Seneca Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Seneca averaged
6.95%
for the week of 2024-11-07, compared to the national average of
6.79% for the same period.
The average rate for the prior week (2024-10-31) was
6.48% and
one month ago for the week of 2024-10-03, the
average rate was 5.88%.
Seneca's average rate one year ago was 7.92%.
For refis of the same type during the week of 2024-11-07, the average rate
was 6.99%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Seneca 30 Year Fixed Rate | 2024-11-07 | 6.95% |
| Seneca 30 Year Fixed Rate Refi | 2024-11-07 | 6.99% |
| Seneca 15 Year Fixed Rate | 2024-11-07 | 6.2% |
| Seneca 15 Year Fixed Rate Refi | 2024-11-07 | 5.9% |
| Seneca 30 Year FHA | 2024-11-07 | 6.12% |
| Seneca 30 Year FHA Refi | 2024-11-07 | 6.23% |
| Seneca 30 Year USDA | 2024-11-07 | 6.28% |
| Seneca 30 Year USDA Refi | 2024-11-07 | 6.28% |
| Seneca 30 Year VA | 2024-11-07 | 5.97% |
| Seneca 30 Year VA Refi | 2024-11-07 | 6.44% |
Seneca 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 Seneca, SC 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.).
Seneca Average Closing Costs & Other Stats
Seneca, SC's 133 lenders originated 1,499
loans during 2023. The total origination value was $450,385,000, with an average loan value of
$300,457.
Seneca's average closing costs are $5,290.
The top Seneca lender as defined by loan originations is South State Bank, with
44 loans originated. Their average total fees are
$7,978, which is $1,199
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Seneca lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. ($3,220), Wells Fargo Bank ($3,335), NVR Mortgage Finance, Inc. ($4,606), ON Q FINANCIAL, INC. ($4,612) and Community First Bank, Inc. ($4,621).
The lowest rate Seneca lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.18%), NVR Mortgage Finance, Inc. (5.96%), First-Citizens Bank & Trust Company (6.14%), BANKSOUTH MORTGAGE COMPANY, LLC (6.45%) and FBC MORTGAGE, LLC (6.51%).
Seneca, SC 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 |
|---|---|---|---|---|
| South State Bank | $76,695,000 | $38,830,000 | -49.4% | 8.6% |
| QUICKEN LOANS, LLC | $35,275,000 | $19,785,000 | -43.9% | 4.4% |
| First-Citizens Bank & Trust Company | $19,450,000 | $18,455,000 | -5.1% | 4.1% |
| ON Q FINANCIAL, INC. | $42,255,000 | $14,905,000 | -64.7% | 3.3% |
| Bank of America | $12,145,000 | $14,710,000 | 21.1% | 3.3% |
| LIMA ONE CAPITAL, LLC | $830,000 | $11,275,000 | 1,258.4% | 2.5% |
| UNITED WHOLESALE MORTGAGE, LLC | $12,900,000 | $11,125,000 | -13.8% | 2.5% |
| TD Bank | $15,860,000 | $8,560,000 | -46.0% | 1.9% |
| JPMorgan Chase Bank | $5,215,000 | $8,520,000 | 63.4% | 1.9% |
| S. C. STATE FEDERAL CREDIT UNION | $8,735,000 | $8,345,000 | -4.5% | 1.9% |
| Synovus Bank | $10,130,000 | $8,255,000 | -18.5% | 1.8% |
| BANKSOUTH MORTGAGE COMPANY, LLC | $14,060,000 | $7,600,000 | -45.9% | 1.7% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $11,425,000 | $7,600,000 | -33.5% | 1.7% |
| NVR Mortgage Finance, Inc. | $1,565,000 | $7,225,000 | 361.7% | 1.6% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $3,560,000 | $7,040,000 | 97.8% | 1.6% |
| FBC MORTGAGE, LLC | $1,900,000 | $6,665,000 | 250.8% | 1.5% |
| Mortgage Research Center, LLC | $8,750,000 | $6,480,000 | -25.9% | 1.4% |
| UNION HOME MORTGAGE CORP. | $1,870,000 | $6,325,000 | 238.2% | 1.4% |
| Truist | $8,560,000 | $6,260,000 | -26.9% | 1.4% |
| Truliant Federal Credit Union | $1,035,000 | $6,220,000 | 501.0% | 1.4% |
| Ameris Bank | $6,410,000 | $5,480,000 | -14.5% | 1.2% |
| MOVEMENT MORTGAGE, LLC | $5,695,000 | $4,885,000 | -14.2% | 1.1% |
| United Community Bank | $10,185,000 | $4,740,000 | -53.5% | 1.1% |
| Community First Bank, Inc. | $12,940,000 | $4,425,000 | -65.8% | 1.0% |
| BankSouth | $105,000 | $4,230,000 | 3,928.6% | 0.9% |
| Southern First Bank | $15,900,000 | $4,195,000 | -73.6% | 0.9% |
| Wells Fargo Bank | $15,425,000 | $3,955,000 | -74.4% | 0.9% |
| AgFirst Farm Credit Bank | $6,390,000 | $3,865,000 | -39.5% | 0.9% |
| Charles Schwab Bank, SSB | $5,190,000 | $3,705,000 | -28.6% | 0.8% |
| CROSSCOUNTRY MORTGAGE, LLC | $5,340,000 | $3,660,000 | -31.5% | 0.8% |
| NAVY FEDERAL CREDIT UNION | $4,800,000 | $3,575,000 | -25.5% | 0.8% |
| DHI MORTGAGE COMPANY, LTD. | $2,820,000 | $3,495,000 | 23.9% | 0.8% |
| CARDINAL FINANCIAL | $5,360,000 | $3,295,000 | -38.5% | 0.7% |
| Morgan Stanley Private Bank | $4,340,000 | $3,295,000 | -24.1% | 0.7% |
| First Palmetto Bank | $7,560,000 | $3,225,000 | -57.3% | 0.7% |
| U.S. Bank | $7,595,000 | $3,225,000 | -57.5% | 0.7% |
| 21ST MORTGAGE CORPORATION | $2,490,000 | $3,095,000 | 24.3% | 0.7% |
| PENNYMAC LOAN SERVICES, LLC | $5,230,000 | $3,060,000 | -41.5% | 0.7% |
| SOUTH CAROLINA FEDERAL CREDIT UNION | $760,000 | $3,020,000 | 297.4% | 0.7% |
| UBS Bank USA | $2,310,000 | $2,995,000 | 29.7% | 0.7% |
| First Community Bank | $435,000 | $2,755,000 | 533.3% | 0.6% |
| FineMark National Bank & Trust | $2,645,000 | n/a | 0.6% | |
| ACOPIA, LLC | $1,235,000 | $2,570,000 | 108.1% | 0.6% |
| First Piedmont Federal Savings and Loan Association of Gaffney | $605,000 | $2,335,000 | 286.0% | 0.5% |
| EMBRACE HOME LOANS, INC. | $1,720,000 | $2,220,000 | 29.1% | 0.5% |
| USAA Federal Savings Bank | $910,000 | $2,200,000 | 141.8% | 0.5% |
| FREEDOM MORTGAGE CORPORATION | $4,005,000 | $2,075,000 | -48.2% | 0.5% |
| S. C. TELCO | $6,005,000 | $2,040,000 | -66.0% | 0.5% |
| PNC Bank | $3,180,000 | $2,025,000 | -36.3% | 0.4% |
| The Park National Bank | $3,410,000 | $2,025,000 | -40.6% | 0.4% |
| United Bank | $95,000 | $1,990,000 | 1,994.7% | 0.4% |
| BROKER SOLUTIONS, INC. | $2,400,000 | $1,905,000 | -20.6% | 0.4% |
| HOWARD HANNA FINANCIAL SERVICES, INC. | $1,810,000 | n/a | 0.4% | |
| GUARANTEED RATE, INC. | $2,700,000 | $1,690,000 | -37.4% | 0.4% |
| CMG MORTGAGE, INC. | $4,360,000 | $1,680,000 | -61.5% | 0.4% |
| NEWREZ LLC | $1,090,000 | $1,675,000 | 53.7% | 0.4% |
| Regions Bank | $2,765,000 | $1,670,000 | -39.6% | 0.4% |
| First Bank | $1,450,000 | $1,605,000 | 10.7% | 0.4% |
| The Dart Bank | $1,605,000 | n/a | 0.4% | |
