Portsmouth Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Portsmouth averaged
6.55%
for the week of 2024-10-24, compared to the national average of
6.54% for the same period.
The average rate for the prior week (2024-10-17) was
6.65% and
one month ago for the week of 2024-09-19, the
average rate was 6.2%.
Portsmouth's average rate one year ago was 7.44%.
For refis of the same type during the week of 2024-10-24, the average rate
was 6.64%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-24 | 6.54% |
Portsmouth 30 Year Fixed Rate | 2024-10-24 | 6.55% |
Portsmouth 30 Year Fixed Rate Refi | 2024-10-24 | 6.64% |
Portsmouth 15 Year Fixed Rate | 2024-10-24 | 5.91% |
Portsmouth 15 Year Fixed Rate Refi | 2024-10-24 | 6.31% |
Portsmouth 30 Year FHA | 2024-10-24 | 6.38% |
Portsmouth 30 Year FHA Refi | 2024-10-24 | 6.45% |
Portsmouth 30 Year USDA | 2024-10-24 | 6.19% |
Portsmouth 30 Year USDA Refi | 2024-10-24 | 6.49% |
Portsmouth 30 Year VA | 2024-10-24 | 5.94% |
Portsmouth 30 Year VA Refi | 2024-10-24 | 6.24% |
Portsmouth 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 Portsmouth, OH 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.).
Portsmouth Average Closing Costs & Other Stats
Portsmouth, OH's 57 lenders originated 971
loans during 2023. The total origination value was $123,325,000, with an average loan value of
$127,008.
Portsmouth's average closing costs are $4,429.
The top Portsmouth lender as defined by loan originations is Fifth Third Bank, with
68 loans originated. Their average total fees are
$3,966, which is $209
higher than the next largest lender,
U.S. Bank.
The lowest fee Portsmouth lenders (with over 10 loans originated) are
Peoples Bank ($3,028), DESCO ($3,490), U.S. Bank ($3,757), Fifth Third Bank ($3,966) and WesBanco ($5,004).
The lowest rate Portsmouth lenders (with over 10 loans originated) are
WesBanco (6.60%), U.S. Bank (6.64%), Fifth Third Bank (6.71%), QUICKEN LOANS, LLC (6.77%) and Peoples Bank (6.87%).
Portsmouth, OH 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 |
---|---|---|---|---|
Fifth Third Bank | $16,495,000 | $15,005,000 | -9.0% | 12.2% |
DESCO | $18,860,000 | $11,965,000 | -36.6% | 9.7% |
U.S. Bank | $15,410,000 | $11,355,000 | -26.3% | 9.2% |
ATOMIC CREDIT UNION, INC. | $10,075,000 | $10,275,000 | 2.0% | 8.3% |
QUICKEN LOANS, LLC | $9,085,000 | $6,930,000 | -23.7% | 5.6% |
WesBanco | $7,105,000 | $5,925,000 | -16.6% | 4.8% |
Peoples Bank | $7,315,000 | $5,070,000 | -30.7% | 4.1% |
Mortgage Research Center, LLC | $3,975,000 | $3,715,000 | -6.5% | 3.0% |
Citizens Bank | $4,740,000 | $3,380,000 | -28.7% | 2.7% |
MOVEMENT MORTGAGE, LLC | $4,810,000 | $2,845,000 | -40.9% | 2.3% |
PNC Bank | $4,615,000 | $2,180,000 | -52.8% | 1.8% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $2,660,000 | $1,790,000 | -32.7% | 1.5% |
