Smartbank Mortgage Rates, Fees & Info

Pigeon Forge, TN

LEI: 549300GZY55UGMUMI322

Tax ID: 20-4091629

5 stars - Updated: 10/29/24 - out of 5 stars, based on 27 reviews

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

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Mortgage Data

Review & Overview

Smartbank is a smaller bank specializing in Home Purchase loans. Smartbank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Knoxville, Nashville, Sevierville, Chattanooga, and Panama City among others. We have data for 46 markets. (Some data included below & more in-depth data is available with an active subscription.)

Smartbank 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. Smartbank 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) 6.27% 10/29/24
30 Year Conventional Purchase 6.11% 10/29/24
30 Year Conventional Refi 6.12% 10/29/24
30 Year Cash-out Refi 6.51% 10/29/24
30 Year FHA Purchase 7.06% 10/29/24
30 Year FHA Refi 6.27% 10/29/24
30 Year VA Purchase 6.47% 10/29/24
30 Year VA Refi 6.27% 10/29/24
30 Year USDA Purchase 6.92% 10/29/24
15 Year Conventional Purchase 5.60% 10/29/24
15 Year Conventional Refi 6.03% 10/29/24
15 Year Cash-out Refi 6.03% 10/29/24
15 Year FHA Purchase 5.68% 10/29/24
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.

Smartbank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Smartbank. 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

728

Origination Dollar Volume (All Markets)

$209,290,000
Show all (7) awards

Relative Rate

Smartbank's average 30 year fixed mortgage rate was 6.51%.

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

This yields a difference of 0.03%.

Relative Fees (Closing Costs)

Smartbank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,245.

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
KNOXVILLE, TN (FHA|USDA|VA) 120 $32,010,000 $266,750 $5,580 7.69%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 59 $26,685,000 $452,288 $6,257 7.66%
Sevierville, TN (FHA|USDA|VA) 78 $20,220,000 $259,231 $6,321 7.84%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 58 $17,280,000 $297,931 $5,559 7.79%
Outside of Metro Areas 54 $9,960,000 $184,444 $6,782 7.58%
PANAMA CITY, FL (FHA|USDA|VA) 20 $9,880,000 $494,000 $8,014 6.59%
TUSCALOOSA, AL (FHA|USDA|VA) 42 $9,170,000 $218,333 $5,043 7.46%
Tullahoma-Manchester, TN (FHA|USDA|VA) 26 $8,150,000 $313,462 $5,819 6.95%
Crossville, TN (FHA|USDA|VA) 39 $7,835,000 $200,897 $5,459 7.99%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 7 $7,735,000 $1,105,000 $9,067 6.68%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 19 $7,235,000 $380,789 $4,813 7.55%
CLEVELAND, TN (FHA|USDA|VA) 41 $6,705,000 $163,537 $4,147 7.52%
Cookeville, TN (FHA|USDA|VA) 25 $5,815,000 $232,600 $6,024 7.62%
HUNTSVILLE, AL (FHA|USDA|VA) 23 $5,435,000 $236,304 $4,302 7.58%
MORRISTOWN, TN (FHA|USDA|VA) 13 $3,885,000 $298,846 $6,864 7.07%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 13 $3,825,000 $294,231 $6,956 7.68%
MOBILE, AL (FHA|USDA|VA) 19 $3,335,000 $175,526 $5,306 7.68%
Cullowhee, NC (FHA|USDA|VA) 1 $2,855,000 $2,855,000 $15,245 7.38%
DOTHAN, AL (FHA|USDA|VA) 11 $2,845,000 $258,636 $4,241 6.99%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 9 $2,545,000 $282,778 $5,946 6.61%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $2,165,000 $2,165,000 $15,123 5.38%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 3 $2,135,000 $711,667 $4,363 6.21%
MONTGOMERY, AL (FHA|USDA|VA) 10 $1,890,000 $189,000 $3,471 7.65%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $900,000 $450,000 $6,018 6.88%
Dayton, TN (FHA|USDA|VA) 2 $900,000 $450,000 $5,014 8.13%
Talladega-Sylacauga, AL (FHA|USDA|VA) 2 $870,000 $435,000 $3,416 7.69%
Jasper, AL (FHA|USDA|VA) 1 $705,000 $705,000 $5,903 5.50%
COLUMBIA, SC (FHA|USDA|VA) 1 $675,000 $675,000 $0 6.20%
Shelbyville, TN (FHA|USDA|VA) 2 $650,000 $325,000 $2,098 7.75%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $565,000 $565,000 $5,238 5.75%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $555,000 $555,000 $3,135 7.50%
TALLAHASSEE, FL (FHA|USDA|VA) 5 $545,000 $109,000 $4,828 7.93%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $495,000 $495,000 $4,258 6.38%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $405,000 $405,000 $10,528 5.63%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $405,000 $405,000 $5,348 6.38%
Athens, TN (FHA|USDA|VA) 2 $360,000 $180,000 $0 7.88%
Ozark, AL (FHA|USDA|VA) 2 $290,000 $145,000 $3,758 7.13%
JOHNSON CITY, TN (FHA|USDA|VA) 2 $270,000 $135,000 $3,157 5.69%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $225,000 $225,000 $4,727 7.00%
Paris, TN (FHA|USDA|VA) 3 $205,000 $68,333 $0 7.50%
DALTON, GA (FHA|USDA|VA) 1 $145,000 $145,000 $4,653 6.38%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $145,000 $145,000 $0 7.00%
Newport, TN (FHA|USDA|VA) 2 $140,000 $70,000 $2,014 7.81%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $105,000 $105,000 $3,284 6.25%
Eufaula, AL-GA (FHA|USDA|VA) 1 $75,000 $75,000 $2,993 6.50%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $65,000 $65,000 $0 7.85%
Smartbank's top markets include Knoxville, Nashville, Sevierville, Chattanooga, and Panama City among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Similar Lenders

