Bank Of Clarke County Mortgage Rates, Fees & Info
Berryville, VALEI: 5493002Z2Z7DV758IU60
Tax ID: 54-0132450
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Bank Of Clarke County is a smaller bank specializing in Home Purchase loans. Bank Of Clarke County has a high proportion of conventional loans. Bank Of Clarke County has a low ratio of conventional loans.They have a low ratio of USDA loans. Their top markets by origination volume include: Washington, Winchester, Myrtle Beach, Hagerstown, and Baltimore among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Of Clarke County 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. Bank Of Clarke County 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 | 6.48% | 6/22/25 |
| 30 Year Cash-out Refi | 6.72% | 6/22/25 |
| 30 Year VA Refi | 6.19% | 6/22/25 |
| 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. | ||
Bank Of Clarke County Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
241Origination Dollar Volume (All Markets)
$108,785,000Relative Rate
Bank Of Clarke County's average 30 year fixed mortgage rate was
6.52%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.03%.
Relative Fees (Closing Costs)
Bank Of Clarke County's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,611.
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 $8,356.
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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 142 | $76,450,000 | $538,380 | $6,365 | 6.58% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 61 | $16,605,000 | $272,213 | $4,329 | 6.44% |
| Outside of Metro Areas | 5 | $3,465,000 | $693,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $1,825,000 | $1,825,000 | $0 | 0.00% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 7 | $1,615,000 | $230,714 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 4 | $1,360,000 | $340,000 | $0 | 0.00% |
| RICHMOND, VA (FHA|USDA|VA) | 3 | $1,215,000 | $405,000 | $0 | 0.00% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 2 | $1,080,000 | $540,000 | $0 | 0.00% |
| HARRISONBURG, VA (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $0 | 0.00% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $5,916 | 6.49% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| MORGANTOWN, WV (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Bank of Clarke County 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
For 2024, Bank Of Clarke County's most frequently originated type of loan was Conventional, with 229 originations. Their 2nd most popular type was Conventional, with 5 originations.
Loan Reason
For 2024, Bank Of Clarke County's most frequently cited loan purpose was Home Purchase, with 183 originations. The 2nd most popular reason was Cash Out Refi, with 21 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 235 | $105,735,000 | $449,936 | $0 | 0.00% |
| 30 Year | 6 | $3,050,000 | $508,333 | $5,611 | 6.52% |
For 2024, Bank Of Clarke County's most frequently cited loan duration was Other, with 235 originations. The 2nd most popular length was 30 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 4 | $1,700,000 | $425,000 |
| $3k-4k | 1 | $805,000 | $805,000 |
| $4k-5k | 1 | $545,000 | $545,000 |
Bank Of Clarke County's average total fees were $5,611, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 2 | $1,100,000 | $550,000 |
| 6-7% | 2 | $1,200,000 | $600,000 |
| 7-8% | 2 | $750,000 | $375,000 |
During 2024, Bank Of Clarke County's average interest rate for loans was 6.52%, while their most frequently originated rate bucket for loans was 5-6%, with 2 originations.
Loan Sizing
2024 saw Bank Of Clarke County place emphasis on $200k-400k loans with 66 originations, totaling $19,560,000 in origination value.
Applicant Income
Bank Of Clarke County lent most frequently to those with incomes in the $150k-250k range, with 49 originations. The second most popular income band? $75k-100k, with 46 originations.
Applicant Debt to Income Ratio
Bank Of Clarke County lent most frequently to those with DTI ratios of Exempt%, with 235 originations. The next most common DTI ratio? 30-36%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.20%
Bank Of Clarke County has a below average approval rate.
Pick Rate
Approvals leading to origination76.35%
Bank Of Clarke County has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 235 | $105,735,000 | $449,936 |
| NA | 6 | $3,050,000 | $508,333 |