North State Bank Mortgage Rates, Fees & Info

Raleigh, NC

LEI: 549300EDXX36BJ0X7583

Tax ID: 56-2183599

5 stars - Updated: 4/5/25 - out of 5 stars, based on 23 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

North State Bank is a smaller bank specializing in Home Purchase loans. North State Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Raleigh, Wilmington, Myrtle Beach, Durham, and Jacksonville among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

North State 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. North 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 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.

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
Home Equity Line of Credit (HELOC) 7.06% 4/5/25
30 Year Conventional Purchase 6.73% 4/5/25
30 Year Conventional Refi 6.51% 4/5/25
30 Year Cash-out Refi 6.70% 4/5/25
30 Year FHA Purchase 7.00% 4/5/25
30 Year FHA Refi 6.91% 4/5/25
30 Year VA Purchase 6.51% 4/5/25
30 Year VA Refi 5.89% 4/5/25
30 Year USDA Purchase 6.59% 4/5/25
15 Year Conventional Purchase 5.92% 4/5/25
15 Year Conventional Refi 5.72% 4/5/25
15 Year Cash-out Refi 5.72% 4/5/25
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.

North State Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from North 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

552

Origination Dollar Volume (All Markets)

$203,250,000

Awards

North State Bank 30 Year Conventional Loans gold North State Bank 30 Year Conventional Loans gold North State Bank 30 Year Conventional Loans gold North State Bank 30 Year Conventional Loans silver
Show all (4) awards

Relative Rate

North State Bank's average 30 year fixed mortgage rate was 6.56%.

The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

This yields a difference of 0.01%.

Relative Fees (Closing Costs)

North State Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,329.

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
RALEIGH-CARY, NC (FHA|USDA|VA) 310 $115,320,000 $372,000 $5,490 6.59%
WILMINGTON, NC (FHA|USDA|VA) 93 $40,105,000 $431,237 $4,082 6.77%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 34 $12,200,000 $358,824 $4,719 6.72%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 29 $10,595,000 $365,345 $4,171 6.93%
JACKSONVILLE, NC (FHA|USDA|VA) 15 $6,145,000 $409,667 $7,278 6.77%
FAYETTEVILLE, NC (FHA|USDA|VA) 14 $3,200,000 $228,571 $7,022 6.63%
BURLINGTON, NC (FHA|USDA|VA) 7 $2,405,000 $343,571 $6,124 6.61%
Outside of Metro Areas 10 $2,400,000 $240,000 $4,894 6.51%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 5 $1,915,000 $383,000 $4,226 6.43%
ROCKY MOUNT, NC (FHA|USDA|VA) 7 $1,715,000 $245,000 $6,492 6.55%
Morehead City, NC (FHA|USDA|VA) 4 $1,080,000 $270,000 $3,402 6.72%
WINSTON-SALEM, NC (FHA|USDA|VA) 3 $955,000 $318,333 $5,519 7.04%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 5 $905,000 $181,000 $5,286 6.20%
Sanford, NC (FHA|USDA|VA) 2 $730,000 $365,000 $3,683 7.13%
ROANOKE, VA (FHA|USDA|VA) 1 $655,000 $655,000 $4,644 7.13%
NEW BERN, NC (FHA|USDA|VA) 2 $530,000 $265,000 $4,778 6.56%
GOLDSBORO, NC (FHA|USDA|VA) 3 $445,000 $148,333 $4,952 6.33%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $375,000 $375,000 $4,297 7.00%
LYNCHBURG, VA (FHA|USDA|VA) 1 $305,000 $305,000 $0 7.25%
Wilson, NC (FHA|USDA|VA) 2 $270,000 $135,000 $5,459 6.63%
Laurinburg, NC (FHA|USDA|VA) 1 $265,000 $265,000 $0 7.38%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $265,000 $265,000 $4,169 6.75%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $235,000 $235,000 $3,060 5.63%
GREENVILLE, NC (FHA|USDA|VA) 1 $235,000 $235,000 $5,074 6.25%
North State Bank's top markets include Raleigh, Wilmington, Myrtle Beach, Durham, and Jacksonville among others.

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

    We use machine learning to identify the top lenders compared against North State 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 463 $174,405,000 $376,685 $4,341 6.71%
    FHA 55 $15,995,000 $290,818 $9,802 6.28%
    VA 26 $10,960,000 $421,538 $8,713 6.27%
    USDA 5 $1,415,000 $283,000 $7,154 6.00%
    HELOC 3 $475,000 $158,333 n/a 8.33%

    For 2024, North State Bank's most frequently originated type of loan was Conventional, with 463 originations. Their 2nd most popular type was FHA, with 55 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 478 $177,300,000 $370,921 $5,469 6.62%
    Refi 32 $13,090,000 $409,063 $3,593 6.35%
    Cash Out Refi 32 $8,350,000 $260,938 $3,829 6.80%
    Other 6 $880,000 $146,667 $629 8.58%
    Home Improvement 4 $3,630,000 $907,500 $582 8.42%