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

    SouthEast Bank
    Similarity Rank: 68
    ALABAMA CREDIT UNION
    Similarity Rank: 84
    First Farmers and Merchants Bank
    Similarity Rank: 130
    ENRICHMENT
    Similarity Rank: 230
    Home Federal Bank of Tennessee
    Similarity Rank: 282
    ORNL Federal Credit Union
    Similarity Rank: 432
    Bryant Bank
    Similarity Rank: 440
    US COMMUNITY
    Similarity Rank: 472
    Alabama One Credit Union
    Similarity Rank: 494

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 358 $142,170,000 $397,123 $5,392 6.96%
    HELOC 324 $55,510,000 $171,327 n/a 8.38%
    FHA 35 $8,545,000 $244,143 $8,369 6.23%
    VA 7 $2,495,000 $356,429 $8,807 6.16%
    USDA 4 $570,000 $142,500 $5,271 6.34%

    For 2023, Smartbank's most frequently originated type of loan was Conventional, with 358 originations. Their 2nd most popular type was HELOC, with 324 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 323 $132,165,000 $409,180 $6,235 6.99%
    Other 173 $32,295,000 $186,676 $3,654 8.24%
    Refi 108 $23,800,000 $220,370 $4,902 7.77%
    Home Improvement 81 $11,035,000 $136,235 $1,695 8.30%
    Cash Out Refi 43 $9,995,000 $232,442 $3,814 7.01%

    For 2023, Smartbank's most frequently cited loan purpose was Home Purchase, with 323 originations. The 2nd most popular reason was Other, with 173 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 319 $56,305,000 $176,505 $4,067 8.31%
    30 Year 237 $92,365,000 $389,726 $5,245 6.51%
    30+ year 56 $37,550,000 $670,536 $9,199 7.21%
    5 Year 41 $6,405,000 $156,220 $1,309 7.61%
    1 Year 27 $6,635,000 $245,741 $0 8.42%
    Other 21 $4,505,000 $214,524 $6,179 7.80%
    15 Year 13 $3,915,000 $301,154 $4,073 6.36%
    10 Year 10 $610,000 $61,000 $2,178 7.83%
    3 Year 4 $1,000,000 $250,000 $0 8.10%

    For 2023, Smartbank's most frequently cited loan duration was 20 Year, with 319 originations. The 2nd most popular length was 30 Year, with 237 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 232 $107,590,000 $463,750
    $1k-2k 36 $6,700,000 $186,111
    $2k-3k 26 $7,900,000 $303,846
    $3k-4k 11 $3,715,000 $337,727
    $5k+ 11 $6,855,000 $623,182
    $4k-5k 7 $3,175,000 $453,571