| Bank of Travelers Rest | $1,750,000 | $1,560,000 | -10.9% | 0.3% |
| First National Bank of Pennsylvania | $1,005,000 | $1,560,000 | 55.2% | 0.3% |
| FINANCE OF AMERICA REVERSE LLC | $920,000 | $1,490,000 | 62.0% | 0.3% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $2,825,000 | $1,490,000 | -47.3% | 0.3% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $580,000 | $1,465,000 | 152.6% | 0.3% |
| Mr. Cooper ( Nationstar Mortgage ) | $3,410,000 | $1,440,000 | -57.8% | 0.3% |
| LOANDEPOT.COM, LLC | $12,205,000 | $1,365,000 | -88.8% | 0.3% |
| HomeTrust Bank | $1,710,000 | $1,345,000 | -21.3% | 0.3% |
| The Federal Savings Bank | $1,320,000 | n/a | 0.3% | |
| LENDINGHOME FUNDING CORPORATION | $615,000 | $1,310,000 | 113.0% | 0.3% |
| STATE EMPLOYEES' | $3,370,000 | $1,280,000 | -62.0% | 0.3% |
| PENTAGON FEDERAL CREDIT UNION | $200,000 | $1,275,000 | 537.5% | 0.3% |
| TOWNE MORTGAGE COMPANY | $2,285,000 | $1,275,000 | -44.2% | 0.3% |
| FOUNDERS FEDERAL CREDIT UNION | $2,545,000 | $1,215,000 | -52.3% | 0.3% |
| INSPIRE HOME LOANS INC. | $510,000 | $1,215,000 | 138.2% | 0.3% |
| FIRST COMMUNITY MORTGAGE, INC. | $1,160,000 | n/a | 0.3% | |
| ZILLOW HOME LOANS, LLC | $1,150,000 | n/a | 0.3% | |
| GSF Mortgage Corporation | $1,125,000 | n/a | 0.2% | |
| Renasant Bank | $3,740,000 | $1,110,000 | -70.3% | 0.2% |
| TOTAL MORTGAGE SERVICES, LLC | $235,000 | $1,085,000 | 361.7% | 0.2% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $1,555,000 | $1,045,000 | -32.8% | 0.2% |
| Union Savings Bank | $1,045,000 | n/a | 0.2% | |
| Citizens Bank | $1,815,000 | $1,035,000 | -43.0% | 0.2% |
| Prosperity Home Mortgage, LLC | $125,000 | $985,000 | 688.0% | 0.2% |
| CRESCENT MORTGAGE COMPANY | $355,000 | $960,000 | 170.4% | 0.2% |
| TRIAD FINANCIAL SERVICES, INC. | $170,000 | $930,000 | 447.1% | 0.2% |
| First Horizon Bank | $2,145,000 | $905,000 | -57.8% | 0.2% |
| Lake Forest Bank & Trust | $905,000 | n/a | 0.2% | |
| HOMESTAR FINANCIAL CORPORATION | $11,005,000 | $900,000 | -91.8% | 0.2% |
| CPM Federal Credit Union | $290,000 | $895,000 | 208.6% | 0.2% |
| Northpointe Bank | $3,045,000 | $860,000 | -71.8% | 0.2% |
| LOCAL GOVERNMENT FEDERAL CREDIT UNION | $850,000 | n/a | 0.2% | |
| BMO Harris Bank | $845,000 | n/a | 0.2% | |
| Blue Ridge Bank | $1,315,000 | $815,000 | -38.0% | 0.2% |
| Cornerstone First Mortgage, Inc | $810,000 | n/a | 0.2% | |
| Mountain Commerce Bank | $785,000 | n/a | 0.2% | |
| NexBank | $780,000 | n/a | 0.2% | |
| Countybank | $965,000 | $745,000 | -22.8% | 0.2% |
| EMERY FEDERAL CREDIT UNION | $725,000 | n/a | 0.2% | |
| PLAZA HOME MORTGAGE, INC. | $630,000 | $720,000 | 14.3% | 0.2% |
| BM Real Estate Services, Inc. | $715,000 | n/a | 0.2% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $715,000 | n/a | 0.2% | |
| NFM, INC. | $275,000 | $710,000 | 158.2% | 0.2% |
| FINANCIAL RESOURCES FEDERAL CREDIT UNION | $380,000 | $705,000 | 85.5% | 0.2% |
| Northwest Federal Credit Union | $455,000 | $705,000 | 54.9% | 0.2% |
| NP, Inc. | $705,000 | n/a | 0.2% | |
| American Mortgage & Equity Consultants, Inc. | $695,000 | n/a | 0.2% | |
