Pearsall Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Pearsall averaged
6.88%
for the week of 2024-11-14, compared to the national average of
6.78% for the same period.
The average rate for the prior week (2024-11-07) was
6.99% and
one month ago for the week of 2024-10-10, the
average rate was 6.52%.
Pearsall's average rate one year ago was 7.7%.
For refis of the same type during the week of 2024-11-14, the average rate
was 6.98%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-14 | 6.78% |
| Pearsall 30 Year Fixed Rate | 2024-11-14 | 6.88% |
| Pearsall 30 Year Fixed Rate Refi | 2024-11-14 | 6.98% |
| Pearsall 15 Year Fixed Rate | 2024-11-14 | 6.19% |
| Pearsall 15 Year Fixed Rate Refi | 2024-11-14 | 6.29% |
| Pearsall 30 Year FHA | 2024-11-14 | -0.1% |
| Pearsall 30 Year FHA Refi | 2024-11-14 | -0.1% |
| Pearsall 30 Year USDA | 2024-11-14 | 0% |
| Pearsall 30 Year USDA Refi | 2024-11-14 | 0.2% |
| Pearsall 30 Year VA | 2024-11-14 | 0.2% |
| Pearsall 30 Year VA Refi | 2024-11-14 | -0.1% |
Pearsall 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 Pearsall, TX 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.).
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| 21ST MORTGAGE CORPORATION | 3 | 8.22% | $7,579 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 2 | 6.06% | $6,042 |
| Wells Fargo Bank | 2 | 7.44% | $5,921 |
| LOANDEPOT.COM, LLC | 2 | 6.49% | $10,345 |
| QUICKEN LOANS, LLC | 2 | 6.99% | $5,547 |
| SECURITY SERVICE | 2 | 6.81% | $3,646 |
| UNITED WHOLESALE MORTGAGE, LLC | 2 | 7.76% | $4,039 |
| VANDERBILT MORTGAGE AND FINANCE, INC. | 2 | 8.87% | $7,838 |
| MORTGAGE FINANCIAL SERVICES, LLC | 1 | 6.13% | $15,318 |
| Mr. Cooper ( Nationstar Mortgage ) | 1 | 7.13% | $10,632 |
| THRIVE MORTGAGE, LLC | 1 | 6.63% | $11,820 |
| S1L, Inc. | 1 | 7.50% | $7,775 |
| GUARANTEED RATE, INC. | 1 | 7.25% | $5,215 |
| Semper Home Loans, Inc. | 1 | 6.50% | $15,764 |
| SUN WEST MORTGAGE COMPANY, INC. | 1 | 6.11% | $3,284 |
| GUILD MORTGAGE COMPANY | 1 | 7.50% | $9,248 |
| Jefferson Bank | 1 | 6.38% | $5,124 |
| JPMorgan Chase Bank | 1 | 8.13% | $1,927 |
| TEXAS DOW EMPLOYEES CREDIT UNION | 1 | 7.63% | $5,433 |
| LOANPAL, LLC | 1 | 6.88% | $7,277 |
Pearsall Average Closing Costs & Other Stats
Pearsall, TX's 20 lenders originated 117
loans during 2023. The total origination value was $21,365,000, with an average loan value of
$182,607.
Pearsall's average closing costs are $6,908.
The top Pearsall lender as defined by loan originations is 21ST MORTGAGE CORPORATION, with
3 loans originated. Their average total fees are
$7,579, which is $1,537
higher than the next largest lender,
FAIRWAY INDEPENDENT MORTGAGE CORPORATION.
The lowest fee Pearsall lenders (with over 10 loans originated) are
.
The lowest rate Pearsall lenders (with over 10 loans originated) are
.
