West Point Mortgage Rates

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

30 Year Fixed Rate mortgages in West Point averaged 6.33% for the week of 2022-06-23, compared to the national average of 5.81% for the same period.

The average rate for the prior week (2022-06-16) was 6% and one month ago for the week of 2022-05-19, the average rate was 5.57%.

West Point's average rate one year ago was 3.34%.

For refis of the same type during the week of 2022-06-23, the average rate was 6.03%.

Loan Type Date Rate
US 30 Year Fixed Rate 2022-06-23 5.81%
West Point 30 Year Fixed Rate 2022-06-23 6.33%
West Point 30 Year Fixed Rate Refi 2022-06-23 6.03%
West Point 15 Year Fixed Rate 2022-06-23 5.67%
West Point 15 Year Fixed Rate Refi 2022-06-23 5.45%
West Point 30 Year FHA 2022-06-23 0.44%
West Point 30 Year FHA Refi 2022-06-23 -0.17%
West Point 30 Year USDA 2022-06-23 0.11%
West Point 30 Year USDA Refi 2022-06-23 3.12%
West Point 30 Year VA 2022-06-23 0.42%
West Point 30 Year VA Refi 2022-06-23 0%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within West Point, MS.

West Point Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lendor, for only loans originated in the West Point, MS 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 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
BancorpSouth Bank 18 3.45% $2,922
Renasant Bank 9 3.43% $3,190
Flagstar Bank, FSB 4 3.34% $4,081
QUICKEN LOANS, LLC 4 3.00% $4,538
GMFS LLC 3 2.92% $3,392
U.S. Bank 2 3.25% $1,979
BROKER SOLUTIONS, INC. 2 3.00% $4,189
Regions Bank 2 3.50% $2,869
LOANDEPOT.COM, LLC 2 2.81% $3,421
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.63% $5,357
NBKC BANK 1 3.25% $3,501
Origin Bank 1 3.00% $2,939
PENNYMAC LOAN SERVICES, LLC 1 3.00% $6,154
PLANET HOME LENDING, LLC 1 3.38% $1,425
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 2.88% $3,771
Stifel Bank and Trust 1 3.00% $2,055
Trustmark National Bank 1 3.13% $10,888
UNITED WHOLESALE MORTGAGE, LLC 1 3.38% $4,031
Magnolia Bank 1 3.13% $3,777
Bank of America 1 1.00% $1,912
BETTER MORTGAGE CORPORATION 1 2.38% $7,474
FIDELITY BANK 1 2.88% $3,157
FIRST COMMUNITY MORTGAGE, INC. 1 3.00% $4,444
GENEVA FINANCIAL, LLC 1 3.63% $4,436
GUARANTY HOME MORTGAGE CORPORATION 1 2.88% $3,290
HOPE FEDERAL CREDIT UNION 1 4.25% $3,696
Ally Bank 1 4.00% $2,869

West Point, MS's 27 lenders originated 389 loans during 2021. The total origination value was $50,875,000, with an average loan value of $130,784.

The top West Point lender as defined by loan originations is BancorpSouth Bank, with 18 loans originated. Their average total fees are $2,922, which is $268 lower than the next largest lender, Renasant Bank.

The lowest fee West Point lenders (with over 10 loans originated) are BancorpSouth Bank ($2,922), .

The lowest rate West Point lenders (with over 10 loans originated) are BancorpSouth Bank (3.45%), .

