145,000 | $255,000 | 75.9% | 0.0% |
| PREMIA MORTGAGE, LLC | $255,000 | n/a | 0.0% | |
| First Citizens Bank | $245,000 | n/a | 0.0% | |
| Home Bank | $245,000 | n/a | 0.0% | |
| MEMBER FIRST MORTGAGE, LLC | $245,000 | n/a | 0.0% | |
| Bank of Yazoo City | $235,000 | n/a | 0.0% | |
| TEMPLE VIEW CAPITAL FUNDING, LP | $320,000 | $235,000 | -26.6% | 0.0% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $230,000 | n/a | 0.0% | |
| First National Bank of America | $230,000 | n/a | 0.0% | |
| Logan Finance Corporation | $655,000 | $230,000 | -64.9% | 0.0% |
| Bankers Trust Company | $75,000 | $225,000 | 200.0% | 0.0% |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $1,220,000 | $225,000 | -81.6% | 0.0% |
| HomePromise Corporation | $225,000 | n/a | 0.0% | |
| MORTGAGE FINANCIAL SERVICES, LLC | $75,000 | $225,000 | 200.0% | 0.0% |
| PeoplesSouth Bank | $225,000 | n/a | 0.0% | |
| Legends Bank | $215,000 | n/a | 0.0% | |
| ON Q FINANCIAL, INC. | $215,000 | n/a | 0.0% | |
| Keystone Funding, Inc. | $205,000 | n/a | 0.0% | |
| Mid-Continent Funding, Inc. | $1,285,000 | $205,000 | -84.0% | 0.0% |
| MORIA DEVELOPMENT, INC. | $205,000 | n/a | 0.0% | |
| Pinnacle Bank | $175,000 | $205,000 | 17.1% | 0.0% |
| First Federal Bank | $1,390,000 | $195,000 | -86.0% | 0.0% |
| LAND HOME FINANCIAL SERVICES, INC. | $195,000 | n/a | 0.0% | |
| NATIONWIDE MORTGAGE BANKERS, INC. | $405,000 | $195,000 | -51.9% | 0.0% |
| R M K FINANCIAL CORP. | $195,000 | n/a | 0.0% | |
| AlaTrust Credit Union | $185,000 | n/a | 0.0% | |
| AMWEST FUNDING CORP. | $1,190,000 | $185,000 | -84.5% | 0.0% |
| Centennial Bank | $345,000 | $185,000 | -46.4% | 0.0% |
| First Farmers Bank and Trust Company | $185,000 | n/a | 0.0% | |
| MAX Credit Union | $920,000 | $185,000 | -79.9% | 0.0% |
| BankFirst Financial Services | $175,000 | n/a | 0.0% | |
| Chickasaw Community Bank | $145,000 | $175,000 | 20.7% | 0.0% |
| Evolve Bank & Trust | $175,000 | n/a | 0.0% | |
| First United Bank and Trust Company | $380,000 | $175,000 | -53.9% | 0.0% |
| RBC Bank, (Georgia) | $175,000 | n/a | 0.0% | |
| ALABAMA STATE EMPLOYEES CREDIT UNION | $170,000 | n/a | 0.0% | |
| GUARANTY HOME MORTGAGE CORPORATION | $2,215,000 | $170,000 | -92.3% | 0.0% |
| CALIBER HOME LOANS, INC. | $29,150,000 | $165,000 | -99.4% | 0.0% |
| Carrollton Bank | $165,000 | n/a | 0.0% | |
| Commercial Bank of Texas | $165,000 | n/a | 0.0% | |
| CONTOUR MORTGAGE CORPORATION | $225,000 | $165,000 | -26.7% | 0.0% |
| GENEVA FINANCIAL, LLC | $1,230,000 | $165,000 | -86.6% | 0.0% |
| OCEANSIDE MORTGAGE COMPANY | $165,000 | n/a | 0.0% | |
| Peoples Bank of Alabama | $165,000 | n/a | 0.0% | |
| Robertson Banking Company | $165,000 | n/a | 0.0% | |
| Willamette Valley Bank | $165,000 | n/a | 0.0% | |
| Home Loan Investment Bank, F.S.B. | $155,000 | n/a | 0.0% | |
| RUOFF MORTGAGE COMPANY, INC. | $240,000 | $155,000 | -35.4% | 0.0% |
| AmRes Corporation | $145,000 | n/a | 0.0% | |
| SeaTrust Mortgage Company | $145,000 | n/a | 0.0% | |
| AMERICAN FINANCING CORPORATION | $2,030,000 | $135,000 | -93.3% | 0.0% |
| CREDIT UNION MORTGAGE ASSOCIATION, INC. | $135,000 | n/a | 0.0% | |
| Grand Bank for Savings, FSB | $135,000 | n/a | 0.0% | |
| EASTMAN | $125,000 | n/a | 0.0% | |
| Liberty Bank and Trust Company | $120,000 | n/a | 0.0% | |
| INTERCAP LENDING INC. | $115,000 | n/a | 0.0% | |
| West Alabama Bank & Trust | $35,000 | $110,000 | 214.3% | 0.0% |
| Alcova Mortgage LLC | $105,000 | n/a | 0.0% | |
| Gateway First Bank | $550,000 | $105,000 | -80.9% | 0.0% |
| LONGBRIDGE FINANCIAL, LLC | $105,000 | n/a | 0.0% | |
| Northpointe Bank | $555,000 | $105,000 | -81.1% | 0.0% |
| PriorityOne Bank | $500,000 | $105,000 | -79.0% | 0.0% |
| BLACK HILLS FEDERAL CREDIT UNION | $95,000 | n/a | 0.0% | |
| CONSTRUCTIVE LOANS, LLC | $95,000 | n/a | 0.0% | |
