NEW BERN Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in New Bern averaged
6.65%
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
6.68% and
one month ago for the week of 2024-10-03, the
average rate was 5.98%.
New Bern's average rate one year ago was 7.82%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.09%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| New Bern 30 Year Fixed Rate | 2024-11-07 | 6.65% |
| New Bern 30 Year Fixed Rate Refi | 2024-11-07 | 7.09% |
| New Bern 15 Year Fixed Rate | 2024-11-07 | 5.9% |
| New Bern 15 Year Fixed Rate Refi | 2024-11-07 | 6.1% |
| New Bern 30 Year FHA | 2024-11-07 | 6.35% |
| New Bern 30 Year FHA Refi | 2024-11-07 | 6.53% |
| New Bern 30 Year USDA | 2024-11-07 | 6.48% |
| New Bern 30 Year USDA Refi | 2024-11-07 | 6.48% |
| New Bern 30 Year VA | 2024-11-07 | 6.29% |
| New Bern 30 Year VA Refi | 2024-11-07 | 6.34% |
NEW BERN 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 NEW BERN, NC 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.).
NEW BERN Average Closing Costs & Other Stats
NEW BERN, NC's 110 lenders originated 2,876
loans during 2023. The total origination value was $600,500,000, with an average loan value of
$208,797.
NEW BERN's average closing costs are $4,858.
The top NEW BERN lender as defined by loan originations is STATE EMPLOYEES', with
89 loans originated. Their average total fees are
$3,985, which is $2,523
lower than the next largest lender,
ATLANTIC BAY MORTGAGE GROUP, L.L.C..
The lowest fee NEW BERN lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. ($2,420), JPMorgan Chase Bank ($2,424), NAVY FEDERAL CREDIT UNION ($3,545), STATE EMPLOYEES' ($3,985) and Truist ($4,246).
The lowest rate NEW BERN lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.51%), STATE EMPLOYEES' (5.91%), Truist (6.46%), First-Citizens Bank & Trust Company (6.50%) and PNC Bank (6.53%).
NEW BERN, NC 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 |
|---|---|---|---|---|
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $70,595,000 | $63,255,000 | -10.4% | 10.5% |
| First-Citizens Bank & Trust Company | $65,470,000 | $47,730,000 | -27.1% | 7.9% |
| NAVY FEDERAL CREDIT UNION | $56,605,000 | $43,765,000 | -22.7% | 7.3% |
| STATE EMPLOYEES' | $57,840,000 | $38,090,000 | -34.1% | 6.3% |
| GUARANTEED RATE, INC. | $41,245,000 | $35,210,000 | -14.6% | 5.9% |
| QUICKEN LOANS, LLC | $53,110,000 | $33,390,000 | -37.1% | 5.6% |
| MOVEMENT MORTGAGE, LLC | $46,655,000 | $27,810,000 | -40.4% | 4.6% |
| Mortgage Research Center, LLC | $42,505,000 | $27,325,000 | -35.7% | 4.6% |
| Truist | $35,320,000 | $20,090,000 | -43.1% | 3.3% |
| DHI MORTGAGE COMPANY, LTD. | $40,040,000 | $18,835,000 | -53.0% | 3.1% |
| UNITED WHOLESALE MORTGAGE, LLC | $12,005,000 | $17,045,000 | 42.0% | 2.8% |
| First National Bank of Pennsylvania | $35,610,000 | $9,555,000 | -73.2% | 1.6% |
| PNC Bank | $17,960,000 | $8,660,000 | -51.8% | 1.4% |
| PENNYMAC LOAN SERVICES, LLC | $7,625,000 | $7,680,000 | 0.7% | 1.3% |
