Wabash Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Wabash averaged 6.93% 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 6.06%.

    Wabash's average rate one year ago was 7.9%.

    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%
    Wabash 30 Year Fixed Rate 2024-11-07 6.93%
    Wabash 30 Year Fixed Rate Refi 2024-11-07 7.19%
    Wabash 15 Year Fixed Rate 2024-11-07 6.1%
    Wabash 15 Year Fixed Rate Refi 2024-11-07 6%
    Wabash 30 Year FHA 2024-11-07 6.23%
    Wabash 30 Year FHA Refi 2024-11-07 6.23%
    Wabash 30 Year USDA 2024-11-07 6.58%
    Wabash 30 Year USDA Refi 2024-11-07 6.58%
    Wabash 30 Year VA 2024-11-07 6.44%
    Wabash 30 Year VA Refi 2024-11-07 6.54%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Wabash, IN.

    Wabash 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 Wabash, IN 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.).

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Crossroads Bank 62 6.26% $1,579
    BEACON CREDIT UNION 27 6.33% $2,070
    RUOFF MORTGAGE COMPANY, INC. 24 6.76% $2,491
    NEWREZ LLC 9 7.00% $3,157
    First Farmers Bank and Trust Company 9 7.19% $2,079
    QUICKEN LOANS, LLC 8 6.59% $4,717
    First Merchants Bank 7 6.86% $2,845
    Flagstar Bank, FSB 7 6.86% $3,894
    TEACHERS CREDIT UNION 5 7.38% $3,520
    MOVEMENT MORTGAGE, LLC 5 7.55% $4,472
    First Federal Savings Bank 5 6.75% $2,175
    UNION HOME MORTGAGE CORP. 5 7.43% $3,619
    First Federal Savings Bank 4 7.41% $2,617
    UNITED WHOLESALE MORTGAGE, LLC 3 6.83% $4,067
    HALLMARK HOME MORTGAGE, LLC 3 7.41% $4,400
    Regions Bank 2 7.19% $2,584
    AmeriHome Mortgage Company, LLC 2 6.63% $4,454
    Farm Credit Mid-America, ACA 2 7.13% $5,749
    GVC MORTGAGE, INC. 2 7.43% $2,356
    LOANDEPOT.COM, LLC 2 7.13% $5,129
    Mortgage Research Center, LLC 2 7.06% $1,907
    NAVY FEDERAL CREDIT UNION 2 6.81% $1,192
    PNC Bank 2 6.88% $2,493
    Three Rivers Federal Credit Union 2 6.88% $2,238
    THRIVE MORTGAGE, LLC 2 7.25% $2,472
    American Mortgage & Equity Consultants, Inc. 1 7.13% $919
    MILESTONE HOME LENDING, LLC 1 7.25% $3,701
    Union Savings Bank 1 5.25% $528
    Discover Bank 1 7.24% $0
    Nations Lending Corporation 1 7.88% $3,730
    AMERICAN FINANCING CORPORATION 1 6.99% $5,148
    NBKC BANK 1 6.75% $1,768
    CARDINAL FINANCIAL 1 5.99% $7,797
    Northpointe Bank 1 7.88% $3,780
    Northwest Bank 1 7.50% $1,214
    PARTNERS 1ST Federal Credit Union 1 4.25% $2,405
    Wells Fargo Bank 1 7.13% $2,648
    POLARIS HOME FUNDING CORP. 1 7.13% $5,160
    PURDUE FEDERAL CREDIT UNION 1 5.25% $2,218
    BROKER SOLUTIONS, INC. 1 7.63% $5,221
    1st Source Bank 1 7.63% $1,782
    Baxter Credit Union 1 6.88% $5,740
    STAR Financial Bank 1 7.50% $1,516
    AMERISAVE MORTGAGE CORPORATION 1 6.63% $5,192
    The Huntington National Bank 1 5.88% $5,038
    Wolfe Financial, Inc 1 6.13% $2,265
    First Financial Bank 1 6.50% $2,390
    Fire Police City County Federal Credit Union 1 7.88% $2,604
    Fifth Third Bank 1 7.00% $4,639
    ZILLOW HOME LOANS, LLC 1 6.50% $4,659
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.99% $2,633
    Horizon Bank 1 8.25% $2,013
    Lake City Bank 1 7.50% $2,646

    Wabash Average Closing Costs & Other Stats

    Wabash, IN's 53 lenders originated 600 loans during 2023. The total origination value was $82,490,000, with an average loan value of $137,483.

    Wabash's average closing costs are $3,253.

    The top Wabash lender as defined by loan originations is Crossroads Bank, with 62 loans originated. Their average total fees are $1,579, which is $491 lower than the next largest lender, BEACON CREDIT UNION.

    The lowest fee Wabash lenders (with over 10 loans originated) are Crossroads Bank ($1,579), BEACON CREDIT UNION ($2,070), RUOFF MORTGAGE COMPANY, INC. ($2,491), .

    The lowest rate Wabash lenders (with over 10 loans originated) are Crossroads Bank (6.26%), BEACON CREDIT UNION (6.33%), RUOFF MORTGAGE COMPANY, INC. (6.76%), .

