Selma Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Selma averaged
6.91%
for the week of 2024-11-27, compared to the national average of
6.81% for the same period.
The average rate for the prior week (2024-11-21) was
6.74% and
one month ago for the week of 2024-10-24, the
average rate was 6.54%.
Selma's average rate one year ago was 7.29%.
For refis of the same type during the week of 2024-11-27, the average rate
was 6.91%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-11-27 | 6.81% |
Selma 30 Year Fixed Rate | 2024-11-27 | 6.91% |
Selma 30 Year Fixed Rate Refi | 2024-11-27 | 6.91% |
Selma 15 Year Fixed Rate | 2024-11-27 | 6.3% |
Selma 15 Year Fixed Rate Refi | 2024-11-27 | 6.3% |
Selma 30 Year FHA | 2024-11-27 | 0.1% |
Selma 30 Year FHA Refi | 2024-11-27 | 0.1% |
Selma 30 Year USDA | 2024-11-27 | -0.1% |
Selma 30 Year USDA Refi | 2024-11-27 | -0.1% |
Selma 30 Year VA | 2024-11-27 | -0.2% |
Selma 30 Year VA Refi | 2024-11-27 | -0.1% |
Selma 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 Selma, AL 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 | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
QUICKEN LOANS, LLC | 10 | 6.86% | $5,465 |
Trustmark National Bank | 7 | 6.32% | $5,127 |
UNITED WHOLESALE MORTGAGE, LLC | 3 | 7.33% | $8,062 |
Regions Bank | 2 | 6.94% | $4,272 |
CROSSCOUNTRY MORTGAGE, LLC | 2 | 6.63% | $5,056 |
GMFS LLC | 2 | 5.81% | $5,051 |
HOMETRUST MORTGAGE COMPANY | 1 | 7.13% | $7,771 |
Mortgage Research Center, LLC | 1 | 5.99% | $845 |
Mr. Cooper ( Nationstar Mortgage ) | 1 | 7.49% | $6,847 |
MUTUAL OF OMAHA MORTGAGE, INC. | 1 | 7.00% | $7,557 |
Northpointe Bank | 1 | 6.38% | $3,539 |
PENNYMAC LOAN SERVICES, LLC | 1 | 6.13% | $5,655 |
TJC Mortgage, Inc. | 1 | 7.50% | $3,351 |
ALLIANT CREDIT UNION | 1 | 7.13% | $3,066 |
U.S. Bank | 1 | 8.13% | $3,765 |
Bank of America | 1 | 7.63% | $5,480 |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 6.63% | $2,631 |
FIRST COMMUNITY MORTGAGE, INC. | 1 | 6.63% | $4,895 |
GUILD MORTGAGE COMPANY | 1 | 7.63% | $5,201 |
HOMESIDE FINANCIAL, LLC | 1 | 6.88% | $4,319 |
Selma Average Closing Costs & Other Stats
Selma, AL's 20 lenders originated 246
loans during 2023. The total origination value was $30,190,000, with an average loan value of
$122,724.
Selma's average closing costs are $4,493.
The top Selma lender as defined by loan originations is QUICKEN LOANS, LLC, with
10 loans originated. Their average total fees are
$5,465, which is $338
higher than the next largest lender,
Trustmark National Bank.
The lowest fee Selma lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($5,465), .
The lowest rate Selma lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.86%), .
