Roanoke Rapids Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Roanoke Rapids averaged
6.32%
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
6.64% and
one month ago for the week of 2024-06-13, the
average rate was 6.7%.
Roanoke Rapids's average rate one year ago was 6.91%.
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% |
| Roanoke Rapids 30 Year Fixed Rate | 2024-07-18 | 6.32% |
| Roanoke Rapids 30 Year Fixed Rate Refi | 2024-07-18 | 7.07% |
| Roanoke Rapids 15 Year Fixed Rate | 2024-07-18 | 5.85% |
| Roanoke Rapids 15 Year Fixed Rate Refi | 2024-07-18 | 5.95% |
| Roanoke Rapids 30 Year FHA | 2024-07-18 | 6.63% |
| Roanoke Rapids 30 Year FHA Refi | 2024-07-18 | 6.69% |
| Roanoke Rapids 30 Year USDA | 2024-07-18 | 6.43% |
| Roanoke Rapids 30 Year USDA Refi | 2024-07-18 | 6.63% |
| Roanoke Rapids 30 Year VA | 2024-07-18 | 6.4% |
| Roanoke Rapids 30 Year VA Refi | 2024-07-18 | 6.1% |
Roanoke Rapids 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 Roanoke Rapids, NC 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.).
Roanoke Rapids Average Closing Costs & Other Stats
Roanoke Rapids, NC's 58 lenders originated 727
loans during 2023. The total origination value was $121,745,000, with an average loan value of
$167,462.
Roanoke Rapids's average closing costs are $4,616.
The top Roanoke Rapids lender as defined by loan originations is STATE EMPLOYEES', with
68 loans originated. Their average total fees are
$3,759, which is $3,577
lower than the next largest lender,
ATLANTIC BAY MORTGAGE GROUP, L.L.C..
The lowest fee Roanoke Rapids lenders (with over 10 loans originated) are
STATE EMPLOYEES' ($3,759), QUICKEN LOANS, LLC ($6,897), ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($7,336), .
The lowest rate Roanoke Rapids lenders (with over 10 loans originated) are
STATE EMPLOYEES' (6.01%), QUICKEN LOANS, LLC (6.75%), ATLANTIC BAY MORTGAGE GROUP, L.L.C. (6.94%), .
Roanoke Rapids, NC 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 |
|---|---|---|---|---|
| STATE EMPLOYEES' | $27,440,000 | $21,365,000 | -22.1% | 17.5% |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $13,110,000 | $14,430,000 | 10.1% | 11.9% |
| QUICKEN LOANS, LLC | $10,360,000 | $7,220,000 | -30.3% | 5.9% |
| Truist | $8,730,000 | $5,155,000 | -41.0% | 4.2% |
| Southern Bank and Trust Company | $4,370,000 | $4,500,000 | 3.0% | 3.7% |
| Benchmark Community Bank | $3,975,000 | $3,900,000 | -1.9% | 3.2% |
| Mortgage Research Center, LLC | $5,865,000 | $3,695,000 | -37.0% | 3.0% |
| Touchstone Bank | $1,850,000 | $3,320,000 | 79.5% | 2.7% |
| INTERCOASTAL MORTGAGE COMPANY | $2,075,000 | $2,715,000 | 30.8% | 2.2% |
| PNC Bank | $2,975,000 | $2,425,000 | -18.5% | 2.0% |
| LOCAL GOVERNMENT FEDERAL CREDIT UNION | $2,855,000 | $2,420,000 | -15.2% | 2.0% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $2,635,000 | $2,235,000 | -15.2% | 1.8% |
