Arthur State Bank Mortgage Rates, Fees & Info

Union, SC

LEI: 549300DK682S26NIMG70

Tax ID: 57-0116890

5 stars - Updated: 5/26/24 - out of 5 stars, based on 15 reviews

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Mortgage Data

Review & Overview

Arthur State Bank is a smaller bank specializing in Home Purchase loans. Arthur State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Greenville, Charlotte, Columbia, Spartanburg, and Union among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

Arthur State Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Arthur State 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 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.43% 5/26/24
30 Year Conventional Refi 6.37% 5/26/24
30 Year Cash-out Refi 6.76% 5/26/24
15 Year Conventional Purchase 6.05% 5/26/24
15 Year Conventional Refi 5.90% 5/26/24
15 Year Cash-out Refi 5.90% 5/26/24
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.

Arthur State Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Arthur State 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

213

Origination Dollar Volume (All Markets)

$58,025,000

Awards

Arthur State Bank 30 Year Conventional Loans gold Arthur State Bank 30 Year Conventional Loans gold Arthur State Bank 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Arthur State Bank's average 30 year fixed mortgage rate was 6.91%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.43%.

Relative Fees (Closing Costs)

Arthur State Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,966.

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
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 56 $17,190,000 $306,964 $4,320 7.12%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 28 $13,650,000 $487,500 $7,682 6.97%
COLUMBIA, SC (FHA|USDA|VA) 38 $9,360,000 $246,316 $4,949 7.40%
SPARTANBURG, SC (FHA|USDA|VA) 29 $6,735,000 $232,241 $5,187 7.18%
Union, SC (FHA|USDA|VA) 43 $5,445,000 $126,628 $3,441 7.04%
Greenwood, SC (FHA|USDA|VA) 6 $2,100,000 $350,000 $6,461 6.92%
Outside of Metro Areas 3 $905,000 $301,667 $6,651 6.83%
Gaffney, SC (FHA|USDA|VA) 2 $830,000 $415,000 $7,184 7.25%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $805,000 $805,000 $9,667 7.50%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $490,000 $245,000 $2,984 6.63%
Orangeburg, SC (FHA|USDA|VA) 1 $155,000 $155,000 $0 8.75%
Newberry, SC (FHA|USDA|VA) 2 $130,000 $65,000 $2,275 6.88%
FLORENCE, SC (FHA|USDA|VA) 1 $125,000 $125,000 $0 8.50%
SUMTER, SC (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.75%
Arthur State Bank's top markets include Greenville, Charlotte, Columbia, Spartanburg, and Union among others.

Their top states include:
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Arthur State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SAFE FEDERAL CREDIT UNION
    Similarity Rank: 80
    Security Federal Bank
    Similarity Rank: 150
    GREENVILLE FEDERAL CREDIT UNION
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    Allen Tate Mortgage Partners, LLC
    Similarity Rank: 1377
    MATTAMY HOME FUNDING, LLC
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    CPM Federal Credit Union
    Similarity Rank: 1562
    United Bank
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 213 $58,025,000 $272,418 $5,066 7.15%

    For 2023, Arthur State Bank's most frequently originated type of loan was Conventional, with 213 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 148 $49,460,000 $334,189 $5,867 7.19%
    Refi 22 $3,310,000 $150,455 $3,065 7.35%
    Other 21 $2,315,000 $110,238 $3,239 6.99%
    Home Improvement 12 $1,670,000 $139,167 $2,718 7.05%
    Cash Out Refi 10 $1,270,000 $127,000 $4,315 6.54%

    For 2023, Arthur State Bank's most frequently cited loan purpose was Home Purchase, with 148 originations. The 2nd most popular reason was Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 81 $17,375,000 $214,506 $3,966 6.91%
    30+ year 48 $23,820,000 $496,250 $7,852 6.90%
    5 Year 31 $10,175,000 $328,226 $0 7.30%
    20 Year 18 $2,240,000 $124,444 $4,244 8.12%
    15 Year 16 $1,080,000 $67,500 $2,761 6.69%
    3 Year 11 $2,215,000 $201,364 $0 8.36%
    Other 6 $870,000 $145,000 $2,301 7.96%
    1 Year 1 $215,000 $215,000 $0 7.50%
    10 Year 1 $35,000 $35,000 $2,619 5.88%

