Heritage Bank & Trust Mortgage Rates, Fees & Info

Columbia, TN

LEI: 5493000QUE28T1SH6H86

Tax ID: 20-2248294

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

Jump to:

Mortgage Data

Review & Overview

Heritage Bank & Trust is a smaller bank specializing in Refi and Home Purchase loans. Heritage Bank & Trust has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Nashville, Lawrenceburg, Tullahoma, Panama City, and Mcminnville among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Heritage Bank & Trust 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.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


Originations

129

Origination Dollar Volume (All Markets)

$30,145,000

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
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 59 $17,025,000 $288,559 $0 0.00%
Lawrenceburg, TN (FHA|USDA|VA) 45 $6,825,000 $151,667 $0 0.00%
Outside of Metro Areas 15 $2,615,000 $174,333 $0 0.00%
Tullahoma-Manchester, TN (FHA|USDA|VA) 2 $1,120,000 $560,000 $0 0.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $1,045,000 $1,045,000 $0 0.00%
McMinnville, TN (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
Lewisburg, TN (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Heritage Bank & Trust's top markets include Nashville, Lawrenceburg, Tullahoma, Panama City, and Mcminnville among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 128 $29,860,000 $233,281 $0 0.00%
    USDA 1 $285,000 $285,000 $0 0.00%

    For 2023, Heritage Bank & Trust's most frequently originated type of loan was Conventional, with 128 originations. Their 2nd most popular type was USDA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 55 $11,295,000 $205,364 $0 0.00%
    Home Purchase 53 $16,045,000 $302,736 $0 0.00%
    Other 12 $1,080,000 $90,000 $0 0.00%
    Cash Out Refi 8 $1,680,000 $210,000 $0 0.00%
    Home Improvement 1 $45,000 $45,000 $0 0.00%

    For 2023, Heritage Bank & Trust's most frequently cited loan purpose was Refi, with 55 originations. The 2nd most popular reason was Home Purchase, with 53 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 129 $30,145,000 $233,682 $0 0.00%

    For 2023, Heritage Bank & Trust's most frequently cited loan duration was Other, with 129 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 45 $2,695,000 $59,889 $0 0.00%
    $100k-200k 33 $4,825,000 $146,212 $0 0.00%
    $200k-400k 30 $7,990,000 $266,333 $0 0.00%
    $400k-600k 12 $5,950,000 $495,833 $0 0.00%
    $600k-1MM 7 $4,565,000 $652,143 $0 0.00%
    $1MM+ 2 $4,120,000 $2,060,000 $0 0.00%

    2023 saw Heritage Bank & Trust place emphasis on $100,000 or less loans with 45 originations, totaling $2,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 32 $3,920,000 $122,500 $0 0.00%
    $100k-150k 23 $4,625,000 $201,087 $0 0.00%
    $150k-250k 21 $5,435,000 $258,810 $0 0.00%
    $50k or less 16 $1,410,000 $88,125 $0 0.00%
    $75k-100k 15 $3,085,000 $205,667 $0 0.00%
    $250k+ 13 $7,805,000 $600,385 $0 0.00%

    Heritage Bank & Trust lent most frequently to those with incomes in the $50k-75k range, with 32 originations. The second most popular income band? $100k-150k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 129 $30,145,000 $233,682 $0 0.00%

    Heritage Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 129 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 110 $24,580,000 $223,455 $0 0.00%
    Not applicable 9 $3,865,000 $429,444 $0 0.00%
    Black 5 $685,000 $137,000 $0 0.00%
    Asian Indian 1 $515,000 $515,000 $0 0.00%
    Not provided 1 $205,000 $205,000 $0 0.00%
    Asian 1 $155,000 $155,000 $0 0.00%
    Other Asian 1 $95,000 $95,000 $0 0.00%
    Native Hawaiian or Islander 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.08%

    Heritage Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    86.82%

    Heritage Bank & Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 129 $30,145,000 $233,682

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    129 $30,145,000 $233,682