Scottsburg Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Scottsburg averaged 7.08% for the week of 2023-09-21, compared to the national average of 7.19% for the same period.

    The average rate for the prior week (2023-09-14) was 7.27% and one month ago for the week of 2023-08-17, the average rate was 6.88%.

    Scottsburg's average rate one year ago was 6.01%.

    For refis of the same type during the week of 2023-09-21, the average rate was 7.79%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-09-21 7.19%
    Scottsburg 30 Year Fixed Rate 2023-09-21 7.08%
    Scottsburg 30 Year Fixed Rate Refi 2023-09-21 7.79%
    Scottsburg 15 Year Fixed Rate 2023-09-21 6.74%
    Scottsburg 15 Year Fixed Rate Refi 2023-09-21 6.54%
    Scottsburg 30 Year FHA 2023-09-21 6.66%
    Scottsburg 30 Year FHA Refi 2023-09-21 6.94%
    Scottsburg 30 Year USDA 2023-09-21 7.02%
    Scottsburg 30 Year USDA Refi 2023-09-21 6.82%
    Scottsburg 30 Year VA 2023-09-21 6.62%
    Scottsburg 30 Year VA Refi 2023-09-21 6.82%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Scottsburg, IN.

    Scottsburg 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 Scottsburg, 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
    Centra Credit Union 31 4.85% $2,714
    UNITED WHOLESALE MORTGAGE, LLC 16 5.38% $3,270
    HOME POINT FINANCIAL CORPORATION 14 4.56% $3,566
    DIRECT MORTGAGE LOANS, LLC 12 5.85% $5,547
    QUICKEN LOANS, LLC 10 4.57% $5,919
    WesBanco 8 5.22% $2,981
    RUOFF MORTGAGE COMPANY, INC. 8 4.64% $2,293
    Stock Yards Bank & Trust Company 7 4.99% $2,273
    LOANDEPOT.COM, LLC 7 4.68% $4,566
    First Savings Bank 6 4.60% $3,305
    INTERLINC MORTGAGE SERVICES, LLC 4 5.53% $4,096
    JPMorgan Chase Bank 4 4.90% $5,016
    Jackson County Bank 3 4.71% $2,934
    INSPIRE HOME LOANS INC. 3 6.21% $3,483
    Wolfe Financial, Inc 3 6.29% $3,629
    Farm Credit Mid-America, ACA 3 6.82% $5,638
    Prosperity Home Mortgage, LLC 3 4.25% $2,247
    Northpointe Bank 3 5.33% $3,879
    FREEDOM MORTGAGE CORPORATION 3 5.38% $4,583
    First Harrison Bank 2 4.32% $2,231
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 4.87% $2,459
    Fifth Third Bank 2 4.25% $4,165
    GVC MORTGAGE, INC. 2 3.31% $5,200
    LAKEVIEW LOAN SERVICING, LLC 2 3.87% $3,615
    Mortgage Research Center, LLC 2 4.31% $2,988
    Mr. Cooper ( Nationstar Mortgage ) 2 4.38% $14,261
    NEWREZ LLC 2 5.18% $4,219
    Wells Fargo Bank 2 4.31% $5,573
    GENEVA FINANCIAL, LLC 1 4.38% $2,709
    Flagstar Bank, FSB 1 3.88% $2,803
    THRIVE MORTGAGE, LLC 1 4.88% $2,694
    L & N Federal Credit Union 1 3.63% $1,797
    21ST MORTGAGE CORPORATION 1 7.30% $5,540
    Loan Simple, Inc. 1 4.88% $4,197
    Bank of America 1 6.13% $3,399
    AMERICAN MORTGAGE SERVICE COMPANY 1 5.75% $4,205
    Nations Lending Corporation 1 4.13% $8,411
    AMERISAVE MORTGAGE CORPORATION 1 6.99% $6,001
    First Financial Bank 1 5.63% $2,096
    Northwest Bank 1 6.38% $2,581
    PENNYMAC LOAN SERVICES, LLC 1 4.00% $3,793
    PNC Bank 1 3.88% $4,307
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.88% $2,835
    FirstBank 1 5.38% $1,903
    PROVIDENT FUNDING ASSOCIATES, L.P. 1 5.38% $2,872
    EMBRACE HOME LOANS, INC. 1 3.99% $7,431
    Citizens Bank 1 3.50% $2,174
    Sierra Pacific Mortgage Company, Inc. 1 6.38% $2,223
    STEARNS LENDING, LLC 1 3.75% $2,548
    BEACON CREDIT UNION 1 3.75% $2,637
    The Huntington National Bank 1 3.50% $2,729
    Horizon Bank 1 5.13% $2,140
    INDIANA MEMBERS CREDIT UNION 1 5.88% $2,763
    INDIANA UNIVERSITY CREDIT UNION 1 5.38% $1,671
    HOMESIDE FINANCIAL, LLC 1 7.13% $3,163
    German American Bank 1 5.38% $2,858

