Uwharrie Bank Mortgage Rates, Fees & Info

Albemarle, NC

LEI: 5493001LHLYJE6PHUL18

Tax ID: 56-1366219

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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, Myrtle Beach, Hickory, and Raleigh among others. We have data for 20 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 a low 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 about average 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.15% 11/21/24
    30 Year Conventional Purchase 6.67% 11/21/24
    30 Year Conventional Refi 6.74% 11/21/24
    30 Year Cash-out Refi 6.72% 11/21/24
    30 Year FHA Purchase 7.34% 11/21/24
    30 Year VA Purchase 6.21% 11/21/24
    30 Year USDA Purchase 6.82% 11/21/24
    15 Year Conventional Purchase 6.95% 11/21/24
    15 Year Conventional Refi 6.54% 11/21/24
    15 Year Cash-out Refi 6.54% 11/21/24
    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

    507

    Origination Dollar Volume (All Markets)

    $104,965,000

    Employee count

    166 Show all (7) awards

    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) 332 $73,100,000 $220,181 $2,861 4.89%
    Albemarle, NC (FHA|USDA|VA) 117 $18,925,000 $161,752 $2,616 5.12%
    Outside of Metro Areas 15 $3,675,000 $245,000 $2,811 4.95%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 15 $3,355,000 $223,667 $2,680 4.88%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 5 $1,275,000 $255,000 $3,410 4.92%
    RALEIGH-CARY, NC (FHA|USDA|VA) 5 $1,185,000 $237,000 $2,338 4.72%
    WINSTON-SALEM, NC (FHA|USDA|VA) 2 $640,000 $320,000 $2,120 5.00%
    Boone, NC (FHA|USDA|VA) 2 $480,000 $240,000 $2,223 4.75%
    WILMINGTON, NC (FHA|USDA|VA) 2 $470,000 $235,000 $0 4.50%
    Shelby, NC (FHA|USDA|VA) 2 $330,000 $165,000 $2,862 5.06%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $255,000 $255,000 $1,547 5.25%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $215,000 $215,000 $3,346 4.99%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $205,000 $205,000 $2,860 4.63%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $185,000 $185,000 $2,184 5.13%
    Rockingham, NC (FHA|USDA|VA) 1 $165,000 $165,000 $2,545 4.88%
    Lumberton, NC (FHA|USDA|VA) 1 $125,000 $125,000 $1,785 4.75%
    GREENVILLE, NC (FHA|USDA|VA) 1 $115,000 $115,000 $3,102 4.50%
    Georgetown, SC (FHA|USDA|VA) 1 $115,000 $115,000 $2,421 4.75%
    North Wilkesboro, NC (FHA|USDA|VA) 1 $85,000 $85,000 $1,497 5.50%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $65,000 $65,000 $1,443 5.38%
    Uwharrie Bank's top markets include Charlotte, Albemarle, Myrtle Beach, Hickory, and Raleigh among others.

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

    Whitley Mortgage Associates, Inc.
    Similarity Rank: 258
    Belmont Savings Bank, SSB
    Similarity Rank: 390
    NewDominion Bank
    Similarity Rank: 602
    Coastal Carolina National Bank
    Similarity Rank: 756
    HOMESERVICES LENDING, LLC
    Similarity Rank: 884
    Residential Mortgage Corp
    Similarity Rank: 1365
    First Federal Bank
    Similarity Rank: 1734
    Amerisouth Mortgage Company
    Similarity Rank: 1794
    CORNING
    Similarity Rank: 1848
    United Bank
    Similarity Rank: 1938

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 443 $93,015,000 $209,966 $2,497 4.98%
    FHA 30 $5,350,000 $178,333 $5,761 4.74%
    USDA 19 $2,285,000 $120,263 $3,569 4.82%
    VA 15 $4,315,000 $287,667 $3,521 4.58%

    For 2018, Uwharrie Bank's most frequently originated type of loan was Conventional, with 443 originations. Their 2nd most popular type was FHA, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 403 $84,915,000 $210,707 $2,882 4.89%
    Refi 66 $12,500,000 $189,394 $2,210 5.29%
    Cash Out Refi 32 $6,720,000 $210,000 $2,587 5.00%
    Home Improvement 3 $475,000 $158,333 $1,966 4.95%
    Other 3 $355,000 $118,333 $2,414 5.04%

    For 2018, Uwharrie Bank's most frequently cited loan purpose was Home Purchase, with 403 originations. The 2nd most popular reason was Refi, with 66 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 412 $89,810,000 $217,985 $2,828 4.90%
    15 Year 45 $6,625,000 $147,222 $2,391 4.88%
    20 Year 36 $6,830,000 $189,722 $2,444 5.28%
    10 Year 6 $640,000 $106,667 $4,431 4.74%
    5 Year 4 $590,000 $147,500 $0 5.40%
    Other 4 $470,000 $117,500 $1,553 7.61%

