Bank Of Clarke County Mortgage Rates, Fees & Info

Berryville, VA

LEI: 5493002Z2Z7DV758IU60

Tax ID: 54-0132450

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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: Winchester, Washington, and Hagerstown among others. We have data for 4 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 an 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.

    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 6.38% 4/18/24
    30 Year Conventional Refi 6.52% 4/18/24
    30 Year Cash-out Refi 6.60% 4/18/24
    15 Year Conventional Purchase 6.37% 4/18/24
    15 Year Conventional Refi 6.27% 4/18/24
    15 Year Cash-out Refi 6.27% 4/18/24
    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.

    Bank Of Clarke County Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Bank Of Clarke County. 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

    210

    Origination Dollar Volume (All Markets)

    $44,030,000

    Employee count

    175

    Awards

    Bank of Clarke County 30 Year Conventional Loans gold Bank of Clarke County 30 Year Conventional Loans gold Bank of Clarke County 30 Year Conventional Loans gold Bank of Clarke County 30 Year Conventional Loans gold
    Show all (4) awards

    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
    WINCHESTER, VA-WV (FHA|USDA|VA) 128 $25,090,000 $196,016 $1,047 4.89%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 73 $15,465,000 $211,849 $885 4.95%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 3 $2,245,000 $748,333 $0 5.51%
    Outside of Metro Areas 6 $1,230,000 $205,000 $1,038 4.94%
    Bank Of Clarke County's top markets include Winchester, Washington, and Hagerstown among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)

    • 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.

    Bank of Clarke County
    Similarity Rank: 340
    Shea Mortgage Inc.
    Similarity Rank: 360
    LIBRARY OF CONGRESS
    Similarity Rank: 448
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 450
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    EDUCATIONAL SYSTEMS
    Similarity Rank: 693
    Summit Community Bank, Inc.
    Similarity Rank: 990
    JOHNSON MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 1220
    IDB Global Federal Credit Union
    Similarity Rank: 1240
    City National Bank of West Virginia
    Similarity Rank: 1482

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 210 $44,030,000 $209,667 $986 4.92%

    For 2018, Bank Of Clarke County's most frequently originated type of loan was Conventional, with 210 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 84 $25,180,000 $299,762 $1,854 4.88%
    Refi 81 $15,705,000 $193,889 $761 4.89%
    Home Improvement 29 $2,015,000 $69,483 $380 5.07%
    Other 16 $1,130,000 $70,625 $433 5.02%

    For 2018, Bank Of Clarke County's most frequently cited loan purpose was Home Purchase, with 84 originations. The 2nd most popular reason was Refi, with 81 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 58 $8,770,000 $151,207 $498 5.16%
    10 Year 52 $8,250,000 $158,654 $577 5.03%
    5 Year 42 $11,640,000 $277,143 $951 4.88%
    30 Year 39 $12,135,000 $311,154 $1,729 4.62%
    1 Year 8 $1,340,000 $167,500 $1,784 4.43%
    Other 6 $1,370,000 $228,333 $5,345 4.77%
    20 Year 3 $185,000 $61,667 $384 4.81%
    3 Year 2 $340,000 $170,000 $994 4.80%

    For 2018, Bank Of Clarke County's most frequently cited loan duration was 15 Year, with 58 originations. The 2nd most popular length was 10 Year, with 52 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 131 $20,575,000 $157,061
    $1k-2k 2 $220,000 $110,000
    $2k-3k 1 $215,000 $215,000
    $3k-4k 1 $295,000 $295,000

    Bank Of Clarke County's average total fees were $1,729, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 131 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 130 $28,030,000 $215,615
    5-6% 72 $14,150,000 $196,528
    3-4% 6 $1,700,000 $283,333
    6-7% 2 $150,000 $75,000

    During 2018, Bank Of Clarke County's average interest rate for loans was 4.62%, while their most frequently originated rate bucket for loans was 4-5%, with 130 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 81 $4,245,000 $52,407 $426 5.05%
    $100k-200k 59 $8,695,000 $147,373 $965 4.92%
    $200k-400k 48 $13,690,000 $285,208 $2,146 4.72%
    $400k-600k 9 $4,345,000 $482,778 $2,419 4.80%
    $600k-1MM 9 $6,465,000 $718,333 $2,165 4.90%
    $1MM+ 4 $6,590,000 $1,647,500 $0 5.06%

