Heritage Bank & Trust Mortgage Rates, Fees & Info

Columbia, TN

LEI: 5493000QUE28T1SH6H86

Tax ID: 20-2248294

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Mortgage Data

Review & Overview

Heritage Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. Heritage Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Nashville, Lawrenceburg, Lewisburg, Panama City, and Tullahoma among others. We have data for 7 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 an above average pick rate when compared to similar lenders.

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Originations

119

Origination Dollar Volume (All Markets)

$31,845,000

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) 52 $16,620,000 $319,615 $0 0.00%
Lawrenceburg, TN (FHA|USDA|VA) 49 $8,155,000 $166,429 $0 0.00%
Outside of Metro Areas 12 $2,230,000 $185,833 $0 0.00%
Lewisburg, TN (FHA|USDA|VA) 3 $1,855,000 $618,333 $0 0.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $1,565,000 $1,565,000 $0 0.00%
Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $1,305,000 $1,305,000 $0 0.00%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
Heritage Bank & Trust's top markets include Nashville, Lawrenceburg, Lewisburg, Panama City, and Tullahoma among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 119 $31,845,000 $267,605 $0 0.00%

    For 2021, Heritage Bank & Trust's most frequently originated type of loan was Conventional, with 119 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 60 $20,490,000 $341,500 $0 0.00%
    Refi 51 $10,775,000 $211,275 $0 0.00%
    Home Improvement 5 $175,000 $35,000 $0 0.00%
    Other 3 $405,000 $135,000 $0 0.00%

    For 2021, Heritage Bank & Trust's most frequently cited loan purpose was Home Purchase, with 60 originations. The 2nd most popular reason was Refi, with 51 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 119 $31,845,000 $267,605 $0 0.00%

    For 2021, Heritage Bank & Trust's most frequently cited loan duration was Other, with 119 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 44 $6,450,000 $146,591 $0 0.00%
    $200k-400k 31 $8,605,000 $277,581 $0 0.00%
    $100,000 or less 24 $1,510,000 $62,917 $0 0.00%
    $400k-600k 11 $5,505,000 $500,455 $0 0.00%
    $600k-1MM 5 $3,735,000 $747,000 $0 0.00%
    $1MM+ 4 $6,040,000 $1,510,000 $0 0.00%

    2021 saw Heritage Bank & Trust place emphasis on $100k-200k loans with 44 originations, totaling $6,450,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 26 $4,720,000 $181,538 $0 0.00%
    $150k-250k 24 $8,840,000 $368,333 $0 0.00%
    $75k-100k 19 $3,465,000 $182,368 $0 0.00%
    $50k-75k 15 $1,945,000 $129,667 $0 0.00%
    $50k or less 14 $1,810,000 $129,286 $0 0.00%
    $250k+ 11 $6,975,000 $634,091 $0 0.00%

    Heritage Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 26 originations. The second most popular income band? $150k-250k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 119 $31,845,000 $267,605 $0 0.00%

    Heritage Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 119 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 107 $27,575,000 $257,710 $0 0.00%
    Not applicable 10 $4,090,000 $409,000 $0 0.00%
    Not provided 1 $105,000 $105,000 $0 0.00%
    Black 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.33%

    Heritage Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    96.64%

    Heritage Bank & Trust 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
    Exempt 119 $31,845,000 $267,605

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    119 $31,845,000 $267,605