New Peoples Bank Mortgage Rates, Fees & Info

Honaker, VA

LEI: 549300GIR2ODBIF9VF65

Tax ID: 54-1880861

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    New Peoples Bank is a smaller bank specializing in Home Purchase and Refi loans. New Peoples Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kingsport, Bluefield, Newport, Big Stone Gap, and Johnson City among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    New Peoples 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. New Peoples 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
    30 Year Conventional Purchase 6.83% 5/4/24
    30 Year Conventional Refi 6.94% 5/4/24
    30 Year Cash-out Refi 6.98% 5/4/24
    30 Year FHA Purchase 6.27% 5/4/24
    30 Year FHA Refi 6.27% 5/4/24
    30 Year USDA Purchase 6.27% 5/4/24
    15 Year Conventional Purchase 7.11% 5/4/24
    15 Year Conventional Refi 6.45% 5/4/24
    15 Year Cash-out Refi 6.45% 5/4/24
    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.

    New Peoples Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from New Peoples 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

    327

    Origination Dollar Volume (All Markets)

    $48,395,000

    Employee count

    250

    Awards

    New Peoples Bank 30 Year Conventional Loans gold New Peoples Bank 30 Year Conventional Loans silver New Peoples Bank 30 Year Conventional Loans silver
    Show all (3) awards

    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
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 89 $16,195,000 $181,966 $2,255 5.12%
    Outside of Metro Areas 112 $10,130,000 $90,446 $1,868 5.50%
    Bluefield, WV-VA (FHA|USDA|VA) 72 $9,880,000 $137,222 $2,105 5.54%
    Newport, TN (FHA|USDA|VA) 1 $6,415,000 $6,415,000 $0 6.25%
    Big Stone Gap, VA (FHA|USDA|VA) 42 $3,470,000 $82,619 $1,868 5.40%
    JOHNSON CITY, TN (FHA|USDA|VA) 4 $660,000 $165,000 $3,069 5.04%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $495,000 $495,000 $0 4.70%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $285,000 $285,000 $3,767 4.75%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $245,000 $245,000 $4,422 4.68%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $235,000 $235,000 $0 4.75%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $225,000 $225,000 $2,886 4.38%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $125,000 $125,000 $2,523 4.68%
    BECKLEY, WV (FHA|USDA|VA) 1 $35,000 $35,000 $2,118 4.75%
    New Peoples Bank's top markets include Kingsport, Bluefield, Newport, Big Stone Gap, and Johnson City among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • (FHA|USDA|VA)

    • Similar Lenders

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

    Kingsport Press Credit Union
    Similarity Rank: 10
    City National Bank of West Virginia
    Similarity Rank: 76
    MCNB Bank and Trust Co.
    Similarity Rank: 77
    New Peoples Bank, Inc.
    Similarity Rank: 221
    Highlands Union Bank
    Similarity Rank: 252
    First Community Bank
    Similarity Rank: 259
    KNOXVILLE TVA EMPLOYEES CREDIT UNION
    Similarity Rank: 306
    Summit Community Bank, Inc.
    Similarity Rank: 330
    Appalachian Community Federal Credit Union
    Similarity Rank: 605
    HomeTrust Bank
    Similarity Rank: 820

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 327 $48,395,000 $147,997 $2,034 5.37%

    For 2018, New Peoples Bank's most frequently originated type of loan was Conventional, with 327 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 175 $30,375,000 $173,571 $2,393 5.35%
    Refi 111 $15,955,000 $143,739 $1,831 5.39%
    Home Improvement 20 $1,120,000 $56,000 $1,394 5.12%
    Other 20 $910,000 $45,500 $1,238 5.78%
    Cash Out Refi 1 $35,000 $35,000 $1,956 5.13%

    For 2018, New Peoples Bank's most frequently cited loan purpose was Home Purchase, with 175 originations. The 2nd most popular reason was Refi, with 111 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 82 $10,480,000 $127,805 $2,024 5.36%
    15 Year 73 $7,965,000 $109,110 $1,845 5.52%
    30 Year 57 $8,175,000 $143,421 $2,347 4.80%
    10 Year 36 $1,810,000 $50,278 $1,381 5.70%
    5 Year 33 $5,945,000 $180,152 $1,408 5.61%
    Other 22 $9,190,000 $417,727 $1,929 5.77%
    30+ year 15 $3,715,000 $247,667 $3,183 4.76%
    1 Year 7 $1,095,000 $156,429 $0 5.14%
    3 Year 2 $20,000 $10,000 $242 7.75%

