Merchants & Marine Bank closing costs and rates (2024)
In 2024, Merchants & Marine Bank originated 167 purchase mortgages at a median interest rate of 6.75% and median total closing costs of $4,774. That is $1,967 below the national median of $6,741. Merchants & Marine Bank is most active in Mississippi with 119 originations there.
Purchase Originations
167
Median Total Costs
$4,774
−29.2% vs national ($6,741)
Median Rate
6.750%
+2.0% vs national (6.620%)
Median Origination
$1,595
Median Lender Credits
$45
Breakdown by loan type
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 106 | 6.875% | $4,063 | $1,595 |
| fha | 39 | 6.490% | $8,512 | $1,595 |
Active states
| State | Volume | Median Rate | Median Total Costs | State Rank |
|---|---|---|---|---|
| Mississippi | 119 | 6.750% | $4,808 | #45 |
| Louisiana | 31 | 6.750% | $4,505 | — |
| Alabama | 12 | 6.990% | $3,985 | — |
| Texas | 2 | 6.375% | $5,366 | — |
| Florida | 1 | 6.490% | $6,578 | — |
| Indiana | 1 | 6.990% | $2,792 | — |
| Pennsylvania | 1 | 6.490% | $6,116 | — |
Top counties by origination volume
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $2,792 | 6.990% | — | 1 | −$1,982 | |
| 2 | $3,580 | 6.375% | — | 3 | −$1,194 | |
| 3 | $3,654 | 7.490% | — | 1 | −$1,120 | |
| 4 | $3,665 | 7.062% | — | 14 | −$1,109 | |
| 5 | $3,740 | 6.624% | — | 5 | −$1,034 | |
| 6 | $3,982 | 6.990% | — | 11 | −$792 | |
| 7 | $4,363 | 6.812% | — | 14 | −$411 | |
| 8 | $4,444 | 6.875% | — | 1 | −$330 | |
| 9 | $4,466 | 6.875% | — | 31 | −$308 | |
| 10 | $4,823 | 6.625% | — | 2 | +$49 | |
| 11 | $5,237 | 7.000% | — | 2 | +$463 | |
| 12 | $5,788 | 7.000% | — | 2 | +$1,014 | |
| 13 | $5,816 | 6.438% | — | 8 | +$1,042 | |
| 14 | $5,991 | 6.500% | — | 39 | +$1,217 | |
| 15 | $6,578 | 6.490% | — | 1 | +$1,804 | |
| 16 | $6,623 | 7.125% | — | 1 | +$1,849 | |
| 17 | $6,717 | 6.250% | — | 8 | +$1,943 | |
| 18 | $6,901 | 6.750% | — | 2 | +$2,127 | |
| 19 | $7,149 | 7.125% | — | 1 | +$2,375 | |
| 20 | $7,841 | 6.688% | — | 6 | +$3,067 |
Includes lenders with 1+ purchase originations in top counties. Source: HMDA 2024. Sorted by median total loan costs.
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Data source: HMDA Modified Loan Application Register 2024, published by the Consumer Financial Protection Bureau (CFPB).
Statistics reflect originated first-lien purchase mortgages on owner-occupied principal residences. Medians exclude loans with exempt or unreported fee disclosures. Learn more at ffiec.cfpb.gov.