Bank Of The Lowcountry Mortgage Rates, Fees & Info
Walterboro, SCLEI: 254900QQRCPCOBBNDA41
Tax ID: 57-0883963
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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, Greenville, and Hilton Head Island among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Of The Lowcountry has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
53Origination Dollar Volume (All Markets)
$9,955,000Top 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 |
|---|---|---|---|---|---|
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 16 | $6,400,000 | $400,000 | $1,957 | 5.64% |
| Outside of Metro Areas | 35 | $3,375,000 | $96,429 | $1,192 | 5.98% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 5.50% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $595 | 6.13% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 53 | $9,955,000 | $187,830 | $1,263 | 5.87% |
For 2019, Bank Of The Lowcountry's most frequently originated type of loan was Conventional, with 53 originations.
Loan Reason
For 2019, Bank Of The Lowcountry's most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Cash Out Refi, with 19 originations.
Loan Duration/Length
For 2019, Bank Of The Lowcountry's most frequently cited loan duration was 5 Year, with 26 originations. The 2nd most popular length was Other, with 25 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 18 | $1,120,000 | $62,222 |
| $1k-2k | 6 | $770,000 | $128,333 |
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 18 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 19 | $1,925,000 | $101,316 |
| 5-6% | 18 | $4,680,000 | $260,000 |
| 4-5% | 12 | $3,060,000 | $255,000 |
| 7-8% | 4 | $290,000 | $72,500 |
During 2019, 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 19 originations.
Loan Sizing
2019 saw Bank Of The Lowcountry place emphasis on $100,000 or less loans with 26 originations, totaling $1,120,000 in origination value.
Applicant Income
Bank Of The Lowcountry lent most frequently to those with incomes in the $50k or less range, with 12 originations. The second most popular income band? $50k-75k, with 11 originations.
Applicant Debt to Income Ratio
Bank Of The Lowcountry lent most frequently to those with DTI ratios of <20%, with 11 originations. The next most common DTI ratio? 20-30%, with 7 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications77.46%
Bank Of The Lowcountry has a below average approval rate.
Pick Rate
Approvals leading to origination96.23%
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 | 53 | $9,955,000 | $187,830 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF THE WEST | Conventional home mortgage | Struggling to pay mortgage | 1 | 7.1% |
| BANK OF THE WEST | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| BANK OF THE WEST | Other type of mortgage | Trouble during payment process | 1 | 7.1% |
| BANK OF THE WEST | Other type of mortgage | Closing on a mortgage | 1 | 7.1% |
| BANK OF THE WEST | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Trouble during payment process | 2 | 14.3% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| BANK OF THE WEST | Conventional home mortgage | Trouble during payment process | 6 | 42.9% |