    Scottsburg Average Closing Costs & Other Stats

    Scottsburg, IN's 56 lenders originated 677 loans during 2022. The total origination value was $101,775,000, with an average loan value of $150,332.

    Scottsburg's average closing costs are $4,201.

    The top Scottsburg lender as defined by loan originations is Centra Credit Union, with 31 loans originated. Their average total fees are $2,714, which is $556 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Scottsburg lenders (with over 10 loans originated) are Centra Credit Union ($2,714), UNITED WHOLESALE MORTGAGE, LLC ($3,270), HOME POINT FINANCIAL CORPORATION ($3,566), DIRECT MORTGAGE LOANS, LLC ($5,547) and QUICKEN LOANS, LLC ($5,919).

    The lowest rate Scottsburg lenders (with over 10 loans originated) are HOME POINT FINANCIAL CORPORATION (4.56%), QUICKEN LOANS, LLC (4.57%), Centra Credit Union (4.85%), UNITED WHOLESALE MORTGAGE, LLC (5.38%) and DIRECT MORTGAGE LOANS, LLC (5.85%).

    Scottsburg, 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
    Centra Credit Union $15,025,000 $15,000,000 -0.2% 14.7%
    DIRECT MORTGAGE LOANS, LLC $650,000 $8,405,000 1,193.1% 8.3%
    UNITED WHOLESALE MORTGAGE, LLC $8,530,000 $6,920,000 -18.9% 6.8%
    HOME POINT FINANCIAL CORPORATION $11,700,000 $5,600,000 -52.1% 5.5%
    FREEDOM MORTGAGE CORPORATION $4,110,000 $4,075,000 -0.9% 4.0%
    QUICKEN LOANS, LLC $10,005,000 $3,750,000 -62.5% 3.7%
    RUOFF MORTGAGE COMPANY, INC. $5,790,000 $2,850,000 -50.8% 2.8%
    INSPIRE HOME LOANS INC. $2,760,000 n/a 2.7%
    Century Mortgage Company DBA Century Lending Company $1,980,000 $2,240,000 13.1% 2.2%
    Independence Bank of Kentucky $2,205,000 n/a 2.2%
    First Savings Bank $1,500,000 $2,140,000 42.7% 2.1%
    LOANDEPOT.COM, LLC $1,670,000 $2,040,000 22.2% 2.0%
    Mortgage Research Center, LLC $3,660,000 $1,975,000 -46.0% 1.9%
    21ST MORTGAGE CORPORATION $875,000 $1,880,000 114.9% 1.8%
    WesBanco Bank, Inc. $2,485,000 $1,600,000 -35.6% 1.6%
    INTERLINC MORTGAGE SERVICES, LLC $2,185,000 $1,570,000 -28.1% 1.5%
    Northpointe Bank $735,000 $1,550,000 110.9% 1.5%
    GVC MORTGAGE, INC. $545,000 $1,545,000 183.5% 1.5%
    Stock Yards Bank & Trust Company $1,265,000 $1,540,000 21.7% 1.5%
    German American Bank $1,140,000 $1,295,000 13.6% 1.3%
    Mr. Cooper ( Nationstar Mortgage ) $1,195,000 $1,280,000 7.1% 1.3%
    Jackson County Bank $1,905,000 $1,115,000 -41.5% 1.1%
    JPMorgan Chase Bank $1,555,000 $1,110,000 -28.6% 1.1%
    LAKEVIEW LOAN SERVICING, LLC $1,240,000 $1,025,000 -17.3% 1.0%
    The Farmers Bank of Milton $55,000 $1,000,000 1,718.2% 1.0%
    First Financial Bank $2,470,000 $940,000 -61.9% 0.9%
    PENNYMAC LOAN SERVICES, LLC $1,970,000 $940,000 -52.3% 0.9%
    Farm Credit Mid-America, ACA $2,680,000 $905,000 -66.2% 0.9%
    SUCCESS MORTGAGE PARTNERS, INC. $1,300,000 $900,000 -30.8% 0.9%
    Wolfe Financial, Inc $6,755,000 $815,000 -87.9% 0.8%
    FAIR WAY LENDING LLC $2,635,000 $695,000 -73.6% 0.7%
    MID AMERICA MORTGAGE, INC. $1,030,000 $610,000 -40.8% 0.6%
    Fifth Third Bank $1,205,000 $590,000 -51.0% 0.6%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,510,000 $570,000 -62.3% 0.6%
    First Federal Bank of the Midwest $570,000 n/a 0.6%
    Wells Fargo Bank $615,000 $570,000 -7.3% 0.6%
    First Harrison Bank $725,000 $565,000 -22.1% 0.6%
    BROKER SOLUTIONS, INC. $1,160,000 $550,000 -52.6% 0.5%
    Loan Simple, Inc. $540,000 n/a 0.5%
    The Federal Savings Bank $530,000 n/a 0.5%
    Flagstar Bank, FSB $485,000 $510,000 5.2% 0.5%
    Equity Prime Mortgage LLC $240,000 $495,000 106.3% 0.5%