    For 2018, Uwharrie Bank's most frequently cited loan duration was 30 Year, with 412 originations. The 2nd most popular length was 15 Year, with 45 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 372 $79,080,000 $212,581
    $1k-2k 59 $10,825,000 $183,475
    $2k-3k 23 $4,215,000 $183,261
    $3k-4k 11 $3,025,000 $275,000
    $4k-5k 6 $1,600,000 $266,667
    $5k+ 1 $775,000 $775,000

    Uwharrie Bank's average total fees were $2,828, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 372 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 317 $72,305,000 $228,091
    5-6% 150 $26,210,000 $174,733
    3-4% 19 $4,595,000 $241,842
    6-7% 15 $1,505,000 $100,333
    7-8% 3 $145,000 $48,333
    Over 8% 3 $205,000 $68,333

    During 2018, Uwharrie Bank's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 4-5%, with 317 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 212 $59,860,000 $282,358 $2,900 4.76%
    $100k-200k 189 $28,185,000 $149,127 $2,757 4.97%
    $100,000 or less 82 $5,930,000 $72,317 $2,317 5.46%
    $400k-600k 23 $10,215,000 $444,130 $2,879 4.72%
    $600k-1MM 1 $775,000 $775,000 $11,381 5.50%

    2018 saw Uwharrie Bank place emphasis on $200k-400k loans with 212 originations, totaling $59,860,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 110 $19,070,000 $173,364 $2,804 5.10%
    $100k-150k 98 $25,730,000 $262,551 $2,882 4.75%
    $50k or less 98 $11,500,000 $117,347 $2,817 4.98%
    $75k-100k 97 $19,685,000 $202,938 $2,709 5.03%
    $150k-250k 68 $19,590,000 $288,088 $2,442 4.81%
    $250k+ 16 $5,540,000 $346,250 $3,676 4.73%

    Uwharrie Bank lent most frequently to those with incomes in the $50k-75k range, with 110 originations. The second most popular income band? $100k-150k, with 98 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 102 $20,240,000 $198,431 $2,644 4.91%
    30-36% 92 $18,470,000 $200,761 $2,703 4.94%
    <20% 30 $5,490,000 $183,000 $2,344 5.00%
    40% 24 $4,460,000 $185,833 $2,333 5.21%
    36% 20 $3,820,000 $191,000 $3,041 5.07%
    39% 20 $3,910,000 $195,500 $2,757 4.97%
    43% 18 $3,350,000 $186,111 $3,178 4.80%
    45% 17 $3,725,000 $219,118 $2,680 4.71%
    47% 17 $4,005,000 $235,588 $2,854 4.67%
    37% 17 $3,655,000 $215,000 $2,901 4.78%
    41% 15 $4,035,000 $269,000 $3,040 4.94%
    38% 15 $2,475,000 $165,000 $2,084 5.31%
    49% 15 $3,945,000 $263,000 $2,819 4.82%
    42% 14 $4,000,000 $285,714 $4,167 5.07%
    44% 14 $3,050,000 $217,857 $2,457 4.79%
    48% 14 $3,970,000 $283,571 $2,614 4.88%
    46% 12 $3,060,000 $255,000 $2,889 4.84%
    50-60% 12 $2,260,000 $188,333 $4,322 4.63%
    >60% 2 $730,000 $365,000 $4,882 4.47%

    Uwharrie Bank lent most frequently to those with DTI ratios of 20-30%, with 102 originations. The next most common DTI ratio? 30-36%, with 92 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 427 $87,805,000 $205,632 $2,765 4.95%
    Not provided 32 $7,190,000 $224,688 $2,597 4.84%
    Black 23 $5,015,000 $218,043 $3,444 4.81%
    Not applicable 19 $3,645,000 $191,842 $0 5.20%
    Asian 4 $1,000,000 $250,000 $2,544 4.88%
    Chinese 1 $255,000 $255,000 $1,776 4.75%
    Asian Indian 1 $55,000 $55,000 $1,731 6.13%

    Approval Rates

    Total approvals of all applications
    95.32%

    Uwharrie Bank 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
    71.40%

    Uwharrie Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 507 $104,965,000 $207,032

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $355,000 $355,000
    Single Family (1-4 Units):Manufactured 14 $1,640,000 $117,143
    Single Family (1-4 Units):Site-Built 492 $102,970,000 $209,289

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $2,050,000 $146,429 $2,069 5.08%
    40-60% 54 $9,600,000 $177,778 $2,197 4.82%
    60-80% 168 $35,860,000 $213,452 $2,548 5.04%
    80-100% 262 $55,950,000 $213,550 $3,022 4.88%
    Over 100% 4 $1,070,000 $267,500 $6,725 4.88%
    Under 20% 5 $435,000 $87,000 $1,205 6.35%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Uwharrie Bank 107 South Main Street Norwood, NC 28128 Full Service B&M $43,080
    Uwharrie Bank 1490 South Main Street Mount Pleasant, NC 28124 Full Service B&M $20,156
    Uwharrie Bank 167 North Second Street Albemarle, NC 28001 Full Service B&M $139,445
    Uwharrie Bank 211 South Greene Street Wadesboro, NC 28170 Full Service B&M $49,993
    Uwharrie Bank 25 Palaside Drive, N.E. Concord, NC 28026 Full Service B&M $181,662
    Uwharrie Bank 416 West Main Street, Po Box 715 Locust, NC 28097 Full Service B&M $28,585
    Uwharrie Bank 5231 Piper Station Drive Charlotte, NC 28277 Full Service B&M $3,469
    Uwharrie Bank 624 North Main Street Oakboro, NC 28129 Full Service B&M $30,220
    Uwharrie Bank 710 North First Street Albemarle, NC 28001 Full Service B&M $16,766
    Uwharrie Bank 800 Highway 24-27 Bypass Albemarle, NC 28001 Full Service B&M $39,204