| Oconee State Bank | $695,000 | n/a | 0.2% | |
| Waterstone Mortgage Corporation | $575,000 | $690,000 | 20.0% | 0.2% |
| Commerce Home Mortgage, Inc. | $675,000 | n/a | 0.1% | |
| Kwik Mortgage Corporation | $675,000 | n/a | 0.1% | |
| RELIANCE FIRST CAPITAL, LLC | $1,605,000 | $670,000 | -58.3% | 0.1% |
| The Central Trust Bank | $1,410,000 | $665,000 | -52.8% | 0.1% |
| 1ST SIGNATURE LENDING, LLC | $420,000 | $655,000 | 56.0% | 0.1% |
| GREENVILLE FEDERAL CREDIT UNION | $310,000 | $655,000 | 111.3% | 0.1% |
| KELLER MORTGAGE, LLC | $1,360,000 | $655,000 | -51.8% | 0.1% |
| Arvest Bank | $635,000 | $595,000 | -6.3% | 0.1% |
| NEW DAY FINANCIAL, LLC | $2,020,000 | $585,000 | -71.0% | 0.1% |
| PLANET HOME LENDING, LLC | $345,000 | $580,000 | 68.1% | 0.1% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $1,070,000 | $565,000 | -47.2% | 0.1% |
| Fifth Third Bank | $2,845,000 | $560,000 | -80.3% | 0.1% |
| Flagstar Bank, FSB | $2,310,000 | $560,000 | -75.8% | 0.1% |
| AMERICAN FINANCIAL NETWORK, INC. | $555,000 | n/a | 0.1% | |
| Carrington Mortgage Services, LLC | $1,265,000 | $545,000 | -56.9% | 0.1% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $585,000 | $535,000 | -8.5% | 0.1% |
| GUILD MORTGAGE COMPANY | $2,665,000 | $530,000 | -80.1% | 0.1% |
| Stifel Bank and Trust | $245,000 | $505,000 | 106.1% | 0.1% |
| NBKC BANK | $1,045,000 | $495,000 | -52.6% | 0.1% |
| Discover Bank | $710,000 | $480,000 | -32.4% | 0.1% |
| American Security Mortgage Corp. | $205,000 | $475,000 | 131.7% | 0.1% |
| First Reliance Bank | $2,640,000 | $470,000 | -82.2% | 0.1% |
| George Mason Mortgage, LLC | $255,000 | $455,000 | 78.4% | 0.1% |
| Woodruff Federal Savings and Loan Association | $455,000 | n/a | 0.1% | |
| Bethpage Federal Credit Union | $450,000 | n/a | 0.1% | |
| Raymond James Bank | $335,000 | $445,000 | 32.8% | 0.1% |
| SOUTHWEST STAGE FUNDING, LLC | $470,000 | $445,000 | -5.3% | 0.1% |
| FIRST TECHNOLOGY | $435,000 | n/a | 0.1% | |
| RAPID MORTGAGE COMPANY | $435,000 | n/a | 0.1% | |
| HOMEXPRESS MORTGAGE CORP. | $425,000 | n/a | 0.1% | |
| Equity Prime Mortgage LLC | $175,000 | $420,000 | 140.0% | 0.1% |
| NTFN, INC. | $415,000 | n/a | 0.1% | |
| COUNTRYPLACE MORTGAGE, LTD. | $1,020,000 | $410,000 | -59.8% | 0.1% |
| SeaTrust Mortgage Company | $1,050,000 | $410,000 | -61.0% | 0.1% |
| AMERICAN HERITAGE LENDING, INC. | $385,000 | n/a | 0.1% | |
| CIBM Bank | $385,000 | n/a | 0.1% | |
| LONGBRIDGE FINANCIAL, LLC | $365,000 | n/a | 0.1% | |
| CHURCHILL MORTGAGE CORPORATION | $635,000 | $355,000 | -44.1% | 0.1% |
| ROYAL UNITED MORTGAGE LLC | $455,000 | $355,000 | -22.0% | 0.1% |
| Network Funding, L.P. | $465,000 | $350,000 | -24.7% | 0.1% |
| Alcova Mortgage LLC | $2,630,000 | $345,000 | -86.9% | 0.1% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $410,000 | $330,000 | -19.5% | 0.1% |
| TOP FLITE FINANCIAL, INC. | $330,000 | n/a | 0.1% | |
| HOMEOWNERS FINANCIAL GROUP USA, LLC | $935,000 | $320,000 | -65.8% | 0.1% |
| Deere Employees Credit Union | $315,000 | n/a | 0.1% | |
