Shelbyville Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Shelbyville averaged
6.77%
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
6.5% and
one month ago for the week of 2024-10-03, the
average rate was 6.3%.
Shelbyville's average rate one year ago was 7.84%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.19%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Shelbyville 30 Year Fixed Rate | 2024-11-07 | 6.77% |
| Shelbyville 30 Year Fixed Rate Refi | 2024-11-07 | 7.19% |
| Shelbyville 15 Year Fixed Rate | 2024-11-07 | 5.8% |
| Shelbyville 15 Year Fixed Rate Refi | 2024-11-07 | 6.3% |
| Shelbyville 30 Year FHA | 2024-11-07 | 6.19% |
| Shelbyville 30 Year FHA Refi | 2024-11-07 | 6.53% |
| Shelbyville 30 Year USDA | 2024-11-07 | 6.58% |
| Shelbyville 30 Year USDA Refi | 2024-11-07 | 6.48% |
| Shelbyville 30 Year VA | 2024-11-07 | 6.16% |
| Shelbyville 30 Year VA Refi | 2024-11-07 | 6.54% |
Shelbyville 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 Shelbyville, TN 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.).
Shelbyville Average Closing Costs & Other Stats
Shelbyville, TN's 78 lenders originated 1,224
loans during 2023. The total origination value was $292,560,000, with an average loan value of
$239,020.
Shelbyville's average closing costs are $5,642.
The top Shelbyville lender as defined by loan originations is FIRST COMMUNITY MORTGAGE, INC., with
61 loans originated. Their average total fees are
$7,376, which is $1,013
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Shelbyville lenders (with over 10 loans originated) are
ASCEND FEDERAL CREDIT UNION ($2,956), The First National Bank of Middle Tennessee ($3,871), CHURCHILL MORTGAGE CORPORATION ($5,188), FirstBank ($5,307) and QUICKEN LOANS, LLC ($6,362).
The lowest rate Shelbyville lenders (with over 10 loans originated) are
ASCEND FEDERAL CREDIT UNION (6.35%), QUICKEN LOANS, LLC (6.47%), CMG MORTGAGE, INC. (6.52%), UNITED WHOLESALE MORTGAGE, LLC (6.65%) and The First National Bank of Middle Tennessee (6.81%).
Shelbyville, TN 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 |
|---|---|---|---|---|
| FIRST COMMUNITY MORTGAGE, INC. | $51,085,000 | $45,390,000 | -11.1% | 15.5% |
| CMG MORTGAGE, INC. | $16,260,000 | $23,765,000 | 46.2% | 8.1% |
| QUICKEN LOANS, LLC | $26,495,000 | $19,960,000 | -24.7% | 6.8% |
| FirstBank | $17,215,000 | $13,150,000 | -23.6% | 4.5% |
| UNITED WHOLESALE MORTGAGE, LLC | $11,195,000 | $12,945,000 | 15.6% | 4.4% |
| ASCEND FEDERAL CREDIT UNION | $15,560,000 | $12,135,000 | -22.0% | 4.1% |
| SeaTrust Mortgage Company | $175,000 | $9,910,000 | 5,562.9% | 3.4% |
| Mortgage Research Center, LLC | $4,450,000 | $7,465,000 | 67.8% | 2.6% |
| The First National Bank of Middle Tennessee | $9,875,000 | $6,770,000 | -31.4% | 2.3% |
| HERITAGE SOUTH COMMUNITY CU | $12,155,000 | $5,735,000 | -52.8% | 2.0% |
| Citizens Bank of Lafayette | $7,500,000 | $5,285,000 | -29.5% | 1.8% |
| Farm Credit Mid-America, ACA | $8,110,000 | $4,715,000 | -41.9% | 1.6% |
| Pinnacle Bank | $5,270,000 | $4,630,000 | -12.1% | 1.6% |
| MOVEMENT MORTGAGE, LLC | $1,285,000 | $4,580,000 | 256.4% | 1.6% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $2,125,000 | $4,575,000 | 115.3% | 1.6% |
| WALKER & DUNLOP, LLC | $4,375,000 | n/a | 1.5% | |
| LOANDEPOT.COM, LLC | $3,735,000 | $3,600,000 | -3.6% | 1.2% |
| Wilson Bank And Trust | $2,980,000 | $3,440,000 | 15.4% | 1.2% |
