West Point Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in West Point averaged
6.84%
for the week of 2025-04-03, compared to the national average of
6.64% for the same period.
The average rate for the prior week (2025-03-27) was
6.65% and
one month ago for the week of 2025-02-27, the
average rate was 6.96%.
West Point's average rate one year ago was 6.69%.
For refis of the same type during the week of 2025-04-03, the average rate
was 6.84%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-04-03 | 6.64% |
| West Point 30 Year Fixed Rate | 2025-04-03 | 6.84% |
| West Point 30 Year Fixed Rate Refi | 2025-04-03 | 6.84% |
| West Point 15 Year Fixed Rate | 2025-04-03 | 6.02% |
| West Point 15 Year Fixed Rate Refi | 2025-04-03 | 6.22% |
| West Point 30 Year FHA | 2025-04-03 | 6.16% |
| West Point 30 Year FHA Refi | 2025-04-03 | 6.46% |
| West Point 30 Year USDA | 2025-04-03 | 6.52% |
| West Point 30 Year USDA Refi | 2025-04-03 | 6.52% |
| West Point 30 Year VA | 2025-04-03 | 5.96% |
| West Point 30 Year VA Refi | 2025-04-03 | 6.06% |
West Point 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 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 | 2024 Avg. 30yFix Rate | 2024 Avg. Closing Costs |
|---|---|---|---|
| BancorpSouth | 6 | 6.92% | $3,593 |
| QUICKEN LOANS, LLC | 3 | 6.74% | $4,685 |
| PHH Mortgage Corporation | 2 | 6.69% | $3,368 |
| LOANDEPOT.COM, LLC | 2 | 6.88% | $6,649 |
| Renasant Bank | 2 | 6.75% | $7,975 |
| Citizens Bank | 2 | 7.38% | $5,780 |
| BROKER SOLUTIONS, INC. | 2 | 7.50% | $5,785 |
| LAND HOME FINANCIAL SERVICES, INC. | 1 | 7.00% | $4,974 |
| Magnolia Bank | 1 | 6.63% | $4,189 |
| Mortgage Research Center, LLC | 1 | 7.63% | $4,310 |
| MUTUAL OF OMAHA MORTGAGE, INC. | 1 | 6.99% | $5,690 |
| PENNYMAC LOAN SERVICES, LLC | 1 | 7.62% | $4,069 |
| Regions Bank | 1 | 6.88% | $0 |
| Trustmark National Bank | 1 | 7.00% | $7,703 |
| 21ST MORTGAGE CORPORATION | 1 | 8.92% | $5,682 |
| ZILLOW HOME LOANS, LLC | 1 | 7.50% | $6,277 |
| Ally Bank | 1 | 6.63% | $4,760 |
| AmeriHome Mortgage Company, LLC | 1 | 6.88% | $3,478 |
| CARDINAL FINANCIAL | 1 | 6.63% | $8,835 |
| FIRST COMMUNITY MORTGAGE, INC. | 1 | 6.49% | $3,130 |
| Flagstar Bank, FSB | 1 | 6.38% | $7,633 |
| HOPE FEDERAL CREDIT UNION | 1 | 7.25% | $4,384 |
West Point Average Closing Costs & Other Stats
West Point, MS's 22 lenders originated 257
loans during 2024. The total origination value was $32,135,000, with an average loan value of
$125,039.
West Point's average closing costs are $5,219.
The top West Point lender as defined by loan originations is BancorpSouth, with
6 loans originated. Their average total fees are
$3,593, which is $1,091
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee West Point lenders (with over 10 loans originated) are
.
The lowest rate West Point lenders (with over 10 loans originated) are
.
West Point, MS 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 |
|---|---|---|---|---|
| BancorpSouth | $4,990,000 | $5,805,000 | 16.3% | 18.1% |
| Renasant Bank | $6,910,000 | $4,615,000 | -33.2% | 14.4% |
| 21ST MORTGAGE CORPORATION | $1,245,000 | $2,200,000 | 76.7% | 6.8% |
| Trustmark National Bank | $540,000 | $1,550,000 | 187.0% | 4.8% |
| Flagstar Bank, FSB | $680,000 | $1,450,000 | 113.2% | 4.5% |
| BankFirst Financial Services | $1,055,000 | $1,445,000 | 37.0% | 4.5% |
| CARDINAL FINANCIAL | $610,000 | $1,095,000 | 79.5% | 3.4% |
| Magnolia Bank | $920,000 | $1,040,000 | 13.0% | 3.2% |
| QUICKEN LOANS, LLC | $1,755,000 | $860,000 | -51.0% | 2.7% |
| UNITED WHOLESALE MORTGAGE, LLC | $855,000 | $725,000 | -15.2% | 2.3% |
| FREEDOM MORTGAGE CORPORATION | $330,000 | $705,000 | 113.6% | 2.2% |
| Mortgage Research Center, LLC | $790,000 | $650,000 | -17.7% | 2.0% |
| BankPlus | $680,000 | $620,000 | -8.8% | 1.9% |
| CROSSCOUNTRY MORTGAGE, LLC | $225,000 | $610,000 | 171.1% | 1.9% |
| FIRST COMMUNITY MORTGAGE, INC. | $220,000 | $590,000 | 168.2% | 1.8% |
| Citizens Bank | $520,000 | n/a | 1.6% | |
| BROKER SOLUTIONS, INC. | $135,000 | $500,000 | 270.4% | 1.6% |
| FirstBank | $95,000 | $405,000 | 326.3% | 1.3% |
| AmeriHome Mortgage Company, LLC | $205,000 | $400,000 | 95.1% | 1.2% |
