Palatka Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Palatka averaged
6.7%
for the week of 2024-07-18, compared to the national average of
6.77% for the same period.
The average rate for the prior week (2024-07-11) was
7.12% and
one month ago for the week of 2024-06-13, the
average rate was 6.88%.
Palatka's average rate one year ago was 6.89%.
For refis of the same type during the week of 2024-07-18, the average rate
was 6.87%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-07-18 | 6.77% |
| Palatka 30 Year Fixed Rate | 2024-07-18 | 6.7% |
| Palatka 30 Year Fixed Rate Refi | 2024-07-18 | 6.87% |
| Palatka 15 Year Fixed Rate | 2024-07-18 | 5.85% |
| Palatka 15 Year Fixed Rate Refi | 2024-07-18 | 6.05% |
| Palatka 30 Year FHA | 2024-07-18 | 6.77% |
| Palatka 30 Year FHA Refi | 2024-07-18 | 6.79% |
| Palatka 30 Year USDA | 2024-07-18 | 6.43% |
| Palatka 30 Year USDA Refi | 2024-07-18 | 6.63% |
| Palatka 30 Year VA | 2024-07-18 | 6.48% |
| Palatka 30 Year VA Refi | 2024-07-18 | 6.4% |
Palatka 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 Palatka, 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.).
Palatka Average Closing Costs & Other Stats
Palatka, FL's 95 lenders originated 1,154
loans during 2023. The total origination value was $215,780,000, with an average loan value of
$186,984.
Palatka's average closing costs are $5,793.
The top Palatka lender as defined by loan originations is South State Bank, with
45 loans originated. Their average total fees are
$5,111, which is $2,854
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Palatka lenders (with over 10 loans originated) are
South State Bank ($5,111), Ameris Bank ($5,676), 21ST MORTGAGE CORPORATION ($6,115), QUICKEN LOANS, LLC ($6,965) and UNITED WHOLESALE MORTGAGE, LLC ($7,965).
The lowest rate Palatka lenders (with over 10 loans originated) are
South State Bank (6.66%), QUICKEN LOANS, LLC (6.86%), UNITED WHOLESALE MORTGAGE, LLC (6.91%), Ameris Bank (7.07%) and 21ST MORTGAGE CORPORATION (7.86%).
Palatka, 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 | $23,075,000 | $21,835,000 | -5.4% | 10.1% |
| QUICKEN LOANS, LLC | $16,680,000 | $15,850,000 | -5.0% | 7.3% |
| South State Bank | $16,880,000 | $15,725,000 | -6.8% | 7.3% |
| 21ST MORTGAGE CORPORATION | $6,500,000 | $8,035,000 | 23.6% | 3.7% |
| VYSTAR | $15,265,000 | $7,590,000 | -50.3% | 3.5% |
| Mortgage Research Center, LLC | $6,650,000 | $6,920,000 | 4.1% | 3.2% |
| Ameris Bank | $3,865,000 | $6,775,000 | 75.3% | 3.1% |
| UNION HOME MORTGAGE CORP. | $4,970,000 | $4,900,000 | -1.4% | 2.3% |
| NAVY FEDERAL CREDIT UNION | $4,385,000 | $3,585,000 | -18.2% | 1.7% |
| LOANDEPOT.COM, LLC | $5,870,000 | $3,545,000 | -39.6% | 1.6% |
| AgFirst Farm Credit Bank | $2,375,000 | $3,295,000 | 38.7% | 1.5% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $2,525,000 | $3,260,000 | 29.1% | 1.5% |
| INSPIRE HOME LOANS INC. | $1,935,000 | $3,210,000 | 65.9% | 1.5% |
| CROSSCOUNTRY MORTGAGE, LLC | $4,680,000 | $3,140,000 | -32.9% | 1.5% |
| Equity Prime Mortgage LLC | $1,210,000 | $3,045,000 | 151.7% | 1.4% |
| Truist | $1,380,000 | $2,730,000 | 97.8% | 1.3% |
| 1ST SIGNATURE LENDING, LLC | $2,695,000 | $2,670,000 | -0.9% | 1.2% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $675,000 | $2,670,000 | 295.6% | 1.2% |
