Bank Of Buffalo Mortgage Rates, Fees & Info
Hodgenville, KYLEI: 54930035PML8BGK0PX59
Tax ID: 61-0145919
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Mortgage Data
Review & Overview
Bank Of Buffalo is a smaller bank specializing in Home Purchase and Refi loans. Bank Of Buffalo has a high proportion of conventional loans. Their top two markets are Elizabethtown and Campbellsville .Bank Of Buffalo has an above average approval rate when compared to the average across all lenders. Bank Of Buffalo 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 | 8.36% | 5/25/25 |
| 30 Year Conventional Refi | 9.03% | 5/25/25 |
| 30 Year Cash-out Refi | 8.96% | 5/25/25 |
| 15 Year Conventional Purchase | 9.89% | 5/25/25 |
| 15 Year Conventional Refi | 9.73% | 5/25/25 |
| 15 Year Cash-out Refi | 9.73% | 5/25/25 |
| 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 Buffalo Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
44Origination Dollar Volume (All Markets)
$3,340,000Top 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 |
|---|---|---|---|---|---|
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 26 | $2,370,000 | $91,154 | $578 | 5.88% |
| Outside of Metro Areas | 10 | $690,000 | $69,000 | $457 | 6.30% |
| Campbellsville, KY (FHA|USDA|VA) | 8 | $280,000 | $35,000 | $315 | 6.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Bank of Buffalo 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 | 44 | $3,340,000 | $75,909 | $503 | 6.05% |
For 2018, Bank Of Buffalo's most frequently originated type of loan was Conventional, with 44 originations.
Loan Reason
For 2018, Bank Of Buffalo's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
For 2018, Bank Of Buffalo's most frequently cited loan duration was 20 Year, with 16 originations. The 2nd most popular length was Other, with 11 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 42 | $3,310,000 | $78,810 |
Bank Of Buffalo's average total fees were $968, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 42 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 25 | $1,545,000 | $61,800 |
| 6-7% | 12 | $940,000 | $78,333 |
| 4-5% | 6 | $740,000 | $123,333 |
| 3-4% | 1 | $115,000 | $115,000 |
During 2018, Bank Of Buffalo's average interest rate for loans was 6.00%, while their most frequently originated rate bucket for loans was 5-6%, with 25 originations.
Loan Sizing
2018 saw Bank Of Buffalo place emphasis on $100,000 or less loans with 32 originations, totaling $1,470,000 in origination value.
Applicant Income
Bank Of Buffalo lent most frequently to those with incomes in the $50k or less range, with 21 originations. The second most popular income band? $50k-75k, with 11 originations.
Applicant Debt to Income Ratio
Bank Of Buffalo lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? >60%, with 11 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 44 | $3,340,000 | $75,909 | $503 | 6.05% |
Approval Rates
Total approvals of all applications100.00%
Bank Of Buffalo has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 44 | $3,340,000 | $75,909 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 9 | $265,000 | $29,444 |
| Single Family (1-4 Units):Site-Built | 35 | $3,075,000 | $87,857 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF THE WEST | Conventional home mortgage | 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 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 | 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% |