City National Bank of West Virginia | $1,580,000 | $1,710,000 | 8.2% | 1.4% |
RAPID MORTGAGE COMPANY | $260,000 | $1,550,000 | 496.2% | 1.3% |
POLARIS HOME FUNDING CORP. | $3,455,000 | $1,545,000 | -55.3% | 1.3% |
BAYSHORE MORTGAGE FUNDING, LLC | $4,175,000 | $1,535,000 | -63.2% | 1.2% |
Farm Credit Mid-America, ACA | $3,605,000 | $1,525,000 | -57.7% | 1.2% |
UNITED WHOLESALE MORTGAGE, LLC | $925,000 | $1,260,000 | 36.2% | 1.0% |
USAA Federal Savings Bank | $450,000 | $1,240,000 | 175.6% | 1.0% |
MYCUMORTGAGE, LLC | $1,945,000 | $1,155,000 | -40.6% | 0.9% |
THE VINTON COUNTY NATIONAL BANK | $440,000 | $1,130,000 | 156.8% | 0.9% |
UNION HOME MORTGAGE CORP. | $1,195,000 | $1,115,000 | -6.7% | 0.9% |
EQUITY RESOURCES, INC. | $1,375,000 | $1,110,000 | -19.3% | 0.9% |
First State Bank | $950,000 | $1,085,000 | 14.2% | 0.9% |
GUARANTEED RATE, INC. | $185,000 | $1,060,000 | 473.0% | 0.9% |
NAVY FEDERAL CREDIT UNION | $675,000 | $1,050,000 | 55.6% | 0.9% |
GREYSTONE SERVICING COMPANY LLC | $975,000 | n/a | 0.8% | |
The Ohio Valley Bank Company | $2,505,000 | $785,000 | -68.7% | 0.6% |
Discover Bank | $35,000 | $735,000 | 2,000.0% | 0.6% |
LOANDEPOT.COM, LLC | $435,000 | $675,000 | 55.2% | 0.5% |
CROSSCOUNTRY MORTGAGE, LLC | $270,000 | $640,000 | 137.0% | 0.5% |
21ST MORTGAGE CORPORATION | $315,000 | $635,000 | 101.6% | 0.5% |
MEMBERS CHOICE | $945,000 | $530,000 | -43.9% | 0.4% |
Union Savings Bank | $105,000 | $530,000 | 404.8% | 0.4% |
PENNYMAC LOAN SERVICES, LLC | $675,000 | $465,000 | -31.1% | 0.4% |
CMG MORTGAGE, INC. | $295,000 | $445,000 | 50.8% | 0.4% |
First National Bank of Pennsylvania | $435,000 | n/a | 0.4% | |
The Huntington National Bank | $1,650,000 | $430,000 | -73.9% | 0.3% |
FREEDOM MORTGAGE CORPORATION | $690,000 | $425,000 | -38.4% | 0.3% |
AHL FUNDING | $415,000 | n/a | 0.3% | |
BROKER SOLUTIONS, INC. | $570,000 | $410,000 | -28.1% | 0.3% |
Mr. Cooper ( Nationstar Mortgage ) | $520,000 | $410,000 | -21.2% | 0.3% |
First Commonwealth Bank | $395,000 | n/a | 0.3% | |
First IC Corporation | $395,000 | n/a | 0.3% | |
SOUTHWEST STAGE FUNDING, LLC | $475,000 | $385,000 | -18.9% | 0.3% |
The State Bank and Trust Company | $385,000 | n/a | 0.3% | |
NEWREZ LLC | $220,000 | $380,000 | 72.7% | 0.3% |
ROYAL UNITED MORTGAGE LLC | $85,000 | $375,000 | 341.2% | 0.3% |
Nations Lending Corporation | $260,000 | $360,000 | 38.5% | 0.3% |
GreenStone Farm Credit Services, FLCA | $355,000 | n/a | 0.3% | |
DAS Acquisition Company, LLC | $580,000 | $350,000 | -39.7% | 0.3% |
ARC HOME LLC | $325,000 | n/a | 0.3% | |
Third Federal Savings and Loan Association of Cleveland | $355,000 | $310,000 | -12.7% | 0.3% |
First Federal Community Bank of Bucyrus | $305,000 | n/a | 0.2% | |
Kingston National Bank | $305,000 | n/a | 0.2% | |
CREDIT HUMAN FEDERAL CREDIT UNION | $295,000 | n/a | 0.2% | |
Strong Home Mortgage, LLC | $295,000 | n/a | 0.2% | |