    For 2018, New Peoples Bank's most frequently cited loan duration was 20 Year, with 82 originations. The 2nd most popular length was 15 Year, with 73 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 185 $13,405,000 $72,459
    $1k-2k 37 $8,435,000 $227,973
    $3k-4k 2 $1,160,000 $580,000
    $2k-3k 1 $505,000 $505,000
    $4k-5k 1 $905,000 $905,000

    New Peoples Bank's average total fees were $2,347, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 185 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 161 $18,405,000 $114,317
    4-5% 118 $19,690,000 $166,864
    6-7% 36 $8,700,000 $241,667
    Over 8% 8 $160,000 $20,000
    3-4% 3 $1,435,000 $478,333
    7-8% 1 $5,000 $5,000

    During 2018, New Peoples Bank's average interest rate for loans was 4.80%, while their most frequently originated rate bucket for loans was 5-6%, with 161 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 194 $9,820,000 $50,619 $1,536 5.57%
    $100k-200k 84 $11,830,000 $140,833 $2,467 5.17%
    $200k-400k 32 $8,520,000 $266,250 $3,510 4.92%
    $400k-600k 9 $4,455,000 $495,000 $4,304 4.92%
    $1MM+ 5 $11,455,000 $2,291,000 $0 5.44%
    $600k-1MM 3 $2,315,000 $771,667 $7,496 4.55%

    2018 saw New Peoples Bank place emphasis on $100,000 or less loans with 194 originations, totaling $9,820,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 88 $5,300,000 $60,227 $1,640 5.56%
    $50k-75k 70 $6,200,000 $88,571 $1,915 5.45%
    $75k-100k 41 $4,915,000 $119,878 $2,169 5.33%
    $100k-150k 34 $4,220,000 $124,118 $2,340 5.37%
    $150k-250k 15 $3,025,000 $201,667 $2,694 5.19%
    $250k+ 13 $5,425,000 $417,308 $4,414 4.83%

    New Peoples Bank lent most frequently to those with incomes in the $50k or less range, with 88 originations. The second most popular income band? $50k-75k, with 70 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 78 $8,300,000 $106,410 $1,992 5.47%
    <20% 46 $3,370,000 $73,261 $1,790 5.42%
    30-36% 41 $4,625,000 $112,805 $2,040 5.35%
    37% 12 $1,220,000 $101,667 $2,300 5.06%
    39% 11 $1,085,000 $98,636 $2,039 5.20%
    42% 9 $1,165,000 $129,444 $2,203 5.10%
    41% 8 $440,000 $55,000 $1,680 5.43%
    38% 7 $1,075,000 $153,571 $3,072 6.19%
    36% 7 $975,000 $139,286 $2,505 5.19%
    40% 6 $770,000 $128,333 $2,060 5.56%
    43% 4 $570,000 $142,500 $2,461 5.51%
    48% 1 $125,000 $125,000 $2,523 4.68%
    50-60% 1 $35,000 $35,000 $1,131 6.25%
    >60% 1 $185,000 $185,000 $2,665 4.68%
    44% 1 $115,000 $115,000 $2,282 5.18%
    46% 1 $25,000 $25,000 $1,693 6.00%
    47% 1 $495,000 $495,000 $3,175 5.43%

    New Peoples Bank lent most frequently to those with DTI ratios of 20-30%, with 78 originations. The next most common DTI ratio? <20%, with 46 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 278 $33,130,000 $119,173 $2,036 5.39%
    Not applicable 48 $15,200,000 $316,667 $0 5.26%
    Not provided 1 $65,000 $65,000 $1,650 4.88%

    Approval Rates

    Total approvals of all applications
    78.37%

    New Peoples Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    74.31%

    New Peoples Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    3817.29 1 $285,000 $285,000
    NA 326 $48,110,000 $147,577

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 5 $8,705,000 $1,741,000
    Multifamily:Site-Built 22 $8,480,000 $385,455
    Single Family (1-4 Units):Manufactured 81 $4,565,000 $56,358
    Single Family (1-4 Units):Site-Built 219 $26,645,000 $121,667

