Richmond - Berea Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Richmond - Berea averaged
6.63%
for the week of 2024-07-18, compared to the national average of
6.77% for the same period.
The average rate for the prior week (2024-07-11) was
6.95% and
one month ago for the week of 2024-06-13, the
average rate was 7.01%.
Richmond - Berea's average rate one year ago was 6.82%.
For refis of the same type during the week of 2024-07-18, the average rate
was 7.07%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-07-18 | 6.77% |
| Richmond - Berea 30 Year Fixed Rate | 2024-07-18 | 6.63% |
| Richmond - Berea 30 Year Fixed Rate Refi | 2024-07-18 | 7.07% |
| Richmond - Berea 15 Year Fixed Rate | 2024-07-18 | 6.05% |
| Richmond - Berea 15 Year Fixed Rate Refi | 2024-07-18 | 6.25% |
| Richmond - Berea 30 Year FHA | 2024-07-18 | 6.47% |
| Richmond - Berea 30 Year FHA Refi | 2024-07-18 | 6.49% |
| Richmond - Berea 30 Year USDA | 2024-07-18 | 6.83% |
| Richmond - Berea 30 Year USDA Refi | 2024-07-18 | 6.43% |
| Richmond - Berea 30 Year VA | 2024-07-18 | 6.5% |
| Richmond - Berea 30 Year VA Refi | 2024-07-18 | 6.5% |
Richmond - Berea 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 Richmond-Berea, KY 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.).
Richmond - Berea Average Closing Costs & Other Stats
Richmond-Berea, KY's 93 lenders originated 2,082
loans during 2023. The total origination value was $423,110,000, with an average loan value of
$203,223.
Richmond - Berea's average closing costs are $4,376.
The top Richmond - Berea lender as defined by loan originations is GENEVA FINANCIAL, LLC, with
62 loans originated. Their average total fees are
$4,974, which is $1,037
higher than the next largest lender,
ARK-LA-TEX FINANCIAL SERVICES, LLC..
The lowest fee Richmond - Berea lenders (with over 10 loans originated) are
Guardian Savings Bank, A Federal Savings Bank ($1,381), Community Trust Bank, Inc. ($2,189), Whitaker Bank ($2,531), PARK COMMUNITY CREDIT UNION, INC. ($2,700) and Central Bank ($2,703).
The lowest rate Richmond - Berea lenders (with over 10 loans originated) are
Whitaker Bank (5.86%), PARK COMMUNITY CREDIT UNION, INC. (6.08%), Community Trust Bank, Inc. (6.25%), Guardian Savings Bank, A Federal Savings Bank (6.26%) and Traditional Bank, Inc. (6.44%).
Richmond-Berea, KY 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 |
|---|---|---|---|---|
| Whitaker Bank | $37,845,000 | $40,080,000 | 5.9% | 9.5% |
| GENEVA FINANCIAL, LLC | $24,745,000 | $34,670,000 | 40.1% | 8.2% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $32,250,000 | $20,065,000 | -37.8% | 4.7% |
| QUICKEN LOANS, LLC | $26,675,000 | $19,810,000 | -25.7% | 4.7% |
| Community Trust Bank, Inc. | $24,445,000 | $14,810,000 | -39.4% | 3.5% |
| Stock Yards Bank & Trust Company | $22,775,000 | $14,470,000 | -36.5% | 3.4% |
| Central Bank | $23,250,000 | $13,785,000 | -40.7% | 3.3% |
| UNITED WHOLESALE MORTGAGE, LLC | $8,525,000 | $13,310,000 | 56.1% | 3.1% |
| STOCKTON MORTGAGE CORPORATION | $19,215,000 | $12,570,000 | -34.6% | 3.0% |
| U.S. Bank | $19,135,000 | $12,090,000 | -36.8% | 2.9% |
| UNIVERSITY OF KENTUCKY | $13,710,000 | $12,040,000 | -12.2% | 2.8% |
