First Piedmont Federal Savings And Loan Association Of Gaffney Mortgage Rates, Fees & Info

Gaffney, SC

LEI: 549300JH8TVR84H1BL45

Tax ID: 57-0226455

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

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    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    First Piedmont Federal Savings And Loan Association Of Gaffney is a smaller mortgage company specializing in Home Purchase 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, Union, and Columbia among others. We have data for 7 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.

    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 6.25% 4/21/24
    30 Year Conventional Refi 6.52% 4/21/24
    30 Year Cash-out Refi 6.58% 4/21/24
    15 Year Conventional Purchase 5.99% 4/21/24
    15 Year Conventional Refi 6.02% 4/21/24
    15 Year Cash-out Refi 6.02% 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.

    First Piedmont Federal Savings And Loan Association Of Gaffney Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from First Piedmont Federal Savings And Loan Association Of Gaffney. 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

    263

    Origination Dollar Volume (All Markets)

    $58,645,000

    Employee count

    81

    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
    SPARTANBURG, SC (FHA|USDA|VA) 159 $37,995,000 $238,962 $5,053 4.36%
    Gaffney, SC (FHA|USDA|VA) 78 $12,150,000 $155,769 $3,544 4.42%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 21 $7,355,000 $350,238 $6,406 4.47%
    Union, SC (FHA|USDA|VA) 2 $510,000 $255,000 $5,372 4.50%
    COLUMBIA, SC (FHA|USDA|VA) 1 $285,000 $285,000 $5,155 3.38%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $185,000 $185,000 $4,461 4.88%
    Seneca, SC (FHA|USDA|VA) 1 $165,000 $165,000 $3,241 3.63%
    First Piedmont Federal Savings And Loan Association Of Gaffney's top markets include Spartanburg, Gaffney, Greenville, Union, and Columbia among others.

    Their top states include:
  • South Carolina (FHA|USDA|VA)

    • Similar Lenders

    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.

    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 402
    BLMC, INC
    Similarity Rank: 1266
    Coastal Carolina National Bank
    Similarity Rank: 1328
    S. C. STATE FEDERAL CREDIT UNION
    Similarity Rank: 1598
    First Community Bank
    Similarity Rank: 2015
    Amerisouth Mortgage Company
    Similarity Rank: 2121
    First Piedmont Federal Savings and Loan Association of Gaffney
    Similarity Rank: 2226
    CPM Federal Credit Union
    Similarity Rank: 2715
    Allen Tate Mortgage Partners, LLC
    Similarity Rank: 3429
    Carolina Financial Corporation
    Similarity Rank: 4060

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 263 $58,645,000 $222,985 $4,703 4.38%

    For 2019, First Piedmont Federal Savings And Loan Association Of Gaffney's most frequently originated type of loan was Conventional, with 263 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 202 $50,060,000 $247,822 $5,165 4.49%
    Cash Out Refi 40 $4,910,000 $122,750 $2,792 4.00%
    Refi 19 $3,465,000 $182,368 $3,759 3.99%
    Home Improvement 1 $55,000 $55,000 $0 5.50%
    Other 1 $155,000 $155,000 $0 5.00%

    For 2019, First Piedmont Federal Savings And Loan Association Of Gaffney's most frequently cited loan purpose was Home Purchase, with 202 originations. The 2nd most popular reason was Cash Out Refi, with 40 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 192 $48,700,000 $253,646 $5,053 4.38%
    15 Year 34 $5,410,000 $159,118 $3,405 3.75%
    5 Year 12 $1,020,000 $85,000 $868 5.10%
    Other 8 $670,000 $83,750 $1,915 5.39%
    10 Year 8 $1,120,000 $140,000 $1,371 5.61%
    20 Year 7 $1,665,000 $237,857 $4,652 3.68%
    3 Year 1 $15,000 $15,000 $0 5.25%
    1 Year 1 $45,000 $45,000 $0 4.75%

    For 2019, First Piedmont Federal Savings And Loan Association Of Gaffney's most frequently cited loan duration was 30 Year, with 192 originations. The 2nd most popular length was 15 Year, with 34 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 73 $19,305,000 $264,452
    $2k-3k 71 $14,145,000 $199,225
    $1k-2k 37 $3,885,000 $105,000
    $4k-5k 33 $12,045,000 $365,000
    $5k+ 11 $5,515,000 $501,364
    $<1k 10 $570,000 $57,000

    First Piedmont Federal Savings And Loan Association Of Gaffney's average total fees were $5,053, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 73 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 146 $37,030,000 $253,630
    3-4% 69 $14,225,000 $206,159
    5-6% 36 $5,360,000 $148,889
    2.5-3% 12 $2,030,000 $169,167

