Newberry Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Newberry averaged
6.73%
for the week of 2024-10-24, compared to the national average of
6.54% for the same period.
The average rate for the prior week (2024-10-17) was
6.33% and
one month ago for the week of 2024-09-19, the
average rate was 5.88%.
Newberry's average rate one year ago was 7.42%.
For refis of the same type during the week of 2024-10-24, the average rate
was 7.14%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-24 | 6.54% |
Newberry 30 Year Fixed Rate | 2024-10-24 | 6.73% |
Newberry 30 Year Fixed Rate Refi | 2024-10-24 | 7.14% |
Newberry 15 Year Fixed Rate | 2024-10-24 | 5.81% |
Newberry 15 Year Fixed Rate Refi | 2024-10-24 | 6.31% |
Newberry 30 Year FHA | 2024-10-24 | 6.35% |
Newberry 30 Year FHA Refi | 2024-10-24 | 6.25% |
Newberry 30 Year USDA | 2024-10-24 | 6.29% |
Newberry 30 Year USDA Refi | 2024-10-24 | 6.49% |
Newberry 30 Year VA | 2024-10-24 | 6.34% |
Newberry 30 Year VA Refi | 2024-10-24 | 6.24% |
Newberry 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 Newberry, SC 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.).
Newberry Average Closing Costs & Other Stats
Newberry, SC's 62 lenders originated 522
loans during 2023. The total origination value was $117,230,000, with an average loan value of
$224,579.
Newberry's average closing costs are $5,360.
The top Newberry lender as defined by loan originations is QUICKEN LOANS, LLC, with
14 loans originated. Their average total fees are
$6,937, which is $600
higher than the next largest lender,
GUILD MORTGAGE COMPANY.
The lowest fee Newberry lenders (with over 10 loans originated) are
GUILD MORTGAGE COMPANY ($6,337), Ameris Bank ($6,532), QUICKEN LOANS, LLC ($6,937), .
The lowest rate Newberry lenders (with over 10 loans originated) are
GUILD MORTGAGE COMPANY (6.46%), QUICKEN LOANS, LLC (6.75%), Ameris Bank (6.87%), .
Newberry, SC 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 |
---|---|---|---|---|
First Community Bank | $4,785,000 | $6,625,000 | 38.5% | 5.7% |
Ameris Bank | $4,520,000 | $6,400,000 | 41.6% | 5.5% |
QUICKEN LOANS, LLC | $9,460,000 | $6,045,000 | -36.1% | 5.2% |
GUILD MORTGAGE COMPANY | $6,385,000 | $5,320,000 | -16.7% | 4.5% |
First-Citizens Bank & Trust Company | $4,580,000 | $5,125,000 | 11.9% | 4.4% |
CARDINAL FINANCIAL | $2,185,000 | $4,565,000 | 108.9% | 3.9% |
UNITED WHOLESALE MORTGAGE, LLC | $1,670,000 | $4,445,000 | 166.2% | 3.8% |
TD Bank | $4,785,000 | $3,805,000 | -20.5% | 3.2% |
AgFirst Farm Credit Bank | $7,895,000 | $3,775,000 | -52.2% | 3.2% |
CROSSCOUNTRY MORTGAGE, LLC | $2,300,000 | $3,710,000 | 61.3% | 3.2% |
DHI MORTGAGE COMPANY, LTD. | $5,625,000 | $3,455,000 | -38.6% | 2.9% |
MOVEMENT MORTGAGE, LLC | $3,395,000 | $3,420,000 | 0.7% | 2.9% |
Security Federal Bank | $4,015,000 | $3,305,000 | -17.7% | 2.8% |
Truist | $7,985,000 | $2,955,000 | -63.0% | 2.5% |
South State Bank | $8,990,000 | $2,840,000 | -68.4% | 2.4% |
GUARANTEED RATE AFFINITY, LLC | $1,480,000 | $2,610,000 | 76.4% | 2.2% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $2,215,000 | $2,375,000 | 7.2% | 2.0% |
Renasant Bank | $1,655,000 | $1,920,000 | 16.0% | 1.6% |
21ST MORTGAGE CORPORATION | $1,595,000 | $1,695,000 | 6.3% | 1.4% |
First Palmetto Bank | $285,000 | $1,675,000 | 487.7% | 1.4% |
Mortgage Research Center, LLC | $965,000 | $1,345,000 | 39.4% | 1.1% |
SAFE FEDERAL CREDIT UNION | $350,000 | $1,275,000 | 264.3% | 1.1% |
ALLSOUTH | $2,175,000 | $1,270,000 | -41.6% | 1.1% |
FBC MORTGAGE, LLC | $1,270,000 | n/a | 1.1% | |
UNION HOME MORTGAGE CORP. | $300,000 | $1,250,000 | 316.7% | 1.1% |
