New Peoples Bank Mortgage Rates, Fees & Info
Honaker, VALEI: 549300GIR2ODBIF9VF65
Tax ID: 54-1880861
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Mortgage Data
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, Boone, Bluefield, Johnson City, and Myrtle Beach among others. We have data for 16 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
211Origination Dollar Volume (All Markets)
$49,015,000Awards
New Peoples Bank - 2022
New Peoples Bank is a 2022 , due to their low .
For 2022, 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 |
|---|---|---|---|---|---|
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 67 | $16,335,000 | $243,806 | $3,675 | 4.98% |
| Boone, NC (FHA|USDA|VA) | 20 | $7,760,000 | $388,000 | $4,553 | 4.72% |
| Outside of Metro Areas | 52 | $6,680,000 | $128,462 | $2,529 | 4.99% |
| Bluefield, WV-VA (FHA|USDA|VA) | 39 | $6,365,000 | $163,205 | $2,771 | 4.90% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 10 | $6,090,000 | $609,000 | $5,375 | 5.02% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $1,365,000 | $1,365,000 | $14,128 | 6.25% |
| Big Stone Gap, VA (FHA|USDA|VA) | 9 | $905,000 | $100,556 | $2,511 | 5.19% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $895,000 | $895,000 | $5,012 | 5.75% |
| KNOXVILLE, TN (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $6,462 | 4.42% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $4,726 | 5.19% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 3.99% |
| Greeneville, TN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,929 | 6.25% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 4.75% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,169 | 3.50% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 5.50% |
| Newport, TN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 3.99% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 210 | $48,990,000 | $233,286 | $3,300 | 4.95% |
| HELOC | 1 | $25,000 | $25,000 | n/a | 4.25% |
For 2022, New Peoples Bank's most frequently originated type of loan was Conventional, with 210 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2022, New Peoples Bank's most frequently cited loan purpose was Home Purchase, with 126 originations. The 2nd most popular reason was Refi, with 45 originations.
Loan Duration/Length
For 2022, New Peoples Bank's most frequently cited loan duration was 20 Year, with 64 originations. The 2nd most popular length was 15 Year, with 53 originations.
Origination Fees/Closing Costs
New Peoples Bank's average total fees were $3,566, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 65 originations.
Interest Rates
During 2022, New Peoples Bank's average interest rate for loans was 5.07%, while their most frequently originated rate bucket for loans was 4-5%, with 71 originations.
Loan Sizing
2022 saw New Peoples Bank place emphasis on $100,000 or less loans with 67 originations, totaling $4,155,000 in origination value.
Applicant Income
New Peoples Bank lent most frequently to those with incomes in the $50k-75k range, with 32 originations. The second most popular income band? $100k-150k, with 30 originations.
Applicant Debt to Income Ratio
New Peoples Bank lent most frequently to those with DTI ratios of 20-30%, with 23 originations. The next most common DTI ratio? <20%, with 21 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.84%
New Peoples Bank has a below average approval rate.
Pick Rate
Approvals leading to origination77.25%
New Peoples Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 211 | $49,015,000 | $232,299 |