Barley Mortgage Rates, Fees & Info
Mt Pleasant, SCLEI: 549300810F3G8UKNJ127
Tax ID: 84-1921127
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Barley Mortgage is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Barley Mortgage has a high proportion of conventional loans. Their top markets include Charleston, Columbia, Greenville, Charlotte, and Sumter among others. Barley Mortgage has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Barley Mortgage is typically a low fee lendor.Originations
301Origination Dollar Volume (All Markets)
$100,845,000Awards
Barley Mortgage - 2021
Barley Mortgage is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Barley Mortgage 's average 30 year fixed rate mortgage of loans were
2.93%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.22%.
Relative Fees
Barley Mortgage 's average total fees for a 30 year fixed rate
mortgage are $2,781.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 292 | $98,910,000 | $338,733 | $2,700 | 2.85% |
| COLUMBIA, SC (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $3,102 | 3.46% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $2,916 | 3.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,166 | 2.38% |
| SUMTER, SC (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $2,861 | 2.94% |
| Outside of Metro Areas | 1 | $195,000 | $195,000 | $2,565 | 2.99% |
Barley Mortgage 's top markets include Charleston, Columbia, Greenville, Charlotte, and Sumter among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 288 | $95,290,000 | $330,868 | $2,616 | 2.87% |
| VA | 13 | $5,555,000 | $427,308 | $4,728 | 2.46% |
For the 2021 period, Barley Mortgage 's most frequently originated loan type of loans were Conventional, with 288 originations. Their 2nd most popular type is VA, with 13 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 138 | $43,480,000 | $315,072 | $2,492 | 2.74% |
| Cash Out Refi | 94 | $33,100,000 | $352,128 | $2,719 | 2.99% |
| Home Purchase | 68 | $23,820,000 | $350,294 | $3,128 | 2.89% |
| Home Improvement | 1 | $445,000 | $445,000 | $2,723 | 2.63% |
For the 2021, Barley Mortgage 's most frequently cited loan purpose of loans were Refi, with 138 originations. The 2nd most popular reason of loans were Cash Out Refi, with 94 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 234 | $81,800,000 | $349,573 | $2,781 | 2.93% |
| 15 Year | 44 | $11,940,000 | $271,364 | $2,394 | 2.48% |
| 20 Year | 20 | $6,040,000 | $302,000 | $2,565 | 2.79% |
| 10 Year | 2 | $630,000 | $315,000 | $2,357 | 2.38% |
| Other | 1 | $435,000 | $435,000 | $2,778 | 2.88% |
For the 2021, Barley Mortgage 's most frequently cited loan length of loans were 30 Year, with 234 originations. The 2nd most popular length of loans were 15 Year, with 44 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 290 | $97,510,000 | $336,241 |
| $3k-4k | 5 | $2,335,000 | $467,000 |
| $1k-2k | 3 | $335,000 | $111,667 |
| $2k-3k | 2 | $240,000 | $120,000 |
| $5k+ | 1 | $425,000 | $425,000 |
$2,781 of loans were Barley Mortgage 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 290 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 170 | $57,770,000 | $339,824 |
| 3-4% | 75 | $25,985,000 | $346,467 |
| <2.5% | 55 | $16,925,000 | $307,727 |
| 4-5% | 1 | $165,000 | $165,000 |
During 2021, Barley Mortgage 's average interest rate of loans were 2.93%, while their most frequently originated rate bucket of loans were 2.5-3%, with 170 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 166 | $48,560,000 | $292,530 | $2,555 | 2.85% |
| $400k-600k | 78 | $37,570,000 | $481,667 | $3,056 | 2.84% |
| $100k-200k | 44 | $7,180,000 | $163,182 | $2,256 | 2.84% |
| $100,000 or less | 5 | $435,000 | $87,000 | $2,549 | 3.05% |
| $600k-1MM | 5 | $3,455,000 | $691,000 | $4,882 | 3.05% |
| $1MM+ | 3 | $3,645,000 | $1,215,000 | $5,323 | 3.17% |
2021 saw Barley Mortgage place emphasis on $200k-400k loans with 166 originations, totaling $48,560,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 82 | $29,220,000 | $356,341 | $2,610 | 2.81% |
| $150k-250k | 53 | $20,525,000 | $387,264 | $3,131 | 2.84% |
| $50k-75k | 53 | $13,725,000 | $258,962 | $2,708 | 2.90% |
| $75k-100k | 53 | $15,475,000 | $291,981 | $2,444 | 2.92% |
| $250k+ | 29 | $13,705,000 | $472,586 | $3,117 | 2.83% |
| $50k or less | 29 | $7,685,000 | $265,000 | $2,242 | 2.83% |
Barley Mortgage lent most frequently to those with incomes in the $100k-150k range, with 82 originations. The second most popular income band? $150k-250k, with 53 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 89 | $30,135,000 | $338,596 | $2,552 | 2.82% |
| 30-36% | 53 | $19,415,000 | $366,321 | $2,916 | 2.94% |
| <20% | 42 | $13,680,000 | $325,714 | $2,847 | 2.75% |
| 44% | 13 | $4,435,000 | $341,154 | $2,922 | 3.03% |
| 38% | 11 | $3,105,000 | $282,273 | $3,318 | 2.77% |
| 42% | 10 | $3,270,000 | $327,000 | $2,692 | 2.75% |
| 36% | 10 | $3,040,000 | $304,000 | $2,874 | 3.04% |
| 37% | 10 | $3,020,000 | $302,000 | $2,362 | 3.00% |
| 49% | 9 | $2,685,000 | $298,333 | $2,712 | 3.06% |
| 40% | 9 | $2,685,000 | $298,333 | $2,292 | 2.88% |
| 43% | 9 | $2,605,000 | $289,444 | $2,652 | 2.85% |
| 41% | 8 | $3,160,000 | $395,000 | $2,532 | 2.87% |
| 39% | 7 | $1,935,000 | $276,429 | $2,636 | 3.05% |
| >60% | 6 | $2,950,000 | $491,667 | $2,071 | 2.48% |
| 48% | 3 | $825,000 | $275,000 | $2,478 | 2.79% |
| 46% | 3 | $845,000 | $281,667 | $2,045 | 2.67% |
| 45% | 3 | $915,000 | $305,000 | $2,649 | 2.83% |
| 47% | 2 | $730,000 | $365,000 | $2,716 | 2.94% |
| 50-60% | 2 | $900,000 | $450,000 | $3,263 | 2.81% |
Barley Mortgage lent most frequently to those with DTI ratios of 20-30%, with 89 originations. The next most common DTI ratio? 30-36%, with 53 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 298 | $99,570,000 | $334,128 | $2,699 | 2.85% |
| Asian | 1 | $745,000 | $745,000 | $8,013 | 3.38% |
| Black | 2 | $530,000 | $265,000 | $1,320 | 2.93% |
Approval Rates
Total approvals of all applications98.09%
Barley Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination91.17%
Barley Mortgage has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 301 | $100,845,000 | $335,033 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 301 | $100,845,000 | $335,033 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 42 | $11,670,000 | $277,857 | $2,564 | 2.70% |
| 40-60% | 98 | $32,260,000 | $329,184 | $2,610 | 2.81% |
| 60-80% | 119 | $43,045,000 | $361,723 | $2,683 | 2.94% |
| 80-100% | 37 | $12,255,000 | $331,216 | $2,448 | 2.91% |
| Over 100% | 2 | $760,000 | $380,000 | $16,240 | 2.44% |
| Under 20% | 1 | $345,000 | $345,000 | $2,682 | 2.50% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Barley Mortgage, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |
