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 and Home Purchase loans. The Bank Of Fincastle has a high proportion of conventional loans. Their top markets by origination volume include: Roanoke, Lynchburg, and Staunton among others. We have data for 4 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 about average rates.

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    Originations

    46

    Origination Dollar Volume (All Markets)

    $9,010,000

    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) 37 $7,595,000 $205,270 $3,153 5.19%
    Outside of Metro Areas 3 $605,000 $201,667 $2,682 5.11%
    LYNCHBURG, VA (FHA|USDA|VA) 5 $535,000 $107,000 $3,054 4.99%
    STAUNTON, VA (FHA|USDA|VA) 1 $275,000 $275,000 $0 5.00%
    The Bank Of Fincastle's top markets include Roanoke, Lynchburg, and Staunton among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 40 $8,690,000 $217,250 $3,079 5.11%
    HELOC 6 $320,000 $53,333 n/a 5.46%

    For 2019, The Bank Of Fincastle's most frequently originated type of loan was Conventional, with 40 originations. Their 2nd most popular type was HELOC, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 22 $5,280,000 $240,000 $2,559 5.01%
    Home Purchase 11 $2,395,000 $217,727 $3,166 5.28%
    Other 6 $360,000 $60,000 $3,035 5.39%
    Cash Out Refi 5 $905,000 $181,000 $6,588 5.11%
    Home Improvement 2 $70,000 $35,000 $1,687 5.51%

    For 2019, The Bank Of Fincastle's most frequently cited loan purpose was Refi, with 22 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
    20 Year 21 $2,165,000 $103,095 $2,629 5.20%
    Other 9 $4,145,000 $460,556 $2,965 5.21%
    15 Year 7 $1,095,000 $156,429 $3,035 5.23%
    30 Year 6 $1,450,000 $241,667 $4,007 4.82%
    10 Year 3 $155,000 $51,667 $1,796 5.20%

    For 2019, The Bank Of Fincastle's most frequently cited loan duration was 20 Year, with 21 originations. The 2nd most popular length was Other, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 7 $815,000 $116,429
    $1k-2k 6 $700,000 $116,667
    $2k-3k 1 $295,000 $295,000
    $4k-5k 1 $395,000 $395,000

    The Bank Of Fincastle's average total fees were $4,007, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 7 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 29 $4,855,000 $167,414
    4-5% 17 $4,155,000 $244,412

    During 2019, The Bank Of Fincastle's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 5-6%, with 29 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 20 $1,170,000 $58,500 $2,365 5.25%
    $100k-200k 15 $2,015,000 $134,333 $2,890 5.14%
    $200k-400k 8 $2,630,000 $328,750 $4,821 4.96%
    $1MM+ 2 $2,500,000 $1,250,000 $0 5.00%
    $600k-1MM 1 $695,000 $695,000 $0 5.50%

    2019 saw The Bank Of Fincastle place emphasis on $100,000 or less loans with 20 originations, totaling $1,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 8 $710,000 $88,750 $2,694 5.23%
    $50k-75k 5 $605,000 $121,000 $2,918 5.07%
    $150k-250k 4 $710,000 $177,500 $3,747 5.24%
    $250k+ 4 $570,000 $142,500 $2,834 5.07%
    $100k-150k 1 $35,000 $35,000 $0 6.00%
    $75k-100k 1 $45,000 $45,000 $0 5.50%

    The Bank Of Fincastle lent most frequently to those with incomes in the $50k or less range, with 8 originations. The second most popular income band? $50k-75k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 6 $1,050,000 $175,000 $3,652 5.31%
    30-36% 4 $340,000 $85,000 $2,370 5.14%
    46% 2 $310,000 $155,000 $5,243 5.13%
    36% 2 $160,000 $80,000 $0 5.75%
    42% 1 $75,000 $75,000 $0 4.75%
    47% 1 $195,000 $195,000 $2,838 4.99%
    <20% 1 $75,000 $75,000 $2,384 5.96%
    48% 1 $45,000 $45,000 $1,904 4.59%
    38% 1 $105,000 $105,000 $2,396 5.25%
    40% 1 $125,000 $125,000 $2,968 5.09%
    41% 1 $45,000 $45,000 $0 5.50%

    The Bank Of Fincastle lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 30-36%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 23 $6,335,000 $275,435 $0 5.10%
    White 22 $2,570,000 $116,818 $3,131 5.21%
    Black 1 $105,000 $105,000 $2,396 5.25%

    Approval Rates

    Total approvals of all applications
    73.97%

    The Bank Of Fincastle has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.61%

    The Bank Of Fincastle has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    1765.0 1 $125,000 $125,000
    NA 45 $8,885,000 $197,444

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $2,145,000 $715,000
    Single Family (1-4 Units):Manufactured 3 $695,000 $231,667
    Single Family (1-4 Units):Site-Built 40 $6,170,000 $154,250

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $450,000 $112,500 $2,125 5.25%
    40-60% 3 $1,605,000 $535,000 $2,838 4.88%
    60-80% 25 $5,335,000 $213,400 $3,234 5.14%
    80-100% 9 $1,315,000 $146,111 $3,526 5.01%
    Over 100% 1 $185,000 $185,000 $0 5.50%
    Under 20% 4 $120,000 $30,000 $1,687 5.63%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    TD BANK US HOLDING COMPANY Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 7 6.9%
    TD BANK US HOLDING COMPANY Conventional home mortgage Closing on a mortgage 10 9.8%
    TD BANK US HOLDING COMPANY Conventional home mortgage Struggling to pay mortgage 7 6.9%
    TD BANK US HOLDING COMPANY Conventional home mortgage Trouble during payment process 34 33.3%
    TD BANK US HOLDING COMPANY FHA mortgage Struggling to pay mortgage 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 4 3.9%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Closing on a mortgage 4 3.9%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Incorrect information on your report 2 2.0%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Struggling to pay mortgage 7 6.9%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Trouble during payment process 13 12.7%
    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 Incorrect information on your report 2 2.0%
    TD BANK US HOLDING COMPANY Other type of mortgage Struggling to pay mortgage 2 2.0%
    TD BANK US HOLDING COMPANY Other type of mortgage Trouble during payment process 7 6.9%
    TD BANK US HOLDING COMPANY Reverse mortgage Closing on a mortgage 1 1.0%