Sterling Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Sterling averaged
6.68%
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
6.51% and
one month ago for the week of 2024-10-03, the
average rate was 6.01%.
Sterling's average rate one year ago was 7.85%.
For refis of the same type during the week of 2024-11-07, the average rate
was 6.69%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Sterling 30 Year Fixed Rate | 2024-11-07 | 6.68% |
| Sterling 30 Year Fixed Rate Refi | 2024-11-07 | 6.69% |
| Sterling 15 Year Fixed Rate | 2024-11-07 | 5.8% |
| Sterling 15 Year Fixed Rate Refi | 2024-11-07 | 6.6% |
| Sterling 30 Year FHA | 2024-11-07 | 6.33% |
| Sterling 30 Year FHA Refi | 2024-11-07 | 6.53% |
| Sterling 30 Year USDA | 2024-11-07 | 6.28% |
| Sterling 30 Year USDA Refi | 2024-11-07 | 6.48% |
| Sterling 30 Year VA | 2024-11-07 | 6.44% |
| Sterling 30 Year VA Refi | 2024-11-07 | 6.24% |
Sterling 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 Sterling, CO 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.).
Sterling Average Closing Costs & Other Stats
Sterling, CO's 37 lenders originated 354
loans during 2023. The total origination value was $64,000,000, with an average loan value of
$180,791.
Sterling's average closing costs are $5,141.
The top Sterling lender as defined by loan originations is Bank of Colorado, with
32 loans originated. Their average total fees are
$5,753, which is $611
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Sterling lenders (with over 10 loans originated) are
Bank of Colorado ($5,753), UNITED WHOLESALE MORTGAGE, LLC ($6,057), QUICKEN LOANS, LLC ($6,364), .
The lowest rate Sterling lenders (with over 10 loans originated) are
Bank of Colorado (6.61%), QUICKEN LOANS, LLC (6.98%), UNITED WHOLESALE MORTGAGE, LLC (7.16%), .
Sterling, CO 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 |
|---|---|---|---|---|
| Bank of Colorado | $22,475,000 | $18,145,000 | -19.3% | 28.4% |
| QUICKEN LOANS, LLC | $5,870,000 | $5,080,000 | -13.5% | 7.9% |
| UNITED WHOLESALE MORTGAGE, LLC | $5,795,000 | $4,590,000 | -20.8% | 7.2% |
| GUILD MORTGAGE COMPANY | $2,565,000 | $2,625,000 | 2.3% | 4.1% |
| Independent Bank | $1,835,000 | $2,015,000 | 9.8% | 3.1% |
| EQUITABLE SAVINGS AND LOAN ASSOCIATION | $4,635,000 | $1,980,000 | -57.3% | 3.1% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $3,475,000 | $1,635,000 | -52.9% | 2.6% |
| LENDINGHOME FUNDING CORPORATION | $435,000 | $1,380,000 | 217.2% | 2.2% |
| BMO Harris Bank | $1,195,000 | n/a | 1.9% | |
| AMERICAN FINANCING CORPORATION | $4,240,000 | $1,060,000 | -75.0% | 1.7% |
| Mr. Cooper ( Nationstar Mortgage ) | $220,000 | $940,000 | 327.3% | 1.5% |
| Ent Credit Union | $910,000 | n/a | 1.4% | |
| BROKER SOLUTIONS, INC. | $475,000 | $850,000 | 78.9% | 1.3% |
| PENNYMAC LOAN SERVICES, LLC | $695,000 | $780,000 | 12.2% | 1.2% |
| Wells Fargo Bank | $730,000 | $675,000 | -7.5% | 1.1% |
| Mortgage Research Center, LLC | $1,880,000 | $665,000 | -64.6% | 1.0% |
| V.I.P. MORTGAGE, INC. | $625,000 | n/a | 1.0% | |
| CROSSCOUNTRY MORTGAGE, LLC | $1,015,000 | $565,000 | -44.3% | 0.9% |
| Equity Prime Mortgage LLC | $560,000 | n/a | 0.9% | |