| CSL Financial, LLC | $700,000 | $95,000 | -86.4% | 0.0% |
| NETWORK CAPITAL FUNDING CORPORATION | $505,000 | $95,000 | -81.2% | 0.0% |
| Valley National Bank | $95,000 | n/a | 0.0% | |
| First National Bank | $105,000 | $90,000 | -14.3% | 0.0% |
| ITHINK FINANCIAL Credit Union | $85,000 | n/a | 0.0% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $310,000 | $85,000 | -72.6% | 0.0% |
| ABSOLUTE HOME MORTGAGE CORPORATION | $75,000 | n/a | 0.0% | |
| CITIZENS EQUITY FIRST | $405,000 | $75,000 | -81.5% | 0.0% |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $75,000 | n/a | 0.0% | |
| HARVESTERS FEDERAL CREDIT UNION | $65,000 | n/a | 0.0% | |
| Signature Federal Credit Union | $85,000 | $65,000 | -23.5% | 0.0% |
| ALLIANT CREDIT UNION | $55,000 | n/a | 0.0% | |
| CENTRAL CREDIT UNION OF FLORIDA | $55,000 | n/a | 0.0% | |
| Secured Investment Corp. | $280,000 | $55,000 | -80.4% | 0.0% |
| Deere Employees Credit Union | $330,000 | $35,000 | -89.4% | 0.0% |
| Mid-Missouri Bank | $35,000 | n/a | 0.0% | |
| First US Bank | $25,000 | n/a | 0.0% |
MOBILE's top lender by overall market share is Trustmark National Bank, with 6.3% market share. In second place, with 6.1%, is DHI MORTGAGE COMPANY, LTD., having originated $84,380,000 in loans. In third place, with 5.3%, is QUICKEN LOANS, LLC, having originated $74,065,000 in loans. In fourth place, with 4.4%, is Regions Bank, having originated $61,535,000 in loans. In fifth place, with 3.6%, is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, having originated $49,600,000 in loans.
MOBILE, AL Average Rent (2023)
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| Zip Code | Metro | Studio Apartment Rent | 1BR Apartment Rent | 2BR Apartment Rent | 3BR Apartment Rent | 4BR Apartment Rent |
|---|---|---|---|---|---|---|
| 36505 | Mobile, AL HUD Metro FMR Area | $940 | $1,010 | $1,250 | $1,670 | $1,770 |
| 36509 | Mobile, AL HUD Metro FMR Area | $610 | $660 | $820 | $1,100 | $1,160 |
| 36512 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,400 |
| 36521 | Mobile, AL HUD Metro FMR Area | $650 | $700 | $870 | $1,160 | $1,230 |
| 36522 | Mobile, AL HUD Metro FMR Area | $650 | $700 | $860 | $1,150 | $1,230 |
| 36523 | Mobile, AL HUD Metro FMR Area | $730 | $780 | $970 | $1,300 | $1,380 |
| 36525 | Mobile, AL HUD Metro FMR Area | $660 | $710 | $880 | $1,180 | $1,250 |
| 36528 | Mobile, AL HUD Metro FMR Area | $890 | $960 | $1,190 | $1,590 | $1,690 |
| 36541 | Mobile, AL HUD Metro FMR Area | $940 | $1,010 | $1,260 | $1,680 | $1,790 |
| 36544 | Mobile, AL HUD Metro FMR Area | $700 | $760 | $940 | $1,260 | $1,330 |
| 36560 | Mobile, AL HUD Metro FMR Area | $650 | $700 | $870 | $1,160 | $1,230 |
| 36568 | Mobile, AL HUD Metro FMR Area | $880 | $950 | $1,180 | $1,570 | $1,670 |
| 36571 | Mobile, AL HUD Metro FMR Area | $730 | $790 | $980 | $1,310 | $1,390 |
| 36572 | Mobile, AL HUD Metro FMR Area | $830 | $890 | $1,110 | $1,480 | $1,580 |
| 36575 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,410 |
| 36582 | Mobile, AL HUD Metro FMR Area | $630 | $680 | $840 | $1,120 | $1,190 |
| 36587 | Mobile, AL HUD Metro FMR Area | $730 | $780 | $970 | $1,300 | $1,380 |
| 36590 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,410 |
| 36601 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,410 |
| 36602 | Mobile, AL HUD Metro FMR Area | $600 | $640 | $790 | $1,060 | $1,120 |
| 36603 | Mobile, AL HUD Metro FMR Area | $600 | $630 | $780 | $1,040 | $1,120 |
| 36604 | Mobile, AL HUD Metro FMR Area | $680 | $730 | $910 | $1,220 | $1,290 |
| 36605 | Mobile, AL HUD Metro FMR Area | $730 | $780 | $970 | $1,300 | $1,380 |
| 36606 | Mobile, AL HUD Metro FMR Area | $730 | $780 | $970 | $1,300 | $1,380 |
| 36607 | Mobile, AL HUD Metro FMR Area | $700 | $760 | $940 | $1,260 | $1,330 |
