Peru Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Peru averaged 7.07% 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 7.21% and one month ago for the week of 2023-08-10, the average rate was 6.75%.

    Peru's average rate one year ago was 5.68%.

    For refis of the same type during the week of 2023-09-14, the average rate was 7.38%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-09-14 7.18%
    Peru 30 Year Fixed Rate 2023-09-14 7.07%
    Peru 30 Year Fixed Rate Refi 2023-09-14 7.38%
    Peru 15 Year Fixed Rate 2023-09-14 6.41%
    Peru 15 Year Fixed Rate Refi 2023-09-14 6.71%
    Peru 30 Year FHA 2023-09-14 7.03%
    Peru 30 Year FHA Refi 2023-09-14 6.79%
    Peru 30 Year USDA 2023-09-14 6.78%
    Peru 30 Year USDA Refi 2023-09-14 7.18%
    Peru 30 Year VA 2023-09-14 6.71%
    Peru 30 Year VA Refi 2023-09-14 6.71%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Peru, IN.

    Peru 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 Peru, IN 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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    RUOFF MORTGAGE COMPANY, INC. 32 5.25% $2,217
    First Farmers Bank and Trust Company 27 5.00% $1,979
    Crossroads Bank 15 5.30% $1,558
    QUICKEN LOANS, LLC 12 5.52% $4,625
    BEACON CREDIT UNION 11 5.11% $2,075
    STOCKTON MORTGAGE CORPORATION 8 4.83% $3,935
    Solidarity Community Federal Credit Union 6 4.90% $2,522
    LEADERONE FINANCIAL CORPORATION 5 5.35% $3,596
    First Federal Savings Bank 4 4.97% $2,608
    First Bank of Berne 4 4.72% $2,025
    Regions Bank 4 5.91% $3,230
    ROYAL UNITED MORTGAGE LLC 4 5.00% $5,605
    Security Federal Savings Bank 4 4.97% $2,061
    Flagstar Bank, FSB 4 5.24% $2,607
    The Huntington National Bank 4 5.56% $3,222
    Hometown Lenders, Inc. 4 5.91% $4,085
    UNITED WHOLESALE MORTGAGE, LLC 4 4.81% $3,388
    AMERIFIRST FINANCIAL CORPORATION 3 5.71% $3,663
    PNC Bank 3 6.00% $2,378
    GVC MORTGAGE, INC. 3 4.79% $3,630
    PLAZA HOME MORTGAGE, INC. 3 4.25% $3,159
    Lake City Bank 3 4.25% $1,855
    LOANDEPOT.COM, LLC 3 5.16% $3,895
    Community First Bank of Indiana 2 3.63% $2,234
    PENNYMAC LOAN SERVICES, LLC 2 5.88% $2,562
    First Merchants Bank 2 3.38% $2,374
    TEACHERS CREDIT UNION 2 6.75% $1,967
    JPMorgan Chase Bank 2 4.56% $5,683
    Farm Credit Mid-America, ACA 2 6.03% $5,080
    Mr. Cooper ( Nationstar Mortgage ) 2 5.68% $4,780
    Wells Fargo Bank 1 4.63% $2,521
    AMERICAN FINANCING CORPORATION 1 6.00% $4,515
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.63% $3,685
    Bank of America 1 5.25% $3,186
    CALIBER HOME LOANS, INC. 1 6.63% $3,098
    CARDINAL FINANCIAL 1 5.99% $7,525
    CROSSCOUNTRY MORTGAGE, LLC 1 3.38% $2,890
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 4.63% $2,908
    Fifth Third Bank 1 6.88% $2,697
    First Federal Savings Bank 1 5.63% $4,907
    HALLMARK HOME MORTGAGE, LLC 1 6.00% $2,477
    KeyBank 1 4.88% $5,328
    LAKEVIEW LOAN SERVICING, LLC 1 4.38% $5,084
    Merchants Bank of Indiana 1 3.38% $1,412
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.38% $2,757
    Nations Lending Corporation 1 5.99% $4,509
    NFM, INC. 1 5.50% $3,090
    Northwest Bank 1 6.88% $3,857
    RESIDENTIAL BANCORP 1 6.00% $4,023
    STAR Financial Bank 1 6.25% $1,537
    The Farmers & Merchants State Bank 1 4.59% $4,467
    The Federal Savings Bank 1 4.50% $11,208
    Three Rivers Federal Credit Union 1 4.25% $2,214
    UNION HOME MORTGAGE CORP. 1 3.38% $2,758
    1st Source Bank 1 6.50% $4,487

    Peru Average Closing Costs & Other Stats

    Peru, IN's 55 lenders originated 740 loans during 2022. The total origination value was $98,740,000, with an average loan value of $133,432.

