Peru Mortgage Rates & Closing Costs

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.