    During 2019, First Piedmont Federal Savings And Loan Association Of Gaffney's average interest rate for loans was 4.38%, while their most frequently originated rate bucket for loans was 4-5%, with 146 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 109 $30,115,000 $276,284 $5,364 4.31%
    $100k-200k 89 $13,495,000 $151,629 $3,904 4.34%
    $100,000 or less 40 $2,560,000 $64,000 $2,203 4.58%
    $400k-600k 22 $10,290,000 $467,727 $7,124 4.55%
    $600k-1MM 3 $2,185,000 $728,333 $8,184 4.54%

    2019 saw First Piedmont Federal Savings And Loan Association Of Gaffney place emphasis on $200k-400k loans with 109 originations, totaling $30,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 60 $15,430,000 $257,167 $5,257 4.41%
    $50k-75k 55 $9,705,000 $176,455 $4,270 4.42%
    $75k-100k 48 $10,600,000 $220,833 $4,679 4.24%
    $50k or less 41 $5,415,000 $132,073 $3,478 4.27%
    $150k-250k 33 $12,135,000 $367,727 $6,072 4.35%
    $250k+ 8 $3,050,000 $381,250 $6,378 4.27%

    First Piedmont Federal Savings And Loan Association Of Gaffney lent most frequently to those with incomes in the $100k-150k range, with 60 originations. The second most popular income band? $50k-75k, with 55 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 59 $13,215,000 $223,983 $4,746 4.21%
    30-36% 43 $10,805,000 $251,279 $4,787 4.36%
    <20% 33 $5,045,000 $152,879 $3,882 4.02%
    41% 13 $3,745,000 $288,077 $5,158 4.48%
    39% 12 $2,880,000 $240,000 $4,661 4.17%
    36% 10 $2,530,000 $253,000 $5,085 4.33%
    45% 10 $3,300,000 $330,000 $6,009 4.53%
    38% 9 $2,335,000 $259,444 $4,778 4.47%
    40% 7 $2,395,000 $342,143 $5,908 4.38%
    37% 7 $1,365,000 $195,000 $4,552 4.39%
    43% 7 $1,835,000 $262,143 $5,246 4.59%
    44% 6 $1,520,000 $253,333 $5,168 4.29%
    48% 5 $1,275,000 $255,000 $5,434 4.78%
    50-60% 5 $865,000 $173,000 $3,777 4.55%
    49% 5 $915,000 $183,000 $4,318 4.45%
    42% 4 $650,000 $162,500 $4,122 4.88%
    47% 4 $760,000 $190,000 $4,546 4.34%
    >60% 3 $375,000 $125,000 $0 5.58%
    46% 1 $315,000 $315,000 $5,663 4.75%

    First Piedmont Federal Savings And Loan Association Of Gaffney lent most frequently to those with DTI ratios of 20-30%, with 59 originations. The next most common DTI ratio? 30-36%, with 43 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 244 $55,350,000 $226,844 $4,707 4.32%
    Not applicable 13 $1,755,000 $135,000 $0 5.43%
    Black 3 $965,000 $321,667 $5,603 4.46%
    Asian 2 $480,000 $240,000 $4,741 4.44%
    Other Asian 1 $95,000 $95,000 $1,041 4.75%

    Approval Rates

    Total approvals of all applications
    95.58%

    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 Rate

    Approvals leading to origination
    93.54%

    First Piedmont Federal Savings And Loan Association Of Gaffney has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 263 $58,645,000 $222,985

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $435,000 $435,000
    Single Family (1-4 Units):Site-Built 262 $58,210,000 $222,176

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $1,155,000 $77,000 $2,708 4.43%
    40-60% 32 $6,210,000 $194,063 $3,966 4.29%
    60-80% 125 $28,015,000 $224,120 $4,776 4.41%
    80-100% 86 $22,500,000 $261,628 $5,230 4.35%
    Over 100% 2 $560,000 $280,000 $0 5.63%
    Under 20% 3 $205,000 $68,333 $2,995 4.08%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    First Technology Federal Credit Union Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    First Technology Federal Credit Union Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    First Technology Federal Credit Union Conventional home mortgage Trouble during payment process 4 57.1%
    First Technology Federal Credit Union Home equity loan or line of credit (HELOC) Trouble during payment process 1 14.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Piedmont Federal Savings and Loan Association of Gaffney 1229 W Floyd Baker Blvd Gaffney, SC 29341 Full Service B&M $118,111
    First Piedmont Federal Savings and Loan Association of Gaffney 1510 John B White Blvd. Spartanburg, SC 29301 Full Service B&M $38,404
    First Piedmont Federal Savings and Loan Association of Gaffney 210 S Limestone St Gaffney, SC 29340 Full Service B&M $54,922
    First Piedmont Federal Savings and Loan Association of Gaffney 2101 Boiling Springs Rd Boiling Springs, SC 29316 Full Service B&M $33,925
    First Piedmont Federal Savings and Loan Association of Gaffney 503 N Granard St Gaffney, SC 29340 Full Service B&M $36,345
    First Piedmont Federal Savings and Loan Association of Gaffney 901 E Main St Spartanburg, SC 29304 Full Service B&M $17,970

