Van Wert Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Van Wert averaged
6.73%
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
6.76% and
one month ago for the week of 2024-10-03, the
average rate was 6.36%.
Van Wert's average rate one year ago was 7.7%.
For refis of the same type during the week of 2024-11-07, the average rate
was 7.09%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-11-07 | 6.79% |
| Van Wert 30 Year Fixed Rate | 2024-11-07 | 6.73% |
| Van Wert 30 Year Fixed Rate Refi | 2024-11-07 | 7.09% |
| Van Wert 15 Year Fixed Rate | 2024-11-07 | 5.8% |
| Van Wert 15 Year Fixed Rate Refi | 2024-11-07 | 6.2% |
| Van Wert 30 Year FHA | 2024-11-07 | 6.63% |
| Van Wert 30 Year FHA Refi | 2024-11-07 | 6.33% |
| Van Wert 30 Year USDA | 2024-11-07 | 6.38% |
| Van Wert 30 Year USDA Refi | 2024-11-07 | 6.48% |
| Van Wert 30 Year VA | 2024-11-07 | 6.54% |
| Van Wert 30 Year VA Refi | 2024-11-07 | 6.44% |
Van Wert 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 Van Wert, OH 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.).
Van Wert Average Closing Costs & Other Stats
Van Wert, OH's 33 lenders originated 372
loans during 2023. The total origination value was $50,570,000, with an average loan value of
$135,941.
Van Wert's average closing costs are $3,896.
The top Van Wert lender as defined by loan originations is Superior Credit Union, Inc., with
24 loans originated. Their average total fees are
$3,220, which is $419
lower than the next largest lender,
The Union Bank Company.
The lowest fee Van Wert lenders (with over 10 loans originated) are
The Citizens National Bank of Bluffton ($3,105), Superior Credit Union, Inc. ($3,220), The Union Bank Company ($3,639), U.S. Bank ($3,639) and First Financial Bank ($3,975).
The lowest rate Van Wert lenders (with over 10 loans originated) are
The Union Bank Company (6.52%), Superior Credit Union, Inc. (6.82%), The Citizens National Bank of Bluffton (6.83%), U.S. Bank (6.90%) and First Financial Bank (7.25%).
Van Wert, OH 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 |
|---|---|---|---|---|
| Superior Credit Union, Inc. | $6,520,000 | $7,520,000 | 15.3% | 14.9% |
| The Citizens National Bank of Bluffton | $2,410,000 | $3,900,000 | 61.8% | 7.7% |
| Minster Bank | $455,000 | $2,850,000 | 526.4% | 5.6% |
| The Union Bank Company | $3,210,000 | $2,540,000 | -20.9% | 5.0% |
| First Financial Bank | $2,365,000 | $2,430,000 | 2.7% | 4.8% |
| CROSSCOUNTRY MORTGAGE, LLC | $2,490,000 | $2,260,000 | -9.2% | 4.5% |
| U.S. Bank | $3,480,000 | $2,250,000 | -35.3% | 4.4% |
| QUICKEN LOANS, LLC | $4,090,000 | $1,910,000 | -53.3% | 3.8% |
| First Bank of Berne | $3,355,000 | $1,365,000 | -59.3% | 2.7% |
| First Federal Bank of the Midwest | $3,155,000 | $1,255,000 | -60.2% | 2.5% |
| AG Credit, Agricultural Credit Association | $1,265,000 | $1,145,000 | -9.5% | 2.3% |
| The Huntington National Bank | $1,065,000 | $1,145,000 | 7.5% | 2.3% |
| NEWREZ LLC | $125,000 | $1,100,000 | 780.0% | 2.2% |
| Farm Credit Mid-America, ACA | $1,505,000 | $1,045,000 | -30.6% | 2.1% |