Selma, AL 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 |
---|---|---|---|---|
Trustmark National Bank | $4,565,000 | $3,800,000 | -16.8% | 12.6% |
QUICKEN LOANS, LLC | $3,570,000 | $3,375,000 | -5.5% | 11.2% |
Marion Bank & Trust Company | $2,120,000 | n/a | 7.0% | |
UNITED WHOLESALE MORTGAGE, LLC | $1,570,000 | $1,660,000 | 5.7% | 5.5% |
Mortgage Research Center, LLC | $1,475,000 | $1,075,000 | -27.1% | 3.6% |
Hamilton Mortgage Corporation | $2,035,000 | $1,060,000 | -47.9% | 3.5% |
CROSSCOUNTRY MORTGAGE, LLC | $945,000 | $920,000 | -2.6% | 3.0% |
Regions Bank | $1,480,000 | $755,000 | -49.0% | 2.5% |
VANDERBILT MORTGAGE AND FINANCE, INC. | $540,000 | $725,000 | 34.3% | 2.4% |
GUILD MORTGAGE COMPANY | $540,000 | $660,000 | 22.2% | 2.2% |
TRIAD FINANCIAL SERVICES, INC. | $255,000 | $635,000 | 149.0% | 2.1% |
GMFS LLC | $620,000 | $615,000 | -0.8% | 2.0% |
NEW DAY FINANCIAL, LLC | $165,000 | $615,000 | 272.7% | 2.0% |
FirstBank | $675,000 | $610,000 | -9.6% | 2.0% |
21ST MORTGAGE CORPORATION | $750,000 | $585,000 | -22.0% | 1.9% |
MOVEMENT MORTGAGE, LLC | $370,000 | $450,000 | 21.6% | 1.5% |
Mr. Cooper ( Nationstar Mortgage ) | $390,000 | $445,000 | 14.1% | 1.5% |
Prosperity Home Mortgage, LLC | $445,000 | n/a | 1.5% | |
Consumer First Mortgage, Inc. | $440,000 | n/a | 1.5% | |
TJC Mortgage, Inc. | $405,000 | n/a | 1.3% | |
LOANDEPOT.COM, LLC | $980,000 | $395,000 | -59.7% | 1.3% |
HOMESIDE FINANCIAL, LLC | $370,000 | n/a | 1.2% | |
PNC Bank | $460,000 | $360,000 | -21.7% | 1.2% |
Renasant Bank | $160,000 | $295,000 | 84.4% | 1.0% |
BankFirst Financial Services | $285,000 | n/a | 0.9% | |
AMERICAN FINANCIAL NETWORK, INC. | $280,000 | n/a | 0.9% | |
MUTUAL OF OMAHA MORTGAGE, INC. | $265,000 | n/a | 0.9% | |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $870,000 | $260,000 | -70.1% | 0.9% |
NAVY FEDERAL CREDIT UNION | $130,000 | $260,000 | 100.0% | 0.9% |
CMG MORTGAGE, INC. | $2,905,000 | $255,000 | -91.2% | 0.8% |
Cornerstone First Mortgage, Inc | $255,000 | n/a | 0.8% | |
Truist | $255,000 | n/a | 0.8% | |
ALLIANT CREDIT UNION | $245,000 | n/a | 0.8% | |
CORNERSTONE HOME LENDING, INC. | $235,000 | n/a | 0.8% | |
MORTGAGE INVESTORS GROUP, INC. | $235,000 | n/a | 0.8% | |
CIS Financial Services, Inc. | $230,000 | n/a | 0.8% | |
HOMETRUST MORTGAGE COMPANY | $225,000 | n/a | 0.7% | |
STOCKTON MORTGAGE CORPORATION | $220,000 | n/a | 0.7% | |
LAKEVIEW LOAN SERVICING, LLC | $185,000 | $205,000 | 10.8% | 0.7% |
SOUTHWEST STAGE FUNDING, LLC | $205,000 | n/a | 0.7% | |
Guardian Credit Union | $245,000 | $190,000 | -22.4% | 0.6% |
FIRST COMMUNITY MORTGAGE, INC. | $165,000 | n/a | 0.5% | |
LIMA ONE CAPITAL, LLC | $190,000 | $160,000 | -15.8% | 0.5% |
Community Bank of Mississippi | $150,000 | $155,000 | 3.3% | 0.5% |
SouthPoint Bank | $100,000 | $140,000 | 40.0% | 0.5% |
NATIONWIDE MORTGAGE BANKERS, INC. | $135,000 | n/a | 0.4% | |
River Bank & Trust | $115,000 | $125,000 | 8.7% | 0.4% |
