Mount Gay - Shamrock Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Mount Gay - Shamrock averaged
7.2%
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 6.84%.
Mount Gay - Shamrock's average rate one year ago was 6.37%.
For refis of the same type during the week of 2024-04-18, the average rate
was 7%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-04-18 | 7.1% |
| Mount Gay - Shamrock 30 Year Fixed Rate | 2024-04-18 | 7.2% |
| Mount Gay - Shamrock 30 Year Fixed Rate Refi | 2024-04-18 | 7% |
| Mount Gay - Shamrock 15 Year Fixed Rate | 2024-04-18 | 6.49% |
| Mount Gay - Shamrock 15 Year Fixed Rate Refi | 2024-04-18 | 6.59% |
| Mount Gay - Shamrock 30 Year FHA | 2024-04-18 | 7.06% |
| Mount Gay - Shamrock 30 Year FHA Refi | 2024-04-18 | 7.16% |
| Mount Gay - Shamrock 30 Year USDA | 2024-04-18 | 6.66% |
| Mount Gay - Shamrock 30 Year USDA Refi | 2024-04-18 | 6.76% |
| Mount Gay - Shamrock 30 Year VA | 2024-04-18 | 6.56% |
| Mount Gay - Shamrock 30 Year VA Refi | 2024-04-18 | 6.86% |
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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| LOANDEPOT.COM, LLC | 9 | 6.48% | $3,424 |
| QUICKEN LOANS, LLC | 4 | 6.96% | $3,956 |
| MOVEMENT MORTGAGE, LLC | 2 | 7.03% | $4,880 |
| Gateway First Bank | 2 | 6.38% | $3,024 |
| JPMorgan Chase Bank | 2 | 7.31% | $3,884 |
| United Bank | 2 | 6.75% | $3,213 |
| ZILLOW HOME LOANS, LLC | 1 | 8.63% | $4,369 |
| Fifth Third Bank | 1 | 7.50% | $2,711 |
| First Community Bank | 1 | 8.13% | $2,362 |
| Peoples Bank | 1 | 7.13% | $3,453 |
| Truist | 1 | 6.49% | $3,509 |
| CROSSCOUNTRY MORTGAGE, LLC | 1 | 8.63% | $3,808 |
Mount Gay - Shamrock Average Closing Costs & Other Stats
Mount Gay-Shamrock, WV's 12 lenders originated 263
loans during 2023. The total origination value was $28,565,000, with an average loan value of
$108,612.
Mount Gay - Shamrock's average closing costs are $4,792.
The top Mount Gay - Shamrock lender as defined by loan originations is LOANDEPOT.COM, LLC, with
9 loans originated. Their average total fees are
$3,424, which is $532
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Mount Gay - Shamrock lenders (with over 10 loans originated) are
.
The lowest rate Mount Gay - Shamrock lenders (with over 10 loans originated) are
.
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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| Logan Bank & Trust Company | $11,985,000 | $10,735,000 | -10.4% | 37.6% |
| LOANDEPOT.COM, LLC | $2,090,000 | $5,410,000 | 158.9% | 18.9% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $1,590,000 | $1,975,000 | 24.2% | 6.9% |
| MOVEMENT MORTGAGE, LLC | $520,000 | $1,695,000 | 226.0% | 5.9% |
| QUICKEN LOANS, LLC | $6,050,000 | $1,460,000 | -75.9% | 5.1% |
| Gateway First Bank | $1,570,000 | $1,200,000 | -23.6% | 4.2% |
| Truist | $790,000 | $685,000 | -13.3% | 2.4% |
| Mortgage Research Center, LLC | $1,845,000 | $590,000 | -68.0% | 2.1% |
| Peoples Bank | $945,000 | $550,000 | -41.8% | 1.9% |
| Victorian Finance, LLC | $5,040,000 | $505,000 | -90.0% | 1.8% |
| JPMorgan Chase Bank | $225,000 | $450,000 | 100.0% | 1.6% |
| Whitesville State Bank | $405,000 | n/a | 1.4% | |
| Summit Community Bank, Inc. | $270,000 | n/a | 0.9% | |
| The Poca Valley Bank, Inc. | $35,000 | $245,000 | 600.0% | 0.9% |
