Montrose Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Montrose averaged 6.88% for the week of 2024-07-18, compared to the national average of 6.77% for the same period.

The average rate for the prior week (2024-07-11) was 6.7% and one month ago for the week of 2024-06-13, the average rate was 7.06%.

Montrose's average rate one year ago was 7.07%.

For refis of the same type during the week of 2024-07-18, the average rate was 6.77%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-07-18 6.77%
Montrose 30 Year Fixed Rate 2024-07-18 6.88%
Montrose 30 Year Fixed Rate Refi 2024-07-18 6.77%
Montrose 15 Year Fixed Rate 2024-07-18 6.15%
Montrose 15 Year Fixed Rate Refi 2024-07-18 6.05%
Montrose 30 Year FHA 2024-07-18 6.63%
Montrose 30 Year FHA Refi 2024-07-18 6.49%
Montrose 30 Year USDA 2024-07-18 6.43%
Montrose 30 Year USDA Refi 2024-07-18 6.83%
Montrose 30 Year VA 2024-07-18 6.2%
Montrose 30 Year VA Refi 2024-07-18 6.1%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Montrose, CO.

Montrose 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 Montrose, CO 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
S1L, Inc. 47 6.60% $10,185
ACADEMY MORTGAGE CORPORATION 35 7.02% $7,519
UNITED WHOLESALE MORTGAGE, LLC 31 6.75% $8,881
CORNERSTONE HOME LENDING, INC. 28 6.90% $6,517
QUICKEN LOANS, LLC 26 6.73% $6,707
ARK-LA-TEX FINANCIAL SERVICES, LLC. 19 7.04% $7,760
GUILD MORTGAGE COMPANY 12 6.92% $6,005
GENEVA FINANCIAL, LLC 10 7.31% $7,422
U.S. Bank 8 6.51% $5,367
Wells Fargo Bank 7 7.07% $3,891
Alpine Bank 7 7.44% $3,142
Bank of Colorado 6 6.83% $5,238
CMG MORTGAGE, INC. 6 7.10% $5,049
BROKER SOLUTIONS, INC. 5 6.80% $5,062
NAVY FEDERAL CREDIT UNION 4 6.28% $4,755
Morgan Stanley Private Bank 3 5.77% $3,254
PLAZA HOME MORTGAGE, INC. 3 6.88% $4,410
Mr. Cooper ( Nationstar Mortgage ) 3 6.45% $6,919
The Huntington National Bank 3 6.38% $5,080
CROSSCOUNTRY MORTGAGE, LLC 3 6.94% $6,212
NEWREZ LLC 3 6.04% $11,118
LOANDEPOT.COM, LLC 3 6.46% $6,755
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.13% $3,135
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.75% $4,012
AMERISAVE MORTGAGE CORPORATION 3 6.13% $7,810
ON TAP 3 6.75% $2,143
CHURCHILL MORTGAGE CORPORATION 2 7.49% $8,915
Ent Credit Union 2 5.88% $2,705
NBKC BANK 2 7.38% $2,162
Northpointe Bank 2 7.19% $4,936
Farm Credit Mid-America, ACA 2 7.63% $10,472
AMCAP MORTGAGE, LTD. 2 7.50% $8,477
BMO Harris Bank 2 6.63% $4,660
Bank of America 2 6.63% $3,636
GUARANTY HOME MORTGAGE CORPORATION 2 7.25% $4,496
BAY EQUITY LLC 2 6.18% $5,971
BETTER MORTGAGE CORPORATION 2 5.38% $17,308
PREMIER MEMBERS CREDIT UNION 1 4.88% $5,237
PULTE MORTGAGE LLC 1 5.88% $1,709
ROYAL UNITED MORTGAGE LLC 1 7.00% $9,146
Sandy Spring Bank 1 6.99% $5,318
Sierra Pacific Mortgage Company, Inc. 1 6.88% $3,727
SWBC MORTGAGE CORPORATION 1 6.75% $2,170
The Central Trust Bank 1 7.38% $4,086
TRUMARK FINANCIAL CREDIT UNION 1 5.88% $2,600
UBS Bank USA 1 5.50% $3,286
USAA Federal Savings Bank 1 6.25% $3,396
Valley National Bank 1 6.88% $3,741
ZILLOW HOME LOANS, LLC 1 6.88% $3,023
Zions Bank 1 5.38% $3,671
ALLIANT CREDIT UNION 1 5.50% $17,602
AMERICAN FINANCING CORPORATION 1 6.13% $7,932
ANB Bank 1 6.75% $1,808
BancorpSouth 1 7.75% $14,955
CALIBER HOME LOANS, INC. 1 5.99% $7,505
CANVAS CREDIT UNION 1 7.50% $2,575
CARDINAL FINANCIAL 1 6.99% $2,173
CHERRY CREEK MORTGAGE, LLC 1 6.88% $149
COLORAMO 1 5.75% $10,842
CREDIT UNION OF COLORADO, A FEDERAL CREDIT UNION 1 5.88% $4,696
CREDIT UNION WEST 1 5.88% $5,074
Discover Bank 1 6.24% $0
DRAPER AND KRAMER MORTGAGE CORP. 1 7.38% $5,137
Elevations Credit Union 1 6.50% $3,298
Firefighters First Federal Credit Union 1 5.25% $2,053
First Federal Bank 1 6.00% $2,830
First United Bank and Trust Company 1 7.63% $6,751
FREEDOM MORTGAGE CORPORATION 1 5.75% $7,966
Glacier Bank 1 7.38% $2,540
Grand Valley Bank 1 6.50% $3,301
GROUP MORTGAGE, LLC 1 6.88% $14,468
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 8.25% $3,647
JPMorgan Chase Bank 1 6.13% $4,086
LADERA LENDING, INC. 1 7.13% $10,437
M2 Lending Solutions, LLC 1 6.63% $3,095
MEGASTAR FINANCIAL CORP. 1 6.50% $4,897
Mortgage Research Center, LLC 1 7.25% $8,641
M&T Bank 1 6.88% $10,386
NBH Bank 1 5.88% $4,087
NMSI, INC. 1 6.88% $6,406
NOVA FINANCIAL & INVESTMENT CORPORATION 1 7.13% $3,122
Origin Bank 1 7.75% $4,547
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 7.50% $17,716
PENNYMAC LOAN SERVICES, LLC 1 6.00% $14,889
PENTAGON FEDERAL CREDIT UNION 1 6.38% $2,810
PNC Bank 1 5.88% $4,339

