Uwharrie Bank Mortgage Rates, Fees & Info

Albemarle, NC

LEI: 5493001LHLYJE6PHUL18

Tax ID: 56-1366219

5 stars - Updated: 10/13/24 - out of 5 stars, based on 25 reviews

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

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Mortgage Data

Review & Overview

Uwharrie Bank is a smaller bank specializing in Home Purchase loans. Uwharrie Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Charlotte, Albemarle, Jacksonville, Raleigh, and Myrtle Beach among others. We have data for 38 markets. (Some data included below & more in-depth data is available with an active subscription.)

Uwharrie Bank 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. Uwharrie Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.15% 10/13/24
30 Year Conventional Purchase 6.67% 10/13/24
30 Year Conventional Refi 6.74% 10/13/24
30 Year Cash-out Refi 6.72% 10/13/24
30 Year FHA Purchase 7.34% 10/13/24
30 Year VA Purchase 6.21% 10/13/24
30 Year USDA Purchase 6.82% 10/13/24
15 Year Conventional Purchase 6.95% 10/13/24
15 Year Conventional Refi 6.54% 10/13/24
15 Year Cash-out Refi 6.54% 10/13/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Uwharrie Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Uwharrie Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

644

Origination Dollar Volume (All Markets)

$161,390,000

Awards

Uwharrie Bank 30 Year Conventional Loans gold Uwharrie Bank 30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

Uwharrie Bank's average 30 year fixed mortgage rate was 6.8%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.32%.

Relative Fees (Closing Costs)

Uwharrie Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,588.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 352 $98,240,000 $279,091 $5,931 7.28%
Albemarle, NC (FHA|USDA|VA) 191 $31,895,000 $166,990 $4,592 7.61%
Outside of Metro Areas 25 $7,325,000 $293,000 $3,976 7.27%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $3,070,000 $1,535,000 $19,435 6.23%
RALEIGH-CARY, NC (FHA|USDA|VA) 7 $2,135,000 $305,000 $6,615 7.02%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 9 $2,055,000 $228,333 $4,869 7.07%
WINSTON-SALEM, NC (FHA|USDA|VA) 10 $2,000,000 $200,000 $3,585 6.59%
ASHEVILLE, NC (FHA|USDA|VA) 3 $1,675,000 $558,333 $7,418 5.87%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $9,654 4.61%
Forest City, NC (FHA|USDA|VA) 3 $995,000 $331,667 $4,094 7.79%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 4 $990,000 $247,500 $8,979 6.84%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 4 $810,000 $202,500 $3,260 7.85%
Rockingham, NC (FHA|USDA|VA) 3 $795,000 $265,000 $3,674 6.94%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $725,000 $725,000 $5,028 7.50%
Shelby, NC (FHA|USDA|VA) 1 $675,000 $675,000 $12,978 6.75%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $675,000 $675,000 $4,546 7.25%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $660,000 $330,000 $3,240 6.69%
DALTON, GA (FHA|USDA|VA) 1 $625,000 $625,000 $0 5.84%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $465,000 $465,000 $3,930 6.50%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $455,000 $455,000 $13,783 7.38%
SPARTANBURG, SC (FHA|USDA|VA) 1 $445,000 $445,000 $0 8.25%
Aberdeen, WA (FHA|USDA|VA) 1 $435,000 $435,000 $7,223 7.00%
WILMINGTON, NC (FHA|USDA|VA) 2 $390,000 $195,000 $6,424 8.06%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $305,000 $305,000 $4,876 7.13%
COLUMBIA, SC (FHA|USDA|VA) 1 $275,000 $275,000 $9,673 6.25%
CHARLESTON, WV (FHA|USDA|VA) 1 $275,000 $275,000 $4,400 6.75%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 2 $260,000 $130,000 $2,025 7.73%
Boone, NC (FHA|USDA|VA) 2 $260,000 $130,000 $3,384 8.00%
Marion, NC (FHA|USDA|VA) 1 $255,000 $255,000 $1,852 7.50%
NEW BERN, NC (FHA|USDA|VA) 1 $245,000 $245,000 $4,203 6.88%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $175,000 $175,000 $2,090 6.21%
Morehead City, NC (FHA|USDA|VA) 1 $165,000 $165,000 $4,610 7.00%
Roanoke Rapids, NC (FHA|USDA|VA) 1 $155,000 $155,000 $3,525 6.63%
FAYETTEVILLE, NC (FHA|USDA|VA) 2 $130,000 $65,000 $3,487 7.11%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $125,000 $125,000 $3,639 6.88%
BURLINGTON, NC (FHA|USDA|VA) 1 $95,000 $95,000 $4,372 7.50%
Georgetown, SC (FHA|USDA|VA) 1 $75,000 $75,000 $0 8.50%
Lumberton, NC (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.25%
Uwharrie Bank's top markets include Charlotte, Albemarle, Jacksonville, Raleigh, and Myrtle Beach among others.

