Paragould Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Paragould averaged
6.95%
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
7.17% and
one month ago for the week of 2024-06-13, the
average rate was 7.13%.
Paragould's average rate one year ago was 6.94%.
For refis of the same type during the week of 2024-07-18, the average rate
was 6.77%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-07-18 | 6.77% |
| Paragould 30 Year Fixed Rate | 2024-07-18 | 6.95% |
| Paragould 30 Year Fixed Rate Refi | 2024-07-18 | 6.77% |
| Paragould 15 Year Fixed Rate | 2024-07-18 | 6.15% |
| Paragould 15 Year Fixed Rate Refi | 2024-07-18 | 6.05% |
| Paragould 30 Year FHA | 2024-07-18 | 6.79% |
| Paragould 30 Year FHA Refi | 2024-07-18 | 6.39% |
| Paragould 30 Year USDA | 2024-07-18 | 6.89% |
| Paragould 30 Year USDA Refi | 2024-07-18 | 6.43% |
| Paragould 30 Year VA | 2024-07-18 | 6.2% |
| Paragould 30 Year VA Refi | 2024-07-18 | 6.5% |
Paragould 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 Paragould, AR 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.).
Paragould Average Closing Costs & Other Stats
Paragould, AR's 47 lenders originated 883
loans during 2023. The total origination value was $139,775,000, with an average loan value of
$158,296.
Paragould's average closing costs are $4,269.
The top Paragould lender as defined by loan originations is MORTGAGE INVESTORS GROUP, INC., with
21 loans originated. Their average total fees are
$4,294, which is $1,173
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Paragould lenders (with over 10 loans originated) are
First National Bank ($1,227), Centennial Bank ($2,980), Simmons Bank ($3,400), MORTGAGE INVESTORS GROUP, INC. ($4,294) and DAS Acquisition Company, LLC ($4,618).
The lowest rate Paragould lenders (with over 10 loans originated) are
MORTGAGE INVESTORS GROUP, INC. (5.75%), Simmons Bank (6.47%), Centennial Bank (6.63%), QUICKEN LOANS, LLC (6.63%) and DAS Acquisition Company, LLC (7.27%).
Paragould, AR 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 |
|---|---|---|---|---|
| Focus Bank | $12,850,000 | $12,305,000 | -4.2% | 8.8% |
| First National Bank | $25,685,000 | $10,270,000 | -60.0% | 7.3% |
| DAS Acquisition Company, LLC | $20,805,000 | $9,940,000 | -52.2% | 7.1% |
| MORTGAGE INVESTORS GROUP, INC. | $7,190,000 | $7,945,000 | 10.5% | 5.7% |
| Arvest Bank | $6,565,000 | $7,425,000 | 13.1% | 5.3% |
| QUICKEN LOANS, LLC | $12,730,000 | $6,870,000 | -46.0% | 4.9% |
| Simmons Bank | $14,775,000 | $6,705,000 | -54.6% | 4.8% |
| First Financial Bank | $3,335,000 | $5,665,000 | 69.9% | 4.1% |
| Unico Bank | $6,920,000 | $5,660,000 | -18.2% | 4.0% |
| EVERETT FINANCIAL, INC. | $4,000,000 | $4,360,000 | 9.0% | 3.1% |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $5,555,000 | $4,285,000 | -22.9% | 3.1% |
| Mortgage Research Center, LLC | $2,195,000 | $3,735,000 | 70.2% | 2.7% |
| Southern Bank | $4,370,000 | $3,435,000 | -21.4% | 2.5% |
| Centennial Bank | $4,495,000 | $3,105,000 | -30.9% | 2.2% |
| Midwest Mortgage Associates Corporation | $2,705,000 | n/a | 1.9% | |
| BancorpSouth | $4,355,000 | $2,545,000 | -41.6% | 1.8% |
| BROKER SOLUTIONS, INC. | $1,810,000 | $2,360,000 | 30.4% | 1.7% |
| First Community Bank | $3,295,000 | $2,075,000 | -37.0% | 1.5% |
| ENCORE BANK | $2,285,000 | $2,065,000 | -9.6% | 1.5% |
| FirstTrust Home Loans, Inc. | $875,000 | $2,010,000 | 129.7% | 1.4% |
| Farm Credit Mid-America, ACA | $1,615,000 | n/a | 1.2% | |
| Nations Lending Corporation | $185,000 | $1,550,000 | 737.8% | 1.1% |
