Chambers Bank Mortgage Rates, Fees & Info

Danville, AR

LEI: 54930039OWZFM2IGRN69

Tax ID: 71-0042610

5 stars - out of 5 stars, based on 22 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Chambers Bank is a smaller bank specializing in 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.

    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 6.57% 3/31/23
    30 Year Conventional Refi 6.48% 3/31/23
    30 Year Cash-out Refi 6.73% 3/31/23
    30 Year FHA Purchase 7.01% 3/31/23
    30 Year VA Purchase 6.14% 3/31/23
    30 Year USDA Purchase 6.51% 3/31/23
    15 Year Conventional Purchase 6.07% 3/31/23
    15 Year Conventional Refi 5.74% 3/31/23
    15 Year Cash-out Refi 5.74% 3/31/23
    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.


    Originations

    497

    Origination Dollar Volume (All Markets)

    $130,845,000
    Show all (11) awards

    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%
    Chambers Bank's top markets include Fayetteville, Little Rock, Fort Smith, Russellville, and Lake Charles among others.

    Their top states include:
  • Arkansas (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Louisiana (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • California (FHA|USDA|VA)

    • 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.

    FIRST WESTERN MORTGAGE, INC.
    Similarity Rank: 255
    Farmers Bank & Trust Company
    Similarity Rank: 280
    Truity Federal Credit Union
    Similarity Rank: 408
    The Farmers & Merchants Bank
    Similarity Rank: 896
    TELCOE FEDERAL CREDIT UNION
    Similarity Rank: 928
    Generations Bank
    Similarity Rank: 1180
    The First National Bank of Fort Smith
    Similarity Rank: 1617
    Priority Bank
    Similarity Rank: 1860
    First National Bank
    Similarity Rank: 2450
    Farm Credit Services of Western Arkansas, ACA
    Similarity Rank: 2688

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 413 $109,635,000 $265,460 $3,516 4.97%
    VA 41 $12,795,000 $312,073 $9,668 4.49%
    FHA 28 $5,760,000 $205,714 $6,836 4.59%
    USDA 15 $2,655,000 $177,000 $4,584 4.23%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 386 $98,910,000 $256,244 $4,947 4.99%
    Refi 50 $12,790,000 $255,800 $3,149 4.65%
    Cash Out Refi 35 $7,895,000 $225,571 $4,412 4.30%
    Home Improvement 14 $9,810,000 $700,714 $1,505 4.87%
    Other 12 $1,440,000 $120,000 $1,727 4.40%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 275 $75,015,000 $272,782 $5,325 4.71%
    Other 74 $13,170,000 $177,973 $1,569 4.94%
    3 Year 54 $10,190,000 $188,704 $0 5.92%
    5 Year 49 $23,015,000 $469,694 $0 4.98%
    15 Year 20 $4,050,000 $202,500 $3,511 3.79%
    1 Year 17 $3,955,000 $232,647 $0 5.46%
    20 Year 6 $1,230,000 $205,000 $3,222 4.60%
    10 Year 2 $220,000 $110,000 $2,812 4.25%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 188 $44,110,000 $234,628
    $1k-2k 63 $14,035,000 $222,778
    $2k-3k 34 $7,880,000 $231,765
    $3k-4k 21 $5,575,000 $265,476
    $5k+ 14 $7,320,000 $522,857
    $4k-5k 10 $3,940,000 $394,000

    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

    Loan Rate Originations Total Value Average Loan
    4-5% 149 $36,005,000 $241,644
    5-6% 145 $32,965,000 $227,345
    3-4% 95 $35,105,000 $369,526
    6-7% 60 $15,680,000 $261,333
    2.5-3% 27 $6,295,000 $233,148
    7-8% 17 $3,415,000 $200,882
    <2.5% 4 $1,380,000 $345,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 188 $52,520,000 $279,362 $5,319 4.79%
    $100k-200k 149 $23,005,000 $154,396 $3,632 4.86%
    $100,000 or less 96 $6,150,000 $64,063 $1,979 5.20%
    $400k-600k 41 $19,385,000 $472,805 $5,640 4.71%
    $600k-1MM 15 $11,155,000 $743,667 $10,414 4.73%
    $1MM+ 8 $18,630,000 $2,328,750 $17,400 5.14%

    2022 saw Chambers Bank place emphasis on $200k-400k loans with 188 originations, totaling $52,520,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 100 $18,030,000 $180,300 $4,407 4.69%
    $75k-100k 88 $19,060,000 $216,591 $4,644 4.73%
    $100k-150k 73 $20,455,000 $280,205 $4,764 5.09%
    $150k-250k 62 $20,160,000 $325,161 $5,310 4.83%
    $50k or less 57 $6,755,000 $118,509 $3,616 4.65%
    $250k+ 33 $11,355,000 $344,091 $6,186 4.94%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 83 $20,505,000 $247,048 $4,046 4.60%
    30-36% 64 $14,380,000 $224,688 $4,004 4.58%
    <20% 26 $4,740,000 $182,308 $2,677 4.91%
    37% 17 $4,525,000 $266,176 $4,935 4.77%
    46% 16 $4,560,000 $285,000 $4,181 4.63%
    50-60% 16 $4,610,000 $288,125 $8,626 4.64%
    42% 15 $2,835,000 $189,000 $3,465 4.80%
    36% 15 $3,155,000 $210,333 $4,845 4.63%
    49% 15 $3,865,000 $257,667 $4,626 4.98%
    38% 13 $4,465,000 $343,462 $5,663 4.47%
    40% 13 $3,595,000 $276,538 $6,346 4.52%
    45% 12 $3,110,000 $259,167 $5,862 4.99%
    47% 11 $3,005,000 $273,182 $5,350 5.32%
    39% 11 $2,745,000 $249,545 $4,237 4.40%
    43% 10 $2,720,000 $272,000 $4,722 4.64%
    41% 10 $2,440,000 $244,000 $4,406 4.54%
    44% 8 $1,850,000 $231,250 $5,872 5.06%
    48% 8 $2,170,000 $271,250 $6,239 5.20%
    >60% 2 $740,000 $370,000 $8,908 5.06%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 350 $81,370,000 $232,486 $4,530 4.80%
    Not applicable 70 $29,700,000 $424,286 $0 5.33%
    Not provided 43 $10,645,000 $247,558 $5,415 4.96%
    Asian 18 $5,030,000 $279,444 $3,954 4.99%
    American Indian 11 $2,775,000 $252,273 $5,276 4.36%
    Black 4 $1,260,000 $315,000 $5,935 3.97%
    Other Asian 1 $65,000 $65,000 $1,621 6.25%

    Approval Rates

    Total approvals of all applications
    93.96%

    Chambers Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.25%

    Chambers Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 497 $130,845,000 $263,270

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    497 $130,845,000 $263,270

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $4,490,000 $204,091 $2,492 4.60%
    40-60% 48 $21,450,000 $446,875 $3,040 5.03%
    60-80% 160 $41,030,000 $256,438 $4,199 4.98%
    80-100% 243 $58,045,000 $238,868 $4,561 4.86%
    Over 100% 16 $5,510,000 $344,375 $13,676 4.56%
    Under 20% 7 $305,000 $43,571 $1,447 4.36%