Selma 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 Selma averaged 6.72% for the week of 2025-04-10, compared to the national average of 6.62% for the same period.

    The average rate for the prior week (2025-04-03) was 6.44% and one month ago for the week of 2025-03-06, the average rate was 6.73%.

    Selma's average rate one year ago was 6.72%.

    For refis of the same type during the week of 2025-04-10, the average rate was 6.92%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-04-10 6.62%
    Selma 30 Year Fixed Rate 2025-04-10 6.72%
    Selma 30 Year Fixed Rate Refi 2025-04-10 6.92%
    Selma 15 Year Fixed Rate 2025-04-10 5.62%
    Selma 15 Year Fixed Rate Refi 2025-04-10 6.02%
    Selma 30 Year FHA 2025-04-10 6.23%
    Selma 30 Year FHA Refi 2025-04-10 6.63%
    Selma 30 Year USDA 2025-04-10 6.55%
    Selma 30 Year USDA Refi 2025-04-10 6.45%
    Selma 30 Year VA 2025-04-10 6.19%
    Selma 30 Year VA Refi 2025-04-10 6.09%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Selma, AL.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    JPMorgan Chase Bank 5 6.83% $3,819
    Trustmark National Bank 4 6.50% $3,277
    QUICKEN LOANS, LLC 4 6.56% $5,991
    Bank of America 3 5.29% $798
    UNITED WHOLESALE MORTGAGE, LLC 3 7.16% $4,969
    GMFS LLC 2 6.81% $3,147
    Morgan Stanley Private Bank 2 7.23% $2,465
    South State Bank 2 7.38% $3,979
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.63% $3,880
    FIRST COMMUNITY MORTGAGE, INC. 2 7.18% $5,780
    NORWICH COMMERCIAL GROUP, INC. 1 8.13% $5,683
    Princeton Mortgage Corporation 1 6.63% $10,937
    Regions Bank 1 7.38% $4,147
    ServisFirst Bank 1 6.75% $6,252
    Synovus Bank 1 7.38% $5,176
    UNION HOME MORTGAGE CORP. 1 6.88% $9,883
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 8.25% $5,333
    Wells Fargo Bank 1 7.50% $3,670
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.88% $6,651
    ZILLOW HOME LOANS, LLC 1 7.50% $2,853
    BROKER SOLUTIONS, INC. 1 7.00% $4,030
    CHURCHILL MORTGAGE CORPORATION 1 6.63% $3,911
    CMG MORTGAGE, INC. 1 6.75% $3,649
    Discover Bank 1 8.46% $0
    FBC MORTGAGE, LLC 1 6.13% $8,936
    MAX Credit Union 1 6.50% $3,506
    Merchants Bank of Indiana 1 6.13% $5,656
    NAVY FEDERAL CREDIT UNION 1 6.88% $1,680
    NexBank 1 6.99% $5,401

    Selma Average Closing Costs & Other Stats

    Selma, AL's 29 lenders originated 255 loans during 2024. The total origination value was $37,915,000, with an average loan value of $148,686.

    Selma's average closing costs are $4,666.

    The top Selma lender as defined by loan originations is JPMorgan Chase Bank, with 5 loans originated. Their average total fees are $3,819, which is $542 higher than the next largest lender, Trustmark National Bank.

    The lowest fee Selma lenders (with over 10 loans originated) are .

    The lowest rate Selma lenders (with over 10 loans originated) are .