Montrose Average Closing Costs & Other Stats

Montrose, CO's 86 lenders originated 983 loans during 2023. The total origination value was $285,515,000, with an average loan value of $290,453.

Montrose's average closing costs are $5,170.

The top Montrose lender as defined by loan originations is S1L, Inc., with 47 loans originated. Their average total fees are $10,185, which is $2,666 higher than the next largest lender, ACADEMY MORTGAGE CORPORATION.

The lowest fee Montrose lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($6,005), CORNERSTONE HOME LENDING, INC. ($6,517), QUICKEN LOANS, LLC ($6,707), GENEVA FINANCIAL, LLC ($7,422) and ACADEMY MORTGAGE CORPORATION ($7,519).

The lowest rate Montrose lenders (with over 10 loans originated) are S1L, Inc. (6.60%), QUICKEN LOANS, LLC (6.73%), UNITED WHOLESALE MORTGAGE, LLC (6.75%), CORNERSTONE HOME LENDING, INC. (6.90%) and GUILD MORTGAGE COMPANY (6.92%).

Montrose, CO 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
ACADEMY MORTGAGE CORPORATION $50,530,000 $32,530,000 -35.6% 11.4%
S1L, Inc. $28,265,000 $23,420,000 -17.1% 8.2%
INTERNATIONAL BANK $18,705,000 n/a 6.6%
UNITED WHOLESALE MORTGAGE, LLC $17,755,000 $17,170,000 -3.3% 6.0%
CORNERSTONE HOME LENDING, INC. $23,440,000 $14,805,000 -36.8% 5.2%
QUICKEN LOANS, LLC $36,810,000 $14,275,000 -61.2% 5.0%
Alpine Bank $40,480,000 $10,630,000 -73.7% 3.7%
Bank of Colorado $19,260,000 $9,315,000 -51.6% 3.3%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $8,835,000 $8,385,000 -5.1% 2.9%
GENEVA FINANCIAL, LLC $13,655,000 $6,695,000 -51.0% 2.3%
Zions Bank $6,885,000 $5,380,000 -21.9% 1.9%
BMO Harris Bank $1,670,000 $4,770,000 185.6% 1.7%
U.S. Bank $11,290,000 $4,635,000 -58.9% 1.6%
21ST MORTGAGE CORPORATION $1,405,000 $4,070,000 189.7% 1.4%
NAVY FEDERAL CREDIT UNION $1,550,000 $3,770,000 143.2% 1.3%
GUILD MORTGAGE COMPANY $10,500,000 $3,725,000 -64.5% 1.3%
Mortgage Research Center, LLC $3,515,000 $3,230,000 -8.1% 1.1%
MORTGAGE SOLUTIONS OF COLORADO, LLC $3,725,000 $3,175,000 -14.8% 1.1%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $3,785,000 $3,125,000 -17.4% 1.1%
Wells Fargo Bank $17,345,000 $3,120,000 -82.0% 1.1%
CMG MORTGAGE, INC. $3,000,000 n/a 1.1%
BROKER SOLUTIONS, INC. $5,350,000 $2,880,000 -46.2% 1.0%
Mr. Cooper ( Nationstar Mortgage ) $4,050,000 $2,625,000 -35.2% 0.9%
LOANDEPOT.COM, LLC $10,795,000 $2,335,000 -78.4% 0.8%
Morgan Stanley Private Bank $2,310,000 $2,325,000 0.6% 0.8%
PENNYMAC LOAN SERVICES, LLC $4,170,000 $2,310,000 -44.6% 0.8%
The Huntington National Bank $2,215,000 $2,280,000 2.9% 0.8%
Farm Credit Mid-America, ACA $2,120,000 n/a 0.7%
NBH Bank $2,090,000 $2,000,000 -4.3% 0.7%
FREEDOM MORTGAGE CORPORATION $2,940,000 $1,875,000 -36.2% 0.7%
CROSSCOUNTRY MORTGAGE, LLC $1,160,000 $1,820,000 56.9% 0.6%
