Willmar 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 Willmar averaged 6.89% for the week of 2025-05-08, compared to the national average of 6.76% for the same period.

    The average rate for the prior week (2025-05-01) was 6.89% and one month ago for the week of 2025-04-03, the average rate was 6.67%.

    Willmar's average rate one year ago was 7.15%.

    For refis of the same type during the week of 2025-05-08, the average rate was 6.66%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-05-08 6.76%
    Willmar 30 Year Fixed Rate 2025-05-08 6.89%
    Willmar 30 Year Fixed Rate Refi 2025-05-08 6.66%
    Willmar 15 Year Fixed Rate 2025-05-08 5.89%
    Willmar 15 Year Fixed Rate Refi 2025-05-08 6.49%
    Willmar 30 Year FHA 2025-05-08 6.48%
    Willmar 30 Year FHA Refi 2025-05-08 6.58%
    Willmar 30 Year USDA 2025-05-08 6.37%
    Willmar 30 Year USDA Refi 2025-05-08 6.47%
    Willmar 30 Year VA 2025-05-08 6.37%
    Willmar 30 Year VA Refi 2025-05-08 6.47%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Willmar, MN.

    Willmar 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 Willmar, MN 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
    Bremer Bank 30 6.74% $4,877
    UNITED WHOLESALE MORTGAGE, LLC 26 6.93% $5,358
    QUICKEN LOANS, LLC 16 6.59% $5,752
    HOMEOWNERS FINANCIAL GROUP USA, LLC 14 6.94% $5,081
    CENTRAL MINNESOTA Credit Union 14 6.65% $3,151
    Flagstar Bank, FSB 11 7.08% $5,119
    Granite Community Bank 9 6.68% $6,364
    U.S. Bank 9 6.92% $4,170
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.72% $7,783
    Bell Bank 5 7.10% $6,791
    EVERETT FINANCIAL, INC. 5 7.42% $6,091
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 6.72% $2,710
    Plains Commerce Bank 5 6.90% $7,223
    CROSSCOUNTRY MORTGAGE, LLC 4 7.18% $7,682
    Royal Credit Union 4 7.34% $4,471
    HomeTown Bank 4 6.63% $5,523
    PENNYMAC LOAN SERVICES, LLC 4 6.72% $5,581
    GUARANTEED RATE, INC. 4 6.94% $4,967
    BROKER SOLUTIONS, INC. 3 6.96% $7,445
    MOVEMENT MORTGAGE, LLC 3 7.25% $5,809
    Tradition Mortgage, LLC 3 7.29% $4,402
    Wells Fargo Bank 3 7.08% $4,443
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.71% $5,983
    TRUSTONE FINANCIAL FEDERAL CREDIT UNION 3 7.17% $3,782
    MASON MCDUFFIE MORTGAGE CORPORATION 3 6.62% $8,322
    PLAZA HOME MORTGAGE, INC. 3 6.50% $5,507
    Minnwest Bank 3 5.83% $4,724
    Alerus Financial 2 6.94% $3,752
    American Mortgage & Equity Consultants, Inc. 2 6.94% $5,487
    Frandsen Bank & Trust 2 7.00% $6,666
    JPMorgan Chase Bank 2 6.81% $2,295
    LOANDEPOT.COM, LLC 2 7.19% $6,644
    Mortgage Research Center, LLC 2 6.56% $1,805
    PNC Bank 2 7.25% $3,604
    ALLIED MORTGAGE GROUP, INC. 1 6.50% $2,847
    GUIDANCE RESIDENTIAL, LLC 1 6.63% $5,289
    GENEVA FINANCIAL, LLC 1 7.13% $13,360
    NBKC BANK 1 6.13% $2,892
    NEXERA HOLDING LLC 1 8.50% $4,004
    First Western Bank & Trust 1 6.50% $7,962
    CORTRUST MORTGAGE, INC. 1 6.13% $9,410
    Citibank 1 6.88% $11,042
    WINGS FINANCIAL 1 5.88% $3,889
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.13% $3,875
    Prosperity Home Mortgage, LLC 1 7.00% $3,757
    Choice Financial Group 1 6.75% $3,650
    Cambria Financial Group, LLC 1 7.50% $6,080
    ROYAL UNITED MORTGAGE LLC 1 6.50% $16,933
    RUOFF MORTGAGE COMPANY, INC. 1 6.00% $4,667
    ST. CLOUD FINANCIAL 1 6.50% $4,983
    Summit Mortgage Corporation 1 7.13% $4,721
    The Huntington National Bank 1 6.00% $3,987
    The Northern Trust Company 1 6.50% $3,862
    Think Mutual Bank 1 6.38% $4,743
    BMO Harris Bank 1 7.00% $3,745
    Truist 1 6.88% $4,540
    Baxter Credit Union 1 5.88% $4,505
    Associated Bank 1 6.00% $3,147
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.99% $5,362
    VERIDIAN CREDIT UNION 1 6.25% $3,234
    V.I.P. MORTGAGE, INC. 1 6.63% $4,506
    GUILD MORTGAGE COMPANY 1 6.13% $4,454
    Morgan Stanley Private Bank 1 6.90% $3,584

