Scottsburg Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Scottsburg averaged
7.28%
for the week of 2024-04-18, compared to the national average of
7.1% for the same period.
The average rate for the prior week (2024-04-11) was
6.86% and
one month ago for the week of 2024-03-14, the
average rate was 6.92%.
Scottsburg's average rate one year ago was 6.35%.
For refis of the same type during the week of 2024-04-18, the average rate
was 7.7%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-04-18 | 7.1% |
| Scottsburg 30 Year Fixed Rate | 2024-04-18 | 7.28% |
| Scottsburg 30 Year Fixed Rate Refi | 2024-04-18 | 7.7% |
| Scottsburg 15 Year Fixed Rate | 2024-04-18 | 6.39% |
| Scottsburg 15 Year Fixed Rate Refi | 2024-04-18 | 6.39% |
| Scottsburg 30 Year FHA | 2024-04-18 | 6.76% |
| Scottsburg 30 Year FHA Refi | 2024-04-18 | 6.76% |
| Scottsburg 30 Year USDA | 2024-04-18 | 6.86% |
| Scottsburg 30 Year USDA Refi | 2024-04-18 | 7.06% |
| Scottsburg 30 Year VA | 2024-04-18 | 6.96% |
| Scottsburg 30 Year VA Refi | 2024-04-18 | 6.96% |
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.).
Scottsburg Average Closing Costs & Other Stats
Scottsburg, IN's 41 lenders originated 504
loans during 2023. The total origination value was $76,560,000, with an average loan value of
$151,905.
Scottsburg's average closing costs are $4,431.
The top Scottsburg lender as defined by loan originations is Centra Credit Union, with
30 loans originated. Their average total fees are
$2,916, which is $2,339
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Scottsburg lenders (with over 10 loans originated) are
Centra Credit Union ($2,916), UNITED WHOLESALE MORTGAGE, LLC ($5,255), .
The lowest rate Scottsburg lenders (with over 10 loans originated) are
Centra Credit Union (6.54%), UNITED WHOLESALE MORTGAGE, LLC (6.86%), .
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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| Centra Credit Union | $15,000,000 | $13,165,000 | -12.2% | 17.2% |
| UNITED WHOLESALE MORTGAGE, LLC | $6,920,000 | $7,490,000 | 8.2% | 9.8% |
| DIRECT MORTGAGE LOANS, LLC | $8,405,000 | $4,280,000 | -49.1% | 5.6% |
| QUICKEN LOANS, LLC | $3,750,000 | $3,865,000 | 3.1% | 5.0% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $570,000 | $2,545,000 | 346.5% | 3.3% |
| WALKER & DUNLOP, LLC | $2,495,000 | n/a | 3.3% | |
| EVANSVILLE TEACHERS | $325,000 | $1,880,000 | 478.5% | 2.5% |
| Northpointe Bank | $1,550,000 | $1,830,000 | 18.1% | 2.4% |
| Stock Yards Bank & Trust Company | $1,540,000 | $1,740,000 | 13.0% | 2.3% |
| Farm Credit Mid-America, ACA | $905,000 | $1,620,000 | 79.0% | 2.1% |
| Mortgage Research Center, LLC | $1,975,000 | $1,565,000 | -20.8% | 2.0% |
| First Savings Bank | $2,140,000 | $1,435,000 | -32.9% | 1.9% |
| STOCKTON MORTGAGE CORPORATION | $1,145,000 | n/a | 1.5% | |
| RUOFF MORTGAGE COMPANY, INC. | $2,850,000 | $1,115,000 | -60.9% | 1.5% |
| INSPIRE HOME LOANS INC. | $2,760,000 | $1,100,000 | -60.1% | 1.4% |
| INTERLINC MORTGAGE SERVICES, LLC | $1,570,000 | $1,045,000 | -33.4% | 1.4% |
| FREEDOM MORTGAGE CORPORATION | $4,075,000 | $1,025,000 | -74.8% | 1.3% |
| JPMorgan Chase Bank | $1,110,000 | $980,000 | -11.7% | 1.3% |
| WesBanco | $1,600,000 | $965,000 | -39.7% | 1.3% |
| Equity Prime Mortgage LLC | $495,000 | $930,000 | 87.9% | 1.2% |
| First Financial Bank | $940,000 | $910,000 | -3.2% | 1.2% |
