Paducah Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Paducah averaged
7.22%
for the week of 2023-09-14, compared to the national average of
7.18% for the same period.
The average rate for the prior week (2023-09-07) was
6.96% and
one month ago for the week of 2023-08-10, the
average rate was 6.7%.
Paducah's average rate one year ago was 5.83%.
For refis of the same type during the week of 2023-09-14, the average rate
was 7.48%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-09-14 | 7.18% |
| Paducah 30 Year Fixed Rate | 2023-09-14 | 7.22% |
| Paducah 30 Year Fixed Rate Refi | 2023-09-14 | 7.48% |
| Paducah 15 Year Fixed Rate | 2023-09-14 | 6.41% |
| Paducah 15 Year Fixed Rate Refi | 2023-09-14 | 6.81% |
| Paducah 30 Year FHA | 2023-09-14 | 6.8% |
| Paducah 30 Year FHA Refi | 2023-09-14 | 6.99% |
| Paducah 30 Year USDA | 2023-09-14 | 6.88% |
| Paducah 30 Year USDA Refi | 2023-09-14 | 7.18% |
| Paducah 30 Year VA | 2023-09-14 | 6.5% |
| Paducah 30 Year VA Refi | 2023-09-14 | 6.81% |
Paducah 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 Paducah, KY-IL 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.).
Paducah Average Closing Costs & Other Stats
Paducah, KY-IL's 98 lenders originated 1,693
loans during 2022. The total origination value was $301,145,000, with an average loan value of
$177,877.
Paducah's average closing costs are $3,794.
The top Paducah lender as defined by loan originations is The Paducah Bank and Trust Company, with
87 loans originated. Their average total fees are
$3,013, which is $337
lower than the next largest lender,
U.S. Bank.
The lowest fee Paducah lenders (with over 10 loans originated) are
EVERETT FINANCIAL, INC. ($1,905), Community Mortgage Banc Corporation ($2,073), Independence Bank of Kentucky ($2,319), Banterra Bank ($2,691) and Regions Bank ($2,787).
The lowest rate Paducah lenders (with over 10 loans originated) are
Independence Bank of Kentucky (4.44%), Banterra Bank (4.79%), U.S. Bank (4.91%), STOCKTON MORTGAGE CORPORATION (4.97%) and UNITED WHOLESALE MORTGAGE, LLC (5.01%).
Paducah, KY-IL 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 | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
|---|---|---|---|---|
| The Paducah Bank and Trust Company | $52,500,000 | $36,840,000 | -29.8% | 12.2% |
| U.S. Bank | $43,190,000 | $25,290,000 | -41.4% | 8.4% |
| Independence Bank of Kentucky | $44,850,000 | $20,830,000 | -53.6% | 6.9% |
| EVERETT FINANCIAL, INC. | $6,510,000 | $18,515,000 | 184.4% | 6.1% |
| QUICKEN LOANS, LLC | $38,715,000 | $18,365,000 | -52.6% | 6.1% |
| Regions Bank | $15,745,000 | $18,180,000 | 15.5% | 6.0% |
| FNB Bank, Inc. | $12,380,000 | $12,050,000 | -2.7% | 4.0% |
| UNITED WHOLESALE MORTGAGE, LLC | $17,610,000 | $10,285,000 | -41.6% | 3.4% |
| Arbor Realty Trust, Inc. | $9,870,000 | n/a | 3.3% | |
| ORIX REAL ESTATE CAPITAL, LLC | $8,855,000 | n/a | 2.9% | |
| LOANDEPOT.COM, LLC | $12,290,000 | $7,540,000 | -38.6% | 2.5% |
| Mortgage Research Center, LLC | $8,695,000 | $6,850,000 | -21.2% | 2.3% |