| FIRST MORTGAGE COMPANY, INC. | $4,085,000 | $2,495,000 | -38.9% | 1.2% |
| Flagstar Bank, FSB | $2,500,000 | $2,275,000 | -9.0% | 1.1% |
| Bank of England | $2,170,000 | $2,260,000 | 4.1% | 1.0% |
| PENNYMAC LOAN SERVICES, LLC | $2,005,000 | $2,155,000 | 7.5% | 1.0% |
| ACADEMY MORTGAGE CORPORATION | $1,880,000 | $2,140,000 | 13.8% | 1.0% |
| MOVEMENT MORTGAGE, LLC | $2,555,000 | $1,885,000 | -26.2% | 0.9% |
| AMERICAN FINANCIAL RESOURCES, INC. | $2,245,000 | $1,850,000 | -17.6% | 0.9% |
| TD Bank | $4,240,000 | $1,785,000 | -57.9% | 0.8% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $4,845,000 | $1,735,000 | -64.2% | 0.8% |
| TRIAD FINANCIAL SERVICES, INC. | $2,435,000 | $1,730,000 | -29.0% | 0.8% |
| PLAZA HOME MORTGAGE, INC. | $550,000 | $1,695,000 | 208.2% | 0.8% |
| Seacoast National Bank | $145,000 | $1,675,000 | 1,055.2% | 0.8% |
| SOUTHWEST STAGE FUNDING, LLC | $3,165,000 | $1,535,000 | -51.5% | 0.7% |
| CARDINAL FINANCIAL | $3,015,000 | $1,525,000 | -49.4% | 0.7% |
| Regions Bank | $2,175,000 | $1,465,000 | -32.6% | 0.7% |
| First Federal Bank | $3,600,000 | $1,450,000 | -59.7% | 0.7% |
| BROKER SOLUTIONS, INC. | $1,255,000 | $1,425,000 | 13.5% | 0.7% |
| AMERICAN FINANCIAL NETWORK, INC. | $1,410,000 | n/a | 0.7% | |
| Capital City Bank | $2,715,000 | $1,330,000 | -51.0% | 0.6% |
| LENDINGHOME FUNDING CORPORATION | $890,000 | $1,225,000 | 37.6% | 0.6% |
| Mr. Cooper ( Nationstar Mortgage ) | $2,085,000 | $1,210,000 | -42.0% | 0.6% |
| Capital City Home Loans, LLC | $2,525,000 | $1,180,000 | -53.3% | 0.5% |
| Century Mortgage Company DBA Century Lending Company | $1,630,000 | $1,155,000 | -29.1% | 0.5% |
| NEWREZ LLC | $945,000 | $1,120,000 | 18.5% | 0.5% |
| CMG MORTGAGE, INC. | $2,150,000 | $1,070,000 | -50.2% | 0.5% |
| Mortgage Lenders Investment Trading Corporation | $1,190,000 | $1,020,000 | -14.3% | 0.5% |
| U.S. Bank | $1,510,000 | $1,020,000 | -32.5% | 0.5% |
| FLORIDA | $1,025,000 | $1,010,000 | -1.5% | 0.5% |
| HOMESTAR FINANCIAL CORPORATION | $1,845,000 | $1,000,000 | -45.8% | 0.5% |
| MID AMERICA MORTGAGE, INC. | $205,000 | $990,000 | 382.9% | 0.5% |
| Carrington Mortgage Services, LLC | $3,220,000 | $925,000 | -71.3% | 0.4% |
| PACIFIC RESIDENTIAL MORTGAGE, LLC | $580,000 | $905,000 | 56.0% | 0.4% |
| SUCCESS MORTGAGE PARTNERS, INC. | $645,000 | $895,000 | 38.8% | 0.4% |
| Paramount Residential Mortgage Group, Inc. | $1,465,000 | $870,000 | -40.6% | 0.4% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $1,300,000 | $865,000 | -33.5% | 0.4% |
| VILLAGE CAPITAL MORTGAGE | $445,000 | $855,000 | 92.1% | 0.4% |
| HOMEOWNERS FINANCIAL GROUP USA, LLC | $545,000 | $850,000 | 56.0% | 0.4% |
| FREEDOM MORTGAGE CORPORATION | $2,450,000 | $845,000 | -65.5% | 0.4% |
| Bank of America | $3,110,000 | $835,000 | -73.2% | 0.4% |
| Central Bank | $805,000 | n/a | 0.4% | |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $795,000 | n/a | 0.4% | |
| GUARANTEED RATE, INC. | $705,000 | $770,000 | 9.2% | 0.4% |
| FBC MORTGAGE, LLC | $245,000 | $745,000 | 204.1% | 0.3% |
| LENDINGONE, LLC | $215,000 | $745,000 | 246.5% | 0.3% |
| Citizens First Bank | $725,000 | n/a | 0.3% | |
| GERSHMAN INVESTMENT CORP. | $725,000 | n/a | 0.3% | |
| Ixonia Bank | $205,000 | $695,000 | 239.0% | 0.3% |