BELLCO $2,260,000 $1,685,000 -25.4% 0.6%
USAA Federal Savings Bank $2,565,000 $1,515,000 -40.9% 0.5%
MUTUAL OF OMAHA MORTGAGE, INC. $2,820,000 $1,495,000 -47.0% 0.5%
HomeBank Texas $1,445,000 n/a 0.5%
AMCAP MORTGAGE, LTD. $2,515,000 $1,390,000 -44.7% 0.5%
BAY EQUITY LLC $7,445,000 $1,315,000 -82.3% 0.5%
Origin Bank $1,285,000 n/a 0.5%
AMERISAVE MORTGAGE CORPORATION $1,350,000 $1,165,000 -13.7% 0.4%
The Central Trust Bank $1,035,000 $1,125,000 8.7% 0.4%
LADERA LENDING, INC. $1,105,000 n/a 0.4%
BETTER MORTGAGE CORPORATION $1,555,000 $1,090,000 -29.9% 0.4%
NEWREZ LLC $1,655,000 $1,085,000 -34.4% 0.4%
CREDIT UNION OF COLORADO, A FEDERAL CREDIT UNION $1,210,000 $1,080,000 -10.7% 0.4%
Elevations Credit Union $565,000 $1,060,000 87.6% 0.4%
Bank of America $5,475,000 $1,055,000 -80.7% 0.4%
BancorpSouth $1,005,000 n/a 0.4%
GUARANTEED RATE, INC. $2,360,000 $985,000 -58.3% 0.3%
Ent Credit Union $2,945,000 $975,000 -66.9% 0.3%
PLAZA HOME MORTGAGE, INC. $1,320,000 $945,000 -28.4% 0.3%
UBS Bank USA $505,000 $915,000 81.2% 0.3%
ON TAP $75,000 $910,000 1,113.3% 0.3%
PNC Bank $410,000 $860,000 109.8% 0.3%
PENTAGON FEDERAL CREDIT UNION $295,000 $845,000 186.4% 0.3%
LONGBRIDGE FINANCIAL, LLC $1,640,000 $815,000 -50.3% 0.3%
FINANCE OF AMERICA REVERSE LLC $235,000 $805,000 242.6% 0.3%
CHERRY CREEK MORTGAGE, LLC $3,175,000 $800,000 -74.8% 0.3%
CHURCHILL MORTGAGE CORPORATION $790,000 n/a 0.3%
V.I.P. MORTGAGE, INC. $780,000 n/a 0.3%
ALLIANT CREDIT UNION $85,000 $725,000 752.9% 0.3%
First United Bank and Trust Company $725,000 n/a 0.3%
United Bank $705,000 n/a 0.2%
The Federal Savings Bank $645,000 $700,000 8.5% 0.2%
GUARANTY HOME MORTGAGE CORPORATION $670,000 n/a 0.2%
Discover Bank $160,000 $655,000 309.4% 0.2%
Valley National Bank $655,000 n/a 0.2%
PREMIER MEMBERS CREDIT UNION $120,000 $650,000 441.7% 0.2%
Barrington Bank & Trust Company, N.A. $1,755,000 $625,000 -64.4% 0.2%
Figure Lending LLC $75,000 $590,000 686.7% 0.2%
BOKF $425,000 $545,000 28.2% 0.2%
Glacier Bank $485,000 $540,000 11.3% 0.2%
PHH Mortgage Corporation $530,000 $535,000 0.9% 0.2%
DRAPER AND KRAMER MORTGAGE CORP. $510,000 n/a 0.2%
GROUP MORTGAGE, LLC $505,000 n/a 0.2%
PULTE MORTGAGE LLC $505,000 n/a 0.2%
NBKC BANK $1,635,000 $500,000 -69.4% 0.2%
INTERCAP LENDING INC. $545,000 $495,000 -9.2% 0.2%
Flagstar Bank, FSB $1,500,000 $475,000 -68.3% 0.2%
COLORAMO $285,000 $465,000 63.2% 0.2%
Nations Lending Corporation $725,000 $455,000 -37.2% 0.2%
GUARANTEED RATE AFFINITY, LLC $455,000 $435,000 -4.4% 0.2%
CALIBER HOME LOANS, INC. $1,330,000 $415,000 -68.8% 0.1%
M2 Lending Solutions, LLC $415,000 n/a 0.1%
TRIAD FINANCIAL SERVICES, INC. $130,000 $410,000 215.4% 0.1%
ANB Bank $15,655,000 $400,000 -97.4% 0.1%
Carrington Mortgage Services, LLC $1,990,000 $395,000 -80.2% 0.1%
CREDIT UNION WEST $395,000 n/a 0.1%