| JPMorgan Chase Bank | $285,000 | $2,000,000 | 601.8% | 1.6% |
| Bank of America | $1,360,000 | $1,520,000 | 11.8% | 1.2% |
| NEW DAY FINANCIAL, LLC | $210,000 | $1,490,000 | 609.5% | 1.2% |
| First-Citizens Bank & Trust Company | $6,425,000 | $1,455,000 | -77.4% | 1.2% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $1,095,000 | $1,450,000 | 32.4% | 1.2% |
| 21ST MORTGAGE CORPORATION | $735,000 | $1,275,000 | 73.5% | 1.0% |
| MOVEMENT MORTGAGE, LLC | $2,465,000 | $1,250,000 | -49.3% | 1.0% |
| BROKER SOLUTIONS, INC. | $1,805,000 | $1,150,000 | -36.3% | 0.9% |
| NAVY FEDERAL CREDIT UNION | $1,980,000 | $995,000 | -49.7% | 0.8% |
| Mr. Cooper ( Nationstar Mortgage ) | $920,000 | $985,000 | 7.1% | 0.8% |
| COASTAL Federal Credit Union | $1,845,000 | $930,000 | -49.6% | 0.8% |
| UNITED WHOLESALE MORTGAGE, LLC | $2,325,000 | $900,000 | -61.3% | 0.7% |
| CARDINAL FINANCIAL | $630,000 | $895,000 | 42.1% | 0.7% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $115,000 | $885,000 | 669.6% | 0.7% |
| WaterStone Bank, SSB | $875,000 | n/a | 0.7% | |
| Waterstone Mortgage Corporation | $875,000 | n/a | 0.7% | |
| USAA Federal Savings Bank | $295,000 | $870,000 | 194.9% | 0.7% |
| AgCarolina Farm Credit, FLCA | $85,000 | $840,000 | 888.2% | 0.7% |
| NFM, INC. | $395,000 | $825,000 | 108.9% | 0.7% |
| The Fidelity Bank | $1,495,000 | $820,000 | -45.2% | 0.7% |
| Paramount Residential Mortgage Group, Inc. | $2,960,000 | $765,000 | -74.2% | 0.6% |
| PENNYMAC LOAN SERVICES, LLC | $355,000 | $735,000 | 107.0% | 0.6% |
| Tidewater Home Funding, LLC | $645,000 | $730,000 | 13.2% | 0.6% |
| LIBERTY HOME MORTGAGE CORPORATION | $725,000 | n/a | 0.6% | |
| AMERISAVE MORTGAGE CORPORATION | $1,135,000 | $720,000 | -36.6% | 0.6% |
| CROSSCOUNTRY MORTGAGE, LLC | $135,000 | $700,000 | 418.5% | 0.6% |
| TD Bank | $2,235,000 | $685,000 | -69.4% | 0.6% |
| GUARANTEED RATE, INC. | $640,000 | $635,000 | -0.8% | 0.5% |
| 1ST SIGNATURE LENDING, LLC | $620,000 | n/a | 0.5% | |
| Armed Forces Bank | $595,000 | n/a | 0.5% | |
| BNY Mellon | $595,000 | n/a | 0.5% | |
| BAY-VALLEY MORTGAGE GROUP | $575,000 | n/a | 0.5% | |
| PENTAGON FEDERAL CREDIT UNION | $160,000 | $570,000 | 256.3% | 0.5% |
| Alcova Mortgage LLC | $1,315,000 | $560,000 | -57.4% | 0.5% |
| Flagstar Bank, FSB | $890,000 | $560,000 | -37.1% | 0.5% |
| Mortgage Assurance Inc. | $525,000 | n/a | 0.4% | |
| Summit Credit Union | $485,000 | n/a | 0.4% | |
| TIDEWATER MORTGAGE SERVICES, INC. | $65,000 | $445,000 | 584.6% | 0.4% |
| Wells Fargo Bank | $1,065,000 | $440,000 | -58.7% | 0.4% |
| CHARLOTTE METRO FEDERAL CREDIT UNION | $425,000 | n/a | 0.3% | |
| The Federal Savings Bank | $980,000 | $425,000 | -56.6% | 0.3% |
| Barrington Bank & Trust Company, N.A. | $415,000 | n/a | 0.3% | |
| Discover Bank | $55,000 | $410,000 | 645.5% | 0.3% |
| SOUTHWEST STAGE FUNDING, LLC | $620,000 | $410,000 | -33.9% | 0.3% |