    For 2024, North State Bank's most frequently cited loan purpose was Home Purchase, with 478 originations. The 2nd most popular reason was Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 509 $189,995,000 $373,271 $5,329 6.56%
    5 Year 17 $4,405,000 $259,118 $445 8.50%
    15 Year 15 $2,735,000 $182,333 $3,038 7.09%
    10 Year 4 $3,580,000 $895,000 $2,411 7.45%
    20 Year 3 $1,295,000 $431,667 $2,735 6.21%
    Other 3 $915,000 $305,000 $0 8.83%
    3 Year 1 $325,000 $325,000 $0 8.50%

    For 2024, North State Bank's most frequently cited loan duration was 30 Year, with 509 originations. The 2nd most popular length was 5 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 233 $93,975,000 $403,326
    $1k-2k 120 $33,010,000 $275,083
    $2k-3k 56 $18,480,000 $330,000
    $5k+ 31 $12,635,000 $407,581
    $3k-4k 30 $16,540,000 $551,333
    $4k-5k 15 $6,105,000 $407,000

    North State Bank's average total fees were $5,329, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 233 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 377 $137,005,000 $363,408
    5-6% 82 $28,440,000 $346,829
    7-8% 65 $30,985,000 $476,692
    Over 8% 23 $4,535,000 $197,174
    4-5% 5 $2,285,000 $457,000

    During 2024, North State Bank's average interest rate for loans was 6.56%, while their most frequently originated rate bucket for loans was 6-7%, with 377 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 267 $77,435,000 $290,019 $5,750 6.61%
    $100k-200k 101 $15,695,000 $155,396 $4,125 6.75%
    $400k-600k 91 $44,495,000 $488,956 $5,003 6.44%
    $600k-1MM 64 $45,080,000 $704,375 $5,366 6.68%
    $100,000 or less 17 $1,325,000 $77,941 $1,385 7.56%
    $1MM+ 12 $19,220,000 $1,601,667 $7,935 6.86%

    2024 saw North State Bank place emphasis on $200k-400k loans with 267 originations, totaling $77,435,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 123 $55,235,000 $449,065 $5,198 6.71%
    $100k-150k 119 $37,545,000 $315,504 $4,974 6.57%
    $50k-75k 88 $19,310,000 $219,432 $5,683 6.44%
    $250k+ 85 $54,245,000 $638,176 $4,924 6.72%
    $75k-100k 72 $20,560,000 $285,556 $5,621 6.47%
    $50k or less 41 $6,215,000 $151,585 $4,903 6.59%

    North State Bank lent most frequently to those with incomes in the $150k-250k range, with 123 originations. The second most popular income band? $100k-150k, with 119 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 90 $31,410,000 $349,000 $4,492 6.55%
    20-30% 90 $38,340,000 $426,000 $4,696 6.47%
    44% 33 $12,135,000 $367,727 $4,760 6.50%
    42% 30 $8,480,000 $282,667 $5,191 6.74%
    43% 30 $8,850,000 $295,000 $4,889 6.88%
    39% 27 $10,685,000 $395,741 $4,814 6.68%
    37% 26 $9,200,000 $353,846 $4,721 6.74%
    <20% 25 $9,055,000 $362,200 $3,982 6.51%
    50-60% 23 $7,725,000 $335,870 $10,315 6.20%
    40% 22 $9,890,000 $449,545 $6,718 6.49%
    41% 22 $6,900,000 $313,636 $6,564 6.80%
    38% 21 $7,685,000 $365,952 $4,797 6.76%
    48% 20 $8,130,000 $406,500 $6,700 6.48%
    49% 18 $5,630,000 $312,778 $5,329 6.46%
    46% 18 $6,000,000 $333,333 $5,357 6.50%
    47% 15 $5,935,000 $395,667 $5,515 6.69%
    36% 15 $6,235,000 $415,667 $3,684 6.69%
    45% 5 $1,685,000 $337,000 $5,764 6.58%

    North State Bank lent most frequently to those with DTI ratios of 30-36%, with 90 originations. The next most common DTI ratio? 20-30%, with 90 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 370 $142,630,000 $385,486 $4,974 6.55%
    Not provided 67 $24,345,000 $363,358 $5,609 6.67%
    Black 71 $19,665,000 $276,972 $6,275 6.71%
    Not applicable 17 $7,735,000 $455,000 $0 8.52%
    Asian 17 $5,825,000 $342,647 $3,943 6.60%
    American Indian 6 $1,410,000 $235,000 $6,069 6.80%
    Asian Indian 3 $1,215,000 $405,000 $3,106 6.67%
    Filipino 1 $425,000 $425,000 $3,822 5.88%

    Approval Rates

    Total approvals of all applications
    97.07%

    North State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    86.96%

    North State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 552 $203,250,000 $368,207

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    552 $203,250,000 $368,207

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $10,665,000 $288,243 $3,266 6.60%
    40-60% 95 $25,465,000 $268,053 $3,868 6.71%
    60-80% 153 $66,515,000 $434,739 $4,602 6.69%
    80-100% 246 $96,140,000 $390,813 $6,229 6.58%
    Over 100% 5 $2,095,000 $419,000 $14,930 6.20%
    Under 20% 16 $2,370,000 $148,125 $2,361 7.29%