Wells Fargo Bank | $1,280,000 | $1,180,000 | -7.8% | 1.0% |
FREEDOM MORTGAGE CORPORATION | $3,090,000 | $1,160,000 | -62.5% | 1.0% |
First Reliance Bank | $585,000 | $1,090,000 | 86.3% | 0.9% |
Mr. Cooper ( Nationstar Mortgage ) | $1,190,000 | $1,090,000 | -8.4% | 0.9% |
Network Funding, L.P. | $2,910,000 | $965,000 | -66.8% | 0.8% |
LOANDEPOT.COM, LLC | $700,000 | $945,000 | 35.0% | 0.8% |
S. C. STATE FEDERAL CREDIT UNION | $1,235,000 | $945,000 | -23.5% | 0.8% |
DELMAR FINANCIAL COMPANY | $940,000 | n/a | 0.8% | |
Bank of America | $1,045,000 | $910,000 | -12.9% | 0.8% |
ANGEL OAK MORTGAGE SOLUTIONS LLC | $860,000 | n/a | 0.7% | |
Palmetto Citizens Federal Credit Union | $1,880,000 | $860,000 | -54.3% | 0.7% |
Dollar Bank, Federal Savings Bank | $285,000 | $810,000 | 184.2% | 0.7% |
BMO Harris Bank | $55,000 | $755,000 | 1,272.7% | 0.6% |
Carrington Mortgage Services, LLC | $585,000 | $720,000 | 23.1% | 0.6% |
FOUNDERS FEDERAL CREDIT UNION | $1,020,000 | $670,000 | -34.3% | 0.6% |
RESOURCE FINANCIAL SERVICES, INC. | $420,000 | $670,000 | 59.5% | 0.6% |
MIDLAND MORTGAGE CORPORATION | $805,000 | $660,000 | -18.0% | 0.6% |
NTFN, INC. | $650,000 | n/a | 0.6% | |
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $300,000 | $605,000 | 101.7% | 0.5% |
First Piedmont Federal Savings and Loan Association of Gaffney | $595,000 | n/a | 0.5% | |
PENNYMAC LOAN SERVICES, LLC | $1,885,000 | $585,000 | -69.0% | 0.5% |
MASS. INSTITUTE OF TECH. FEDERAL CREDIT UNION | $575,000 | n/a | 0.5% | |
Synovus Bank | $1,430,000 | $570,000 | -60.1% | 0.5% |
INTERCOASTAL MORTGAGE COMPANY | $415,000 | $535,000 | 28.9% | 0.5% |
United Community Bank | $1,675,000 | $495,000 | -70.4% | 0.4% |
NAVY FEDERAL CREDIT UNION | $620,000 | $485,000 | -21.8% | 0.4% |
RUOFF MORTGAGE COMPANY, INC. | $485,000 | n/a | 0.4% | |
1ST SIGNATURE LENDING, LLC | $480,000 | n/a | 0.4% | |
First Bank | $480,000 | n/a | 0.4% | |
ACOPIA, LLC | $1,050,000 | $470,000 | -55.2% | 0.4% |
Gateway First Bank | $455,000 | n/a | 0.4% | |
The Peoples Bank | $105,000 | $430,000 | 309.5% | 0.4% |
NEW DAY FINANCIAL, LLC | $1,610,000 | $410,000 | -74.5% | 0.3% |
NEWREZ LLC | $780,000 | $410,000 | -47.4% | 0.3% |
Southern First Bank | $630,000 | $405,000 | -35.7% | 0.3% |
Commerce Home Mortgage, Inc. | $395,000 | n/a | 0.3% | |
AMERICAN PACIFIC MORTGAGE CORPORATION | $375,000 | n/a | 0.3% | |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $1,280,000 | $370,000 | -71.1% | 0.3% |
LIMA ONE CAPITAL, LLC | $555,000 | $365,000 | -34.2% | 0.3% |
Regions Bank | $2,825,000 | $345,000 | -87.8% | 0.3% |
SOUTH CAROLINA FEDERAL CREDIT UNION | $75,000 | $345,000 | 360.0% | 0.3% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,235,000 | $305,000 | -75.3% | 0.3% |
Morgan Stanley Private Bank | $555,000 | $305,000 | -45.0% | 0.3% |
CMG MORTGAGE, INC. | $475,000 | $300,000 | -36.8% | 0.3% |
Bank Iowa | $295,000 | n/a | 0.3% | |
Citizens Bank | $265,000 | n/a | 0.2% | |
ON Q FINANCIAL, INC. | $155,000 | $265,000 | 71.0% | 0.2% |
TOWNE MORTGAGE COMPANY | $370,000 | $255,000 | -31.1% | 0.2% |
VILLAGE CAPITAL MORTGAGE | $245,000 | n/a | 0.2% | |
RELIANCE FIRST CAPITAL, LLC | $235,000 | n/a | 0.2% | |
LEADERONE FINANCIAL CORPORATION | $225,000 | n/a | 0.2% | |
MORTGAGE SOLUTIONS OF COLORADO, LLC | $165,000 | $205,000 | 24.2% | 0.2% |
EMBRACE HOME LOANS, INC. | $195,000 | n/a | 0.2% | |
SOUTHPOINT FINANCIAL SERVICES, INC. | $195,000 | n/a | 0.2% | |
THRIVE MORTGAGE, LLC | $405,000 | $195,000 | -51.9% | 0.2% |
CSL Financial, LLC | $65,000 | $190,000 | 192.3% | 0.2% |
