North State Bank Mortgage Rates, Fees & Info

Raleigh, NC

LEI: 549300EDXX36BJ0X7583

Tax ID: 56-2183599

5 stars - Updated: 3/28/24 - out of 5 stars, based on 25 reviews

Latest/2023 | 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, Durham, Myrtle Beach, and Morehead City among others. We have data for 30 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 an average 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
Home Equity Line of Credit (HELOC) 6.31% 3/28/24
30 Year Conventional Purchase 6.34% 3/28/24
30 Year Conventional Refi 6.29% 3/28/24
30 Year Cash-out Refi 6.52% 3/28/24
30 Year FHA Purchase 7.02% 3/28/24
30 Year VA Purchase 6.05% 3/28/24
30 Year USDA Purchase 6.41% 3/28/24
15 Year Conventional Purchase 6.19% 3/28/24
15 Year Conventional Refi 6.11% 3/28/24
15 Year Cash-out Refi 6.11% 3/28/24
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.

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

601

Origination Dollar Volume (All Markets)

$210,555,000
Show all (10) awards

Relative Rate

North State Bank's average 30 year fixed mortgage rate was 6.44%.

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

This yields a difference of -0.04%.

Relative Fees (Closing Costs)

North State Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,793.

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
RALEIGH-CARY, NC (FHA|USDA|VA) 315 $112,575,000 $357,381 $6,123 6.48%
WILMINGTON, NC (FHA|USDA|VA) 106 $39,690,000 $374,434 $4,470 6.68%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 52 $18,370,000 $353,269 $4,485 6.59%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 37 $12,455,000 $336,622 $5,299 6.57%
Morehead City, NC (FHA|USDA|VA) 8 $3,860,000 $482,500 $4,800 6.44%
ROCKY MOUNT, NC (FHA|USDA|VA) 12 $3,100,000 $258,333 $6,910 6.65%
FAYETTEVILLE, NC (FHA|USDA|VA) 13 $3,085,000 $237,308 $6,465 6.48%
Outside of Metro Areas 11 $3,065,000 $278,636 $5,139 6.97%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 7 $3,005,000 $429,286 $5,612 6.39%
BURLINGTON, NC (FHA|USDA|VA) 5 $1,795,000 $359,000 $9,942 6.40%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 5 $1,535,000 $307,000 $6,514 6.43%
JACKSONVILLE, NC (FHA|USDA|VA) 5 $1,265,000 $253,000 $6,250 6.28%
GREENVILLE, NC (FHA|USDA|VA) 5 $915,000 $183,000 $4,069 6.93%
WINSTON-SALEM, NC (FHA|USDA|VA) 2 $750,000 $375,000 $5,365 5.88%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $725,000 $725,000 $8,067 5.50%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $555,000 $555,000 $5,859 6.88%
Boone, NC (FHA|USDA|VA) 1 $485,000 $485,000 $3,666 7.50%
Washington, NC (FHA|USDA|VA) 1 $425,000 $425,000 $3,908 7.38%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $425,000 $425,000 $0 8.50%
ASHEVILLE, NC (FHA|USDA|VA) 1 $395,000 $395,000 $7,706 6.00%
Wilson, NC (FHA|USDA|VA) 2 $390,000 $195,000 $6,171 6.44%
NEW BERN, NC (FHA|USDA|VA) 1 $375,000 $375,000 $2,799 7.50%
GOLDSBORO, NC (FHA|USDA|VA) 2 $310,000 $155,000 $4,308 6.56%
SPARTANBURG, SC (FHA|USDA|VA) 1 $305,000 $305,000 $6,208 5.88%
Marion, NC (FHA|USDA|VA) 1 $235,000 $235,000 $3,995 6.38%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $115,000 $115,000 $3,411 7.00%
Mount Airy, NC (FHA|USDA|VA) 1 $115,000 $115,000 $0 6.63%
Henderson, NC (FHA|USDA|VA) 1 $95,000 $95,000 $3,516 6.50%
Roanoke Rapids, NC (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.25%
Rockingham, NC (FHA|USDA|VA) 1 $65,000 $65,000 $2,753 5.88%
North State Bank's top markets include Raleigh, Wilmington, Durham, Myrtle Beach, and Morehead City among others.

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

    SCIENT Federal Credit Union
    Similarity Rank: 110
    Piedmont Federal Savings Bank
    Similarity Rank: 300
    Anderson Brothers Bank
    Similarity Rank: 1320
    Allen Tate Mortgage Partners, LLC
    Similarity Rank: 1377
    Coastal Carolina National Bank
    Similarity Rank: 1880
    South Atlantic Bank
    Similarity Rank: 1965
    FIRST EQUITY MORTGAGE INCORPORATED
    Similarity Rank: 2058
    Shea Mortgage Inc.
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 502 $178,790,000 $356,155 $4,809 6.58%
    FHA 54 $16,750,000 $310,185 $10,272 6.51%
    VA 27 $11,055,000 $409,444 $7,651 5.98%
    USDA 11 $3,375,000 $306,818 $8,674 5.91%
    HELOC 7 $585,000 $83,571 n/a 8.02%

    For 2023, North State Bank's most frequently originated type of loan was Conventional, with 502 originations. Their 2nd most popular type was FHA, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 539 $187,065,000 $347,059 $5,778 6.49%
    Cash Out Refi 35 $10,285,000 $293,857 $4,204 6.87%
    Refi 15 $6,795,000 $453,000 $3,764 7.33%
    Home Improvement 7 $6,045,000 $863,571 $1,185 7.41%
    Other 5 $365,000 $73,000 $297 6.53%

