Peoples Bank Of Greensboro Mortgage Rates, Fees & Info

GREENSBORO, AL

LEI: 2549009ACXPW8YN9HB36

Tax ID: 63-0162140

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

    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 markets by origination volume include: Tuscaloosa, Birmingham, Daphne, Selma, and Montgomery among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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.

    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

    58

    Origination Dollar Volume (All Markets)

    $4,350,000

    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
    TUSCALOOSA, AL (FHA|USDA|VA) 36 $2,150,000 $59,722 $802 5.43%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 5 $1,045,000 $209,000 $646 5.04%
    Outside of Metro Areas 8 $480,000 $60,000 $778 5.94%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 3 $235,000 $78,333 $250 5.49%
    Selma, AL (FHA|USDA|VA) 3 $175,000 $58,333 $0 6.08%
    MONTGOMERY, AL (FHA|USDA|VA) 1 $155,000 $155,000 $2,899 5.31%
    Scottsboro, AL (FHA|USDA|VA) 1 $65,000 $65,000 $0 5,250.00%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.50%
    Peoples Bank Of Greensboro's top markets include Tuscaloosa, Birmingham, Daphne, Selma, and Montgomery among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 58 $4,350,000 $75,000 $851 95.92%

    For 2019, Peoples Bank Of Greensboro's most frequently originated type of loan was Conventional, with 58 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 27 $1,785,000 $66,111 $592 5.64%
    Home Purchase 26 $2,320,000 $89,231 $1,140 207.15%
    Home Improvement 4 $230,000 $57,500 $476 5.22%
    Other 1 $15,000 $15,000 $825 4.39%

    For 2019, Peoples Bank Of Greensboro's most frequently cited loan purpose was Refi, with 27 originations. The 2nd most popular reason was Home Purchase, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 31 $2,295,000 $74,032 $797 5.23%
    5 Year 20 $1,270,000 $63,500 $0 268.03%
    1 Year 4 $700,000 $175,000 $2,137 5.62%
    3 Year 3 $85,000 $28,333 $0 6.17%

    For 2019, Peoples Bank Of Greensboro's most frequently cited loan duration was Other, with 31 originations. The 2nd most popular length was 5 Year, with 20 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 25 $2,235,000 $89,400

    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 25 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 33 $3,115,000 $94,394
    4-5% 13 $715,000 $55,000
    6-7% 7 $155,000 $22,143
    7-8% 2 $10,000 $5,000
    3-4% 1 $5,000 $5,000
    2.5-3% 1 $285,000 $285,000
    Over 8% 1 $65,000 $65,000

    During 2019, Peoples Bank Of Greensboro's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 33 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 39 $1,365,000 $35,000 $634 140.06%
    $100k-200k 15 $1,955,000 $130,333 $1,319 5.48%
    $200k-400k 4 $1,030,000 $257,500 $261 4.78%

    2019 saw Peoples Bank Of Greensboro place emphasis on $100,000 or less loans with 39 originations, totaling $1,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 18 $820,000 $45,556 $644 5.27%
    $50k-75k 13 $1,025,000 $78,846 $1,291 5.55%
    $100k-150k 6 $510,000 $85,000 $272 5.82%
    $250k+ 6 $440,000 $73,333 $922 5.82%
    $150k-250k 4 $680,000 $170,000 $693 5.21%
    $75k-100k 4 $370,000 $92,500 $1,235 5.14%

    Peoples Bank Of Greensboro lent most frequently to those with incomes in the $50k or less range, with 18 originations. The second most popular income band? $50k-75k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 8 $870,000 $108,750 $730 5.11%
    30-36% 6 $460,000 $76,667 $963 4.73%
    >60% 3 $325,000 $108,333 $735 5.11%
    <20% 2 $70,000 $35,000 $306 4.88%
    41% 1 $15,000 $15,000 $825 4.39%
    43% 1 $155,000 $155,000 $2,899 5.31%
    44% 1 $165,000 $165,000 $922 5.53%
    50-60% 1 $25,000 $25,000 $722 4.71%
    38% 1 $25,000 $25,000 $422 4.79%

    Peoples Bank Of Greensboro lent most frequently to those with DTI ratios of 20-30%, with 8 originations. The next most common DTI ratio? 30-36%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 39 $3,195,000 $81,923 $721 5.51%
    Black 12 $650,000 $54,167 $1,126 5.26%
    Not applicable 7 $505,000 $72,143 $0 755.07%

    Approval Rates

    Total approvals of all applications
    98.41%

    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 origination
    93.10%

    Peoples Bank Of Greensboro has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 58 $4,350,000 $75,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $190,000 $47,500
    Single Family (1-4 Units):Manufactured 15 $565,000 $37,667
    Single Family (1-4 Units):Site-Built 39 $3,595,000 $92,179

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $480,000 $48,000 $859 5.57%
    40-60% 6 $300,000 $50,000 $486 5.66%
    60-80% 10 $930,000 $93,000 $650 5.47%
    80-100% 20 $2,240,000 $112,000 $1,032 267.62%
    Over 100% 2 $50,000 $25,000 $765 5.15%
    Under 20% 8 $250,000 $31,250 $725 5.47%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 3 21.4%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 4 28.6%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Closing on a mortgage 1 7.1%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Struggling to pay mortgage 2 14.3%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Trouble during payment process 1 7.1%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Other type of mortgage Trouble during payment process 2 14.3%