| Wells Fargo Bank | $17,765,000 | $6,875,000 | -61.3% | 1.1% |
| FREEDOM MORTGAGE CORPORATION | $14,580,000 | $6,750,000 | -53.7% | 1.1% |
| American Security Mortgage Corp. | $9,965,000 | $6,545,000 | -34.3% | 1.1% |
| INTERCOASTAL MORTGAGE COMPANY | $3,450,000 | $5,535,000 | 60.4% | 0.9% |
| USAA Federal Savings Bank | $7,010,000 | $5,410,000 | -22.8% | 0.9% |
| Bank of America | $6,765,000 | $4,730,000 | -30.1% | 0.8% |
| LOANDEPOT.COM, LLC | $10,055,000 | $4,590,000 | -54.4% | 0.8% |
| Corporate Investors Mortgage Group, Inc. | $790,000 | $4,580,000 | 479.7% | 0.8% |
| Southern Bank and Trust Company | $5,205,000 | $4,365,000 | -16.1% | 0.7% |
| CROSSCOUNTRY MORTGAGE, LLC | $3,700,000 | $4,280,000 | 15.7% | 0.7% |
| NEW DAY FINANCIAL, LLC | $4,535,000 | $4,055,000 | -10.6% | 0.7% |
| JPMorgan Chase Bank | $4,495,000 | $3,975,000 | -11.6% | 0.7% |
| NEWREZ LLC | $1,550,000 | $3,945,000 | 154.5% | 0.7% |
| 21ST MORTGAGE CORPORATION | $3,240,000 | $3,685,000 | 13.7% | 0.6% |
| GUILD MORTGAGE COMPANY | $4,790,000 | $3,655,000 | -23.7% | 0.6% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $7,595,000 | $3,405,000 | -55.2% | 0.6% |
| UNION HOME MORTGAGE CORP. | $12,410,000 | $3,245,000 | -73.9% | 0.5% |
| United Bank | $8,745,000 | $3,240,000 | -63.0% | 0.5% |
| PENTAGON FEDERAL CREDIT UNION | $3,715,000 | $2,975,000 | -19.9% | 0.5% |
| The Federal Savings Bank | $2,685,000 | $2,810,000 | 4.7% | 0.5% |
| Towne Bank | $2,275,000 | $2,435,000 | 7.0% | 0.4% |
| TD Bank | $285,000 | $2,390,000 | 738.6% | 0.4% |
| CMG MORTGAGE, INC. | $2,355,000 | $2,305,000 | -2.1% | 0.4% |
| Mr. Cooper ( Nationstar Mortgage ) | $5,110,000 | $2,305,000 | -54.9% | 0.4% |
| LOCAL GOVERNMENT FEDERAL CREDIT UNION | $14,385,000 | $2,285,000 | -84.1% | 0.4% |
| CARDINAL FINANCIAL | $3,060,000 | $2,185,000 | -28.6% | 0.4% |
| Merchants Capital Corp. | $2,185,000 | n/a | 0.4% | |
| CORNERSTONE HOME LENDING, INC. | $2,890,000 | $2,110,000 | -27.0% | 0.4% |
| AMERISAVE MORTGAGE CORPORATION | $4,330,000 | $2,015,000 | -53.5% | 0.3% |
| Nations Lending Corporation | $865,000 | $2,005,000 | 131.8% | 0.3% |
| Morgan Stanley Private Bank | $680,000 | $1,960,000 | 188.2% | 0.3% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $850,000 | $1,895,000 | 122.9% | 0.3% |
| COASTAL Federal Credit Union | $800,000 | $1,760,000 | 120.0% | 0.3% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $2,550,000 | $1,650,000 | -35.3% | 0.3% |
| AgCarolina Farm Credit, FLCA | $660,000 | $1,495,000 | 126.5% | 0.2% |
| FIRST FLIGHT FEDERAL CREDIT UNION | $2,745,000 | $1,460,000 | -46.8% | 0.2% |
| VILLAGE CAPITAL MORTGAGE | $525,000 | $1,405,000 | 167.6% | 0.2% |
| First Bank | $3,635,000 | $1,330,000 | -63.4% | 0.2% |
| Truliant Federal Credit Union | $600,000 | $1,300,000 | 116.7% | 0.2% |
| Citizens Bank | $1,300,000 | $1,265,000 | -2.7% | 0.2% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $705,000 | $1,180,000 | 67.4% | 0.2% |
| Discover Bank | $595,000 | $1,160,000 | 95.0% | 0.2% |
