Sonora Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Sonora averaged
6.7%
for the week of 2024-07-18, compared to the national average of
6.77% for the same period.
The average rate for the prior week (2024-07-11) was
7.22% and
one month ago for the week of 2024-06-13, the
average rate was 7.08%.
Sonora's average rate one year ago was 6.99%.
For refis of the same type during the week of 2024-07-18, the average rate
was 6.87%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-07-18 | 6.77% |
| Sonora 30 Year Fixed Rate | 2024-07-18 | 6.7% |
| Sonora 30 Year Fixed Rate Refi | 2024-07-18 | 6.87% |
| Sonora 15 Year Fixed Rate | 2024-07-18 | 6.15% |
| Sonora 15 Year Fixed Rate Refi | 2024-07-18 | 6.35% |
| Sonora 30 Year FHA | 2024-07-18 | 6.47% |
| Sonora 30 Year FHA Refi | 2024-07-18 | 6.39% |
| Sonora 30 Year USDA | 2024-07-18 | 6.83% |
| Sonora 30 Year USDA Refi | 2024-07-18 | 6.73% |
| Sonora 30 Year VA | 2024-07-18 | 6.1% |
| Sonora 30 Year VA Refi | 2024-07-18 | 6.1% |
Sonora 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 Sonora, CA 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.).
Sonora Average Closing Costs & Other Stats
Sonora, CA's 89 lenders originated 893
loans during 2023. The total origination value was $241,195,000, with an average loan value of
$270,095.
Sonora's average closing costs are $5,525.
The top Sonora lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with
107 loans originated. Their average total fees are
$6,718, which is $1,283
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Sonora lenders (with over 10 loans originated) are
FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,718), QUICKEN LOANS, LLC ($7,703), UNITED WHOLESALE MORTGAGE, LLC ($8,001), AMERICAN PACIFIC MORTGAGE CORPORATION ($9,029) and .
The lowest rate Sonora lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.86%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.92%), UNITED WHOLESALE MORTGAGE, LLC (7.01%), AMERICAN PACIFIC MORTGAGE CORPORATION (7.14%) and .
Sonora, CA 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 |
|---|---|---|---|---|
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $73,630,000 | $49,380,000 | -32.9% | 20.5% |
| UNITED WHOLESALE MORTGAGE, LLC | $45,005,000 | $32,860,000 | -27.0% | 13.6% |
| QUICKEN LOANS, LLC | $41,555,000 | $22,955,000 | -44.8% | 9.5% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $8,580,000 | $6,505,000 | -24.2% | 2.7% |
| Bank of America | $7,915,000 | $5,120,000 | -35.3% | 2.1% |
| LOANDEPOT.COM, LLC | $9,730,000 | $4,265,000 | -56.2% | 1.8% |
| U.S. Bank | $5,645,000 | $3,920,000 | -30.6% | 1.6% |
| CROSSCOUNTRY MORTGAGE, LLC | $8,305,000 | $3,910,000 | -52.9% | 1.6% |
| PENNYMAC LOAN SERVICES, LLC | $4,975,000 | $3,690,000 | -25.8% | 1.5% |
| PNC Bank | $1,880,000 | $3,230,000 | 71.8% | 1.3% |
| Flagstar Bank, FSB | $3,150,000 | $3,105,000 | -1.4% | 1.3% |
| Century Mortgage Company DBA Century Lending Company | $1,955,000 | $2,995,000 | 53.2% | 1.2% |
