North Vernon Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in North Vernon averaged
6.7%
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
6.83% and
one month ago for the week of 2024-10-03, the
average rate was 6.33%.
North Vernon's average rate one year ago was 8.07%.
For refis of the same type during the week of 2024-11-07, the average rate
was 6.99%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| North Vernon 30 Year Fixed Rate | 2024-11-07 | 6.7% |
| North Vernon 30 Year Fixed Rate Refi | 2024-11-07 | 6.99% |
| North Vernon 15 Year Fixed Rate | 2024-11-07 | 5.8% |
| North Vernon 15 Year Fixed Rate Refi | 2024-11-07 | 6% |
| North Vernon 30 Year FHA | 2024-11-07 | 6.43% |
| North Vernon 30 Year FHA Refi | 2024-11-07 | 6.53% |
| North Vernon 30 Year USDA | 2024-11-07 | 6.48% |
| North Vernon 30 Year USDA Refi | 2024-11-07 | 6.58% |
| North Vernon 30 Year VA | 2024-11-07 | 6.34% |
| North Vernon 30 Year VA Refi | 2024-11-07 | 6.34% |
North Vernon 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 North Vernon, IN 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.).
North Vernon Average Closing Costs & Other Stats
North Vernon, IN's 43 lenders originated 570
loans during 2023. The total origination value was $79,180,000, with an average loan value of
$138,912.
North Vernon's average closing costs are $3,925.
The top North Vernon lender as defined by loan originations is Centra Credit Union, with
39 loans originated. Their average total fees are
$2,753, which is $972
lower than the next largest lender,
Jackson County Bank.
The lowest fee North Vernon lenders (with over 10 loans originated) are
First Financial Bank ($2,710), Centra Credit Union ($2,753), Jackson County Bank ($3,725), GVC MORTGAGE, INC. ($4,459) and .
The lowest rate North Vernon lenders (with over 10 loans originated) are
Jackson County Bank (6.40%), Centra Credit Union (6.58%), First Financial Bank (7.16%), GVC MORTGAGE, INC. (7.23%) and .
North Vernon, IN 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 |
|---|---|---|---|---|
| Centra Credit Union | $15,345,000 | $13,800,000 | -10.1% | 17.4% |
| Jackson County Bank | $8,260,000 | $8,765,000 | 6.1% | 11.1% |
| First Financial Bank | $6,230,000 | $8,275,000 | 32.8% | 10.5% |
| GVC MORTGAGE, INC. | $2,755,000 | $5,665,000 | 105.6% | 7.2% |
| German American Bank | $3,490,000 | $4,835,000 | 38.5% | 6.1% |
| QUICKEN LOANS, LLC | $5,530,000 | $3,095,000 | -44.0% | 3.9% |
| DIRECT MORTGAGE LOANS, LLC | $2,100,000 | $2,835,000 | 35.0% | 3.6% |
| Wolfe Financial, Inc | $3,240,000 | $2,790,000 | -13.9% | 3.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,060,000 | $1,795,000 | 69.3% | 2.3% |
| Old National Bank | $2,600,000 | $1,495,000 | -42.5% | 1.9% |
| Farm Credit Mid-America, ACA | $1,490,000 | n/a | 1.9% | |
| RUOFF MORTGAGE COMPANY, INC. | $4,175,000 | $1,455,000 | -65.1% | 1.8% |
| PNC Bank | $2,515,000 | $1,140,000 | -54.7% | 1.4% |
| Regions Bank | $1,075,000 | n/a | 1.4% | |
| HALLMARK HOME MORTGAGE, LLC | $1,695,000 | $955,000 | -43.7% | 1.2% |
| TEACHERS CREDIT UNION | $35,000 | $785,000 | 2,142.9% | 1.0% |
