Piedmont Federal Savings Bank Mortgage Rates, Fees & Info
Winston Salem, NCLEI: 549300DD6DH8XAGW3A86
Tax ID: 56-0358476
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Mortgage Data
Review & Overview
Piedmont Federal Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Piedmont Federal Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Winston, Albemarle, Raleigh, Greensboro, and Charlotte among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)Piedmont Federal Savings Bank 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. Piedmont Federal Savings Bank 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 | 6.82% | 4/17/25 |
| 30 Year Conventional Refi | 6.82% | 4/17/25 |
| 30 Year Cash-out Refi | 5.78% | 4/17/25 |
| 15 Year Conventional Purchase | 7.11% | 4/17/25 |
| 15 Year Conventional Refi | 6.00% | 4/17/25 |
| 15 Year Cash-out Refi | 6.00% | 4/17/25 |
| 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. | ||
Piedmont Federal Savings Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Piedmont Federal Savings Bank. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
152Origination Dollar Volume (All Markets)
$53,070,000Awards
Piedmont Federal Savings Bank - 2024
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For 2024, less than of lenders were eligible for this award.
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Relative Rate
Piedmont Federal Savings Bank's average 30 year fixed mortgage rate was
6.79%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.24%.
Relative Fees (Closing Costs)
Piedmont Federal Savings Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,408.
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
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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 |
|---|---|---|---|---|---|
| WINSTON-SALEM, NC (FHA|USDA|VA) | 96 | $28,380,000 | $295,625 | $3,861 | 6.87% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $4,705,000 | $4,705,000 | $0 | 6.95% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 12 | $4,340,000 | $361,667 | $7,880 | 7.16% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 11 | $2,975,000 | $270,455 | $3,499 | 6.87% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 8 | $2,560,000 | $320,000 | $2,969 | 7.66% |
| Mount Airy, NC (FHA|USDA|VA) | 4 | $1,860,000 | $465,000 | $3,709 | 7.27% |
| Outside of Metro Areas | 4 | $1,780,000 | $445,000 | $5,861 | 7.03% |
| Boone, NC (FHA|USDA|VA) | 2 | $1,620,000 | $810,000 | $8,676 | 6.51% |
| North Wilkesboro, NC (FHA|USDA|VA) | 2 | $1,040,000 | $520,000 | $3,387 | 7.58% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $3,097 | 7.65% |
| Henderson, NC (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $4,250 | 6.93% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 7.25% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $8,890 | 6.33% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 7.25% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 7.00% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,620 | 7.38% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,254 | 6.70% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 7.00% |
| Rockingham, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,635 | 7.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Piedmont Federal Savings Bank 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 | 149 | $52,685,000 | $353,591 | $4,112 | 6.93% |
| HELOC | 3 | $385,000 | $128,333 | n/a | 8.83% |
For 2024, Piedmont Federal Savings Bank's most frequently originated type of loan was Conventional, with 149 originations. Their 2nd most popular type was HELOC, with 3 originations.
Loan Reason
For 2024, Piedmont Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 101 originations. The 2nd most popular reason was Refi, with 23 originations.
Loan Duration/Length
For 2024, Piedmont Federal Savings Bank's most frequently cited loan duration was 30 Year, with 88 originations. The 2nd most popular length was 5 Year, with 27 originations.
Origination Fees/Closing Costs
Piedmont Federal Savings Bank's average total fees were $3,408, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 72 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 74 | $23,820,000 | $321,892 |
| 6-7% | 53 | $23,175,000 | $437,264 |
| 5-6% | 19 | $5,415,000 | $285,000 |
| Over 8% | 4 | $330,000 | $82,500 |
| <2.5% | 2 | $330,000 | $165,000 |
During 2024, Piedmont Federal Savings Bank's average interest rate for loans was 6.79%, while their most frequently originated rate bucket for loans was 7-8%, with 74 originations.
Loan Sizing
2024 saw Piedmont Federal Savings Bank place emphasis on $200k-400k loans with 64 originations, totaling $17,020,000 in origination value.
Applicant Income
Piedmont Federal Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 26 originations. The second most popular income band? $100k-150k, with 25 originations.
Applicant Debt to Income Ratio
Piedmont Federal Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 34 originations. The next most common DTI ratio? 30-36%, with 22 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.20%
Piedmont Federal Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination79.61%
Piedmont Federal Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 152 | $53,070,000 | $349,145 |