    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 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
    WALKER & DUNLOP, LLC $3,915,000 n/a 10.3%
    QUICKEN LOANS, LLC $3,375,000 $3,440,000 1.9% 9.1%
    Trustmark National Bank $3,800,000 $1,870,000 -50.8% 4.9%
    21ST MORTGAGE CORPORATION $585,000 $1,590,000 171.8% 4.2%
    CMG MORTGAGE, INC. $255,000 $1,385,000 443.1% 3.7%
    UNITED WHOLESALE MORTGAGE, LLC $1,660,000 $1,205,000 -27.4% 3.2%
    Hamilton Mortgage Corporation $1,060,000 $1,095,000 3.3% 2.9%
    Marion Bank & Trust Company $2,120,000 $1,015,000 -52.1% 2.7%
    ServisFirst Bank $1,015,000 n/a 2.7%
    FirstBank $610,000 $825,000 35.2% 2.2%
    Mortgage Research Center, LLC $1,075,000 $825,000 -23.3% 2.2%
    JPMorgan Chase Bank $765,000 n/a 2.0%
    VANDERBILT MORTGAGE AND FINANCE, INC. $725,000 $765,000 5.5% 2.0%
    UNION HOME MORTGAGE CORP. $685,000 n/a 1.8%
    CROSSCOUNTRY MORTGAGE, LLC $920,000 $670,000 -27.2% 1.8%
    FIRST COMMUNITY MORTGAGE, INC. $165,000 $625,000 278.8% 1.6%
    GMFS LLC $615,000 $605,000 -1.6% 1.6%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $260,000 $585,000 125.0% 1.5%
    NAVY FEDERAL CREDIT UNION $260,000 $565,000 117.3% 1.5%
    Bank of America $95,000 $530,000 457.9% 1.4%
    American Mortgage & Equity Consultants, Inc. $490,000 n/a 1.3%
    STOCKTON MORTGAGE CORPORATION $220,000 $470,000 113.6% 1.2%
    Regions Bank $755,000 $430,000 -43.0% 1.1%
    GUILD MORTGAGE COMPANY $660,000 $375,000 -43.2% 1.0%
    Morgan Stanley Private Bank $360,000 n/a 0.9%
    GUARANTEED RATE, INC. $55,000 $345,000 527.3% 0.9%
    BROKER SOLUTIONS, INC. $340,000 n/a 0.9%
    TJC Mortgage, Inc. $405,000 $340,000 -16.0% 0.9%
    PENNYMAC LOAN SERVICES, LLC $75,000 $315,000 320.0% 0.8%
    Princeton Mortgage Corporation $315,000 n/a 0.8%
    FBC MORTGAGE, LLC $305,000 n/a 0.8%
    Central State Bank $275,000 n/a 0.7%
    Consumer First Mortgage, Inc. $440,000 $270,000 -38.6% 0.7%
    Cornerstone First Mortgage, Inc $255,000 $270,000 5.9% 0.7%
    TRIAD FINANCIAL SERVICES, INC. $635,000 $265,000 -58.3% 0.7%
    ALABAMA STATE EMPLOYEES CREDIT UNION $120,000 $255,000 112.5% 0.7%
    MAX Credit Union $255,000 n/a 0.7%
    ZILLOW HOME LOANS, LLC $250,000 n/a 0.7%
    AMERICAN FINANCING CORPORATION $245,000 n/a 0.6%
    LAKEVIEW LOAN SERVICING, LLC $205,000 $235,000 14.6% 0.6%
    T2 FINANCIAL LLC $235,000 n/a 0.6%
    AMERISAVE MORTGAGE CORPORATION $215,000 n/a 0.6%
    Merchants Bank of Indiana $215,000 n/a 0.6%
    Northpointe Bank $120,000 $210,000 75.0% 0.6%
    NEW DAY FINANCIAL, LLC $615,000 $205,000 -66.7% 0.5%
    Mutual Savings Credit Union $85,000 $200,000 135.3% 0.5%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $195,000 n/a 0.5%
    Flagstar Bank, FSB $195,000 n/a 0.5%
    NexBank $195,000 n/a 0.5%
    CANOPY MORTGAGE, LLC $185,000 n/a 0.5%
    FREEDOM MORTGAGE CORPORATION $185,000 n/a 0.5%
    LIBERTY HOME MORTGAGE CORPORATION $185,000 n/a 0.5%
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $175,000 n/a 0.5%
    SouthPoint Bank $140,000 $170,000 21.4% 0.4%
    AmRes Corporation $155,000 n/a 0.4%
    South State Bank $155,000 n/a 0.4%
    VAN DYK MORTGAGE CORPORATION $145,000 n/a 0.4%
    VILLAGE CAPITAL MORTGAGE $135,000 n/a 0.4%
    AMWEST FUNDING CORP. $125,000 n/a 0.3%
    Discover Bank $120,000 n/a 0.3%
    LOANDEPOT.COM, LLC $395,000 $115,000 -70.9% 0.3%
    LIMA ONE CAPITAL, LLC $160,000 $95,000 -40.6% 0.3%
    Paramount Residential Mortgage Group, Inc. $95,000 n/a 0.3%
    Figure Lending LLC $25,000 $80,000 220.0% 0.2%
    CHURCHILL MORTGAGE CORPORATION $75,000 n/a 0.2%
    NORWICH COMMERCIAL GROUP, INC. $75,000 n/a 0.2%
    PNC Bank $360,000 $75,000 -79.2% 0.2%
    Synovus Bank $70,000 n/a 0.2%
    Guardian Credit Union $190,000 $55,000 -71.1% 0.1%
    Mr. Cooper ( Nationstar Mortgage ) $445,000 $55,000 -87.6% 0.1%
    AMERICA'S FIRST $35,000 n/a 0.1%
    NEWREZ LLC $35,000 n/a 0.1%
    Wells Fargo Bank $35,000 n/a 0.1%