| Mortgage Research Center, LLC | $15,905,000 | $10,930,000 | -31.3% | 2.6% |
| Traditional Bank, Inc. | $12,480,000 | $9,585,000 | -23.2% | 2.3% |
| Guardian Savings Bank, A Federal Savings Bank | $10,240,000 | $9,050,000 | -11.6% | 2.1% |
| HOMESIDE FINANCIAL, LLC | $5,630,000 | $7,565,000 | 34.4% | 1.8% |
| PARK COMMUNITY CREDIT UNION, INC. | $11,165,000 | $7,325,000 | -34.4% | 1.7% |
| Northpointe Bank | $3,435,000 | $5,825,000 | 69.6% | 1.4% |
| COMMONWEALTH | $3,395,000 | $5,755,000 | 69.5% | 1.4% |
| PNC Bank | $7,640,000 | $5,300,000 | -30.6% | 1.3% |
| Republic Bank & Trust Company | $2,260,000 | $5,240,000 | 131.9% | 1.2% |
| Forcht Bank | $15,770,000 | $5,170,000 | -67.2% | 1.2% |
| Cumberland Valley National Bank & Trust Company | $12,715,000 | $5,135,000 | -59.6% | 1.2% |
| JPMorgan Chase Bank | $9,340,000 | $4,975,000 | -46.7% | 1.2% |
| First Southern National Bank | $8,460,000 | $4,895,000 | -42.1% | 1.2% |
| The Monticello Banking Company | $19,095,000 | $4,530,000 | -76.3% | 1.1% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $3,165,000 | $4,075,000 | 28.8% | 1.0% |
| RUOFF MORTGAGE COMPANY, INC. | $400,000 | $3,810,000 | 852.5% | 0.9% |
| Bank of England | $7,020,000 | $3,720,000 | -47.0% | 0.9% |
| NAVY FEDERAL CREDIT UNION | $4,435,000 | $3,665,000 | -17.4% | 0.9% |
| Citizens Bank of Kentucky, Inc. | $1,180,000 | $3,310,000 | 180.5% | 0.8% |
| DAS Acquisition Company, LLC | $4,845,000 | $3,245,000 | -33.0% | 0.8% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $7,275,000 | $3,210,000 | -55.9% | 0.8% |
| Truist | $3,425,000 | $3,200,000 | -6.6% | 0.8% |
| UNION HOME MORTGAGE CORP. | $535,000 | $2,905,000 | 443.0% | 0.7% |
| Fifth Third Bank | $18,170,000 | $2,880,000 | -84.1% | 0.7% |
| Republic State Mortgage Co. | $4,625,000 | $2,880,000 | -37.7% | 0.7% |
| Peoples Exchange Bank | $4,415,000 | $2,720,000 | -38.4% | 0.6% |
| PENNYMAC LOAN SERVICES, LLC | $2,100,000 | $2,410,000 | 14.8% | 0.6% |
| FREEDOM MORTGAGE CORPORATION | $5,975,000 | $2,010,000 | -66.4% | 0.5% |
| USAA Federal Savings Bank | $3,160,000 | $1,950,000 | -38.3% | 0.5% |
| AMERISAVE MORTGAGE CORPORATION | $2,805,000 | $1,925,000 | -31.4% | 0.5% |
| The Huntington National Bank | $2,625,000 | $1,815,000 | -30.9% | 0.4% |
| SOUTH CENTRAL BANK, INC. | $785,000 | $1,795,000 | 128.7% | 0.4% |
| BROKER SOLUTIONS, INC. | $2,925,000 | $1,780,000 | -39.1% | 0.4% |
| NEW DAY FINANCIAL, LLC | $1,725,000 | $1,705,000 | -1.2% | 0.4% |
| GoPrime Mortgage, Inc. | $3,375,000 | $1,695,000 | -49.8% | 0.4% |
| Century Mortgage Company DBA Century Lending Company | $2,990,000 | $1,650,000 | -44.8% | 0.4% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $1,775,000 | $1,630,000 | -8.2% | 0.4% |
| The Farmers Bank | $1,795,000 | $1,535,000 | -14.5% | 0.4% |
| GUARANTEED RATE, INC. | $4,055,000 | $1,515,000 | -62.6% | 0.4% |
| NBKC BANK | $550,000 | $1,505,000 | 173.6% | 0.4% |
| Citizens Bank | $2,530,000 | $1,445,000 | -42.9% | 0.3% |
| NEWREZ LLC | $1,360,000 | $1,445,000 | 6.3% | 0.3% |
| THRIVE MORTGAGE, LLC | $405,000 | $1,400,000 | 245.7% | 0.3% |
| German American Bank | $11,255,000 | $1,360,000 | -87.9% | 0.3% |
| Flagstar Bank, FSB | $1,100,000 | $1,300,000 | 18.2% | 0.3% |
