Peoples Bank Mortgage Rates, Fees & Info
Newton, NCLEI: 5493006HXEF6V2NZED40
Tax ID: 56-0354890
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Mortgage Data
Review & Overview
Peoples Bank is a smaller bank specializing in Home Purchase and Refi loans. Peoples Bank has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Hickory, Raleigh, Durham, and Winston among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)Peoples Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Peoples Bank 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 3/24/23 |
| 30 Year Conventional Purchase | 6.59% | 3/24/23 |
| 30 Year Conventional Refi | 6.45% | 3/24/23 |
| 30 Year Cash-out Refi | 6.85% | 3/24/23 |
| 15 Year Conventional Purchase | 5.68% | 3/24/23 |
| 15 Year Conventional Refi | 6.14% | 3/24/23 |
| 15 Year Cash-out Refi | 6.14% | 3/24/23 |
| 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
875Origination Dollar Volume (All Markets)
$202,885,000Awards
Peoples Bank - 2022
Peoples 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
Peoples Bank's average 30 year fixed mortgage rate was
4.5%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.26%.
Relative Fees (Closing Costs)
Peoples Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,639.
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 |
|---|---|---|---|---|---|
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 369 | $86,815,000 | $235,271 | $4,884 | 4.34% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 381 | $79,685,000 | $209,147 | $4,263 | 4.33% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 52 | $14,880,000 | $286,154 | $3,504 | 4.01% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 24 | $6,910,000 | $287,917 | $3,637 | 4.25% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 13 | $3,575,000 | $275,000 | $2,110 | 4.52% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 6 | $1,800,000 | $300,000 | $7,901 | 4.92% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 4 | $1,190,000 | $297,500 | $0 | 5.26% |
| Marion, NC (FHA|USDA|VA) | 5 | $1,155,000 | $231,000 | $0 | 4.25% |
| ASHEVILLE, NC (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $3,983 | 4.61% |
| BURLINGTON, NC (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $2,974 | 5.36% |
| Outside of Metro Areas | 1 | $885,000 | $885,000 | $0 | 5.13% |
| Boone, NC (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $6,633 | 4.94% |
| Forest City, NC (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $0 | 4.85% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $4,628 | 6.31% |
| Kinston, NC (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 4.75% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,186 | 4.95% |
| Wilson, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 5.75% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 3.75% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 5.09% |
| North Wilkesboro, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 7.25% |
| Shelby, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 7.50% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Peoples 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 536 | $77,610,000 | $144,795 | n/a | 4.12% |
| Conventional | 339 | $125,275,000 | $369,543 | $4,532 | 4.71% |
For 2022, Peoples Bank's most frequently originated type of loan was HELOC, with 536 originations. Their 2nd most popular type was Conventional, with 339 originations.
Loan Reason
For 2022, Peoples Bank's most frequently cited loan purpose was Home Purchase, with 243 originations. The 2nd most popular reason was Home Improvement, with 239 originations.
Loan Duration/Length
For 2022, Peoples Bank's most frequently cited loan duration was 15 Year, with 532 originations. The 2nd most popular length was 30 Year, with 109 originations.
Origination Fees/Closing Costs
Peoples Bank's average total fees were $3,639, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 66 originations.
Interest Rates
During 2022, Peoples Bank's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was 4-5%, with 230 originations.
Loan Sizing
2022 saw Peoples Bank place emphasis on $100,000 or less loans with 283 originations, totaling $16,935,000 in origination value.
Applicant Income
Peoples Bank lent most frequently to those with incomes in the $100k-150k range, with 162 originations. The second most popular income band? $150k-250k, with 149 originations.
Applicant Debt to Income Ratio
Peoples Bank lent most frequently to those with DTI ratios of 20-30%, with 165 originations. The next most common DTI ratio? 30-36%, with 131 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.31%
Peoples Bank has a below average approval rate.
Pick Rate
Approvals leading to origination90.06%
Peoples Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 875 | $202,885,000 | $231,869 |