Washington Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Washington averaged 7.19% for the week of 2025-06-18, compared to the national average of 6.81% for the same period.

The average rate for the prior week (2025-06-12) was 7.02% and one month ago for the week of 2025-05-15, the average rate was 6.79%.

Washington's average rate one year ago was 7.03%.

For refis of the same type during the week of 2025-06-18, the average rate was 7.01%.

Loan Type Date Rate
US 30 Year Fixed Rate 2025-06-18 6.81%
Washington 30 Year Fixed Rate 2025-06-18 7.19%
Washington 30 Year Fixed Rate Refi 2025-06-18 7.01%
Washington 15 Year Fixed Rate 2025-06-18 5.86%
Washington 15 Year Fixed Rate Refi 2025-06-18 5.86%
Washington 30 Year FHA 2025-06-18 -0.1%
Washington 30 Year FHA Refi 2025-06-18 -0.2%
Washington 30 Year USDA 2025-06-18 0%
Washington 30 Year USDA Refi 2025-06-18 -0.2%
Washington 30 Year VA 2025-06-18 0.2%
Washington 30 Year VA Refi 2025-06-18 0.1%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Washington, IN.

Washington 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 Washington, 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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
German American Bank 32 6.70% $3,577
CRANE 13 6.78% $1,640
Farm Credit Mid-America, ACA 9 7.10% $6,660
QUICKEN LOANS, LLC 9 6.56% $5,991
PLAZA HOME MORTGAGE, INC. 9 6.68% $4,584
UNITED WHOLESALE MORTGAGE, LLC 7 7.19% $4,468
EVANSVILLE TEACHERS 7 6.75% $2,428
First Federal Savings Bank 6 7.40% $2,370
First Savings Bank 5 7.18% $2,200
RUOFF MORTGAGE COMPANY, INC. 4 7.03% $3,008
Old National Bank 3 6.96% $2,524
Flagstar Bank, FSB 2 7.36% $6,343
The Loan Store, Inc. 2 6.74% $2,629
NEWREZ LLC 2 7.12% $1,731
Northwest Bank 1 6.75% $2,296
Plains Commerce Bank 1 7.25% $1,541
PROVIDENT FUNDING ASSOCIATES, L.P. 1 7.25% $3,927
Security Federal Savings Bank 1 7.88% $2,041
Union Savings Bank 1 6.50% $2,394
VANDERBILT MORTGAGE AND FINANCE, INC. 1 7.75% $5,432
AMERICAN FINANCIAL RESOURCES, INC. 1 5.99% $7,468
Wells Fargo Bank 1 5.75% $3,955
CMG MORTGAGE, INC. 1 6.99% $2,928
Elements Financial Federal Credit Union 1 6.88% $3,127
Fifth Third Bank 1 5.50% $2,730
First Federal Bank 1 6.88% $2,965
First Financial Bank 1 6.38% $2,399
FREEDOM MORTGAGE CORPORATION 1 7.25% $5,936
HOMESIDE FINANCIAL, LLC 1 6.88% $2,290
JPMorgan Chase Bank 1 7.13% $3,360
LENOX FINANCIAL MORTGAGE CORPORATION 1 5.87% $5,617
LOANDEPOT.COM, LLC 1 5.99% $5,209
MORTGAGE MASTERS OF INDIANA, INC. 1 7.25% $2,688
Mortgage Research Center, LLC 1 6.38% $3,984
M&T Bank 1 7.13% $6,091

Washington Average Closing Costs & Other Stats

Washington, IN's 35 lenders originated 527 loans during 2024. The total origination value was $93,455,000, with an average loan value of $177,334.

Washington's average closing costs are $3,767.

The top Washington lender as defined by loan originations is German American Bank, with 32 loans originated. Their average total fees are $3,577, which is $1,936 higher than the next largest lender, CRANE.

The lowest fee Washington lenders (with over 10 loans originated) are CRANE ($1,640), German American Bank ($3,577), .

The lowest rate Washington lenders (with over 10 loans originated) are German American Bank (6.70%), CRANE (6.78%), .

