Norwalk Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Norwalk averaged
6.78%
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
6.91% and
one month ago for the week of 2024-10-03, the
average rate was 6.01%.
Norwalk's average rate one year ago was 7.95%.
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% |
| Norwalk 30 Year Fixed Rate | 2024-11-07 | 6.78% |
| Norwalk 30 Year Fixed Rate Refi | 2024-11-07 | 7.09% |
| Norwalk 15 Year Fixed Rate | 2024-11-07 | 5.9% |
| Norwalk 15 Year Fixed Rate Refi | 2024-11-07 | 6.1% |
| Norwalk 30 Year FHA | 2024-11-07 | 6.79% |
| Norwalk 30 Year FHA Refi | 2024-11-07 | 6.23% |
| Norwalk 30 Year USDA | 2024-11-07 | 6.38% |
| Norwalk 30 Year USDA Refi | 2024-11-07 | 6.38% |
| Norwalk 30 Year VA | 2024-11-07 | 6.14% |
| Norwalk 30 Year VA Refi | 2024-11-07 | 6.24% |
Norwalk 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 Norwalk, OH 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.).
Norwalk Average Closing Costs & Other Stats
Norwalk, OH's 51 lenders originated 821
loans during 2023. The total origination value was $115,935,000, with an average loan value of
$141,212.
Norwalk's average closing costs are $4,574.
The top Norwalk lender as defined by loan originations is UNION HOME MORTGAGE CORP., with
38 loans originated. Their average total fees are
$6,122, which is $281
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Norwalk lenders (with over 10 loans originated) are
The Croghan Colonial Bank ($3,533), Civista Bank ($3,691), First Federal Bank of the Midwest ($3,780), KeyBank ($4,031) and CROSSCOUNTRY MORTGAGE, LLC ($6,056).
The lowest rate Norwalk lenders (with over 10 loans originated) are
The Croghan Colonial Bank (6.19%), Civista Bank (6.49%), KeyBank (6.83%), QUICKEN LOANS, LLC (6.95%) and First Federal Bank of the Midwest (6.99%).
Norwalk, OH 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 |
|---|---|---|---|---|
| QUICKEN LOANS, LLC | $16,710,000 | $11,220,000 | -32.9% | 9.7% |
| UNION HOME MORTGAGE CORP. | $12,055,000 | $11,020,000 | -8.6% | 9.5% |
| CROSSCOUNTRY MORTGAGE, LLC | $5,415,000 | $7,700,000 | 42.2% | 6.6% |
| Civista Bank | $10,905,000 | $6,930,000 | -36.5% | 6.0% |
| First Federal Bank of the Midwest | $5,275,000 | $6,925,000 | 31.3% | 6.0% |
| KeyBank | $9,965,000 | $6,710,000 | -32.7% | 5.8% |
| PNC Bank | $9,495,000 | $5,950,000 | -37.3% | 5.1% |
| The Huntington National Bank | $7,765,000 | $5,245,000 | -32.5% | 4.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $5,800,000 | $2,405,000 | -58.5% | 2.1% |
| AG Credit, Agricultural Credit Association | $3,590,000 | $2,220,000 | -38.2% | 1.9% |
| UNITED WHOLESALE MORTGAGE, LLC | $4,560,000 | $2,195,000 | -51.9% | 1.9% |
| Mortgage Research Center, LLC | $3,130,000 | $2,055,000 | -34.3% | 1.8% |
