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

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, Hickory, Myrtle Beach, and Winston among others. We have data for 24 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%	4/21/24
30 Year Conventional Purchase	6.67%	4/21/24
30 Year Conventional Refi	6.74%	4/21/24
30 Year Cash-out Refi	6.72%	4/21/24
30 Year FHA Purchase	7.34%	4/21/24
30 Year VA Purchase	6.21%	4/21/24
30 Year USDA Purchase	6.82%	4/21/24
15 Year Conventional Purchase	6.95%	4/21/24
15 Year Conventional Refi	6.54%	4/21/24
15 Year Cash-out Refi	6.54%	4/21/24
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

Purchase Price:

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% Deposit:

Interest Rate:

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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

582

Origination Dollar Volume (All Markets)

$124,800,000

Employee count

171

Awards

Uwharrie Bank 30 Year Conventional Loans gold

Uwharrie Bank 30 Year Conventional Loans silver

Show all (8) 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)	309	$73,405,000	$237,557	$2,962	4.33%
Albemarle, NC (FHA\|USDA\|VA)	149	$25,805,000	$173,188	$2,463	4.60%
HICKORY-LENOIR-MORGANTON, NC (FHA\|USDA\|VA)	47	$8,575,000	$182,447	$3,050	4.20%
Outside of Metro Areas	23	$4,925,000	$214,130	$2,872	4.47%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA\|USDA\|VA)	20	$4,360,000	$218,000	$2,386	4.88%
WINSTON-SALEM, NC (FHA\|USDA\|VA)	3	$1,105,000	$368,333	$5,185	4.17%
Shelby, NC (FHA\|USDA\|VA)	5	$925,000	$185,000	$3,225	4.20%
RALEIGH-CARY, NC (FHA\|USDA\|VA)	3	$815,000	$271,667	$2,599	4.16%
CHARLESTON-NORTH CHARLESTON, SC (FHA\|USDA\|VA)	3	$755,000	$251,667	$2,810	4.33%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	2	$750,000	$375,000	$3,160	3.63%
GREENVILLE-ANDERSON, SC (FHA\|USDA\|VA)	2	$430,000	$215,000	$2,604	4.13%
Marion, NC (FHA\|USDA\|VA)	2	$350,000	$175,000	$4,929	4.38%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA\|USDA\|VA)	1	$335,000	$335,000	$2,571	4.63%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA\|USDA\|VA)	1	$315,000	$315,000	$3,583	4.38%
ASHEVILLE, NC (FHA\|USDA\|VA)	3	$295,000	$98,333	$2,031	5.13%
ROME, GA (FHA\|USDA\|VA)	1	$295,000	$295,000	$2,485	3.63%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	1	$265,000	$265,000	$3,473	4.38%
North Wilkesboro, NC (FHA\|USDA\|VA)	1	$235,000	$235,000	$5,922	4.25%
GREENSBORO-HIGH POINT, NC (FHA\|USDA\|VA)	1	$175,000	$175,000	$5,100	4.00%
Pinehurst-Southern Pines, NC (FHA\|USDA\|VA)	1	$155,000	$155,000	$2,111	4.88%
Forest City, NC (FHA\|USDA\|VA)	1	$145,000	$145,000	$4,523	4.63%
Washington, NC (FHA\|USDA\|VA)	1	$135,000	$135,000	$3,672	3.88%
GREENVILLE, NC (FHA\|USDA\|VA)	1	$125,000	$125,000	$1,956	4.75%
Union, SC (FHA\|USDA\|VA)	1	$125,000	$125,000	$4,922	4.50%

Uwharrie Bank's top markets include Charlotte, Albemarle, Hickory, Myrtle Beach, and Winston among others.

Their top states include:

North Carolina (FHA|USDA|VA)

South Carolina (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Georgia (FHA|USDA|VA)

Virginia (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.