| Sierra Pacific Mortgage Company, Inc. | $400,000 | $1,465,000 | 266.3% | 1.0% |
| Evolve Bank & Trust | $1,425,000 | $1,395,000 | -2.1% | 1.0% |
| Citizens Bank | $4,305,000 | $1,295,000 | -69.9% | 0.9% |
| Regions Bank | $860,000 | $1,240,000 | 44.2% | 0.9% |
| SUCCESS Federal Credit Union | $1,230,000 | $1,110,000 | -9.8% | 0.8% |
| Cross County Bank | $880,000 | n/a | 0.6% | |
| WILLOW BEND MORTGAGE COMPANY, LLC | $1,585,000 | $835,000 | -47.3% | 0.6% |
| Bank of England | $535,000 | $830,000 | 55.1% | 0.6% |
| Wells Fargo Bank | $610,000 | $805,000 | 32.0% | 0.6% |
| STOCKTON MORTGAGE CORPORATION | $400,000 | $775,000 | 93.8% | 0.6% |
| 21ST MORTGAGE CORPORATION | $770,000 | $755,000 | -1.9% | 0.5% |
| ACADEMY MORTGAGE CORPORATION | $1,235,000 | $735,000 | -40.5% | 0.5% |
| LOANDEPOT.COM, LLC | $1,800,000 | $715,000 | -60.3% | 0.5% |
| Peoples Bank | $710,000 | n/a | 0.5% | |
| UNITED WHOLESALE MORTGAGE, LLC | $1,820,000 | $700,000 | -61.5% | 0.5% |
| First Horizon Bank | $1,345,000 | $695,000 | -48.3% | 0.5% |
| The Farmers & Merchants Bank | $715,000 | $690,000 | -3.5% | 0.5% |
| AMERICAN FINANCIAL RESOURCES, INC. | $620,000 | n/a | 0.4% | |
| CALIBER HOME LOANS, INC. | $1,210,000 | $615,000 | -49.2% | 0.4% |
| SOUTHWEST STAGE FUNDING, LLC | $610,000 | n/a | 0.4% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $790,000 | $545,000 | -31.0% | 0.4% |
| PENNYMAC LOAN SERVICES, LLC | $910,000 | $510,000 | -44.0% | 0.4% |
| Carrington Mortgage Services, LLC | $490,000 | $480,000 | -2.0% | 0.3% |
| SENTE MORTGAGE, INC. | $465,000 | n/a | 0.3% | |
| Cornerstone First Mortgage, Inc | $460,000 | n/a | 0.3% | |
| FREEDOM MORTGAGE CORPORATION | $1,050,000 | $440,000 | -58.1% | 0.3% |
| AMERISAVE MORTGAGE CORPORATION | $2,640,000 | $435,000 | -83.5% | 0.3% |
| Eagle Bank and Trust Company | $1,500,000 | $430,000 | -71.3% | 0.3% |
| Mr. Cooper ( Nationstar Mortgage ) | $705,000 | $420,000 | -40.4% | 0.3% |
| CROSSCOUNTRY MORTGAGE, LLC | $395,000 | n/a | 0.3% | |
| JPMorgan Chase Bank | $270,000 | $385,000 | 42.6% | 0.3% |
| SUN WEST MORTGAGE COMPANY, INC. | $370,000 | n/a | 0.3% | |
| Flanagan State Bank | $115,000 | $360,000 | 213.0% | 0.3% |
| Century Mortgage Company DBA Century Lending Company | $350,000 | n/a | 0.3% | |
| NEW DAY FINANCIAL, LLC | $845,000 | $315,000 | -62.7% | 0.2% |
| Plains Commerce Bank | $315,000 | n/a | 0.2% | |
| Flagstar Bank, FSB | $440,000 | $305,000 | -30.7% | 0.2% |
| GMFS LLC | $305,000 | n/a | 0.2% | |
| Signature Bank of Arkansas | $75,000 | $305,000 | 306.7% | 0.2% |
| ARC HOME LLC | $285,000 | n/a | 0.2% | |
| MID AMERICA MORTGAGE, INC. | $255,000 | n/a | 0.2% | |
| Deere Employees Credit Union | $610,000 | $250,000 | -59.0% | 0.2% |
| NAVY FEDERAL CREDIT UNION | $1,285,000 | $225,000 | -82.5% | 0.2% |
| GUILD MORTGAGE COMPANY | $570,000 | $220,000 | -61.4% | 0.2% |
| Paramount Residential Mortgage Group, Inc. | $215,000 | n/a | 0.2% | |
| Figure Lending LLC | $105,000 | $210,000 | 100.0% | 0.2% |
| TRIAD FINANCIAL SERVICES, INC. | $210,000 | n/a | 0.2% | |
| LIBERTY HOME MORTGAGE CORPORATION | $205,000 | n/a | 0.1% | |
| AMERICAN FINANCIAL NETWORK, INC. | $195,000 | n/a | 0.1% | |
| ENDEAVOR CAPITAL, LLC. | $195,000 | n/a | 0.1% | |
| Magnolia Bank | $195,000 | n/a | 0.1% | |
| BANK OF LITTLE ROCK MORTGAGE CORPORATION | $185,000 | n/a | 0.1% | |
| COMMUNITYAMERICA | $185,000 | n/a | 0.1% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $770,000 | $185,000 | -76.0% | 0.1% |
| ARKANSAS Federal Credit Union | $300,000 | $180,000 | -40.0% | 0.1% |