    PNC Bank $515,000 $485,000 -5.8% 0.5%
    NEW DAY FINANCIAL, LLC $115,000 $460,000 300.0% 0.5%
    Carrington Mortgage Services, LLC $760,000 $445,000 -41.4% 0.4%
    Prosperity Home Mortgage, LLC $1,025,000 $445,000 -56.6% 0.4%
    1ST SIGNATURE LENDING, LLC $700,000 $440,000 -37.1% 0.4%
    AMERICAN MORTGAGE SERVICE COMPANY $135,000 $430,000 218.5% 0.4%
    CROSSCOUNTRY MORTGAGE, LLC $395,000 $405,000 2.5% 0.4%
    GENEVA FINANCIAL, LLC $115,000 $395,000 243.5% 0.4%
    SOUTH CENTRAL BANK, INC. $370,000 n/a 0.4%
    AMERISAVE MORTGAGE CORPORATION $1,160,000 $360,000 -69.0% 0.4%
    NEWREZ LLC $630,000 $345,000 -45.2% 0.3%
    Magnolia Bank $1,860,000 $330,000 -82.3% 0.3%
    EVANSVILLE TEACHERS $95,000 $325,000 242.1% 0.3%
    INDIANA UNIVERSITY CREDIT UNION $165,000 $325,000 97.0% 0.3%
    USAA Federal Savings Bank $510,000 $325,000 -36.3% 0.3%
    Citizens Bank $430,000 $295,000 -31.4% 0.3%
    GUARANTY HOME MORTGAGE CORPORATION $1,005,000 $290,000 -71.1% 0.3%
    BEACON CREDIT UNION $275,000 n/a 0.3%
    PROVIDENT FUNDING ASSOCIATES, L.P. $265,000 n/a 0.3%
    Horizon Bank $260,000 n/a 0.3%
    The Friendship State Bank $220,000 $260,000 18.2% 0.3%
    BAY EQUITY LLC $165,000 $245,000 48.5% 0.2%
    The Huntington National Bank $75,000 $240,000 220.0% 0.2%
    EMBRACE HOME LOANS, INC. $235,000 n/a 0.2%
    Nations Lending Corporation $125,000 $235,000 88.0% 0.2%
    U.S. Bank $820,000 $235,000 -71.3% 0.2%
    Arbor Bank $225,000 n/a 0.2%
    HOMESIDE FINANCIAL, LLC $430,000 $225,000 -47.7% 0.2%
    AMERICAN FINANCIAL RESOURCES, INC. $300,000 $215,000 -28.3% 0.2%
    UNION HOME MORTGAGE CORP. $440,000 $215,000 -51.1% 0.2%
    FINANCE OF AMERICA MORTGAGE LLC $185,000 $195,000 5.4% 0.2%
    ROYAL UNITED MORTGAGE LLC $405,000 $195,000 -51.9% 0.2%
    STEARNS LENDING, LLC $800,000 $195,000 -75.6% 0.2%
    NAVY FEDERAL CREDIT UNION $735,000 $185,000 -74.8% 0.2%
    Bank of America $485,000 $175,000 -63.9% 0.2%
    EVERETT FINANCIAL, INC. $175,000 n/a 0.2%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $175,000 n/a 0.2%
    CALIBER HOME LOANS, INC. $625,000 $165,000 -73.6% 0.2%
    HALLMARK HOME MORTGAGE, LLC $225,000 $165,000 -26.7% 0.2%
    Northwest Bank $335,000 $165,000 -50.7% 0.2%
    ENVOY MORTGAGE, LTD $155,000 n/a 0.2%
    MICHIGAN MUTUAL, INC. $155,000 n/a 0.2%
    Sierra Pacific Mortgage Company, Inc. $275,000 $155,000 -43.6% 0.2%
    THRIVE MORTGAGE, LLC $290,000 $155,000 -46.6% 0.2%
    VANDERBILT MORTGAGE AND FINANCE, INC. $315,000 $155,000 -50.8% 0.2%
    L & N Federal Credit Union $285,000 $140,000 -50.9% 0.1%
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $215,000 $135,000 -37.2% 0.1%
    FBC MORTGAGE, LLC $320,000 $135,000 -57.8% 0.1%
    LENDINGHOME FUNDING CORPORATION $135,000 n/a 0.1%
    Mid-Southern Savings Bank, FSB $135,000 n/a 0.1%
    INDIANA MEMBERS CREDIT UNION $135,000 $125,000 -7.4% 0.1%
    Old National Bank $85,000 $125,000 47.1% 0.1%
    CREDIT UNION MORTGAGE ASSOCIATION, INC. $105,000 n/a 0.1%
    FirstBank $105,000 n/a 0.1%
    Park Lane Finance Solutions, LLC $105,000 $105,000 0.0% 0.1%
    NORTHERN MORTGAGE SERVICES, LLC $95,000 n/a 0.1%
    OPEN MORTGAGE, LLC $95,000 n/a 0.1%
    AMERIFIRST FINANCIAL CORPORATION $75,000 n/a 0.1%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $55,000 $75,000 36.4% 0.1%
    Republic Bank & Trust Company $150,000 $75,000 -50.0% 0.1%
    The New Washington State Bank $45,000 $75,000 66.7% 0.1%
    PARK COMMUNITY CREDIT UNION, INC. $95,000 $55,000 -42.1% 0.1%
    TEACHERS CREDIT UNION $320,000 $55,000 -82.8% 0.1%

