Mount Gay - Shamrock Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Mount Gay - Shamrock averaged
6.99%
for the week of 2023-03-16, compared to the national average of
6.6% for the same period.
The average rate for the prior week (2023-03-09) was
7.32% and
one month ago for the week of 2023-02-09, the
average rate was 6.41%.
Mount Gay - Shamrock's average rate one year ago was 4.54%.
For refis of the same type during the week of 2023-03-16, the average rate
was 6.88%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-03-16 | 6.6% |
| Mount Gay - Shamrock 30 Year Fixed Rate | 2023-03-16 | 6.99% |
| Mount Gay - Shamrock 30 Year Fixed Rate Refi | 2023-03-16 | 6.88% |
| Mount Gay - Shamrock 15 Year Fixed Rate | 2023-03-16 | 5.96% |
| Mount Gay - Shamrock 15 Year Fixed Rate Refi | 2023-03-16 | 6.05% |
| Mount Gay - Shamrock 30 Year FHA | 2023-03-16 | 6.85% |
| Mount Gay - Shamrock 30 Year FHA Refi | 2023-03-16 | 6.34% |
| Mount Gay - Shamrock 30 Year USDA | 2023-03-16 | 6.52% |
| Mount Gay - Shamrock 30 Year VA | 2023-03-16 | 6.52% |
| Mount Gay - Shamrock 30 Year VA Refi | 2023-03-16 | 6.34% |
Mount Gay - Shamrock 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 Mount Gay-Shamrock, WV 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 | 2021 Avg. 30yFix Rate | 2021 Avg. Closing Costs |
|---|---|---|---|
| QUICKEN LOANS, LLC | 14 | 3.13% | $5,832 |
| Victorian Finance, LLC | 7 | 3.04% | $3,358 |
| Community Trust Bank, Inc. | 4 | 2.91% | $2,066 |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | 4 | 3.50% | $3,931 |
| Gateway First Bank | 3 | 3.33% | $3,146 |
| First Community Bank | 3 | 3.68% | $2,337 |
| United Bank | 3 | 3.18% | $2,520 |
| LOANDEPOT.COM, LLC | 2 | 2.94% | $4,002 |
| BROKER SOLUTIONS, INC. | 1 | 3.88% | $2,780 |
| Ally Bank | 1 | 2.63% | $5,060 |
| Alcova Mortgage LLC | 1 | 3.38% | $7,433 |
| JPMorgan Chase Bank | 1 | 2.99% | $5,895 |
| LIBERTY HOME MORTGAGE CORPORATION | 1 | 3.38% | $7,984 |
| Midwest Community Bank | 1 | 3.25% | $5,189 |
| BLUELEAF LENDING, LLC | 1 | 3.25% | $5,189 |
| BETTER MORTGAGE CORPORATION | 1 | 3.00% | $3,900 |
| Truist | 1 | 2.88% | $3,264 |
| CHURCHILL MORTGAGE CORPORATION | 1 | 3.25% | $3,471 |
| City National Bank of West Virginia | 1 | 4.99% | $150 |
| Citizens Bank | 1 | 2.88% | $3,023 |
Mount Gay - Shamrock Average Closing Costs & Other Stats
Mount Gay-Shamrock, WV's 20 lenders originated 345
loans during 2021. The total origination value was $39,445,000, with an average loan value of
$114,333.
Mount Gay - Shamrock's average closing costs are $4,309.
The top Mount Gay - Shamrock lender as defined by loan originations is QUICKEN LOANS, LLC, with
14 loans originated. Their average total fees are
$5,832, which is $2,475
higher than the next largest lender,
Victorian Finance, LLC.
The lowest fee Mount Gay - Shamrock lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($5,832), .
The lowest rate Mount Gay - Shamrock lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (3.13%), .