| YOUR HOME FINANCIAL LLC | $1,605,000 | $1,720,000 | 7.2% | 1.5% |
| The Croghan Colonial Bank | $2,895,000 | $1,500,000 | -48.2% | 1.3% |
| Farm Credit Mid-America, ACA | $940,000 | $1,450,000 | 54.3% | 1.3% |
| Mechanics Bank | $2,495,000 | $1,325,000 | -46.9% | 1.1% |
| PLAZA HOME MORTGAGE, INC. | $590,000 | $1,315,000 | 122.9% | 1.1% |
| LOANDEPOT.COM, LLC | $2,935,000 | $1,250,000 | -57.4% | 1.1% |
| First National Bank of Bellevue | $1,140,000 | $1,245,000 | 9.2% | 1.1% |
| First Federal Savings and Loan Association of Lakewood | $3,485,000 | $1,210,000 | -65.3% | 1.0% |
| Fifth Third Bank | $2,275,000 | $1,145,000 | -49.7% | 1.0% |
| First Federal Savings and Loan Association of Lorain | $1,820,000 | $1,090,000 | -40.1% | 0.9% |
| Dollar Bank, Federal Savings Bank | $240,000 | $1,055,000 | 339.6% | 0.9% |
| RUOFF MORTGAGE COMPANY, INC. | $570,000 | $1,045,000 | 83.3% | 0.9% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $165,000 | $1,000,000 | 506.1% | 0.9% |
| Directions Credit Union, Inc. | $1,485,000 | $990,000 | -33.3% | 0.9% |
| The Park National Bank | $435,000 | $990,000 | 127.6% | 0.9% |
| UNION CAPITAL MORTGAGE CORPORATION | $900,000 | n/a | 0.8% | |
| NAVY FEDERAL CREDIT UNION | $1,490,000 | $845,000 | -43.3% | 0.7% |
| Sutton Bank | $2,305,000 | $825,000 | -64.2% | 0.7% |
| NORTHERN MORTGAGE SERVICES, LLC | $395,000 | $805,000 | 103.8% | 0.7% |
| The Apple Creek Banking Company | $765,000 | n/a | 0.7% | |
| BROKER SOLUTIONS, INC. | $1,355,000 | $735,000 | -45.8% | 0.6% |
| Northwest Bank | $670,000 | $650,000 | -3.0% | 0.6% |
| NFM, INC. | $155,000 | $635,000 | 309.7% | 0.5% |
| RELIANCE FIRST CAPITAL, LLC | $375,000 | $625,000 | 66.7% | 0.5% |
| S&T Bank | $425,000 | $625,000 | 47.1% | 0.5% |
| ZILLOW HOME LOANS, LLC | $185,000 | $625,000 | 237.8% | 0.5% |
| VILLAGE CAPITAL MORTGAGE | $610,000 | n/a | 0.5% | |
| CMG MORTGAGE, INC. | $600,000 | n/a | 0.5% | |
| Citizens Bank | $560,000 | $515,000 | -8.0% | 0.4% |
| Nations Lending Corporation | $135,000 | $495,000 | 266.7% | 0.4% |
| Third Federal Savings and Loan Association of Cleveland | $1,265,000 | $485,000 | -61.7% | 0.4% |
| First Federal Bank of Ohio | $630,000 | $470,000 | -25.4% | 0.4% |
| 1ST SIGNATURE LENDING, LLC | $195,000 | $465,000 | 138.5% | 0.4% |
| HOMESIDE FINANCIAL, LLC | $125,000 | $465,000 | 272.0% | 0.4% |
| PENNYMAC LOAN SERVICES, LLC | $960,000 | $440,000 | -54.2% | 0.4% |
| Wells Fargo Bank | $955,000 | $440,000 | -53.9% | 0.4% |
| Carrington Mortgage Services, LLC | $800,000 | $425,000 | -46.9% | 0.4% |
| HOWARD HANNA FINANCIAL SERVICES, INC. | $580,000 | $425,000 | -26.7% | 0.4% |
| Flagstar Bank, FSB | $815,000 | $415,000 | -49.1% | 0.4% |
| AMERISAVE MORTGAGE CORPORATION | $590,000 | $390,000 | -33.9% | 0.3% |
| NEWREZ LLC | $800,000 | $390,000 | -51.3% | 0.3% |