| Centennial Bank | $660,000 | n/a | 0.3% | |
| MILEND, INC. | $650,000 | n/a | 0.3% | |
| CAMPUS USA | $1,340,000 | $645,000 | -51.9% | 0.3% |
| THE MORTGAGE FIRM, INC. | $105,000 | $645,000 | 514.3% | 0.3% |
| FINANCE OF AMERICA REVERSE LLC | $625,000 | n/a | 0.3% | |
| PENTAGON FEDERAL CREDIT UNION | $200,000 | $600,000 | 200.0% | 0.3% |
| Plains Commerce Bank | $1,170,000 | $575,000 | -50.9% | 0.3% |
| Waterstone Mortgage Corporation | $540,000 | $570,000 | 5.6% | 0.3% |
| Nations Lending Corporation | $2,310,000 | $555,000 | -76.0% | 0.3% |
| EMM LOANS LLC | $460,000 | $540,000 | 17.4% | 0.3% |
| GUILD MORTGAGE COMPANY | $245,000 | $535,000 | 118.4% | 0.2% |
| SunState Federal Credit Union | $560,000 | $515,000 | -8.0% | 0.2% |
| JAX | $125,000 | $505,000 | 304.0% | 0.2% |
| OCMBC, INC. | $500,000 | n/a | 0.2% | |
| Commerce Home Mortgage, Inc. | $485,000 | n/a | 0.2% | |
| CHURCHILL MORTGAGE CORPORATION | $305,000 | $460,000 | 50.8% | 0.2% |
| Network Funding, L.P. | $420,000 | $460,000 | 9.5% | 0.2% |
| Coastline Federal Credit Union | $450,000 | n/a | 0.2% | |
| USAA Federal Savings Bank | $855,000 | $445,000 | -48.0% | 0.2% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $495,000 | $440,000 | -11.1% | 0.2% |
| BAY EQUITY LLC | $440,000 | n/a | 0.2% | |
| First Horizon Bank | $415,000 | $435,000 | 4.8% | 0.2% |
| United Community Bank | $430,000 | n/a | 0.2% | |
| BELCO COMMUNITY CREDIT UNION | $425,000 | n/a | 0.2% | |
| The Huntington National Bank | $185,000 | $425,000 | 129.7% | 0.2% |
| DEEPHAVEN MORTGAGE LLC | $415,000 | n/a | 0.2% | |
| The First, A National Banking Association | $415,000 | n/a | 0.2% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $1,915,000 | $410,000 | -78.6% | 0.2% |
| PNC Bank | $1,910,000 | $405,000 | -78.8% | 0.2% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $195,000 | $400,000 | 105.1% | 0.2% |
| Goldwater Bank, N.A. | $395,000 | n/a | 0.2% | |
| Advisors Mortgage Group, L.L.C. | $300,000 | $390,000 | 30.0% | 0.2% |
| University Bank | $385,000 | n/a | 0.2% | |
| Wells Fargo Bank | $3,510,000 | $380,000 | -89.2% | 0.2% |
| COMMUNITY FIRST CREDIT UNION OF FLO | $1,195,000 | $360,000 | -69.9% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $2,035,000 | $355,000 | -82.6% | 0.2% |
| Discover Bank | $350,000 | n/a | 0.2% | |
| ABSOLUTE HOME MORTGAGE CORPORATION | $145,000 | $345,000 | 137.9% | 0.2% |
| Sierra Pacific Mortgage Company, Inc. | $195,000 | $330,000 | 69.2% | 0.2% |
| FAIRWINDS CREDIT UNION | $85,000 | $325,000 | 282.4% | 0.2% |
| A&D Mortgage LLC | $185,000 | $320,000 | 73.0% | 0.1% |
| SIRVA MORTGAGE, INC. | $255,000 | $315,000 | 23.5% | 0.1% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $1,725,000 | $310,000 | -82.0% | 0.1% |
| Coastal Community Bank | $310,000 | n/a | 0.1% | |
| First Central State Bank | $305,000 | n/a | 0.1% | |
| GENEVA FINANCIAL, LLC | $470,000 | $300,000 | -36.2% | 0.1% |
| GUARANTEED RATE AFFINITY, LLC | $300,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $295,000 | $300,000 | 1.7% | 0.1% |
| Citizens Bank | $1,375,000 | $295,000 | -78.5% | 0.1% |
| Fifth Third Bank | $700,000 | $295,000 | -57.9% | 0.1% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $380,000 | $280,000 | -26.3% | 0.1% |