| REDSTONE Federal Credit Union | $2,105,000 | $3,360,000 | 59.6% | 1.1% |
| Regions Bank | $3,800,000 | $3,280,000 | -13.7% | 1.1% |
| U.S. Bank | $3,735,000 | $3,130,000 | -16.2% | 1.1% |
| MORTGAGE INVESTORS GROUP, INC. | $1,225,000 | $3,100,000 | 153.1% | 1.1% |
| CROSSCOUNTRY MORTGAGE, LLC | $1,730,000 | $3,090,000 | 78.6% | 1.1% |
| SWBC MORTGAGE CORPORATION | $5,170,000 | $2,910,000 | -43.7% | 1.0% |
| BROKER SOLUTIONS, INC. | $2,170,000 | $2,860,000 | 31.8% | 1.0% |
| PENNYMAC LOAN SERVICES, LLC | $6,220,000 | $2,860,000 | -54.0% | 1.0% |
| First Vision Bank of Tennessee | $3,455,000 | $2,445,000 | -29.2% | 0.8% |
| CHURCHILL MORTGAGE CORPORATION | $1,735,000 | $2,345,000 | 35.2% | 0.8% |
| Legacy Home Loans, LLC | $2,415,000 | $2,175,000 | -9.9% | 0.7% |
| NAVY FEDERAL CREDIT UNION | $630,000 | $2,125,000 | 237.3% | 0.7% |
| The Federal Savings Bank | $400,000 | $1,995,000 | 398.8% | 0.7% |
| First Horizon Bank | $5,535,000 | $1,955,000 | -64.7% | 0.7% |
| GUARANTEED RATE, INC. | $3,330,000 | $1,920,000 | -42.3% | 0.7% |
| Legends Bank | $910,000 | $1,720,000 | 89.0% | 0.6% |
| FREEDOM MORTGAGE CORPORATION | $2,405,000 | $1,635,000 | -32.0% | 0.6% |
| Y-12 Federal Credit Union | $1,505,000 | n/a | 0.5% | |
| CapStar Bank | $1,770,000 | $1,420,000 | -19.8% | 0.5% |
| USAA Federal Savings Bank | $945,000 | $1,410,000 | 49.2% | 0.5% |
| Magnolia Bank | $2,225,000 | $1,350,000 | -39.3% | 0.5% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $780,000 | $1,315,000 | 68.6% | 0.4% |
| CARDINAL FINANCIAL | $2,715,000 | $1,300,000 | -52.1% | 0.4% |
| Bell Bank | $425,000 | $1,285,000 | 202.4% | 0.4% |
| AMERISAVE MORTGAGE CORPORATION | $3,625,000 | $1,255,000 | -65.4% | 0.4% |
| NEWREZ LLC | $1,625,000 | $1,255,000 | -22.8% | 0.4% |
| VILLAGE CAPITAL MORTGAGE | $760,000 | $1,240,000 | 63.2% | 0.4% |
| ISERVE RESIDENTIAL LENDING, LLC | $1,765,000 | $1,190,000 | -32.6% | 0.4% |
| FirstTrust Home Loans, Inc. | $1,150,000 | n/a | 0.4% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $295,000 | $1,090,000 | 269.5% | 0.4% |
| HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | $765,000 | $1,085,000 | 41.8% | 0.4% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $765,000 | $1,020,000 | 33.3% | 0.3% |
| Mr. Cooper ( Nationstar Mortgage ) | $2,700,000 | $815,000 | -69.8% | 0.3% |
| ACOPIA, LLC | $1,895,000 | $810,000 | -57.3% | 0.3% |
| MID AMERICA MORTGAGE, INC. | $800,000 | n/a | 0.3% | |
| HOMESIDE FINANCIAL, LLC | $705,000 | $785,000 | 11.3% | 0.3% |
| Bank of America | $1,685,000 | $780,000 | -53.7% | 0.3% |
| COMMUNITY MORTGAGE CORPORATION | $1,295,000 | $765,000 | -40.9% | 0.3% |
| NEXERA HOLDING LLC | $125,000 | $745,000 | 496.0% | 0.3% |
| TOWER COMMUNITY BANK | $745,000 | n/a | 0.3% | |
| Citizens Tri-County Bank | $500,000 | $725,000 | 45.0% | 0.2% |
| F&M Bank | $3,040,000 | $665,000 | -78.1% | 0.2% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $660,000 | n/a | 0.2% | |
| First State Bank | $655,000 | n/a | 0.2% | |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $655,000 | n/a | 0.2% | |
| SmartBank | $325,000 | $650,000 | 100.0% | 0.2% |
| BankPlus | $635,000 | n/a | 0.2% | |
| EVANSVILLE TEACHERS | $2,310,000 | $585,000 | -74.7% | 0.2% |
| FIRST CONTINENTAL MORTGAGE, LTD. | $570,000 | n/a | 0.2% | |
| Discover Bank | $195,000 | $565,000 | 189.7% | 0.2% |
| JMJ FINANCIAL GROUP | $565,000 | n/a | 0.2% | |