    Willmar Average Closing Costs & Other Stats

    Willmar, MN's 63 lenders originated 630 loans during 2024. The total origination value was $138,070,000, with an average loan value of $219,159.

    Willmar's average closing costs are $4,689.

    The top Willmar lender as defined by loan originations is Bremer Bank, with 30 loans originated. Their average total fees are $4,877, which is $481 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Willmar lenders (with over 10 loans originated) are CENTRAL MINNESOTA Credit Union ($3,151), Bremer Bank ($4,877), HOMEOWNERS FINANCIAL GROUP USA, LLC ($5,081), Flagstar Bank, FSB ($5,119) and UNITED WHOLESALE MORTGAGE, LLC ($5,358).

    The lowest rate Willmar lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.59%), CENTRAL MINNESOTA Credit Union (6.65%), Bremer Bank (6.74%), UNITED WHOLESALE MORTGAGE, LLC (6.93%) and HOMEOWNERS FINANCIAL GROUP USA, LLC (6.94%).

    Willmar, MN 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
    Bremer Bank $14,265,000 $14,605,000 2.4% 10.6%
    UNITED WHOLESALE MORTGAGE, LLC $6,495,000 $10,220,000 57.4% 7.4%
    Heritage Bank $12,150,000 $7,170,000 -41.0% 5.2%
    CENTRAL MINNESOTA Credit Union $5,150,000 $6,755,000 31.2% 4.9%
    QUICKEN LOANS, LLC $4,365,000 $6,475,000 48.3% 4.7%
    HOMEOWNERS FINANCIAL GROUP USA, LLC $6,855,000 $4,980,000 -27.4% 3.6%
    Granite Community Bank $4,950,000 n/a 3.6%
    Flagstar Bank, FSB $1,905,000 $4,120,000 116.3% 3.0%
    U.S. Bank $3,210,000 $3,990,000 24.3% 2.9%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $2,155,000 $3,095,000 43.6% 2.2%
    American Federal Bank $3,005,000 n/a 2.2%
    TRUSTONE FINANCIAL FEDERAL CREDIT UNION $2,445,000 $2,320,000 -5.1% 1.7%
    MASON MCDUFFIE MORTGAGE CORPORATION $2,260,000 n/a 1.6%
    PENNYMAC LOAN SERVICES, LLC $1,170,000 $2,200,000 88.0% 1.6%
    EVERETT FINANCIAL, INC. $2,240,000 $2,190,000 -2.2% 1.6%
    CROSSCOUNTRY MORTGAGE, LLC $2,145,000 $2,175,000 1.4% 1.6%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,630,000 $2,155,000 32.2% 1.6%
    AgCountry Farm Credit Services, FLCA $610,000 $2,080,000 241.0% 1.5%
    Plains Commerce Bank $330,000 $2,045,000 519.7% 1.5%
    Mortgage Research Center, LLC $1,095,000 $1,910,000 74.4% 1.4%
    Kensington Bank $2,220,000 $1,860,000 -16.2% 1.3%
    Bell Bank $670,000 $1,815,000 170.9% 1.3%
    PLAZA HOME MORTGAGE, INC. $1,590,000 n/a 1.2%
    BROKER SOLUTIONS, INC. $1,390,000 $1,485,000 6.8% 1.1%
    HomeTown Bank $1,665,000 $1,460,000 -12.3% 1.1%
    LOANDEPOT.COM, LLC $1,380,000 $1,285,000 -6.9% 0.9%
    Royal Credit Union $360,000 $1,250,000 247.2% 0.9%
    GUARANTEED RATE, INC. $1,810,000 $1,230,000 -32.0% 0.9%
    FREEDOM MORTGAGE CORPORATION $865,000 $1,205,000 39.3% 0.9%
    Tradition Mortgage, LLC $1,115,000 n/a 0.8%
    UNION HOME MORTGAGE CORP. $660,000 $1,045,000 58.3% 0.8%
    Bonanza Valley State Bank $100,000 $1,025,000 925.0% 0.7%
    Deerwood Bank $305,000 $1,010,000 231.1% 0.7%
    Sentry Bank $1,005,000 n/a 0.7%
    Bank Midwest $385,000 $925,000 140.3% 0.7%
    MUTUAL OF OMAHA MORTGAGE, INC. $75,000 $915,000 1,120.0% 0.7%
    Citibank $95,000 $885,000 831.6% 0.6%
    Prosperity Home Mortgage, LLC $1,545,000 $805,000 -47.9% 0.6%
    VERIDIAN CREDIT UNION $800,000 n/a 0.6%
    Minnwest Bank $1,450,000 $780,000 -46.2% 0.6%
    MOVEMENT MORTGAGE, LLC $645,000 $780,000 20.9% 0.6%
    CORTRUST MORTGAGE, INC. $105,000 $750,000 614.3% 0.5%
    NBKC BANK $730,000 n/a 0.5%
