Okeechobee Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Okeechobee averaged
7.01%
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
7.04% and
one month ago for the week of 2024-10-03, the
average rate was 6.24%.
Okeechobee's average rate one year ago was 7.88%.
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% |
| Okeechobee 30 Year Fixed Rate | 2024-11-07 | 7.01% |
| Okeechobee 30 Year Fixed Rate Refi | 2024-11-07 | 7.09% |
| Okeechobee 15 Year Fixed Rate | 2024-11-07 | 6% |
| Okeechobee 15 Year Fixed Rate Refi | 2024-11-07 | 6.3% |
| Okeechobee 30 Year FHA | 2024-11-07 | 6.41% |
| Okeechobee 30 Year FHA Refi | 2024-11-07 | 6.53% |
| Okeechobee 30 Year USDA | 2024-11-07 | 6.58% |
| Okeechobee 30 Year USDA Refi | 2024-11-07 | 6.58% |
| Okeechobee 30 Year VA | 2024-11-07 | 6.14% |
| Okeechobee 30 Year VA Refi | 2024-11-07 | 6.34% |
Okeechobee 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 Okeechobee, FL 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.).
Okeechobee Average Closing Costs & Other Stats
Okeechobee, FL's 66 lenders originated 643
loans during 2023. The total origination value was $133,645,000, with an average loan value of
$207,846.
Okeechobee's average closing costs are $6,558.
The top Okeechobee lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
30 loans originated. Their average total fees are
$6,915, which is $520
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Okeechobee lenders (with over 10 loans originated) are
South State Bank ($4,986), UNITED WHOLESALE MORTGAGE, LLC ($6,915), GENEVA FINANCIAL, LLC ($7,118), QUICKEN LOANS, LLC ($7,435) and LOANDEPOT.COM, LLC ($7,471).
The lowest rate Okeechobee lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.86%), LOANDEPOT.COM, LLC (6.86%), UNITED WHOLESALE MORTGAGE, LLC (6.93%), South State Bank (6.99%) and GENEVA FINANCIAL, LLC (7.13%).
Okeechobee, FL 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 |
|---|---|---|---|---|
| UNITED WHOLESALE MORTGAGE, LLC | $11,800,000 | $16,950,000 | 43.6% | 12.7% |
| QUICKEN LOANS, LLC | $10,605,000 | $7,355,000 | -30.6% | 5.5% |
| South State Bank | $11,210,000 | $6,380,000 | -43.1% | 4.8% |
| LOANDEPOT.COM, LLC | $8,620,000 | $6,280,000 | -27.1% | 4.7% |
| GENEVA FINANCIAL, LLC | $1,550,000 | $4,975,000 | 221.0% | 3.7% |
| JPMorgan Chase Bank | $360,000 | $4,935,000 | 1,270.8% | 3.7% |
| 21ST MORTGAGE CORPORATION | $3,795,000 | $4,465,000 | 17.7% | 3.3% |
| Seacoast National Bank | $2,975,000 | $3,615,000 | 21.5% | 2.7% |
| METROPLEX MORTGAGE SERVICES, INC. | $1,495,000 | $3,570,000 | 138.8% | 2.7% |
| MIDFLORIDA | $5,880,000 | $3,385,000 | -42.4% | 2.5% |
| FREEDOM MORTGAGE CORPORATION | $1,855,000 | $2,785,000 | 50.1% | 2.1% |
| ACOPIA, LLC | $1,300,000 | $2,625,000 | 101.9% | 2.0% |
| Valley National Bank | $2,505,000 | n/a | 1.9% | |
| CROSSCOUNTRY MORTGAGE, LLC | $3,730,000 | $2,310,000 | -38.1% | 1.7% |
| TRIAD FINANCIAL SERVICES, INC. | $785,000 | $2,045,000 | 160.5% | 1.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,285,000 | $1,850,000 | 44.0% | 1.4% |