| Paramount Residential Mortgage Group, Inc. | $290,000 | $1,150,000 | 296.6% | 0.2% |
| Regions Bank | $2,375,000 | $1,055,000 | -55.6% | 0.2% |
| Citibank | $1,050,000 | n/a | 0.2% | |
| EMM LOANS LLC | $205,000 | $1,020,000 | 397.6% | 0.2% |
| PLAZA HOME MORTGAGE, INC. | $500,000 | $1,020,000 | 104.0% | 0.2% |
| RELIANCE FIRST CAPITAL, LLC | $1,470,000 | $1,020,000 | -30.6% | 0.2% |
| Integrity Home Mortgage Corp | $970,000 | n/a | 0.2% | |
| Plains Commerce Bank | $945,000 | n/a | 0.2% | |
| NFM, INC. | $690,000 | $875,000 | 26.8% | 0.1% |
| Fifth Third Bank | $1,640,000 | $855,000 | -47.9% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $1,230,000 | $850,000 | -30.9% | 0.1% |
| SWBC MORTGAGE CORPORATION | $115,000 | $850,000 | 639.1% | 0.1% |
| VELOCIO MORTGAGE L.L.C. | $835,000 | n/a | 0.1% | |
| RAPID MORTGAGE COMPANY | $420,000 | $820,000 | 95.2% | 0.1% |
| WEYCO COMMUNITY CREDIT UNION | $955,000 | $805,000 | -15.7% | 0.1% |
| Prosperity Home Mortgage, LLC | $105,000 | $785,000 | 647.6% | 0.1% |
| LENDINGHOME FUNDING CORPORATION | $225,000 | $755,000 | 235.6% | 0.1% |
| SOUTHERN TRUST MORTGAGE, LLC | $755,000 | n/a | 0.1% | |
| T2 FINANCIAL LLC | $1,335,000 | $745,000 | -44.2% | 0.1% |
| Carrington Mortgage Services, LLC | $1,030,000 | $740,000 | -28.2% | 0.1% |
| HOMESIDE FINANCIAL, LLC | $2,160,000 | $740,000 | -65.7% | 0.1% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $1,710,000 | $735,000 | -57.0% | 0.1% |
| FIRST COMMUNITY MORTGAGE, INC. | $295,000 | $730,000 | 147.5% | 0.1% |
| U.S. Bank | $650,000 | $725,000 | 11.5% | 0.1% |
| GUARANTEED RATE AFFINITY, LLC | $720,000 | n/a | 0.1% | |
| Mid-Continent Funding, Inc. | $490,000 | $685,000 | 39.8% | 0.1% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $535,000 | $685,000 | 28.0% | 0.1% |
| Magnolia Bank | $670,000 | n/a | 0.1% | |
| NBKC BANK | $440,000 | $660,000 | 50.0% | 0.1% |
| United Community Bank | $1,185,000 | $645,000 | -45.6% | 0.1% |
| Old National Bank | $635,000 | n/a | 0.1% | |
| PLANET HOME LENDING, LLC | $1,155,000 | $635,000 | -45.0% | 0.1% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $475,000 | $630,000 | 32.6% | 0.1% |
| Stifel Bank and Trust | $615,000 | n/a | 0.1% | |
| BROKER SOLUTIONS, INC. | $2,955,000 | $600,000 | -79.7% | 0.1% |
| First Savings Bank | $580,000 | n/a | 0.1% | |
| Coastal Bank & Trust | $560,000 | n/a | 0.1% | |
| First Heritage Mortgage, LLC | $520,000 | $560,000 | 7.7% | 0.1% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $660,000 | $560,000 | -15.2% | 0.1% |
| CLEARPATH LENDING | $870,000 | $550,000 | -36.8% | 0.1% |
| Arvest Bank | $440,000 | $545,000 | 23.9% | 0.1% |
| THRIVE MORTGAGE, LLC | $485,000 | $540,000 | 11.3% | 0.1% |
| TRIAD FINANCIAL SERVICES, INC. | $355,000 | $540,000 | 52.1% | 0.1% |
| Wyndham Capital Mortgage, Inc. | $1,305,000 | $540,000 | -58.6% | 0.1% |
| FirstBank | $315,000 | $535,000 | 69.8% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $550,000 | $530,000 | -3.6% | 0.1% |