    2018 saw Bank Of Clarke County place emphasis on $100,000 or less loans with 81 originations, totaling $4,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 29 $9,225,000 $318,103 $1,498 4.81%
    $100k-150k 27 $4,175,000 $154,630 $1,007 4.93%
    $50k-75k 26 $2,180,000 $83,846 $915 4.85%
    $75k-100k 24 $3,120,000 $130,000 $952 4.95%
    $150k-250k 22 $4,090,000 $185,909 $782 4.97%
    $50k or less 21 $1,845,000 $87,857 $763 4.88%

    Bank Of Clarke County lent most frequently to those with incomes in the $250k+ range, with 29 originations. The second most popular income band? $100k-150k, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 28 $5,460,000 $195,000 $1,118 4.79%
    <20% 23 $4,335,000 $188,478 $1,208 4.72%
    30-36% 21 $2,285,000 $108,810 $741 4.85%
    41% 11 $2,355,000 $214,091 $1,082 5.18%
    43% 10 $1,130,000 $113,000 $612 4.83%
    42% 7 $515,000 $73,571 $780 5.05%
    38% 6 $1,470,000 $245,000 $2,153 5.00%
    39% 6 $860,000 $143,333 $613 4.76%
    36% 6 $920,000 $153,333 $674 4.75%
    40% 4 $540,000 $135,000 $1,107 5.09%
    47% 4 $290,000 $72,500 $573 4.86%
    50-60% 4 $640,000 $160,000 $1,222 4.74%
    37% 2 $140,000 $70,000 $0 4.81%
    44% 2 $340,000 $170,000 $1,349 4.35%
    >60% 1 $25,000 $25,000 $0 5.15%

    Bank Of Clarke County lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? <20%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 149 $24,135,000 $161,980 $919 4.88%
    Not applicable 55 $18,095,000 $329,000 $0 5.07%
    Not provided 5 $1,755,000 $351,000 $2,777 4.59%
    Black 1 $45,000 $45,000 $691 4.70%

    Approval Rates

    Total approvals of all applications
    88.24%

    Bank Of Clarke County has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.95%

    Bank Of Clarke County has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 210 $44,030,000 $209,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $185,000 $185,000
    Multifamily:Site-Built 13 $10,775,000 $828,846
    Single Family (1-4 Units):Site-Built 196 $33,070,000 $168,724

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $2,985,000 $96,290 $682 4.90%
    40-60% 29 $7,045,000 $242,931 $1,184 4.82%
    60-80% 56 $16,650,000 $297,321 $1,396 4.99%
    80-100% 48 $14,860,000 $309,583 $2,178 4.71%
    Under 20% 45 $2,245,000 $49,889 $108 5.13%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BANK OF THE WEST FHA mortgage Closing on a mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 1 3.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.4%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Incorrect information on your report 2 7.4%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 3 11.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 5 18.5%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank of Clarke County 108 West Main Street Boyce, VA 22620 Full Service B&M $41,106
    Bank of Clarke County 110 Crock Wells Mill Drive Winchester, VA 22603 Full Service B&M $40,270
    Bank of Clarke County 1460 North Frederick Pike Winchester, VA 22603 Full Service B&M $59,196
    Bank of Clarke County 1508 Senseny Road Winchester, VA 22602 Full Service B&M $34,883
    Bank of Clarke County 1879 Berryville Pike Winchester, VA 22603 Full Service B&M $23,704
    Bank of Clarke County 2 East Main Street Berryville, VA 22611 Full Service B&M $168,000
    Bank of Clarke County 202 North Loudoun Street Winchester, VA 22601 Full Service B&M $90,819
    Bank of Clarke County 203 Hirst Road Purcellville, VA 20132 Full Service B&M $48,083
    Bank of Clarke County 2555 Pleasant Valley Road Winchester, VA 22601 Full Service B&M $62,427
    Bank of Clarke County 382 Fairfax Pike Stephens City, VA 22655 Full Service B&M $55,581
    Bank of Clarke County 44810 Saranac Street Ashburn, VA 20147 Full Service B&M $19,879
    Bank of Clarke County 504 East Market Street Leesburg, VA 20176 Full Service B&M $39,764

    For 2018, Bank Of Clarke County had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $31,808
    Net interest income $29,293
    Total noninterest income $5,990
    Gross Fiduciary activities income $1,360
    Service charges on deposit accounts $1,217
    Trading account gains and fees $0
    Additional Noninterest Income $3,413
    Pre-tax net operating income $10,455
    Securities gains (or losses, -) $17
    Income before extraordinary items $9,113
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,113
    Minority interest net income $0
    Net income $9,113
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,098