| First Security Bank | $250,000 | $170,000 | -32.0% | 0.1% |
| ZILLOW HOME LOANS, LLC | $165,000 | n/a | 0.1% | |
| FOUR POINTS | $305,000 | $155,000 | -49.2% | 0.1% |
| LAKEVIEW LOAN SERVICING, LLC | $410,000 | $155,000 | -62.2% | 0.1% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $165,000 | $155,000 | -6.1% | 0.1% |
| RUOFF MORTGAGE COMPANY, INC. | $125,000 | $155,000 | 24.0% | 0.1% |
| Ally Bank | $145,000 | n/a | 0.1% | |
| Truist | $55,000 | $145,000 | 163.6% | 0.1% |
| Discover Bank | $285,000 | $135,000 | -52.6% | 0.1% |
| FLAT BRANCH MORTGAGE, INC. | $135,000 | n/a | 0.1% | |
| CIS Financial Services, Inc. | $125,000 | n/a | 0.1% | |
| FINANCE OF AMERICA REVERSE LLC | $125,000 | n/a | 0.1% | |
| LENDINGHOME FUNDING CORPORATION | $125,000 | n/a | 0.1% | |
| The Central Trust Bank | $800,000 | $120,000 | -85.0% | 0.1% |
| ATLANTA POSTAL | $105,000 | n/a | 0.1% | |
| POLARIS HOME FUNDING CORP. | $105,000 | n/a | 0.1% | |
| Stifel Bank and Trust | $105,000 | n/a | 0.1% | |
| NEWREZ LLC | $75,000 | n/a | 0.1% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $65,000 | n/a | 0.0% | |
| Coastal Community Bank | $55,000 | n/a | 0.0% | |
| PNC Bank | $45,000 | n/a | 0.0% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $25,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $25,000 | n/a | 0.0% |
Paragould's top lender by overall market share is Focus Bank, with 8.8% market share. In second place, with 7.3%, is First National Bank, having originated $10,270,000 in loans. In third place, with 7.1%, is DAS Acquisition Company, LLC, having originated $9,940,000 in loans. In fourth place, with 5.7%, is MORTGAGE INVESTORS GROUP, INC., having originated $7,945,000 in loans. In fifth place, with 5.3%, is Arvest Bank, having originated $7,425,000 in loans.
Paragould, AR Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 616 | $109,350,000 | $177,516 |
| Refi | 86 | $13,460,000 | $156,512 |
| Cash Out Refi | 73 | $10,395,000 | $142,397 |
| Other | 70 | $4,110,000 | $58,714 |
| Home Improvement | 38 | $2,460,000 | $64,737 |
Paragould's most frequently cited loan purpose was Home Purchase, with 616 originations. The 2nd most popular reason was Refi, with 86 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 291 | $47,955,000 | $164,794 |
| 7-8% | 193 | $34,545,000 | $178,990 |
| Over 8% | 177 | $19,695,000 | $111,271 |
| 5-6% | 86 | $16,590,000 | $192,907 |
| <2.5% | 4 | $1,210,000 | $302,500 |
| 4-5% | 1 | $105,000 | $105,000 |
| 3-4% | 1 | $35,000 | $35,000 |
| 2.5-3% | 1 | $85,000 | $85,000 |
During 2023, Paragould's most frequently originated rate bucket was 6-7%, with 291 originations.
Loan Sizing (Paragould, AR MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 378 | $56,280,000 | $148,889 |
| $100,000 or less | 290 | $15,770,000 | $54,379 |
| $200k-400k | 187 | $49,605,000 | $265,267 |
| $400k-600k | 21 | $9,655,000 | $459,762 |
| $600k-1000k | 5 | $3,835,000 | $767,000 |
| $Over $1MM | 2 | $4,630,000 | $2,315,000 |
Paragould's loan sizing saw the bucket of loans from $100k-200k with 378 originations, totaling $56,280,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 398 | $73,860,000 | $185,578 |
| 60-80% | 153 | $30,345,000 | $198,333 |
| Under 20% | 67 | $1,795,000 | $26,791 |
| 40-60% | 63 | $7,415,000 | $117,698 |
| 20-40% | 58 | $3,660,000 | $63,103 |
| Over 100% | 14 | $3,140,000 | $224,286 |
Paragould's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 398 originations, totaling $73,860,000 in origination value.