| Fifth Third Bank | $725,000 | $980,000 | 35.2% | 1.9% |
| The Farmers & Merchants State Bank | $1,010,000 | $855,000 | -15.3% | 1.7% |
| SUPERIOR FINANCIAL SOLUTIONS, LLC | $850,000 | n/a | 1.7% | |
| JPMorgan Chase Bank | $105,000 | $760,000 | 623.8% | 1.5% |
| LOANDEPOT.COM, LLC | $1,430,000 | $690,000 | -51.7% | 1.4% |
| Wells Fargo Bank | $755,000 | $685,000 | -9.3% | 1.4% |
| Mortgage Research Center, LLC | $1,950,000 | $675,000 | -65.4% | 1.3% |
| AMERISAVE MORTGAGE CORPORATION | $990,000 | $565,000 | -42.9% | 1.1% |
| Carrington Mortgage Services, LLC | $95,000 | $560,000 | 489.5% | 1.1% |
| Civista Bank | $25,000 | $540,000 | 2,060.0% | 1.1% |
| Union Savings Bank | $265,000 | $505,000 | 90.6% | 1.0% |
| Flagstar Bank, FSB | $1,530,000 | $490,000 | -68.0% | 1.0% |
| The State Bank and Trust Company | $880,000 | $455,000 | -48.3% | 0.9% |
| Three Rivers Federal Credit Union | $2,570,000 | $415,000 | -83.9% | 0.8% |
| FREEDOM MORTGAGE CORPORATION | $350,000 | $410,000 | 17.1% | 0.8% |
| UNITED WHOLESALE MORTGAGE, LLC | $125,000 | $380,000 | 204.0% | 0.8% |
| Equity Prime Mortgage LLC | $355,000 | $370,000 | 4.2% | 0.7% |
| CRESCENT MORTGAGE COMPANY | $360,000 | n/a | 0.7% | |
| Lake City Bank | $360,000 | $355,000 | -1.4% | 0.7% |
| NAVY FEDERAL CREDIT UNION | $780,000 | $345,000 | -55.8% | 0.7% |
| PARTNERS 1ST Federal Credit Union | $345,000 | n/a | 0.7% | |
| PENNYMAC LOAN SERVICES, LLC | $340,000 | n/a | 0.7% | |
| HOMESIDE FINANCIAL, LLC | $215,000 | $330,000 | 53.5% | 0.7% |
| V.I.P. MORTGAGE, INC. | $305,000 | $325,000 | 6.6% | 0.6% |
| RUOFF MORTGAGE COMPANY, INC. | $210,000 | $320,000 | 52.4% | 0.6% |
| Nations Lending Corporation | $135,000 | $295,000 | 118.5% | 0.6% |
| TOWNE MORTGAGE COMPANY | $275,000 | n/a | 0.5% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $185,000 | $265,000 | 43.2% | 0.5% |
| PENTAGON FEDERAL CREDIT UNION | $45,000 | $245,000 | 444.4% | 0.5% |
| BROKER SOLUTIONS, INC. | $85,000 | $235,000 | 176.5% | 0.5% |
| NEW DAY FINANCIAL, LLC | $125,000 | $215,000 | 72.0% | 0.4% |
| AMERICAN FINANCIAL RESOURCES, INC. | $185,000 | n/a | 0.4% | |
| GUARANTEED RATE, INC. | $185,000 | n/a | 0.4% | |
| POLARIS HOME FUNDING CORP. | $145,000 | $185,000 | 27.6% | 0.4% |
| ProFed Federal Credit Union | $55,000 | $185,000 | 236.4% | 0.4% |
| THRIVE MORTGAGE, LLC | $185,000 | n/a | 0.4% | |
| Servion, Inc. | $175,000 | n/a | 0.3% | |
| First Merchants Bank | $100,000 | $170,000 | 70.0% | 0.3% |
| The Federal Savings Bank | $150,000 | n/a | 0.3% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $135,000 | n/a | 0.3% | |
| MID AMERICA MORTGAGE, INC. | $160,000 | $135,000 | -15.6% | 0.3% |
| SIWELL, INC. | $105,000 | $135,000 | 28.6% | 0.3% |
| Northpointe Bank | $115,000 | n/a | 0.2% | |
| UNION HOME MORTGAGE CORP. | $220,000 | $115,000 | -47.7% | 0.2% |
| WesBanco | $115,000 | n/a | 0.2% | |
| Ameris Bank | $450,000 | $105,000 | -76.7% | 0.2% |
| RAPID MORTGAGE COMPANY | $105,000 | n/a | 0.2% | |
| LAKEVIEW LOAN SERVICING, LLC | $95,000 | n/a | 0.2% | |