    Wabash, IN 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
    Crossroads Bank $24,120,000 $16,725,000 -30.7% 20.3%
    BEACON CREDIT UNION $8,695,000 $7,215,000 -17.0% 8.7%
    RUOFF MORTGAGE COMPANY, INC. $10,380,000 $6,800,000 -34.5% 8.2%
    First Merchants Bank $3,210,000 $4,510,000 40.5% 5.5%
    QUICKEN LOANS, LLC $4,190,000 $3,030,000 -27.7% 3.7%
    NEWREZ LLC $2,380,000 $2,755,000 15.8% 3.3%
    First Farmers Bank and Trust Company $1,735,000 $2,375,000 36.9% 2.9%
    First Federal Savings Bank $55,000 $1,980,000 3,500.0% 2.4%
    Mortgage Research Center, LLC $970,000 $1,770,000 82.5% 2.1%
    Community First Bank of Indiana $45,000 $1,715,000 3,711.1% 2.1%
    Flagstar Bank, FSB $1,080,000 $1,670,000 54.6% 2.0%
    UNION HOME MORTGAGE CORP. $375,000 $1,455,000 288.0% 1.8%
    UNITED WHOLESALE MORTGAGE, LLC $445,000 $1,160,000 160.7% 1.4%
    TEACHERS CREDIT UNION $325,000 $1,155,000 255.4% 1.4%
    GVC MORTGAGE, INC. $775,000 $1,075,000 38.7% 1.3%
    Lake City Bank $3,750,000 $1,050,000 -72.0% 1.3%
    Old National Bank $995,000 n/a 1.2%
    MOVEMENT MORTGAGE, LLC $975,000 n/a 1.2%
    HALLMARK HOME MORTGAGE, LLC $2,460,000 $915,000 -62.8% 1.1%
    21ST MORTGAGE CORPORATION $860,000 n/a 1.0%
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $455,000 $775,000 70.3% 0.9%
    First Federal Savings Bank $55,000 $725,000 1,218.2% 0.9%
    Northpointe Bank $725,000 n/a 0.9%
    NAVY FEDERAL CREDIT UNION $195,000 $690,000 253.8% 0.8%
    Nations Lending Corporation $750,000 $640,000 -14.7% 0.8%
    The Federal Savings Bank $625,000 n/a 0.8%
    Three Rivers Federal Credit Union $1,565,000 $615,000 -60.7% 0.7%
    NBKC BANK $580,000 n/a 0.7%
    USAA Federal Savings Bank $310,000 $570,000 83.9% 0.7%
    THRIVE MORTGAGE, LLC $560,000 n/a 0.7%
    Farm Credit Mid-America, ACA $330,000 $550,000 66.7% 0.7%
    Mr. Cooper ( Nationstar Mortgage ) $485,000 $550,000 13.4% 0.7%
    PARTNERS 1ST Federal Credit Union $815,000 $545,000 -33.1% 0.7%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,930,000 $530,000 -72.5% 0.6%
    PNC Bank $980,000 $505,000 -48.5% 0.6%
    CALIBER HOME LOANS, INC. $260,000 $495,000 90.4% 0.6%
    STAR Financial Bank $755,000 $475,000 -37.1% 0.6%
    PLAZA HOME MORTGAGE, INC. $940,000 $470,000 -50.0% 0.6%
    Horizon Bank $205,000 $465,000 126.8% 0.6%
    GENEVA FINANCIAL, LLC $430,000 n/a 0.5%
    LOANDEPOT.COM, LLC $1,115,000 $390,000 -65.0% 0.5%
    AmeriHome Mortgage Company, LLC $125,000 $380,000 204.0% 0.5%
    MIDWEST AMERICA $145,000 $380,000 162.1% 0.5%
    The Huntington National Bank $1,140,000 $370,000 -67.5% 0.4%
    CARDINAL FINANCIAL $145,000 $350,000 141.4% 0.4%
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION $375,000 $350,000 -6.7% 0.4%
    First Financial Bank $840,000 $340,000 -59.5% 0.4%
    STOCKTON MORTGAGE CORPORATION $250,000 $330,000 32.0% 0.4%
    Discover Bank $310,000 n/a 0.4%
    Wells Fargo Bank $55,000 $295,000 436.4% 0.4%
    CROSSCOUNTRY MORTGAGE, LLC $300,000 $280,000 -6.7% 0.3%
    BROKER SOLUTIONS, INC. $570,000 $270,000 -52.6% 0.3%
    Fifth Third Bank $55,000 $260,000 372.7% 0.3%
    POLARIS HOME FUNDING CORP. $795,000 $260,000 -67.3% 0.3%
    FIDELITY BANK $245,000 n/a 0.3%
    GUARANTEED RATE, INC. $1,170,000 $245,000 -79.1% 0.3%
    U.S. Bank $245,000 n/a 0.3%
    PENNYMAC LOAN SERVICES, LLC $360,000 $240,000 -33.3% 0.3%
    FREEDOM MORTGAGE CORPORATION $1,060,000 $230,000 -78.3% 0.3%
    Regions Bank $360,000 $220,000 -38.9% 0.3%
    Prosperity Home Mortgage, LLC $205,000 n/a 0.2%
    V.I.P. MORTGAGE, INC. $205,000 n/a 0.2%
    Wolfe Financial, Inc $205,000 n/a 0.2%
    Notre Dame Federal Credit Union Corporation $175,000 n/a 0.2%
    Northwest Bank $240,000 $170,000 -29.2% 0.2%
    American Mortgage & Equity Consultants, Inc. $165,000 n/a 0.2%
    PURDUE FEDERAL CREDIT UNION $330,000 $165,000 -50.0% 0.2%
    Union Savings Bank $165,000 n/a 0.2%
    FLAT BRANCH MORTGAGE, INC. $175,000 $160,000 -8.6% 0.2%
    Town Square Mortgage & Investments, Inc. $155,000 n/a 0.2%
    Waterstone Mortgage Corporation $155,000 n/a 0.2%
    1st Source Bank $305,000 $150,000 -50.8% 0.2%
    AMERICAN FINANCING CORPORATION $605,000 $150,000 -75.2% 0.2%
    EVERETT FINANCIAL, INC. $150,000 n/a 0.2%
    LAKEVIEW LOAN SERVICING, LLC $540,000 $145,000 -73.1% 0.2%
    CLEARPATH LENDING $195,000 $135,000 -30.8% 0.2%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $135,000 n/a 0.2%
    SPRING EQ, LLC $135,000 n/a 0.2%
    VILLAGE CAPITAL MORTGAGE $125,000 n/a 0.2%
    AMERISAVE MORTGAGE CORPORATION $420,000 $115,000 -72.6% 0.1%
    JPMorgan Chase Bank $1,280,000 $115,000 -91.0% 0.1%
    VELOCITY COMMERCIAL CAPITAL, LLC $115,000 n/a 0.1%
    ZILLOW HOME LOANS, LLC $115,000 n/a 0.1%
    Baxter Credit Union $715,000 $105,000 -85.3% 0.1%
    Fire Police City County Federal Credit Union $105,000 n/a 0.1%
    Barrington Bank & Trust Company, N.A. $95,000 $95,000 0.0% 0.1%
    ProFed Federal Credit Union $170,000 $90,000 -47.1% 0.1%
    MUTUAL OF OMAHA MORTGAGE, INC. $780,000 $85,000 -89.1% 0.1%
    First Option Mortgage, LLC $75,000 n/a 0.1%
    MILESTONE HOME LENDING, LLC $75,000 n/a 0.1%
    Figure Lending LLC $115,000 $40,000 -65.2% 0.0%
    FINANCIAL BUILDERS Federal Credit Union $15,000 $35,000 133.3% 0.0%
    INDIANA MEMBERS CREDIT UNION $15,000 $35,000 133.3% 0.0%