| ACADEMY MORTGAGE CORPORATION | $5,040,000 | $2,635,000 | -47.7% | 1.1% |
| MASON MCDUFFIE MORTGAGE CORPORATION | $3,690,000 | $2,615,000 | -29.1% | 1.1% |
| JPMorgan Chase Bank | $8,000,000 | $2,335,000 | -70.8% | 1.0% |
| BROKER SOLUTIONS, INC. | $2,995,000 | $2,190,000 | -26.9% | 0.9% |
| FREEDOM MORTGAGE CORPORATION | $5,630,000 | $2,020,000 | -64.1% | 0.8% |
| Northpointe Bank | $3,175,000 | $1,970,000 | -38.0% | 0.8% |
| CMG MORTGAGE, INC. | $3,145,000 | $1,835,000 | -41.7% | 0.8% |
| Wells Fargo Bank | $9,485,000 | $1,815,000 | -80.9% | 0.8% |
| Commerce Home Mortgage, Inc. | $4,780,000 | $1,760,000 | -63.2% | 0.7% |
| The Loan Store, Inc. | $1,655,000 | n/a | 0.7% | |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $2,220,000 | $1,630,000 | -26.6% | 0.7% |
| CASTLE & COOKE MORTGAGE, LLC | $1,710,000 | $1,605,000 | -6.1% | 0.7% |
| GUILD MORTGAGE COMPANY | $2,260,000 | $1,545,000 | -31.6% | 0.6% |
| BMO Harris Bank | $1,480,000 | n/a | 0.6% | |
| Farmers & Merchants Bank of Central California | $375,000 | $1,405,000 | 274.7% | 0.6% |
| Bank of Stockton | $1,535,000 | $1,380,000 | -10.1% | 0.6% |
| NAVY FEDERAL CREDIT UNION | $990,000 | $1,380,000 | 39.4% | 0.6% |
| HSBC BANK USA, NATIONAL ASSOCIATION | $1,365,000 | n/a | 0.6% | |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $2,535,000 | $1,360,000 | -46.4% | 0.6% |
| LENDINGHOME FUNDING CORPORATION | $1,085,000 | $1,345,000 | 24.0% | 0.6% |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $135,000 | $1,255,000 | 829.6% | 0.5% |
| TRIAD FINANCIAL SERVICES, INC. | $480,000 | $1,225,000 | 155.2% | 0.5% |
| Umpqua Bank | $7,065,000 | $1,210,000 | -82.9% | 0.5% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $1,370,000 | $1,200,000 | -12.4% | 0.5% |
| OCMBC, INC. | $1,020,000 | $1,190,000 | 16.7% | 0.5% |
| Paramount Residential Mortgage Group, Inc. | $2,235,000 | $1,145,000 | -48.8% | 0.5% |
| THE GOLDEN 1 | $935,000 | $1,145,000 | 22.5% | 0.5% |
| GUARANTEED RATE, INC. | $4,150,000 | $1,115,000 | -73.1% | 0.5% |
| SUMMIT FUNDING, INC. | $255,000 | $1,115,000 | 337.3% | 0.5% |
| Mortgage Research Center, LLC | $4,120,000 | $1,065,000 | -74.2% | 0.4% |
| SUN WEST MORTGAGE COMPANY, INC. | $1,175,000 | $1,060,000 | -9.8% | 0.4% |
| ARC HOME LLC | $365,000 | $1,025,000 | 180.8% | 0.4% |
| S1L, Inc. | $2,625,000 | $1,025,000 | -61.0% | 0.4% |
| FINANCE OF AMERICA REVERSE LLC | $515,000 | $1,020,000 | 98.1% | 0.4% |
| AMERICAN FINANCIAL NETWORK, INC. | $960,000 | n/a | 0.4% | |
| NEWREZ LLC | $1,320,000 | $945,000 | -28.4% | 0.4% |
| Mr. Cooper ( Nationstar Mortgage ) | $9,765,000 | $915,000 | -90.6% | 0.4% |
| The Federal Savings Bank | $1,375,000 | $870,000 | -36.7% | 0.4% |
| AMERISAVE MORTGAGE CORPORATION | $6,085,000 | $845,000 | -86.1% | 0.4% |
| LADERA LENDING, INC. | $835,000 | n/a | 0.3% | |
| Sierra Pacific Mortgage Company, Inc. | $2,490,000 | $830,000 | -66.7% | 0.3% |
| Banner Bank | $815,000 | n/a | 0.3% | |
| El Dorado Savings Bank, F.S.B. | $2,945,000 | $805,000 | -72.7% | 0.3% |