    For 2023, North State Bank's most frequently cited loan purpose was Home Purchase, with 539 originations. The 2nd most popular reason was Cash Out Refi, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 497 $171,675,000 $345,423 $5,793 6.44%
    5 Year 59 $21,825,000 $369,915 $0 7.23%
    15 Year 24 $5,410,000 $225,417 $3,430 6.63%
    10 Year 10 $6,260,000 $626,000 $1,933 6.46%
    Other 8 $4,220,000 $527,500 $0 7.91%
    20 Year 2 $680,000 $340,000 $3,783 7.06%
    3 Year 1 $485,000 $485,000 $0 5.50%

    For 2023, North State Bank's most frequently cited loan duration was 30 Year, with 497 originations. The 2nd most popular length was 5 Year, with 59 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 163 $53,745,000 $329,724
    $1k-2k 99 $28,375,000 $286,616
    $2k-3k 98 $34,620,000 $353,265
    $3k-4k 53 $20,365,000 $384,245
    $4k-5k 36 $15,290,000 $424,722
    $5k+ 35 $15,485,000 $442,429

    North State Bank's average total fees were $5,793, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 163 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 278 $91,410,000 $328,813
    5-6% 161 $57,785,000 $358,913
    7-8% 126 $46,490,000 $368,968
    Over 8% 25 $10,415,000 $416,600
    4-5% 11 $4,455,000 $405,000

    During 2023, North State Bank's average interest rate for loans was 6.44%, while their most frequently originated rate bucket for loans was 6-7%, with 278 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 319 $94,245,000 $295,439 $5,992 6.51%
    $400k-600k 110 $53,090,000 $482,636 $6,387 6.44%
    $100k-200k 95 $14,705,000 $154,789 $3,613 6.70%
    $600k-1MM 37 $26,355,000 $712,297 $6,261 6.56%
    $100,000 or less 26 $1,750,000 $67,308 $2,357 6.72%
    $1MM+ 14 $20,410,000 $1,457,857 $6,469 6.84%

    2023 saw North State Bank place emphasis on $200k-400k loans with 319 originations, totaling $94,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 133 $44,445,000 $334,173 $6,168 6.35%
    $150k-250k 131 $54,005,000 $412,252 $5,466 6.60%
    $75k-100k 86 $24,470,000 $284,535 $6,383 6.46%
    $50k-75k 84 $18,490,000 $220,119 $5,666 6.34%
    $250k+ 59 $31,205,000 $528,898 $5,199 6.88%
    $50k or less 35 $4,775,000 $136,429 $3,650 6.40%

    North State Bank lent most frequently to those with incomes in the $100k-150k range, with 133 originations. The second most popular income band? $150k-250k, with 131 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 100 $32,670,000 $326,700 $5,068 6.34%
    30-36% 98 $33,160,000 $338,367 $4,963 6.50%
    <20% 34 $10,730,000 $315,588 $4,293 6.20%
    39% 29 $10,875,000 $375,000 $5,628 6.35%
    43% 28 $10,320,000 $368,571 $6,831 6.46%
    37% 27 $10,285,000 $380,926 $5,442 6.47%
    36% 25 $8,195,000 $327,800 $4,913 6.48%
    50-60% 24 $8,870,000 $369,583 $10,278 6.13%
    41% 24 $7,880,000 $328,333 $5,168 6.57%
    44% 22 $6,300,000 $286,364 $5,728 6.48%
    40% 20 $6,170,000 $308,500 $5,722 6.80%
    48% 16 $4,110,000 $256,875 $7,274 6.41%
    45% 16 $5,350,000 $334,375 $5,233 6.65%
    42% 16 $6,130,000 $383,125 $5,765 6.65%
    38% 15 $5,055,000 $337,000 $4,455 6.72%
    49% 14 $5,860,000 $418,571 $7,642 6.90%
    46% 14 $4,700,000 $335,714 $7,211 6.35%
    47% 6 $2,180,000 $363,333 $6,696 6.35%

    North State Bank lent most frequently to those with DTI ratios of 20-30%, with 100 originations. The next most common DTI ratio? 30-36%, with 98 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 386 $138,560,000 $358,964 $5,439 6.44%
    Not applicable 65 $29,905,000 $460,077 $0 7.25%
    Not provided 80 $21,030,000 $262,875 $5,715 6.57%
    Black 49 $13,835,000 $282,347 $7,134 6.42%
    Asian 16 $5,460,000 $341,250 $5,882 6.73%
    American Indian 2 $760,000 $380,000 $9,788 5.88%
    Native Hawaiian or Islander 1 $435,000 $435,000 $4,827 6.00%
    Other Asian 1 $325,000 $325,000 $5,891 5.63%
    Asian Indian 1 $245,000 $245,000 $0 6.75%

    Approval Rates

    Total approvals of all applications
    95.58%

    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
    86.19%

    North State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 601 $210,555,000 $350,341

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    601 $210,555,000 $350,341

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 40 $12,760,000 $319,000 $3,215 6.58%
    40-60% 90 $30,600,000 $340,000 $4,638 6.54%
    60-80% 171 $64,025,000 $374,415 $5,180 6.73%
    80-100% 267 $97,485,000 $365,112 $6,306 6.40%
    Over 100% 8 $3,110,000 $388,750 $16,255 5.64%
    Under 20% 25 $2,575,000 $103,000 $1,383 7.12%