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, 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% 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

    582

    Origination Dollar Volume (All Markets)

    $124,800,000

    Employee count

    171 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
    Similarity Rank: 190
    CAROLINA TRUST FEDERAL CREDIT UNION
    Similarity Rank: 265
    CORNING
    Similarity Rank: 606
    Belmont Savings Bank, SSB
    Similarity Rank: 897
    Arrowpointe Federal Credit Union
    Similarity Rank: 1316
    MORTGAGE FINANCIAL GROUP, INC.
    Similarity Rank: 1680
    Coastal Carolina National Bank
    Similarity Rank: 1888
    PIKE CREEK MORTGAGE SERVICES, INC.
    Similarity Rank: 1938
    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