| CALCON MUTUAL MORTGAGE LLC | $335,000 | $770,000 | 129.9% | 0.3% |
| LAKEVIEW LOAN SERVICING, LLC | $2,795,000 | $760,000 | -72.8% | 0.3% |
| PATELCO | $2,700,000 | $760,000 | -71.9% | 0.3% |
| CARDINAL FINANCIAL | $930,000 | $730,000 | -21.5% | 0.3% |
| FIRST TECHNOLOGY | $515,000 | $730,000 | 41.7% | 0.3% |
| KeyBank | $625,000 | $725,000 | 16.0% | 0.3% |
| 21ST MORTGAGE CORPORATION | $910,000 | $705,000 | -22.5% | 0.3% |
| NFM, INC. | $1,710,000 | $660,000 | -61.4% | 0.3% |
| SCENIC OAKS FUNDING, INC. | $2,140,000 | $660,000 | -69.2% | 0.3% |
| CREDIT HUMAN FEDERAL CREDIT UNION | $125,000 | $650,000 | 420.0% | 0.3% |
| HOMEOWNERS FINANCIAL GROUP USA, LLC | $275,000 | $650,000 | 136.4% | 0.3% |
| Firefighters First Federal Credit Union | $250,000 | $630,000 | 152.0% | 0.3% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $5,405,000 | $625,000 | -88.4% | 0.3% |
| Carrington Mortgage Services, LLC | $1,130,000 | $610,000 | -46.0% | 0.3% |
| Citizens Bank | $875,000 | $605,000 | -30.9% | 0.3% |
| NETWORK CAPITAL FUNDING CORPORATION | $425,000 | $600,000 | 41.2% | 0.2% |
| PACIFIC SERVICE | $1,460,000 | $555,000 | -62.0% | 0.2% |
| AXIA FINANCIAL, LLC | $545,000 | n/a | 0.2% | |
| MOVEMENT MORTGAGE, LLC | $1,925,000 | $530,000 | -72.5% | 0.2% |
| Farmers Bank & Trust | $525,000 | n/a | 0.2% | |
| San Joaquin Power Employees Credit Union | $520,000 | n/a | 0.2% | |
| NOVA FINANCIAL & INVESTMENT CORPORATION | $515,000 | n/a | 0.2% | |
| Comerica Bank | $55,000 | $505,000 | 818.2% | 0.2% |
| CLEARPATH LENDING | $445,000 | $495,000 | 11.2% | 0.2% |
| Discover Bank | $540,000 | $485,000 | -10.2% | 0.2% |
| REDWOOD | $470,000 | n/a | 0.2% | |
| SNAPFI, INC. | $470,000 | n/a | 0.2% | |
| Third Federal Savings and Loan Association of Cleveland | $140,000 | $450,000 | 221.4% | 0.2% |
| EVERETT FINANCIAL, INC. | $905,000 | $445,000 | -50.8% | 0.2% |
| LONGBRIDGE FINANCIAL, LLC | $380,000 | $445,000 | 17.1% | 0.2% |
| Merchants Mortgage & Trust Corporation | $440,000 | n/a | 0.2% | |
| ALAMEDA MORTGAGE CORPORATION | $800,000 | $430,000 | -46.3% | 0.2% |
| BEST FINANCE CAPITAL, INC. | $425,000 | n/a | 0.2% | |
| MORTGAGEONE, INC. | $415,000 | n/a | 0.2% | |
| VILLAGE CAPITAL MORTGAGE | $855,000 | $405,000 | -52.6% | 0.2% |
| FOUNDATION MORTGAGE CORPORATION | $395,000 | n/a | 0.2% | |
| Barrington Bank & Trust Company, N.A. | $65,000 | $385,000 | 492.3% | 0.2% |
| Ameris Bank | $375,000 | n/a | 0.2% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $415,000 | $375,000 | -9.6% | 0.2% |
| HOMEXPRESS MORTGAGE CORP. | $645,000 | $365,000 | -43.4% | 0.2% |
| DRAPER AND KRAMER MORTGAGE CORP. | $355,000 | n/a | 0.1% | |
| PACIFIC RESIDENTIAL MORTGAGE, LLC | $355,000 | n/a | 0.1% | |
| Prosperity Home Mortgage, LLC | $355,000 | n/a | 0.1% | |
| Bank of England | $345,000 | n/a | 0.1% | |
| Equity Prime Mortgage LLC | $1,425,000 | $345,000 | -75.8% | 0.1% |
| DIRECTIONS EQUITY, LLC | $335,000 | n/a | 0.1% | |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $335,000 | n/a | 0.1% | |