| PNC Bank | $4,555,000 | $1,840,000 | -59.6% | 1.4% |
| Mortgage Research Center, LLC | $3,920,000 | $1,785,000 | -54.5% | 1.3% |
| NAVY FEDERAL CREDIT UNION | $1,235,000 | $1,640,000 | 32.8% | 1.2% |
| Waterstone Mortgage Corporation | $205,000 | $1,595,000 | 678.0% | 1.2% |
| Carrington Mortgage Services, LLC | $345,000 | $1,350,000 | 291.3% | 1.0% |
| NFM, INC. | $205,000 | $1,335,000 | 551.2% | 1.0% |
| EVERETT FINANCIAL, INC. | $1,980,000 | $1,280,000 | -35.4% | 1.0% |
| MID AMERICA MORTGAGE, INC. | $635,000 | $1,210,000 | 90.6% | 0.9% |
| Bank of America | $1,270,000 | $1,185,000 | -6.7% | 0.9% |
| LAKEVIEW LOAN SERVICING, LLC | $940,000 | $1,090,000 | 16.0% | 0.8% |
| NEWREZ LLC | $115,000 | $1,085,000 | 843.5% | 0.8% |
| PENNYMAC LOAN SERVICES, LLC | $525,000 | $1,015,000 | 93.3% | 0.8% |
| CARDINAL FINANCIAL | $1,305,000 | $1,010,000 | -22.6% | 0.8% |
| EMM LOANS LLC | $395,000 | $1,005,000 | 154.4% | 0.8% |
| Truist | $870,000 | $1,000,000 | 14.9% | 0.7% |
| SPACE COAST Credit Union | $990,000 | n/a | 0.7% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $395,000 | $945,000 | 139.2% | 0.7% |
| Flagstar Bank, FSB | $1,970,000 | $940,000 | -52.3% | 0.7% |
| Regions Bank | $540,000 | $900,000 | 66.7% | 0.7% |
| RF Renovo Management Company, LLC | $840,000 | n/a | 0.6% | |
| Wells Fargo Bank | $2,210,000 | $830,000 | -62.4% | 0.6% |
| Bell Bank | $370,000 | $805,000 | 117.6% | 0.6% |
| SOUTHWEST STAGE FUNDING, LLC | $790,000 | n/a | 0.6% | |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $1,545,000 | $750,000 | -51.5% | 0.6% |
| Paramount Residential Mortgage Group, Inc. | $1,820,000 | $740,000 | -59.3% | 0.6% |
| VILLAGE CAPITAL MORTGAGE | $720,000 | n/a | 0.5% | |
| AmeriHome Mortgage Company, LLC | $135,000 | $715,000 | 429.6% | 0.5% |
| Mr. Cooper ( Nationstar Mortgage ) | $1,975,000 | $690,000 | -65.1% | 0.5% |
| TOWNE MORTGAGE COMPANY | $675,000 | n/a | 0.5% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $950,000 | $660,000 | -30.5% | 0.5% |
| SUN WEST MORTGAGE COMPANY, INC. | $125,000 | $660,000 | 428.0% | 0.5% |
| Northpointe Bank | $655,000 | n/a | 0.5% | |
| MOVEMENT MORTGAGE, LLC | $515,000 | $595,000 | 15.5% | 0.4% |
| GUARANTEED RATE AFFINITY, LLC | $590,000 | n/a | 0.4% | |
| LEADERONE FINANCIAL CORPORATION | $590,000 | n/a | 0.4% | |
| SWBC MORTGAGE CORPORATION | $825,000 | $585,000 | -29.1% | 0.4% |
| ABSOLUTE HOME MORTGAGE CORPORATION | $295,000 | $580,000 | 96.6% | 0.4% |
| Century Mortgage Company DBA Century Lending Company | $560,000 | n/a | 0.4% | |
| BROKER SOLUTIONS, INC. | $1,920,000 | $550,000 | -71.4% | 0.4% |
| AMERISAVE MORTGAGE CORPORATION | $585,000 | $545,000 | -6.8% | 0.4% |
| JMAC LENDING, INC. | $540,000 | n/a | 0.4% | |
| NEW DAY FINANCIAL, LLC | $530,000 | n/a | 0.4% | |
| MICHIGAN MUTUAL, INC. | $520,000 | n/a | 0.4% | |
| BAY EQUITY LLC | $490,000 | n/a | 0.4% | |
| Heartland National Bank | $285,000 | $485,000 | 70.2% | 0.4% |