| The Middlefield Banking Company | $85,000 | n/a | 0.2% | |
| Western Ohio Mortgage Corporation | $85,000 | n/a | 0.2% | |
| Willamette Valley Bank | $85,000 | n/a | 0.2% | |
| Deere Employees Credit Union | $80,000 | n/a | 0.2% | |
| Coastal Community Bank | $75,000 | n/a | 0.1% | |
| HONDA Federal Credit Union | $75,000 | $60,000 | -20.0% | 0.1% |
| CHERRY CREEK MORTGAGE, LLC | $55,000 | n/a | 0.1% | |
| KEMBA FINANCIAL | $45,000 | n/a | 0.1% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $45,000 | n/a | 0.1% | |
| 21ST MORTGAGE CORPORATION | $25,000 | $35,000 | 40.0% | 0.1% |
| Bank of America | $35,000 | n/a | 0.1% | |
| MIDWEST AMERICA | $135,000 | $35,000 | -74.1% | 0.1% |
| Figure Lending LLC | $60,000 | $25,000 | -58.3% | 0.0% |
| Home Loan Investment Bank, F.S.B. | $15,000 | $25,000 | 66.7% | 0.0% |
| The Park National Bank | $25,000 | n/a | 0.0% | |
| Citizens Bank | $155,000 | $15,000 | -90.3% | 0.0% |
Van Wert's top lender by overall market share is Superior Credit Union, Inc., with 14.9% market share. In second place, with 7.7%, is The Citizens National Bank of Bluffton, having originated $3,900,000 in loans. In third place, with 5.6%, is Minster Bank, having originated $2,850,000 in loans. In fourth place, with 5.0%, is The Union Bank Company, having originated $2,540,000 in loans. In fifth place, with 4.8%, is First Financial Bank, having originated $2,430,000 in loans.
Van Wert, OH Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 215 | $38,965,000 | $181,233 |
| Other | 45 | $2,445,000 | $54,333 |
| Cash Out Refi | 44 | $4,680,000 | $106,364 |
| Home Improvement | 40 | $1,910,000 | $47,750 |
| Refi | 28 | $2,570,000 | $91,786 |
Van Wert's most frequently cited loan purpose was Home Purchase, with 215 originations. The 2nd most popular reason was Other, with 45 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 138 | $20,910,000 | $151,522 |
| 7-8% | 110 | $14,990,000 | $136,273 |
| Over 8% | 72 | $5,700,000 | $79,167 |
| 5-6% | 37 | $7,315,000 | $197,703 |
| <2.5% | 5 | $25,000 | $5,000 |
| 4-5% | 1 | $135,000 | $135,000 |
| 3-4% | 1 | $105,000 | $105,000 |
During 2023, Van Wert's most frequently originated rate bucket was 6-7%, with 138 originations.
Loan Sizing (Van Wert, OH MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 161 | $8,215,000 | $51,025 |
| $100k-200k | 153 | $21,515,000 | $140,621 |
| $200k-400k | 49 | $12,635,000 | $257,857 |
| $400k-600k | 6 | $2,790,000 | $465,000 |
| $Over $1MM | 2 | $4,740,000 | $2,370,000 |
| $600k-1000k | 1 | $675,000 | $675,000 |
Van Wert's loan sizing saw the bucket of loans from $100,000 or less with 161 originations, totaling $8,215,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 170 | $26,160,000 | $153,882 |
| 60-80% | 63 | $12,995,000 | $206,270 |
| 20-40% | 50 | $2,870,000 | $57,400 |
| Under 20% | 45 | $1,065,000 | $23,667 |
| 40-60% | 29 | $3,075,000 | $106,034 |
| Over 100% | 6 | $2,990,000 | $498,333 |
Van Wert's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 170 originations, totaling $26,160,000 in origination value.