B1bank Mortgage Rates, Fees & Info

Baton Rouge, LA

LEI: 54930045J8O98TUGTW86

Tax ID: 20-3977125

4.1 stars - Updated: 7/11/24 - out of 5 stars, based on 21 reviews

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Mortgage Data

Review & Overview

B1bank is a smaller bank specializing in Refi and Home Purchase loans. B1bank has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, New Orleans, Lafayette, Ruston, and Lake Charles among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)

B1bank 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. B1bank is typically a high 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 relatively high 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 7.25% 7/11/24
30 Year Conventional Refi 6.27% 7/11/24
15 Year Conventional Purchase 5.70% 7/11/24
15 Year Conventional Refi 6.12% 7/11/24
15 Year Cash-out Refi 6.12% 7/11/24
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.

B1bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from B1bank. 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

458

Origination Dollar Volume (All Markets)

$122,340,000

Relative Rate

B1bank's average 30 year fixed mortgage rate was 6.88%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.4%.

Relative Fees (Closing Costs)

B1bank's average total fees/closing costs for a 30 year fixed rate mortgage were $8,801.

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 $9,089.

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
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 18 $20,050,000 $1,113,889 $20,871 6.43%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 38 $17,680,000 $465,263 $9,210 8.51%
LAFAYETTE, LA (FHA|USDA|VA) 53 $12,215,000 $230,472 $1,359 9.46%
Ruston, LA (FHA|USDA|VA) 12 $9,810,000 $817,500 $5,821 7.70%
LAKE CHARLES, LA (FHA|USDA|VA) 55 $8,915,000 $162,091 $2,574 9.08%
Minden, LA (FHA|USDA|VA) 76 $7,570,000 $99,605 $1,519 9.83%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 10 $5,890,000 $589,000 $0 9.10%
BATON ROUGE, LA (FHA|USDA|VA) 28 $5,560,000 $198,571 $1,459 9.31%
HOUMA-THIBODAUX, LA (FHA|USDA|VA) 37 $5,255,000 $142,027 $1,587 9.66%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 16 $4,530,000 $283,125 $10,358 9.41%
COLUMBUS, OH (FHA|USDA|VA) 1 $3,815,000 $3,815,000 $0 8.00%
MONROE, LA (FHA|USDA|VA) 35 $3,405,000 $97,286 $3,278 9.57%
Outside of Metro Areas 21 $3,275,000 $155,952 $2,117 9.34%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 4 $2,740,000 $685,000 $13,574 7.29%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $2,315,000 $2,315,000 $39,039 5.90%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 2 $1,300,000 $650,000 $5,770 7.04%
Bonham, TX (FHA|USDA|VA) 1 $1,135,000 $1,135,000 $19,464 6.88%
DeRidder, LA (FHA|USDA|VA) 16 $1,070,000 $66,875 $1,151 10.45%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $24,018 6.33%
Fort Polk South, LA (FHA|USDA|VA) 14 $910,000 $65,000 $1,030 10.05%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $655,000 $655,000 $0 7.50%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $615,000 $615,000 $0 8.50%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $405,000 $405,000 $0 9.25%
Opelousas, LA (FHA|USDA|VA) 5 $405,000 $81,000 $1,279 10.25%
Cullman, AL (FHA|USDA|VA) 1 $405,000 $405,000 $4,514 7.59%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $285,000 $285,000 $0 8.49%
Morgan City, LA (FHA|USDA|VA) 3 $265,000 $88,333 $0 8.92%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $245,000 $245,000 $1,949 9.50%
Branson, MO (FHA|USDA|VA) 1 $245,000 $245,000 $0 7.75%
MISSOULA, MT (FHA|USDA|VA) 1 $205,000 $205,000 $0 8.75%
Jennings, LA (FHA|USDA|VA) 1 $115,000 $115,000 $0 9.25%
Greenwood, MS (FHA|USDA|VA) 1 $35,000 $35,000 $0 9.25%
Natchez, MS-LA (FHA|USDA|VA) 1 $15,000 $15,000 $311 10.00%
B1bank's top markets include Dallas, New Orleans, Lafayette, Ruston, and Lake Charles among others.

Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 458 $122,340,000 $267,118 $4,250 9.22%

    For 2023, B1bank's most frequently originated type of loan was Conventional, with 458 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 240 $40,760,000 $169,833 $1,857 9.55%
    Home Purchase 181 $78,985,000 $436,381 $8,728 8.63%
    Home Improvement 23 $1,685,000 $73,261 $1,448 9.80%
    Other 13 $765,000 $58,846 $1,547 10.17%
    Cash Out Refi 1 $145,000 $145,000 $0 10.25%