    Scottsburg's top lender by overall market share is Centra Credit Union, with 14.7% market share. In second place, with 8.3%, is DIRECT MORTGAGE LOANS, LLC, having originated $8,405,000 in loans. In third place, with 6.8%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $6,920,000 in loans. In fourth place, with 5.5%, is HOME POINT FINANCIAL CORPORATION, having originated $5,600,000 in loans. In fifth place, with 4.0%, is FREEDOM MORTGAGE CORPORATION, having originated $4,075,000 in loans.

    Scottsburg, IN Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 339 $60,635,000 $178,864
    Cash Out Refi 132 $21,310,000 $161,439
    Refi 78 $11,130,000 $142,692
    Home Improvement 75 $4,745,000 $63,267
    Other 53 $3,955,000 $74,623

    Scottsburg's most frequently cited loan purpose was Home Purchase, with 339 originations. The 2nd most popular reason was Cash Out Refi, with 132 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 160 $26,480,000 $165,500
    4-5% 144 $23,530,000 $163,403
    3-4% 108 $20,210,000 $187,130
    6-7% 101 $15,165,000 $150,149
    <2.5% 79 $6,365,000 $80,570
    Over 8% 29 $1,715,000 $59,138
    2.5-3% 27 $4,135,000 $153,148
    7-8% 25 $2,965,000 $118,600

    During 2022, Scottsburg's most frequently originated rate bucket was 5-6%, with 160 originations.

    Loan Sizing (Scottsburg, IN MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 329 $48,635,000 $147,827
    $100,000 or less 203 $11,735,000 $57,808
    $200k-400k 136 $35,150,000 $258,456
    $400k-600k 7 $3,345,000 $477,857
    $600k-1000k 1 $705,000 $705,000
    $Over $1MM 1 $2,205,000 $2,205,000

    Scottsburg's loan sizing saw the bucket of loans from $100k-200k with 329 originations, totaling $48,635,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 323 $57,425,000 $177,786
    60-80% 123 $21,685,000 $176,301
    40-60% 85 $10,175,000 $119,706
    20-40% 76 $6,270,000 $82,500
    Under 20% 50 $1,800,000 $36,000
    Over 100% 6 $1,390,000 $231,667

    Scottsburg's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 323 originations, totaling $57,425,000 in origination value.