ALABAMA STATE EMPLOYEES CREDIT UNION | $535,000 | $120,000 | -77.6% | 0.4% |
Northpointe Bank | $275,000 | $120,000 | -56.4% | 0.4% |
ROYAL UNITED MORTGAGE LLC | $160,000 | $120,000 | -25.0% | 0.4% |
CSL Financial, LLC | $135,000 | $115,000 | -14.8% | 0.4% |
BETTER MORTGAGE CORPORATION | $185,000 | $105,000 | -43.2% | 0.3% |
MORIA DEVELOPMENT, INC. | $105,000 | n/a | 0.3% | |
MORTGAGE SOLUTIONS OF COLORADO, LLC | $105,000 | n/a | 0.3% | |
Bank of America | $125,000 | $95,000 | -24.0% | 0.3% |
Mutual Savings Credit Union | $890,000 | $85,000 | -90.4% | 0.3% |
PENNYMAC LOAN SERVICES, LLC | $155,000 | $75,000 | -51.6% | 0.2% |
First Community Bank of Central Alabama | $65,000 | n/a | 0.2% | |
FINANCE OF AMERICA REVERSE LLC | $55,000 | n/a | 0.2% | |
First Financial Bank | $55,000 | n/a | 0.2% | |
GUARANTEED RATE, INC. | $55,000 | n/a | 0.2% | |
U.S. Bank | $35,000 | $55,000 | 57.1% | 0.2% |
ACIPCO Federal Credit Union | $45,000 | n/a | 0.1% | |
Citizens Bank | $65,000 | $25,000 | -61.5% | 0.1% |
Figure Lending LLC | $25,000 | n/a | 0.1% | |
Alabama One Credit Union | $225,000 | $15,000 | -93.3% | 0.0% |
Coastal Community Bank | $15,000 | n/a | 0.0% |
Selma's top lender by overall market share is Trustmark National Bank, with 12.6% market share. In second place, with 11.2%, is QUICKEN LOANS, LLC, having originated $3,375,000 in loans. In third place, with 7.0%, is Marion Bank & Trust Company, having originated $2,120,000 in loans. In fourth place, with 5.5%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $1,660,000 in loans. In fifth place, with 3.6%, is Mortgage Research Center, LLC, having originated $1,075,000 in loans.
Selma Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Selma (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $87,875 (-10.5%) | $123,967 (-8.0%) | 0.00 | 194 |
2018-02-01 | $87,500 (-12.3%) | $119,418 (-14.8%) | 0.00 | 202 |
2018-03-01 | $87,250 (-5.0%) | $119,007 (-12.0%) | 0.00 | 208 |
2018-04-01 | $87,500 (-2.7%) | $120,503 (-5.5%) | 0.00 | 215 |
2018-05-01 | $87,500 (-7.2%) | $123,107 (-6.9%) | 0.00 | 214 |
2018-06-01 | $87,250 (-10.7%) | $123,901 (-8.7%) | 0.00 | 204 |
2018-07-01 | $86,700 (-12.6%) | $124,665 (-6.5%) | 0.00 | 205 |
2018-08-01 | $86,700 (-3.7%) | $125,392 (-0.8%) | 0.00 | 201 |
2018-09-01 | $89,450 (-0.6%) | $126,830 (-1.0%) | 0.00 | 198 |
2018-10-01 | $89,975 (-5.3%) | $131,519 (0.2%) | 0.00 | 188 |
2018-11-01 | $90,000 (-5.3%) | $126,535 (-4.3%) | 0.00 | 188 |
2018-12-01 | $90,450 (-0.6%) | $122,688 (-5.4%) | 0.00 | 183 |
2019-01-01 | $90,875 (3.4%) | $120,513 (-2.8%) | 0.00 | 177 |
2019-02-01 | $98,000 (12.0%) | $124,335 (4.1%) | 0.00 | 187 |
2019-03-01 | $102,429 (17.4%) | $128,461 (7.9%) | 0.00 | 184 |
2019-04-01 | $106,429 (21.6%) | $130,191 (8.0%) | 0.00 | 178 |
2019-05-01 | $103,750 (18.6%) | $135,421 (10.0%) | 0.00 | 170 |
2019-06-01 | $99,000 (13.5%) | $135,185 (9.1%) | 0.00 | 173 |
2019-07-01 | $99,000 (14.2%) | $136,562 (9.5%) | 0.00 | 179 |