    Bank Of Clarke County's gross interest income from loans was $31,808,000.
    Bank Of Clarke County's net interest income from loans was $29,293,000.
    Bank Of Clarke County's fee based income from loans was $1,217,000.
    Bank Of Clarke County's net income from loans was $9,113,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,515
    Provision for credit losses $775
    Total noninterest expense $24,053
    Salaries and employee benefits $14,018
    Premises and equipment expense $2,391
    Additional noninterest expense $7,644
    Applicable income taxes $1,359
    Net charge-offs $-268
    Cash dividends $3,500

    Bank Of Clarke County's interest expense for loans was $2,515,000.
    Bank Of Clarke County's payroll and benefits expense were $14,018,000.
    Bank Of Clarke County's property, plant and equipment expenses $2,391,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 3.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $703,506
    Deposits held in domestic offices $703,506
    Deposits by Individuals, partnerships, and corporations $657,887
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $45,619
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $91,277
    Demand deposits $75,913
    Nontransaction accounts $612,229
    Money market deposit accounts (MMDAs) $140,581
    Other savings deposits (excluding MMDAs) $356,506
    Total time deposits $115,142
    Total time and savings deposits $627,593
    Noninterest-bearing deposits $251,586
    Interest-bearing deposits $451,920
    Retail deposits $632,065
    IRAs and Keogh plan accounts $5,817
    Brokered deposits $18,612
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $792,387
    Cash & Balances due from depository institutions $18,353
    Interest-bearing balances $5,995
    Total securities $144,299
    Federal funds sold & reverse repurchase $0
    Net loans and leases $598,475
    Loan and leases loss allowance $5,435
    Trading account assets $0
    Bank premises and fixed assets $19,083
    Other real estate owned $106
    Goodwill and other intangibles $0
    All other assets $12,071

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $792,387
    Total Liabilities $708,177
    Total deposits $703,506
    Interest-bearing deposits $451,920
    Deposits held in domestic offices $703,506
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $1,871
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,800

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $598,475
    Loan and leases loss allowance $5,435
    Total loans and leases (domestic) $603,910
    All real estate loans $554,388
    Real estate loans in domestic offices $554,388
    Construction and development loans $51,758
    Residential 1-4 family construction $6,706
    Other construction, all land development and other land $45,052
    Loans secured by nonfarm nonresidential properties $265,595
    Nonfarm nonresidential secured by owner-occupied properties $136,309
    Commercial real estate & other non-farm, non-residential $129,286
    Multifamily residential real estate $7,923
    1-4 family residential loans $221,861
    Farmland loans $7,251
    Loans held in foreign offices $0
    Farm loans $704
    Commercial and industrial loans $33,086
    To non-U.S. addressees $0
    Loans to individuals $8,470
    Credit card loans $0
    Related Plans $328
    Consumer Auto Loans $3,446
    Other loans to individuals $4,696
    All other loans & leases $7,750
    Loans to foreign governments and official institutions $0
    Other loans $183
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,657
    Non 1-4 family restructured loans & leases $1,057
    Total loans and leases (foreign) $0

    Bank of Clarke County had $598,475,000 of loans outstanding in 2018. $554,388,000 of loans were in real estate loans. $51,758,000 of loans were in development loans. $7,923,000 of loans were in multifamily mortgage loans. $221,861,000 of loans were in 1-4 family mortgage loans. $704,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,446,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 355 $102,096 $287,594
    Nonfarm, nonresidential loans - <$100k 38 $1,853 $48,763
    Nonfarm, nonresidential loans - $100-250k 102 $13,720 $134,510
    Nonfarm, nonresidential loans - $250k-1MM 215 $86,523 $402,433
    Commercial & Industrial, US addressed loans - <$1MM 402 $25,678 $63,876
    Commercial & Industrial, US addressed loans - <$100k 260 $6,222 $23,931
    Commercial & Industrial, US addressed loans - $100-250k 94 $8,533 $90,777
    Commercial & Industrial, US addressed loans - $250k-1MM 48 $10,923 $227,563
    Farmland loans - <$1MM 10 $2,274 $227,400
    Farmland loans - <$100k 2 $40 $20,000
    Farmland loans - $100-250k 2 $242 $121,000
    Farmland loans - $250k-1MM 6 $1,992 $332,000
    Agriculture operations loans - <$1MM 11 $704 $64,000
    Agriculture operations loans - <$100k 8 $257 $32,125
    Agriculture operations loans - $100-250k 1 $176 $176,000
    Agriculture operations loans - $250k-1MM 2 $271 $135,500