Four Corners Community Bank Mortgage Rates, Fees & Info
FARMINGTON, NMLEI: 5493005US0S6ULD1GC52
Tax ID: 85-0464375
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Mortgage Data
Review & Overview
Four Corners Community Bank is a smaller bank specializing in Home Purchase loans. Four Corners Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Farmington, Albuquerque, Waco, Durango, and Carlsbad among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Four Corners Community Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
39Origination Dollar Volume (All Markets)
$10,945,000Top 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 |
|---|---|---|---|---|---|
| FARMINGTON, NM (FHA|USDA|VA) | 17 | $3,965,000 | $233,235 | $2,038 | 6.47% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $2,505,000 | $2,505,000 | $0 | 5.00% |
| WACO, TX (FHA|USDA|VA) | 1 | $2,135,000 | $2,135,000 | $0 | 5.75% |
| Durango, CO (FHA|USDA|VA) | 5 | $1,005,000 | $201,000 | $2,714 | 5.70% |
| Outside of Metro Areas | 13 | $915,000 | $70,385 | $1,917 | 6.48% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $0 | 5.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 39 | $10,945,000 | $280,641 | $2,011 | 6.28% |
For 2018, Four Corners Community Bank's most frequently originated type of loan was Conventional, with 39 originations.
Loan Reason
For 2018, Four Corners Community Bank's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Refi, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 5 Year | 37 | $10,405,000 | $281,216 | $2,011 | 6.30% |
| Other | 2 | $540,000 | $270,000 | $0 | 5.88% |
For 2018, Four Corners Community Bank's most frequently cited loan duration was 5 Year, with 37 originations. The 2nd most popular length was Other, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 7 | $315,000 | $45,000 |
| $1k-2k | 4 | $550,000 | $137,500 |
Four Corners Community Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 7 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 22 | $5,160,000 | $234,545 |
| 6-7% | 9 | $795,000 | $88,333 |
| Over 8% | 5 | $145,000 | $29,000 |
| 4-5% | 3 | $4,845,000 | $1,615,000 |
During 2018, Four Corners Community Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 22 originations.
Loan Sizing
2018 saw Four Corners Community Bank place emphasis on $100,000 or less loans with 20 originations, totaling $1,050,000 in origination value.
Applicant Income
Four Corners Community Bank lent most frequently to those with incomes in the $50k or less range, with 6 originations. The second most popular income band? $50k-75k, with 4 originations.
Applicant Debt to Income Ratio
Four Corners Community Bank lent most frequently to those with DTI ratios of 20-30%, with 3 originations. The next most common DTI ratio? 36%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 12 | $8,420,000 | $701,667 | $0 | 5.75% |
| White | 27 | $2,525,000 | $93,519 | $2,011 | 6.52% |
Approval Rates
Total approvals of all applications70.59%
Four Corners Community Bank has a below average approval rate.
Pick Rate
Approvals leading to origination76.92%
Four Corners Community Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1398.68 | 1 | $15,000 | $15,000 |
| 150.0 | 1 | $5,000 | $5,000 |
| 783.2 | 1 | $25,000 | $25,000 |
| NA | 36 | $10,900,000 | $302,778 |