Mount Gay-Shamrock, WV 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 | 2020 Loan Value | 2021 Loan Value | % Change | 2021 Market Share |
|---|---|---|---|---|
| Logan Bank & Trust Company | $8,055,000 | $11,190,000 | 38.9% | 28.4% |
| QUICKEN LOANS, LLC | $6,325,000 | $8,535,000 | 34.9% | 21.6% |
| Victorian Finance, LLC | $3,945,000 | $4,745,000 | 20.3% | 12.0% |
| Community Trust Bank, Inc. | $1,060,000 | $1,795,000 | 69.3% | 4.6% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $2,405,000 | $1,365,000 | -43.2% | 3.5% |
| FREEDOM MORTGAGE CORPORATION | $1,260,000 | $945,000 | -25.0% | 2.4% |
| Gateway First Bank | $2,385,000 | $840,000 | -64.8% | 2.1% |
| LOANDEPOT.COM, LLC | $760,000 | $800,000 | 5.3% | 2.0% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $800,000 | n/a | 2.0% | |
| AMERISAVE MORTGAGE CORPORATION | $295,000 | $775,000 | 162.7% | 2.0% |
| Truist Bank | $675,000 | $670,000 | -0.7% | 1.7% |
| NAVY FEDERAL CREDIT UNION | $285,000 | $515,000 | 80.7% | 1.3% |
| LIBERTY HOME MORTGAGE CORPORATION | $490,000 | n/a | 1.2% | |
| United Bank | $1,365,000 | $445,000 | -67.4% | 1.1% |
| Mortgage Research Center, LLC | $410,000 | $440,000 | 7.3% | 1.1% |
| The Huntington National Bank | $500,000 | $390,000 | -22.0% | 1.0% |
| JPMorgan Chase Bank | $815,000 | $360,000 | -55.8% | 0.9% |
| First Community Bank | $385,000 | $325,000 | -15.6% | 0.8% |
| Ally Bank | $300,000 | n/a | 0.8% | |
| BLUELEAF LENDING, LLC | $295,000 | n/a | 0.7% | |
| Midwest Community Bank | $295,000 | n/a | 0.7% | |
| Hometown Lenders, Inc. | $190,000 | $230,000 | 21.1% | 0.6% |
| LEADERONE FINANCIAL CORPORATION | $225,000 | n/a | 0.6% | |
| UNITED WHOLESALE MORTGAGE, LLC | $185,000 | n/a | 0.5% | |
| CHURCHILL MORTGAGE CORPORATION | $180,000 | n/a | 0.5% | |
| Alcova Mortgage LLC | $175,000 | n/a | 0.4% | |
| Mr. Cooper ( Nationstar Mortgage ) | $575,000 | $170,000 | -70.4% | 0.4% |
| DRAPER AND KRAMER MORTGAGE CORP. | $165,000 | n/a | 0.4% | |
| PLANET HOME LENDING, LLC | $165,000 | n/a | 0.4% | |
| City National Bank of West Virginia | $435,000 | $160,000 | -63.2% | 0.4% |
| MOVEMENT MORTGAGE, LLC | $1,290,000 | $155,000 | -88.0% | 0.4% |
| Carrington Mortgage Services, LLC | $635,000 | $145,000 | -77.2% | 0.4% |
| LAKEVIEW LOAN SERVICING, LLC | $135,000 | n/a | 0.3% | |
| ALTRA | $120,000 | n/a | 0.3% | |
| BETTER MORTGAGE CORPORATION | $145,000 | $115,000 | -20.7% | 0.3% |
| Peoples Bank | $110,000 | n/a | 0.3% | |
| BROKER SOLUTIONS, INC. | $105,000 | n/a | 0.3% | |
| USAA Federal Savings Bank | $135,000 | $105,000 | -22.2% | 0.3% |
| Blue Ridge Bank | $85,000 | n/a | 0.2% | |
| CALIBER HOME LOANS, INC. | $155,000 | $85,000 | -45.2% | 0.2% |
| UNION HOME MORTGAGE CORP. | $85,000 | n/a | 0.2% | |
| Bank of England | $65,000 | n/a | 0.2% | |
| Citizens Bank | $55,000 | n/a | 0.1% | |
| NUMARK CREDIT UNION | $55,000 | n/a | 0.1% | |
| Premier Bank, Inc. | $290,000 | $55,000 | -81.0% | 0.1% |
Mount Gay - Shamrock's top lender by overall market share is Logan Bank & Trust Company, with 28.4% market share. In second place, with 21.6%, is QUICKEN LOANS, LLC, having originated $8,535,000 in loans. In third place, with 12.0%, is Victorian Finance, LLC, having originated $4,745,000 in loans. In fourth place, with 4.6%, is Community Trust Bank, Inc., having originated $1,795,000 in loans. In fifth place, with 3.5%, is VANDERBILT MORTGAGE AND FINANCE, INC., having originated $1,365,000 in loans.
Mount Gay-Shamrock, WV Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 175 | $19,085,000 | $109,057 |
| Refi | 74 | $10,050,000 | $135,811 |
| Cash Out Refi | 70 | $8,140,000 | $116,286 |
| Other | 16 | $1,730,000 | $108,125 |
| Home Improvement | 10 | $440,000 | $44,000 |
Mount Gay - Shamrock's most frequently cited loan purpose was Home Purchase, with 175 originations. The 2nd most popular reason was Refi, with 74 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 100 | $12,800,000 | $128,000 |
| 3-4% | 74 | $8,260,000 | $111,622 |
| <2.5% | 35 | $4,955,000 | $141,571 |
| 4-5% | 9 | $765,000 | $85,000 |
| Over 8% | 9 | $635,000 | $70,556 |
| 7-8% | 6 | $360,000 | $60,000 |
| 6-7% | 5 | $425,000 | $85,000 |
During 2021, Mount Gay - Shamrock's most frequently originated rate bucket was 2.5-3%, with 100 originations.
Loan Sizing (Mount Gay-Shamrock, WV MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 169 | $10,755,000 | $63,639 |
| $100k-200k | 137 | $18,955,000 | $138,358 |
| $200k-400k | 39 | $9,735,000 | $249,615 |
Mount Gay - Shamrock's loan sizing saw the bucket of loans from $100,000 or less with 169 originations, totaling $10,755,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 137 | $16,645,000 | $121,496 |
| 60-80% | 57 | $7,175,000 | $125,877 |
| 40-60% | 22 | $2,480,000 | $112,727 |
| 20-40% | 6 | $550,000 | $91,667 |
| Under 20% | 4 | $80,000 | $20,000 |
Mount Gay - Shamrock's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 137 originations, totaling $16,645,000 in origination value.