| Renasant Bank | $3,200,000 | $1,300,000 | -59.4% | 0.3% |
| Old National Bank | $455,000 | $1,200,000 | 163.7% | 0.3% |
| EVANSVILLE TEACHERS | $160,000 | $1,180,000 | 637.5% | 0.3% |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $275,000 | $1,110,000 | 303.6% | 0.3% |
| City National Bank of West Virginia | $945,000 | $1,080,000 | 14.3% | 0.3% |
| LOANDEPOT.COM, LLC | $9,520,000 | $1,060,000 | -88.9% | 0.3% |
| Magnolia Bank | $335,000 | $1,035,000 | 209.0% | 0.2% |
| FirstBank | $460,000 | $1,025,000 | 122.8% | 0.2% |
| Discover Bank | $345,000 | $970,000 | 181.2% | 0.2% |
| 21ST MORTGAGE CORPORATION | $825,000 | $950,000 | 15.2% | 0.2% |
| ZILLOW HOME LOANS, LLC | $840,000 | $900,000 | 7.1% | 0.2% |
| Prosperity Home Mortgage, LLC | $4,010,000 | $880,000 | -78.1% | 0.2% |
| Regions Bank | $435,000 | $865,000 | 98.9% | 0.2% |
| First National Bank of America | $835,000 | n/a | 0.2% | |
| Wells Fargo Bank | $2,765,000 | $820,000 | -70.3% | 0.2% |
| MEMBERS HERITAGE Credit Union | $885,000 | $800,000 | -9.6% | 0.2% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $275,000 | $795,000 | 189.1% | 0.2% |
| First Financial Bank | $950,000 | $775,000 | -18.4% | 0.2% |
| ALLIED MORTGAGE GROUP, INC. | $760,000 | n/a | 0.2% | |
| Farm Credit Mid-America, ACA | $4,555,000 | $750,000 | -83.5% | 0.2% |
| WesBanco | $1,770,000 | $750,000 | -57.6% | 0.2% |
| Plains Commerce Bank | $355,000 | $720,000 | 102.8% | 0.2% |
| United Cumberland Bank | $690,000 | n/a | 0.2% | |
| FINANCE OF AMERICA REVERSE LLC | $680,000 | n/a | 0.2% | |
| GENERAL ELECTRIC CREDIT UNION | $670,000 | n/a | 0.2% | |
| The Federal Savings Bank | $1,935,000 | $650,000 | -66.4% | 0.2% |
| PENTAGON FEDERAL CREDIT UNION | $350,000 | $625,000 | 78.6% | 0.1% |
| FBC MORTGAGE, LLC | $2,575,000 | $620,000 | -75.9% | 0.1% |
| POLARIS HOME FUNDING CORP. | $75,000 | $620,000 | 726.7% | 0.1% |
| CARDINAL FINANCIAL | $1,705,000 | $610,000 | -64.2% | 0.1% |
| ROYAL UNITED MORTGAGE LLC | $295,000 | $600,000 | 103.4% | 0.1% |
| Citizens Bank | $2,530,000 | $590,000 | -76.7% | 0.1% |
| Mr. Cooper ( Nationstar Mortgage ) | $3,290,000 | $590,000 | -82.1% | 0.1% |
| GSF Mortgage Corporation | $285,000 | $570,000 | 100.0% | 0.1% |
| Western Ohio Mortgage Corporation | $565,000 | n/a | 0.1% | |
| ENDEAVOR CAPITAL, LLC. | $555,000 | n/a | 0.1% | |
| Paramount Residential Mortgage Group, Inc. | $535,000 | n/a | 0.1% | |
| AMERICAN FINANCIAL NETWORK, INC. | $530,000 | n/a | 0.1% | |
| L & N Federal Credit Union | $1,050,000 | $530,000 | -49.5% | 0.1% |
| MID AMERICA MORTGAGE, INC. | $1,510,000 | $530,000 | -64.9% | 0.1% |
| AMERICAN INTERNET MORTGAGE, INC. | $730,000 | $520,000 | -28.8% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $370,000 | $520,000 | 40.5% | 0.1% |
| MOVEMENT MORTGAGE, LLC | $1,470,000 | $510,000 | -65.3% | 0.1% |
| M&T Bank | $395,000 | $495,000 | 25.3% | 0.1% |
| EMM LOANS LLC | $490,000 | n/a | 0.1% | |
| Bank of America | $3,735,000 | $475,000 | -87.3% | 0.1% |
| Bank of Lexington, Inc. | $475,000 | n/a | 0.1% | |
| COMPASS MORTGAGE, INC. | $445,000 | n/a | 0.1% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $650,000 | $425,000 | -34.6% | 0.1% |
