Pedestal Bank Mortgage Rates, Fees & Info
Houma, LALEI: 549300FH5B8B7PZP2H39
Tax ID: 72-1420533
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Mortgage Data
Review & Overview
Pedestal Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Pedestal Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lafayette, Houma, Lake Charles, Deridder, and Fort Polk South among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Pedestal 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. Pedestal 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.
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Originations
158Origination Dollar Volume (All Markets)
$20,630,000Awards
PEDESTAL BANK - 2020
PEDESTAL BANK is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| LAFAYETTE, LA (FHA|USDA|VA) | 35 | $7,725,000 | $220,714 | $1,608 | 5.85% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 24 | $4,300,000 | $179,167 | $2,578 | 5.59% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 26 | $2,620,000 | $100,769 | $1,546 | 6.23% |
| DeRidder, LA (FHA|USDA|VA) | 32 | $2,210,000 | $69,063 | $912 | 6.57% |
| Fort Polk South, LA (FHA|USDA|VA) | 20 | $1,660,000 | $83,000 | $1,198 | 6.46% |
| Outside of Metro Areas | 10 | $980,000 | $98,000 | $1,209 | 5.99% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 6.25% |
| Opelousas, LA (FHA|USDA|VA) | 7 | $345,000 | $49,286 | $1,326 | 6.54% |
| Jennings, LA (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,372 | 6.13% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 5.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against PEDESTAL 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 | 158 | $20,630,000 | $130,570 | $1,462 | 6.14% |
For 2020, Pedestal Bank's most frequently originated type of loan was Conventional, with 158 originations.
Loan Reason
For 2020, Pedestal Bank's most frequently cited loan purpose was Refi, with 71 originations. The 2nd most popular reason was Home Purchase, with 43 originations.
Loan Duration/Length
For 2020, Pedestal Bank's most frequently cited loan duration was 15 Year, with 41 originations. The 2nd most popular length was 20 Year, with 37 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 74 | $5,490,000 | $74,189 |
| $1k-2k | 8 | $1,160,000 | $145,000 |
| $2k-3k | 2 | $450,000 | $225,000 |
| $4k-5k | 1 | $405,000 | $405,000 |
Pedestal Bank's average total fees were $2,514, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 74 originations.
Interest Rates
During 2020, Pedestal Bank's average interest rate for loans was 5.67%, while their most frequently originated rate bucket for loans was 5-6%, with 55 originations.
Loan Sizing
2020 saw Pedestal Bank place emphasis on $100,000 or less loans with 114 originations, totaling $5,570,000 in origination value.
Applicant Income
Pedestal Bank lent most frequently to those with incomes in the $50k or less range, with 46 originations. The second most popular income band? $75k-100k, with 27 originations.
Applicant Debt to Income Ratio
Pedestal Bank lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? <20%, with 14 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.18%
Pedestal Bank has an average approval rate.
Pick Rate
Approvals leading to origination62.66%
Pedestal Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 8 | $210,000 | $26,250 |
| NA | 150 | $20,420,000 | $136,133 |