| First Western Trust Bank | $275,000 | n/a | 0.1% | |
| NETWORK CAPITAL FUNDING CORPORATION | $145,000 | $275,000 | 89.7% | 0.1% |
| NATIONS DIRECT MORTGAGE, LLC | $405,000 | $270,000 | -33.3% | 0.1% |
| WATSON MORTGAGE CORP. | $1,215,000 | $270,000 | -77.8% | 0.1% |
| Third Federal Savings and Loan Association of Cleveland | $810,000 | $260,000 | -67.9% | 0.1% |
| MICHIGAN MUTUAL, INC. | $285,000 | $255,000 | -10.5% | 0.1% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $255,000 | n/a | 0.1% | |
| Suncoast Credit Union | $120,000 | $255,000 | 112.5% | 0.1% |
| EVERETT FINANCIAL, INC. | $350,000 | $245,000 | -30.0% | 0.1% |
| SUN WEST MORTGAGE COMPANY, INC. | $190,000 | $245,000 | 28.9% | 0.1% |
| The Federal Savings Bank | $225,000 | $245,000 | 8.9% | 0.1% |
| Summit Mortgage Corporation | $395,000 | $240,000 | -39.2% | 0.1% |
| CALCON MUTUAL MORTGAGE LLC | $305,000 | $235,000 | -23.0% | 0.1% |
| Acre Mortgage and Financial Inc | $215,000 | $225,000 | 4.7% | 0.1% |
| Citibank | $225,000 | n/a | 0.1% | |
| First Federal Bank, A FSB | $225,000 | n/a | 0.1% | |
| HOME SOLUTION LENDERS INC. | $225,000 | n/a | 0.1% | |
| Renasant Bank | $165,000 | $225,000 | 36.4% | 0.1% |
| ACOPIA, LLC | $220,000 | n/a | 0.1% | |
| Prosperity Home Mortgage, LLC | $1,055,000 | $220,000 | -79.1% | 0.1% |
| HOMESIDE FINANCIAL, LLC | $1,205,000 | $215,000 | -82.2% | 0.1% |
| Preston Home Loans Inc | $215,000 | n/a | 0.1% | |
| RELIANCE FIRST CAPITAL, LLC | $125,000 | $215,000 | 72.0% | 0.1% |
| The Central Trust Bank | $215,000 | n/a | 0.1% | |
| SWBC MORTGAGE CORPORATION | $515,000 | $205,000 | -60.2% | 0.1% |
| Bell Bank | $195,000 | n/a | 0.1% | |
| NBKC BANK | $235,000 | $195,000 | -17.0% | 0.1% |
| NEW DAY FINANCIAL, LLC | $400,000 | $195,000 | -51.3% | 0.1% |
| AMERICAN BANCSHARES MORTGAGE | $355,000 | $190,000 | -46.5% | 0.1% |
| Ally Bank | $185,000 | n/a | 0.1% | |
| OPEN MORTGAGE, LLC | $105,000 | $175,000 | 66.7% | 0.1% |
| ZILLOW HOME LOANS, LLC | $75,000 | $165,000 | 120.0% | 0.1% |
| Hometown Equity Mortgage, LLC | $615,000 | $155,000 | -74.8% | 0.1% |
| Midwest Mortgage Associates Corporation | $155,000 | n/a | 0.1% | |
| M&T Bank | $155,000 | n/a | 0.1% | |
| POLARIS HOME FUNDING CORP. | $155,000 | n/a | 0.1% | |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $155,000 | n/a | 0.1% | |
| TOP FLITE FINANCIAL, INC. | $395,000 | $150,000 | -62.0% | 0.1% |
| ENDEAVOR CAPITAL, LLC. | $145,000 | n/a | 0.1% | |
| First Savings Bank | $145,000 | n/a | 0.1% | |
| Gateway First Bank | $145,000 | n/a | 0.1% | |
| TOWNE MORTGAGE COMPANY | $470,000 | $145,000 | -69.1% | 0.1% |
| CIS Financial Services, Inc. | $135,000 | n/a | 0.1% | |
| Connexus Credit Union | $135,000 | n/a | 0.1% | |
| FirstBank | $135,000 | n/a | 0.1% | |
| LEADERONE FINANCIAL CORPORATION | $135,000 | n/a | 0.1% | |
| PUBLIX EMPLOYEES | $135,000 | n/a | 0.1% | |
| CANOPY MORTGAGE, LLC | $125,000 | n/a | 0.1% | |
| Loan Simple, Inc. | $5,000 | $125,000 | 2,400.0% | 0.1% |
| RANLIFE, INC. | $175,000 | $125,000 | -28.6% | 0.1% |
| The Loan Store, Inc. | $125,000 | n/a | 0.1% | |
| 121 FINANCIAL | $375,000 | $120,000 | -68.0% | 0.1% |
| Blackhawk Bank & Trust | $115,000 | n/a | 0.1% | |
| Citadel Servicing Corporation | $355,000 | $115,000 | -67.6% | 0.1% |
