The Monticello Banking Company Mortgage Rates, Fees & Info
Monticello, KYLEI: 54930020VWE4K0ME5605
Tax ID: 61-0284670
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Mortgage Data
Review & Overview
The Monticello Banking Company is a smaller bank specializing in Home Purchase and Refi loans. The Monticello Banking Company has a high proportion of conventional loans. Their top markets by origination volume include: Lexington, Bowling Green, Richmond, Louisville, and Somerset among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)The Monticello Banking Company has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. The Monticello Banking Company 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.33% | 9/25/23 |
| 30 Year Conventional Refi | 6.27% | 9/25/23 |
| 30 Year Cash-out Refi | 6.31% | 9/25/23 |
| 15 Year Conventional Purchase | 7.33% | 9/25/23 |
| 15 Year Conventional Refi | 5.68% | 9/25/23 |
| 15 Year Cash-out Refi | 5.68% | 9/25/23 |
| 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. | ||
The Monticello Banking Company Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from The Monticello Banking Company. 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
421Origination Dollar Volume (All Markets)
$124,475,000Awards
The Monticello Banking Company - 2022
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For 2022, less than of lenders were eligible for this award.
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Relative Rate
The Monticello Banking Company's average 30 year fixed mortgage rate was
4.82%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.06%.
Relative Fees (Closing Costs)
The Monticello Banking Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,166.
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 $4,750.
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 |
|---|---|---|---|---|---|
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 70 | $29,790,000 | $425,571 | $2,310 | 4.79% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 40 | $21,570,000 | $539,250 | $2,395 | 4.75% |
| Richmond-Berea, KY (FHA|USDA|VA) | 23 | $19,095,000 | $830,217 | $2,820 | 4.60% |
| Outside of Metro Areas | 155 | $17,965,000 | $115,903 | $1,654 | 5.21% |
| LOUISVILLE, KY (FHA|USDA|VA) | 50 | $17,890,000 | $357,800 | $1,989 | 4.33% |
| Somerset, KY (FHA|USDA|VA) | 47 | $7,835,000 | $166,702 | $1,974 | 5.04% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 2 | $2,580,000 | $1,290,000 | $0 | 3.88% |
| London, KY (FHA|USDA|VA) | 8 | $1,780,000 | $222,500 | $2,594 | 5.10% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $1,145,000 | $1,145,000 | $0 | 5.00% |
| Glasgow, KY (FHA|USDA|VA) | 10 | $1,010,000 | $101,000 | $1,301 | 4.58% |
| Danville, KY (FHA|USDA|VA) | 5 | $945,000 | $189,000 | $2,372 | 4.52% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $3,610 | 4.75% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $0 | 3.99% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $0 | 4.25% |
| Middlesborough, KY (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $1,937 | 3.38% |
| OWENSBORO, KY (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 4.25% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $1,783 | 4.00% |
| Brevard, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 5.00% |
| Campbellsville, KY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,669 | 4.69% |
Similar Lenders
We use machine learning to identify the top lenders compared against The Monticello Banking Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 421 | $124,475,000 | $295,665 | $1,817 | 4.88% |
For 2022, The Monticello Banking Company's most frequently originated type of loan was Conventional, with 421 originations.
Loan Reason
For 2022, The Monticello Banking Company's most frequently cited loan purpose was Home Purchase, with 224 originations. The 2nd most popular reason was Cash Out Refi, with 97 originations.
Loan Duration/Length
For 2022, The Monticello Banking Company's most frequently cited loan duration was Other, with 222 originations. The 2nd most popular length was 30 Year, with 87 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 196 | $27,470,000 | $140,153 |
| $4k-5k | 1 | $245,000 | $245,000 |
The Monticello Banking Company's average total fees were $2,166, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 196 originations.
Interest Rates
During 2022, The Monticello Banking Company's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 4-5%, with 188 originations.
Loan Sizing
2022 saw The Monticello Banking Company place emphasis on $100k-200k loans with 131 originations, totaling $18,875,000 in origination value.
Applicant Income
The Monticello Banking Company lent most frequently to those with incomes in the $50k or less range, with 61 originations. The second most popular income band? $50k-75k, with 55 originations.
Applicant Debt to Income Ratio
The Monticello Banking Company lent most frequently to those with DTI ratios of 20-30%, with 77 originations. The next most common DTI ratio? 30-36%, with 51 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.54%
The Monticello Banking Company has an average approval rate.
Pick Rate
Approvals leading to origination86.22%
The Monticello Banking Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 421 | $124,475,000 | $295,665 |