The Bank Of Fayette County Mortgage Rates, Fees & Info
Piperton, TNLEI: 5493004VB8XJ1L0EOO76
Tax ID: 62-0301070
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Mortgage Data
Review & Overview
The Bank Of Fayette County is a smaller bank specializing in Home Purchase loans. The Bank Of Fayette County has a high proportion of conventional loans. Their top markets by origination volume include: Memphis, Jackson, Nashville, Oxford, and Starkville among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)The Bank Of Fayette County has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. The Bank Of Fayette County 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 | 7.60% | 11/21/24 |
| 30 Year Conventional Refi | 7.70% | 11/21/24 |
| 15 Year Conventional Purchase | 7.02% | 11/21/24 |
| 15 Year Conventional Refi | 7.19% | 11/21/24 |
| 15 Year Cash-out Refi | 7.19% | 11/21/24 |
| 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. | ||
The Bank Of Fayette County Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
302Origination Dollar Volume (All Markets)
$58,250,000Awards
The Bank of Fayette County - 2022
The Bank of Fayette County is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 190 | $43,050,000 | $226,579 | $3,671 | 5.57% |
| Outside of Metro Areas | 82 | $9,080,000 | $110,732 | $2,275 | 5.84% |
| JACKSON, TN (FHA|USDA|VA) | 8 | $960,000 | $120,000 | $2,155 | 5.85% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $3,059 | 5.88% |
| Oxford, MS (FHA|USDA|VA) | 4 | $940,000 | $235,000 | $3,555 | 5.06% |
| Starkville, MS (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $0 | 3.99% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 6.15% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 4.78% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $3,383 | 5.05% |
| Brownsville, TN (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $2,395 | 5.90% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,607 | 4.00% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,280 | 5.50% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 4.99% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 4.74% |
| Paris, TN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against The Bank of Fayette County 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 | 302 | $58,250,000 | $192,881 | $3,170 | 5.63% |
For 2022, The Bank Of Fayette County's most frequently originated type of loan was Conventional, with 302 originations.
Loan Reason
For 2022, The Bank Of Fayette County's most frequently cited loan purpose was Home Purchase, with 202 originations. The 2nd most popular reason was Refi, with 42 originations.
Loan Duration/Length
For 2022, The Bank Of Fayette County's most frequently cited loan duration was Other, with 95 originations. The 2nd most popular length was 30 Year, with 83 originations.
Origination Fees/Closing Costs
The Bank Of Fayette County's average total fees were $3,974, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 83 originations.
Interest Rates
During 2022, The Bank Of Fayette County's average interest rate for loans was 4.97%, while their most frequently originated rate bucket for loans was 5-6%, with 113 originations.
Loan Sizing
2022 saw The Bank Of Fayette County place emphasis on $100,000 or less loans with 102 originations, totaling $5,320,000 in origination value.
Applicant Income
The Bank Of Fayette County lent most frequently to those with incomes in the $100k-150k range, with 52 originations. The second most popular income band? $250k+, with 46 originations.
Applicant Debt to Income Ratio
The Bank Of Fayette County lent most frequently to those with DTI ratios of 20-30%, with 72 originations. The next most common DTI ratio? <20%, with 43 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.51%
The Bank Of Fayette County has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination90.40%
The Bank Of Fayette County has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $105,000 | $105,000 |
| NA | 301 | $58,145,000 | $193,173 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| TD BANK US HOLDING COMPANY | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| TD BANK US HOLDING COMPANY | Conventional home mortgage | Closing on a mortgage | 1 | 50.0% |