Washington, 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 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
German American Bank $23,995,000 $23,325,000 -2.8% 25.0%
Merchants Bank of Indiana $13,020,000 n/a 13.9%
QUICKEN LOANS, LLC $2,190,000 $4,895,000 123.5% 5.2%
Old National Bank $3,220,000 $4,405,000 36.8% 4.7%
CRANE $4,530,000 $3,985,000 -12.0% 4.3%
Farm Credit Mid-America, ACA $2,220,000 $3,705,000 66.9% 4.0%
UNITED WHOLESALE MORTGAGE, LLC $4,020,000 $3,440,000 -14.4% 3.7%
Mortgage Research Center, LLC $1,675,000 $3,350,000 100.0% 3.6%
First Savings Bank $3,035,000 $2,785,000 -8.2% 3.0%
PLAZA HOME MORTGAGE, INC. $2,225,000 $2,745,000 23.4% 2.9%
EVANSVILLE TEACHERS $3,145,000 $2,015,000 -35.9% 2.2%
MORTGAGE MASTERS OF INDIANA, INC. $910,000 $1,950,000 114.3% 2.1%
NAVY FEDERAL CREDIT UNION $450,000 $1,890,000 320.0% 2.0%
FREEDOM MORTGAGE CORPORATION $620,000 $1,385,000 123.4% 1.5%
RUOFF MORTGAGE COMPANY, INC. $655,000 $1,180,000 80.2% 1.3%
First Federal Savings Bank $3,335,000 $1,140,000 -65.8% 1.2%
LAKEVIEW LOAN SERVICING, LLC $975,000 n/a 1.0%
Equity Prime Mortgage LLC $980,000 $970,000 -1.0% 1.0%
Flagstar Bank, FSB $930,000 n/a 1.0%
First Financial Bank $100,000 $680,000 580.0% 0.7%
JPMorgan Chase Bank $125,000 $675,000 440.0% 0.7%
NEWREZ LLC $650,000 n/a 0.7%
Regions Bank $70,000 $650,000 828.6% 0.7%
BROKER SOLUTIONS, INC. $470,000 n/a 0.5%
Mr. Cooper ( Nationstar Mortgage ) $195,000 $435,000 123.1% 0.5%
USAA Federal Savings Bank $925,000 $415,000 -55.1% 0.4%
AMERICAN FINANCIAL RESOURCES, INC. $410,000 n/a 0.4%
LENOX FINANCIAL MORTGAGE CORPORATION $405,000 n/a 0.4%
PREMIA MORTGAGE, LLC $405,000 n/a 0.4%
LOANDEPOT.COM, LLC $525,000 $400,000 -23.8% 0.4%
Union Savings Bank $395,000 n/a 0.4%
Barrington Bank & Trust Company, N.A. $195,000 $380,000 94.9% 0.4%
Paramount Residential Mortgage Group, Inc. $175,000 $380,000 117.1% 0.4%
Elements Financial Federal Credit Union $375,000 n/a 0.4%
First Federal Bank $365,000 n/a 0.4%
CARDINAL FINANCIAL $360,000 n/a 0.4%
Bank of England $355,000 n/a 0.4%
VANDERBILT MORTGAGE AND FINANCE, INC. $395,000 $350,000 -11.4% 0.4%
GUILD MORTGAGE COMPANY $225,000 $345,000 53.3% 0.4%
First State Bank $335,000 n/a 0.4%
PENNYMAC LOAN SERVICES, LLC $275,000 $290,000 5.5% 0.3%
CMG MORTGAGE, INC. $285,000 n/a 0.3%
STOCKTON MORTGAGE CORPORATION $605,000 $285,000 -52.9% 0.3%
LNB COMMUNITY BANK $275,000 n/a 0.3%
1ST SIGNATURE LENDING, LLC $225,000 $255,000 13.3% 0.3%
Heritage Federal Credit Union $235,000 $245,000 4.3% 0.3%
VILLAGE CAPITAL MORTGAGE $235,000 n/a 0.3%
Fifth Third Bank $315,000 $230,000 -27.0% 0.2%
Northpointe Bank $205,000 n/a 0.2%
SECURITYNATIONAL MORTGAGE COMPANY $205,000 n/a 0.2%
The Loan Store, Inc. $200,000 n/a 0.2%
The Federal Savings Bank $195,000 n/a 0.2%
Carrington Mortgage Services, LLC $190,000 n/a 0.2%
Security Federal Savings Bank $185,000 n/a 0.2%
AmeriHome Mortgage Company, LLC $175,000 n/a 0.2%
PROVIDENT FUNDING ASSOCIATES, L.P. $175,000 n/a 0.2%
M&T Bank $165,000 n/a 0.2%
CHURCHILL MORTGAGE CORPORATION $395,000 $155,000 -60.8% 0.2%
Wells Fargo Bank $45,000 $150,000 233.3% 0.2%
GUARANTEED RATE, INC. $145,000 n/a 0.2%
HOMEXPRESS MORTGAGE CORP. $145,000 n/a 0.2%
The Huntington National Bank $145,000 n/a 0.2%
First Financial Bank $100,000 $140,000 40.0% 0.1%
HOMESIDE FINANCIAL, LLC $135,000 n/a 0.1%
AMERICAN FINANCING CORPORATION $95,000 $115,000 21.1% 0.1%
Plains Commerce Bank $115,000 n/a 0.1%
Figure Lending LLC $70,000 $80,000 14.3% 0.1%
CROSSCOUNTRY MORTGAGE, LLC $75,000 n/a 0.1%
The National Bank of Indianapolis $65,000 n/a 0.1%
Parda Federal Credit Union $55,000 n/a 0.1%
AMERISAVE MORTGAGE CORPORATION $420,000 $45,000 -89.3% 0.0%
Centra Credit Union $45,000 n/a 0.0%
Northwest Bank $145,000 $45,000 -69.0% 0.0%
Discover Bank $115,000 $35,000 -69.6% 0.0%
United Community Bank $35,000 n/a 0.0%
Farmers and Mechanics Federal Savings Bank $15,000 $25,000 66.7% 0.0%
Park Lane Finance Solutions, LLC $25,000 $15,000 -40.0% 0.0%