| The Peoples Bank | $1,400,000 | $305,000 | -78.2% | 0.1% |
| Coastal Carolina National Bank | $4,910,000 | $295,000 | -94.0% | 0.1% |
| MASSMUTUAL | $295,000 | n/a | 0.1% | |
| AMERISAVE MORTGAGE CORPORATION | $2,745,000 | $290,000 | -89.4% | 0.1% |
| Sierra Pacific Mortgage Company, Inc. | $2,040,000 | $290,000 | -85.8% | 0.1% |
| EVERETT FINANCIAL, INC. | $2,020,000 | $285,000 | -85.9% | 0.1% |
| INTERCOASTAL MORTGAGE COMPANY | $145,000 | $285,000 | 96.6% | 0.1% |
| The Conway National Bank | $280,000 | n/a | 0.1% | |
| Ally Bank | $830,000 | $275,000 | -66.9% | 0.1% |
| DELTA COMMUNITY CREDIT UNION | $530,000 | $275,000 | -48.1% | 0.1% |
| BancorpSouth | $255,000 | n/a | 0.1% | |
| Century Mortgage Company DBA Century Lending Company | $370,000 | $255,000 | -31.1% | 0.1% |
| CoastalStates Bank | $255,000 | n/a | 0.1% | |
| Anderson Brothers Bank | $245,000 | n/a | 0.1% | |
| FIRST HOME MORTGAGE CORPORATION | $245,000 | n/a | 0.1% | |
| Barrington Bank & Trust Company, N.A. | $400,000 | $240,000 | -40.0% | 0.1% |
| COCA-COLA | $235,000 | n/a | 0.1% | |
| CREDIT UNION FINANCIAL SERVICES, LLC | $235,000 | n/a | 0.1% | |
| GMFS LLC | $235,000 | n/a | 0.1% | |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | $3,185,000 | $225,000 | -92.9% | 0.0% |
| LAKEVIEW LOAN SERVICING, LLC | $990,000 | $225,000 | -77.3% | 0.0% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $215,000 | n/a | 0.0% | |
| Security Federal Bank | $215,000 | n/a | 0.0% | |
| Allen Tate Mortgage Partners, LLC | $195,000 | $205,000 | 5.1% | 0.0% |
| GENEVA FINANCIAL, LLC | $205,000 | n/a | 0.0% | |
| HOMESTEAD FUNDING CORP. | $675,000 | $205,000 | -69.6% | 0.0% |
| Horizon Bank | $205,000 | n/a | 0.0% | |
| Mortgage Assurance Inc. | $205,000 | n/a | 0.0% | |
| Peach State Bank & Trust | $205,000 | n/a | 0.0% | |
| Plains Commerce Bank | $470,000 | $205,000 | -56.4% | 0.0% |
| TOWER | $55,000 | $205,000 | 272.7% | 0.0% |
| UNITED | $1,440,000 | $200,000 | -86.1% | 0.0% |
| INTERLINC MORTGAGE SERVICES, LLC | $105,000 | $195,000 | 85.7% | 0.0% |
| NEXERA HOLDING LLC | $195,000 | $195,000 | 0.0% | 0.0% |
| DELMAR FINANCIAL COMPANY | $185,000 | n/a | 0.0% | |
| LIBERTY HOME MORTGAGE CORPORATION | $185,000 | n/a | 0.0% | |
| SOUTHEAST MORTGAGE OF GEORGIA, INC. | $185,000 | n/a | 0.0% | |
| Southern Bank and Trust Company | $185,000 | n/a | 0.0% | |
| Pinnacle Bank | $3,545,000 | $180,000 | -94.9% | 0.0% |
| Citadel Servicing Corporation | $175,000 | n/a | 0.0% | |
| First Bank & Trust | $165,000 | n/a | 0.0% | |
| HOMESIDE FINANCIAL, LLC | $2,620,000 | $165,000 | -93.7% | 0.0% |
| LENDSURE MORTGAGE CORP. | $175,000 | $165,000 | -5.7% | 0.0% |
| VILLAGE CAPITAL MORTGAGE | $220,000 | $165,000 | -25.0% | 0.0% |
| SPRING EQ, LLC | $35,000 | $160,000 | 357.1% | 0.0% |
| Associated Credit Union | $155,000 | n/a | 0.0% | |
| COMPASS MORTGAGE, INC. | $155,000 | n/a | 0.0% | |
| QUORUM FEDERAL CREDIT UNION | $155,000 | n/a | 0.0% | |
| RESIDENTIAL HOME FUNDING CORP. | $155,000 | n/a | 0.0% | |
| The Farmers & Merchants State Bank | $155,000 | n/a | 0.0% | |