    Smartbank's average total fees were $5,245, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 232 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 272 $47,580,000 $174,926
    7-8% 227 $68,945,000 $303,722
    6-7% 163 $62,655,000 $384,387
    5-6% 63 $30,065,000 $477,222
    <2.5% 3 $45,000 $15,000

    During 2023, Smartbank's average interest rate for loans was 6.51%, while their most frequently originated rate bucket for loans was Over 8%, with 272 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 189 $26,845,000 $142,037 $4,163 7.60%
    $100,000 or less 187 $10,285,000 $55,000 $2,797 8.07%
    $200k-400k 185 $50,265,000 $271,703 $5,821 7.39%
    $400k-600k 87 $42,045,000 $483,276 $6,671 7.28%
    $600k-1MM 53 $39,165,000 $738,962 $6,665 6.99%
    $1MM+ 27 $40,685,000 $1,506,852 $9,496 6.66%

    2023 saw Smartbank place emphasis on $100k-200k loans with 189 originations, totaling $26,845,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 136 $83,870,000 $616,691 $6,387 7.28%
    $150k-250k 131 $43,745,000 $333,931 $6,024 7.57%
    $100k-150k 119 $27,275,000 $229,202 $6,573 7.71%
    $50k-75k 87 $11,805,000 $135,690 $5,056 7.23%
    $75k-100k 86 $14,370,000 $167,093 $5,334 7.57%
    $50k or less 54 $4,260,000 $78,889 $3,261 7.55%

    Smartbank lent most frequently to those with incomes in the $250k+ range, with 136 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% 140 $37,460,000 $267,571 $5,417 7.51%
    30-36% 122 $38,790,000 $317,951 $5,772 7.52%
    <20% 80 $21,960,000 $274,500 $4,935 7.31%
    42% 65 $20,985,000 $322,846 $7,234 7.90%
    38% 37 $10,565,000 $285,541 $6,269 7.59%
    40% 28 $7,630,000 $272,500 $5,008 7.43%
    37% 26 $7,240,000 $278,462 $5,135 7.44%
    41% 26 $9,060,000 $348,462 $5,685 7.35%
    36% 22 $6,570,000 $298,636 $6,093 7.57%
    39% 21 $7,565,000 $360,238 $5,867 7.67%
    43% 19 $6,785,000 $357,105 $5,758 7.22%
    44% 9 $3,185,000 $353,889 $8,495 7.21%
    47% 7 $1,725,000 $246,429 $5,941 6.91%
    45% 7 $3,585,000 $512,143 $7,390 7.34%
    48% 4 $1,040,000 $260,000 $4,018 6.47%
    46% 3 $565,000 $188,333 $5,168 7.21%
    50-60% 3 $665,000 $221,667 $7,864 5.83%
    49% 2 $730,000 $365,000 $7,483 7.81%
    >60% 1 $55,000 $55,000 $0 9.50%

    Smartbank lent most frequently to those with DTI ratios of 20-30%, with 140 originations. The next most common DTI ratio? 30-36%, with 122 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 601 $170,035,000 $282,920 $5,747 7.55%
    Not applicable 48 $11,480,000 $239,167 $0 7.75%
    Not provided 23 $9,865,000 $428,913 $6,081 7.85%
    Asian 22 $6,810,000 $309,545 $5,669 7.00%
    Black 19 $4,385,000 $230,789 $6,247 7.31%
    Asian Indian 8 $3,170,000 $396,250 $6,282 7.59%
    American Indian 6 $2,780,000 $463,333 $5,128 7.15%
    Other Asian 1 $765,000 $765,000 $9,454 7.75%

    Approval Rates

    Total approvals of all applications
    87.40%

    Smartbank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.09%

    Smartbank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 728 $209,290,000 $287,486

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    728 $209,290,000 $287,486

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 163 $26,235,000 $160,951 $4,153 8.08%
    40-60% 96 $24,950,000 $259,896 $4,485 7.48%
    60-80% 160 $70,660,000 $441,625 $6,117 7.32%
    80-100% 171 $77,315,000 $452,135 $6,380 6.78%
    Over 100% 1 $575,000 $575,000 $4,918 7.13%
    Under 20% 137 $9,555,000 $69,745 $2,317 8.20%