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 29 $1,155,000 $39,828 $1,328 5.57%
    40-60% 44 $3,740,000 $85,000 $1,817 5.44%
    60-80% 135 $24,825,000 $183,889 $2,038 5.42%
    80-100% 111 $18,095,000 $163,018 $2,343 5.23%
    Over 100% 2 $260,000 $130,000 $2,514 6.19%
    Under 20% 6 $320,000 $53,333 $1,264 5.15%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    New Peoples Bank, Inc. 5448 Wise Norton Road Norton, VA 24273 Full Service B&M $33,753
    New Peoples Bank, Inc. 53 Commerce Drive Honaker, VA 24260 Full Service B&M $65,044
    New Peoples Bank, Inc. 101 Linden Square Drive Bristol, VA 24202 Full Service B&M $11,649
    New Peoples Bank, Inc. 111 Haysi Main Haysi, VA 24256 Full Service B&M $29,744
    New Peoples Bank, Inc. 11241 Indian Creek Road Pound, VA 24279 Full Service B&M $10,822
    New Peoples Bank, Inc. 1221 Stafford Drive Princeton, WV 24740 Full Service B&M $62,213
    New Peoples Bank, Inc. 12602 Governor G C Peery Highway Pounding Mill, VA 24637 Full Service B&M $30,107
    New Peoples Bank, Inc. 127 Chamber Drive Tazewell, VA 24651 Full Service B&M $18,819
    New Peoples Bank, Inc. 1299 Us Hwy 23 S Weber City, VA 24290 Full Service B&M $25,527
    New Peoples Bank, Inc. 1421 East Main Street Lebanon, VA 24266 Full Service B&M $36,909
    New Peoples Bank, Inc. 15050 Lee Hwy Bristol, VA 24202 Limited, Administrative $0
    New Peoples Bank, Inc. 155 East Lee Hwy. Chilhowie, VA 24319 Full Service B&M $17,648
    New Peoples Bank, Inc. 180 Lyle Way Princeton, WV 24740 Full Service B&M $2,260
    New Peoples Bank, Inc. 198 Colley Shopping Center Clintwood, VA 24228 Full Service B&M $26,659
    New Peoples Bank, Inc. 20487 Riverside Drive Grundy, VA 24614 Full Service B&M $39,265
    New Peoples Bank, Inc. 2600 N. John B. Dennis Hwy Kingsport, TN 37660 Full Service B&M $17,218
    New Peoples Bank, Inc. 350 West Main Street Abingdon, VA 24210 Full Service B&M $36,095
    New Peoples Bank, Inc. 419 Shawnee Avenue East Big Stone Gap, VA 24219 Full Service B&M $18,147
    New Peoples Bank, Inc. 514 Commerce Drive Bluefield, VA 24605 Full Service B&M $47,430
    New Peoples Bank, Inc. 663 East Jackson Street Gate City, VA 24251 Full Service B&M $33,019
    New Peoples Bank, Inc. 67 Commerce Drive Honaker, VA 24260 Limited, Administrative $0
    New Peoples Bank, Inc. 87 Miners Drive Castlewood, VA 24224 Full Service B&M $30,481

    For 2018, New Peoples Bank had 22 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $28,427
    Net interest income $24,935
    Total noninterest income $7,512
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $3,505
    Trading account gains and fees $0
    Additional Noninterest Income $4,007
    Pre-tax net operating income $2,032
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,681
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,681
    Minority interest net income $0
    Net income $1,681
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,681

    New Peoples Bank's gross interest income from loans was $28,427,000.
    New Peoples Bank's net interest income from loans was $24,935,000.
    New Peoples Bank's fee based income from loans was $3,505,000.
    New Peoples Bank's net income from loans was $1,681,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,492
    Provision for credit losses $252
    Total noninterest expense $30,163
    Salaries and employee benefits $14,203
    Premises and equipment expense $4,467
    Additional noninterest expense $11,493
    Applicable income taxes $351
    Net charge-offs $1,112
    Cash dividends $0