| ALLSOUTH | $135,000 | n/a | 0.0% | |
| Princeton Mortgage Corporation | $125,000 | n/a | 0.0% | |
| Boeing Employees Credit Union | $145,000 | $105,000 | -27.6% | 0.0% |
| CITIZENS EQUITY FIRST | $105,000 | n/a | 0.0% | |
| GARDNER FINANCIAL SERVICES, LTD. | $105,000 | n/a | 0.0% | |
| UNIVERSITY CREDIT UNION | $105,000 | n/a | 0.0% | |
| VAN DYK MORTGAGE CORPORATION | $95,000 | n/a | 0.0% | |
| Figure Lending LLC | $90,000 | n/a | 0.0% | |
| Connexus Credit Union | $85,000 | n/a | 0.0% | |
| MTC Federal Credit Union | $545,000 | $75,000 | -86.2% | 0.0% |
| Baxter Credit Union | $145,000 | $65,000 | -55.2% | 0.0% |
| CORNING | $65,000 | n/a | 0.0% | |
| GTE Federal Credit Union | $55,000 | n/a | 0.0% | |
| HONDA Federal Credit Union | $65,000 | $55,000 | -15.4% | 0.0% |
| Pinnacle Bank | $3,545,000 | $55,000 | -98.4% | 0.0% |
Seneca's top lender by overall market share is South State Bank, with 8.6% market share. In second place, with 4.4%, is QUICKEN LOANS, LLC, having originated $19,785,000 in loans. In third place, with 4.1%, is First-Citizens Bank & Trust Company, having originated $18,455,000 in loans. In fourth place, with 3.3%, is ON Q FINANCIAL, INC., having originated $14,905,000 in loans. In fifth place, with 3.3%, is Bank of America, having originated $14,710,000 in loans.
Seneca, SC Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 977 | $341,065,000 | $349,094 |
| Other | 154 | $25,050,000 | $162,662 |
| Home Improvement | 127 | $20,265,000 | $159,567 |
| Cash Out Refi | 127 | $26,775,000 | $210,827 |
| Refi | 114 | $37,230,000 | $326,579 |
Seneca's most frequently cited loan purpose was Home Purchase, with 977 originations. The 2nd most popular reason was Other, with 154 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 499 | $161,215,000 | $323,076 |
| 7-8% | 327 | $94,095,000 | $287,752 |
| 5-6% | 242 | $89,670,000 | $370,537 |
| Over 8% | 213 | $50,055,000 | $235,000 |
| 4-5% | 99 | $16,015,000 | $161,768 |
| 3-4% | 16 | $1,710,000 | $106,875 |
| <2.5% | 4 | $30,000 | $7,500 |
| 2.5-3% | 2 | $320,000 | $160,000 |
During 2023, Seneca's most frequently originated rate bucket was 6-7%, with 499 originations.
Loan Sizing (Seneca, SC MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 493 | $134,095,000 | $271,998 |
| $100k-200k | 466 | $69,330,000 | $148,777 |
| $100,000 or less | 259 | $16,065,000 | $62,027 |
| $400k-600k | 121 | $58,315,000 | $481,942 |
| $600k-1000k | 99 | $72,425,000 | $731,566 |
| $Over $1MM | 61 | $100,155,000 | $1,641,885 |
Seneca's loan sizing saw the bucket of loans from $200k-400k with 493 originations, totaling $134,095,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 502 | $157,110,000 | $312,968 |
| 60-80% | 327 | $141,945,000 | $434,083 |
| 20-40% | 197 | $34,305,000 | $174,137 |
| 40-60% | 181 | $54,685,000 | $302,127 |
| Under 20% | 172 | $18,270,000 | $106,221 |
| Over 100% | 19 | $5,895,000 | $310,263 |
Seneca's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 502 originations, totaling $157,110,000 in origination value.