| The State Bank and Trust Company | $145,000 | $375,000 | 158.6% | 0.3% |
| LIBERTY HOME MORTGAGE CORPORATION | $230,000 | $360,000 | 56.5% | 0.3% |
| Discover Bank | $35,000 | $355,000 | 914.3% | 0.3% |
| ROYAL UNITED MORTGAGE LLC | $285,000 | $355,000 | 24.6% | 0.3% |
| First Federal Bank | $345,000 | n/a | 0.3% | |
| WesBanco | $345,000 | n/a | 0.3% | |
| First Federal Community Bank of Bucyrus | $105,000 | $315,000 | 200.0% | 0.3% |
| GUARANTEED RATE, INC. | $565,000 | $315,000 | -44.2% | 0.3% |
| Buckeye Community Bank | $305,000 | n/a | 0.3% | |
| The Union Bank Company | $390,000 | $290,000 | -25.6% | 0.3% |
| DRAPER AND KRAMER MORTGAGE CORP. | $85,000 | $280,000 | 229.4% | 0.2% |
| FIRST COMMUNITY MORTGAGE, INC. | $275,000 | n/a | 0.2% | |
| THE EQUITABLE MORTGAGE CORPORATION | $265,000 | n/a | 0.2% | |
| U.S. Bank | $430,000 | $265,000 | -38.4% | 0.2% |
| MORTGAGE ACCESS CORP. | $255,000 | n/a | 0.2% | |
| The Genoa Banking Company | $515,000 | $250,000 | -51.5% | 0.2% |
| FIRST CENTENNIAL MORTGAGE CORPORATION | $215,000 | $225,000 | 4.7% | 0.2% |
| USAA Federal Savings Bank | $95,000 | $225,000 | 136.8% | 0.2% |
| V.I.P. MORTGAGE, INC. | $215,000 | n/a | 0.2% | |
| Fremont Federal Credit Union | $210,000 | n/a | 0.2% | |
| GSF Mortgage Corporation | $210,000 | n/a | 0.2% | |
| Magnolia Bank | $125,000 | $210,000 | 68.0% | 0.2% |
| MICHIGAN MUTUAL, INC. | $205,000 | n/a | 0.2% | |
| PREMIA MORTGAGE, LLC | $205,000 | n/a | 0.2% | |
| Evolve Bank & Trust | $175,000 | $195,000 | 11.4% | 0.2% |
| FIRST ALLIANCE HOME MORTGAGE, LLC | $195,000 | n/a | 0.2% | |
| NATIONS DIRECT MORTGAGE, LLC | $195,000 | n/a | 0.2% | |
| ALLIED MORTGAGE GROUP, INC. | $175,000 | n/a | 0.2% | |
| SUN WEST MORTGAGE COMPANY, INC. | $170,000 | n/a | 0.1% | |
| First National Bank of Pennsylvania | $170,000 | $165,000 | -2.9% | 0.1% |
| MID AMERICA MORTGAGE, INC. | $535,000 | $165,000 | -69.2% | 0.1% |
| TOWNE MORTGAGE COMPANY | $165,000 | n/a | 0.1% | |
| The Old Fort Banking Company | $160,000 | n/a | 0.1% | |
| Ameris Bank | $155,000 | n/a | 0.1% | |
| CONTOUR MORTGAGE CORPORATION | $155,000 | n/a | 0.1% | |
| Sierra Pacific Mortgage Company, Inc. | $175,000 | $155,000 | -11.4% | 0.1% |
| AMERICAN FINANCIAL NETWORK, INC. | $145,000 | n/a | 0.1% | |
| EQUITY RESOURCES, INC. | $165,000 | $145,000 | -12.1% | 0.1% |
| MYCUMORTGAGE, LLC | $145,000 | n/a | 0.1% | |
| The Federal Savings Bank | $145,000 | n/a | 0.1% | |
| Ally Bank | $265,000 | $135,000 | -49.1% | 0.1% |
| AMERICAN HERITAGE LENDING, INC. | $135,000 | n/a | 0.1% | |
| LAKEVIEW LOAN SERVICING, LLC | $665,000 | $135,000 | -79.7% | 0.1% |
| Coastal Community Bank | $130,000 | n/a | 0.1% | |
| SOUTHWEST STAGE FUNDING, LLC | $105,000 | n/a | 0.1% | |
| LENDINGHOME FUNDING CORPORATION | $75,000 | $95,000 | 26.7% | 0.1% |