2019-08-01 | $99,182 (14.4%) | $134,911 (7.6%) | 0.00 | 176 |
2019-09-01 | $99,080 (10.8%) | $132,715 (4.6%) | 0.00 | 176 |
2019-10-01 | $99,000 (10.0%) | $131,007 (-0.4%) | 0.00 | 175 |
2019-11-01 | $98,000 (8.9%) | $129,262 (2.2%) | 0.00 | 178 |
2019-12-01 | $96,250 (6.4%) | $123,820 (0.9%) | 0.00 | 184 |
2020-01-01 | $95,000 (4.5%) | $120,157 (-0.3%) | 0.00 | 171 |
2020-02-01 | $91,750 (-6.4%) | $116,430 (-6.4%) | 0.00 | 163 |
2020-03-01 | $90,375 (-11.8%) | $114,248 (-11.1%) | 0.00 | 163 |
2020-04-01 | $89,000 (-16.4%) | $113,623 (-12.7%) | 0.00 | 154 |
2020-05-01 | $89,000 (-14.2%) | $117,012 (-13.6%) | 0.00 | 150 |
2020-06-01 | $90,000 (-9.1%) | $117,242 (-13.3%) | 0.00 | 146 |
2020-07-01 | $92,100 (-7.0%) | $123,733 (-9.4%) | 0.00 | 130 |
2020-08-01 | $94,200 (-5.0%) | $126,763 (-6.0%) | 0.00 | 119 |
2020-09-01 | $98,250 (-0.8%) | $127,912 (-3.6%) | 0.00 | 121 |
2020-10-01 | $99,500 (0.5%) | $133,529 (1.9%) | 0.00 | 124 |
2020-11-01 | $95,625 (-2.4%) | $127,029 (-1.7%) | 0.00 | 118 |
2020-12-01 | $95,000 (-1.3%) | $128,376 (3.7%) | 0.00 | 105 |
2021-01-01 | $90,000 (-5.3%) | $125,985 (4.9%) | 0.00 | 97 |
2021-02-01 | $94,875 (3.4%) | $126,460 (8.6%) | 0.00 | 97 |
2021-03-01 | $100,750 (11.5%) | $126,545 (10.8%) | 0.00 | 86 |
2021-04-01 | $118,975 (33.7%) | $136,129 (19.8%) | 0.00 | 73 |
2021-05-01 | $118,900 (33.6%) | $136,876 (17.0%) | 0.00 | 80 |
2021-06-01 | $87,425 (-2.9%) | $133,934 (14.2%) | 0.00 | 88 |
2021-07-01 | $99,900 (8.5%) | $141,330 (14.2%) | 0.00 | 82 |
2021-08-01 | $94,925 (0.8%) | $127,760 (0.8%) | 0.00 | 90 |
2021-09-01 | $91,150 (-7.2%) | $127,654 (-0.2%) | 0.00 | 93 |
2021-10-01 | $85,000 (-14.6%) | $117,934 (-11.7%) | 0.00 | 88 |
2021-11-01 | $80,625 (-15.7%) | $112,681 (-11.3%) | 0.00 | 82 |
2021-12-01 | $76,150 (-19.8%) | $101,985 (-20.6%) | 0.00 | 81 |
2022-01-01 | $66,750 (-25.8%) | $106,583 (-15.4%) | 0.00 | 73 |
2022-02-01 | $70,900 (-25.3%) | $115,780 (-8.5%) | 0.00 | 69 |
2022-03-01 | $87,750 (-12.9%) | $124,962 (-1.3%) | 0.00 | 63 |
2022-04-01 | $80,000 (-32.8%) | $123,871 (-9.0%) | 0.00 | 64 |
2022-05-01 | $79,950 (-32.8%) | $128,004 (-6.5%) | 0.00 | 63 |
2022-06-01 | $87,500 (0.1%) | $130,038 (-2.9%) | 0.00 | 61 |
2022-07-01 | $80,000 (-19.9%) | $124,520 (-11.9%) | 0.00 | 70 |
2022-08-01 | $80,000 (-15.7%) | $115,006 (-10.0%) | 0.00 | 79 |
2022-09-01 | $77,450 (-15.0%) | $105,785 (-17.1%) | 0.00 | 84 |
2022-10-01 | $79,900 (-6.0%) | $105,318 (-10.7%) | 0.00 | 76 |
2022-11-01 | $80,000 (-0.8%) | $108,878 (-3.4%) | 0.00 | 73 |
2022-12-01 | $80,000 (5.1%) | $124,582 (22.2%) | 0.00 | 75 |
2023-01-01 | $95,475 (43.0%) | $138,747 (30.2%) | 0.00 | 65 |
2023-02-01 | $71,925 (1.5%) | $125,797 (8.7%) | 0.00 | 60 |
2023-03-01 | $74,375 (-15.2%) | $130,024 (4.1%) | 0.00 | 66 |
2023-04-01 | $75,500 (-5.6%) | $140,482 (13.4%) | 0.00 | 67 |
2023-05-01 | $71,500 (-10.6%) | $126,583 (-1.1%) | 0.00 | 70 |
2023-06-01 | $79,975 (-8.6%) | $128,107 (-1.5%) | 0.00 | 71 |
2023-07-01 | $79,900 (-0.1%) | $117,350 (-5.8%) | 0.00 | 68 |
