Peoples Bank Of Greensboro Mortgage Rates, Fees & Info
GREENSBORO, ALLEI: 2549009ACXPW8YN9HB36
Tax ID: 63-0162140
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Mortgage Data
Review & Overview
Peoples Bank Of Greensboro is a smaller bank specializing in Refi and Home Purchase loans. Peoples Bank Of Greensboro has a high proportion of conventional loans. Their top two markets are Tuscaloosa and Auburn .Peoples Bank Of Greensboro has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
39Origination Dollar Volume (All Markets)
$2,625,000Top 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 |
|---|---|---|---|---|---|
| TUSCALOOSA, AL (FHA|USDA|VA) | 34 | $1,960,000 | $57,647 | $692 | 7.67% |
| Outside of Metro Areas | 4 | $340,000 | $85,000 | $2,107 | 8.24% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 6.20% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 39 | $2,625,000 | $67,308 | $793 | 7.69% |
For 2023, Peoples Bank Of Greensboro's most frequently originated type of loan was Conventional, with 39 originations.
Loan Reason
For 2023, Peoples Bank Of Greensboro's most frequently cited loan purpose was Refi, with 19 originations. The 2nd most popular reason was Home Purchase, with 16 originations.
Loan Duration/Length
For 2023, Peoples Bank Of Greensboro's most frequently cited loan duration was Other, with 21 originations. The 2nd most popular length was 5 Year, with 14 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 14 | $1,080,000 | $77,143 |
Peoples Bank Of Greensboro's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 14 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 16 | $870,000 | $54,375 |
| Over 8% | 16 | $950,000 | $59,375 |
| 6-7% | 4 | $500,000 | $125,000 |
| 5-6% | 2 | $10,000 | $5,000 |
| 4-5% | 1 | $295,000 | $295,000 |
During 2023, Peoples Bank Of Greensboro's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 16 originations.
Loan Sizing
2023 saw Peoples Bank Of Greensboro place emphasis on $100,000 or less loans with 30 originations, totaling $1,070,000 in origination value.
Applicant Income
Peoples Bank Of Greensboro lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $75k-100k, with 6 originations.
Applicant Debt to Income Ratio
Peoples Bank Of Greensboro lent most frequently to those with DTI ratios of <20%, with 2 originations. The next most common DTI ratio? 20-30%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.24%
Peoples Bank Of Greensboro has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination97.44%
Peoples Bank Of Greensboro has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 39 | $2,625,000 | $67,308 |