Jackson County Bank Mortgage Rates, Fees & Info
Seymour, INLEI: 549300HIDQ8IRRU12455
Tax ID: 35-0418300
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Mortgage Data
Review & Overview
Jackson County Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Jackson County Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Columbus, Seymour, Indianapolis, Bloomington, and North Vernon among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Jackson County 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. Jackson County 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 3.56% | 4/21/24 |
| 30 Year Conventional Purchase | 7.18% | 4/21/24 |
| 30 Year Conventional Refi | 6.75% | 4/21/24 |
| 30 Year Cash-out Refi | 7.16% | 4/21/24 |
| 30 Year USDA Purchase | 7.51% | 4/21/24 |
| 15 Year Conventional Purchase | 6.19% | 4/21/24 |
| 15 Year Conventional Refi | 6.19% | 4/21/24 |
| 15 Year Cash-out Refi | 6.19% | 4/21/24 |
| 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. | ||
Jackson County Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
761Origination Dollar Volume (All Markets)
$125,455,000Awards
Jackson County Bank - 2022
Jackson County 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 |
|---|---|---|---|---|---|
| COLUMBUS, IN (FHA|USDA|VA) | 209 | $39,395,000 | $188,493 | $2,932 | 4.13% |
| Seymour, IN (FHA|USDA|VA) | 256 | $34,360,000 | $134,219 | $2,777 | 3.63% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 88 | $19,790,000 | $224,886 | $2,941 | 3.97% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 33 | $9,405,000 | $285,000 | $4,446 | 3.91% |
| North Vernon, IN (FHA|USDA|VA) | 70 | $8,260,000 | $118,000 | $2,535 | 4.29% |
| Bedford, IN (FHA|USDA|VA) | 63 | $7,655,000 | $121,508 | $3,123 | 3.53% |
| Outside of Metro Areas | 6 | $1,210,000 | $201,667 | $2,696 | 4.83% |
| LOUISVILLE, KY (FHA|USDA|VA) | 10 | $1,190,000 | $119,000 | $3,602 | 3.78% |
| Scottsburg, IN (FHA|USDA|VA) | 9 | $1,115,000 | $123,889 | $2,598 | 3.26% |
| Greensburg, IN (FHA|USDA|VA) | 5 | $795,000 | $159,000 | $2,307 | 3.89% |
| Washington, IN (FHA|USDA|VA) | 4 | $690,000 | $172,500 | $5,334 | 4.43% |
| MUNCIE, IN (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $0 | 5.43% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $3,192 | 6.44% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,470 | 5.75% |
| Madison, IN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 2.99% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 2.49% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,457 | 5.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Jackson County Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 268
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 391 | $88,905,000 | $227,379 | $2,876 | 5.09% |
| HELOC | 359 | $35,035,000 | $97,591 | n/a | 2.57% |
| USDA | 11 | $1,515,000 | $137,727 | $3,685 | 4.82% |
For 2022, Jackson County Bank's most frequently originated type of loan was Conventional, with 391 originations. Their 2nd most popular type was HELOC, with 359 originations.
Loan Reason
For 2022, Jackson County Bank's most frequently cited loan purpose was Other, with 249 originations. The 2nd most popular reason was Home Purchase, with 248 originations.
Loan Duration/Length
For 2022, Jackson County Bank's most frequently cited loan duration was 20 Year, with 370 originations. The 2nd most popular length was 30 Year, with 285 originations.
Origination Fees/Closing Costs
Jackson County Bank's average total fees were $2,992, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 186 originations.
Interest Rates
During 2022, Jackson County Bank's average interest rate for loans was 5.26%, while their most frequently originated rate bucket for loans was <2.5%, with 232 originations.
Loan Sizing
2022 saw Jackson County Bank place emphasis on $100,000 or less loans with 312 originations, totaling $16,980,000 in origination value.
Applicant Income
Jackson County Bank lent most frequently to those with incomes in the $50k-75k range, with 200 originations. The second most popular income band? $50k or less, with 155 originations.
Applicant Debt to Income Ratio
Jackson County Bank lent most frequently to those with DTI ratios of 20-30%, with 179 originations. The next most common DTI ratio? 30-36%, with 116 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.85%
Jackson County Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.30%
Jackson County Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 761 | $125,455,000 | $164,855 |