Cape Fear Farm Credit Aca Mortgage Rates, Fees & Info
Fayetteville, NCLEI: 254900G55GOTPZQGH124
Tax ID: 56-2263556
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Mortgage Data
Review & Overview
Cape Fear Farm Credit Aca is a smaller mortgage company specializing in Home Purchase and Refi loans. Cape Fear Farm Credit Aca has a high proportion of conventional loans. Their top markets by origination volume include: Wilmington, Fayetteville, Lumberton, Myrtle Beach, and Rockingham among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Cape Fear Farm Credit Aca 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. Cape Fear Farm Credit Aca 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.
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Originations
53Origination Dollar Volume (All Markets)
$8,195,000Top 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 |
|---|---|---|---|---|---|
| WILMINGTON, NC (FHA|USDA|VA) | 7 | $2,685,000 | $383,571 | $3,320 | 6.52% |
| Outside of Metro Areas | 18 | $2,160,000 | $120,000 | $3,368 | 6.75% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 17 | $2,145,000 | $126,176 | $3,359 | 6.69% |
| Lumberton, NC (FHA|USDA|VA) | 8 | $1,020,000 | $127,500 | $3,102 | 6.68% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $2,624 | 5.60% |
| Rockingham, NC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.85% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 53 | $8,195,000 | $154,623 | $3,282 | 6.65% |
For 2018, Cape Fear Farm Credit Aca's most frequently originated type of loan was Conventional, with 53 originations.
Loan Reason
For 2018, Cape Fear Farm Credit Aca's most frequently cited loan purpose was Home Purchase, with 28 originations. The 2nd most popular reason was Refi, with 14 originations.
Loan Duration/Length
For 2018, Cape Fear Farm Credit Aca's most frequently cited loan duration was 30 Year, with 16 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 | 12 | $2,160,000 | $180,000 |
| $1k-2k | 11 | $1,115,000 | $101,364 |
| $2k-3k | 11 | $1,925,000 | $175,000 |
| $3k-4k | 2 | $500,000 | $250,000 |
Cape Fear Farm Credit Aca's average total fees were $3,510, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 12 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 37 | $5,745,000 | $155,270 |
| 5-6% | 7 | $1,595,000 | $227,857 |
| 7-8% | 7 | $695,000 | $99,286 |
| 4-5% | 1 | $75,000 | $75,000 |
| Over 8% | 1 | $85,000 | $85,000 |
During 2018, Cape Fear Farm Credit Aca's average interest rate for loans was 6.51%, while their most frequently originated rate bucket for loans was 6-7%, with 37 originations.
Loan Sizing
2018 saw Cape Fear Farm Credit Aca place emphasis on $100,000 or less loans with 26 originations, totaling $1,730,000 in origination value.
Applicant Income
Cape Fear Farm Credit Aca lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $150k-250k, with 10 originations.
Applicant Debt to Income Ratio
Cape Fear Farm Credit Aca lent most frequently to those with DTI ratios of <20%, with 6 originations. The next most common DTI ratio? 20-30%, with 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.00%
Cape Fear Farm Credit Aca has a below average approval rate.
Pick Rate
Approvals leading to origination75.47%
Cape Fear Farm Credit Aca has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 53 | $8,195,000 | $154,623 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 12 | $990,000 | $82,500 |
| Single Family (1-4 Units):Site-Built | 41 | $7,205,000 | $175,732 |