| MORTGAGE INVESTORS GROUP, INC. | $420,000 | n/a | 0.1% | |
| Barrington Bank & Trust Company, N.A. | $405,000 | $415,000 | 2.5% | 0.1% |
| Ally Bank | $715,000 | $410,000 | -42.7% | 0.1% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $1,115,000 | $400,000 | -64.1% | 0.1% |
| The Loan Store, Inc. | $390,000 | n/a | 0.1% | |
| FIRST STATE MORTGAGE SERVICES, LLC | $375,000 | n/a | 0.1% | |
| Central Kentucky Agricultural Credit Association | $540,000 | $365,000 | -32.4% | 0.1% |
| TOP FLITE FINANCIAL, INC. | $245,000 | $360,000 | 46.9% | 0.1% |
| RBC Bank, (Georgia) | $355,000 | n/a | 0.1% | |
| RELIANCE FIRST CAPITAL, LLC | $485,000 | $350,000 | -27.8% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $2,665,000 | $345,000 | -87.1% | 0.1% |
| First Federal Bank of the Midwest | $340,000 | n/a | 0.1% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $205,000 | $340,000 | 65.9% | 0.1% |
| PREMIA MORTGAGE, LLC | $335,000 | n/a | 0.1% | |
| First State Bank of the Southeast, Inc. | $1,845,000 | $330,000 | -82.1% | 0.1% |
| LENDINGHOME FUNDING CORPORATION | $330,000 | n/a | 0.1% | |
| GUARANTEED RATE AFFINITY, LLC | $500,000 | $315,000 | -37.0% | 0.1% |
| Carrington Mortgage Services, LLC | $1,660,000 | $310,000 | -81.3% | 0.1% |
| The First National Bank of Granbury | $295,000 | n/a | 0.1% | |
| AgFirst Farm Credit Bank | $195,000 | $285,000 | 46.2% | 0.1% |
| North American Savings Bank, F.S.B. | $85,000 | $285,000 | 235.3% | 0.1% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $275,000 | n/a | 0.1% | |
| EVERETT FINANCIAL, INC. | $2,515,000 | $270,000 | -89.3% | 0.1% |
| CROSSCOUNTRY MORTGAGE, LLC | $1,850,000 | $255,000 | -86.2% | 0.1% |
| SUCCESS MORTGAGE PARTNERS, INC. | $315,000 | $255,000 | -19.0% | 0.1% |
| GUARANTY HOME MORTGAGE CORPORATION | $1,605,000 | $245,000 | -84.7% | 0.1% |
| INTERCOASTAL MORTGAGE COMPANY | $245,000 | n/a | 0.1% | |
| Abound Federal Credit Union | $240,000 | n/a | 0.1% | |
| BNC National Bank | $235,000 | n/a | 0.1% | |
| FIELD & MAIN BANK, INC. | $235,000 | n/a | 0.1% | |
| Heritage Bank, Inc. | $235,000 | n/a | 0.1% | |
| Leaders Credit Union | $235,000 | n/a | 0.1% | |
| PLANET HOME LENDING, LLC | $230,000 | n/a | 0.1% | |
| A&D Mortgage LLC | $225,000 | n/a | 0.1% | |
| Independence Bank of Kentucky | $675,000 | $225,000 | -66.7% | 0.1% |
| AMERICAN FINANCIAL RESOURCES, INC. | $290,000 | $215,000 | -25.9% | 0.1% |
| NFM, INC. | $215,000 | n/a | 0.1% | |
| First Western Federal Savings Bank | $210,000 | n/a | 0.0% | |
| CITY FIRST MORTGAGE SERVICES, L.L.C. | $205,000 | n/a | 0.0% | |
| INTERLINC MORTGAGE SERVICES, LLC | $285,000 | $205,000 | -28.1% | 0.0% |
| S1L, Inc. | $205,000 | n/a | 0.0% | |
| EMBRACE HOME LOANS, INC. | $245,000 | $195,000 | -20.4% | 0.0% |
| Old Missouri Bank | $195,000 | n/a | 0.0% | |
| THRIVENT Federal Credit Union | $195,000 | n/a | 0.0% | |
| MORTGAGE ACCESS CORP. | $380,000 | $185,000 | -51.3% | 0.0% |
| Centra Credit Union | $175,000 | n/a | 0.0% | |
| Equity Prime Mortgage LLC | $505,000 | $175,000 | -65.3% | 0.0% |
| Nations Lending Corporation | $520,000 | $175,000 | -66.3% | 0.0% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $170,000 | n/a | 0.0% | |
