PROPER RATE, LLC closing costs and rates (2024)
In 2024, PROPER RATE, LLC originated 1,381 purchase mortgages at a median interest rate of 6.80% and median total closing costs of $6,151. That ranks #293 nationally by origination volume. For total closing costs among lenders with 500+ originations, PROPER RATE, LLC ranks #291. That is $590 below the national median of $6,741. PROPER RATE, LLC is most active in Illinois with 1,197 originations there.
Purchase Originations
1,381
Ranked #293 nationally
Median Total Costs
$6,151
−8.8% vs national ($6,741)
Median Rate
6.800%
+2.7% vs national (6.620%)
Median Origination
$1,440
Median Lender Credits
$126
Cost Rank (500+ vol.)
#291
among lenders with 500+ originations
Breakdown by loan type
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 1,313 | 6.850% | $6,121 | $1,440 |
| fha | 37 | 6.750% | $11,270 | $1,440 |
| va | 31 | 6.250% | $10,557 | $0 |
Active states
| State | Volume | Median Rate | Median Total Costs | State Rank |
|---|---|---|---|---|
| Illinois | 1,197 | 6.825% | $6,216 | #19 |
| Indiana | 62 | 6.763% | $3,420 | #155 |
| California | 47 | 6.625% | $6,199 | — |
| Michigan | 20 | 7.175% | $3,831 | — |
| Wisconsin | 18 | 6.875% | $3,373 | — |
| Colorado | 13 | 6.750% | $4,023 | — |
| Texas | 5 | 6.775% | $5,296 | — |
| Arizona | 4 | 6.700% | $6,090 | — |
| Florida | 4 | 6.812% | $7,552 | — |
| Ohio | 3 | 6.625% | $9,296 | — |
| South Carolina | 2 | 6.250% | $4,199 | — |
| Iowa | 1 | 7.125% | $3,191 | — |
| Minnesota | 1 | 6.975% | $4,510 | — |
| Missouri | 1 | 6.125% | $3,809 | — |
| North Carolina | 1 | 6.600% | $7,074 | — |
| New Jersey | 1 | 6.575% | $5,530 | — |
| Tennessee | 1 | 6.500% | $5,171 | — |
Top counties by origination volume
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $2,981 | 7.125% | — | 3 | −$3,170 | |
| 2 | $3,128 | 6.925% | — | 7 | −$3,023 | |
| 3 | $3,338 | 6.688% | — | 30 | −$2,813 | |
| 4 | $3,418 | 6.375% | — | 3 | −$2,733 | |
| 5 | $3,420 | 6.990% | — | 18 | −$2,731 | |
| 6 | $3,834 | 7.250% | — | 15 | −$2,317 | |
| 7 | $4,034 | 6.688% | — | 8 | −$2,117 | |
| 8 | $4,392 | 6.990% | — | 7 | −$1,759 | |
| 9 | $4,620 | 5.750% | — | 9 | −$1,531 | |
| 10 | $5,711 | 6.688% | — | 20 | −$440 | |
| 11 | $5,811 | 6.875% | — | 19 | −$340 | |
| 12 | $5,888 | 6.750% | — | 31 | −$263 | |
| 13 | $5,965 | 6.625% | — | 44 | −$186 | |
| 14 | $6,001 | 6.875% | — | 77 | −$150 | |
| 15 | $6,090 | 6.700% | — | 4 | −$61 | |
| 16 | $6,211 | 6.862% | — | 124 | +$60 | |
| 17 | $6,263 | 6.825% | — | 886 | +$112 | |
| 18 | $6,526 | 6.625% | — | 7 | +$375 | |
| 19 | $7,144 | 6.838% | — | 4 | +$993 | |
| 20 | $9,275 | 6.850% | — | 3 | +$3,124 |
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.