| First National Bank of Pulaski | $405,000 | $550,000 | 35.8% | 0.2% |
| Nations Lending Corporation | $260,000 | $530,000 | 103.8% | 0.2% |
| T2 FINANCIAL LLC | $105,000 | $530,000 | 404.8% | 0.2% |
| ROSS MORTGAGE CORPORATION | $285,000 | $520,000 | 82.5% | 0.2% |
| RELIANCE FIRST CAPITAL, LLC | $500,000 | $515,000 | 3.0% | 0.2% |
| SUCCESS MORTGAGE PARTNERS, INC. | $515,000 | n/a | 0.2% | |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $495,000 | n/a | 0.2% | |
| 21ST MORTGAGE CORPORATION | $365,000 | $465,000 | 27.4% | 0.2% |
| BancorpSouth | $105,000 | $460,000 | 338.1% | 0.2% |
| Midwest BankCentre | $460,000 | n/a | 0.2% | |
| THE TENNESSEE CREDIT UNION | $455,000 | n/a | 0.2% | |
| AMCAP MORTGAGE, LTD. | $445,000 | n/a | 0.2% | |
| Citizens Bank | $2,415,000 | $440,000 | -81.8% | 0.2% |
| PLANET HOME LENDING, LLC | $2,275,000 | $415,000 | -81.8% | 0.1% |
| JPMorgan Chase Bank | $1,715,000 | $390,000 | -77.3% | 0.1% |
| LOANPAL, LLC | $405,000 | $390,000 | -3.7% | 0.1% |
| Truist | $925,000 | $390,000 | -57.8% | 0.1% |
| DHI MORTGAGE COMPANY, LTD. | $385,000 | n/a | 0.1% | |
| ON Q FINANCIAL, INC. | $385,000 | n/a | 0.1% | |
| Bank of Tennessee | $295,000 | $365,000 | 23.7% | 0.1% |
| Carrington Mortgage Services, LLC | $1,330,000 | $365,000 | -72.6% | 0.1% |
| Renasant Bank | $640,000 | $355,000 | -44.5% | 0.1% |
| River Bank & Trust | $355,000 | n/a | 0.1% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $95,000 | $335,000 | 252.6% | 0.1% |
| First Citizens National Bank | $335,000 | n/a | 0.1% | |
| SUN WEST MORTGAGE COMPANY, INC. | $335,000 | n/a | 0.1% | |
| VAN DYK MORTGAGE CORPORATION | $335,000 | n/a | 0.1% | |
| OCMBC, INC. | $330,000 | n/a | 0.1% | |
| Equity Prime Mortgage LLC | $265,000 | $315,000 | 18.9% | 0.1% |
| NEW DAY FINANCIAL, LLC | $2,105,000 | $315,000 | -85.0% | 0.1% |
| CB&S Bank, Inc. | $155,000 | $310,000 | 100.0% | 0.1% |
| Figure Lending LLC | $240,000 | $310,000 | 29.2% | 0.1% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $1,165,000 | $310,000 | -73.4% | 0.1% |
| AMERICAN FINANCING CORPORATION | $820,000 | $305,000 | -62.8% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $305,000 | n/a | 0.1% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $335,000 | $300,000 | -10.4% | 0.1% |
| Ameris Bank | $2,850,000 | $295,000 | -89.6% | 0.1% |
| GARDNER FINANCIAL SERVICES, LTD. | $290,000 | n/a | 0.1% | |
| INTERLINC MORTGAGE SERVICES, LLC | $290,000 | n/a | 0.1% | |
| First Farmers and Merchants Bank | $425,000 | $285,000 | -32.9% | 0.1% |
| NFM, INC. | $125,000 | $285,000 | 128.0% | 0.1% |
| GUARANTY HOME MORTGAGE CORPORATION | $1,250,000 | $275,000 | -78.0% | 0.1% |
| LAND HOME FINANCIAL SERVICES, INC. | $620,000 | $275,000 | -55.6% | 0.1% |
| PREMIA MORTGAGE, LLC | $275,000 | n/a | 0.1% | |
| Fifth Third Bank | $955,000 | $270,000 | -71.7% | 0.1% |
| TOP FLITE FINANCIAL, INC. | $270,000 | n/a | 0.1% | |
| CLEARPATH LENDING | $265,000 | n/a | 0.1% | |
| First National Bank of America | $275,000 | $265,000 | -3.6% | 0.1% |
| CALCON MUTUAL MORTGAGE LLC | $375,000 | $245,000 | -34.7% | 0.1% |
| STOCKTON MORTGAGE CORPORATION | $245,000 | n/a | 0.1% | |
| Wells Fargo Bank | $2,840,000 | $245,000 | -91.4% | 0.1% |
| TENNESSEE TRUST MORTGAGE, INC | $215,000 | n/a | 0.1% | |
| BETTER MORTGAGE CORPORATION | $360,000 | $205,000 | -43.1% | 0.1% |
| SOUTH CENTRAL BANK, INC. | $205,000 | n/a | 0.1% | |
| LAKEVIEW LOAN SERVICING, LLC | $1,225,000 | $195,000 | -84.1% | 0.1% |