    For 2023, B1bank's most frequently cited loan purpose was Refi, with 240 originations. The 2nd most popular reason was Home Purchase, with 181 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 203 $39,015,000 $192,192 $699 9.39%
    Other 191 $45,655,000 $239,031 $2,300 9.34%
    1 Year 24 $5,100,000 $212,500 $0 9.72%
    15 Year 13 $13,675,000 $1,051,923 $18,172 7.02%
    10 Year 12 $6,540,000 $545,000 $4,583 8.00%
    30+ year 6 $8,430,000 $1,405,000 $22,671 6.47%
    30 Year 5 $3,235,000 $647,000 $8,801 6.88%
    3 Year 4 $690,000 $172,500 $0 9.58%

    For 2023, B1bank's most frequently cited loan duration was 5 Year, with 203 originations. The 2nd most popular length was Other, with 191 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 121 $12,545,000 $103,678
    $5k+ 25 $32,235,000 $1,289,400
    $1k-2k 23 $5,065,000 $220,217
    $2k-3k 7 $2,965,000 $423,571
    $4k-5k 1 $855,000 $855,000

    B1bank's average total fees were $8,801, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 121 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 372 $55,670,000 $149,651
    7-8% 37 $21,685,000 $586,081
    6-7% 33 $29,445,000 $892,273
    5-6% 12 $8,630,000 $719,167
    4-5% 3 $945,000 $315,000
    3-4% 1 $5,965,000 $5,965,000

    During 2023, B1bank's average interest rate for loans was 6.88%, while their most frequently originated rate bucket for loans was Over 8%, with 372 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 230 $11,130,000 $48,391 $1,109 9.89%
    $100k-200k 90 $12,690,000 $141,000 $1,727 9.29%
    $200k-400k 72 $20,070,000 $278,750 $2,404 8.53%
    $600k-1MM 28 $21,820,000 $779,286 $12,242 7.33%
    $1MM+ 23 $49,265,000 $2,141,957 $25,756 7.18%
    $400k-600k 15 $7,365,000 $491,000 $4,460 8.43%

    2023 saw B1bank place emphasis on $100,000 or less loans with 230 originations, totaling $11,130,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 54 $40,180,000 $744,074 $13,761 7.69%
    $100k-150k 53 $4,915,000 $92,736 $1,300 9.99%
    $50k or less 52 $3,930,000 $75,577 $1,076 10.11%
    $50k-75k 46 $3,800,000 $82,609 $1,282 10.02%
    $150k-250k 44 $9,390,000 $213,409 $3,665 9.10%
    $75k-100k 29 $2,665,000 $91,897 $1,831 9.59%

    B1bank lent most frequently to those with incomes in the $250k+ range, with 54 originations. The second most popular income band? $100k-150k, with 53 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 48 $13,810,000 $287,708 $4,358 9.19%
    30-36% 36 $12,000,000 $333,333 $3,762 9.45%
    <20% 22 $6,190,000 $281,364 $3,969 8.77%
    >60% 17 $4,775,000 $280,882 $3,336 9.86%
    36% 8 $3,480,000 $435,000 $8,294 8.55%
    38% 8 $540,000 $67,500 $1,310 9.95%
    37% 6 $860,000 $143,333 $2,073 9.48%
    41% 6 $910,000 $151,667 $1,605 9.36%
    42% 6 $2,680,000 $446,667 $7,003 7.96%
    50-60% 5 $455,000 $91,000 $865 10.45%
    39% 4 $2,630,000 $657,500 $12,574 6.87%
    40% 3 $1,815,000 $605,000 $10,883 8.00%
    46% 2 $40,000 $20,000 $817 11.00%
    45% 2 $200,000 $100,000 $826 10.50%
    44% 2 $330,000 $165,000 $572 7.47%
    43% 1 $55,000 $55,000 $1,071 9.50%
    47% 1 $25,000 $25,000 $250 10.75%
    48% 1 $2,675,000 $2,675,000 $44,019 6.29%
    49% 1 $35,000 $35,000 $858 10.00%

    B1bank lent most frequently to those with DTI ratios of 20-30%, with 48 originations. The next most common DTI ratio? 30-36%, with 36 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 174 $56,750,000 $326,149 $0 8.92%
    White 226 $51,350,000 $227,212 $4,178 9.38%
    Black 44 $6,290,000 $142,955 $2,620 9.77%
    American Indian 3 $3,145,000 $1,048,333 $12,512 8.68%
    Asian 4 $2,300,000 $575,000 $7,547 8.00%
    Asian Indian 1 $1,445,000 $1,445,000 $20,183 6.37%
    Not provided 6 $1,060,000 $176,667 $250 9.46%

    Approval Rates

    Total approvals of all applications
    92.05%

    B1bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.60%

    B1bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 3 $75,000 $25,000
    NA 455 $122,265,000 $268,714

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    458 $122,340,000 $267,118

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 66 $7,020,000 $106,364 $1,481 9.60%
    40-60% 102 $23,560,000 $230,980 $3,448 9.34%
    60-80% 170 $58,010,000 $341,235 $4,236 9.12%
    80-100% 71 $30,065,000 $423,451 $9,419 8.53%
    Over 100% 1 $85,000 $85,000 $806 8.13%
    Under 20% 38 $1,860,000 $48,947 $579 9.97%