| Armed Forces Bank | $85,000 | n/a | 0.1% | |
| GUILD MORTGAGE COMPANY | $105,000 | $85,000 | -19.0% | 0.1% |
| SOUTHPOINT FINANCIAL SERVICES, INC. | $85,000 | n/a | 0.1% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $75,000 | n/a | 0.1% | |
| Mr. Cooper ( Nationstar Mortgage ) | $2,270,000 | $75,000 | -96.7% | 0.1% |
| The Merchants National Bank | $75,000 | n/a | 0.1% | |
| Figure Lending LLC | $210,000 | $50,000 | -76.2% | 0.0% |
| CENTURY | $315,000 | $45,000 | -85.7% | 0.0% |
| Wayne Savings Community Bank | $45,000 | n/a | 0.0% | |
| Signature Federal Credit Union | $35,000 | n/a | 0.0% | |
| ALLIANT CREDIT UNION | $15,000 | $25,000 | 66.7% | 0.0% |
| The Farmers Savings Bank | $25,000 | n/a | 0.0% |
Norwalk's top lender by overall market share is QUICKEN LOANS, LLC, with 9.7% market share. In second place, with 9.5%, is UNION HOME MORTGAGE CORP., having originated $11,020,000 in loans. In third place, with 6.6%, is CROSSCOUNTRY MORTGAGE, LLC, having originated $7,700,000 in loans. In fourth place, with 6.0%, is Civista Bank, having originated $6,930,000 in loans. In fifth place, with 6.0%, is First Federal Bank of the Midwest, having originated $6,925,000 in loans.
Norwalk, OH Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 450 | $80,860,000 | $179,689 |
| Cash Out Refi | 101 | $14,005,000 | $138,663 |
| Other | 99 | $6,465,000 | $65,303 |
| Home Improvement | 86 | $5,780,000 | $67,209 |
| Refi | 85 | $8,825,000 | $103,824 |
Norwalk's most frequently cited loan purpose was Home Purchase, with 450 originations. The 2nd most popular reason was Cash Out Refi, with 101 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 272 | $44,130,000 | $162,243 |
| 7-8% | 261 | $41,675,000 | $159,674 |
| Over 8% | 175 | $11,415,000 | $65,229 |
| 5-6% | 84 | $14,590,000 | $173,690 |
| 4-5% | 4 | $520,000 | $130,000 |
| 3-4% | 4 | $610,000 | $152,500 |
| <2.5% | 2 | $30,000 | $15,000 |
During 2023, Norwalk's most frequently originated rate bucket was 6-7%, with 272 originations.
Loan Sizing (Norwalk, OH MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 330 | $19,640,000 | $59,515 |
| $100k-200k | 330 | $47,290,000 | $143,303 |
| $200k-400k | 137 | $36,565,000 | $266,898 |
| $400k-600k | 18 | $8,300,000 | $461,111 |
| $600k-1000k | 6 | $4,140,000 | $690,000 |
Norwalk's loan sizing saw the bucket of loans from $100,000 or less with 330 originations, totaling $19,640,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 347 | $63,755,000 | $183,732 |
| 60-80% | 164 | $26,900,000 | $164,024 |
| 20-40% | 125 | $8,055,000 | $64,440 |
| 40-60% | 81 | $10,075,000 | $124,383 |
| Under 20% | 76 | $2,320,000 | $30,526 |
| Over 100% | 5 | $905,000 | $181,000 |
Norwalk's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 347 originations, totaling $63,755,000 in origination value.