    Selma's top lender by overall market share is WALKER & DUNLOP, LLC, with 10.3% market share. In second place, with 9.1%, is QUICKEN LOANS, LLC, having originated $3,440,000 in loans. In third place, with 4.9%, is Trustmark National Bank, having originated $1,870,000 in loans. In fourth place, with 4.2%, is 21ST MORTGAGE CORPORATION, having originated $1,590,000 in loans. In fifth place, with 3.7%, is CMG MORTGAGE, INC., having originated $1,385,000 in loans.

    Selma Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Selma (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date 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 $77,750 (-2.8%) $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%) $213,444 (64.2%) 0.00 80
    2024-04-01 $77,225 (-0.7%) $142,033 (1.1%) 0.00 84
    2024-05-01 $74,975 (4.9%) $136,626 (7.9%) 0.00 80
    2024-06-01 $89,250 (11.6%) $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
    2024-11-01 $105,000 (27.3%) $154,319 (4.0%) 0.00 107
    2024-12-01 $104,500 (35.7%) $154,752 (9.8%) 0.00 105
    2025-01-01 $113,675 (46.2%) $157,276 (18.6%) 0.00 100
    2025-02-01 $83,875 (4.8%) $138,251 (-2.5%) 0.00 109
    2025-03-01 $108,000 (32.1%) $149,944 (-29.8%) 0.00 104
    Selma's median listing price for 2025-03-01 was $108,000, a difference of $26,250 (32.1%) versus the prior year and $24,125 versus the prior month.

    Selma's median listing price comes in at 0% of the national average.

    Selma's average listing price for 2025-03-01 was $149,944, a difference of $-63,500 (-29.8%) versus the prior year and $11,693 versus the prior month.

    For the 2025-03-01 period, Selma had 104 MLS listings, a difference of -5 listings (-5%) versus the prior month and 24 listings (30%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Selma (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date 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 1,724 sqft
    2024-04-01 0 days 1,694 sqft
    2024-05-01 0 days 1,676 sqft
    2024-06-01 0 days 1,704 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
    2024-11-01 0 days 1,764 sqft
    2024-12-01 0 days 1,724 sqft
    2025-01-01 0 days 1,733 sqft
    2025-02-01 0 days 1,689 sqft
    2025-03-01 0 days 1,731 sqft
    Selma's median listing age (time on market) for 2025-03-01 was 0 days.

    Selma's median square footage for active listings during the 2025-03-01 period was 1,731 sqft. One year prior, the average listing was 1,724 sqft.

    Selma, AL Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 159 $24,045,000 $151,226
    Refi 33 $8,055,000 $244,091
    Other 25 $1,655,000 $66,200
    Cash Out Refi 25 $3,435,000 $137,400
    Home Improvement 13 $725,000 $55,769

    Selma's most frequently cited loan purpose was Home Purchase, with 159 originations. The 2nd most popular reason was Refi, with 33 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 92 $14,020,000 $152,391
    Over 8% 64 $5,590,000 $87,344
    7-8% 40 $5,790,000 $144,750
    5-6% 26 $7,510,000 $288,846
    4-5% 5 $545,000 $109,000
    <2.5% 3 $45,000 $15,000
    3-4% 1 $135,000 $135,000

    During 2024, Selma's most frequently originated rate bucket was 6-7%, with 92 originations.

    Loan Sizing (Selma, AL MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 116 $6,740,000 $58,103
    $100k-200k 98 $14,480,000 $147,755
    $200k-400k 35 $9,265,000 $264,714
    $400k-600k 3 $1,385,000 $461,667
    $Over $1MM 2 $5,320,000 $2,660,000
    $600k-1000k 1 $725,000 $725,000

    Selma's loan sizing saw the bucket of loans from $100,000 or less with 116 originations, totaling $6,740,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 139 $20,995,000 $151,043
    60-80% 28 $8,100,000 $289,286
    20-40% 24 $1,490,000 $62,083
    Under 20% 19 $425,000 $22,368
    40-60% 16 $1,440,000 $90,000
    Over 100% 5 $1,135,000 $227,000

    Selma's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 139 originations, totaling $20,995,000 in origination value.