    Peru's average closing costs are $3,349.

    The top Peru lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 32 loans originated. Their average total fees are $2,217, which is $238 higher than the next largest lender, First Farmers Bank and Trust Company.

    The lowest fee Peru lenders (with over 10 loans originated) are Crossroads Bank ($1,558), First Farmers Bank and Trust Company ($1,979), BEACON CREDIT UNION ($2,075), RUOFF MORTGAGE COMPANY, INC. ($2,217) and QUICKEN LOANS, LLC ($4,625).

    The lowest rate Peru lenders (with over 10 loans originated) are First Farmers Bank and Trust Company (5.00%), BEACON CREDIT UNION (5.11%), RUOFF MORTGAGE COMPANY, INC. (5.25%), Crossroads Bank (5.30%) and QUICKEN LOANS, LLC (5.52%).

    Peru, IN 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
    Centier Bank $250,000 $16,840,000 6,636.0% 17.1%
    RUOFF MORTGAGE COMPANY, INC. $11,840,000 $8,920,000 -24.7% 9.0%
    First Farmers Bank and Trust Company $17,375,000 $8,290,000 -52.3% 8.4%
    QUICKEN LOANS, LLC $7,510,000 $5,125,000 -31.8% 5.2%
    BEACON CREDIT UNION $7,480,000 $4,260,000 -43.0% 4.3%
    Crossroads Bank $5,200,000 $3,470,000 -33.3% 3.5%
    PNC Bank $3,245,000 $3,190,000 -1.7% 3.2%
    PLAZA HOME MORTGAGE, INC. $5,275,000 $2,785,000 -47.2% 2.8%
    STOCKTON MORTGAGE CORPORATION $1,120,000 $2,740,000 144.6% 2.8%
    GVC MORTGAGE, INC. $1,170,000 $2,600,000 122.2% 2.6%
    Mortgage Research Center, LLC $2,065,000 $2,560,000 24.0% 2.6%
    Flagstar Bank, FSB $950,000 $1,955,000 105.8% 2.0%
    Solidarity Community Federal Credit Union $2,455,000 $1,830,000 -25.5% 1.9%
    UNITED WHOLESALE MORTGAGE, LLC $1,625,000 $1,265,000 -22.2% 1.3%
    Security Federal Savings Bank $925,000 $1,245,000 34.6% 1.3%
    First Financial Bank $150,000 $1,205,000 703.3% 1.2%
    LEADERONE FINANCIAL CORPORATION $2,035,000 $1,200,000 -41.0% 1.2%
    Lake City Bank $1,125,000 $1,065,000 -5.3% 1.1%
    First Federal Savings Bank $1,250,000 $995,000 -20.4% 1.0%
    JPMorgan Chase Bank $1,095,000 $955,000 -12.8% 1.0%
    LOANDEPOT.COM, LLC $1,225,000 $925,000 -24.5% 0.9%
    Hometown Lenders, Inc. $980,000 $895,000 -8.7% 0.9%
    First Merchants Bank $1,325,000 $865,000 -34.7% 0.9%
    USAA Federal Savings Bank $395,000 $830,000 110.1% 0.8%
    AMERIFIRST FINANCIAL CORPORATION $620,000 $805,000 29.8% 0.8%
    Providence Bank & Trust $785,000 n/a 0.8%
    The Huntington National Bank $785,000 $760,000 -3.2% 0.8%
    MOVEMENT MORTGAGE, LLC $165,000 $755,000 357.6% 0.8%
    PENNYMAC LOAN SERVICES, LLC $880,000 $755,000 -14.2% 0.8%
    Mr. Cooper ( Nationstar Mortgage ) $680,000 $705,000 3.7% 0.7%
    CALIBER HOME LOANS, INC. $1,165,000 $695,000 -40.3% 0.7%
    NEW DAY FINANCIAL, LLC $1,255,000 $670,000 -46.6% 0.7%
    Farm Credit Mid-America, ACA $1,025,000 $640,000 -37.6% 0.6%
    The Federal Savings Bank $320,000 $600,000 87.5% 0.6%
    HALLMARK HOME MORTGAGE, LLC $105,000 $590,000 461.9% 0.6%
    Regions Bank $900,000 $560,000 -37.8% 0.6%
    Community First Bank of Indiana $1,260,000 $550,000 -56.3% 0.6%
    Carrington Mortgage Services, LLC $1,275,000 $535,000 -58.0% 0.5%
    UNION HOME MORTGAGE CORP. $140,000 $505,000 260.7% 0.5%
    BROKER SOLUTIONS, INC. $615,000 $465,000 -24.4% 0.5%
    First Bank of Berne $1,025,000 $455,000 -55.6% 0.5%
    The Bank of New Glarus $455,000 n/a 0.5%
    FREEDOM MORTGAGE CORPORATION $2,915,000 $435,000 -85.1% 0.4%
    TRIAD FINANCIAL SERVICES, INC. $25,000 $420,000 1,580.0% 0.4%