| AmeriHome Mortgage Company, LLC | $235,000 | n/a | 0.8% | |
| United Bank | $700,000 | $235,000 | -66.4% | 0.8% |
| TRIAD FINANCIAL SERVICES, INC. | $220,000 | n/a | 0.8% | |
| WesBanco | $220,000 | n/a | 0.8% | |
| U.S. Bank | $65,000 | $200,000 | 207.7% | 0.7% |
| First Community Bank | $205,000 | $160,000 | -22.0% | 0.6% |
| TOTAL MORTGAGE SERVICES, LLC | $155,000 | n/a | 0.5% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $625,000 | $130,000 | -79.2% | 0.5% |
| Alcova Mortgage LLC | $115,000 | n/a | 0.4% | |
| BAYER HERITAGE | $90,000 | n/a | 0.3% | |
| City National Bank of West Virginia | $360,000 | $90,000 | -75.0% | 0.3% |
| AMERISAVE MORTGAGE CORPORATION | $355,000 | $65,000 | -81.7% | 0.2% |
| Fifth Third Bank | $125,000 | $65,000 | -48.0% | 0.2% |
| ROYAL UNITED MORTGAGE LLC | $85,000 | $65,000 | -23.5% | 0.2% |
| ZILLOW HOME LOANS, LLC | $65,000 | n/a | 0.2% | |
| ASHLAND Credit Union | $315,000 | $55,000 | -82.5% | 0.2% |
| CROSSCOUNTRY MORTGAGE, LLC | $55,000 | n/a | 0.2% | |
| BROKER SOLUTIONS, INC. | $315,000 | $45,000 | -85.7% | 0.2% |
| Community Trust Bank, Inc. | $560,000 | $45,000 | -92.0% | 0.2% |
| FREEDOM MORTGAGE CORPORATION | $145,000 | $45,000 | -69.0% | 0.2% |
| ALTRA | $35,000 | n/a | 0.1% |
Mount Gay - Shamrock's top lender by overall market share is Logan Bank & Trust Company, with 37.6% market share. In second place, with 18.9%, is LOANDEPOT.COM, LLC, having originated $5,410,000 in loans. In third place, with 6.9%, is VANDERBILT MORTGAGE AND FINANCE, INC., having originated $1,975,000 in loans. In fourth place, with 5.9%, is MOVEMENT MORTGAGE, LLC, having originated $1,695,000 in loans. In fifth place, with 5.1%, is QUICKEN LOANS, LLC, having originated $1,460,000 in loans.
Mount Gay-Shamrock, WV Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 182 | $22,290,000 | $122,473 |
| Home Improvement | 32 | $1,960,000 | $61,250 |
| Refi | 25 | $2,175,000 | $87,000 |
| Other | 12 | $780,000 | $65,000 |
| Cash Out Refi | 12 | $1,360,000 | $113,333 |
Mount Gay - Shamrock's most frequently cited loan purpose was Home Purchase, with 182 originations. The 2nd most popular reason was Home Improvement, with 32 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 37 | $4,385,000 | $118,514 |
| 6-7% | 37 | $4,905,000 | $132,568 |
| 7-8% | 36 | $4,290,000 | $119,167 |
| Over 8% | 33 | $3,115,000 | $94,394 |
| 3-4% | 5 | $315,000 | $63,000 |
| <2.5% | 3 | $95,000 | $31,667 |
| 4-5% | 1 | $75,000 | $75,000 |
During 2023, Mount Gay - Shamrock's most frequently originated rate bucket was 5-6%, with 37 originations.
Loan Sizing (Mount Gay-Shamrock, WV MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 144 | $8,480,000 | $58,889 |
| $100k-200k | 92 | $13,090,000 | $142,283 |
| $200k-400k | 26 | $6,590,000 | $253,462 |
| $400k-600k | 1 | $405,000 | $405,000 |
Mount Gay - Shamrock's loan sizing saw the bucket of loans from $100,000 or less with 144 originations, totaling $8,480,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 107 | $13,735,000 | $128,364 |
| 60-80% | 20 | $2,080,000 | $104,000 |
| 20-40% | 9 | $455,000 | $50,556 |
| 40-60% | 8 | $640,000 | $80,000 |
| Under 20% | 8 | $270,000 | $33,750 |
Mount Gay - Shamrock's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 107 originations, totaling $13,735,000 in origination value.