| 1ST SIGNATURE LENDING, LLC | $715,000 | $480,000 | -32.9% | 0.4% |
| Citizens Bank | $770,000 | $460,000 | -40.3% | 0.3% |
| FUNDLOANS CAPITAL | $435,000 | n/a | 0.3% | |
| AMERICAN FINANCIAL NETWORK, INC. | $430,000 | n/a | 0.3% | |
| First Bank | $595,000 | $430,000 | -27.7% | 0.3% |
| CALIBER HOME LOANS, INC. | $3,070,000 | $410,000 | -86.6% | 0.3% |
| TOP FLITE FINANCIAL, INC. | $390,000 | n/a | 0.3% | |
| Wauchula State Bank | $385,000 | n/a | 0.3% | |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $245,000 | $365,000 | 49.0% | 0.3% |
| Fifth Third Bank | $365,000 | n/a | 0.3% | |
| HOMESIDE FINANCIAL, LLC | $575,000 | $360,000 | -37.4% | 0.3% |
| PREMIA MORTGAGE, LLC | $215,000 | $355,000 | 65.1% | 0.3% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $740,000 | $345,000 | -53.4% | 0.3% |
| ITHINK FINANCIAL Credit Union | $370,000 | $335,000 | -9.5% | 0.3% |
| THE MORTGAGE FIRM, INC. | $1,100,000 | $335,000 | -69.5% | 0.3% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $275,000 | $315,000 | 14.5% | 0.2% |
| City National Bank | $305,000 | n/a | 0.2% | |
| Loan Simple, Inc. | $305,000 | n/a | 0.2% | |
| HOMEXPRESS MORTGAGE CORP. | $370,000 | $295,000 | -20.3% | 0.2% |
| FBC MORTGAGE, LLC | $285,000 | n/a | 0.2% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $335,000 | $285,000 | -14.9% | 0.2% |
| GUARANTEED RATE, INC. | $810,000 | $275,000 | -66.0% | 0.2% |
| Nations Lending Corporation | $1,530,000 | $270,000 | -82.4% | 0.2% |
| STOCKTON MORTGAGE CORPORATION | $195,000 | $270,000 | 38.5% | 0.2% |
| Ally Bank | $255,000 | n/a | 0.2% | |
| AMERICAN BANCSHARES MORTGAGE | $385,000 | $255,000 | -33.8% | 0.2% |
| AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. | $255,000 | n/a | 0.2% | |
| First-Citizens Bank & Trust Company | $925,000 | $255,000 | -72.4% | 0.2% |
| GSF Mortgage Corporation | $185,000 | $255,000 | 37.8% | 0.2% |
| USAA Federal Savings Bank | $155,000 | $235,000 | 51.6% | 0.2% |
| Discover Bank | $225,000 | n/a | 0.2% | |
| ENVOY MORTGAGE, LTD | $225,000 | n/a | 0.2% | |
| Barrington Bank & Trust Company, N.A. | $305,000 | $215,000 | -29.5% | 0.2% |
| Franklin Loan Corporation | $215,000 | n/a | 0.2% | |
| Mid-Continent Funding, Inc. | $205,000 | $215,000 | 4.9% | 0.2% |
| The Federal Savings Bank | $610,000 | $215,000 | -64.8% | 0.2% |
| Lend Smart Mortgage, LLC | $205,000 | n/a | 0.2% | |
| LENDSURE MORTGAGE CORP. | $205,000 | n/a | 0.2% | |
| FIRST MORTGAGE COMPANY, INC. | $195,000 | n/a | 0.1% | |
| Bank of England | $175,000 | n/a | 0.1% | |
| HOMEOWNERS FINANCIAL GROUP USA, LLC | $265,000 | $175,000 | -34.0% | 0.1% |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $165,000 | n/a | 0.1% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $165,000 | n/a | 0.1% | |
| ARC HOME LLC | $155,000 | n/a | 0.1% | |
| LENDINGHOME FUNDING CORPORATION | $570,000 | $155,000 | -72.8% | 0.1% |
| Suncoast Credit Union | $225,000 | $145,000 | -35.6% | 0.1% |
| CIVIC FINANCIAL SERVICES, LLC | $440,000 | $135,000 | -69.3% | 0.1% |
| ROYAL UNITED MORTGAGE LLC | $260,000 | $130,000 | -50.0% | 0.1% |