    New Peoples Bank's interest expense for loans was $3,492,000.
    New Peoples Bank's payroll and benefits expense were $14,203,000.
    New Peoples Bank's property, plant and equipment expenses $4,467,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 1.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $596,818
    Deposits held in domestic offices $596,818
    Deposits by Individuals, partnerships, and corporations $563,010
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $33,013
    Deposits by Commercial banks and other depository institutions in U.S. $794
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $55,571
    Demand deposits $43,795
    Nontransaction accounts $541,246
    Money market deposit accounts (MMDAs) $39,006
    Other savings deposits (excluding MMDAs) $239,492
    Total time deposits $262,749
    Total time and savings deposits $553,022
    Noninterest-bearing deposits $165,122
    Interest-bearing deposits $431,696
    Retail deposits $565,396
    IRAs and Keogh plan accounts $30,654
    Brokered deposits $13,484
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $680,984
    Cash & Balances due from depository institutions $27,908
    Interest-bearing balances $15,572
    Total securities $59,407
    Federal funds sold & reverse repurchase $264
    Net loans and leases $541,760
    Loan and leases loss allowance $5,336
    Trading account assets $0
    Bank premises and fixed assets $23,694
    Other real estate owned $5,937
    Goodwill and other intangibles $0
    All other assets $22,014

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $680,984
    Total Liabilities $614,889
    Total deposits $596,818
    Interest-bearing deposits $431,696
    Deposits held in domestic offices $596,818
    % insured (estimated) $89
    Federal funds purchased and repurchase agreements $3,630
    Trading liabilities $0
    Other borrowed funds $7,000
    Subordinated debt $0
    All other liabilities $7,441

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $541,760
    Loan and leases loss allowance $5,336
    Total loans and leases (domestic) $547,096
    All real estate loans $461,537
    Real estate loans in domestic offices $461,537
    Construction and development loans $35,119
    Residential 1-4 family construction $6,137
    Other construction, all land development and other land $28,982
    Loans secured by nonfarm nonresidential properties $140,862
    Nonfarm nonresidential secured by owner-occupied properties $84,872
    Commercial real estate & other non-farm, non-residential $55,990
    Multifamily residential real estate $13,496
    1-4 family residential loans $249,946
    Farmland loans $22,114
    Loans held in foreign offices $0
    Farm loans $5,266
    Commercial and industrial loans $55,157
    To non-U.S. addressees $0
    Loans to individuals $24,075
    Credit card loans $622
    Related Plans $709
    Consumer Auto Loans $4,789
    Other loans to individuals $17,955
    All other loans & leases $1,061
    Loans to foreign governments and official institutions $0
    Other loans $463
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $4,871
    Non 1-4 family restructured loans & leases $2,319
    Total loans and leases (foreign) $0

    New Peoples Bank had $541,760,000 of loans outstanding in 2018. $461,537,000 of loans were in real estate loans. $35,119,000 of loans were in development loans. $13,496,000 of loans were in multifamily mortgage loans. $249,946,000 of loans were in 1-4 family mortgage loans. $5,266,000 of loans were in farm loans. $622,000 of loans were in credit card loans. $4,789,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 552 $80,223 $145,332
    Nonfarm, nonresidential loans - <$100k 161 $5,436 $33,764
    Nonfarm, nonresidential loans - $100-250k 206 $20,792 $100,932
    Nonfarm, nonresidential loans - $250k-1MM 185 $53,995 $291,865
    Commercial & Industrial, US addressed loans - <$1MM 598 $35,157 $58,791
    Commercial & Industrial, US addressed loans - <$100k 432 $8,243 $19,081
    Commercial & Industrial, US addressed loans - $100-250k 100 $9,273 $92,730
    Commercial & Industrial, US addressed loans - $250k-1MM 66 $17,641 $267,288
    Farmland loans - <$1MM 170 $13,832 $81,365
    Farmland loans - <$100k 80 $2,222 $27,775
    Farmland loans - $100-250k 63 $6,349 $100,778
    Farmland loans - $250k-1MM 27 $5,261 $194,852
    Agriculture operations loans - <$1MM 278 $5,243 $18,860
    Agriculture operations loans - <$100k 257 $2,748 $10,693
    Agriculture operations loans - $100-250k 14 $1,277 $91,214
    Agriculture operations loans - $250k-1MM 7 $1,218 $174,000