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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  • SimulatedRates™
  • Mortgage Calculator

    • 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)

    • 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, 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.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.25% 12/4/24
    30 Year Conventional Refi 6.52% 12/4/24
    30 Year Cash-out Refi 6.58% 12/4/24
    15 Year Conventional Purchase 5.99% 12/4/24
    15 Year Conventional Refi 6.02% 12/4/24
    15 Year Cash-out Refi 6.02% 12/4/24
    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

    310

    Origination Dollar Volume (All Markets)

    $90,230,000

    Awards

    First Piedmont Federal Savings and Loan Association of Gaffney 30 Year Conventional Loans silver
    Show all (1) awards

    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) 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%
    First Piedmont Federal Savings And Loan Association Of Gaffney's top markets include Spartanburg, Gaffney, Greenville, Charlotte, and Seneca among others.

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

    CAROLINA FOOTHILLS
    Similarity Rank: 440
    MIDLAND MORTGAGE CORPORATION
    Similarity Rank: 560
    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 588
    Arthur State Bank
    Similarity Rank: 990
    S. C. STATE FEDERAL CREDIT UNION
    Similarity Rank: 1064
    LOCAL GOVERNMENT FEDERAL CREDIT UNION
    Similarity Rank: 1152
    Coastal Carolina National Bank
    Similarity Rank: 1300
    Community First Bank, Inc.
    Similarity Rank: 1781
    First Piedmont Federal Savings and Loan Association of Gaffney
    Similarity Rank: 1920
    Lakeview Community Capital, LLC
    Similarity Rank: 2040

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 310 $90,230,000 $291,065 $5,424 4.59%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 213 $72,005,000 $338,052 $5,997 4.63%
    Cash Out Refi 80 $14,490,000 $181,125 $3,751 4.66%
    Refi 17 $3,735,000 $219,706 $4,584 3.78%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 216 $72,060,000 $333,611 $5,942 4.62%
    15 Year 46 $9,610,000 $208,913 $3,260 4.28%
    5 Year 21 $4,115,000 $195,952 $1,440 5.01%
    10 Year 13 $2,085,000 $160,385 $3,333 4.50%
    Other 12 $2,000,000 $166,667 $2,376 4.88%
    20 Year 2 $360,000 $180,000 $4,455 3.44%

    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
    $3k-4k 60 $20,050,000 $334,167
    $2k-3k 51 $11,475,000 $225,000
    $1k-2k 47 $6,245,000 $132,872
    $4k-5k 45 $17,655,000 $392,333
    $5k+ 37 $20,915,000 $565,270
    $<1k 27 $2,475,000 $91,667

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 108 $32,860,000 $304,259
    4-5% 106 $28,550,000 $269,340
    3-4% 82 $26,170,000 $319,146
    2.5-3% 12 $2,290,000 $190,833
    <2.5% 2 $360,000 $180,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 120 $34,420,000 $286,833 $5,622 4.56%
    $100k-200k 79 $11,915,000 $150,823 $3,774 4.49%
    $400k-600k 52 $24,670,000 $474,423 $7,590 4.63%
    $100,000 or less 40 $2,630,000 $65,750 $2,480 4.83%
    $600k-1MM 16 $11,260,000 $703,750 $8,519 4.56%
    $1MM+ 3 $5,335,000 $1,778,333 $12,750 5.25%

    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.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 82 $26,830,000 $327,195 $6,220 4.58%
    $50k-75k 56 $10,530,000 $188,036 $4,261 4.62%
    $75k-100k 54 $13,750,000 $254,630 $5,080 4.50%
    $150k-250k 48 $18,720,000 $390,000 $6,412 4.55%
    $50k or less 33 $4,275,000 $129,545 $3,747 4.61%
    $250k+ 11 $7,095,000 $645,000 $7,914 4.33%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 74 $20,780,000 $280,811 $5,288 4.42%
    30-36% 47 $15,435,000 $328,404 $5,878 4.49%
    <20% 35 $5,975,000 $170,714 $4,093 4.35%
    42% 16 $4,860,000 $303,750 $5,402 4.84%
    37% 16 $4,050,000 $253,125 $5,276 4.58%
    38% 14 $3,630,000 $259,286 $5,704 4.63%
    45% 13 $3,895,000 $299,615 $5,374 5.28%
    40% 12 $3,800,000 $316,667 $5,382 4.52%
    39% 12 $4,310,000 $359,167 $6,372 4.67%
    41% 10 $3,500,000 $350,000 $5,926 4.36%
    43% 9 $2,625,000 $291,667 $5,883 4.74%
    44% 7 $1,685,000 $240,714 $4,767 5.18%
    36% 5 $2,325,000 $465,000 $7,540 4.53%
    46% 4 $1,640,000 $410,000 $6,590 4.41%
    48% 4 $900,000 $225,000 $5,550 4.81%
    50-60% 3 $885,000 $295,000 $6,001 4.46%
    >60% 1 $205,000 $205,000 $0 4.63%
    49% 1 $455,000 $455,000 $8,193 5.63%
    47% 1 $245,000 $245,000 $4,809 5.25%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 267 $77,345,000 $289,682 $5,498 4.56%
    Not applicable 25 $8,795,000 $351,800 $0 4.99%
    Black 9 $1,635,000 $181,667 $3,834 4.65%
    Asian 4 $1,320,000 $330,000 $5,491 4.25%
    Not provided 4 $920,000 $230,000 $4,118 4.84%
    American Indian 1 $215,000 $215,000 $4,497 3.88%

    Approval Rates

    Total approvals of all applications
    97.08%

    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
    92.90%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 310 $90,230,000 $291,065

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    310 $90,230,000 $291,065

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $2,840,000 $118,333 $3,467 4.42%
    40-60% 50 $10,800,000 $216,000 $4,610 4.43%
    60-80% 137 $45,915,000 $335,146 $6,032 4.65%
    80-100% 87 $29,125,000 $334,770 $5,917 4.61%
    Under 20% 11 $1,325,000 $120,455 $2,352 5.06%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST GUARANTY MORTGAGE CORP Conventional home mortgage Struggling to pay mortgage 1 100.0%