| ML Mortgage Corp. | $335,000 | n/a | 0.1% | |
| USAA Federal Savings Bank | $720,000 | $335,000 | -53.5% | 0.1% |
| Educational Employees Credit Union | $400,000 | $330,000 | -17.5% | 0.1% |
| USAlliance Federal Credit Union | $330,000 | n/a | 0.1% | |
| HOMESIDE FINANCIAL, LLC | $325,000 | n/a | 0.1% | |
| Provident Credit Union | $620,000 | $325,000 | -47.6% | 0.1% |
| PLAZA HOME MORTGAGE, INC. | $365,000 | $315,000 | -13.7% | 0.1% |
| Hinsdale Bank & Trust Company | $305,000 | n/a | 0.1% | |
| CHURCHILL MORTGAGE CORPORATION | $260,000 | $295,000 | 13.5% | 0.1% |
| ENVOY MORTGAGE, LTD | $825,000 | $295,000 | -64.2% | 0.1% |
| CTBC Bank Corp. (USA) | $285,000 | n/a | 0.1% | |
| GOOGAIN, INC. | $355,000 | $285,000 | -19.7% | 0.1% |
| MOUNTAIN WEST FINANCIAL, INC. | $285,000 | n/a | 0.1% | |
| PremierOne Credit Union | $285,000 | n/a | 0.1% | |
| UTILITIES EMPLOYEES CREDIT UNION | $285,000 | n/a | 0.1% | |
| BAY-VALLEY MORTGAGE GROUP | $275,000 | n/a | 0.1% | |
| Fremont Bank | $2,440,000 | $275,000 | -88.7% | 0.1% |
| Citadel Servicing Corporation | $265,000 | n/a | 0.1% | |
| Leader Bank | $265,000 | n/a | 0.1% | |
| NEXERA HOLDING LLC | $2,845,000 | $265,000 | -90.7% | 0.1% |
| City National Bank | $255,000 | n/a | 0.1% | |
| INTERCAP LENDING INC. | $255,000 | n/a | 0.1% | |
| ALLIANT CREDIT UNION | $995,000 | $250,000 | -74.9% | 0.1% |
| OPEN MORTGAGE, LLC | $225,000 | $245,000 | 8.9% | 0.1% |
| Figure Lending LLC | $705,000 | $235,000 | -66.7% | 0.1% |
| Baxter Credit Union | $45,000 | $225,000 | 400.0% | 0.1% |
| Greenbox Loans, Inc. | $225,000 | n/a | 0.1% | |
| Operating Engineers Local Union #3 | $635,000 | $225,000 | -64.6% | 0.1% |
| San Mateo Credit Union | $225,000 | n/a | 0.1% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $215,000 | n/a | 0.1% | |
| GTE Federal Credit Union | $210,000 | n/a | 0.1% | |
| Signature Federal Credit Union | $210,000 | n/a | 0.1% | |
| North American Savings Bank, F.S.B. | $195,000 | n/a | 0.1% | |
| TRAVIS CREDIT UNION | $190,000 | n/a | 0.1% | |
| BETTER MORTGAGE CORPORATION | $1,440,000 | $185,000 | -87.2% | 0.1% |
| Golden Empire Mortgage, Inc. | $405,000 | $180,000 | -55.6% | 0.1% |
| Connexus Credit Union | $175,000 | n/a | 0.1% | |
| AMERICAN HERITAGE LENDING, INC. | $165,000 | n/a | 0.1% | |
| NEW WAVE LENDING GROUP INC | $165,000 | n/a | 0.1% | |
| Alaska USA Federal Credit Union | $190,000 | $155,000 | -18.4% | 0.1% |
| AMERITRUST MORTGAGE CORPORATION | $155,000 | n/a | 0.1% | |
| CBC Federal Credit Union | $155,000 | n/a | 0.1% | |
| NexBank | $315,000 | $155,000 | -50.8% | 0.1% |
| SCHOOLSFIRST | $690,000 | $150,000 | -78.3% | 0.1% |
| AmRes Corporation | $145,000 | n/a | 0.1% | |
| Citibank | $1,010,000 | $145,000 | -85.6% | 0.1% |
| General Mortgage Capital Corporation | $145,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $130,000 | n/a | 0.1% | |
| SPRING EQ, LLC | $1,220,000 | $130,000 | -89.3% | 0.1% |