Coastal Community Bank $390,000 n/a 0.1%
UNIVERSAL LENDING CORPORATION $785,000 $385,000 -51.0% 0.1%
AMERICAN FINANCING CORPORATION $2,755,000 $380,000 -86.2% 0.1%
LOANPAL, LLC $275,000 $380,000 38.2% 0.1%
PACIFIC RESIDENTIAL MORTGAGE, LLC $375,000 n/a 0.1%
LAND HOME FINANCIAL SERVICES, INC. $225,000 $355,000 57.8% 0.1%
Sandy Spring Bank $355,000 n/a 0.1%
VILLAGE CAPITAL MORTGAGE $765,000 $355,000 -53.6% 0.1%
Great Plains National Bank $345,000 n/a 0.1%
RESIDENTIAL BANCORP $95,000 $340,000 257.9% 0.1%
Network Funding, L.P. $325,000 n/a 0.1%
Sierra Pacific Mortgage Company, Inc. $325,000 n/a 0.1%
WESTERRA CREDIT UNION $565,000 $315,000 -44.2% 0.1%
Loan Simple, Inc. $1,220,000 $305,000 -75.0% 0.1%
VANDERBILT MORTGAGE AND FINANCE, INC. $300,000 n/a 0.1%
Charles Schwab Bank, SSB $1,670,000 $295,000 -82.3% 0.1%
INTEGRITY MORTGAGE & FINANCIAL INCORPORATED $295,000 n/a 0.1%
TRUMARK FINANCIAL CREDIT UNION $295,000 n/a 0.1%
Northpointe Bank $3,400,000 $290,000 -91.5% 0.1%
AMERICAN FINANCIAL NETWORK, INC. $285,000 n/a 0.1%
CARDINAL FINANCIAL $975,000 $285,000 -70.8% 0.1%
FIRST COMMUNITY MORTGAGE, INC. $475,000 $285,000 -40.0% 0.1%
Honor Credit Union $285,000 n/a 0.1%
HOMEBRIDGE FINANCIAL SERVICES, INC. $385,000 $275,000 -28.6% 0.1%
LENDINGHOME FUNDING CORPORATION $275,000 n/a 0.1%
ZILLOW HOME LOANS, LLC $700,000 $275,000 -60.7% 0.1%
EMM LOANS LLC $205,000 $265,000 29.3% 0.1%
Grand Valley Bank $215,000 $265,000 23.3% 0.1%
Century Mortgage Company DBA Century Lending Company $255,000 n/a 0.1%
Firefighters First Federal Credit Union $255,000 n/a 0.1%
Stifel Bank and Trust $560,000 $255,000 -54.5% 0.1%
JPMorgan Chase Bank $3,165,000 $250,000 -92.1% 0.1%
ROYAL UNITED MORTGAGE LLC $250,000 n/a 0.1%
First Federal Bank $245,000 n/a 0.1%
M&T Bank $275,000 $245,000 -10.9% 0.1%
SWBC MORTGAGE CORPORATION $780,000 $245,000 -68.6% 0.1%
CANVAS CREDIT UNION $280,000 $240,000 -14.3% 0.1%
AMWEST FUNDING CORP. $235,000 n/a 0.1%
MEGASTAR FINANCIAL CORP. $235,000 n/a 0.1%
AIR ACADEMY $225,000 n/a 0.1%
Equity Prime Mortgage LLC $225,000 n/a 0.1%
NMSI, INC. $205,000 n/a 0.1%
NOVA FINANCIAL & INVESTMENT CORPORATION $1,195,000 $205,000 -82.8% 0.1%
Advisors Mortgage Group, L.L.C. $185,000 n/a 0.1%
Independent Bank $295,000 $175,000 -40.7% 0.1%
THRIVE MORTGAGE, LLC $275,000 $165,000 -40.0% 0.1%
MOUNTAIN AMERICA $900,000 $155,000 -82.8% 0.1%
Sooper Credit Union $175,000 $150,000 -14.3% 0.1%
Oakstar Bank $145,000 n/a 0.1%
SECURITY SERVICE $1,440,000 $145,000 -89.9% 0.1%
CORNING $105,000 n/a 0.0%
QUORUM FEDERAL CREDIT UNION $175,000 $75,000 -57.1% 0.0%
Utah Power $65,000 n/a 0.0%
FOUR POINTS $55,000 n/a 0.0%
Red Rocks Credit Union $445,000 $55,000 -87.6% 0.0%
Credit Union of Denver $45,000 n/a 0.0%
Commerce Bank $35,000 n/a 0.0%
PARTNER COLORADO $495,000 $25,000 -94.9% 0.0%