| FINANCE OF AMERICA REVERSE LLC | $165,000 | $530,000 | 221.2% | 0.1% |
| Northpointe Bank | $360,000 | $530,000 | 47.2% | 0.1% |
| Farmers Bank & Trust | $525,000 | n/a | 0.1% | |
| Figure Lending LLC | $185,000 | $515,000 | 178.4% | 0.1% |
| PHH Mortgage Corporation | $1,095,000 | $510,000 | -53.4% | 0.1% |
| American Airlines Federal Credit Union | $205,000 | $505,000 | 146.3% | 0.1% |
| SUN WEST MORTGAGE COMPANY, INC. | $870,000 | $505,000 | -42.0% | 0.1% |
| The Huntington National Bank | $170,000 | $505,000 | 197.1% | 0.1% |
| SeaTrust Mortgage Company | $500,000 | n/a | 0.1% | |
| HOWARD HANNA FINANCIAL SERVICES, INC. | $495,000 | n/a | 0.1% | |
| CALIBER HOME LOANS, INC. | $8,590,000 | $490,000 | -94.3% | 0.1% |
| ROSS MORTGAGE CORPORATION | $485,000 | n/a | 0.1% | |
| American Mortgage & Equity Consultants, Inc. | $480,000 | n/a | 0.1% | |
| United Fidelity Funding Corp. | $465,000 | n/a | 0.1% | |
| AMERICAN HERITAGE LENDING, INC. | $115,000 | $450,000 | 291.3% | 0.1% |
| SUCCESS MORTGAGE PARTNERS, INC. | $450,000 | n/a | 0.1% | |
| ON Q FINANCIAL, INC. | $445,000 | n/a | 0.1% | |
| CALCON MUTUAL MORTGAGE LLC | $440,000 | n/a | 0.1% | |
| TOWNE MORTGAGE COMPANY | $285,000 | $435,000 | 52.6% | 0.1% |
| LIMA ONE CAPITAL, LLC | $220,000 | $425,000 | 93.2% | 0.1% |
| DOMINION FINANCIAL SERVICES, LLC | $420,000 | n/a | 0.1% | |
| Equity Prime Mortgage LLC | $1,560,000 | $420,000 | -73.1% | 0.1% |
| Skyline National Bank | $415,000 | n/a | 0.1% | |
| AMERICAN HERITAGE FCU | $240,000 | $405,000 | 68.8% | 0.1% |
| First Federal Bank of the Midwest | $405,000 | n/a | 0.1% | |
| RADIUS FINANCIAL GROUP INC. | $145,000 | $395,000 | 172.4% | 0.1% |
| 1st Summit Bank | $375,000 | n/a | 0.1% | |
| North State Bank | $375,000 | n/a | 0.1% | |
| The Freedom Bank of Virginia | $375,000 | n/a | 0.1% | |
| TOP FLITE FINANCIAL, INC. | $1,210,000 | $375,000 | -69.0% | 0.1% |
| MICHIGAN MUTUAL, INC. | $365,000 | n/a | 0.1% | |
| North American Savings Bank, F.S.B. | $925,000 | $365,000 | -60.5% | 0.1% |
| Mortgage Assurance Inc. | $335,000 | $355,000 | 6.0% | 0.1% |
| GoPrime Mortgage, Inc. | $845,000 | $350,000 | -58.6% | 0.1% |
| Ameris Bank | $5,545,000 | $345,000 | -93.8% | 0.1% |
| Evolve Bank & Trust | $345,000 | n/a | 0.1% | |
| NATIONS DIRECT MORTGAGE, LLC | $345,000 | n/a | 0.1% | |
| Waterstone Mortgage Corporation | $85,000 | $340,000 | 300.0% | 0.1% |
| C & F Mortgage Corporation | $335,000 | $335,000 | 0.0% | 0.1% |
| Citizens and Farmers Bank | $335,000 | n/a | 0.1% | |
| FIRST HOME MORTGAGE CORPORATION | $105,000 | $335,000 | 219.0% | 0.1% |
| Alcova Mortgage LLC | $1,125,000 | $330,000 | -70.7% | 0.1% |
| The Central Trust Bank | $315,000 | n/a | 0.1% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $165,000 | $310,000 | 87.9% | 0.1% |
| Sound Bank | $310,000 | n/a | 0.1% | |
| Third Federal Savings and Loan Association of Cleveland | $735,000 | $310,000 | -57.8% | 0.1% |
| Semper Home Loans, Inc. | $305,000 | n/a | 0.1% | |
