Barley Mortgage Rates, Fees & Info

Mt Pleasant, SC

LEI: 549300810F3G8UKNJ127

Tax ID: 84-1921127

5 stars - out of 5 stars, based on 17 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

301

Origination Dollar Volume (All Markets)

$100,845,000
Show all (7) awards

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 applications
98.09%

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 origination
91.17%

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%