Peoples Independent Bank Mortgage Rates, Fees & Info
Boaz, ALLEI: 549300IXFXFD6OCKNJ26
Tax ID: 63-0966057
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Mortgage Data
Review & Overview
Peoples Independent Bank is a smaller bank specializing in Refi and Home Purchase loans. Peoples Independent Bank has a high proportion of conventional loans. Their top markets by origination volume include: Albertville, Scottsboro, Gadsden, Fort Payne, and Phoenix among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Peoples Independent 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.
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Originations
69Origination Dollar Volume (All Markets)
$9,455,000Top 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 |
|---|---|---|---|---|---|
| Albertville, AL (FHA|USDA|VA) | 18 | $2,830,000 | $157,222 | $0 | 0.00% |
| Scottsboro, AL (FHA|USDA|VA) | 13 | $2,215,000 | $170,385 | $0 | 0.00% |
| GADSDEN, AL (FHA|USDA|VA) | 13 | $1,855,000 | $142,692 | $0 | 0.00% |
| Fort Payne, AL (FHA|USDA|VA) | 18 | $960,000 | $53,333 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| Sevierville, TN (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $0 | 0.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $145,000 | $145,000 | $0 | 0.00% |
| DECATUR, AL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 69 | $9,455,000 | $137,029 | $0 | 0.00% |
For 2018, Peoples Independent Bank's most frequently originated type of loan was Conventional, with 69 originations.
Loan Reason
For 2018, Peoples Independent Bank's most frequently cited loan purpose was Refi, with 38 originations. The 2nd most popular reason was Home Purchase, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 69 | $9,455,000 | $137,029 | $0 | 0.00% |
For 2018, Peoples Independent Bank's most frequently cited loan duration was Other, with 69 originations.
Loan Sizing
2018 saw Peoples Independent Bank place emphasis on $100,000 or less loans with 43 originations, totaling $1,815,000 in origination value.
Applicant Income
Peoples Independent Bank lent most frequently to those with incomes in the $50k or less range, with 23 originations. The second most popular income band? $150k-250k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 69 | $9,455,000 | $137,029 | $0 | 0.00% |
Peoples Independent Bank lent most frequently to those with DTI ratios of Exempt%, with 69 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.29%
Peoples Independent Bank has a below average approval rate.
Pick Rate
Approvals leading to origination57.97%
Peoples Independent 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 |
|---|---|---|---|
| Exempt | 69 | $9,455,000 | $137,029 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Peoples Home Equity, Inc. | Conventional home mortgage | Closing on a mortgage | 2 | 50.0% |
| Peoples Home Equity, Inc. | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |
| Peoples Home Equity, Inc. | Other type of mortgage | Closing on a mortgage | 1 | 25.0% |