Morgantown Bank & Trust Company Incorporated Mortgage Rates, Fees & Info
Morgantown, KYLEI: 5493007ZN3JNCBPMI730
Tax ID: 61-0286270
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Mortgage Data
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, Nashville, Evansville, Central City, and Paris among others. We have data for 10 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 a below 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 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 | 7.26% | 12/16/24 |
| 30 Year Conventional Refi | 6.94% | 12/16/24 |
| 15 Year Conventional Purchase | 6.43% | 12/16/24 |
| 15 Year Conventional Refi | 6.71% | 12/16/24 |
| 15 Year Cash-out Refi | 6.71% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
159Origination Dollar Volume (All Markets)
$35,185,000Awards
Morgantown Bank & Trust Company Incorporated - 2022
Morgantown Bank & Trust Company Incorporated 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 |
|---|---|---|---|---|---|
| BOWLING GREEN, KY (FHA|USDA|VA) | 129 | $26,225,000 | $203,295 | $1,667 | 5.01% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 4 | $4,680,000 | $1,170,000 | $7,825 | 5.13% |
| Outside of Metro Areas | 15 | $2,325,000 | $155,000 | $1,820 | 5.22% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $1,854 | 5.08% |
| Central City, KY (FHA|USDA|VA) | 4 | $510,000 | $127,500 | $1,661 | 5.04% |
| Paris, TN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 4.85% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 4.75% |
| OWENSBORO, KY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,269 | 4.50% |
| Glasgow, KY (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.25% |
| Madisonville, KY (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.50% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 159 | $35,185,000 | $221,289 | $1,806 | 5.02% |
For 2022, Morgantown Bank & Trust Company Incorporated's most frequently originated type of loan was Conventional, with 159 originations.
Loan Reason
For 2022, Morgantown Bank & Trust Company Incorporated's most frequently cited loan purpose was Home Purchase, with 76 originations. The 2nd most popular reason was Refi, with 59 originations.
Loan Duration/Length
For 2022, Morgantown Bank & Trust Company Incorporated's most frequently cited loan duration was 30 Year, with 55 originations. The 2nd most popular length was 20 Year, with 48 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 105 | $22,975,000 | $218,810 |
| $1k-2k | 1 | $1,165,000 | $1,165,000 |
Morgantown Bank & Trust Company Incorporated's average total fees were $2,010, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 105 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 74 | $17,630,000 | $238,243 |
| 5-6% | 47 | $10,885,000 | $231,596 |
| 6-7% | 21 | $2,975,000 | $141,667 |
| 3-4% | 13 | $2,585,000 | $198,846 |
| 2.5-3% | 4 | $1,110,000 | $277,500 |
During 2022, Morgantown Bank & Trust Company Incorporated's average interest rate for loans was 5.09%, while their most frequently originated rate bucket for loans was 4-5%, with 74 originations.
Loan Sizing
2022 saw Morgantown Bank & Trust Company Incorporated place emphasis on $100,000 or less loans with 69 originations, totaling $3,925,000 in origination value.
Applicant Income
Morgantown Bank & Trust Company Incorporated lent most frequently to those with incomes in the $50k or less range, with 43 originations. The second most popular income band? $100k-150k, with 30 originations.
Applicant Debt to Income Ratio
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? <20%, with 21 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.22%
Morgantown Bank & Trust Company Incorporated has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.05%
Morgantown Bank & Trust Company Incorporated has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 159 | $35,185,000 | $221,289 |