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

Jump to:

  • 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)

    • 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.38% 4/28/24
    30 Year Conventional Refi 6.52% 4/28/24
    30 Year Cash-out Refi 6.60% 4/28/24
    15 Year Conventional Purchase 6.37% 4/28/24
    15 Year Conventional Refi 6.27% 4/28/24
    15 Year Cash-out Refi 6.27% 4/28/24
    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

    213

    Origination Dollar Volume (All Markets)

    $77,935,000

    Awards

    Bank of Clarke County 30 Year Conventional Loans silver
    Show all (1) 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
    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%
    Bank Of Clarke County's top markets include Washington, Winchester, Hagerstown, Baltimore, and Point Pleasant among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • District of Columbia (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.

    Cedar Point Federal Credit Union
    Similarity Rank: 370
    IDB Global Federal Credit Union
    Similarity Rank: 1133
    Burke & Herbert Bank & Trust Company
    Similarity Rank: 1260
    MISSION MORTGAGE LLC
    Similarity Rank: 1390
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 1548
    Member Options, LLC
    Similarity Rank: 1687
    NATIONAL COOPERATIVE BANK, N.A.
    Similarity Rank: 2040
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 2106
    ANDREWS FEDERAL CREDIT UNION
    Similarity Rank: 2279
    NATIONAL INSTITUTES OF HEALTH FEDERAL CREDIT UNION
    Similarity Rank: 2466

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 107 $46,305,000 $432,757 $6,918 5.06%
    Cash Out Refi 45 $11,665,000 $259,222 $3,957 4.51%
    Refi 31 $15,655,000 $505,000 $3,324 4.67%
    Home Improvement 18 $2,520,000 $140,000 $1,631 5.03%
    Other 12 $1,790,000 $149,167 $2,707 4.85%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 110 $46,990,000 $427,182 $5,939 4.99%
    5 Year 41 $19,625,000 $478,659 $1,118 4.80%
    15 Year 32 $4,790,000 $149,688 $2,241 4.57%
    10 Year 12 $1,660,000 $138,333 $1,952 4.81%
    Other 8 $2,080,000 $260,000 $3,401 5.14%
    1 Year 6 $2,050,000 $341,667 $6,810 4.63%
    20 Year 3 $525,000 $175,000 $3,861 4.75%
    3 Year 1 $215,000 $215,000 $0 5.00%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 95 $28,915,000 $304,368
    $5k+ 23 $14,805,000 $643,696
    $1k-2k 17 $2,375,000 $139,706
    $3k-4k 9 $3,545,000 $393,889
    $2k-3k 8 $1,860,000 $232,500
    $4k-5k 6 $2,170,000 $361,667

    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

    Loan Rate Originations Total Value Average Loan
    4-5% 77 $27,915,000 $362,532
    5-6% 74 $32,570,000 $440,135
    3-4% 38 $12,190,000 $320,789
    6-7% 18 $4,290,000 $238,333
    2.5-3% 5 $735,000 $147,000
    7-8% 1 $235,000 $235,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 63 $17,335,000 $275,159 $4,327 4.96%
    $100k-200k 56 $8,180,000 $146,071 $3,124 4.68%
    $100,000 or less 29 $1,705,000 $58,793 $1,858 4.96%
    $400k-600k 26 $12,090,000 $465,000 $8,658 5.01%
    $600k-1MM 25 $18,415,000 $736,600 $7,461 4.79%
    $1MM+ 14 $20,210,000 $1,443,571 $11,912 4.97%

    2022 saw Bank Of Clarke County place emphasis on $200k-400k loans with 63 originations, totaling $17,335,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 41 $17,975,000 $438,415 $5,972 5.01%
    $100k-150k 33 $7,285,000 $220,758 $4,583 5.03%
    $50k-75k 30 $6,050,000 $201,667 $3,908 4.85%
    $250k+ 23 $15,975,000 $694,565 $7,056 4.59%
    $75k-100k 23 $5,655,000 $245,870 $4,179 4.76%
    $50k or less 19 $3,095,000 $162,895 $3,456 4.73%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 38 $13,560,000 $356,842 $4,964 5.02%
    20-30% 33 $10,515,000 $318,636 $3,947 4.57%
    <20% 15 $2,545,000 $169,667 $3,636 4.85%
    42% 11 $3,285,000 $298,636 $4,330 4.80%
    37% 10 $4,450,000 $445,000 $5,308 5.00%
    41% 8 $1,930,000 $241,250 $3,760 5.03%
    40% 8 $3,370,000 $421,250 $7,782 5.28%
    39% 6 $2,850,000 $475,000 $6,262 5.33%
    36% 6 $1,870,000 $311,667 $4,098 5.06%
    38% 5 $2,405,000 $481,000 $8,234 4.53%
    44% 5 $2,975,000 $595,000 $8,455 4.38%
    47% 3 $1,055,000 $351,667 $3,328 5.12%
    45% 2 $930,000 $465,000 $4,406 5.13%
    43% 2 $520,000 $260,000 $6,833 4.56%
    46% 2 $200,000 $100,000 $3,004 3.62%
    48% 2 $560,000 $280,000 $7,500 5.25%
    50-60% 1 $335,000 $335,000 $4,450 6.75%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 134 $45,050,000 $336,194 $5,168 4.92%
    Not applicable 43 $20,865,000 $485,233 $0 4.91%
    Not provided 16 $6,090,000 $380,625 $5,168 5.23%
    American Indian 17 $5,355,000 $315,000 $3,405 4.18%
    Asian 1 $445,000 $445,000 $6,439 3.75%
    Black 2 $130,000 $65,000 $1,128 4.44%

    Approval Rates

    Total approvals of all applications
    80.97%

    Bank Of Clarke County has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    73.71%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    213 $77,935,000 $365,892

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $5,775,000 $186,290 $2,889 4.61%
    40-60% 44 $15,700,000 $356,818 $4,404 4.83%
    60-80% 72 $31,750,000 $440,972 $5,720 4.90%
    80-100% 49 $23,565,000 $480,918 $7,842 4.97%
    Under 20% 17 $1,145,000 $67,353 $1,232 5.10%

    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%