The Monticello Banking Company Mortgage Rates, Fees & Info

Monticello, KY

LEI: 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 loans. The Monticello Banking Company has a high proportion of conventional loans. Their top markets by origination volume include: Louisville, Bowling Green, Lexington, Richmond, and Somerset among others. We have data for 14 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.

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
30 Year Conventional Purchase 6.33% 6/9/24
30 Year Conventional Refi 6.27% 6/9/24
30 Year Cash-out Refi 6.31% 6/9/24
15 Year Conventional Purchase 7.33% 6/9/24
15 Year Conventional Refi 5.68% 6/9/24
15 Year Cash-out Refi 5.68% 6/9/24
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.

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

283

Origination Dollar Volume (All Markets)

$63,075,000

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
Outside of Metro Areas 138 $14,960,000 $108,406 $0 0.00%
LOUISVILLE, KY (FHA|USDA|VA) 17 $14,025,000 $825,000 $0 0.00%
BOWLING GREEN, KY (FHA|USDA|VA) 32 $10,090,000 $315,313 $0 0.00%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 21 $6,925,000 $329,762 $0 0.00%
Richmond-Berea, KY (FHA|USDA|VA) 8 $4,530,000 $566,250 $0 0.00%
Somerset, KY (FHA|USDA|VA) 29 $4,135,000 $142,586 $0 0.00%
London, KY (FHA|USDA|VA) 11 $3,045,000 $276,818 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $1,360,000 $680,000 $0 0.00%
Glasgow, KY (FHA|USDA|VA) 11 $1,305,000 $118,636 $0 0.00%
Danville, KY (FHA|USDA|VA) 8 $1,130,000 $141,250 $0 0.00%
Frankfort, KY (FHA|USDA|VA) 3 $875,000 $291,667 $0 0.00%
JACKSON, TN (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
Bardstown, KY (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
The Monticello Banking Company's top markets include Louisville, Bowling Green, Lexington, Richmond, and Somerset among others.

Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • 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.

    SERVICE ONE
    Similarity Rank: 54
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    Similarity Rank: 105
    Independence Bank of Kentucky
    Similarity Rank: 128
    L & N Federal Credit Union
    Similarity Rank: 138
    First Federal Savings Bank
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    Edmonton State Bank
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 283 $63,075,000 $222,880 $0 0.00%

    For 2023, The Monticello Banking Company's most frequently originated type of loan was Conventional, with 283 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 151 $43,835,000 $290,298 $0 0.00%
    Cash Out Refi 64 $9,550,000 $149,219 $0 0.00%
    Refi 49 $8,625,000 $176,020 $0 0.00%
    Home Improvement 15 $885,000 $59,000 $0 0.00%
    Other 4 $180,000 $45,000 $0 0.00%

    For 2023, The Monticello Banking Company's most frequently cited loan purpose was Home Purchase, with 151 originations. The 2nd most popular reason was Cash Out Refi, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 283 $63,075,000 $222,880 $0 0.00%

    For 2023, The Monticello Banking Company's most frequently cited loan duration was Other, with 283 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 128 $6,730,000 $52,578 $0 0.00%
    $100k-200k 75 $10,935,000 $145,800 $0 0.00%
    $200k-400k 57 $16,065,000 $281,842 $0 0.00%
    $400k-600k 12 $5,620,000 $468,333 $0 0.00%
    $1MM+ 6 $19,450,000 $3,241,667 $0 0.00%
    $600k-1MM 5 $4,275,000 $855,000 $0 0.00%

    2023 saw The Monticello Banking Company place emphasis on $100,000 or less loans with 128 originations, totaling $6,730,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 62 $3,560,000 $57,419 $0 0.00%
    $50k-75k 40 $3,860,000 $96,500 $0 0.00%
    $100k-150k 29 $6,135,000 $211,552 $0 0.00%
    $75k-100k 25 $2,325,000 $93,000 $0 0.00%
    $150k-250k 19 $4,575,000 $240,789 $0 0.00%
    $250k+ 15 $6,275,000 $418,333 $0 0.00%

    The Monticello Banking Company lent most frequently to those with incomes in the $50k or less range, with 62 originations. The second most popular income band? $50k-75k, with 40 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 283 $63,075,000 $222,880 $0 0.00%

    The Monticello Banking Company lent most frequently to those with DTI ratios of Exempt%, with 283 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 83 $35,095,000 $422,831 $0 0.00%
    White 197 $27,555,000 $139,873 $0 0.00%
    Black 2 $390,000 $195,000 $0 0.00%
    Native Hawaiian or Islander 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.07%

    The Monticello Banking Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.15%

    The Monticello Banking Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 283 $63,075,000 $222,880

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    283 $63,075,000 $222,880