Bank Of Zachary Mortgage Rates, Fees & Info

Zachary, LA

LEI: 254900J71IJLMJZJV608

Tax ID: 72-0125130

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Bank Of Zachary is a smaller bank specializing in Home Purchase and Refi loans. Bank Of Zachary has a high proportion of conventional loans. Their top markets by origination volume include: Baton Rouge, Daphne, Lafayette, Jackson, and Nashville among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bank Of Zachary has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

140

Origination Dollar Volume (All Markets)

$29,140,000

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
BATON ROUGE, LA (FHA|USDA|VA) 120 $23,930,000 $199,417 $0 0.00%
Outside of Metro Areas 7 $1,915,000 $273,571 $0 0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $665,000 $665,000 $0 0.00%
LAFAYETTE, LA (FHA|USDA|VA) 4 $630,000 $157,500 $0 0.00%
JACKSON, MS (FHA|USDA|VA) 1 $555,000 $555,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
LAKE CHARLES, LA (FHA|USDA|VA) 2 $350,000 $175,000 $0 0.00%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
ALEXANDRIA, LA (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
HAMMOND, LA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Bank Of Zachary's top markets include Baton Rouge, Daphne, Lafayette, Jackson, and Nashville among others.

Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 140 $29,140,000 $208,143 $0 0.00%

    For 2022, Bank Of Zachary's most frequently originated type of loan was Conventional, with 140 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 77 $20,395,000 $264,870 $0 0.00%
    Refi 45 $7,525,000 $167,222 $0 0.00%
    Home Improvement 10 $740,000 $74,000 $0 0.00%
    Other 8 $480,000 $60,000 $0 0.00%

    For 2022, Bank Of Zachary's most frequently cited loan purpose was Home Purchase, with 77 originations. The 2nd most popular reason was Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 140 $29,140,000 $208,143 $0 0.00%

    For 2022, Bank Of Zachary's most frequently cited loan duration was Other, with 140 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 47 $7,135,000 $151,809 $0 0.00%
    $100,000 or less 40 $2,210,000 $55,250 $0 0.00%
    $200k-400k 35 $9,755,000 $278,714 $0 0.00%
    $400k-600k 12 $5,800,000 $483,333 $0 0.00%
    $600k-1MM 6 $4,240,000 $706,667 $0 0.00%

    2022 saw Bank Of Zachary place emphasis on $100k-200k loans with 47 originations, totaling $7,135,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 25 $5,845,000 $233,800 $0 0.00%
    $150k-250k 18 $5,410,000 $300,556 $0 0.00%
    $50k-75k 18 $2,460,000 $136,667 $0 0.00%
    $250k+ 12 $4,540,000 $378,333 $0 0.00%
    $50k or less 12 $1,240,000 $103,333 $0 0.00%
    $75k-100k 5 $855,000 $171,000 $0 0.00%

    Bank Of Zachary lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $150k-250k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 140 $29,140,000 $208,143 $0 0.00%

    Bank Of Zachary lent most frequently to those with DTI ratios of Exempt%, with 140 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 80 $17,240,000 $215,500 $0 0.00%
    Not applicable 41 $7,515,000 $183,293 $0 0.00%
    Black 11 $2,385,000 $216,818 $0 0.00%
    Not provided 7 $1,805,000 $257,857 $0 0.00%
    Chinese 1 $195,000 $195,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.80%

    Bank Of Zachary has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.86%

    Bank Of Zachary has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 140 $29,140,000 $208,143

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    140 $29,140,000 $208,143

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    BANK OF AMERICA, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Trouble during payment process 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 20.0%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 7 46.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION FHA mortgage Struggling to pay mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 6.7%