| Strong Home Mortgage, LLC | $345,000 | $115,000 | -66.7% | 0.0% |
| HighTechLending Inc | $165,000 | $105,000 | -36.4% | 0.0% |
| STAR ONE CREDIT UNION | $1,325,000 | $105,000 | -92.1% | 0.0% |
| Stifel Bank and Trust | $105,000 | n/a | 0.0% | |
| Mechanics Bank | $2,115,000 | $90,000 | -95.7% | 0.0% |
| SAN FRANCISCO FIRE CREDIT UNION | $90,000 | n/a | 0.0% | |
| VAL-CHRIS INVESTMENTS, INC. | $85,000 | n/a | 0.0% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $2,530,000 | $75,000 | -97.0% | 0.0% |
| STANFORD Federal Credit Union | $335,000 | $75,000 | -77.6% | 0.0% |
| Bethpage Federal Credit Union | $620,000 | $45,000 | -92.7% | 0.0% |
| CHERRY CREEK MORTGAGE, LLC | $710,000 | $35,000 | -95.1% | 0.0% |
| Coastal Community Bank | $25,000 | n/a | 0.0% |
Sonora's top lender by overall market share is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 20.5% market share. In second place, with 13.6%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $32,860,000 in loans. In third place, with 9.5%, is QUICKEN LOANS, LLC, having originated $22,955,000 in loans. In fourth place, with 2.7%, is AMERICAN PACIFIC MORTGAGE CORPORATION, having originated $6,505,000 in loans. In fifth place, with 2.1%, is Bank of America, having originated $5,120,000 in loans.
Sonora, CA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 593 | $184,945,000 | $311,880 |
| Cash Out Refi | 113 | $26,825,000 | $237,389 |
| Home Improvement | 71 | $6,965,000 | $98,099 |
| Other | 68 | $10,620,000 | $156,176 |
| Refi | 48 | $11,840,000 | $246,667 |
Sonora's most frequently cited loan purpose was Home Purchase, with 593 originations. The 2nd most popular reason was Cash Out Refi, with 113 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 338 | $103,810,000 | $307,130 |
| 7-8% | 247 | $67,325,000 | $272,571 |
| Over 8% | 150 | $23,530,000 | $156,867 |
| 5-6% | 125 | $41,485,000 | $331,880 |
| <2.5% | 8 | $80,000 | $10,000 |
| 4-5% | 3 | $715,000 | $238,333 |
| 3-4% | 1 | $115,000 | $115,000 |
| 2.5-3% | 1 | $75,000 | $75,000 |
During 2023, Sonora's most frequently originated rate bucket was 6-7%, with 338 originations.
Loan Sizing (Sonora, CA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 431 | $126,525,000 | $293,561 |
| $100k-200k | 188 | $27,430,000 | $145,904 |
| $400k-600k | 122 | $56,820,000 | $465,738 |
| $100,000 or less | 121 | $6,865,000 | $56,736 |
| $600k-1000k | 27 | $18,235,000 | $675,370 |
| $Over $1MM | 4 | $5,320,000 | $1,330,000 |
Sonora's loan sizing saw the bucket of loans from $200k-400k with 431 originations, totaling $126,525,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 308 | $109,770,000 | $356,396 |
| 60-80% | 218 | $71,310,000 | $327,110 |
| 40-60% | 119 | $29,165,000 | $245,084 |
| Under 20% | 111 | $7,355,000 | $66,261 |
| 20-40% | 106 | $15,560,000 | $146,792 |
| Over 100% | 10 | $3,620,000 | $362,000 |
Sonora's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 308 originations, totaling $109,770,000 in origination value.