HOMESIDE FINANCIAL, LLC | $430,000 | $290,000 | -32.6% | 0.2% |
NFM, INC. | $465,000 | $285,000 | -38.7% | 0.2% |
STOCKTON MORTGAGE CORPORATION | $370,000 | $280,000 | -24.3% | 0.2% |
SUPERIOR FINANCIAL SOLUTIONS, LLC | $275,000 | n/a | 0.2% | |
Citizens Bank of Kentucky, Inc. | $265,000 | n/a | 0.2% | |
Paramount Residential Mortgage Group, Inc. | $605,000 | $260,000 | -57.0% | 0.2% |
KeyBank | $255,000 | n/a | 0.2% | |
JPMorgan Chase Bank | $1,545,000 | $250,000 | -83.8% | 0.2% |
RUOFF MORTGAGE COMPANY, INC. | $115,000 | $250,000 | 117.4% | 0.2% |
SUN WEST MORTGAGE COMPANY, INC. | $125,000 | $250,000 | 100.0% | 0.2% |
FIRST SERVICE FCU | $235,000 | n/a | 0.2% | |
LENDINGHOME FUNDING CORPORATION | $220,000 | n/a | 0.2% | |
Community Trust Bank, Inc. | $635,000 | $215,000 | -66.1% | 0.2% |
The Park National Bank | $215,000 | n/a | 0.2% | |
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $205,000 | n/a | 0.2% | |
GUILD MORTGAGE COMPANY | $390,000 | $205,000 | -47.4% | 0.2% |
Equity Prime Mortgage LLC | $115,000 | $195,000 | 69.6% | 0.2% |
NJ LENDERS CORP. | $195,000 | n/a | 0.2% | |
Bank of England | $125,000 | $170,000 | 36.0% | 0.1% |
Barrington Bank & Trust Company, N.A. | $165,000 | n/a | 0.1% | |
Victorian Finance, LLC | $85,000 | $165,000 | 94.1% | 0.1% |
Residential Mortgage Solutions, Inc. | $155,000 | n/a | 0.1% | |
AMERISAVE MORTGAGE CORPORATION | $850,000 | $150,000 | -82.4% | 0.1% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $480,000 | $150,000 | -68.8% | 0.1% |
Flagstar Bank, FSB | $1,950,000 | $150,000 | -92.3% | 0.1% |
AMERICAN FINANCIAL RESOURCES, INC. | $1,075,000 | $145,000 | -86.5% | 0.1% |
MUTUAL OF OMAHA MORTGAGE, INC. | $305,000 | $140,000 | -54.1% | 0.1% |
CONTOUR MORTGAGE CORPORATION | $135,000 | n/a | 0.1% | |
FIRST COMMUNITY MORTGAGE, INC. | $135,000 | n/a | 0.1% | |
First United Bank and Trust Company | $135,000 | n/a | 0.1% | |
Regions Bank | $135,000 | n/a | 0.1% | |
TOTAL MORTGAGE SERVICES, LLC | $135,000 | n/a | 0.1% | |
VILLAGE CAPITAL MORTGAGE | $75,000 | $135,000 | 80.0% | 0.1% |
OPEN MORTGAGE, LLC | $125,000 | n/a | 0.1% | |
United Bank | $125,000 | n/a | 0.1% | |
FIRST OHIO HOME FINANCE, INC. | $150,000 | $115,000 | -23.3% | 0.1% |
Heartland Bank | $115,000 | n/a | 0.1% | |
LIMA ONE CAPITAL, LLC | $115,000 | n/a | 0.1% | |
CALIBER HOME LOANS, INC. | $585,000 | $105,000 | -82.1% | 0.1% |
Carrington Mortgage Services, LLC | $255,000 | $105,000 | -58.8% | 0.1% |
Coastal Community Bank | $105,000 | n/a | 0.1% | |
The Ephrata National Bank | $105,000 | n/a | 0.1% | |
TOP FLITE FINANCIAL, INC. | $210,000 | $105,000 | -50.0% | 0.1% |
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $295,000 | $95,000 | -67.8% | 0.1% |
FCN Bank | $95,000 | n/a | 0.1% | |
LIBERTY HOME MORTGAGE CORPORATION | $95,000 | n/a | 0.1% | |