    JPMorgan Chase Bank $970,000 $725,000 -25.3% 0.5%
    Wells Fargo Bank $1,020,000 $695,000 -31.9% 0.5%
    The Northern Trust Company $685,000 n/a 0.5%
    AFFINITY PLUS $3,060,000 $655,000 -78.6% 0.5%
    Frandsen Bank & Trust $165,000 $620,000 275.8% 0.4%
    SPIRE Credit Union $495,000 $605,000 22.2% 0.4%
    ROYAL UNITED MORTGAGE LLC $595,000 n/a 0.4%
    American Bank Center $580,000 n/a 0.4%
    Servion, Inc. $865,000 $565,000 -34.7% 0.4%
    Associated Bank $560,000 n/a 0.4%
    Alerus Financial $550,000 n/a 0.4%
    SOUTHPOINT FINANCIAL $770,000 $535,000 -30.5% 0.4%
    American Mortgage & Equity Consultants, Inc. $170,000 $515,000 202.9% 0.4%
    American Airlines Federal Credit Union $505,000 n/a 0.4%
    Security Savings Bank $505,000 n/a 0.4%
    Choice Financial Group $490,000 n/a 0.4%
    First Western Bank & Trust $300,000 $480,000 60.0% 0.3%
    V.I.P. MORTGAGE, INC. $475,000 n/a 0.3%
    Think Mutual Bank $465,000 n/a 0.3%
    Summit Mortgage Corporation $430,000 n/a 0.3%
    BMO Harris Bank $310,000 $425,000 37.1% 0.3%
    First Federal Bank $425,000 n/a 0.3%
    PNC Bank $410,000 n/a 0.3%
    LAKEVIEW LOAN SERVICING, LLC $395,000 n/a 0.3%
    Morgan Stanley Private Bank $395,000 n/a 0.3%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $395,000 n/a 0.3%
    VILLAGE CAPITAL MORTGAGE $390,000 n/a 0.3%
    WINGS FINANCIAL $14,320,000 $390,000 -97.3% 0.3%
    Liberty Bank Minnesota $480,000 $385,000 -19.8% 0.3%
    GENEVA FINANCIAL, LLC $205,000 $335,000 63.4% 0.2%
    BankVista $185,000 $325,000 75.7% 0.2%
    The Huntington National Bank $955,000 $290,000 -69.6% 0.2%
    OCMBC, INC. $280,000 n/a 0.2%
    TOP FLITE FINANCIAL, INC. $280,000 n/a 0.2%
    Bank of England $275,000 n/a 0.2%
    Discover Bank $215,000 $265,000 23.3% 0.2%
    USAA Federal Savings Bank $265,000 n/a 0.2%
    ALLIED MORTGAGE GROUP, INC. $245,000 n/a 0.2%
    Community Resource Bank $255,000 $245,000 -3.9% 0.2%
    ST. CLOUD FINANCIAL $740,000 $245,000 -66.9% 0.2%
    ZILLOW HOME LOANS, LLC $555,000 $245,000 -55.9% 0.2%
    Baxter Credit Union $75,000 $225,000 200.0% 0.2%
    GUIDANCE RESIDENTIAL, LLC $225,000 n/a 0.2%
    NEWREZ LLC $260,000 $225,000 -13.5% 0.2%
    The Federal Savings Bank $505,000 $225,000 -55.4% 0.2%
    GUILD MORTGAGE COMPANY $215,000 n/a 0.2%
    Cambria Financial Group, LLC $205,000 n/a 0.1%
    NEW DAY FINANCIAL, LLC $205,000 n/a 0.1%
    Equity Prime Mortgage LLC $195,000 n/a 0.1%
    Figure Lending LLC $195,000 n/a 0.1%
    Truist $420,000 $195,000 -53.6% 0.1%
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $185,000 $185,000 0.0% 0.1%
    PREMIER LENDING, INC. $175,000 n/a 0.1%
    CARDINAL FINANCIAL $735,000 $165,000 -77.6% 0.1%
    Old National Bank $55,000 $155,000 181.8% 0.1%
    NEXERA HOLDING LLC $135,000 n/a 0.1%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $480,000 $135,000 -71.9% 0.1%
    Coastal Community Bank $105,000 $125,000 19.0% 0.1%
    FINANCE OF AMERICA REVERSE LLC $125,000 n/a 0.1%
    Mr. Cooper ( Nationstar Mortgage ) $250,000 $120,000 -52.0% 0.1%
    Bethpage Federal Credit Union $105,000 n/a 0.1%
    Citizens Bank $185,000 $105,000 -43.2% 0.1%
    Citizens Alliance Bank $2,000,000 $85,000 -95.8% 0.1%
    CorTrust Bank $85,000 n/a 0.1%
    PHH Mortgage Corporation $75,000 n/a 0.1%
    Northwest Bank $55,000 n/a 0.0%
    RUOFF MORTGAGE COMPANY, INC. $55,000 n/a 0.0%
    The Loan Store, Inc. $45,000 n/a 0.0%
    TOWN AND COUNTRY Credit Union $35,000 n/a 0.0%