| STOCKTON MORTGAGE CORPORATION | $2,600,000 | $6,105,000 | 134.8% | 2.0% |
| GERSHMAN INVESTMENT CORP. | $3,855,000 | $5,350,000 | 38.8% | 1.8% |
| Magnolia Bank | $15,140,000 | $4,635,000 | -69.4% | 1.5% |
| Banterra Bank | $5,245,000 | $3,480,000 | -33.7% | 1.2% |
| AgFirst Farm Credit Bank | $2,485,000 | $3,455,000 | 39.0% | 1.1% |
| FREEDOM MORTGAGE CORPORATION | $6,200,000 | $2,845,000 | -54.1% | 0.9% |
| USAA Federal Savings Bank | $2,265,000 | $2,810,000 | 24.1% | 0.9% |
| PENNYMAC LOAN SERVICES, LLC | $5,505,000 | $2,560,000 | -53.5% | 0.9% |
| Truist | $4,045,000 | $2,370,000 | -41.4% | 0.8% |
| Wells Fargo Bank | $27,475,000 | $2,245,000 | -91.8% | 0.7% |
| Community Mortgage Banc Corporation | $5,660,000 | $2,165,000 | -61.7% | 0.7% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $655,000 | $2,100,000 | 220.6% | 0.7% |
| NAVY FEDERAL CREDIT UNION | $2,005,000 | $2,020,000 | 0.7% | 0.7% |
| AMERISAVE MORTGAGE CORPORATION | $5,385,000 | $1,870,000 | -65.3% | 0.6% |
| Mr. Cooper ( Nationstar Mortgage ) | $4,935,000 | $1,820,000 | -63.1% | 0.6% |
| Citizens Bank | $1,840,000 | $1,740,000 | -5.4% | 0.6% |
| ACOPIA, LLC | $4,520,000 | $1,695,000 | -62.5% | 0.6% |
| Farmers Bank and Trust Company | $1,170,000 | $1,635,000 | 39.7% | 0.5% |
| 21ST MORTGAGE CORPORATION | $1,205,000 | $1,630,000 | 35.3% | 0.5% |
| EVANSVILLE TEACHERS | $1,050,000 | $1,560,000 | 48.6% | 0.5% |
| PNC Bank | $1,860,000 | $1,495,000 | -19.6% | 0.5% |
| TOWNE MORTGAGE COMPANY | $715,000 | $1,420,000 | 98.6% | 0.5% |
| BNY Mellon | $1,405,000 | n/a | 0.5% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $2,180,000 | $1,300,000 | -40.4% | 0.4% |
| BROKER SOLUTIONS, INC. | $1,310,000 | $1,280,000 | -2.3% | 0.4% |
| JPMorgan Chase Bank | $3,715,000 | $1,185,000 | -68.1% | 0.4% |
| Fifth Third Bank | $830,000 | $1,145,000 | 38.0% | 0.4% |
| Central Bank & Trust Company | $1,105,000 | n/a | 0.4% | |
| LAKEVIEW LOAN SERVICING, LLC | $1,985,000 | $1,100,000 | -44.6% | 0.4% |
| CRESCENT MORTGAGE COMPANY | $850,000 | $1,060,000 | 24.7% | 0.4% |
| PREMIA MORTGAGE, LLC | $1,055,000 | n/a | 0.4% | |
| First Southern National Bank | $1,030,000 | n/a | 0.3% | |
| The Huntington National Bank | $725,000 | $970,000 | 33.8% | 0.3% |
| AMERICAN FINANCING CORPORATION | $1,990,000 | $805,000 | -59.5% | 0.3% |
| HOME POINT FINANCIAL CORPORATION | $520,000 | $790,000 | 51.9% | 0.3% |
| Renasant Bank | $1,695,000 | $760,000 | -55.2% | 0.3% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $330,000 | $700,000 | 112.1% | 0.2% |
| First Financial Bank | $645,000 | $695,000 | 7.8% | 0.2% |
| Flagstar Bank, FSB | $665,000 | $685,000 | 3.0% | 0.2% |
| NEWREZ LLC | $2,475,000 | $675,000 | -72.7% | 0.2% |
| The Federal Savings Bank | $375,000 | $675,000 | 80.0% | 0.2% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $215,000 | $655,000 | 204.7% | 0.2% |
| Peoples National Bank , N.A. | $680,000 | $595,000 | -12.5% | 0.2% |
| UNIFY FINANCIAL Credit Union | $595,000 | n/a | 0.2% | |