    For 2019, First Piedmont Federal Savings And Loan Association Of Gaffney had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,604
    Net interest income $17,577
    Total noninterest income $4,797
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,162
    Trading account gains and fees $0
    Additional Noninterest Income $3,635
    Pre-tax net operating income $9,764
    Securities gains (or losses, -) $41
    Income before extraordinary items $7,386
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,386
    Minority interest net income $0
    Net income $7,386
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,353

    First Piedmont Federal Savings And Loan Association Of Gaffney's gross interest income from loans was $17,604,000.
    First Piedmont Federal Savings And Loan Association Of Gaffney's net interest income from loans was $17,577,000.
    First Piedmont Federal Savings And Loan Association Of Gaffney's fee based income from loans was $1,162,000.
    First Piedmont Federal Savings And Loan Association Of Gaffney's net income from loans was $7,386,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $27
    Provision for credit losses $168
    Total noninterest expense $12,442
    Salaries and employee benefits $6,831
    Premises and equipment expense $1,044
    Additional noninterest expense $4,567
    Applicable income taxes $2,419
    Net charge-offs $5
    Cash dividends $0

    First Piedmont Federal Savings And Loan Association Of Gaffney's interest expense for loans was $27,000.
    First Piedmont Federal Savings And Loan Association Of Gaffney's payroll and benefits expense were $6,831,000.
    First Piedmont Federal Savings And Loan Association Of Gaffney's property, plant and equipment expenses $1,044,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $296,568
    Deposits held in domestic offices $296,568
    Deposits by Individuals, partnerships, and corporations $296,568
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $147,824
    Demand deposits $107,435
    Nontransaction accounts $148,744
    Money market deposit accounts (MMDAs) $23,085
    Other savings deposits (excluding MMDAs) $71,250
    Total time deposits $54,409
    Total time and savings deposits $189,133
    Noninterest-bearing deposits $109,130
    Interest-bearing deposits $187,438
    Retail deposits $287,040
    IRAs and Keogh plan accounts $20,469
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $418,917
    Cash & Balances due from depository institutions $95,357
    Interest-bearing balances $92,170
    Total securities $3,302
    Federal funds sold & reverse repurchase $0
    Net loans and leases $300,347
    Loan and leases loss allowance $2,112
    Trading account assets $0
    Bank premises and fixed assets $5,722
    Other real estate owned $37
    Goodwill and other intangibles $140
    All other assets $14,012

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $418,917
    Total Liabilities $301,478
    Total deposits $296,568
    Interest-bearing deposits $187,438
    Deposits held in domestic offices $296,568
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $4,910

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $300,347
    Loan and leases loss allowance $2,112
    Total loans and leases (domestic) $302,459
    All real estate loans $288,664
    Real estate loans in domestic offices $288,664
    Construction and development loans $47,466
    Residential 1-4 family construction $23,003
    Other construction, all land development and other land $24,463
    Loans secured by nonfarm nonresidential properties $33,672
    Nonfarm nonresidential secured by owner-occupied properties $11,015
    Commercial real estate & other non-farm, non-residential $22,657
    Multifamily residential real estate $4,751
    1-4 family residential loans $202,775
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $9,716
    To non-U.S. addressees $0
    Loans to individuals $4,079
    Credit card loans $0
    Related Plans $229
    Consumer Auto Loans $2,865
    Other loans to individuals $985
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $528
    Non 1-4 family restructured loans & leases $528
    Total loans and leases (foreign) $0

    First Piedmont Federal Savings and Loan Association of Gaffney had $300,347,000 of loans outstanding in 2019. $288,664,000 of loans were in real estate loans. $47,466,000 of loans were in development loans. $4,751,000 of loans were in multifamily mortgage loans. $202,775,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,865,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 122 $24,045 $197,090
    Nonfarm, nonresidential loans - <$100k 31 $1,440 $46,452
    Nonfarm, nonresidential loans - $100-250k 39 $4,836 $124,000
    Nonfarm, nonresidential loans - $250k-1MM 52 $17,769 $341,712
    Commercial & Industrial, US addressed loans - <$1MM 112 $6,136 $54,786
    Commercial & Industrial, US addressed loans - <$100k 67 $1,846 $27,552
    Commercial & Industrial, US addressed loans - $100-250k 32 $1,834 $57,313
    Commercial & Industrial, US addressed loans - $250k-1MM 13 $2,456 $188,923