| HOPE FEDERAL CREDIT UNION | $45,000 | $390,000 | 766.7% | 1.2% |
| CMG MORTGAGE, INC. | $385,000 | n/a | 1.2% | |
| LOANDEPOT.COM, LLC | $135,000 | $365,000 | 170.4% | 1.1% |
| NBKC BANK | $345,000 | n/a | 1.1% | |
| LAND HOME FINANCIAL SERVICES, INC. | $335,000 | n/a | 1.0% | |
| Community Bank of Mississippi | $65,000 | $310,000 | 376.9% | 1.0% |
| CSL Financial, LLC | $285,000 | n/a | 0.9% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $260,000 | n/a | 0.8% | |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $255,000 | n/a | 0.8% | |
| NAVY FEDERAL CREDIT UNION | $95,000 | $255,000 | 168.4% | 0.8% |
| U.S. Bank | $285,000 | $255,000 | -10.5% | 0.8% |
| NEW DAY FINANCIAL, LLC | $235,000 | n/a | 0.7% | |
| The First, A National Banking Association | $390,000 | $225,000 | -42.3% | 0.7% |
| PENNYMAC LOAN SERVICES, LLC | $205,000 | n/a | 0.6% | |
| PHH Mortgage Corporation | $200,000 | n/a | 0.6% | |
| Regions Bank | $290,000 | $180,000 | -37.9% | 0.6% |
| TRIAD FINANCIAL SERVICES, INC. | $870,000 | $170,000 | -80.5% | 0.5% |
| Decatur County Bank | $165,000 | n/a | 0.5% | |
| GENEVA FINANCIAL, LLC | $155,000 | n/a | 0.5% | |
| Ally Bank | $135,000 | n/a | 0.4% | |
| Carrington Mortgage Services, LLC | $260,000 | $125,000 | -51.9% | 0.4% |
| HOMEXPRESS MORTGAGE CORP. | $125,000 | n/a | 0.4% | |
| ZILLOW HOME LOANS, LLC | $115,000 | n/a | 0.4% | |
| BETTER MORTGAGE CORPORATION | $105,000 | n/a | 0.3% | |
| Paramount Residential Mortgage Group, Inc. | $95,000 | n/a | 0.3% | |
| RELIANCE FIRST CAPITAL, LLC | $55,000 | $95,000 | 72.7% | 0.3% |
| SOUTHWEST STAGE FUNDING, LLC | $95,000 | n/a | 0.3% | |
| The Citizens National Bank of Meridian | $80,000 | n/a | 0.2% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $185,000 | $75,000 | -59.5% | 0.2% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $75,000 | n/a | 0.2% | |
| Coastal Community Bank | $60,000 | n/a | 0.2% | |
| Bank of America | $55,000 | n/a | 0.2% | |
| Figure Lending LLC | $25,000 | $50,000 | 100.0% | 0.2% |
| ATLANTA POSTAL | $45,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $45,000 | n/a | 0.1% |
West Point's top lender by overall market share is BancorpSouth, with 18.1% market share. In second place, with 14.4%, is Renasant Bank, having originated $4,615,000 in loans. In third place, with 6.8%, is 21ST MORTGAGE CORPORATION, having originated $2,200,000 in loans. In fourth place, with 4.8%, is Trustmark National Bank, having originated $1,550,000 in loans. In fifth place, with 4.5%, is Flagstar Bank, FSB, having originated $1,450,000 in loans.
West Point, MS Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 143 | $20,795,000 | $145,420 |
| Refi | 56 | $6,450,000 | $115,179 |
| Other | 29 | $1,635,000 | $56,379 |
| Cash Out Refi | 18 | $2,800,000 | $155,556 |
| Home Improvement | 11 | $455,000 | $41,364 |
West Point's most frequently cited loan purpose was Home Purchase, with 143 originations. The 2nd most popular reason was Refi, with 56 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 101 | $8,585,000 | $85,000 |
| 6-7% | 70 | $11,310,000 | $161,571 |
| 7-8% | 49 | $6,815,000 | $139,082 |
| 5-6% | 22 | $4,930,000 | $224,091 |
| <2.5% | 9 | $95,000 | $10,556 |
| 4-5% | 5 | $235,000 | $47,000 |
During 2024, West Point's most frequently originated rate bucket was Over 8%, with 101 originations.
Loan Sizing (West Point, MS MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 119 | $6,125,000 | $51,471 |
| $100k-200k | 97 | $13,715,000 | $141,392 |
| $200k-400k | 38 | $10,280,000 | $270,526 |
| $600k-1000k | 2 | $1,450,000 | $725,000 |
| $400k-600k | 1 | $565,000 | $565,000 |
West Point's loan sizing saw the bucket of loans from $100,000 or less with 119 originations, totaling $6,125,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 108 | $18,060,000 | $167,222 |
| 60-80% | 45 | $6,335,000 | $140,778 |
| Under 20% | 38 | $960,000 | $25,263 |
| 20-40% | 30 | $1,760,000 | $58,667 |
| 40-60% | 22 | $2,530,000 | $115,000 |
| Over 100% | 4 | $650,000 | $162,500 |
West Point's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 108 originations, totaling $18,060,000 in origination value.