    For 2023, Arthur State Bank's most frequently cited loan duration was 30 Year, with 81 originations. The 2nd most popular length was 30+ year, with 48 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 40 $7,930,000 $198,250
    $5k+ 31 $20,225,000 $652,419
    $1k-2k 30 $2,570,000 $85,667
    $2k-3k 28 $5,650,000 $201,786
    $3k-4k 15 $4,075,000 $271,667
    $4k-5k 6 $2,220,000 $370,000

    Arthur State Bank's average total fees were $3,966, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 40 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 91 $25,785,000 $283,352
    7-8% 70 $20,090,000 $287,000
    Over 8% 35 $7,655,000 $218,714
    5-6% 17 $4,495,000 $264,412

    During 2023, Arthur State Bank's average interest rate for loans was 6.91%, while their most frequently originated rate bucket for loans was 6-7%, with 91 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 59 $9,025,000 $152,966 $3,809 7.24%
    $100,000 or less 56 $3,310,000 $59,107 $2,609 7.22%
    $200k-400k 53 $15,195,000 $286,698 $4,884 7.03%
    $400k-600k 24 $12,200,000 $508,333 $7,587 7.19%
    $600k-1MM 15 $10,445,000 $696,333 $9,384 7.09%
    $1MM+ 6 $7,850,000 $1,308,333 $16,873 6.76%

    2023 saw Arthur State Bank place emphasis on $100k-200k loans with 59 originations, totaling $9,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 31 $4,785,000 $154,355 $3,666 6.84%
    $50k or less 29 $2,335,000 $80,517 $2,793 6.82%
    $100k-150k 26 $8,520,000 $327,692 $5,787 6.97%
    $150k-250k 24 $10,420,000 $434,167 $6,581 6.82%
    $75k-100k 21 $4,375,000 $208,333 $3,944 6.92%
    $250k+ 19 $12,235,000 $643,947 $9,163 6.90%

    Arthur State Bank lent most frequently to those with incomes in the $50k-75k range, with 31 originations. The second most popular income band? $50k or less, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 38 $11,790,000 $310,263 $5,496 6.92%
    30-36% 29 $7,515,000 $259,138 $4,498 6.75%
    <20% 26 $3,980,000 $153,077 $3,719 6.76%
    42% 11 $4,635,000 $421,364 $6,611 6.92%
    39% 8 $2,240,000 $280,000 $4,517 6.91%
    37% 7 $1,695,000 $242,143 $4,433 6.79%
    36% 7 $2,495,000 $356,429 $6,042 7.11%
    41% 7 $3,005,000 $429,286 $6,777 7.13%
    40% 5 $2,355,000 $471,000 $7,705 7.10%
    38% 4 $490,000 $122,500 $3,497 7.00%
    43% 3 $945,000 $315,000 $5,917 6.67%
    45% 2 $310,000 $155,000 $3,645 6.38%
    44% 1 $525,000 $525,000 $8,667 7.25%
    47% 1 $435,000 $435,000 $3,129 7.63%
    49% 1 $255,000 $255,000 $4,968 7.25%

    Arthur State Bank lent most frequently to those with DTI ratios of 20-30%, with 38 originations. The next most common DTI ratio? 30-36%, with 29 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 147 $39,685,000 $269,966 $5,094 7.01%
    Not applicable 42 $12,740,000 $303,333 $0 7.86%
    Black 11 $2,305,000 $209,545 $4,658 6.84%
    Not provided 8 $2,080,000 $260,000 $5,009 6.73%
    Asian 5 $1,215,000 $243,000 $5,393 6.58%

    Approval Rates

    Total approvals of all applications
    87.63%

    Arthur State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.28%

    Arthur State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 213 $58,025,000 $272,418

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    213 $58,025,000 $272,418

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $2,930,000 $133,182 $3,556 6.90%
    40-60% 27 $6,045,000 $223,889 $4,770 6.89%
    60-80% 82 $26,800,000 $326,829 $6,160 7.19%
    80-100% 74 $21,940,000 $296,486 $4,927 7.29%
    Under 20% 8 $310,000 $38,750 $2,412 7.06%