2023-08-01 | $90,950 (13.7%) | $122,887 (6.9%) | 0.00 | 72 |
2023-09-01 | $84,200 (8.7%) | $130,005 (22.9%) | 0.00 | 75 |
2023-10-01 | $83,975 (5.1%) | $143,030 (35.8%) | 0.00 | 84 |
2023-11-01 | $82,500 (3.1%) | $148,415 (36.3%) | 0.00 | 84 |
2023-12-01 | $77,000 (-3.8%) | $140,958 (13.1%) | 0.00 | 88 |
2024-01-01 | $77,750 (-18.6%) | $132,638 (-4.4%) | 0.00 | 91 |
2024-02-01 | $80,075 (11.3%) | $141,823 (12.7%) | 0.00 | 82 |
2024-03-01 | $81,750 (9.9%) | $214,039 (64.6%) | 0.00 | 80 |
2024-04-01 | $77,225 (2.3%) | $142,033 (1.1%) | 0.00 | 84 |
2024-05-01 | $74,450 (4.1%) | $136,290 (7.7%) | 0.00 | 80 |
2024-06-01 | $83,750 (4.7%) | $147,491 (15.1%) | 0.00 | 85 |
2024-07-01 | $107,250 (34.2%) | $146,367 (24.7%) | 0.00 | 100 |
2024-08-01 | $115,000 (26.4%) | $150,460 (22.4%) | 0.00 | 101 |
2024-09-01 | $102,475 (21.7%) | $140,850 (8.3%) | 0.00 | 102 |
2024-10-01 | $95,250 (13.4%) | $151,053 (5.6%) | 0.00 | 105 |
Selma's median listing price comes in at 0% of the national average.
Selma's average listing price for 2024-10-01 was $151,053, a difference of $8,023 (5.6%) versus the prior year and $10,203 versus the prior month.
For the 2024-10-01 period, Selma had 105 MLS listings, a difference of 3 listings (3%) versus the prior month and 21 listings (25%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Selma (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,800 sqft |
2018-02-01 | 0 days | 1,765 sqft |
2018-03-01 | 0 days | 1,754 sqft |
2018-04-01 | 0 days | 1,798 sqft |
2018-05-01 | 0 days | 1,807 sqft |
2018-06-01 | 0 days | 1,776 sqft |
2018-07-01 | 0 days | 1,756 sqft |
2018-08-01 | 0 days | 1,807 sqft |
2018-09-01 | 0 days | 1,807 sqft |
2018-10-01 | 0 days | 1,872 sqft |
2018-11-01 | 0 days | 1,837 sqft |
2018-12-01 | 0 days | 1,840 sqft |
2019-01-01 | 0 days | 1,857 sqft |
2019-02-01 | 0 days | 1,879 sqft |
2019-03-01 | 0 days | 1,869 sqft |
2019-04-01 | 0 days | 1,862 sqft |
2019-05-01 | 0 days | 1,904 sqft |
2019-06-01 | 0 days | 1,906 sqft |
2019-07-01 | 0 days | 1,865 sqft |
2019-08-01 | 0 days | 1,893 sqft |
2019-09-01 | 0 days | 1,880 sqft |
2019-10-01 | 0 days | 1,871 sqft |
2019-11-01 | 0 days | 1,857 sqft |
2019-12-01 | 0 days | 1,837 sqft |
2020-01-01 | 0 days | 1,820 sqft |
2020-02-01 | 0 days | 1,796 sqft |
2020-03-01 | 0 days | 1,745 sqft |
2020-04-01 | 0 days | 1,780 sqft |
2020-05-01 | 0 days | 1,845 sqft |
2020-06-01 | 0 days | 1,814 sqft |
2020-07-01 | 0 days | 1,916 sqft |
2020-08-01 | 0 days | 1,916 sqft |
2020-09-01 | 0 days | 1,922 sqft |
2020-10-01 | 0 days | 1,964 sqft |
2020-11-01 | 0 days | 1,916 sqft |
2020-12-01 | 0 days | 1,903 sqft |
2021-01-01 | 0 days | 1,891 sqft |
2021-02-01 | 0 days | 1,828 sqft |
2021-03-01 | 0 days | 1,863 sqft |
2021-04-01 | 0 days | 1,875 sqft |
2021-05-01 | 0 days | 1,861 sqft |
2021-06-01 | 0 days | 1,859 sqft |
2021-07-01 | 0 days | 1,881 sqft |
2021-08-01 | 0 days | 1,868 sqft |
2021-09-01 | 0 days | 1,885 sqft |