    For 2018, Uwharrie Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,152
    Net interest income $20,833
    Total noninterest income $7,831
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,050
    Trading account gains and fees $0
    Additional Noninterest Income $6,781
    Pre-tax net operating income $4,164
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,352
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,352
    Minority interest net income $0
    Net income $3,352
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,352

    Uwharrie Bank's gross interest income from loans was $22,152,000.
    Uwharrie Bank's net interest income from loans was $20,833,000.
    Uwharrie Bank's fee based income from loans was $1,050,000.
    Uwharrie Bank's net income from loans was $3,352,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,319
    Provision for credit losses $90
    Total noninterest expense $24,410
    Salaries and employee benefits $14,635
    Premises and equipment expense $2,315
    Additional noninterest expense $7,460
    Applicable income taxes $812
    Net charge-offs $174
    Cash dividends $1,715

    Uwharrie Bank's interest expense for loans was $1,319,000.
    Uwharrie Bank's payroll and benefits expense were $14,635,000.
    Uwharrie Bank's property, plant and equipment expenses $2,315,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $568,774
    Deposits held in domestic offices $568,774
    Deposits by Individuals, partnerships, and corporations $437,404
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $131,370
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $149,897
    Demand deposits $30,694
    Nontransaction accounts $418,877
    Money market deposit accounts (MMDAs) $205,506
    Other savings deposits (excluding MMDAs) $154,169
    Total time deposits $59,201
    Total time and savings deposits $538,080
    Noninterest-bearing deposits $30,694
    Interest-bearing deposits $538,080
    Retail deposits $559,844
    IRAs and Keogh plan accounts $19,158
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $630,082
    Cash & Balances due from depository institutions $117,934
    Interest-bearing balances $113,461
    Total securities $102,136
    Federal funds sold & reverse repurchase $0
    Net loans and leases $372,396
    Loan and leases loss allowance $2,374
    Trading account assets $0
    Bank premises and fixed assets $14,138
    Other real estate owned $1,047
    Goodwill and other intangibles $1,850
    All other assets $20,581

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $630,082
    Total Liabilities $576,385
    Total deposits $568,774
    Interest-bearing deposits $538,080
    Deposits held in domestic offices $568,774
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $7,611

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $372,396
    Loan and leases loss allowance $2,374
    Total loans and leases (domestic) $374,770
    All real estate loans $313,208
    Real estate loans in domestic offices $313,208
    Construction and development loans $38,947
    Residential 1-4 family construction $7,805
    Other construction, all land development and other land $31,142
    Loans secured by nonfarm nonresidential properties $128,322
    Nonfarm nonresidential secured by owner-occupied properties $61,744
    Commercial real estate & other non-farm, non-residential $66,578
    Multifamily residential real estate $2,312
    1-4 family residential loans $133,744
    Farmland loans $9,883
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $38,346
    To non-U.S. addressees $0
    Loans to individuals $12,159
    Credit card loans $2,247
    Related Plans $1,426
    Consumer Auto Loans $2,828
    Other loans to individuals $5,658
    All other loans & leases $11,057
    Loans to foreign governments and official institutions $0
    Other loans $2,110
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $3,391
    Non 1-4 family restructured loans & leases $1,070
    Total loans and leases (foreign) $0

    Uwharrie Bank had $372,396,000 of loans outstanding in 2018. $313,208,000 of loans were in real estate loans. $38,947,000 of loans were in development loans. $2,312,000 of loans were in multifamily mortgage loans. $133,744,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $2,247,000 of loans were in credit card loans. $2,828,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 256 $48,254 $188,492
    Nonfarm, nonresidential loans - <$100k 49 $2,430 $49,592
    Nonfarm, nonresidential loans - $100-250k 113 $14,251 $126,115
    Nonfarm, nonresidential loans - $250k-1MM 94 $31,573 $335,883
    Commercial & Industrial, US addressed loans - <$1MM 470 $29,957 $63,738
    Commercial & Industrial, US addressed loans - <$100k 330 $7,075 $21,439
    Commercial & Industrial, US addressed loans - $100-250k 76 $5,716 $75,211
    Commercial & Industrial, US addressed loans - $250k-1MM 64 $17,166 $268,219
    Farmland loans - <$1MM 33 $5,019 $152,091
    Farmland loans - <$100k 6 $312 $52,000
    Farmland loans - $100-250k 17 $1,954 $114,941
    Farmland loans - $250k-1MM 10 $2,753 $275,300