    NFM, INC. $405,000 n/a 0.4%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $630,000 $400,000 -36.5% 0.4%
    First Federal Bank of the Midwest $380,000 n/a 0.4%
    Nations Lending Corporation $270,000 $380,000 40.7% 0.4%
    CROSSCOUNTRY MORTGAGE, LLC $535,000 $370,000 -30.8% 0.4%
    ROYAL UNITED MORTGAGE LLC $525,000 $310,000 -41.0% 0.3%
    FINANCIAL BUILDERS Federal Credit Union $445,000 $295,000 -33.7% 0.3%
    First Federal Savings Bank $1,250,000 $275,000 -78.0% 0.3%
    Barrington Bank & Trust Company, N.A. $350,000 $250,000 -28.6% 0.3%
    PLANET HOME LENDING, LLC $85,000 $250,000 194.1% 0.3%
    VANDERBILT MORTGAGE AND FINANCE, INC. $250,000 $250,000 0.0% 0.3%
    FLAT BRANCH MORTGAGE, INC. $275,000 $235,000 -14.5% 0.2%
    STAR Financial Bank $45,000 $230,000 411.1% 0.2%
    Wells Fargo Bank $1,155,000 $230,000 -80.1% 0.2%
    Bank of America $215,000 n/a 0.2%
    CHURCHILL MORTGAGE CORPORATION $55,000 $215,000 290.9% 0.2%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $215,000 n/a 0.2%
    INTERRA CREDIT UNION $205,000 n/a 0.2%
    AMERISAVE MORTGAGE CORPORATION $440,000 $200,000 -54.5% 0.2%
    1ST SIGNATURE LENDING, LLC $415,000 $195,000 -53.0% 0.2%
    LIBERTY HOME MORTGAGE CORPORATION $195,000 n/a 0.2%
    The Farmers & Merchants State Bank $175,000 $195,000 11.4% 0.2%
    ZILLOW HOME LOANS, LLC $225,000 $195,000 -13.3% 0.2%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $185,000 n/a 0.2%
    21ST MORTGAGE CORPORATION $280,000 $175,000 -37.5% 0.2%
    MID AMERICA MORTGAGE, INC. $715,000 $175,000 -75.5% 0.2%
    Union Savings Bank $175,000 n/a 0.2%
    LAKEVIEW LOAN SERVICING, LLC $220,000 $160,000 -27.3% 0.2%
    NEWREZ LLC $675,000 $155,000 -77.0% 0.2%
    PANORAMA MORTGAGE GROUP, LLC $135,000 $155,000 14.8% 0.2%
    VILLAGE CAPITAL MORTGAGE $85,000 $150,000 76.5% 0.2%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $145,000 n/a 0.1%
    Low VA Rates, LLC $145,000 n/a 0.1%
    TEACHERS CREDIT UNION $60,000 $135,000 125.0% 0.1%
    U.S. Bank $210,000 $130,000 -38.1% 0.1%
    BMO Harris Bank $45,000 $125,000 177.8% 0.1%
    AMERICAN MORTGAGE SERVICE COMPANY $515,000 $115,000 -77.7% 0.1%
    Fifth Third Bank $45,000 $115,000 155.6% 0.1%
    Merchants Bank of Indiana $115,000 n/a 0.1%
    CIVIC FINANCIAL SERVICES, LLC $105,000 n/a 0.1%
    CMG MORTGAGE, INC. $105,000 n/a 0.1%
    MUTUAL OF OMAHA MORTGAGE, INC. $105,000 n/a 0.1%
    Northwest Bank $265,000 $105,000 -60.4% 0.1%
    KeyBank $320,000 $100,000 -68.8% 0.1%
    PHH Mortgage Corporation $105,000 $95,000 -9.5% 0.1%
    RELIANCE FIRST CAPITAL, LLC $240,000 $95,000 -60.4% 0.1%
    Three Rivers Federal Credit Union $220,000 $85,000 -61.4% 0.1%
    1st Source Bank $130,000 $75,000 -42.3% 0.1%
    AMERICAN FINANCING CORPORATION $425,000 $75,000 -82.4% 0.1%
    RESIDENTIAL BANCORP. $75,000 n/a 0.1%
    SPRING EQ, LLC $75,000 n/a 0.1%
    Figure Lending LLC $50,000 $65,000 30.0% 0.1%
    FINANCIAL CENTER FIRST CREDIT UNION $45,000 $65,000 44.4% 0.1%
    GENEVA FINANCIAL, LLC $65,000 n/a 0.1%
    LIMA ONE CAPITAL, LLC $65,000 n/a 0.1%
    NAVY FEDERAL CREDIT UNION $195,000 $65,000 -66.7% 0.1%
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $185,000 $55,000 -70.3% 0.1%
    Gateway First Bank $55,000 n/a 0.1%
    GREENSTATE CREDIT UNION $45,000 n/a 0.0%
    Horizon Bank $920,000 $35,000 -96.2% 0.0%
    MEMBER FIRST MORTGAGE, LLC $160,000 $35,000 -78.1% 0.0%
    MIDWEST AMERICA $35,000 n/a 0.0%
    Servion, Inc. $85,000 $35,000 -58.8% 0.0%
    UTILITIES EMPLOYEES CREDIT UNION $25,000 n/a 0.0%