| JLB CORPORATION | $145,000 | $185,000 | 27.6% | 0.1% |
| ROYAL UNITED MORTGAGE LLC | $65,000 | $180,000 | 176.9% | 0.1% |
| CORNERSTONE HOME LENDING, INC. | $175,000 | n/a | 0.1% | |
| QUORUM FEDERAL CREDIT UNION | $175,000 | n/a | 0.1% | |
| FINANCE OF AMERICA REVERSE LLC | $170,000 | n/a | 0.1% | |
| Flagstar Bank, FSB | $1,425,000 | $155,000 | -89.1% | 0.1% |
| OPEN MORTGAGE, LLC | $115,000 | $135,000 | 17.4% | 0.0% |
| SOUTHWEST STAGE FUNDING, LLC | $135,000 | n/a | 0.0% | |
| Logan Finance Corporation | $125,000 | n/a | 0.0% | |
| United Community Bank | $340,000 | $125,000 | -63.2% | 0.0% |
| CANOPY MORTGAGE, LLC | $105,000 | n/a | 0.0% | |
| Capital Bank | $105,000 | n/a | 0.0% | |
| WesBanco | $105,000 | n/a | 0.0% | |
| Coastal Community Bank | $75,000 | n/a | 0.0% | |
| DELTA COMMUNITY CREDIT UNION | $75,000 | n/a | 0.0% | |
| Liberty Savings Bank, F.S.B. | $75,000 | n/a | 0.0% | |
| CITY-COUNTY CREDIT UNION | $90,000 | $65,000 | -27.8% | 0.0% |
| PENTAGON FEDERAL CREDIT UNION | $55,000 | n/a | 0.0% | |
| Third Federal Savings and Loan Association of Cleveland | $55,000 | n/a | 0.0% | |
| Baxter Credit Union | $25,000 | n/a | 0.0% | |
| NORTHROP GRUMMAN Federal Credit Union | $25,000 | n/a | 0.0% |
Shelbyville's top lender by overall market share is FIRST COMMUNITY MORTGAGE, INC., with 15.5% market share. In second place, with 8.1%, is CMG MORTGAGE, INC., having originated $23,765,000 in loans. In third place, with 6.8%, is QUICKEN LOANS, LLC, having originated $19,960,000 in loans. In fourth place, with 4.5%, is FirstBank, having originated $13,150,000 in loans. In fifth place, with 4.4%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $12,945,000 in loans.
Shelbyville, TN Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 694 | $198,070,000 | $285,403 |
| Cash Out Refi | 224 | $42,330,000 | $188,973 |
| Other | 117 | $9,865,000 | $84,316 |
| Refi | 114 | $36,320,000 | $318,596 |
| Home Improvement | 75 | $5,975,000 | $79,667 |
Shelbyville's most frequently cited loan purpose was Home Purchase, with 694 originations. The 2nd most popular reason was Cash Out Refi, with 224 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 422 | $119,060,000 | $282,133 |
| 7-8% | 282 | $71,100,000 | $252,128 |
| Over 8% | 254 | $29,420,000 | $115,827 |
| 5-6% | 216 | $63,740,000 | $295,093 |
| 4-5% | 20 | $6,000,000 | $300,000 |
| <2.5% | 5 | $145,000 | $29,000 |
During 2023, Shelbyville's most frequently originated rate bucket was 6-7%, with 422 originations.
Loan Sizing (Shelbyville, TN MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 560 | $159,510,000 | $284,839 |
| $100,000 or less | 273 | $13,105,000 | $48,004 |
| $100k-200k | 255 | $38,645,000 | $151,549 |
| $400k-600k | 99 | $46,925,000 | $473,990 |
| $600k-1000k | 31 | $21,525,000 | $694,355 |
| $Over $1MM | 6 | $12,850,000 | $2,141,667 |
Shelbyville's loan sizing saw the bucket of loans from $200k-400k with 560 originations, totaling $159,510,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 511 | $157,405,000 | $308,033 |
| 60-80% | 215 | $67,155,000 | $312,349 |
| Under 20% | 190 | $8,080,000 | $42,526 |
| 20-40% | 142 | $18,150,000 | $127,817 |
| 40-60% | 120 | $29,170,000 | $243,083 |
| Over 100% | 25 | $8,625,000 | $345,000 |
Shelbyville's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 511 originations, totaling $157,405,000 in origination value.