Bank Of Clarke County Mortgage Rates, Fees & Info
Berryville, VALEI: 5493002Z2Z7DV758IU60
Tax ID: 54-0132450
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Mortgage Data
Review & Overview
Bank Of Clarke County is a smaller bank specializing in Home Purchase and Refi loans. Bank Of Clarke County has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Winchester, Hagerstown, Baltimore, and Point Pleasant among others. We have data for 8 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 an average 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 | 6.38% | 5/27/23 |
| 30 Year Conventional Refi | 6.52% | 5/27/23 |
| 30 Year Cash-out Refi | 6.60% | 5/27/23 |
| 15 Year Conventional Purchase | 6.37% | 5/27/23 |
| 15 Year Conventional Refi | 6.27% | 5/27/23 |
| 15 Year Cash-out Refi | 6.27% | 5/27/23 |
| 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. | ||
Bank Of Clarke County Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
213Origination Dollar Volume (All Markets)
$77,935,000Relative Rate
Bank Of Clarke County's average 30 year fixed mortgage rate was
4.99%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.23%.
Relative Fees (Closing Costs)
Bank Of Clarke County's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,939.
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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 89 | $39,605,000 | $445,000 | $5,107 | 4.83% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 90 | $23,750,000 | $263,889 | $4,273 | 4.81% |
| Outside of Metro Areas | 16 | $6,820,000 | $426,250 | $8,182 | 4.91% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 12 | $5,570,000 | $464,167 | $3,782 | 5.33% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 3 | $1,215,000 | $405,000 | $0 | 5.11% |
| Point Pleasant, WV-OH (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 5.25% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 5.75% |
| Clarksburg, WV (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $2,892 | 6.13% |
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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 213 | $77,935,000 | $365,892 | $4,936 | 4.87% |
For 2022, Bank Of Clarke County's most frequently originated type of loan was Conventional, with 213 originations.
Loan Reason
For 2022, Bank Of Clarke County's most frequently cited loan purpose was Home Purchase, with 107 originations. The 2nd most popular reason was Cash Out Refi, with 45 originations.
Loan Duration/Length
For 2022, Bank Of Clarke County's most frequently cited loan duration was 30 Year, with 110 originations. The 2nd most popular length was 5 Year, with 41 originations.
Origination Fees/Closing Costs
Bank Of Clarke County's average total fees were $5,939, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 95 originations.
Interest Rates
During 2022, Bank Of Clarke County's average interest rate for loans was 4.99%, while their most frequently originated rate bucket for loans was 4-5%, with 77 originations.
Loan Sizing
2022 saw Bank Of Clarke County place emphasis on $200k-400k loans with 63 originations, totaling $17,335,000 in origination value.
Applicant Income
Bank Of Clarke County lent most frequently to those with incomes in the $150k-250k range, with 41 originations. The second most popular income band? $100k-150k, with 33 originations.
Applicant Debt to Income Ratio
Bank Of Clarke County lent most frequently to those with DTI ratios of 30-36%, with 38 originations. The next most common DTI ratio? 20-30%, with 33 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.97%
Bank Of Clarke County has a below average approval rate.
Pick Rate
Approvals leading to origination73.71%
Bank Of Clarke County has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 213 | $77,935,000 | $365,892 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF NEW YORK MELLON CORPORATION, THE | Reverse mortgage | Struggling to pay mortgage | 1 | 100.0% |