2021-10-01 | 0 days | 1,869 sqft |
2021-11-01 | 0 days | 1,850 sqft |
2021-12-01 | 0 days | 1,824 sqft |
2022-01-01 | 0 days | 1,840 sqft |
2022-02-01 | 0 days | 1,824 sqft |
2022-03-01 | 0 days | 1,791 sqft |
2022-04-01 | 0 days | 1,868 sqft |
2022-05-01 | 0 days | 1,764 sqft |
2022-06-01 | 0 days | 1,758 sqft |
2022-07-01 | 0 days | 1,728 sqft |
2022-08-01 | 0 days | 1,730 sqft |
2022-09-01 | 0 days | 1,648 sqft |
2022-10-01 | 0 days | 1,524 sqft |
2022-11-01 | 0 days | 1,586 sqft |
2022-12-01 | 0 days | 1,633 sqft |
2023-01-01 | 0 days | 1,708 sqft |
2023-02-01 | 0 days | 1,669 sqft |
2023-03-01 | 0 days | 1,655 sqft |
2023-04-01 | 0 days | 1,682 sqft |
2023-05-01 | 0 days | 1,711 sqft |
2023-06-01 | 0 days | 1,759 sqft |
2023-07-01 | 0 days | 1,715 sqft |
2023-08-01 | 0 days | 1,760 sqft |
2023-09-01 | 0 days | 1,715 sqft |
2023-10-01 | 0 days | 1,694 sqft |
2023-11-01 | 0 days | 1,700 sqft |
2023-12-01 | 0 days | 1,663 sqft |
2024-01-01 | 0 days | 1,617 sqft |
2024-02-01 | 0 days | 1,649 sqft |
2024-03-01 | 0 days | 1,715 sqft |
2024-04-01 | 0 days | 1,681 sqft |
2024-05-01 | 0 days | 1,669 sqft |
2024-06-01 | 0 days | 1,708 sqft |
2024-07-01 | 0 days | 1,688 sqft |
2024-08-01 | 0 days | 1,700 sqft |
2024-09-01 | 0 days | 1,755 sqft |
2024-10-01 | 0 days | 1,700 sqft |
Selma's median square footage for active listings during the 2024-10-01 period was 1,700 sqft. One year prior, the average listing was 1,694 sqft.
Selma, AL Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 143 | $20,175,000 | $141,084 |
Cash Out Refi | 35 | $4,835,000 | $138,143 |
Refi | 34 | $3,130,000 | $92,059 |
Other | 21 | $1,555,000 | $74,048 |
Home Improvement | 13 | $495,000 | $38,077 |
Selma's most frequently cited loan purpose was Home Purchase, with 143 originations. The 2nd most popular reason was Cash Out Refi, with 35 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
7-8% | 67 | $9,315,000 | $139,030 |
6-7% | 66 | $9,540,000 | $144,545 |
Over 8% | 60 | $4,810,000 | $80,167 |
5-6% | 19 | $3,125,000 | $164,474 |
4-5% | 2 | $220,000 | $110,000 |
<2.5% | 1 | $5,000 | $5,000 |
During 2023, Selma's most frequently originated rate bucket was 7-8%, with 67 originations.
Loan Sizing (Selma, AL MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100,000 or less | 118 | $6,620,000 | $56,102 |
$100k-200k | 87 | $12,475,000 | $143,391 |
$200k-400k | 39 | $9,935,000 | $254,744 |
$400k-600k | 1 | $535,000 | $535,000 |
$600k-1000k | 1 | $625,000 | $625,000 |
Selma's loan sizing saw the bucket of loans from $100,000 or less with 118 originations, totaling $6,620,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 129 | $19,705,000 | $152,752 |
20-40% | 25 | $1,805,000 | $72,200 |
60-80% | 24 | $2,740,000 | $114,167 |
40-60% | 20 | $1,860,000 | $93,000 |
Under 20% | 13 | $315,000 | $24,231 |
Over 100% | 2 | $460,000 | $230,000 |
Selma's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 129 originations, totaling $19,705,000 in origination value.