| SIU | $200,000 | $580,000 | 190.0% | 0.2% |
| GUARANTY HOME MORTGAGE CORPORATION | $355,000 | $555,000 | 56.3% | 0.2% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $125,000 | $555,000 | 344.0% | 0.2% |
| United Community Bank | $115,000 | $555,000 | 382.6% | 0.2% |
| River Valley AgCredit, ACA | $2,175,000 | $545,000 | -74.9% | 0.2% |
| Bank of England | $815,000 | $525,000 | -35.6% | 0.2% |
| Bank of America | $1,575,000 | $515,000 | -67.3% | 0.2% |
| FLAT BRANCH MORTGAGE, INC. | $85,000 | $505,000 | 494.1% | 0.2% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $695,000 | $500,000 | -28.1% | 0.2% |
| Paramount Residential Mortgage Group, Inc. | $85,000 | $495,000 | 482.4% | 0.2% |
| TOP FLITE FINANCIAL, INC. | $400,000 | $490,000 | 22.5% | 0.2% |
| PHH Mortgage Corporation | $485,000 | n/a | 0.2% | |
| Raymond James Bank | $265,000 | $485,000 | 83.0% | 0.2% |
| Carrington Mortgage Services, LLC | $1,005,000 | $465,000 | -53.7% | 0.2% |
| First Savings Bank | $445,000 | n/a | 0.1% | |
| DAS Acquisition Company, LLC | $595,000 | $440,000 | -26.1% | 0.1% |
| CapStar Bank | $870,000 | $430,000 | -50.6% | 0.1% |
| Waterstone Mortgage Corporation | $425,000 | n/a | 0.1% | |
| CHURCHILL MORTGAGE CORPORATION | $755,000 | $410,000 | -45.7% | 0.1% |
| Stifel Bank and Trust | $175,000 | $410,000 | 134.3% | 0.1% |
| ANGEL OAK HOME LOANS LLC | $405,000 | n/a | 0.1% | |
| Century Mortgage Company DBA Century Lending Company | $400,000 | n/a | 0.1% | |
| Legence Bank | $425,000 | $395,000 | -7.1% | 0.1% |
| RUOFF MORTGAGE COMPANY, INC. | $730,000 | $395,000 | -45.9% | 0.1% |
| CROSSCOUNTRY MORTGAGE, LLC | $570,000 | $380,000 | -33.3% | 0.1% |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $175,000 | $375,000 | 114.3% | 0.1% |
| Nations Lending Corporation | $300,000 | $365,000 | 21.7% | 0.1% |
| CITIZENS EQUITY FIRST | $355,000 | n/a | 0.1% | |
| ENDEAVOR CAPITAL, LLC. | $135,000 | $350,000 | 159.3% | 0.1% |
| KELLER MORTGAGE, LLC | $700,000 | $350,000 | -50.0% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $545,000 | $350,000 | -35.8% | 0.1% |
| GUARANTEED RATE, INC. | $345,000 | n/a | 0.1% | |
| FIRST COMMUNITY MORTGAGE, INC. | $115,000 | $340,000 | 195.7% | 0.1% |
| Plains Commerce Bank | $340,000 | n/a | 0.1% | |
| Republic Bank & Trust Company | $55,000 | $340,000 | 518.2% | 0.1% |
| VAN DYK MORTGAGE CORPORATION | $340,000 | n/a | 0.1% | |
| LENDSURE MORTGAGE CORP. | $335,000 | n/a | 0.1% | |
| SouthernTrust Bank | $335,000 | n/a | 0.1% | |
| Alliance Bank | $55,000 | $330,000 | 500.0% | 0.1% |
| ROYAL UNITED MORTGAGE LLC | $420,000 | $325,000 | -22.6% | 0.1% |
| The Bradford National Bank of Greenville | $325,000 | n/a | 0.1% | |
| BETTER MORTGAGE CORPORATION | $2,605,000 | $320,000 | -87.7% | 0.1% |
| FirstBank | $315,000 | $310,000 | -1.6% | 0.1% |
| Longview Bank & Trust | $305,000 | n/a | 0.1% | |
| TEACHERS CREDIT UNION | $290,000 | n/a | 0.1% | |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $265,000 | $285,000 | 7.5% | 0.1% |