    Peru's top lender by overall market share is Centier Bank, with 17.1% market share. In second place, with 9.0%, is RUOFF MORTGAGE COMPANY, INC., having originated $8,920,000 in loans. In third place, with 8.4%, is First Farmers Bank and Trust Company, having originated $8,290,000 in loans. In fourth place, with 5.2%, is QUICKEN LOANS, LLC, having originated $5,125,000 in loans. In fifth place, with 4.3%, is BEACON CREDIT UNION, having originated $4,260,000 in loans.

    Peru, IN Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 341 $64,375,000 $188,783
    Cash Out Refi 184 $18,720,000 $101,739
    Refi 81 $9,045,000 $111,667
    Other 72 $3,740,000 $51,944
    Home Improvement 62 $2,860,000 $46,129

    Peru's most frequently cited loan purpose was Home Purchase, with 341 originations. The 2nd most popular reason was Cash Out Refi, with 184 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 192 $24,480,000 $127,500
    4-5% 153 $18,445,000 $120,556
    3-4% 143 $18,205,000 $127,308
    6-7% 109 $28,075,000 $257,569
    7-8% 70 $4,530,000 $64,714
    Over 8% 24 $910,000 $37,917
    2.5-3% 20 $2,270,000 $113,500
    <2.5% 10 $670,000 $67,000

    During 2022, Peru's most frequently originated rate bucket was 5-6%, with 192 originations.

    Loan Sizing (Peru, IN MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 409 $23,345,000 $57,078
    $100k-200k 244 $33,680,000 $138,033
    $200k-400k 77 $19,985,000 $259,545
    $400k-600k 7 $2,985,000 $426,429
    $Over $1MM 2 $17,960,000 $8,980,000
    $600k-1000k 1 $785,000 $785,000

    Peru's loan sizing saw the bucket of loans from $100,000 or less with 409 originations, totaling $23,345,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 290 $41,190,000 $142,034
    60-80% 159 $37,535,000 $236,069
    20-40% 102 $6,090,000 $59,706
    40-60% 75 $8,225,000 $109,667
    Under 20% 71 $2,225,000 $31,338
    Over 100% 6 $1,270,000 $211,667

    Peru's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 290 originations, totaling $41,190,000 in origination value.