Piedmont Federal Savings Bank
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CAROLINA TRUST FEDERAL CREDIT UNION
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MORTGAGE FINANCIAL GROUP, INC.
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Coastal Carolina National Bank
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PIKE CREEK MORTGAGE SERVICES, INC.
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Southern Bank and Trust Company
Similarity Rank: 2211

Whitley Mortgage Associates, Inc.
Similarity Rank: 2401

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	498	$108,350,000	$217,570	$2,460	4.44%
FHA	50	$9,390,000	$187,800	$5,701	4.39%
VA	21	$5,315,000	$253,095	$4,330	3.85%
USDA	13	$1,745,000	$134,231	$3,560	4.35%

For 2019, Uwharrie Bank's most frequently originated type of loan was Conventional, with 498 originations. Their 2nd most popular type was FHA, with 50 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	402	$83,700,000	$208,209	$3,027	4.47%
Refi	96	$24,370,000	$253,854	$2,310	4.01%
Cash Out Refi	70	$15,130,000	$216,143	$2,717	4.49%
Other	12	$1,530,000	$127,500	$2,241	5.09%
Home Improvement	2	$70,000	$35,000	$0	6.00%

For 2019, Uwharrie Bank's most frequently cited loan purpose was Home Purchase, with 402 originations. The 2nd most popular reason was Refi, with 96 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	473	$104,175,000	$220,243	$2,956	4.37%
15 Year	60	$11,430,000	$190,500	$2,240	4.26%
20 Year	37	$6,595,000	$178,243	$2,176	4.84%
1 Year	5	$1,665,000	$333,000	$7,684	5.40%
10 Year	3	$135,000	$45,000	$1,455	5.76%
Other	3	$775,000	$258,333	$977	5.62%
5 Year	1	$25,000	$25,000	$1,692	5.47%

For 2019, Uwharrie Bank's most frequently cited loan duration was 30 Year, with 473 originations. The 2nd most popular length was 15 Year, with 60 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	447	$93,705,000	$209,631
$1k-2k	74	$16,570,000	$223,919
$2k-3k	20	$5,090,000	$254,500
$5k+	6	$2,270,000	$378,333
$3k-4k	3	$925,000	$308,333
$4k-5k	3	$1,175,000	$391,667

Uwharrie Bank's average total fees were $2,956, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 447 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	281	$57,435,000	$204,395
3-4%	204	$55,020,000	$269,706
5-6%	89	$11,525,000	$129,494
6-7%	6	$610,000	$101,667
2.5-3%	1	$175,000	$175,000
7-8%	1	$35,000	$35,000

During 2019, Uwharrie Bank's average interest rate for loans was 4.37%, while their most frequently originated rate bucket for loans was 4-5%, with 281 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	238	$65,370,000	$274,664	$3,129	4.15%
$100k-200k	217	$32,445,000	$149,516	$2,710	4.49%
$100,000 or less	80	$5,350,000	$66,875	$2,085	5.14%
$400k-600k	45	$20,345,000	$452,111	$2,977	4.16%
$600k-1MM	2	$1,290,000	$645,000	$11,186	4.92%

2019 saw Uwharrie Bank place emphasis on $200k-400k loans with 238 originations, totaling $65,370,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	135	$24,345,000	$180,333	$3,026	4.34%
$100k-150k	123	$32,555,000	$264,675	$2,947	4.20%
$50k or less	116	$14,500,000	$125,000	$2,641	4.62%
$75k-100k	87	$18,975,000	$218,103	$2,829	4.50%
$150k-250k	65	$17,595,000	$270,692	$2,784	4.40%
$250k+	28	$9,890,000	$353,214	$3,011	4.35%