Montrose's top lender by overall market share is ACADEMY MORTGAGE CORPORATION, with 11.4% market share. In second place, with 8.2%, is S1L, Inc., having originated $23,420,000 in loans. In third place, with 6.6%, is INTERNATIONAL BANK, having originated $18,705,000 in loans. In fourth place, with 6.0%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $17,170,000 in loans. In fifth place, with 5.2%, is CORNERSTONE HOME LENDING, INC., having originated $14,805,000 in loans.

Montrose, CO Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 594 $212,960,000 $358,519
Cash Out Refi 111 $26,795,000 $241,396
Refi 106 $24,940,000 $235,283
Home Improvement 91 $9,395,000 $103,242
Other 81 $11,425,000 $141,049

Montrose's most frequently cited loan purpose was Home Purchase, with 594 originations. The 2nd most popular reason was Cash Out Refi, with 111 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 330 $109,960,000 $333,212
7-8% 228 $71,520,000 $313,684
Over 8% 223 $31,025,000 $139,126
5-6% 122 $44,070,000 $361,230
<2.5% 51 $1,015,000 $19,902
4-5% 9 $3,005,000 $333,889
3-4% 2 $830,000 $415,000

During 2023, Montrose's most frequently originated rate bucket was 6-7%, with 330 originations.

Loan Sizing (Montrose, CO MSA)

Loan Size Originations Total Value Average Loan
$200k-400k 404 $121,430,000 $300,569
$100,000 or less 217 $9,855,000 $45,415
$100k-200k 170 $24,930,000 $146,647
$400k-600k 134 $63,620,000 $474,776
$600k-1000k 49 $34,795,000 $710,102
$Over $1MM 9 $30,885,000 $3,431,667

Montrose's loan sizing saw the bucket of loans from $200k-400k with 404 originations, totaling $121,430,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 308 $112,260,000 $364,481
Under 20% 214 $12,040,000 $56,262
60-80% 177 $68,175,000 $385,169
40-60% 133 $37,455,000 $281,617
20-40% 118 $21,840,000 $185,085
Over 100% 7 $3,055,000 $436,429

Montrose's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 308 originations, totaling $112,260,000 in origination value.