| ARC HOME LLC | $295,000 | n/a | 0.0% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $295,000 | n/a | 0.0% | |
| City National Bank of Florida | $285,000 | n/a | 0.0% | |
| Quontic Bank | $285,000 | n/a | 0.0% | |
| CONTOUR MORTGAGE CORPORATION | $275,000 | $275,000 | 0.0% | 0.0% |
| RESOURCE FINANCIAL SERVICES, INC. | $275,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $680,000 | $275,000 | -59.6% | 0.0% |
| F&M Bank | $265,000 | n/a | 0.0% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $260,000 | n/a | 0.0% | |
| Abbott Laboratories Employees Credit Union | $255,000 | n/a | 0.0% | |
| FIDELITY BANK | $255,000 | n/a | 0.0% | |
| F & M BANK CORP. | $570,000 | $255,000 | -55.3% | 0.0% |
| FAIR WAY LENDING LLC | $245,000 | n/a | 0.0% | |
| TIDEWATER MORTGAGE SERVICES, INC. | $275,000 | $245,000 | -10.9% | 0.0% |
| Uwharrie Bank | $245,000 | n/a | 0.0% | |
| Brighton Bank | $235,000 | n/a | 0.0% | |
| RESIDENTIAL BANCORP | $235,000 | n/a | 0.0% | |
| Union Savings Bank | $235,000 | n/a | 0.0% | |
| CORNING | $880,000 | $230,000 | -73.9% | 0.0% |
| First Horizon Bank | $3,355,000 | $225,000 | -93.3% | 0.0% |
| AMERICAN FINANCING CORPORATION | $1,830,000 | $215,000 | -88.3% | 0.0% |
| NATIONWIDE MORTGAGE BANKERS, INC. | $215,000 | n/a | 0.0% | |
| SOUTHWEST STAGE FUNDING, LLC | $615,000 | $215,000 | -65.0% | 0.0% |
| SOVEREIGN LENDING GROUP INCORPORATED | $185,000 | $215,000 | 16.2% | 0.0% |
| Commerce Home Mortgage, Inc. | $205,000 | n/a | 0.0% | |
| CSL Financial, LLC | $230,000 | $205,000 | -10.9% | 0.0% |
| Empower Federal Credit Union | $205,000 | n/a | 0.0% | |
| Encompass Lending Group, LP | $205,000 | n/a | 0.0% | |
| Logan Finance Corporation | $205,000 | n/a | 0.0% | |
| Charles Schwab Bank, SSB | $195,000 | n/a | 0.0% | |
| First United Bank and Trust Company | $195,000 | n/a | 0.0% | |
| OCMBC, INC. | $115,000 | $195,000 | 69.6% | 0.0% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $720,000 | $185,000 | -74.3% | 0.0% |
| South State Bank | $670,000 | $180,000 | -73.1% | 0.0% |
| BM Real Estate Services, Inc. | $175,000 | n/a | 0.0% | |
| HOMEXPRESS MORTGAGE CORP. | $135,000 | $175,000 | 29.6% | 0.0% |
| MORTGAGE INVESTORS GROUP, INC. | $175,000 | n/a | 0.0% | |
| The Fidelity Bank | $175,000 | n/a | 0.0% | |
| PREMIER LENDING, INC. | $650,000 | $170,000 | -73.8% | 0.0% |
| GSF Mortgage Corporation | $355,000 | $165,000 | -53.5% | 0.0% |
| POLARIS HOME FUNDING CORP. | $165,000 | n/a | 0.0% | |
| S1L, Inc. | $165,000 | n/a | 0.0% | |
| ZILLOW HOME LOANS, LLC | $460,000 | $165,000 | -64.1% | 0.0% |
| NEXTMARK | $155,000 | n/a | 0.0% | |
| Axos Bank | $370,000 | $145,000 | -60.8% | 0.0% |
| Bank of England | $145,000 | n/a | 0.0% | |
| COMMUNITYAMERICA | $135,000 | n/a | 0.0% | |
| Signature Federal Credit Union | $135,000 | n/a | 0.0% | |
| ROYAL UNITED MORTGAGE LLC | $210,000 | $130,000 | -38.1% | 0.0% |
| HOMEOWNERS FINANCIAL GROUP USA, LLC | $125,000 | n/a | 0.0% | |
| ISERVE RESIDENTIAL LENDING, LLC | $125,000 | n/a | 0.0% | |
| NATIONWIDE EQUITIES CORPORATION | $125,000 | n/a | 0.0% | |
