Pearsall Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Pearsall averaged
6.47%
for the week of 2023-05-25, compared to the national average of
6.57% for the same period.
The average rate for the prior week (2023-05-18) was
6.49% and
one month ago for the week of 2023-04-20, the
average rate was 6.59%.
Pearsall's average rate one year ago was 5.35%.
For refis of the same type during the week of 2023-05-25, the average rate
was 7.17%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-05-25 | 6.57% |
| Pearsall 30 Year Fixed Rate | 2023-05-25 | 6.47% |
| Pearsall 30 Year Fixed Rate Refi | 2023-05-25 | 7.17% |
| Pearsall 15 Year Fixed Rate | 2023-05-25 | 5.97% |
| Pearsall 15 Year Fixed Rate Refi | 2023-05-25 | 6.37% |
| Pearsall 30 Year FHA | 2023-05-25 | 6.81% |
| Pearsall 30 Year FHA Refi | 2023-05-25 | 6.81% |
| Pearsall 30 Year USDA | 2023-05-25 | 6.43% |
| Pearsall 30 Year USDA Refi | 2023-05-25 | 6.43% |
| Pearsall 30 Year VA | 2023-05-25 | 6.51% |
| Pearsall 30 Year VA Refi | 2023-05-25 | 6.61% |
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.).
Pearsall Average Closing Costs & Other Stats
Pearsall, TX's 25 lenders originated 142
loans during 2022. The total origination value was $30,800,000, with an average loan value of
$216,901.
Pearsall's average closing costs are $6,512.
The top Pearsall lender as defined by loan originations is MUTUAL OF OMAHA MORTGAGE, INC., with
3 loans originated. Their average total fees are
$4,605, which is $7,590
lower than the next largest lender,
Gateway First Bank.
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 | 2021 Loan Value | 2022 Loan Value | % Change | 2022 Market Share |
|---|---|---|---|---|
| 21ST MORTGAGE CORPORATION | $4,725,000 | $4,425,000 | -6.3% | 14.4% |
| American State Bank | $3,250,000 | n/a | 10.6% | |
| SOUTHWEST STAGE FUNDING, LLC | $820,000 | $1,445,000 | 76.2% | 4.7% |
| THRIVE MORTGAGE, LLC | $940,000 | $1,330,000 | 41.5% | 4.3% |
| Sullivan Bank | $1,105,000 | n/a | 3.6% | |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $1,825,000 | $1,045,000 | -42.7% | 3.4% |
| TRIAD FINANCIAL SERVICES, INC. | $755,000 | $1,020,000 | 35.1% | 3.3% |
| SECURITY SERVICE | $1,740,000 | $935,000 | -46.3% | 3.0% |
| QUICKEN LOANS, LLC | $1,355,000 | $915,000 | -32.5% | 3.0% |
| Mortgage Research Center, LLC | $165,000 | $865,000 | 424.2% | 2.8% |
| CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP | $125,000 | $860,000 | 588.0% | 2.8% |
| AMCAP MORTGAGE, LTD. | $1,615,000 | $835,000 | -48.3% | 2.7% |
| Gateway First Bank | $600,000 | $690,000 | 15.0% | 2.2% |
| CERTAINTY HOME LOANS, LLC | $535,000 | $665,000 | 24.3% | 2.2% |
| UNITED WHOLESALE MORTGAGE, LLC | $290,000 | $635,000 | 119.0% | 2.1% |
| DIRECTIONS EQUITY, LLC | $450,000 | $595,000 | 32.2% | 1.9% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $485,000 | n/a | 1.6% | |
| Prosperity Bank | $485,000 | n/a | 1.6% | |
| Network Funding, L.P. | $405,000 | n/a | 1.3% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $570,000 | $395,000 | -30.7% | 1.3% |
| PLAZA HOME MORTGAGE, INC. | $385,000 | n/a | 1.3% | |
| SWBC MORTGAGE CORPORATION | $385,000 | n/a | 1.3% | |
| RANDOLPH-BROOKS | $360,000 | $375,000 | 4.2% | 1.2% |
| AMERICAN FINANCIAL RESOURCES, INC. | $355,000 | n/a | 1.2% | |
| AMERICAN HOMESTAR MORTGAGE, L.L.C. | $335,000 | n/a | 1.1% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $315,000 | n/a | 1.0% | |
| NEWREZ LLC | $250,000 | $310,000 | 24.0% | 1.0% |
| CALIBER HOME LOANS, INC. | $145,000 | $305,000 | 110.3% | 1.0% |
| NAVY FEDERAL CREDIT UNION | $305,000 | n/a | 1.0% | |
| UNITED BUILT HOMES, L.L.C. | $235,000 | $305,000 | 29.8% | 1.0% |
| North American Savings Bank, F.S.B. | $285,000 | n/a | 0.9% | |
| Bank of America | $280,000 | n/a | 0.9% | |