| Carrington Mortgage Services, LLC | $515,000 | $550,000 | 6.8% | 0.9% |
| The Huntington National Bank | $545,000 | n/a | 0.9% | |
| Elevations Credit Union | $95,000 | $530,000 | 457.9% | 0.8% |
| First FarmBank | $525,000 | n/a | 0.8% | |
| UNIVERSAL LENDING CORPORATION | $1,600,000 | $485,000 | -69.7% | 0.8% |
| S1L, Inc. | $1,045,000 | $465,000 | -55.5% | 0.7% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $1,285,000 | $460,000 | -64.2% | 0.7% |
| FREEDOM MORTGAGE CORPORATION | $875,000 | $450,000 | -48.6% | 0.7% |
| CREDIT UNION OF COLORADO, A FEDERAL CREDIT UNION | $260,000 | $440,000 | 69.2% | 0.7% |
| Farm Credit Mid-America, ACA | $415,000 | n/a | 0.6% | |
| Financial Funding Solutions, Inc. | $1,760,000 | $390,000 | -77.8% | 0.6% |
| AMERISAVE MORTGAGE CORPORATION | $925,000 | $385,000 | -58.4% | 0.6% |
| CARDINAL FINANCIAL | $375,000 | n/a | 0.6% | |
| AMERICAN FINANCIAL NETWORK, INC. | $355,000 | n/a | 0.6% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $490,000 | $350,000 | -28.6% | 0.5% |
| USAA Federal Savings Bank | $350,000 | n/a | 0.5% | |
| First Western Trust Bank | $405,000 | $335,000 | -17.3% | 0.5% |
| Points West Community Bank | $485,000 | $330,000 | -32.0% | 0.5% |
| LOANPAL, LLC | $690,000 | $320,000 | -53.6% | 0.5% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $115,000 | $315,000 | 173.9% | 0.5% |
| Discover Bank | $180,000 | $305,000 | 69.4% | 0.5% |
| NOVA FINANCIAL & INVESTMENT CORPORATION | $405,000 | $300,000 | -25.9% | 0.5% |
| AMCAP MORTGAGE, LTD. | $175,000 | $295,000 | 68.6% | 0.5% |
| Paramount Residential Mortgage Group, Inc. | $830,000 | $290,000 | -65.1% | 0.5% |
| Ally Bank | $285,000 | n/a | 0.4% | |
| Merchants Mortgage & Trust Corporation | $250,000 | n/a | 0.4% | |
| LAKEVIEW LOAN SERVICING, LLC | $665,000 | $235,000 | -64.7% | 0.4% |
| Citizens Bank | $225,000 | n/a | 0.4% | |
| EVERETT FINANCIAL, INC. | $440,000 | $225,000 | -48.9% | 0.4% |
| IDEAL HOME LOANS LLC | $225,000 | n/a | 0.4% | |
| Loan Simple, Inc. | $490,000 | $225,000 | -54.1% | 0.4% |
| Nations Lending Corporation | $185,000 | $225,000 | 21.6% | 0.4% |
| NBH Bank | $535,000 | $225,000 | -57.9% | 0.4% |
| ZILLOW HOME LOANS, LLC | $225,000 | n/a | 0.4% | |
| BOKF | $580,000 | $220,000 | -62.1% | 0.3% |
| LAND HOME FINANCIAL SERVICES, INC. | $215,000 | n/a | 0.3% | |
| CITYWIDE HOME LOANS, LLC | $175,000 | $205,000 | 17.1% | 0.3% |
| COLORADO CREDIT UNION | $205,000 | n/a | 0.3% | |
| NATIONS RELIABLE LENDING, LLC | $205,000 | n/a | 0.3% | |
| The Loan Store, Inc. | $205,000 | n/a | 0.3% | |
| TOWNE MORTGAGE COMPANY | $205,000 | n/a | 0.3% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $200,000 | n/a | 0.3% | |
| CIVIC FINANCIAL SERVICES, LLC | $800,000 | $195,000 | -75.6% | 0.3% |
| Jonah Bank of Wyoming | $195,000 | n/a | 0.3% | |
| M&T Bank | $195,000 | n/a | 0.3% | |
| BAY EQUITY LLC | $185,000 | n/a | 0.3% | |
| CMG MORTGAGE, INC. | $400,000 | $185,000 | -53.8% | 0.3% |
| Sunflower Bank | $245,000 | $185,000 | -24.5% | 0.3% |
| Waterstone Mortgage Corporation | $185,000 | n/a | 0.3% | |
| SPRING EQ, LLC | $160,000 | n/a | 0.3% | |
| MICHIGAN MUTUAL, INC. | $155,000 | n/a | 0.2% | |