| LAKEVIEW LOAN SERVICING, LLC | $2,355,000 | $165,000 | -93.0% | 0.0% |
| USAlliance Federal Credit Union | $165,000 | n/a | 0.0% | |
| NATIONWIDE MORTGAGE BANKERS, INC. | $155,000 | n/a | 0.0% | |
| BAY EQUITY LLC | $615,000 | $115,000 | -81.3% | 0.0% |
| SPRING EQ, LLC | $205,000 | $100,000 | -51.2% | 0.0% |
| Park Lane Finance Solutions, LLC | $115,000 | $95,000 | -17.4% | 0.0% |
| Bank of the Bluegrass & Trust Co. | $85,000 | n/a | 0.0% | |
| Summit Community Bank, Inc. | $1,055,000 | $75,000 | -92.9% | 0.0% |
| Coastal Community Bank | $70,000 | n/a | 0.0% | |
| Peoples Bank | $180,000 | $65,000 | -63.9% | 0.0% |
| PHH Mortgage Corporation | $125,000 | $65,000 | -48.0% | 0.0% |
| UNIFY FINANCIAL Credit Union | $845,000 | $65,000 | -92.3% | 0.0% |
| FIRST COMMUNITY MORTGAGE, INC. | $55,000 | n/a | 0.0% | |
| PUBLIX EMPLOYEES | $55,000 | n/a | 0.0% | |
| Baxter Credit Union | $45,000 | n/a | 0.0% |
Richmond - Berea's top lender by overall market share is Whitaker Bank, with 9.5% market share. In second place, with 8.2%, is GENEVA FINANCIAL, LLC, having originated $34,670,000 in loans. In third place, with 4.7%, is ARK-LA-TEX FINANCIAL SERVICES, LLC., having originated $20,065,000 in loans. In fourth place, with 4.7%, is QUICKEN LOANS, LLC, having originated $19,810,000 in loans. In fifth place, with 3.5%, is Community Trust Bank, Inc., having originated $14,810,000 in loans.
Richmond-Berea, KY Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 1,252 | $318,180,000 | $254,137 |
| Refi | 260 | $45,160,000 | $173,692 |
| Home Improvement | 203 | $14,015,000 | $69,039 |
| Other | 195 | $14,785,000 | $75,821 |
| Cash Out Refi | 172 | $30,970,000 | $180,058 |
Richmond - Berea's most frequently cited loan purpose was Home Purchase, with 1,252 originations. The 2nd most popular reason was Refi, with 260 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 800 | $194,320,000 | $242,900 |
| 7-8% | 425 | $84,505,000 | $198,835 |
| Over 8% | 372 | $35,650,000 | $95,833 |
| 5-6% | 302 | $78,270,000 | $259,172 |
| 3-4% | 48 | $740,000 | $15,417 |
| 4-5% | 20 | $3,280,000 | $164,000 |
| <2.5% | 4 | $370,000 | $92,500 |
| 2.5-3% | 2 | $280,000 | $140,000 |
During 2023, Richmond - Berea's most frequently originated rate bucket was 6-7%, with 800 originations.
Loan Sizing (Richmond-Berea, KY MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 743 | $198,355,000 | $266,965 |
| $100,000 or less | 600 | $30,680,000 | $51,133 |
| $100k-200k | 594 | $87,290,000 | $146,953 |
| $400k-600k | 94 | $44,480,000 | $473,191 |
| $600k-1000k | 36 | $26,180,000 | $727,222 |
| $Over $1MM | 15 | $36,125,000 | $2,408,333 |
Richmond - Berea's loan sizing saw the bucket of loans from $200k-400k with 743 originations, totaling $198,355,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 819 | $204,385,000 | $249,554 |
| 60-80% | 363 | $106,825,000 | $294,284 |
| Under 20% | 309 | $13,055,000 | $42,249 |
| 20-40% | 249 | $23,845,000 | $95,763 |
| 40-60% | 197 | $40,865,000 | $207,437 |
| Over 100% | 32 | $7,460,000 | $233,125 |
Richmond - Berea's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 819 originations, totaling $204,385,000 in origination value.