West Point, MS Lender 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 2020 Loan Value 2021 Loan Value % Change 2021 Market Share
BancorpSouth Bank $6,745,000 $8,600,000 27.5% 16.9%
Renasant Bank $8,260,000 $8,175,000 -1.0% 16.1%
QUICKEN LOANS, LLC $4,615,000 $4,395,000 -4.8% 8.6%
21ST MORTGAGE CORPORATION $2,165,000 $2,445,000 12.9% 4.8%
Trustmark National Bank $800,000 $1,955,000 144.4% 3.8%
BankFirst Financial Services $3,535,000 $1,900,000 -46.3% 3.7%
Flagstar Bank, FSB $540,000 $1,805,000 234.3% 3.5%
Regions Bank $1,180,000 $1,115,000 -5.5% 2.2%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $420,000 $1,065,000 153.6% 2.1%
FIRST COMMUNITY MORTGAGE, INC. $185,000 $985,000 432.4% 1.9%
LOANDEPOT.COM, LLC $105,000 $845,000 704.8% 1.7%
FREEDOM MORTGAGE CORPORATION $1,390,000 $805,000 -42.1% 1.6%
GMFS LLC $350,000 $790,000 125.7% 1.6%
FirstBank $645,000 $760,000 17.8% 1.5%
Mortgage Research Center, LLC $290,000 $690,000 137.9% 1.4%
West Alabama Bank & Trust $295,000 $690,000 133.9% 1.4%
Cadence Bank, N.A. $1,345,000 $670,000 -50.2% 1.3%
U.S. Bank $395,000 $665,000 68.4% 1.3%
VILLAGE CAPITAL & INVESTMENT LLC $370,000 $570,000 54.1% 1.1%
First South Farm Credit, ACA $495,000 n/a 1.0%
HOME POINT FINANCIAL CORPORATION $485,000 n/a 1.0%
Reliant Bank $195,000 $425,000 117.9% 0.8%
PENNYMAC LOAN SERVICES, LLC $415,000 n/a 0.8%
The Citizens National Bank of Meridian $345,000 $415,000 20.3% 0.8%
BankPlus $340,000 $410,000 20.6% 0.8%
Community Bank of Mississippi $395,000 n/a 0.8%
Paramount Residential Mortgage Group, Inc. $125,000 $390,000 212.0% 0.8%
First Security Bank $385,000 n/a 0.8%
USAA Federal Savings Bank $420,000 $380,000 -9.5% 0.7%
PRIMELENDING, A PLAINSCAPITAL COMPANY $375,000 n/a 0.7%
AMERISAVE MORTGAGE CORPORATION $270,000 $370,000 37.0% 0.7%
Wells Fargo Bank $360,000 n/a 0.7%
BROKER SOLUTIONS, INC. $350,000 n/a 0.7%
LAND HOME FINANCIAL SERVICES, INC. $285,000 n/a 0.6%
BETTER MORTGAGE CORPORATION $125,000 $275,000 120.0% 0.5%
UNITED WHOLESALE MORTGAGE, LLC $265,000 n/a 0.5%
LAKEVIEW LOAN SERVICING, LLC $255,000 n/a 0.5%
First Guaranty Mortgage Corporation $390,000 $250,000 -35.9% 0.5%
GENEVA FINANCIAL, LLC $55,000 $240,000 336.4% 0.5%
NBKC BANK $235,000 n/a 0.5%
SOUTHWEST STAGE FUNDING, LLC $185,000 $235,000 27.0% 0.5%
FIDELITY BANK $225,000 n/a 0.4%
LEADERONE FINANCIAL CORPORATION $680,000 $225,000 -66.9% 0.4%
CALIBER HOME LOANS, INC. $220,000 n/a 0.4%
HOMEBRIDGE FINANCIAL SERVICES, INC. $105,000 $205,000 95.2% 0.4%
STATEWIDE FEDERAL CREDIT UNION $175,000 n/a 0.3%
Mr. Cooper ( Nationstar Mortgage ) $170,000 n/a 0.3%
TRIAD FINANCIAL SERVICES, INC. $55,000 $170,000 209.1% 0.3%
Hometown Lenders, Inc. $165,000 n/a 0.3%
Arvest Bank $155,000 n/a 0.3%
Carrington Mortgage Services, LLC $120,000 $155,000 29.2% 0.3%
CROSSCOUNTRY MORTGAGE, LLC $165,000 $155,000 -6.1% 0.3%
Magnolia Bank $840,000 $155,000 -81.5% 0.3%
NEWREZ LLC $65,000 $150,000 130.8% 0.3%
Stifel Bank and Trust $245,000 $145,000 -40.8% 0.3%
HOMESTAR FINANCIAL CORPORATION $135,000 n/a 0.3%
Nations Lending Corporation $135,000 n/a 0.3%
TOWNE MORTGAGE COMPANY $330,000 $135,000 -59.1% 0.3%
VANDERBILT MORTGAGE AND FINANCE, INC. $135,000 n/a 0.3%
Bank of America $125,000 n/a 0.2%
GUARANTY HOME MORTGAGE CORPORATION $125,000 n/a 0.2%
PLANET HOME LENDING, LLC $235,000 $125,000 -46.8% 0.2%
Citizens Bank $320,000 $115,000 -64.1% 0.2%
CREDIT HUMAN FEDERAL CREDIT UNION $115,000 n/a 0.2%
MUTUAL OF OMAHA MORTGAGE, INC. $105,000 n/a 0.2%
LIMA ONE CAPITAL, LLC $95,000 n/a 0.2%
SOUTHWEST FUNDING, LP $95,000 n/a 0.2%
HOPE FEDERAL CREDIT UNION $45,000 $90,000 100.0% 0.2%
Ally Bank $75,000 n/a 0.1%
Barrington Bank & Trust Company, N.A. $65,000 n/a 0.1%
Origin Bank $65,000 n/a 0.1%
First Home Bank $55,000 n/a 0.1%

West Point's top lender by overall market share is BancorpSouth Bank, with 16.9% market share. In second place, with 16.1%, is Renasant Bank, having originated $8,175,000 in loans. In third place, with 8.6%, is QUICKEN LOANS, LLC, having originated $4,395,000 in loans. In third place, with 4.8%, is 21ST MORTGAGE CORPORATION, having originated $2,445,000 in loans. In third place, with 3.8%, is Trustmark National Bank, having originated $1,955,000 in loans.


West Point, MS Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 185 $23,595,000 $127,541
Refi 124 $18,170,000 $146,532
Cash Out Refi 49 $6,765,000 $138,061
Other 19 $1,625,000 $85,526
Home Improvement 12 $720,000 $60,000

West Point's most frequently cited loan purpose was Home Purchase, with 185 originations. The 2nd most popular reason was Refi, with 124 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
3-4% 151 $19,125,000 $126,656
2.5-3% 94 $14,850,000 $157,979
<2.5% 54 $8,610,000 $159,444
Over 8% 27 $1,815,000 $67,222
4-5% 23 $2,425,000 $105,435
7-8% 15 $1,345,000 $89,667
5-6% 14 $880,000 $62,857
6-7% 7 $575,000 $82,143

During 2021, West Point's most frequently originated rate bucket was 3-4%, with 151 originations.

Loan Sizing (West Point, MS MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 182 $11,350,000 $62,363
$100k-200k 132 $18,090,000 $137,045
$200k-400k 68 $17,900,000 $263,235
$400k-600k 6 $2,730,000 $455,000
$600k-1000k 1 $805,000 $805,000

West Point's loan sizing saw the bucket of loans from $100,000 or less with 182 originations, totaling $11,350,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 190 $25,930,000 $136,474
60-80% 95 $13,105,000 $137,947
40-60% 34 $4,530,000 $133,235
20-40% 29 $2,135,000 $73,621
Under 20% 20 $650,000 $32,500
Over 100% 6 $1,400,000 $233,333

West Point's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 190 originations, totaling $25,930,000 in origination value.