| Mr. Cooper ( Nationstar Mortgage ) | $95,000 | $280,000 | 194.7% | 0.9% |
| INTERLINC MORTGAGE SERVICES, LLC | $235,000 | $275,000 | 17.0% | 0.9% |
| SOUTHWEST FUNDING, LP | $265,000 | n/a | 0.9% | |
| CSL Financial, LLC | $55,000 | $225,000 | 309.1% | 0.7% |
| Colonial Savings, F.A. | $445,000 | $215,000 | -51.7% | 0.7% |
| FBC MORTGAGE, LLC | $215,000 | n/a | 0.7% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $205,000 | n/a | 0.7% | |
| Nations Lending Corporation | $195,000 | n/a | 0.6% | |
| CANOPY MORTGAGE, LLC | $185,000 | n/a | 0.6% | |
| HOMESPIRE MORTGAGE CORPORATION | $185,000 | n/a | 0.6% | |
| MOVEMENT MORTGAGE, LLC | $150,000 | $185,000 | 23.3% | 0.6% |
| HOMESIDE FINANCIAL, LLC | $175,000 | n/a | 0.6% | |
| Jefferson Bank | $175,000 | n/a | 0.6% | |
| UNION HOME MORTGAGE CORP. | $175,000 | n/a | 0.6% | |
| COUNTRYPLACE MORTGAGE, LTD. | $115,000 | $165,000 | 43.5% | 0.5% |
| Flagstar Bank, FSB | $165,000 | n/a | 0.5% | |
| LOANDEPOT.COM, LLC | $365,000 | $165,000 | -54.8% | 0.5% |
| CHURCHILL MORTGAGE CORPORATION | $225,000 | $155,000 | -31.1% | 0.5% |
| Wells Fargo Bank | $195,000 | $145,000 | -25.6% | 0.5% |
| HANCOCK MORTGAGE PARTNERS, LLC | $135,000 | n/a | 0.4% | |
| PENNYMAC LOAN SERVICES, LLC | $205,000 | $135,000 | -34.1% | 0.4% |
| FIRSTMARK | $200,000 | $120,000 | -40.0% | 0.4% |
| BROKER SOLUTIONS, INC. | $165,000 | $105,000 | -36.4% | 0.3% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $425,000 | $85,000 | -80.0% | 0.3% |
| GULF COAST | $65,000 | n/a | 0.2% | |
| JPMorgan Chase Bank | $45,000 | n/a | 0.1% | |
| International Bank of Commerce | $35,000 | n/a | 0.1% |
Pearsall's top lender by overall market share is 21ST MORTGAGE CORPORATION, with 14.4% market share. In second place, with 10.6%, is American State Bank, having originated $3,250,000 in loans. In third place, with 4.7%, is SOUTHWEST STAGE FUNDING, LLC, having originated $1,445,000 in loans. In fourth place, with 4.3%, is THRIVE MORTGAGE, LLC, having originated $1,330,000 in loans. In fifth place, with 3.6%, is Sullivan Bank, having originated $1,105,000 in loans.
Pearsall, TX Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 102 | $23,460,000 | $230,000 |
| Refi | 18 | $4,670,000 | $259,444 |
| Cash Out Refi | 15 | $2,025,000 | $135,000 |
| Other | 6 | $590,000 | $98,333 |
| Home Improvement | 1 | $55,000 | $55,000 |
Pearsall's most frequently cited loan purpose was Home Purchase, with 102 originations. The 2nd most popular reason was Refi, with 18 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 30 | $7,520,000 | $250,667 |
| 5-6% | 28 | $6,460,000 | $230,714 |
| 6-7% | 25 | $4,905,000 | $196,200 |
| Over 8% | 19 | $2,375,000 | $125,000 |
| 3-4% | 16 | $3,130,000 | $195,625 |
| 7-8% | 14 | $2,260,000 | $161,429 |
| 2.5-3% | 6 | $890,000 | $148,333 |
| <2.5% | 1 | $5,000 | $5,000 |
During 2022, Pearsall's most frequently originated rate bucket was 4-5%, with 30 originations.
Loan Sizing (Pearsall, TX MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 56 | $15,140,000 | $270,357 |
| $100k-200k | 50 | $7,860,000 | $157,200 |
| $100,000 or less | 30 | $1,910,000 | $63,667 |
| $400k-600k | 4 | $1,900,000 | $475,000 |
| $Over $1MM | 2 | $3,990,000 | $1,995,000 |
Pearsall's loan sizing saw the bucket of loans from $200k-400k with 56 originations, totaling $15,140,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 88 | $18,230,000 | $207,159 |
| 60-80% | 17 | $2,855,000 | $167,941 |
| 40-60% | 15 | $2,095,000 | $139,667 |
| Over 100% | 9 | $2,445,000 | $271,667 |
| 20-40% | 5 | $1,575,000 | $315,000 |
| Under 20% | 5 | $125,000 | $25,000 |
Pearsall's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 88 originations, totaling $18,230,000 in origination value.