| First National Bank of America | $115,000 | n/a | 0.1% | |
| LAKEVIEW LOAN SERVICING, LLC | $760,000 | $115,000 | -84.9% | 0.1% |
| RF Renovo Management Company, LLC | $115,000 | n/a | 0.1% | |
| S1L, Inc. | $115,000 | n/a | 0.1% | |
| Barrington Bank & Trust Company, N.A. | $405,000 | $105,000 | -74.1% | 0.0% |
| JPMorgan Chase Bank | $1,905,000 | $105,000 | -94.5% | 0.0% |
| LOANPAL, LLC | $225,000 | $105,000 | -53.3% | 0.0% |
| Auto Club Trust, FSB | $85,000 | n/a | 0.0% | |
| MANN FINANCIAL INC. | $85,000 | n/a | 0.0% | |
| Northpointe Bank | $85,000 | n/a | 0.0% | |
| EASTMAN | $75,000 | n/a | 0.0% | |
| LONGBRIDGE FINANCIAL, LLC | $75,000 | n/a | 0.0% | |
| SPACE COAST Credit Union | $320,000 | $60,000 | -81.3% | 0.0% |
| MIDFLORIDA | $390,000 | $55,000 | -85.9% | 0.0% |
| Valley National Bank | $45,000 | $45,000 | 0.0% | 0.0% |
| DELTA COMMUNITY CREDIT UNION | $105,000 | $35,000 | -66.7% | 0.0% |
| Transportation Federal Credit Union | $35,000 | n/a | 0.0% | |
| Figure Lending LLC | $355,000 | $30,000 | -91.5% | 0.0% |
| INTERRA CREDIT UNION | $25,000 | n/a | 0.0% |
Palatka's top lender by overall market share is UNITED WHOLESALE MORTGAGE, LLC, with 10.1% market share. In second place, with 7.3%, is QUICKEN LOANS, LLC, having originated $15,850,000 in loans. In third place, with 7.3%, is South State Bank, having originated $15,725,000 in loans. In fourth place, with 3.7%, is 21ST MORTGAGE CORPORATION, having originated $8,035,000 in loans. In fifth place, with 3.5%, is VYSTAR, having originated $7,590,000 in loans.
Palatka, FL Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 762 | $162,940,000 | $213,832 |
| Cash Out Refi | 212 | $31,550,000 | $148,821 |
| Other | 78 | $7,470,000 | $95,769 |
| Home Improvement | 60 | $7,020,000 | $117,000 |
| Refi | 42 | $6,800,000 | $161,905 |
Palatka's most frequently cited loan purpose was Home Purchase, with 762 originations. The 2nd most popular reason was Cash Out Refi, with 212 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 416 | $83,740,000 | $201,298 |
| 7-8% | 343 | $68,955,000 | $201,035 |
| Over 8% | 184 | $24,650,000 | $133,967 |
| 5-6% | 154 | $32,020,000 | $207,922 |
| <2.5% | 26 | $440,000 | $16,923 |
| 4-5% | 13 | $3,265,000 | $251,154 |
| 2.5-3% | 6 | $730,000 | $121,667 |
During 2023, Palatka's most frequently originated rate bucket was 6-7%, with 416 originations.
Loan Sizing (Palatka, FL MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 438 | $66,040,000 | $150,776 |
| $200k-400k | 401 | $106,245,000 | $264,950 |
| $100,000 or less | 264 | $14,940,000 | $56,591 |
| $400k-600k | 34 | $15,640,000 | $460,000 |
| $600k-1000k | 15 | $10,605,000 | $707,000 |
| $Over $1MM | 2 | $2,310,000 | $1,155,000 |
Palatka's loan sizing saw the bucket of loans from $100k-200k with 438 originations, totaling $66,040,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 552 | $121,760,000 | $220,580 |
| 60-80% | 226 | $51,160,000 | $226,372 |
| 20-40% | 114 | $10,420,000 | $91,404 |
| Under 20% | 110 | $4,290,000 | $39,000 |
| 40-60% | 105 | $15,945,000 | $151,857 |
| Over 100% | 37 | $9,755,000 | $263,649 |
Palatka's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 552 originations, totaling $121,760,000 in origination value.