| Mortgage Research Center, LLC | $890,000 | $780,000 | -12.4% | 1.0% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,045,000 | $770,000 | -26.3% | 1.0% |
| LOANDEPOT.COM, LLC | $635,000 | $705,000 | 11.0% | 0.9% |
| NEWREZ LLC | $210,000 | $680,000 | 223.8% | 0.9% |
| 21ST MORTGAGE CORPORATION | $300,000 | $670,000 | 123.3% | 0.8% |
| FIRST COMMUNITY MORTGAGE, INC. | $85,000 | $650,000 | 664.7% | 0.8% |
| Mr. Cooper ( Nationstar Mortgage ) | $835,000 | $645,000 | -22.8% | 0.8% |
| Nations Lending Corporation | $295,000 | $640,000 | 116.9% | 0.8% |
| The Friendship State Bank | $565,000 | $570,000 | 0.9% | 0.7% |
| NAVY FEDERAL CREDIT UNION | $445,000 | $540,000 | 21.3% | 0.7% |
| Union Savings Bank | $470,000 | $520,000 | 10.6% | 0.7% |
| CROSSCOUNTRY MORTGAGE, LLC | $595,000 | $515,000 | -13.4% | 0.7% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $480,000 | n/a | 0.6% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $205,000 | $435,000 | 112.2% | 0.5% |
| The Huntington National Bank | $580,000 | $430,000 | -25.9% | 0.5% |
| STAR Financial Bank | $425,000 | n/a | 0.5% | |
| AMERISAVE MORTGAGE CORPORATION | $720,000 | $420,000 | -41.7% | 0.5% |
| The Farmers Bank of Milton | $310,000 | $420,000 | 35.5% | 0.5% |
| MJW Financial LLC | $400,000 | n/a | 0.5% | |
| CALIBER HOME LOANS, INC. | $530,000 | $395,000 | -25.5% | 0.5% |
| BROKER SOLUTIONS, INC. | $290,000 | $355,000 | 22.4% | 0.4% |
| GENEVA FINANCIAL, LLC | $350,000 | n/a | 0.4% | |
| Prosperity Home Mortgage, LLC | $295,000 | $350,000 | 18.6% | 0.4% |
| SUCCESS MORTGAGE PARTNERS, INC. | $145,000 | $350,000 | 141.4% | 0.4% |
| UNION HOME MORTGAGE CORP. | $440,000 | $340,000 | -22.7% | 0.4% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $105,000 | $330,000 | 214.3% | 0.4% |
| USAA Federal Savings Bank | $325,000 | n/a | 0.4% | |
| FREEDOM MORTGAGE CORPORATION | $915,000 | $310,000 | -66.1% | 0.4% |
| CMG MORTGAGE, INC. | $305,000 | n/a | 0.4% | |
| PENNYMAC LOAN SERVICES, LLC | $510,000 | $300,000 | -41.2% | 0.4% |
| Wells Fargo Bank | $310,000 | $290,000 | -6.5% | 0.4% |
| EVERETT FINANCIAL, INC. | $245,000 | n/a | 0.3% | |
| Mutual Federal Bank | $235,000 | n/a | 0.3% | |
| Equity Prime Mortgage LLC | $225,000 | n/a | 0.3% | |
| First Option Mortgage, LLC | $225,000 | n/a | 0.3% | |
| Century Mortgage Company DBA Century Lending Company | $215,000 | n/a | 0.3% | |
| ROYAL UNITED MORTGAGE LLC | $225,000 | $210,000 | -6.7% | 0.3% |
| FAIR WAY LENDING LLC | $215,000 | $195,000 | -9.3% | 0.2% |
| JPMorgan Chase Bank | $300,000 | $185,000 | -38.3% | 0.2% |
| Blue Ridge Bank | $165,000 | n/a | 0.2% | |
| Discover Bank | $160,000 | n/a | 0.2% | |
| 1ST SIGNATURE LENDING, LLC | $155,000 | n/a | 0.2% | |
| Barrington Bank & Trust Company, N.A. | $245,000 | $155,000 | -36.7% | 0.2% |
| U.S. Bank | $565,000 | $155,000 | -72.6% | 0.2% |
| DIAMOND RESIDENTIAL MORTGAGE CORPORATION | $145,000 | n/a | 0.2% | |
| The Farmers & Merchants State Bank | $35,000 | $145,000 | 314.3% | 0.2% |
| AMERICAN FINANCIAL RESOURCES, INC. | $105,000 | $135,000 | 28.6% | 0.2% |
