First Piedmont Federal Savings And Loan Association Of Gaffney Mortgage Rates, Fees & InfoGaffney, SC
Tax ID: 57-0226455
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewFirst Piedmont Federal Savings And Loan Association Of Gaffney is a smaller mortgage company specializing in loans. First Piedmont Federal Savings And Loan Association Of Gaffney has a high proportion of conventional loans. Their top markets by origination volume include: Spartanburg, Gaffney, Greenville, Charlotte, and Seneca among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)
First Piedmont Federal Savings And Loan Association Of Gaffney has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. First Piedmont Federal Savings And Loan Association Of Gaffney 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.25%||3/27/23|
|30 Year Conventional Refi||6.52%||3/27/23|
|30 Year Cash-out Refi||6.58%||3/27/23|
|15 Year Conventional Purchase||5.99%||3/27/23|
|15 Year Conventional Refi||6.02%||3/27/23|
|15 Year Cash-out Refi||6.02%||3/27/23|
|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.|
Origination Dollar Volume (All Markets)$90,230,000
First Piedmont Federal Savings And Loan Association Of Gaffney's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.14%.
Relative Fees (Closing Costs)
First Piedmont Federal Savings And Loan Association Of Gaffney's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,942.
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 $4,750.
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|
|SPARTANBURG, SC (FHA|USDA|VA)||178||$55,440,000||$311,461||$5,669||4.60%|
|Gaffney, SC (FHA|USDA|VA)||93||$19,855,000||$213,495||$4,422||4.59%|
|GREENVILLE-ANDERSON, SC (FHA|USDA|VA)||32||$12,750,000||$398,438||$7,103||4.65%|
|CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA)||1||$635,000||$635,000||$6,643||4.00%|
|Seneca, SC (FHA|USDA|VA)||1||$605,000||$605,000||$10,172||3.88%|
|COLUMBIA, SC (FHA|USDA|VA)||3||$605,000||$201,667||$5,664||4.75%|
|Outside of Metro Areas||1||$305,000||$305,000||$0||4.50%|
|Union, SC (FHA|USDA|VA)||1||$35,000||$35,000||$1,685||3.88%|
Their top states include:
We use machine learning to identify the top lenders compared against First Piedmont Federal Savings and Loan Association of Gaffney based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, First Piedmont Federal Savings And Loan Association Of Gaffney's most frequently originated type of loan was Conventional, with 310 originations.
|Loan Reason||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
|Cash Out Refi||80||$14,490,000||$181,125||$3,751||4.66%|
For 2022, First Piedmont Federal Savings And Loan Association Of Gaffney's most frequently cited loan purpose was Home Purchase, with 213 originations. The 2nd most popular reason was Cash Out Refi, with 80 originations.
For 2022, First Piedmont Federal Savings And Loan Association Of Gaffney's most frequently cited loan duration was 30 Year, with 216 originations. The 2nd most popular length was 15 Year, with 46 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
First Piedmont Federal Savings And Loan Association Of Gaffney's average total fees were $5,942, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 60 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, First Piedmont Federal Savings And Loan Association Of Gaffney's average interest rate for loans was 4.62%, while their most frequently originated rate bucket for loans was 5-6%, with 108 originations.
2022 saw First Piedmont Federal Savings And Loan Association Of Gaffney place emphasis on $200k-400k loans with 120 originations, totaling $34,420,000 in origination value.
First Piedmont Federal Savings And Loan Association Of Gaffney lent most frequently to those with incomes in the $100k-150k range, with 82 originations. The second most popular income band? $50k-75k, with 56 originations.
Applicant Debt to Income Ratio
First Piedmont Federal Savings And Loan Association Of Gaffney lent most frequently to those with DTI ratios of 20-30%, with 74 originations. The next most common DTI ratio? 30-36%, with 47 originations.
Approval RatesTotal approvals of all applications
First Piedmont Federal Savings And Loan Association Of Gaffney has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
First Piedmont Federal Savings And Loan Association Of Gaffney has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2022 CPFB Complaints||% of Total Issues|
|FIRST GUARANTY MORTGAGE CORP||Conventional home mortgage||Struggling to pay mortgage||1||100.0%|