| GREENSTATE CREDIT UNION | $275,000 | n/a | 0.1% | |
| SOUTHWEST FUNDING, LP | $275,000 | n/a | 0.1% | |
| Discover Bank | $155,000 | $270,000 | 74.2% | 0.1% |
| NEW DAY FINANCIAL, LLC | $1,015,000 | $265,000 | -73.9% | 0.1% |
| FAIR WAY LENDING LLC | $95,000 | $260,000 | 173.7% | 0.1% |
| WesBanco Bank, Inc. | $1,785,000 | $255,000 | -85.7% | 0.1% |
| FirstTrust Home Loans, Inc. | $245,000 | n/a | 0.1% | |
| MORTGAGE 1 INCORPORATED | $245,000 | n/a | 0.1% | |
| PENTAGON FEDERAL CREDIT UNION | $535,000 | $240,000 | -55.1% | 0.1% |
| ALLIANT CREDIT UNION | $235,000 | n/a | 0.1% | |
| American Bank & Trust Company, Inc. | $125,000 | $235,000 | 88.0% | 0.1% |
| Park Lane Finance Solutions, LLC | $190,000 | $235,000 | 23.7% | 0.1% |
| BEST CAPITAL FUNDING | $225,000 | n/a | 0.1% | |
| COMMUNITY MORTGAGE CORPORATION | $185,000 | $225,000 | 21.6% | 0.1% |
| First Citizens National Bank | $155,000 | $225,000 | 45.2% | 0.1% |
| TEMPLE VIEW CAPITAL FUNDING, LP | $105,000 | $215,000 | 104.8% | 0.1% |
| ALTRA | $210,000 | n/a | 0.1% | |
| HOMESIDE FINANCIAL, LLC | $865,000 | $210,000 | -75.7% | 0.1% |
| NETWORK CAPITAL FUNDING CORPORATION | $210,000 | n/a | 0.1% | |
| Leaders Credit Union | $205,000 | n/a | 0.1% | |
| Barrington Bank & Trust Company, N.A. | $1,160,000 | $200,000 | -82.8% | 0.1% |
| EMBRACE HOME LOANS, INC. | $195,000 | n/a | 0.1% | |
| F&M Bank | $195,000 | n/a | 0.1% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $195,000 | n/a | 0.1% | |
| S&T Bank | $195,000 | n/a | 0.1% | |
| AmeriHome Mortgage Company, LLC | $385,000 | $185,000 | -51.9% | 0.1% |
| SIRVA MORTGAGE, INC. | $185,000 | n/a | 0.1% | |
| Colten Mortgage, LLC | $175,000 | n/a | 0.1% | |
| GENISYS | $175,000 | n/a | 0.1% | |
| SOVEREIGN LENDING GROUP INCORPORATED | $175,000 | n/a | 0.1% | |
| AXIA FINANCIAL, LLC | $165,000 | n/a | 0.1% | |
| FINANCE OF AMERICA MORTGAGE LLC | $525,000 | $165,000 | -68.6% | 0.1% |
| Paramount Bank | $450,000 | $165,000 | -63.3% | 0.1% |
| ACADEMY MORTGAGE CORPORATION | $155,000 | n/a | 0.1% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $135,000 | $145,000 | 7.4% | 0.0% |
| CLASS ACT FEDERAL CREDIT UNION | $145,000 | n/a | 0.0% | |
| First Internet Bank of Indiana | $145,000 | n/a | 0.0% | |
| Flanagan State Bank | $145,000 | n/a | 0.0% | |
| MID AMERICA MORTGAGE, INC. | $480,000 | $145,000 | -69.8% | 0.0% |
| The Home Loan Expert LLC | $145,000 | n/a | 0.0% | |
| Hometown Lenders, Inc. | $135,000 | n/a | 0.0% | |
| HSBC BANK USA, NATIONAL ASSOCIATION | $135,000 | n/a | 0.0% | |
| MYCUMORTGAGE, LLC | $1,135,000 | $135,000 | -88.1% | 0.0% |
| PLANET HOME LENDING, LLC | $815,000 | $135,000 | -83.4% | 0.0% |
| First Mid Bank & Trust | $165,000 | $130,000 | -21.2% | 0.0% |
| SPRING EQ, LLC | $290,000 | $130,000 | -55.2% | 0.0% |
| Arvest Bank | $180,000 | $125,000 | -30.6% | 0.0% |
| M&T Bank | $585,000 | $125,000 | -78.6% | 0.0% |
| Mutual Federal Bank | $125,000 | n/a | 0.0% | |
| Planters Bank, Inc. | $175,000 | $125,000 | -28.6% | 0.0% |