    Wabash's top lender by overall market share is Crossroads Bank, with 20.3% market share. In second place, with 8.7%, is BEACON CREDIT UNION, having originated $7,215,000 in loans. In third place, with 8.2%, is RUOFF MORTGAGE COMPANY, INC., having originated $6,800,000 in loans. In fourth place, with 5.5%, is First Merchants Bank, having originated $4,510,000 in loans. In fifth place, with 3.7%, is QUICKEN LOANS, LLC, having originated $3,030,000 in loans.

    Wabash, IN Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 336 $56,340,000 $167,679
    Cash Out Refi 125 $14,095,000 $112,760
    Other 51 $3,705,000 $72,647
    Home Improvement 44 $2,330,000 $52,955
    Refi 44 $6,020,000 $136,818

    Wabash's most frequently cited loan purpose was Home Purchase, with 336 originations. The 2nd most popular reason was Cash Out Refi, with 125 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 230 $37,750,000 $164,130
    7-8% 158 $23,130,000 $146,392
    Over 8% 113 $7,265,000 $64,292
    5-6% 81 $12,675,000 $156,481
    <2.5% 11 $205,000 $18,636
    4-5% 4 $700,000 $175,000
    3-4% 2 $760,000 $380,000

    During 2023, Wabash's most frequently originated rate bucket was 6-7%, with 230 originations.

    Loan Sizing (Wabash, IN MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 253 $14,715,000 $58,162
    $100k-200k 250 $35,890,000 $143,560
    $200k-400k 79 $20,045,000 $253,734
    $400k-600k 9 $4,015,000 $446,111
    $600k-1000k 8 $6,110,000 $763,750
    $Over $1MM 1 $1,715,000 $1,715,000

    Wabash's loan sizing saw the bucket of loans from $100,000 or less with 253 originations, totaling $14,715,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 270 $44,370,000 $164,333
    60-80% 138 $23,250,000 $168,478
    20-40% 73 $5,335,000 $73,082
    Under 20% 59 $1,875,000 $31,780
    40-60% 54 $6,190,000 $114,630
    Over 100% 4 $740,000 $185,000

    Wabash's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 270 originations, totaling $44,370,000 in origination value.