NEW DAY FINANCIAL, LLC | $685,000 | $95,000 | -86.1% | 0.1% |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $95,000 | n/a | 0.1% | |
Wells Fargo Bank | $65,000 | $95,000 | 46.2% | 0.1% |
Gateway First Bank | $85,000 | n/a | 0.1% | |
Kentucky Farmers Bank Corporation | $495,000 | $85,000 | -82.8% | 0.1% |
T2 FINANCIAL LLC | $75,000 | n/a | 0.1% | |
ZILLOW HOME LOANS, LLC | $75,000 | n/a | 0.1% | |
BAYER HERITAGE | $65,000 | n/a | 0.1% | |
Liberty Bank | $65,000 | n/a | 0.1% | |
First Financial Bank | $55,000 | n/a | 0.0% | |
ASHLAND Credit Union | $85,000 | $35,000 | -58.8% | 0.0% |
UNIVERSAL 1 CREDIT UNION | $55,000 | $35,000 | -36.4% | 0.0% |
Centier Bank | $25,000 | n/a | 0.0% | |
GENERAL ELECTRIC CREDIT UNION | $140,000 | $25,000 | -82.1% | 0.0% |
Portsmouth's top lender by overall market share is Fifth Third Bank, with 12.2% market share. In second place, with 9.7%, is DESCO, having originated $11,965,000 in loans. In third place, with 9.2%, is U.S. Bank, having originated $11,355,000 in loans. In fourth place, with 8.3%, is ATOMIC CREDIT UNION, INC., having originated $10,275,000 in loans. In fifth place, with 5.6%, is QUICKEN LOANS, LLC, having originated $6,930,000 in loans.
Portsmouth, OH Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 571 | $85,095,000 | $149,028 |
Cash Out Refi | 120 | $14,320,000 | $119,333 |
Home Improvement | 100 | $6,750,000 | $67,500 |
Other | 100 | $7,730,000 | $77,300 |
Refi | 80 | $9,430,000 | $117,875 |
Portsmouth's most frequently cited loan purpose was Home Purchase, with 571 originations. The 2nd most popular reason was Cash Out Refi, with 120 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 330 | $48,120,000 | $145,818 |
7-8% | 221 | $27,645,000 | $125,090 |
Over 8% | 199 | $14,835,000 | $74,548 |
5-6% | 89 | $15,845,000 | $178,034 |
<2.5% | 27 | $2,255,000 | $83,519 |
3-4% | 7 | $865,000 | $123,571 |
4-5% | 6 | $640,000 | $106,667 |
2.5-3% | 4 | $210,000 | $52,500 |
During 2023, Portsmouth's most frequently originated rate bucket was 6-7%, with 330 originations.
Loan Sizing (Portsmouth, OH MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 461 | $27,205,000 | $59,013 |
$100k-200k | 361 | $50,865,000 | $140,900 |
$200k-400k | 128 | $34,330,000 | $268,203 |
$400k-600k | 17 | $7,685,000 | $452,059 |
$600k-1000k | 4 | $3,240,000 | $810,000 |
Portsmouth's loan sizing saw the bucket of loans from $100,000 or less with 461 originations, totaling $27,205,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 414 | $61,550,000 | $148,671 |
60-80% | 186 | $26,730,000 | $143,710 |
20-40% | 112 | $7,360,000 | $65,714 |
40-60% | 91 | $10,855,000 | $119,286 |
Under 20% | 73 | $2,345,000 | $32,123 |
Over 100% | 8 | $2,460,000 | $307,500 |
Portsmouth's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 414 originations, totaling $61,550,000 in origination value.