| 21ST MORTGAGE CORPORATION | $150,000 | n/a | 0.2% | |
| MOUNTAIN WEST FINANCIAL, INC. | $150,000 | n/a | 0.2% | |
| CENTENNIAL LENDING, LLC | $185,000 | $135,000 | -27.0% | 0.2% |
| OCEANSIDE MORTGAGE COMPANY | $125,000 | n/a | 0.2% | |
| SECURITY SERVICE | $65,000 | $110,000 | 69.2% | 0.2% |
| PLANET HOME LENDING, LLC | $350,000 | $105,000 | -70.0% | 0.2% |
| First Western Federal Savings Bank | $95,000 | n/a | 0.1% | |
| Ixonia Bank | $95,000 | n/a | 0.1% | |
| U.S. Bank | $200,000 | $75,000 | -62.5% | 0.1% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $215,000 | $75,000 | -65.1% | 0.1% |
| Credit Union of Denver | $65,000 | n/a | 0.1% | |
| KeyBank | $290,000 | $60,000 | -79.3% | 0.1% |
| CANVAS CREDIT UNION | $290,000 | $55,000 | -81.0% | 0.1% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $55,000 | n/a | 0.1% | |
| NAVY FEDERAL CREDIT UNION | $795,000 | $55,000 | -93.1% | 0.1% |
| Weld Schools Credit Union | $55,000 | n/a | 0.1% | |
| Sooper Credit Union | $45,000 | n/a | 0.1% | |
| BELLCO | $250,000 | $40,000 | -84.0% | 0.1% |
| Figure Lending LLC | $110,000 | $15,000 | -86.4% | 0.0% |
Sterling's top lender by overall market share is Bank of Colorado, with 28.4% market share. In second place, with 7.9%, is QUICKEN LOANS, LLC, having originated $5,080,000 in loans. In third place, with 7.2%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $4,590,000 in loans. In fourth place, with 4.1%, is GUILD MORTGAGE COMPANY, having originated $2,625,000 in loans. In fifth place, with 3.1%, is Independent Bank, having originated $2,015,000 in loans.
Sterling, CO Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 234 | $47,900,000 | $204,701 |
| Cash Out Refi | 44 | $8,020,000 | $182,273 |
| Other | 28 | $2,190,000 | $78,214 |
| Home Improvement | 25 | $1,955,000 | $78,200 |
| Refi | 23 | $3,935,000 | $171,087 |
Sterling's most frequently cited loan purpose was Home Purchase, with 234 originations. The 2nd most popular reason was Cash Out Refi, with 44 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 114 | $26,120,000 | $229,123 |
| 7-8% | 83 | $16,535,000 | $199,217 |
| Over 8% | 66 | $7,030,000 | $106,515 |
| 5-6% | 51 | $10,925,000 | $214,216 |
| <2.5% | 12 | $100,000 | $8,333 |
| 4-5% | 1 | $165,000 | $165,000 |
| 3-4% | 1 | $115,000 | $115,000 |
| 2.5-3% | 1 | $15,000 | $15,000 |
During 2023, Sterling's most frequently originated rate bucket was 6-7%, with 114 originations.
Loan Sizing (Sterling, CO MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 134 | $36,410,000 | $271,716 |
| $100k-200k | 118 | $18,310,000 | $155,169 |
| $100,000 or less | 92 | $4,680,000 | $50,870 |
| $400k-600k | 10 | $4,600,000 | $460,000 |
Sterling's loan sizing saw the bucket of loans from $200k-400k with 134 originations, totaling $36,410,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 138 | $32,040,000 | $232,174 |
| 60-80% | 88 | $18,620,000 | $211,591 |
| Under 20% | 45 | $1,505,000 | $33,444 |
| 40-60% | 27 | $5,005,000 | $185,370 |
| 20-40% | 26 | $2,410,000 | $92,692 |
| Over 100% | 6 | $1,390,000 | $231,667 |
Sterling's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 138 originations, totaling $32,040,000 in origination value.