| BOONVILLE FEDERAL SAVINGS BANK | $135,000 | n/a | 0.2% | |
| Carrington Mortgage Services, LLC | $315,000 | $135,000 | -57.1% | 0.2% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $135,000 | n/a | 0.2% | |
| Willamette Valley Bank | $135,000 | n/a | 0.2% | |
| FORUM Credit Union | $405,000 | $125,000 | -69.1% | 0.2% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $115,000 | n/a | 0.1% | |
| PENTAGON FEDERAL CREDIT UNION | $95,000 | n/a | 0.1% | |
| First Savings Bank | $65,000 | n/a | 0.1% | |
| LOANPAL, LLC | $145,000 | $65,000 | -55.2% | 0.1% |
| Figure Lending LLC | $60,000 | n/a | 0.1% | |
| Fifth Third Bank | $565,000 | $55,000 | -90.3% | 0.1% |
| WesBanco | $55,000 | n/a | 0.1% | |
| INDIANA MEMBERS CREDIT UNION | $45,000 | n/a | 0.1% | |
| First Merchants Bank | $2,275,000 | $25,000 | -98.9% | 0.0% |
| Civista Bank | $15,000 | n/a | 0.0% |
North Vernon's top lender by overall market share is Centra Credit Union, with 17.4% market share. In second place, with 11.1%, is Jackson County Bank, having originated $8,765,000 in loans. In third place, with 10.5%, is First Financial Bank, having originated $8,275,000 in loans. In fourth place, with 7.2%, is GVC MORTGAGE, INC., having originated $5,665,000 in loans. In fifth place, with 6.1%, is German American Bank, having originated $4,835,000 in loans.
North Vernon, IN Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 252 | $47,350,000 | $187,897 |
| Cash Out Refi | 104 | $13,160,000 | $126,538 |
| Other | 92 | $6,660,000 | $72,391 |
| Home Improvement | 71 | $5,395,000 | $75,986 |
| Refi | 51 | $6,615,000 | $129,706 |
North Vernon's most frequently cited loan purpose was Home Purchase, with 252 originations. The 2nd most popular reason was Cash Out Refi, with 104 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 201 | $29,605,000 | $147,289 |
| 7-8% | 167 | $27,065,000 | $162,066 |
| 5-6% | 94 | $13,250,000 | $140,957 |
| Over 8% | 58 | $4,600,000 | $79,310 |
| <2.5% | 25 | $2,535,000 | $101,400 |
| 4-5% | 14 | $1,240,000 | $88,571 |
| 2.5-3% | 3 | $155,000 | $51,667 |
| 3-4% | 1 | $45,000 | $45,000 |
During 2023, North Vernon's most frequently originated rate bucket was 6-7%, with 201 originations.
Loan Sizing (North Vernon, IN MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 229 | $11,625,000 | $50,764 |
| $100k-200k | 221 | $32,875,000 | $148,756 |
| $200k-400k | 104 | $26,090,000 | $250,865 |
| $400k-600k | 11 | $4,825,000 | $438,636 |
| $600k-1000k | 4 | $2,690,000 | $672,500 |
| $Over $1MM | 1 | $1,075,000 | $1,075,000 |
North Vernon's loan sizing saw the bucket of loans from $100,000 or less with 229 originations, totaling $11,625,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 219 | $42,585,000 | $194,452 |
| 20-40% | 104 | $7,870,000 | $75,673 |
| Under 20% | 97 | $3,155,000 | $32,526 |
| 60-80% | 84 | $16,630,000 | $197,976 |
| 40-60% | 57 | $7,015,000 | $123,070 |
| Over 100% | 3 | $1,105,000 | $368,333 |
North Vernon's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 219 originations, totaling $42,585,000 in origination value.