The Bank Of Fincastle Mortgage Rates, Fees & Info

Fincastle, VA

LEI: 254900BOZW11W5XQDE38

Tax ID: 54-0132600

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

    The Bank Of Fincastle is a smaller bank specializing in Refi loans. The Bank Of Fincastle has a high proportion of conventional loans. Their top markets by origination volume include: Roanoke, Lynchburg, Staunton, and Charlottesville among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Bank Of Fincastle has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. The Bank Of Fincastle is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

    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

    70

    Origination Dollar Volume (All Markets)

    $11,510,000

    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
    ROANOKE, VA (FHA|USDA|VA) 58 $9,690,000 $167,069 $2,925 5.33%
    Outside of Metro Areas 4 $740,000 $185,000 $5,134 5.09%
    LYNCHBURG, VA (FHA|USDA|VA) 5 $495,000 $99,000 $2,499 5.42%
    STAUNTON, VA (FHA|USDA|VA) 2 $440,000 $220,000 $0 5.54%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $145,000 $145,000 $3,201 5.88%
    The Bank Of Fincastle's top markets include Roanoke, Lynchburg, Staunton, and Charlottesville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 53 $8,725,000 $164,623 $3,027 5.34%
    HELOC 17 $2,785,000 $163,824 n/a 5.33%

    For 2018, The Bank Of Fincastle's most frequently originated type of loan was Conventional, with 53 originations. Their 2nd most popular type was HELOC, with 17 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 25 $6,085,000 $243,400 $3,281 5.29%
    Cash Out Refi 14 $1,820,000 $130,000 $2,115 5.26%
    Home Purchase 13 $1,835,000 $141,154 $2,997 5.39%
    Other 9 $895,000 $99,444 $0 5.38%
    Home Improvement 5 $515,000 $103,000 $2,083 5.57%
    NA 4 $360,000 $90,000 $0 5.31%

    For 2018, The Bank Of Fincastle's most frequently cited loan purpose was Refi, with 25 originations. The 2nd most popular reason was Cash Out Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 41 $5,565,000 $135,732 $2,527 5.25%
    Other 13 $2,625,000 $201,923 $0 5.30%
    30 Year 12 $1,690,000 $140,833 $3,376 5.74%
    1 Year 2 $1,550,000 $775,000 $0 4.75%
    10 Year 1 $35,000 $35,000 $0 5.50%
    15 Year 1 $45,000 $45,000 $2,041 5.60%

    For 2018, The Bank Of Fincastle's most frequently cited loan duration was 20 Year, with 41 originations. The 2nd most popular length was Other, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 7 $855,000 $122,143
    $<1k 6 $320,000 $53,333
    $2k-3k 2 $470,000 $235,000
    $3k-4k 1 $335,000 $335,000

    The Bank Of Fincastle's average total fees were $3,376, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 7 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 40 $4,780,000 $119,500
    4-5% 25 $5,915,000 $236,600
    6-7% 4 $510,000 $127,500
    3-4% 1 $305,000 $305,000

    During 2018, The Bank Of Fincastle's average interest rate for loans was 5.74%, while their most frequently originated rate bucket for loans was 5-6%, with 40 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 35 $2,145,000 $61,286 $2,203 5.41%
    $100k-200k 20 $2,700,000 $135,000 $2,987 5.28%
    $200k-400k 11 $2,965,000 $269,545 $4,768 5.34%
    $1MM+ 2 $2,750,000 $1,375,000 $0 4.75%
    $400k-600k 2 $950,000 $475,000 $0 5.25%

    2018 saw The Bank Of Fincastle place emphasis on $100,000 or less loans with 35 originations, totaling $2,145,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 12 $1,080,000 $90,000 $2,933 5.58%
    $50k-75k 8 $970,000 $121,250 $3,330 5.58%
    $50k or less 8 $440,000 $55,000 $2,476 5.68%
    $100k-150k 5 $935,000 $187,000 $0 5.30%
    $150k-250k 5 $955,000 $191,000 $5,134 4.97%
    $250k+ 3 $225,000 $75,000 $0 4.75%

    The Bank Of Fincastle lent most frequently to those with incomes in the $75k-100k range, with 12 originations. The second most popular income band? $50k-75k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 9 $1,565,000 $173,889 $3,905 5.55%
    <20% 7 $735,000 $105,000 $2,163 5.10%
    20-30% 4 $190,000 $47,500 $2,258 5.91%
    37% 4 $540,000 $135,000 $2,865 5.11%
    50-60% 3 $435,000 $145,000 $3,688 5.48%
    40% 3 $165,000 $55,000 $2,915 5.83%
    >60% 2 $250,000 $125,000 $3,201 5.44%
    36% 2 $160,000 $80,000 $0 5.38%
    46% 2 $110,000 $55,000 $0 5.38%
    38% 1 $35,000 $35,000 $0 5.50%
    49% 1 $135,000 $135,000 $3,236 5.50%
    39% 1 $185,000 $185,000 $0 5.25%
    42% 1 $35,000 $35,000 $2,115 5.50%

    The Bank Of Fincastle lent most frequently to those with DTI ratios of 30-36%, with 9 originations. The next most common DTI ratio? <20%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 28 $6,820,000 $243,571 $0 5.22%
    White 39 $4,495,000 $115,256 $3,076 5.40%
    Black 3 $195,000 $65,000 $2,285 5.54%

    Approval Rates

    Total approvals of all applications
    86.54%

    The Bank Of Fincastle has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.71%

    The Bank Of Fincastle has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 70 $11,510,000 $164,429

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $2,060,000 $515,000
    Single Family (1-4 Units):Manufactured 6 $580,000 $96,667
    Single Family (1-4 Units):Site-Built 60 $8,870,000 $147,833

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $615,000 $68,333 $2,083 5.22%
    40-60% 10 $1,670,000 $167,000 $3,318 5.34%
    60-80% 23 $4,625,000 $201,087 $2,797 5.32%
    80-100% 19 $2,825,000 $148,684 $3,363 5.37%
    Over 100% 2 $1,420,000 $710,000 $0 5.25%
    Under 20% 6 $240,000 $40,000 $0 5.58%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    TD BANK US HOLDING COMPANY Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 10 9.8%
    TD BANK US HOLDING COMPANY Conventional home mortgage Closing on a mortgage 4 3.9%
    TD BANK US HOLDING COMPANY Conventional home mortgage Incorrect information on your report 1 1.0%
    TD BANK US HOLDING COMPANY Conventional home mortgage Struggling to pay mortgage 6 5.9%
    TD BANK US HOLDING COMPANY Conventional home mortgage Trouble during payment process 30 29.4%
    TD BANK US HOLDING COMPANY FHA mortgage Incorrect information on your report 1 1.0%
    TD BANK US HOLDING COMPANY FHA mortgage Struggling to pay mortgage 4 3.9%
    TD BANK US HOLDING COMPANY FHA mortgage Trouble during payment process 1 1.0%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 8 7.8%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Closing on a mortgage 3 2.9%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Incorrect information on your report 1 1.0%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Problem with a credit reporting company's investigation into an existing problem 1 1.0%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Struggling to pay mortgage 3 2.9%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Trouble during payment process 14 13.7%
    TD BANK US HOLDING COMPANY Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 1.0%
    TD BANK US HOLDING COMPANY Other type of mortgage Closing on a mortgage 3 2.9%
    TD BANK US HOLDING COMPANY Other type of mortgage Struggling to pay mortgage 4 3.9%
    TD BANK US HOLDING COMPANY Other type of mortgage Trouble during payment process 7 6.9%