Bank Of The Lowcountry Mortgage Rates, Fees & Info

Walterboro, SC

LEI: 254900QQRCPCOBBNDA41

Tax ID: 57-0883963

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

    Bank Of The Lowcountry is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Bank Of The Lowcountry has a high proportion of conventional loans. Their top markets by origination volume include: Charleston, Myrtle Beach, Columbia, Hilton Head Island, and Newberry among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

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

    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

    90

    Origination Dollar Volume (All Markets)

    $18,040,000

    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
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 28 $12,020,000 $429,286 $2,539 5.84%
    Outside of Metro Areas 55 $4,595,000 $83,545 $1,364 6.10%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $615,000 $615,000 $0 5.85%
    COLUMBIA, SC (FHA|USDA|VA) 3 $525,000 $175,000 $2,900 5.34%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $260,000 $130,000 $2,908 5.33%
    Newberry, SC (FHA|USDA|VA) 1 $25,000 $25,000 $346 5.15%
    Bank Of The Lowcountry's top markets include Charleston, Myrtle Beach, Columbia, Hilton Head Island, and Newberry among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 90 $18,040,000 $200,444 $1,689 5.96%

    For 2018, Bank Of The Lowcountry's most frequently originated type of loan was Conventional, with 90 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 44 $5,160,000 $117,273 $2,141 6.00%
    Refi 19 $2,235,000 $117,632 $1,260 5.88%
    Cash Out Refi 16 $10,070,000 $629,375 $2,638 5.74%
    Home Improvement 11 $575,000 $52,273 $612 6.29%

    For 2018, Bank Of The Lowcountry's most frequently cited loan purpose was Home Purchase, with 44 originations. The 2nd most popular reason was Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 50 $6,250,000 $125,000 $1,741 5.84%
    5 Year 36 $9,880,000 $274,444 $1,070 6.16%
    1 Year 4 $1,910,000 $477,500 $0 5.69%

    For 2018, Bank Of The Lowcountry's most frequently cited loan duration was Other, with 50 originations. The 2nd most popular length was 5 Year, with 36 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 39 $3,185,000 $81,667
    $1k-2k 12 $1,860,000 $155,000
    $2k-3k 1 $875,000 $875,000

    Bank Of The Lowcountry's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 39 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 36 $3,250,000 $90,278
    5-6% 29 $11,585,000 $399,483
    4-5% 13 $2,565,000 $197,308
    7-8% 11 $625,000 $56,818
    3-4% 1 $15,000 $15,000

    During 2018, Bank Of The Lowcountry's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 36 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 51 $2,695,000 $52,843 $1,268 6.22%
    $100k-200k 20 $2,990,000 $149,500 $2,519 5.74%
    $200k-400k 9 $2,335,000 $259,444 $1,568 5.62%
    $600k-1MM 5 $3,735,000 $747,000 $5,403 5.47%
    $400k-600k 3 $1,375,000 $458,333 $0 5.50%
    $1MM+ 2 $4,910,000 $2,455,000 $0 5.23%

    2018 saw Bank Of The Lowcountry place emphasis on $100,000 or less loans with 51 originations, totaling $2,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 23 $2,355,000 $102,391 $1,416 6.17%
    $75k-100k 21 $1,935,000 $92,143 $1,810 6.09%
    $50k-75k 18 $1,750,000 $97,222 $1,451 6.02%
    $250k+ 7 $3,025,000 $432,143 $2,992 5.68%
    $100k-150k 6 $720,000 $120,000 $2,572 5.60%
    $150k-250k 3 $395,000 $131,667 $1,511 5.33%

    Bank Of The Lowcountry lent most frequently to those with incomes in the $50k or less range, with 23 originations. The second most popular income band? $75k-100k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 23 $2,665,000 $115,870 $1,247 5.76%
    20-30% 21 $2,985,000 $142,143 $1,845 5.95%
    30-36% 10 $1,400,000 $140,000 $2,171 6.08%
    50-60% 6 $770,000 $128,333 $1,206 5.98%
    41% 4 $400,000 $100,000 $2,571 5.96%
    >60% 3 $745,000 $248,333 $1,161 6.25%
    48% 2 $120,000 $60,000 $1,556 5.75%
    37% 2 $270,000 $135,000 $1,754 6.38%
    42% 2 $190,000 $95,000 $1,618 6.56%
    44% 1 $55,000 $55,000 $0 6.25%
    45% 1 $75,000 $75,000 $0 6.50%
    47% 1 $325,000 $325,000 $2,144 4.75%
    39% 1 $75,000 $75,000 $0 7.00%
    36% 1 $155,000 $155,000 $2,818 6.25%
    38% 1 $5,000 $5,000 $993 7.13%
    43% 1 $115,000 $115,000 $116 5.38%

    Bank Of The Lowcountry lent most frequently to those with DTI ratios of <20%, with 23 originations. The next most common DTI ratio? 20-30%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 73 $9,545,000 $130,753 $1,631 5.92%
    Not applicable 10 $7,690,000 $769,000 $0 5.95%
    Black 7 $805,000 $115,000 $2,630 6.46%

    Approval Rates

    Total approvals of all applications
    92.16%

    Bank Of The Lowcountry has an average approval rate.

    Pick Rate

    Approvals leading to origination
    95.56%

    Bank Of The Lowcountry has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 90 $18,040,000 $200,444

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $340,000 $170,000
    Single Family (1-4 Units):Manufactured 33 $2,245,000 $68,030
    Single Family (1-4 Units):Site-Built 55 $15,455,000 $281,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $1,310,000 $163,750 $1,540 6.10%
    40-60% 16 $1,050,000 $65,625 $1,840 6.26%
    60-80% 53 $9,775,000 $184,434 $1,876 5.91%
    80-100% 9 $5,065,000 $562,778 $846 5.48%
    Over 100% 1 $765,000 $765,000 $0 5.50%
    Under 20% 3 $75,000 $25,000 $411 6.54%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BANK OF THE WEST FHA mortgage Closing on a mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 1 3.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.4%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Incorrect information on your report 2 7.4%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 3 11.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 5 18.5%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.7%