Wake Forest Federal Savings And Loan Association Mortgage Rates, Fees & Info

Wake Forest, NC

LEI: 5493007OYHUX3OJQ2537

Tax ID: 56-0440967

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Wake Forest Federal Savings And Loan Association is a smaller mortgage company specializing in Home Purchase and Home Improvement loans. Wake Forest Federal Savings And Loan Association has a high proportion of conventional loans. Their top markets by origination volume include: Raleigh, Rocky Mount, Durham, and Roanoke Rapids among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Wake Forest Federal Savings And Loan Association 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.

    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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    Originations

    33

    Origination Dollar Volume (All Markets)

    $9,625,000

    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
    RALEIGH-CARY, NC (FHA|USDA|VA) 24 $7,670,000 $319,583 $0 0.00%
    ROCKY MOUNT, NC (FHA|USDA|VA) 5 $795,000 $159,000 $0 0.00%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $705,000 $235,000 $0 0.00%
    Roanoke Rapids, NC (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
    Wake Forest Federal Savings And Loan Association's top markets include Raleigh, Rocky Mount, Durham, and Roanoke Rapids among others.

    Their top states include:
  • North Carolina (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 33 $9,625,000 $291,667 $0 0.00%

    For 2022, Wake Forest Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 33 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 17 $5,725,000 $336,765 $0 0.00%
    Other 5 $395,000 $79,000 $0 0.00%
    Home Improvement 4 $2,060,000 $515,000 $0 0.00%
    Cash Out Refi 4 $840,000 $210,000 $0 0.00%
    Refi 3 $605,000 $201,667 $0 0.00%

    For 2022, Wake Forest Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 17 originations. The 2nd most popular reason was Other, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 33 $9,625,000 $291,667 $0 0.00%

    For 2022, Wake Forest Federal Savings And Loan Association's most frequently cited loan duration was Other, with 33 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 11 $2,945,000 $267,727 $0 0.00%
    $100k-200k 9 $1,465,000 $162,778 $0 0.00%
    $400k-600k 6 $2,870,000 $478,333 $0 0.00%
    $100,000 or less 5 $325,000 $65,000 $0 0.00%
    $1MM+ 1 $1,135,000 $1,135,000 $0 0.00%
    $600k-1MM 1 $885,000 $885,000 $0 0.00%

    2022 saw Wake Forest Federal Savings And Loan Association place emphasis on $200k-400k loans with 11 originations, totaling $2,945,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 5 $1,555,000 $311,000 $0 0.00%
    $150k-250k 4 $1,560,000 $390,000 $0 0.00%
    $250k+ 3 $2,265,000 $755,000 $0 0.00%
    $50k-75k 3 $485,000 $161,667 $0 0.00%
    $75k-100k 2 $450,000 $225,000 $0 0.00%

    Wake Forest Federal Savings And Loan Association lent most frequently to those with incomes in the $100k-150k range, with 5 originations. The second most popular income band? $150k-250k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 33 $9,625,000 $291,667 $0 0.00%

    Wake Forest Federal Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 33 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 17 $6,315,000 $371,471 $0 0.00%
    Not applicable 16 $3,310,000 $206,875 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.37%

    Wake Forest Federal Savings And Loan Association has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    87.88%

    Wake Forest Federal Savings And Loan Association has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 33 $9,625,000 $291,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    33 $9,625,000 $291,667