| 36608 | Mobile, AL HUD Metro FMR Area | $830 | $890 | $1,110 | $1,480 | $1,580 |
| 36609 | Mobile, AL HUD Metro FMR Area | $700 | $750 | $930 | $1,240 | $1,320 |
| 36610 | Mobile, AL HUD Metro FMR Area | $610 | $650 | $810 | $1,080 | $1,150 |
| 36611 | Mobile, AL HUD Metro FMR Area | $760 | $810 | $1,010 | $1,350 | $1,430 |
| 36612 | Mobile, AL HUD Metro FMR Area | $650 | $700 | $870 | $1,160 | $1,230 |
| 36613 | Mobile, AL HUD Metro FMR Area | $770 | $830 | $1,030 | $1,380 | $1,460 |
| 36615 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,410 |
| 36616 | Mobile, AL HUD Metro FMR Area | $610 | $650 | $810 | $1,080 | $1,150 |
| 36617 | Mobile, AL HUD Metro FMR Area | $790 | $850 | $1,060 | $1,420 | $1,500 |
| 36618 | Mobile, AL HUD Metro FMR Area | $800 | $860 | $1,070 | $1,430 | $1,520 |
| 36619 | Mobile, AL HUD Metro FMR Area | $750 | $800 | $1,000 | $1,340 | $1,420 |
| 36633 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,410 |
| 36640 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,410 |
| 36652 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,410 |
| 36660 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,410 |
| 36663 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,410 |
| 36670 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,410 |
| 36671 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,410 |
| 36685 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,410 |
| 36688 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,410 |
| 36689 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,410 |
| 36691 | Mobile, AL HUD Metro FMR Area | $740 | $800 | $990 | $1,320 | $1,410 |
| 36693 | Mobile, AL HUD Metro FMR Area | $790 | $850 | $1,060 | $1,420 | $1,500 |
| 36695 | Mobile, AL HUD Metro FMR Area | $890 | $960 | $1,190 | $1,590 | $1,690 |
2022 Average & Median Rent Data Statistics
MOBILE, AL average 1BR rent: $792, median: $800
MOBILE, AL average 2BR rent: $982, median: $990
MOBILE, AL average 3BR rent: $1,312, median: $1,320
MOBILE, AL Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 4,347 | $1,000,415,000 | $230,139 |
| Cash Out Refi | 814 | $160,070,000 | $196,646 |
| Other | 772 | $66,950,000 | $86,723 |
| Refi | 649 | $123,115,000 | $189,700 |
| Home Improvement | 504 | $38,290,000 | $75,972 |
Mobile's most frequently cited loan purpose was Home Purchase, with 4,347 originations. The 2nd most popular reason was Cash Out Refi, with 814 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 2,362 | $500,600,000 | $211,939 |
| 7-8% | 1,533 | $294,215,000 | $191,921 |
| Over 8% | 1,529 | $175,795,000 | $114,974 |
| 5-6% | 1,220 | $312,120,000 | $255,836 |
| 4-5% | 236 | $60,640,000 | $256,949 |
| <2.5% | 42 | $3,290,000 | $78,333 |
| 3-4% | 27 | $3,295,000 | $122,037 |
| 2.5-3% | 14 | $2,740,000 | $195,714 |
During 2023, Mobile's most frequently originated rate bucket was 6-7%, with 2,362 originations.
Loan Sizing (MOBILE, AL MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 2,311 | $345,495,000 | $149,500 |
| $200k-400k | 2,303 | $621,635,000 | $269,924 |
| $100,000 or less | 2,029 | $112,125,000 | $55,261 |
| $400k-600k | 311 | $146,095,000 | $469,759 |
| $600k-1000k | 104 | $74,480,000 | $716,154 |
| $Over $1MM | 28 | $89,010,000 | $3,178,929 |
MOBILE's loan sizing saw the bucket of loans from $100k-200k with 2,311 originations, totaling $345,495,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 3,357 | $788,855,000 | $234,988 |
| 60-80% | 1,239 | $314,725,000 | $254,015 |
| 20-40% | 820 | $77,710,000 | $94,768 |
| Under 20% | 775 | $31,705,000 | $40,910 |
| 40-60% | 553 | $89,985,000 | $162,722 |
| Over 100% | 163 | $43,045,000 | $264,080 |
MOBILE's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 3,357 originations, totaling $788,855,000 in origination value.