Peru Mortgage Rates & Closing Costs
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% |
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.).
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.