| 1ST SIGNATURE LENDING, LLC | $440,000 | $905,000 | 105.7% | 1.2% |
| PENNYMAC LOAN SERVICES, LLC | $940,000 | $860,000 | -8.5% | 1.1% |
| 21ST MORTGAGE CORPORATION | $1,880,000 | $760,000 | -59.6% | 1.0% |
| German American Bank | $1,295,000 | $730,000 | -43.6% | 1.0% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $155,000 | $730,000 | 371.0% | 1.0% |
| Jackson County Bank | $1,115,000 | $700,000 | -37.2% | 0.9% |
| SUCCESS MORTGAGE PARTNERS, INC. | $900,000 | $685,000 | -23.9% | 0.9% |
| Citizens Bank | $295,000 | $630,000 | 113.6% | 0.8% |
| Republic Bank & Trust Company | $75,000 | $605,000 | 706.7% | 0.8% |
| Plains Commerce Bank | $555,000 | n/a | 0.7% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $535,000 | n/a | 0.7% | |
| First Harrison Bank | $565,000 | $520,000 | -8.0% | 0.7% |
| BROKER SOLUTIONS, INC. | $550,000 | $495,000 | -10.0% | 0.6% |
| LOANDEPOT.COM, LLC | $2,040,000 | $480,000 | -76.5% | 0.6% |
| NAVY FEDERAL CREDIT UNION | $185,000 | $480,000 | 159.5% | 0.6% |
| GVC MORTGAGE, INC. | $1,545,000 | $475,000 | -69.3% | 0.6% |
| GENEVA FINANCIAL, LLC | $395,000 | $455,000 | 15.2% | 0.6% |
| FAIR WAY LENDING LLC | $695,000 | $445,000 | -36.0% | 0.6% |
| GUILD MORTGAGE COMPANY | $435,000 | n/a | 0.6% | |
| LEADERONE FINANCIAL CORPORATION | $420,000 | n/a | 0.5% | |
| AmeriHome Mortgage Company, LLC | $415,000 | n/a | 0.5% | |
| Century Mortgage Company DBA Century Lending Company | $2,240,000 | $410,000 | -81.7% | 0.5% |
| VILLAGE CAPITAL MORTGAGE | $390,000 | n/a | 0.5% | |
| Prosperity Home Mortgage, LLC | $445,000 | $380,000 | -14.6% | 0.5% |
| Guardian Savings Bank, A Federal Savings Bank | $375,000 | n/a | 0.5% | |
| Flagstar Bank, FSB | $510,000 | $370,000 | -27.5% | 0.5% |
| MID AMERICA MORTGAGE, INC. | $610,000 | $365,000 | -40.2% | 0.5% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $345,000 | n/a | 0.5% | |
| LAKEVIEW LOAN SERVICING, LLC | $1,025,000 | $340,000 | -66.8% | 0.4% |
| Wolfe Financial, Inc | $815,000 | $320,000 | -60.7% | 0.4% |
| AMERISAVE MORTGAGE CORPORATION | $360,000 | $310,000 | -13.9% | 0.4% |
| County National Bank | $305,000 | n/a | 0.4% | |
| HOMESIDE FINANCIAL, LLC | $225,000 | $270,000 | 20.0% | 0.4% |
| Fifth Third Bank | $590,000 | $245,000 | -58.5% | 0.3% |
| PLUS RELOCATION MORTGAGE, LLC | $225,000 | n/a | 0.3% | |
| ZILLOW HOME LOANS, LLC | $220,000 | n/a | 0.3% | |
| FIRST COMMUNITY MORTGAGE, INC. | $215,000 | n/a | 0.3% | |
| MORTGAGE MASTERS OF INDIANA, INC. | $215,000 | n/a | 0.3% | |
| NEW DAY FINANCIAL, LLC | $460,000 | $215,000 | -53.3% | 0.3% |
| EMM LOANS LLC | $205,000 | n/a | 0.3% | |
| ENVOY MORTGAGE, LTD | $155,000 | $205,000 | 32.3% | 0.3% |
| Nations Lending Corporation | $235,000 | $205,000 | -12.8% | 0.3% |
| ROYAL UNITED MORTGAGE LLC | $195,000 | $190,000 | -2.6% | 0.2% |
| TEACHERS CREDIT UNION | $55,000 | $190,000 | 245.5% | 0.2% |
| Carrington Mortgage Services, LLC | $445,000 | $185,000 | -58.4% | 0.2% |
| Mr. Cooper ( Nationstar Mortgage ) | $1,280,000 | $185,000 | -85.5% | 0.2% |
| PLANET HOME LENDING, LLC | $175,000 | n/a | 0.2% | |
| PLAZA HOME MORTGAGE, INC. | $175,000 | n/a | 0.2% | |
| PNC Bank | $485,000 | $175,000 | -63.9% | 0.2% |
| L & N Federal Credit Union | $140,000 | $170,000 | 21.4% | 0.2% |
| GUARANTEED RATE, INC. | $165,000 | n/a | 0.2% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $165,000 | n/a | 0.2% | |