Uwharrie Bank lent most frequently to those with incomes in the $50k-75k range, with 135 originations. The second most popular income band? $100k-150k, with 123 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	130	$28,850,000	$221,923	$2,745	4.31%
30-36%	98	$20,070,000	$204,796	$2,767	4.42%
<20%	40	$8,360,000	$209,000	$2,605	4.17%
40%	27	$5,245,000	$194,259	$2,917	4.51%
42%	26	$6,180,000	$237,692	$2,633	4.38%
43%	26	$6,260,000	$240,769	$2,738	4.29%
39%	25	$6,385,000	$255,400	$3,168	4.36%
36%	23	$5,475,000	$238,043	$3,236	4.39%
49%	22	$4,890,000	$222,273	$2,596	4.50%
38%	21	$4,365,000	$207,857	$2,738	4.24%
44%	21	$4,045,000	$192,619	$2,988	4.46%
41%	16	$2,740,000	$171,250	$2,745	4.54%
48%	14	$2,630,000	$187,857	$2,406	4.34%
37%	13	$2,565,000	$197,308	$2,425	4.13%
46%	13	$3,025,000	$232,692	$2,590	4.42%
50-60%	12	$2,480,000	$206,667	$5,159	4.25%
47%	11	$2,595,000	$235,909	$3,403	4.50%
45%	9	$1,545,000	$171,667	$2,179	4.49%
>60%	1	$505,000	$505,000	$7,684	4.91%

Uwharrie Bank lent most frequently to those with DTI ratios of 20-30%, with 130 originations. The next most common DTI ratio? 30-36%, with 98 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	513	$110,595,000	$215,585	$2,805	4.40%
Not provided	23	$5,345,000	$232,391	$3,140	4.31%
Black	15	$2,985,000	$199,000	$4,407	4.38%
Not applicable	12	$2,500,000	$208,333	$0	5.38%
Asian	15	$2,255,000	$150,333	$2,436	4.44%
American Indian	4	$1,120,000	$280,000	$2,418	4.09%

Approval Rates

Total approvals of all applications
92.30%

Uwharrie Bank has an average approval rate.

Pick Rate

Approvals leading to origination
74.74%

Uwharrie Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	582	$124,800,000	$214,433

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Manufactured	15	$1,075,000	$71,667
Single Family (1-4 Units):Site-Built	567	$123,725,000	$218,210

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	22	$3,040,000	$138,182	$2,039	4.56%
40-60%	59	$12,215,000	$207,034	$2,386	4.23%
60-80%	206	$47,630,000	$231,214	$2,514	4.47%
80-100%	284	$60,160,000	$211,831	$3,188	4.37%
Over 100%	5	$1,165,000	$233,000	$6,817	4.76%
Under 20%	3	$255,000	$85,000	$1,922	4.92%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Uwharrie Bank	107 South Main Street Norwood, NC 28128	Full Service B&M	$43,068
Uwharrie Bank	1490 South Main Street Mount Pleasant, NC 28124	Full Service B&M	$19,081
Uwharrie Bank	167 North Second Street Albemarle, NC 28001	Full Service B&M	$189,373
Uwharrie Bank	211 South Greene Street Wadesboro, NC 28170	Full Service B&M	$51,470
Uwharrie Bank	25 Palaside Drive, N.E. Concord, NC 28026	Full Service B&M	$114,734
Uwharrie Bank	416 West Main Street, Po Box 715 Locust, NC 28097	Full Service B&M	$34,110
Uwharrie Bank	5231 Piper Station Drive Charlotte, NC 28277	Full Service B&M	$12,890
Uwharrie Bank	624 N Main Street Oakboro, NC 28129	Full Service B&M	$28,886
Uwharrie Bank	710 North First Street Albemarle, NC 28001	Full Service B&M	$18,476
Uwharrie Bank	800 Highway 24-27 Bypass Albemarle, NC 28001	Full Service B&M	$46,378

For 2019, Uwharrie Bank had 10 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$24,006
Net interest income	$21,012
Total noninterest income	$8,283
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,215
Trading account gains and fees	$0
Additional Noninterest Income	$7,068
Pre-tax net operating income	$5,080
Securities gains (or losses, -)	$-35
Income before extraordinary items	$4,025
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,025
Minority interest net income	$0
Net income	$4,025
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$4,053

Uwharrie Bank's gross interest income from loans was $24,006,000.
Uwharrie Bank's net interest income from loans was $21,012,000.
Uwharrie Bank's fee based income from loans was $1,215,000.
Uwharrie Bank's net income from loans was $4,025,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,994
Provision for credit losses	$-588
Total noninterest expense	$24,803
Salaries and employee benefits	$15,357
Premises and equipment expense	$2,374
Additional noninterest expense	$7,072
Applicable income taxes	$1,020
Net charge-offs	$-281
Cash dividends	$3,315

Uwharrie Bank's interest expense for loans was $2,994,000.
Uwharrie Bank's payroll and benefits expense were $15,357,000.
Uwharrie Bank's property, plant and equipment expenses $2,374,000.