EMM LOANS LLC | $185,000 | n/a | 0.2% | |
AMERISAVE MORTGAGE CORPORATION | $940,000 | $175,000 | -81.4% | 0.1% |
ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $1,900,000 | $175,000 | -90.8% | 0.1% |
LAKEVIEW LOAN SERVICING, LLC | $165,000 | $175,000 | 6.1% | 0.1% |
Flagstar Bank, FSB | $555,000 | $170,000 | -69.4% | 0.1% |
United Bank | $300,000 | $165,000 | -45.0% | 0.1% |
LOANPAL, LLC | $145,000 | n/a | 0.1% | |
PNC Bank | $260,000 | $145,000 | -44.2% | 0.1% |
EVERETT FINANCIAL, INC. | $135,000 | n/a | 0.1% | |
Arthur State Bank | $1,315,000 | $130,000 | -90.1% | 0.1% |
GUARANTEED RATE, INC. | $1,270,000 | $125,000 | -90.2% | 0.1% |
Paramount Residential Mortgage Group, Inc. | $125,000 | n/a | 0.1% | |
SOUTHWEST STAGE FUNDING, LLC | $175,000 | $125,000 | -28.6% | 0.1% |
Discover Bank | $100,000 | n/a | 0.1% | |
BROKER SOLUTIONS, INC. | $1,365,000 | $95,000 | -93.0% | 0.1% |
COUNTRYPLACE MORTGAGE, LTD. | $125,000 | $95,000 | -24.0% | 0.1% |
TOP FLITE FINANCIAL, INC. | $95,000 | n/a | 0.1% | |
UTILITIES EMPLOYEES CREDIT UNION | $125,000 | $95,000 | -24.0% | 0.1% |
PENTAGON FEDERAL CREDIT UNION | $105,000 | $85,000 | -19.0% | 0.1% |
Barrington Bank & Trust Company, N.A. | $85,000 | $75,000 | -11.8% | 0.1% |
First Bank Richmond | $65,000 | n/a | 0.1% | |
Bank of Travelers Rest | $55,000 | n/a | 0.0% | |
ROYAL UNITED MORTGAGE LLC | $485,000 | $55,000 | -88.7% | 0.0% |
S. C. TELCO | $210,000 | $35,000 | -83.3% | 0.0% |
SPRING EQ, LLC | $185,000 | $35,000 | -81.1% | 0.0% |
Newberry's top lender by overall market share is First Community Bank, with 5.7% market share. In second place, with 5.5%, is Ameris Bank, having originated $6,400,000 in loans. In third place, with 5.2%, is QUICKEN LOANS, LLC, having originated $6,045,000 in loans. In fourth place, with 4.5%, is GUILD MORTGAGE COMPANY, having originated $5,320,000 in loans. In fifth place, with 4.4%, is First-Citizens Bank & Trust Company, having originated $5,125,000 in loans.
Newberry, SC Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 352 | $94,840,000 | $269,432 |
Cash Out Refi | 48 | $8,410,000 | $175,208 |
Home Improvement | 47 | $4,795,000 | $102,021 |
Other | 40 | $3,800,000 | $95,000 |
Refi | 35 | $5,385,000 | $153,857 |
Newberry's most frequently cited loan purpose was Home Purchase, with 352 originations. The 2nd most popular reason was Cash Out Refi, with 48 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 183 | $46,325,000 | $253,142 |
7-8% | 139 | $32,565,000 | $234,281 |
Over 8% | 84 | $11,640,000 | $138,571 |
5-6% | 83 | $20,955,000 | $252,470 |
4-5% | 24 | $4,780,000 | $199,167 |
3-4% | 4 | $440,000 | $110,000 |
<2.5% | 1 | $5,000 | $5,000 |
During 2023, Newberry's most frequently originated rate bucket was 6-7%, with 183 originations.
Loan Sizing (Newberry, SC MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 169 | $24,925,000 | $147,485 |
$200k-400k | 159 | $44,575,000 | $280,346 |
$100,000 or less | 124 | $7,720,000 | $62,258 |
$400k-600k | 39 | $18,525,000 | $475,000 |
$600k-1000k | 30 | $20,460,000 | $682,000 |
$Over $1MM | 1 | $1,025,000 | $1,025,000 |
Newberry's loan sizing saw the bucket of loans from $100k-200k with 169 originations, totaling $24,925,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 246 | $63,890,000 | $259,715 |
60-80% | 100 | $29,290,000 | $292,900 |
20-40% | 62 | $7,270,000 | $117,258 |
40-60% | 54 | $10,500,000 | $194,444 |
Under 20% | 43 | $2,605,000 | $60,581 |
Over 100% | 8 | $2,820,000 | $352,500 |
Newberry's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 246 originations, totaling $63,890,000 in origination value.