Willmar Mortgage Rates & Closing Costs
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% |
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.).
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.