Carolina One Mortgage Rates, Fees & Info
WILMINGTON, DELEI: 549300JA1J2RX1MKI366
Tax ID: 46-2884509
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Mortgage Data
Review & Overview
Carolina One Mortgage is a smaller mortgage company specializing in Home Purchase loans. Carolina One Mortgage has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Charleston, Orangeburg, Columbia, Hilton Head Island, and Sumter among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Carolina One Mortgage 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. Carolina One Mortgage 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 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 | 6.76% | 4/21/24 |
| 30 Year Conventional Refi | 6.72% | 4/21/24 |
| 30 Year Cash-out Refi | 7.11% | 4/21/24 |
| 30 Year FHA Purchase | 7.68% | 4/21/24 |
| 30 Year FHA Refi | 7.97% | 4/21/24 |
| 30 Year VA Purchase | 6.52% | 4/21/24 |
| 30 Year USDA Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 6.23% | 4/21/24 |
| 15 Year Conventional Refi | 6.41% | 4/21/24 |
| 15 Year Cash-out Refi | 6.41% | 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. | ||
Carolina One Mortgage Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
695Origination Dollar Volume (All Markets)
$215,765,000Top 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 |
|---|---|---|---|---|---|
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 632 | $202,340,000 | $320,158 | $6,566 | 4.76% |
| Outside of Metro Areas | 18 | $3,930,000 | $218,333 | $6,881 | 4.83% |
| Orangeburg, SC (FHA|USDA|VA) | 14 | $2,260,000 | $161,429 | $5,696 | 4.94% |
| COLUMBIA, SC (FHA|USDA|VA) | 10 | $2,210,000 | $221,000 | $5,049 | 4.86% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 5 | $1,865,000 | $373,000 | $5,894 | 4.63% |
| SUMTER, SC (FHA|USDA|VA) | 5 | $1,155,000 | $231,000 | $5,342 | 5.08% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $10,118 | 4.42% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $19,215 | 4.99% |
| Georgetown, SC (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $6,758 | 5.44% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $5,068 | 5.00% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,755 | 4.63% |
| Seneca, SC (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $2,600 | 2.88% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against CAROLINA ONE MORTGAGE 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 | 526 | $162,860,000 | $309,620 | $4,956 | 4.69% |
| FHA | 95 | $26,115,000 | $274,895 | $11,439 | 5.13% |
| VA | 74 | $26,790,000 | $362,027 | $11,469 | 4.75% |
For 2022, Carolina One Mortgage's most frequently originated type of loan was Conventional, with 526 originations. Their 2nd most popular type was FHA, with 95 originations.
Loan Reason
For 2022, Carolina One Mortgage's most frequently cited loan purpose was Home Purchase, with 599 originations. The 2nd most popular reason was Cash Out Refi, with 67 originations.
Loan Duration/Length
For 2022, Carolina One Mortgage's most frequently cited loan duration was 30 Year, with 632 originations. The 2nd most popular length was 15 Year, with 26 originations.
Origination Fees/Closing Costs
Carolina One Mortgage's average total fees were $6,934, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 269 originations.
Interest Rates
During 2022, Carolina One Mortgage's average interest rate for loans was 4.98%, while their most frequently originated rate bucket for loans was 5-6%, with 223 originations.
Loan Sizing
2022 saw Carolina One Mortgage place emphasis on $200k-400k loans with 392 originations, totaling $112,060,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 691 | $214,985,000 | $311,122 | $6,513 | 4.75% |
Carolina One Mortgage lent most frequently to those with incomes in the $50k or less range, with 691 originations.
Applicant Debt to Income Ratio
Carolina One Mortgage lent most frequently to those with DTI ratios of 30-36%, with 120 originations. The next most common DTI ratio? 20-30%, with 116 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.12%
Carolina One Mortgage has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination65.32%
Carolina One Mortgage 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 |
|---|---|---|---|
| NA | 695 | $215,765,000 | $310,453 |