Morgantown Bank & Trust Company Incorporated Mortgage Rates, Fees & Info

Morgantown, KY

LEI: 5493007ZN3JNCBPMI730

Tax ID: 61-0286270

5 stars - Updated: 11/17/24 - out of 5 stars, based on 13 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Morgantown Bank & Trust Company Incorporated is a smaller bank specializing in Home Purchase and Refi loans. Morgantown Bank & Trust Company Incorporated has a high proportion of conventional loans. Their top markets by origination volume include: Bowling Green, Elizabethtown, Nashville, Owensboro, and Glasgow among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Morgantown Bank & Trust Company Incorporated 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. Morgantown Bank & Trust Company Incorporated 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.26% 11/17/24
    30 Year Conventional Refi 6.94% 11/17/24
    15 Year Conventional Purchase 6.43% 11/17/24
    15 Year Conventional Refi 6.71% 11/17/24
    15 Year Cash-out Refi 6.71% 11/17/24
    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.

    Morgantown Bank & Trust Company Incorporated Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Morgantown Bank & Trust Company Incorporated. 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

    158

    Origination Dollar Volume (All Markets)

    $34,220,000

    Awards

    Morgantown Bank & Trust Company Incorporated 30 Year Conventional Loans gold Morgantown Bank & Trust Company Incorporated 30 Year Conventional Loans gold
    Show all (2) awards

    Relative Rate

    Morgantown Bank & Trust Company Incorporated's average 30 year fixed mortgage rate was 7.16%.

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

    This yields a difference of 0.68%.

    Relative Fees (Closing Costs)

    Morgantown Bank & Trust Company Incorporated's average total fees/closing costs for a 30 year fixed rate mortgage were $2,329.

    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
    BOWLING GREEN, KY (FHA|USDA|VA) 116 $21,630,000 $186,466 $1,889 7.42%
    Outside of Metro Areas 22 $5,030,000 $228,636 $1,904 7.44%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 2 $3,510,000 $1,755,000 $2,019 6.67%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 7 $2,565,000 $366,429 $2,977 7.15%
    OWENSBORO, KY (FHA|USDA|VA) 3 $595,000 $198,333 $0 7.70%
    Glasgow, KY (FHA|USDA|VA) 5 $515,000 $103,000 $0 7.31%
    Central City, KY (FHA|USDA|VA) 3 $375,000 $125,000 $2,075 7.80%
    Morgantown Bank & Trust Company Incorporated's top markets include Bowling Green, Elizabethtown, Nashville, Owensboro, and Glasgow among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Morgantown Bank & Trust Company Incorporated based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SERVICE ONE
    Similarity Rank: 54
    Abound Federal Credit Union
    Similarity Rank: 105
    Independence Bank of Kentucky
    Similarity Rank: 128
    First Federal Savings Bank
    Similarity Rank: 150
    Morgantown Bank & Trust Company, Incorporated
    Similarity Rank: 161
    Edmonton State Bank
    Similarity Rank: 308
    German American Bank
    Similarity Rank: 950
    SOUTH CENTRAL BANK, INC.
    Similarity Rank: 1056
    FBC MORTGAGE, LLC
    Similarity Rank: 1152
    NAVY FEDERAL CREDIT UNION
    Similarity Rank: 1778

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 158 $34,220,000 $216,582 $1,956 7.41%

    For 2023, Morgantown Bank & Trust Company Incorporated's most frequently originated type of loan was Conventional, with 158 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 73 $20,205,000 $276,781 $2,355 7.28%
    Refi 60 $12,210,000 $203,500 $1,861 7.52%
    Home Improvement 16 $1,430,000 $89,375 $1,531 7.46%
    Other 9 $375,000 $41,667 $1,102 7.63%

    For 2023, Morgantown Bank & Trust Company Incorporated's most frequently cited loan purpose was Home Purchase, with 73 originations. The 2nd most popular reason was Refi, with 60 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 47 $11,955,000 $254,362 $2,329 7.16%
    20 Year 38 $9,480,000 $249,474 $2,274 7.31%
    15 Year 33 $3,805,000 $115,303 $1,443 7.70%
    Other 17 $2,975,000 $175,000 $1,545 7.54%
    1 Year 9 $1,705,000 $189,444 $3,274 7.46%
    10 Year 8 $390,000 $48,750 $1,298 7.46%
    5 Year 4 $3,410,000 $852,500 $961 7.84%
    3 Year 2 $500,000 $250,000 $0 7.83%