| LOANPAL, LLC | $450,000 | $125,000 | -72.2% | 0.1% |
| First Grayson Bank | $115,000 | n/a | 0.1% | |
| UNION HOME MORTGAGE CORP. | $115,000 | n/a | 0.1% | |
| First American Bank | $105,000 | n/a | 0.1% | |
| LONGBRIDGE FINANCIAL, LLC | $105,000 | n/a | 0.1% | |
| PLANET HOME LENDING, LLC | $410,000 | $105,000 | -74.4% | 0.1% |
| Wood & Huston Bank | $105,000 | n/a | 0.1% | |
| Coastal Community Bank | $100,000 | n/a | 0.1% | |
| CALCON MUTUAL MORTGAGE LLC | $95,000 | n/a | 0.1% | |
| Third Federal Savings and Loan Association of Cleveland | $85,000 | n/a | 0.1% | |
| Figure Lending LLC | $35,000 | $80,000 | 128.6% | 0.1% |
| RUOFF MORTGAGE COMPANY, INC. | $75,000 | n/a | 0.1% | |
| Sierra Pacific Mortgage Company, Inc. | $75,000 | n/a | 0.1% | |
| CEDAR FALLS COMMUNITY CREDIT UNION | $65,000 | n/a | 0.0% |
Okeechobee's top lender by overall market share is UNITED WHOLESALE MORTGAGE, LLC, with 12.7% market share. In second place, with 5.5%, is QUICKEN LOANS, LLC, having originated $7,355,000 in loans. In third place, with 4.8%, is South State Bank, having originated $6,380,000 in loans. In fourth place, with 4.7%, is LOANDEPOT.COM, LLC, having originated $6,280,000 in loans. In fifth place, with 3.7%, is GENEVA FINANCIAL, LLC, having originated $4,975,000 in loans.
Okeechobee, FL Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 447 | $102,635,000 | $229,609 |
| Cash Out Refi | 77 | $19,025,000 | $247,078 |
| Home Improvement | 57 | $4,665,000 | $81,842 |
| Other | 36 | $4,080,000 | $113,333 |
| Refi | 26 | $3,240,000 | $124,615 |
Okeechobee's most frequently cited loan purpose was Home Purchase, with 447 originations. The 2nd most popular reason was Cash Out Refi, with 77 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 254 | $61,780,000 | $243,228 |
| 7-8% | 179 | $37,625,000 | $210,196 |
| Over 8% | 96 | $12,580,000 | $131,042 |
| 5-6% | 71 | $16,715,000 | $235,423 |
| <2.5% | 20 | $280,000 | $14,000 |
| 4-5% | 10 | $1,620,000 | $162,000 |
| 3-4% | 3 | $295,000 | $98,333 |
During 2023, Okeechobee's most frequently originated rate bucket was 6-7%, with 254 originations.
Loan Sizing (Okeechobee, FL MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 264 | $70,960,000 | $268,788 |
| $100k-200k | 223 | $34,775,000 | $155,942 |
| $100,000 or less | 125 | $6,325,000 | $50,600 |
| $400k-600k | 25 | $12,105,000 | $484,200 |
| $600k-1000k | 4 | $2,570,000 | $642,500 |
| $Over $1MM | 2 | $6,910,000 | $3,455,000 |
Okeechobee's loan sizing saw the bucket of loans from $200k-400k with 264 originations, totaling $70,960,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 319 | $76,815,000 | $240,799 |
| 60-80% | 113 | $31,845,000 | $281,814 |
| Under 20% | 82 | $3,180,000 | $38,780 |
| 40-60% | 55 | $9,445,000 | $171,727 |
| 20-40% | 51 | $5,645,000 | $110,686 |
| Over 100% | 9 | $2,425,000 | $269,444 |
Okeechobee's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 319 originations, totaling $76,815,000 in origination value.