Their top states include:
  • North Carolina (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Uwharrie Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SCIENT Federal Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 332 $112,800,000 $339,759 $4,368 6.93%
    HELOC 245 $27,505,000 $112,265 n/a 8.13%
    FHA 54 $16,770,000 $310,556 $11,473 6.60%
    VA 8 $3,330,000 $416,250 $9,782 6.23%
    USDA 5 $985,000 $197,000 $7,053 6.58%

    For 2023, Uwharrie Bank's most frequently originated type of loan was Conventional, with 332 originations. Their 2nd most popular type was HELOC, with 245 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 360 $124,020,000 $344,500 $5,791 6.88%
    Home Improvement 123 $12,395,000 $100,772 $4,193 8.10%
    Other 88 $12,160,000 $138,182 $2,759 7.96%
    Refi 63 $9,655,000 $153,254 $2,185 7.80%
    Cash Out Refi 10 $3,160,000 $316,000 $7,275 6.80%

    For 2023, Uwharrie Bank's most frequently cited loan purpose was Home Purchase, with 360 originations. The 2nd most popular reason was Home Improvement, with 123 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 337 $113,155,000 $335,772 $5,588 6.80%
    15 Year 259 $29,905,000 $115,463 $2,036 8.07%
    30+ year 22 $10,740,000 $488,182 $6,902 7.62%
    20 Year 16 $5,210,000 $325,625 $3,315 6.75%
    1 Year 6 $1,420,000 $236,667 $5,174 6.52%
    Other 3 $945,000 $315,000 $4,320 8.10%
    3 Year 1 $15,000 $15,000 $62 11.75%

    For 2023, Uwharrie Bank's most frequently cited loan duration was 30 Year, with 337 originations. The 2nd most popular length was 15 Year, with 259 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 143 $50,805,000 $355,280
    $1k-2k 72 $18,040,000 $250,556
    $2k-3k 66 $20,160,000 $305,455
    $3k-4k 41 $13,155,000 $320,854
    $5k+ 31 $16,695,000 $538,548
    $4k-5k 24 $9,240,000 $385,000

    Uwharrie Bank's average total fees were $5,588, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 143 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 237 $54,295,000 $229,093
    6-7% 203 $65,355,000 $321,946
    Over 8% 165 $20,645,000 $125,121
    5-6% 36 $18,650,000 $518,056
    4-5% 3 $2,445,000 $815,000

    During 2023, Uwharrie Bank's average interest rate for loans was 6.80%, while their most frequently originated rate bucket for loans was 7-8%, with 237 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 206 $59,450,000 $288,592 $6,008 6.95%
    $100k-200k 171 $24,185,000 $141,433 $3,769 7.51%
    $100,000 or less 154 $9,270,000 $60,195 $2,518 8.08%
    $400k-600k 70 $33,690,000 $481,286 $6,853 7.02%
    $600k-1MM 36 $25,260,000 $701,667 $6,249 6.77%
    $1MM+ 7 $9,535,000 $1,362,143 $7,689 5.41%

    2023 saw Uwharrie Bank place emphasis on $200k-400k loans with 206 originations, totaling $59,450,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 146 $44,330,000 $303,630 $5,456 7.42%
    $100k-150k 144 $33,580,000 $233,194 $5,797 7.41%
    $50k-75k 108 $17,900,000 $165,741 $5,138 7.36%
    $75k-100k 106 $21,780,000 $205,472 $6,234 7.31%
    $250k+ 70 $33,240,000 $474,857 $6,556 7.10%
    $50k or less 52 $5,640,000 $108,462 $3,164 7.52%

    Uwharrie Bank lent most frequently to those with incomes in the $150k-250k range, with 146 originations. The second most popular income band? $100k-150k, with 144 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 113 $22,225,000 $196,681 $4,753 7.45%
    30-36% 103 $22,125,000 $214,806 $5,193 7.51%
    <20% 52 $8,260,000 $158,846 $3,646 7.64%
    41% 30 $8,320,000 $277,333 $5,349 7.45%
    42% 29 $6,295,000 $217,069 $5,406 7.32%
    44% 29 $9,685,000 $333,966 $7,569 7.32%
    39% 23 $6,185,000 $268,913 $4,469 7.27%
    43% 22 $6,150,000 $279,545 $5,172 7.20%
    36% 21 $4,765,000 $226,905 $5,603 7.26%
    37% 20 $5,580,000 $279,000 $5,914 7.18%
    40% 19 $3,975,000 $209,211 $3,823 7.10%
    50-60% 19 $6,385,000 $336,053 $10,603 6.59%
    48% 17 $5,005,000 $294,412 $6,584 7.06%
    38% 16 $4,470,000 $279,375 $5,358 7.17%
    46% 13 $4,345,000 $334,231 $7,740 7.01%
    47% 11 $3,015,000 $274,091 $5,646 7.50%
    49% 11 $4,215,000 $383,182 $6,511 7.00%
    45% 10 $2,730,000 $273,000 $4,223 6.93%
    >60% 3 $1,025,000 $341,667 $8,528 7.74%

    Uwharrie Bank lent most frequently to those with DTI ratios of 20-30%, with 113 originations. The next most common DTI ratio? 30-36%, with 103 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 481 $110,605,000 $229,948 $5,115 7.46%
    Not provided 108 $32,570,000 $301,574 $5,982 7.05%
    Black 29 $7,875,000 $271,552 $8,077 7.05%
    Asian 12 $5,410,000 $450,833 $6,170 7.10%
    Not applicable 11 $3,855,000 $350,455 $0 6.48%
    Asian Indian 1 $715,000 $715,000 $12,421 8.13%
    Other Asian 1 $265,000 $265,000 $5,532 7.50%
    American Indian 1 $95,000 $95,000 $0 8.25%

    Approval Rates

    Total approvals of all applications
    93.45%

    Uwharrie Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.25%

    Uwharrie Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 644 $161,390,000 $250,606

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    644 $161,390,000 $250,606

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 120 $15,290,000 $127,417 $2,905 7.91%
    40-60% 76 $18,760,000 $246,842 $3,886 7.44%
    60-80% 132 $42,460,000 $321,667 $5,071 7.04%
    80-100% 209 $76,145,000 $364,330 $6,455 6.79%
    Over 100% 1 $525,000 $525,000 $12,619 6.38%
    Under 20% 103 $8,005,000 $77,718 $1,972 8.17%