Barley Mortgage Rates, Fees & Info
Mt Pleasant, SCLEI: 549300810F3G8UKNJ127
Tax ID: 84-1921127
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Mortgage Data
Review & Overview
Barley Mortgage is a smaller mortgage company specializing in Home Purchase loans. Barley Mortgage has a high proportion of conventional loans. Their top markets by origination volume include: Charleston, Georgetown, Greenville, Columbia, and Florence among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Barley Mortgage 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. Barley Mortgage 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 | 6.47% | 11/17/24 |
| 30 Year Conventional Refi | 6.47% | 11/17/24 |
| 30 Year Cash-out Refi | 6.57% | 11/17/24 |
| 30 Year VA Purchase | 5.86% | 11/17/24 |
| 15 Year Conventional Purchase | 5.76% | 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. | ||
Barley Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
40Origination Dollar Volume (All Markets)
$15,480,000Awards
Barley Mortgage - 2023
Barley Mortgage is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Barley Mortgage's average 30 year fixed mortgage rate was
6.75%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.27%.
Relative Fees (Closing Costs)
Barley Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,588.
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 |
|---|---|---|---|---|---|
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 34 | $13,320,000 | $391,765 | $3,445 | 6.70% |
| Georgetown, SC (FHA|USDA|VA) | 2 | $1,220,000 | $610,000 | $6,539 | 7.06% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $1,155 | 6.00% |
| Outside of Metro Areas | 1 | $245,000 | $245,000 | $3,274 | 7.13% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,770 | 6.63% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,469 | 7.13% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Barley Mortgage 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 | 40 | $15,480,000 | $387,000 | $3,572 | 6.72% |
For 2023, Barley Mortgage's most frequently originated type of loan was Conventional, with 40 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 33 | $13,115,000 | $397,424 | $3,569 | 6.65% |
| Cash Out Refi | 7 | $2,365,000 | $337,857 | $3,583 | 7.05% |
For 2023, Barley Mortgage's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Cash Out Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 39 | $15,385,000 | $394,487 | $3,588 | 6.75% |
| 15 Year | 1 | $95,000 | $95,000 | $2,945 | 5.50% |
For 2023, Barley Mortgage's most frequently cited loan duration was 30 Year, with 39 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
Barley Mortgage's average total fees were $3,588, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 23 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 23 | $8,595,000 | $373,696 |
| 7-8% | 15 | $6,415,000 | $427,667 |
| 5-6% | 2 | $470,000 | $235,000 |
During 2023, Barley Mortgage's average interest rate for loans was 6.75%, while their most frequently originated rate bucket for loans was 6-7%, with 23 originations.
Loan Sizing
2023 saw Barley Mortgage place emphasis on $200k-400k loans with 17 originations, totaling $4,845,000 in origination value.
Applicant Income
Barley Mortgage lent most frequently to those with incomes in the $100k-150k range, with 11 originations. The second most popular income band? $150k-250k, with 9 originations.
Applicant Debt to Income Ratio
Barley Mortgage lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? 44%, with 4 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 40 | $15,480,000 | $387,000 | $3,572 | 6.72% |
Approval Rates
Total approvals of all applications100.00%
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 origination70.00%
Barley Mortgage has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 40 | $15,480,000 | $387,000 |