| NEWREZ LLC | $345,000 | $165,000 | -52.2% | 0.2% |
| Sierra Pacific Mortgage Company, Inc. | $155,000 | $165,000 | 6.5% | 0.2% |
| CARDINAL FINANCIAL | $160,000 | n/a | 0.2% | |
| FORUM Credit Union | $145,000 | n/a | 0.2% | |
| The Loan Store, Inc. | $145,000 | n/a | 0.2% | |
| Discover Bank | $140,000 | n/a | 0.2% | |
| Bath State Bank | $135,000 | n/a | 0.2% | |
| Magnolia Bank | $330,000 | $135,000 | -59.1% | 0.2% |
| SUN WEST MORTGAGE COMPANY, INC. | $135,000 | n/a | 0.2% | |
| THE MORTGAGE WAREHOUSE,LLC | $135,000 | n/a | 0.2% | |
| The Farmers Bank of Milton | $1,000,000 | $125,000 | -87.5% | 0.2% |
| FINANCE OF AMERICA REVERSE LLC | $95,000 | n/a | 0.1% | |
| Old National Bank | $125,000 | $90,000 | -28.0% | 0.1% |
| U.S. Bank | $235,000 | $85,000 | -63.8% | 0.1% |
| The Huntington National Bank | $240,000 | $75,000 | -68.8% | 0.1% |
| Central Bank | $65,000 | n/a | 0.1% | |
| The Friendship State Bank | $260,000 | $55,000 | -78.8% | 0.1% |
| Figure Lending LLC | $45,000 | n/a | 0.1% | |
| Park Lane Finance Solutions, LLC | $105,000 | $25,000 | -76.2% | 0.0% |
Scottsburg's top lender by overall market share is Centra Credit Union, with 17.2% market share. In second place, with 9.8%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $7,490,000 in loans. In third place, with 5.6%, is DIRECT MORTGAGE LOANS, LLC, having originated $4,280,000 in loans. In fourth place, with 5.0%, is QUICKEN LOANS, LLC, having originated $3,865,000 in loans. In fifth place, with 3.3%, is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, having originated $2,545,000 in loans.
Scottsburg, IN Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 253 | $49,995,000 | $197,609 |
| Other | 70 | $5,300,000 | $75,714 |
| Cash Out Refi | 70 | $10,010,000 | $143,000 |
| Home Improvement | 61 | $3,745,000 | $61,393 |
| Refi | 43 | $6,615,000 | $153,837 |
| NA | 7 | $895,000 | $127,857 |
Scottsburg's most frequently cited loan purpose was Home Purchase, with 253 originations. The 2nd most popular reason was Other, with 70 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 181 | $31,285,000 | $172,845 |
| 7-8% | 135 | $22,695,000 | $168,111 |
| 5-6% | 81 | $13,445,000 | $165,988 |
| Over 8% | 64 | $5,880,000 | $91,875 |
| 4-5% | 20 | $2,010,000 | $100,500 |
| <2.5% | 14 | $620,000 | $44,286 |
| 3-4% | 2 | $140,000 | $70,000 |
| 2.5-3% | 1 | $165,000 | $165,000 |
During 2023, Scottsburg's most frequently originated rate bucket was 6-7%, with 181 originations.
Loan Sizing (Scottsburg, IN MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 220 | $32,980,000 | $149,909 |
| $100,000 or less | 176 | $8,840,000 | $50,227 |
| $200k-400k | 93 | $24,355,000 | $261,882 |
| $400k-600k | 11 | $5,055,000 | $459,545 |
| $600k-1000k | 2 | $1,430,000 | $715,000 |
| $Over $1MM | 2 | $3,900,000 | $1,950,000 |
Scottsburg's loan sizing saw the bucket of loans from $100k-200k with 220 originations, totaling $32,980,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 218 | $44,020,000 | $201,927 |
| 60-80% | 86 | $16,460,000 | $191,395 |
| Under 20% | 75 | $2,335,000 | $31,133 |
| 20-40% | 65 | $4,965,000 | $76,385 |
| 40-60% | 50 | $6,910,000 | $138,200 |
| Over 100% | 8 | $1,610,000 | $201,250 |
Scottsburg's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 218 originations, totaling $44,020,000 in origination value.