| C & F Mortgage Corporation | $405,000 | n/a | 0.3% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $400,000 | n/a | 0.3% | |
| WRIGHT PATMAN CONGRESSIONAL FEDERAL CREDIT UNION | $395,000 | n/a | 0.3% | |
| BETTER MORTGAGE CORPORATION | $1,410,000 | $385,000 | -72.7% | 0.3% |
| First Horizon Bank | $1,390,000 | $385,000 | -72.3% | 0.3% |
| FIDELITY DIRECT MORTGAGE, LLC | $355,000 | n/a | 0.3% | |
| NEWREZ LLC | $110,000 | $345,000 | 213.6% | 0.3% |
| New Republic Savings Bank | $340,000 | n/a | 0.3% | |
| FREEDOM MORTGAGE CORPORATION | $470,000 | $330,000 | -29.8% | 0.3% |
| First National Bank of Pennsylvania | $2,180,000 | $320,000 | -85.3% | 0.3% |
| GUILD MORTGAGE COMPANY | $165,000 | $300,000 | 81.8% | 0.2% |
| U.S. Bank | $2,830,000 | $295,000 | -89.6% | 0.2% |
| CMG MORTGAGE, INC. | $175,000 | $290,000 | 65.7% | 0.2% |
| Towne Mortgage of the Carolinas, LLC | $645,000 | $285,000 | -55.8% | 0.2% |
| AMERICAN FINANCIAL RESOURCES, INC. | $485,000 | $280,000 | -42.3% | 0.2% |
| Blue Ridge Bank | $830,000 | $255,000 | -69.3% | 0.2% |
| SECURITYNATIONAL MORTGAGE COMPANY | $250,000 | n/a | 0.2% | |
| Florida Capital Bank | $245,000 | n/a | 0.2% | |
| Plains Commerce Bank | $245,000 | n/a | 0.2% | |
| LOANDEPOT.COM, LLC | $1,375,000 | $240,000 | -82.5% | 0.2% |
| ACADEMY MORTGAGE CORPORATION | $95,000 | $235,000 | 147.4% | 0.2% |
| TRIAD FINANCIAL SERVICES, INC. | $235,000 | n/a | 0.2% | |
| LADERA LENDING, INC. | $225,000 | n/a | 0.2% | |
| Renasant Bank | $225,000 | n/a | 0.2% | |
| UNION HOME MORTGAGE CORP. | $225,000 | n/a | 0.2% | |
| ROYAL UNITED MORTGAGE LLC | $125,000 | $220,000 | 76.0% | 0.2% |
| DELMAR FINANCIAL COMPANY | $205,000 | n/a | 0.2% | |
| Northpointe Bank | $305,000 | $205,000 | -32.8% | 0.2% |
| Bank of England | $155,000 | $195,000 | 25.8% | 0.2% |
| HOMESIDE FINANCIAL, LLC | $525,000 | $175,000 | -66.7% | 0.1% |
| SUN WEST MORTGAGE COMPANY, INC. | $175,000 | n/a | 0.1% | |
| American Security Mortgage Corp. | $165,000 | n/a | 0.1% | |
| Atlantic Coast Mortgage, LLC | $165,000 | n/a | 0.1% | |
| HOMESPIRE MORTGAGE CORPORATION | $160,000 | n/a | 0.1% | |
| CityWorth Mortgage LLC | $155,000 | n/a | 0.1% | |
| Truliant Federal Credit Union | $865,000 | $155,000 | -82.1% | 0.1% |
| Uwharrie Bank | $455,000 | $155,000 | -65.9% | 0.1% |
| Figure Lending LLC | $200,000 | $150,000 | -25.0% | 0.1% |
| MICHIGAN MUTUAL, INC. | $145,000 | n/a | 0.1% | |
| CORNERSTONE HOME LENDING, INC. | $1,135,000 | $135,000 | -88.1% | 0.1% |
| Secured Investment Corp. | $135,000 | n/a | 0.1% | |
| MORTGAGE INVESTORS GROUP, INC. | $125,000 | n/a | 0.1% | |
| FINANCE OF AMERICA REVERSE LLC | $120,000 | n/a | 0.1% | |
| A&D Mortgage LLC | $290,000 | $115,000 | -60.3% | 0.1% |
| AMERICAN FINANCING CORPORATION | $365,000 | $115,000 | -68.5% | 0.1% |
| The Park National Bank | $115,000 | n/a | 0.1% | |
| DAS Acquisition Company, LLC | $105,000 | n/a | 0.1% | |
