Chambers Bank Mortgage Rates, Fees & Info
Danville, ARLEI: 54930039OWZFM2IGRN69
Tax ID: 71-0042610
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Mortgage Data
Review & Overview
Chambers Bank is a smaller bank specializing in Home Purchase loans. Chambers Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Fayetteville, Little Rock, Fort Smith, Russellville, and Lake Charles among others. We have data for 31 markets. (Some data included below & more in-depth data is available with an active subscription.)Chambers Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Chambers Bank 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.57% | 9/25/23 |
| 30 Year Conventional Refi | 6.48% | 9/25/23 |
| 30 Year Cash-out Refi | 6.73% | 9/25/23 |
| 30 Year FHA Purchase | 7.01% | 9/25/23 |
| 30 Year VA Purchase | 6.14% | 9/25/23 |
| 30 Year USDA Purchase | 6.51% | 9/25/23 |
| 15 Year Conventional Purchase | 6.07% | 9/25/23 |
| 15 Year Conventional Refi | 5.74% | 9/25/23 |
| 15 Year Cash-out Refi | 5.74% | 9/25/23 |
| 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. | ||
Chambers Bank Mortgage Calculator
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This is not an official calculator from Chambers Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
497Origination Dollar Volume (All Markets)
$130,845,000Awards
Chambers Bank - 2022
Chambers Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Chambers Bank's average 30 year fixed mortgage rate was
4.71%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.05%.
Relative Fees (Closing Costs)
Chambers Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,325.
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 |
|---|---|---|---|---|---|
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 115 | $33,875,000 | $294,565 | $3,997 | 4.81% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 85 | $22,885,000 | $269,235 | $6,372 | 4.75% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 77 | $18,765,000 | $243,701 | $3,870 | 4.85% |
| Russellville, AR (FHA|USDA|VA) | 86 | $13,620,000 | $158,372 | $3,274 | 4.92% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $8,755,000 | $8,755,000 | $0 | 3.88% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 24 | $7,890,000 | $328,750 | $7,219 | 4.91% |
| Outside of Metro Areas | 42 | $7,530,000 | $179,286 | $3,334 | 4.93% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 31 | $6,415,000 | $206,935 | $2,423 | 5.57% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 4 | $1,410,000 | $352,500 | $3,087 | 5.22% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $1,385,000 | $1,385,000 | $0 | 6.75% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $0 | 3.88% |
| Searcy, AR (FHA|USDA|VA) | 4 | $800,000 | $200,000 | $4,263 | 4.31% |
| WICHITA, KS (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $4,268 | 4.50% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $13,013 | 3.63% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $5,783 | 3.88% |
| Arkadelphia, AR (FHA|USDA|VA) | 4 | $490,000 | $122,500 | $1,833 | 4.61% |
| Malvern, AR (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $2,867 | 5.76% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $11,829 | 4.63% |
| Mountain Home, AR (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $1,383 | 5.25% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $17,954 | 5.13% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $15,675 | 4.88% |
| RAPID CITY, SD (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $13,884 | 2.63% |
| Granbury, TX (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $8,193 | 4.00% |
| TULSA, OK (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 6.75% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $12,047 | 5.75% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,684 | 3.99% |
| JONESBORO, AR (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,385 | 3.75% |
| Oxford, MS (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 4.87% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,227 | 5.50% |
| Camden, AR (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,063 | 4.50% |
| El Dorado, AR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.20% |
Similar Lenders
We use machine learning to identify the top lenders compared against Chambers Bank 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 2022, Chambers Bank's most frequently originated type of loan was Conventional, with 413 originations. Their 2nd most popular type was VA, with 41 originations.
Loan Reason
For 2022, Chambers Bank's most frequently cited loan purpose was Home Purchase, with 386 originations. The 2nd most popular reason was Refi, with 50 originations.
Loan Duration/Length
For 2022, Chambers Bank's most frequently cited loan duration was 30 Year, with 275 originations. The 2nd most popular length was Other, with 74 originations.
Origination Fees/Closing Costs
Chambers Bank's average total fees were $5,325, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 188 originations.
Interest Rates
During 2022, Chambers Bank's average interest rate for loans was 4.71%, while their most frequently originated rate bucket for loans was 4-5%, with 149 originations.
Loan Sizing
2022 saw Chambers Bank place emphasis on $200k-400k loans with 188 originations, totaling $52,520,000 in origination value.
Applicant Income
Chambers Bank lent most frequently to those with incomes in the $50k-75k range, with 100 originations. The second most popular income band? $75k-100k, with 88 originations.
Applicant Debt to Income Ratio
Chambers Bank lent most frequently to those with DTI ratios of 20-30%, with 83 originations. The next most common DTI ratio? 30-36%, with 64 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.96%
Chambers Bank has an average approval rate.
Pick Rate
Approvals leading to origination75.25%
Chambers Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 497 | $130,845,000 | $263,270 |