    For 2023, Morgantown Bank & Trust Company Incorporated's most frequently cited loan duration was 30 Year, with 47 originations. The 2nd most popular length was 20 Year, with 38 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 86 $14,270,000 $165,930
    $1k-2k 7 $2,235,000 $319,286
    $2k-3k 1 $545,000 $545,000

    Morgantown Bank & Trust Company Incorporated's average total fees were $2,329, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 86 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 96 $20,760,000 $216,250
    6-7% 37 $9,855,000 $266,351
    Over 8% 20 $2,360,000 $118,000
    5-6% 5 $1,245,000 $249,000

    During 2023, Morgantown Bank & Trust Company Incorporated's average interest rate for loans was 7.16%, while their most frequently originated rate bucket for loans was 7-8%, with 96 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 67 $4,155,000 $62,015 $1,400 7.66%
    $100k-200k 37 $5,455,000 $147,432 $1,986 7.30%
    $200k-400k 37 $10,905,000 $294,730 $2,573 7.14%
    $400k-600k 10 $4,770,000 $477,000 $2,933 7.28%
    $600k-1MM 4 $2,780,000 $695,000 $3,516 6.88%
    $1MM+ 3 $6,155,000 $2,051,667 $0 7.48%

    2023 saw Morgantown Bank & Trust Company Incorporated place emphasis on $100,000 or less loans with 67 originations, totaling $4,155,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 36 $6,280,000 $174,444 $2,082 7.60%
    $50k or less 30 $3,260,000 $108,667 $1,697 7.47%
    $75k-100k 21 $2,905,000 $138,333 $1,972 7.54%
    $50k-75k 16 $1,300,000 $81,250 $1,363 7.25%
    $150k-250k 15 $4,315,000 $287,667 $2,345 7.28%
    $250k+ 11 $3,825,000 $347,727 $3,015 7.19%

    Morgantown Bank & Trust Company Incorporated lent most frequently to those with incomes in the $100k-150k range, with 36 originations. The second most popular income band? $50k or less, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 28 $4,200,000 $150,000 $1,711 7.53%
    30-36% 16 $2,340,000 $146,250 $1,942 7.46%
    <20% 15 $1,955,000 $130,333 $1,535 7.37%
    37% 4 $570,000 $142,500 $1,717 7.33%
    36% 3 $335,000 $111,667 $1,246 6.97%
    40% 2 $300,000 $150,000 $1,616 8.08%
    38% 2 $220,000 $110,000 $2,092 7.35%
    39% 2 $320,000 $160,000 $3,003 7.31%
    47% 2 $450,000 $225,000 $2,492 7.75%
    50-60% 2 $220,000 $110,000 $2,012 7.43%
    45% 1 $545,000 $545,000 $4,755 6.85%
    46% 1 $325,000 $325,000 $2,551 7.10%
    >60% 1 $205,000 $205,000 $1,336 8.50%
    41% 1 $355,000 $355,000 $3,608 7.50%
    42% 1 $405,000 $405,000 $3,437 8.35%

    Morgantown Bank & Trust Company Incorporated lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? 30-36%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 131 $22,935,000 $175,076 $1,959 7.42%
    Not applicable 24 $10,370,000 $432,083 $0 7.33%
    Asian 1 $545,000 $545,000 $1,719 6.75%
    Black 2 $370,000 $185,000 $0 7.73%

    Approval Rates

    Total approvals of all applications
    93.99%

    Morgantown Bank & Trust Company Incorporated has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.14%

    Morgantown Bank & Trust Company Incorporated has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 158 $34,220,000 $216,582

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    158 $34,220,000 $216,582

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 29 $2,535,000 $87,414 $1,374 7.66%
    40-60% 32 $5,710,000 $178,438 $1,975 7.48%
    60-80% 49 $15,225,000 $310,714 $2,236 7.35%
    80-100% 31 $9,665,000 $311,774 $2,627 7.00%
    Under 20% 17 $1,085,000 $63,824 $1,384 7.74%