Bank Of Erath Mortgage Rates, Fees & Info

Erath, LA

LEI: 25490029ZGGK0O5HP605

Tax ID: 72-0124900

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Bank Of Erath is a smaller bank specializing in Refi loans. Bank Of Erath has a high proportion of conventional loans. Their top (well, only) market is Lafayette.

    Bank Of Erath has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    51

    Origination Dollar Volume (All Markets)

    $8,115,000

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    LAFAYETTE, LA (FHA|USDA|VA) 51 $8,115,000 $159,118 $0 0.00%
    Bank Of Erath's top markets include and Lafayette among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 51 $8,115,000 $159,118 $0 0.00%

    For 2022, Bank Of Erath's most frequently originated type of loan was Conventional, with 51 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 32 $6,710,000 $209,688 $0 0.00%
    Home Purchase 11 $865,000 $78,636 $0 0.00%
    Cash Out Refi 6 $500,000 $83,333 $0 0.00%
    Home Improvement 1 $5,000 $5,000 $0 0.00%
    Other 1 $35,000 $35,000 $0 0.00%

    For 2022, Bank Of Erath's most frequently cited loan purpose was Refi, with 32 originations. The 2nd most popular reason was Home Purchase, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 51 $8,115,000 $159,118 $0 0.00%

    For 2022, Bank Of Erath's most frequently cited loan duration was Other, with 51 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 36 $1,830,000 $50,833 $0 0.00%
    $100k-200k 9 $1,265,000 $140,556 $0 0.00%
    $200k-400k 3 $795,000 $265,000 $0 0.00%
    $400k-600k 2 $930,000 $465,000 $0 0.00%
    $1MM+ 1 $3,295,000 $3,295,000 $0 0.00%

    2022 saw Bank Of Erath place emphasis on $100,000 or less loans with 36 originations, totaling $1,830,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 11 $725,000 $65,909 $0 0.00%
    $100k-150k 9 $1,665,000 $185,000 $0 0.00%
    $50k-75k 7 $845,000 $120,714 $0 0.00%
    $75k-100k 6 $320,000 $53,333 $0 0.00%
    $150k-250k 3 $115,000 $38,333 $0 0.00%

    Bank Of Erath lent most frequently to those with incomes in the $50k or less range, with 11 originations. The second most popular income band? $100k-150k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 51 $8,115,000 $159,118 $0 0.00%

    Bank Of Erath lent most frequently to those with DTI ratios of Exempt%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 13 $4,225,000 $325,000 $0 0.00%
    White 30 $3,300,000 $110,000 $0 0.00%
    Black 7 $555,000 $79,286 $0 0.00%
    Asian Indian 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.52%

    Bank Of Erath has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.12%

    Bank Of Erath has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 51 $8,115,000 $159,118

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    51 $8,115,000 $159,118

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    BANK OF AMERICA, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Trouble during payment process 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 20.0%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 7 46.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION FHA mortgage Struggling to pay mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 6.7%