Peoples Community Bank Mortgage Rates, Fees & Info
Montross, VALEI: 254900P44V97GS5HR441
Tax ID: 54-0336300
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Mortgage Data
Review & Overview
Peoples Community Bank is a smaller bank specializing in Home Purchase and Refi loans. Peoples Community Bank has a high proportion of conventional loans. Their top two markets are Richmond and Washington .Peoples Community Bank 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.
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Originations
34Origination Dollar Volume (All Markets)
$9,680,000Top 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 |
|---|---|---|---|---|---|
| RICHMOND, VA (FHA|USDA|VA) | 23 | $6,715,000 | $291,957 | $0 | 0.00% |
| Outside of Metro Areas | 5 | $1,805,000 | $361,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 6 | $1,160,000 | $193,333 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 34 | $9,680,000 | $284,706 | $0 | 0.00% |
For 2019, Peoples Community Bank's most frequently originated type of loan was Conventional, with 34 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 19 | $5,365,000 | $282,368 | $0 | 0.00% |
| Refi | 14 | $4,280,000 | $305,714 | $0 | 0.00% |
| Home Improvement | 1 | $35,000 | $35,000 | $0 | 0.00% |
For 2019, Peoples Community Bank's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Refi, with 14 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 34 | $9,680,000 | $284,706 | $0 | 0.00% |
For 2019, Peoples Community Bank's most frequently cited loan duration was Other, with 34 originations.
Loan Sizing
2019 saw Peoples Community Bank place emphasis on $100k-200k loans with 13 originations, totaling $1,725,000 in origination value.
Applicant Income
Peoples Community Bank lent most frequently to those with incomes in the $250k+ range, with 6 originations. The second most popular income band? $150k-250k, with 4 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 34 | $9,680,000 | $284,706 | $0 | 0.00% |
Peoples Community Bank lent most frequently to those with DTI ratios of Exempt%, with 34 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.33%
Peoples Community Bank has a below average approval rate.
Pick Rate
Approvals leading to origination55.88%
Peoples Community Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 34 | $9,680,000 | $284,706 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $915,000 | $915,000 |
| Single Family (1-4 Units):Site-Built | 33 | $8,765,000 | $265,606 |
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% |