    Willmar's top lender by overall market share is Bremer Bank, with 10.6% market share. In second place, with 7.4%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $10,220,000 in loans. In third place, with 5.2%, is Heritage Bank, having originated $7,170,000 in loans. In fourth place, with 4.9%, is CENTRAL MINNESOTA Credit Union, having originated $6,755,000 in loans. In fifth place, with 4.7%, is QUICKEN LOANS, LLC, having originated $6,475,000 in loans.

    Willmar, MN Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 394 $96,350,000 $244,543
    Refi 76 $17,590,000 $231,447
    Other 62 $7,760,000 $125,161
    Cash Out Refi 57 $12,555,000 $220,263
    Home Improvement 41 $3,815,000 $93,049

    Willmar's most frequently cited loan purpose was Home Purchase, with 394 originations. The 2nd most popular reason was Refi, with 76 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 261 $67,035,000 $256,839
    7-8% 122 $27,590,000 $226,148
    Over 8% 96 $10,890,000 $113,438
    5-6% 51 $13,645,000 $267,549
    <2.5% 29 $485,000 $16,724
    4-5% 4 $1,060,000 $265,000

    During 2024, Willmar's most frequently originated rate bucket was 6-7%, with 261 originations.

    Loan Sizing (Willmar, MN MSA)

    Loan Size Originations Total Value Average Loan
    $200k-400k 225 $62,525,000 $277,889
    $100k-200k 175 $26,705,000 $152,600
    $100,000 or less 166 $8,290,000 $49,940
    $400k-600k 41 $19,465,000 $474,756
    $600k-1000k 18 $13,480,000 $748,889
    $Over $1MM 5 $7,605,000 $1,521,000

    Willmar's loan sizing saw the bucket of loans from $200k-400k with 225 originations, totaling $62,525,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 240 $60,260,000 $251,083
    60-80% 103 $32,145,000 $312,087
    Under 20% 95 $3,515,000 $37,000
    20-40% 67 $9,735,000 $145,299
    40-60% 47 $11,305,000 $240,532
    Over 100% 4 $1,840,000 $460,000

    Willmar's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 240 originations, totaling $60,260,000 in origination value.