| DIGITAL Federal Credit Union | $105,000 | n/a | 0.1% | |
| RUOFF MORTGAGE COMPANY, INC. | $75,000 | $105,000 | 40.0% | 0.1% |
| PHH Mortgage Corporation | $95,000 | n/a | 0.1% | |
| Bronco Federal Credit Union | $170,000 | $85,000 | -50.0% | 0.1% |
| LENDINGHOME FUNDING CORPORATION | $55,000 | $85,000 | 54.5% | 0.1% |
| Meridian Bank Corporation | $75,000 | n/a | 0.1% | |
| North State Bank | $75,000 | n/a | 0.1% | |
| Northwest Federal Credit Union | $285,000 | $75,000 | -73.7% | 0.1% |
| Citizens Bank and Trust Company | $55,000 | n/a | 0.0% | |
| Pinnacle Bank | $45,000 | n/a | 0.0% | |
| Bethpage Federal Credit Union | $35,000 | n/a | 0.0% | |
| SPRING EQ, LLC | $35,000 | n/a | 0.0% |
Roanoke Rapids's top lender by overall market share is STATE EMPLOYEES', with 17.5% market share. In second place, with 11.9%, is ATLANTIC BAY MORTGAGE GROUP, L.L.C., having originated $14,430,000 in loans. In third place, with 5.9%, is QUICKEN LOANS, LLC, having originated $7,220,000 in loans. In fourth place, with 4.2%, is Truist, having originated $5,155,000 in loans. In fifth place, with 3.7%, is Southern Bank and Trust Company, having originated $4,500,000 in loans.
Roanoke Rapids, NC Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 435 | $89,895,000 | $206,655 |
| Home Improvement | 80 | $4,960,000 | $62,000 |
| Refi | 80 | $11,260,000 | $140,750 |
| Cash Out Refi | 67 | $10,115,000 | $150,970 |
| Other | 65 | $5,515,000 | $84,846 |
Roanoke Rapids's most frequently cited loan purpose was Home Purchase, with 435 originations. The 2nd most popular reason was Home Improvement, with 80 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 243 | $45,615,000 | $187,716 |
| 7-8% | 169 | $25,105,000 | $148,550 |
| 5-6% | 132 | $27,940,000 | $211,667 |
| Over 8% | 93 | $10,705,000 | $115,108 |
| 4-5% | 55 | $6,585,000 | $119,727 |
| <2.5% | 16 | $270,000 | $16,875 |
| 3-4% | 2 | $390,000 | $195,000 |
During 2023, Roanoke Rapids's most frequently originated rate bucket was 6-7%, with 243 originations.
Loan Sizing (Roanoke Rapids, NC MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 282 | $39,850,000 | $141,312 |
| $100,000 or less | 263 | $14,455,000 | $54,962 |
| $200k-400k | 131 | $34,615,000 | $264,237 |
| $400k-600k | 28 | $13,690,000 | $488,929 |
| $600k-1000k | 20 | $14,980,000 | $749,000 |
| $Over $1MM | 3 | $4,155,000 | $1,385,000 |
Roanoke Rapids's loan sizing saw the bucket of loans from $100k-200k with 282 originations, totaling $39,850,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 323 | $62,325,000 | $192,957 |
| 60-80% | 145 | $29,025,000 | $200,172 |
| 20-40% | 81 | $6,805,000 | $84,012 |
| Under 20% | 81 | $4,205,000 | $51,914 |
| 40-60% | 63 | $10,455,000 | $165,952 |
| Over 100% | 19 | $3,855,000 | $202,895 |
Roanoke Rapids's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 323 originations, totaling $62,325,000 in origination value.