| Citibank | $115,000 | n/a | 0.0% | |
| CALIBER HOME LOANS, INC. | $910,000 | $105,000 | -88.5% | 0.0% |
| Illinois State Police Federal Credit Union | $105,000 | n/a | 0.0% | |
| Academy Bank | $95,000 | n/a | 0.0% | |
| Bank First, N.A. | $95,000 | n/a | 0.0% | |
| DRAPER AND KRAMER MORTGAGE CORP. | $85,000 | n/a | 0.0% | |
| GREAT LAKES | $65,000 | $85,000 | 30.8% | 0.0% |
| DUPACO COMMUNITY | $75,000 | n/a | 0.0% | |
| NFM, INC. | $75,000 | n/a | 0.0% | |
| Old National Bank | $55,000 | n/a | 0.0% | |
| EASTMAN | $365,000 | $45,000 | -87.7% | 0.0% |
| FIRST STATE MORTGAGE SERVICES, LLC | $45,000 | n/a | 0.0% | |
| German American Bank | $160,000 | $45,000 | -71.9% | 0.0% |
| AMERICAN ADVISORS GROUP | $410,000 | $25,000 | -93.9% | 0.0% |
Paducah's top lender by overall market share is The Paducah Bank and Trust Company, with 12.2% market share. In second place, with 8.4%, is U.S. Bank, having originated $25,290,000 in loans. In third place, with 6.9%, is Independence Bank of Kentucky, having originated $20,830,000 in loans. In fourth place, with 6.1%, is EVERETT FINANCIAL, INC., having originated $18,515,000 in loans. In fifth place, with 6.1%, is QUICKEN LOANS, LLC, having originated $18,365,000 in loans.
Paducah, KY-IL Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 994 | $208,030,000 | $209,286 |
| Refi | 229 | $35,845,000 | $156,528 |
| Cash Out Refi | 224 | $41,020,000 | $183,125 |
| Home Improvement | 136 | $8,430,000 | $61,985 |
| Other | 110 | $7,820,000 | $71,091 |
Paducah's most frequently cited loan purpose was Home Purchase, with 994 originations. The 2nd most popular reason was Refi, with 229 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 439 | $75,605,000 | $172,221 |
| 3-4% | 384 | $71,680,000 | $186,667 |
| 4-5% | 364 | $66,530,000 | $182,775 |
| 6-7% | 221 | $31,985,000 | $144,729 |
| 7-8% | 74 | $8,150,000 | $110,135 |
| 2.5-3% | 62 | $13,970,000 | $225,323 |
| Over 8% | 50 | $3,860,000 | $77,200 |
| <2.5% | 26 | $13,160,000 | $506,154 |
During 2022, Paducah's most frequently originated rate bucket was 5-6%, with 439 originations.
Loan Sizing (Paducah, KY-IL MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 669 | $96,795,000 | $144,686 |
| $100,000 or less | 563 | $33,405,000 | $59,334 |
| $200k-400k | 382 | $102,790,000 | $269,084 |
| $400k-600k | 54 | $25,730,000 | $476,481 |
| $600k-1000k | 14 | $10,200,000 | $728,571 |
| $Over $1MM | 11 | $32,225,000 | $2,929,545 |
Paducah's loan sizing saw the bucket of loans from $100k-200k with 669 originations, totaling $96,795,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 774 | $148,110,000 | $191,357 |
| 60-80% | 378 | $81,670,000 | $216,058 |
| 40-60% | 169 | $24,765,000 | $146,538 |
| 20-40% | 147 | $10,395,000 | $70,714 |
| Under 20% | 124 | $5,220,000 | $42,097 |
| Over 100% | 20 | $13,590,000 | $679,500 |
Paducah's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 774 originations, totaling $148,110,000 in origination value.