Pearsall, TX 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 |
|---|---|---|---|---|
| 21ST MORTGAGE CORPORATION | $4,425,000 | $4,570,000 | 3.3% | 21.4% |
| UNITED WHOLESALE MORTGAGE, LLC | $635,000 | $2,370,000 | 273.2% | 11.1% |
| Mortgage Research Center, LLC | $865,000 | $1,360,000 | 57.2% | 6.4% |
| SECURITY SERVICE | $935,000 | $1,195,000 | 27.8% | 5.6% |
| LOANDEPOT.COM, LLC | $165,000 | $735,000 | 345.5% | 3.4% |
| SOUTHWEST STAGE FUNDING, LLC | $1,445,000 | $710,000 | -50.9% | 3.3% |
| BROKER SOLUTIONS, INC. | $105,000 | $680,000 | 547.6% | 3.2% |
| TRIAD FINANCIAL SERVICES, INC. | $1,020,000 | $560,000 | -45.1% | 2.6% |
| THRIVE MORTGAGE, LLC | $1,330,000 | $525,000 | -60.5% | 2.5% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $395,000 | $505,000 | 27.8% | 2.4% |
| First Option Mortgage, LLC | $500,000 | n/a | 2.3% | |
| QUICKEN LOANS, LLC | $915,000 | $475,000 | -48.1% | 2.2% |
| CARDINAL FINANCIAL | $860,000 | $410,000 | -52.3% | 1.9% |
| Wells Fargo Bank | $145,000 | $410,000 | 182.8% | 1.9% |
| MORTGAGE FINANCIAL SERVICES, LLC | $385,000 | n/a | 1.8% | |
| AMCAP MORTGAGE, LTD. | $835,000 | $380,000 | -54.5% | 1.8% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $370,000 | n/a | 1.7% | |
| Gateway First Bank | $690,000 | $310,000 | -55.1% | 1.5% |
| Semper Home Loans, Inc. | $305,000 | n/a | 1.4% | |
| Farm Credit Mid-America, ACA | $295,000 | n/a | 1.4% | |
| S1L, Inc. | $285,000 | n/a | 1.3% | |
| CALCON MUTUAL MORTGAGE LLC | $265,000 | n/a | 1.2% | |
| JPMorgan Chase Bank | $45,000 | $260,000 | 477.8% | 1.2% |
| AMERICAN HOMESTAR MORTGAGE, L.L.C. | $335,000 | $255,000 | -23.9% | 1.2% |
| AMERICAN FINANCIAL RESOURCES, INC. | $355,000 | $215,000 | -39.4% | 1.0% |
| GUILD MORTGAGE COMPANY | $215,000 | n/a | 1.0% | |
| SUMMIT FUNDING, INC. | $215,000 | n/a | 1.0% | |
| Mr. Cooper ( Nationstar Mortgage ) | $280,000 | $205,000 | -26.8% | 1.0% |
| OCMBC, INC. | $205,000 | n/a | 1.0% | |
| V.I.P. MORTGAGE, INC. | $205,000 | n/a | 1.0% | |
| FIRSTMARK | $120,000 | $190,000 | 58.3% | 0.9% |
| Magnolia Bank | $190,000 | n/a | 0.9% | |
| MOVEMENT MORTGAGE, LLC | $185,000 | $170,000 | -8.1% | 0.8% |
| NEWREZ LLC | $310,000 | $155,000 | -50.0% | 0.7% |
| CITY FIRST MORTGAGE SERVICES, L.L.C. | $145,000 | n/a | 0.7% | |
| Plains Commerce Bank | $145,000 | n/a | 0.7% | |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $1,045,000 | $135,000 | -87.1% | 0.6% |
| TEXAS DOW EMPLOYEES CREDIT UNION | $135,000 | n/a | 0.6% | |
| CORNERSTONE HOME LENDING, INC. | $125,000 | n/a | 0.6% | |
| LOANPAL, LLC | $125,000 | n/a | 0.6% | |
| GUARANTEED RATE, INC. | $105,000 | n/a | 0.5% | |
| SUN WEST MORTGAGE COMPANY, INC. | $105,000 | n/a | 0.5% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $85,000 | $95,000 | 11.8% | 0.4% |
| CSL Financial, LLC | $225,000 | $95,000 | -57.8% | 0.4% |
| Jefferson Bank | $175,000 | $75,000 | -57.1% | 0.4% |
Pearsall's top lender by overall market share is 21ST MORTGAGE CORPORATION, with 21.4% market share. In second place, with 11.1%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $2,370,000 in loans. In third place, with 6.4%, is Mortgage Research Center, LLC, having originated $1,360,000 in loans. In fourth place, with 5.6%, is SECURITY SERVICE, having originated $1,195,000 in loans. In fifth place, with 3.4%, is LOANDEPOT.COM, LLC, having originated $735,000 in loans.
Pearsall, TX Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 99 | $18,215,000 | $183,990 |
| Cash Out Refi | 8 | $1,510,000 | $188,750 |
| Refi | 6 | $1,300,000 | $216,667 |
| Other | 4 | $340,000 | $85,000 |
Pearsall's most frequently cited loan purpose was Home Purchase, with 99 originations. The 2nd most popular reason was Cash Out Refi, with 8 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 39 | $5,715,000 | $146,538 |
| 7-8% | 33 | $5,795,000 | $175,606 |
| 6-7% | 31 | $6,285,000 | $202,742 |
| 5-6% | 11 | $3,555,000 | $323,182 |
| <2.5% | 3 | $15,000 | $5,000 |
During 2023, Pearsall's most frequently originated rate bucket was Over 8%, with 39 originations.
Loan Sizing (Pearsall, TX MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 63 | $8,825,000 | $140,079 |
| $200k-400k | 32 | $8,450,000 | $264,063 |
| $100,000 or less | 16 | $1,050,000 | $65,625 |
| $400k-600k | 6 | $3,040,000 | $506,667 |
Pearsall's loan sizing saw the bucket of loans from $100k-200k with 63 originations, totaling $8,825,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 82 | $15,550,000 | $189,634 |
| 60-80% | 18 | $3,620,000 | $201,111 |
| 40-60% | 9 | $1,815,000 | $201,667 |
| Under 20% | 4 | $50,000 | $12,500 |
| 20-40% | 2 | $150,000 | $75,000 |
| Over 100% | 1 | $85,000 | $85,000 |
Pearsall's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 82 originations, totaling $15,550,000 in origination value.