Central Kentucky Agricultural Credit Association Mortgage Rates, Fees & Info
Lexington, KYLEI: 549300BS91G2Y1TKFS35
Tax ID: 61-1171735
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Mortgage Data
Review & Overview
Central Kentucky Agricultural Credit Association is a smaller mortgage company specializing in Home Purchase and Refi loans. Central Kentucky Agricultural Credit Association has a high proportion of conventional loans. Their top markets by origination volume include: Danville, Lexington, and Richmond among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Central Kentucky Agricultural Credit Association has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Central Kentucky Agricultural Credit Association 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.14% | 11/21/24 |
| 30 Year Conventional Refi | 7.73% | 11/21/24 |
| 15 Year Conventional Purchase | 7.17% | 11/21/24 |
| 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. | ||
Central Kentucky Agricultural Credit Association Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
16Origination Dollar Volume (All Markets)
$1,650,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 8 | $890,000 | $111,250 | $2,892 | 4.30% |
| Danville, KY (FHA|USDA|VA) | 5 | $375,000 | $75,000 | $1,295 | 3.59% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,895 | 3.95% |
| Richmond-Berea, KY (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $1,602 | 3.56% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 16 | $1,650,000 | $103,125 | $2,321 | 3.96% |
For 2021, Central Kentucky Agricultural Credit Association's most frequently originated type of loan was Conventional, with 16 originations.
Loan Reason
For 2021, Central Kentucky Agricultural Credit Association's most frequently cited loan purpose was Home Purchase, with 7 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
For 2021, Central Kentucky Agricultural Credit Association's most frequently cited loan duration was Other, with 6 originations. The 2nd most popular length was 30 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 7 | $635,000 | $90,714 |
| $<1k | 4 | $240,000 | $60,000 |
| $2k-3k | 3 | $475,000 | $158,333 |
| $3k-4k | 1 | $225,000 | $225,000 |
Central Kentucky Agricultural Credit Association's average total fees were $3,210, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 7 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 8 | $800,000 | $100,000 |
| 4-5% | 6 | $730,000 | $121,667 |
| 2.5-3% | 1 | $25,000 | $25,000 |
| 5-6% | 1 | $95,000 | $95,000 |
During 2021, Central Kentucky Agricultural Credit Association's average interest rate for loans was 4.30%, while their most frequently originated rate bucket for loans was 3-4%, with 8 originations.
Loan Sizing
2021 saw Central Kentucky Agricultural Credit Association place emphasis on $100,000 or less loans with 8 originations, totaling $440,000 in origination value.
Applicant Income
Central Kentucky Agricultural Credit Association lent most frequently to those with incomes in the $50k-75k range, with 5 originations. The second most popular income band? $50k or less, with 5 originations.
Applicant Debt to Income Ratio
Central Kentucky Agricultural Credit Association lent most frequently to those with DTI ratios of 20-30%, with 5 originations. The next most common DTI ratio? <20%, with 4 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 16 | $1,650,000 | $103,125 | $2,321 | 3.96% |
Approval Rates
Total approvals of all applications94.44%
Central Kentucky Agricultural Credit Association has an average approval rate.
Pick Rate
Approvals leading to origination93.75%
Central Kentucky Agricultural Credit Association has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 16 | $1,650,000 | $103,125 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Central Mortgage Funding, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |