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 Refi and Home Purchase loans. Barley Mortgage has a high proportion of conventional loans. Their top markets by origination volume include: Charleston, Myrtle Beach, Columbia, Georgetown, and Greenville among others. We have data for 7 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.47% | 12/16/24 |
| 30 Year Conventional Refi | 6.47% | 12/16/24 |
| 30 Year Cash-out Refi | 6.57% | 12/16/24 |
| 30 Year VA Purchase | 5.86% | 12/16/24 |
| 15 Year Conventional Purchase | 5.76% | 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. | ||
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
231Origination Dollar Volume (All Markets)
$78,165,000Awards
Barley Mortgage - 2020
Barley Mortgage is a 2020 , due to their low .
For 2020, 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 |
|---|---|---|---|---|---|
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 221 | $75,645,000 | $342,285 | $2,404 | 3.11% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $1,774 | 3.12% |
| COLUMBIA, SC (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $1,559 | 3.08% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,350 | 2.88% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,205 | 2.99% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,030 | 3.13% |
| Outside of Metro Areas | 1 | $145,000 | $145,000 | $0 | 3.63% |
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 | 222 | $74,150,000 | $334,009 | $2,382 | 3.11% |
| VA | 9 | $4,015,000 | $446,111 | $2,614 | 3.13% |
For 2020, Barley Mortgage's most frequently originated type of loan was Conventional, with 222 originations. Their 2nd most popular type was VA, with 9 originations.
Loan Reason
For 2020, Barley Mortgage's most frequently cited loan purpose was Refi, with 142 originations. The 2nd most popular reason was Home Purchase, with 52 originations.
Loan Duration/Length
For 2020, Barley Mortgage's most frequently cited loan duration was 30 Year, with 181 originations. The 2nd most popular length was 15 Year, with 28 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 226 | $76,820,000 | $339,912 |
| $2k-3k | 1 | $125,000 | $125,000 |
| $4k-5k | 1 | $395,000 | $395,000 |
Barley Mortgage's average total fees were $2,393, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 226 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 120 | $40,110,000 | $334,250 |
| 3-4% | 106 | $36,220,000 | $341,698 |
| <2.5% | 4 | $1,320,000 | $330,000 |
| 4-5% | 1 | $515,000 | $515,000 |
During 2020, Barley Mortgage's average interest rate for loans was 3.15%, while their most frequently originated rate bucket for loans was 2.5-3%, with 120 originations.
Loan Sizing
2020 saw Barley Mortgage place emphasis on $200k-400k loans with 137 originations, totaling $41,415,000 in origination value.
Applicant Income
Barley Mortgage lent most frequently to those with incomes in the $100k-150k range, with 71 originations. The second most popular income band? $150k-250k, with 47 originations.
Applicant Debt to Income Ratio
Barley Mortgage lent most frequently to those with DTI ratios of 20-30%, with 78 originations. The next most common DTI ratio? 30-36%, with 43 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.47%
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 origination88.74%
Barley Mortgage has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 231 | $78,165,000 | $338,377 |