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, Columbia, and Seneca among others. We have data for 3 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 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.01% | 5/13/25 |
| 30 Year Conventional Refi | 6.58% | 5/13/25 |
| 30 Year Cash-out Refi | 6.99% | 5/13/25 |
| 30 Year VA Purchase | 6.50% | 5/13/25 |
| 15 Year Conventional Refi | 5.40% | 5/13/25 |
| 15 Year Cash-out Refi | 5.40% | 5/13/25 |
| 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
46Origination Dollar Volume (All Markets)
$20,710,000Awards
Barley Mortgage - 2024
Barley Mortgage is a 2024 , due to their low .
For 2024, 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
6.8%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.25%.
Relative Fees (Closing Costs)
Barley Mortgage's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,118.
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 $8,356.
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) | 42 | $19,300,000 | $459,524 | $4,232 | 6.70% |
| COLUMBIA, SC (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $3,110 | 7.21% |
| Seneca, SC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,021 | 6.13% |
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 | 44 | $19,730,000 | $448,409 | $3,847 | 6.75% |
| VA | 2 | $980,000 | $490,000 | $11,914 | 6.00% |
For 2024, Barley Mortgage's most frequently originated type of loan was Conventional, with 44 originations. Their 2nd most popular type was VA, with 2 originations.
Loan Reason
For 2024, Barley Mortgage's most frequently cited loan purpose was Home Purchase, with 36 originations. The 2nd most popular reason was Cash Out Refi, with 6 originations.
Loan Duration/Length
For 2024, Barley Mortgage's most frequently cited loan duration was 30 Year, with 41 originations. The 2nd most popular length was 20 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 27 | $14,065,000 | $520,926 |
| $<1k | 13 | $4,485,000 | $345,000 |
| $3k-4k | 4 | $1,040,000 | $260,000 |
| $5k+ | 2 | $1,120,000 | $560,000 |
Barley Mortgage's average total fees were $4,118, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 27 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 29 | $10,375,000 | $357,759 |
| 7-8% | 13 | $8,795,000 | $676,538 |
| 5-6% | 4 | $1,540,000 | $385,000 |
During 2024, Barley Mortgage's average interest rate for loans was 6.80%, while their most frequently originated rate bucket for loans was 6-7%, with 29 originations.
Loan Sizing
2024 saw Barley Mortgage place emphasis on $200k-400k loans with 16 originations, totaling $4,770,000 in origination value.
Applicant Income
Barley Mortgage lent most frequently to those with incomes in the $250k+ range, with 15 originations. The second most popular income band? $150k-250k, with 10 originations.
Applicant Debt to Income Ratio
Barley Mortgage lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? 30-36%, with 7 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 44 | $20,480,000 | $465,455 | $4,222 | 6.72% |
| Black | 2 | $230,000 | $115,000 | $3,662 | 6.81% |
Approval Rates
Total approvals of all applications98.25%
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 origination78.26%
Barley Mortgage has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 46 | $20,710,000 | $450,217 |