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: Lexington, Richmond, Somerset, London, and Bowling Green among others. We have data for 12 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.

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Originations

199

Origination Dollar Volume (All Markets)

$38,265,000

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 81 $8,805,000 $108,704 $0 0.00%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 11 $5,975,000 $543,182 $0 0.00%
Richmond-Berea, KY (FHA|USDA|VA) 10 $5,820,000 $582,000 $0 0.00%
Somerset, KY (FHA|USDA|VA) 27 $4,145,000 $153,519 $0 0.00%
London, KY (FHA|USDA|VA) 20 $3,970,000 $198,500 $0 0.00%
BOWLING GREEN, KY (FHA|USDA|VA) 18 $3,750,000 $208,333 $0 0.00%
LOUISVILLE, KY (FHA|USDA|VA) 12 $3,360,000 $280,000 $0 0.00%
Danville, KY (FHA|USDA|VA) 15 $1,885,000 $125,667 $0 0.00%
Glasgow, KY (FHA|USDA|VA) 2 $290,000 $145,000 $0 0.00%
Campbellsville, KY (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
JACKSON, TN (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Middlesborough, KY (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
The Monticello Banking Company's top markets include Lexington, Richmond, Somerset, London, and Bowling Green 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.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 199 $38,265,000 $192,286 $0 0.00%

    For 2024, The Monticello Banking Company's most frequently originated type of loan was Conventional, with 199 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 132 $29,950,000 $226,894 $0 0.00%
    Refi 26 $4,610,000 $177,308 $0 0.00%
    Cash Out Refi 21 $2,375,000 $113,095 $0 0.00%
    Home Improvement 15 $1,075,000 $71,667 $0 0.00%
    Other 5 $255,000 $51,000 $0 0.00%

    For 2024, The Monticello Banking Company's most frequently cited loan purpose was Home Purchase, with 132 originations. The 2nd most popular reason was Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 199 $38,265,000 $192,286 $0 0.00%

    For 2024, The Monticello Banking Company's most frequently cited loan duration was Other, with 199 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 91 $5,155,000 $56,648 $0 0.00%
    $100k-200k 50 $7,070,000 $141,400 $0 0.00%
    $200k-400k 37 $10,595,000 $286,351 $0 0.00%
    $400k-600k 11 $5,345,000 $485,909 $0 0.00%
    $600k-1MM 7 $5,175,000 $739,286 $0 0.00%
    $1MM+ 3 $4,925,000 $1,641,667 $0 0.00%

    2024 saw The Monticello Banking Company place emphasis on $100,000 or less loans with 91 originations, totaling $5,155,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 34 $1,950,000 $57,353 $0 0.00%
    $250k+ 23 $7,235,000 $314,565 $0 0.00%
    $100k-150k 22 $3,810,000 $173,182 $0 0.00%
    $150k-250k 22 $3,920,000 $178,182 $0 0.00%
    $50k-75k 22 $2,170,000 $98,636 $0 0.00%
    $75k-100k 19 $2,165,000 $113,947 $0 0.00%

    The Monticello Banking Company lent most frequently to those with incomes in the $50k or less range, with 34 originations. The second most popular income band? $250k+, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 199 $38,265,000 $192,286 $0 0.00%

    The Monticello Banking Company lent most frequently to those with DTI ratios of Exempt%, with 199 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 139 $19,975,000 $143,705 $0 0.00%
    Not applicable 53 $16,305,000 $307,642 $0 0.00%
    Asian 4 $1,720,000 $430,000 $0 0.00%
    Black 3 $265,000 $88,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    82.15%

    The Monticello Banking Company has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    77.39%

    The Monticello Banking Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 199 $38,265,000 $192,286

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    199 $38,265,000 $192,286