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	1.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	1.0%
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	$588,313
Deposits held in domestic offices	$588,313
Deposits by Individuals, partnerships, and corporations	$486,782
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$101,531
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	$172,287
Demand deposits	$35,025
Nontransaction accounts	$416,026
Money market deposit accounts (MMDAs)	$127,118
Other savings deposits (excluding MMDAs)	$172,959
Total time deposits	$115,948
Total time and savings deposits	$553,288
Noninterest-bearing deposits	$35,025
Interest-bearing deposits	$553,288
Retail deposits	$532,088
IRAs and Keogh plan accounts	$20,474
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$654,585
Cash & Balances due from depository institutions	$155,198
Interest-bearing balances	$147,678
Total securities	$101,952
Federal funds sold & reverse repurchase	$0
Net loans and leases	$358,915
Loan and leases loss allowance	$1,981
Trading account assets	$0
Bank premises and fixed assets	$16,527
Other real estate owned	$494
Goodwill and other intangibles	$1,723
All other assets	$19,776

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$654,585
Total Liabilities	$598,161
Total deposits	$588,313
Interest-bearing deposits	$553,288
Deposits held in domestic offices	$588,313
% insured (estimated)	$72
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$9,848

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$358,915
Loan and leases loss allowance	$1,981
Total loans and leases (domestic)	$360,896
All real estate loans	$296,107
Real estate loans in domestic offices	$296,107
Construction and development loans	$30,643
Residential 1-4 family construction	$7,600
Other construction, all land development and other land	$23,043
Loans secured by nonfarm nonresidential properties	$129,128
Nonfarm nonresidential secured by owner-occupied properties	$66,505
Commercial real estate & other non-farm, non-residential	$62,623
Multifamily residential real estate	$1,870
1-4 family residential loans	$125,284
Farmland loans	$9,182
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$41,754
To non-U.S. addressees	$0
Loans to individuals	$12,957
Credit card loans	$2,295
Related Plans	$1,435
Consumer Auto Loans	$3,270
Other loans to individuals	$5,957
All other loans & leases	$10,078
Loans to foreign governments and official institutions	$0
Other loans	$1,939
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	$3,722
Non 1-4 family restructured loans & leases	$1,595
Total loans and leases (foreign)	$0

Uwharrie Bank had $358,915,000 of loans outstanding in 2019. $296,107,000 of loans were in real estate loans. $30,643,000 of loans were in development loans. $1,870,000 of loans were in multifamily mortgage loans. $125,284,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $2,295,000 of loans were in credit card loans. $3,270,000 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	267	$50,382	$188,697
Nonfarm, nonresidential loans - <$100k	56	$2,849	$50,875
Nonfarm, nonresidential loans - $100-250k	119	$15,274	$128,353
Nonfarm, nonresidential loans - $250k-1MM	92	$32,259	$350,641
Commercial & Industrial, US addressed loans - <$1MM	500	$30,514	$61,028
Commercial & Industrial, US addressed loans - <$100k	364	$7,280	$20,000
Commercial & Industrial, US addressed loans - $100-250k	70	$4,915	$70,214
Commercial & Industrial, US addressed loans - $250k-1MM	66	$18,319	$277,561
Farmland loans - <$1MM	33	$4,762	$144,303
Farmland loans - <$100k	8	$386	$48,250
Farmland loans - $100-250k	19	$2,308	$121,474
Farmland loans - $250k-1MM	6	$2,068	$344,667