| RUOFF MORTGAGE COMPANY, INC. | $115,000 | n/a | 0.0% | |
| AMERICAN FEDERAL MORTGAGE CORPORATION | $105,000 | n/a | 0.0% | |
| AMWEST FUNDING CORP. | $85,000 | n/a | 0.0% | |
| Bell Bank | $155,000 | $75,000 | -51.6% | 0.0% |
| EVANSVILLE TEACHERS | $75,000 | n/a | 0.0% | |
| First Internet Bank of Indiana | $205,000 | $75,000 | -63.4% | 0.0% |
| MASSMUTUAL | $75,000 | n/a | 0.0% | |
| American National Bank and Trust Company | $705,000 | $65,000 | -90.8% | 0.0% |
| CHARLOTTE METRO FEDERAL CREDIT UNION | $45,000 | n/a | 0.0% | |
| UNITED | $45,000 | n/a | 0.0% | |
| AGRICULTURE Federal Credit Union | $35,000 | n/a | 0.0% | |
| Marine Federal Credit Union | $950,000 | $25,000 | -97.4% | 0.0% |
NEW BERN's top lender by overall market share is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with 10.5% market share. In second place, with 7.9%, is First-Citizens Bank & Trust Company, having originated $47,730,000 in loans. In third place, with 7.3%, is NAVY FEDERAL CREDIT UNION, having originated $43,765,000 in loans. In fourth place, with 6.3%, is STATE EMPLOYEES', having originated $38,090,000 in loans. In fifth place, with 5.9%, is GUARANTEED RATE, INC., having originated $35,210,000 in loans.
NEW BERN, NC Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,726 | $442,350,000 | $256,286 |
| Other | 401 | $37,025,000 | $92,332 |
| Cash Out Refi | 298 | $63,480,000 | $213,020 |
| Home Improvement | 254 | $20,970,000 | $82,559 |
| Refi | 197 | $36,675,000 | $186,168 |
New Bern's most frequently cited loan purpose was Home Purchase, with 1,726 originations. The 2nd most popular reason was Other, with 401 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 988 | $242,870,000 | $245,820 |
| 7-8% | 642 | $119,400,000 | $185,981 |
| 5-6% | 587 | $154,315,000 | $262,888 |
| Over 8% | 409 | $46,695,000 | $114,169 |
| 4-5% | 145 | $22,895,000 | $157,897 |
| <2.5% | 64 | $3,400,000 | $53,125 |
| 3-4% | 5 | $925,000 | $185,000 |
| 2.5-3% | 1 | $145,000 | $145,000 |
During 2023, New Bern's most frequently originated rate bucket was 6-7%, with 988 originations.
Loan Sizing (NEW BERN, NC MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 1,168 | $325,710,000 | $278,861 |
| $100k-200k | 760 | $111,570,000 | $146,803 |
| $100,000 or less | 722 | $38,770,000 | $53,698 |
| $400k-600k | 180 | $83,710,000 | $465,056 |
| $600k-1000k | 39 | $28,495,000 | $730,641 |
| $Over $1MM | 7 | $12,245,000 | $1,749,286 |
NEW BERN's loan sizing saw the bucket of loans from $200k-400k with 1,168 originations, totaling $325,710,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 1,191 | $323,475,000 | $271,599 |
| 60-80% | 470 | $120,700,000 | $256,809 |
| Under 20% | 405 | $19,235,000 | $47,494 |
| 20-40% | 398 | $43,220,000 | $108,593 |
| 40-60% | 231 | $40,765,000 | $176,472 |
| Over 100% | 141 | $42,325,000 | $300,177 |
NEW BERN's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,191 originations, totaling $323,475,000 in origination value.