Washington's top lender by overall market share is German American Bank, with 25.0% market share. In second place, with 13.9%, is Merchants Bank of Indiana, having originated $13,020,000 in loans. In third place, with 5.2%, is QUICKEN LOANS, LLC, having originated $4,895,000 in loans. In fourth place, with 4.7%, is Old National Bank, having originated $4,405,000 in loans. In fifth place, with 4.3%, is CRANE, having originated $3,985,000 in loans.

Washington, IN Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 227 $59,275,000 $261,123
Refi 106 $13,440,000 $126,792
Cash Out Refi 85 $10,395,000 $122,294
Other 70 $7,500,000 $107,143
Home Improvement 39 $2,845,000 $72,949

Washington's most frequently cited loan purpose was Home Purchase, with 227 originations. The 2nd most popular reason was Refi, with 106 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 199 $46,005,000 $231,181
7-8% 108 $20,010,000 $185,278
Over 8% 82 $7,480,000 $91,220
<2.5% 78 $7,690,000 $98,590
5-6% 53 $11,045,000 $208,396
4-5% 3 $495,000 $165,000

During 2024, Washington's most frequently originated rate bucket was 6-7%, with 199 originations.

Loan Sizing (Washington, IN MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 191 $27,905,000 $146,099
$100,000 or less 187 $9,445,000 $50,508
$200k-400k 130 $35,270,000 $271,308
$400k-600k 16 $7,100,000 $443,750
$Over $1MM 2 $13,020,000 $6,510,000
$600k-1000k 1 $715,000 $715,000

Washington's loan sizing saw the bucket of loans from $100k-200k with 191 originations, totaling $27,905,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 164 $34,920,000 $212,927
20-40% 97 $9,115,000 $93,969
Under 20% 91 $4,405,000 $48,407
60-80% 84 $16,480,000 $196,190
40-60% 66 $13,710,000 $207,727
Over 100% 8 $11,380,000 $1,422,500

Washington's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 164 originations, totaling $34,920,000 in origination value.