Benchmark Community Bank Mortgage Rates, Fees & InfoKenbridge, VA
Tax ID: 54-1393963
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewBenchmark Community Bank is a smaller bank specializing in Home Purchase and Refi loans. Benchmark Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Raleigh, Henderson, Durham, Roanoke Rapids, and Richmond among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)
Benchmark Community Bank 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. Benchmark Community Bank is typically a low 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||7.09%||12/10/23|
|30 Year Conventional Refi||7.11%||12/10/23|
|30 Year FHA Purchase||6.27%||12/10/23|
|30 Year VA Purchase||6.27%||12/10/23|
|30 Year USDA Purchase||6.27%||12/10/23|
|15 Year Conventional Purchase||7.77%||12/10/23|
|15 Year Conventional Refi||6.48%||12/10/23|
|15 Year Cash-out Refi||6.48%||12/10/23|
|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.|
Benchmark Community Bank Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Benchmark Community Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$109,735,000
Benchmark Community Bank'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 -0.04%.
Relative Fees (Closing Costs)
Benchmark Community Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,477.
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|
|Outside of Metro Areas||407||$56,395,000||$138,563||$3,008||5.13%|
|RALEIGH-CARY, NC (FHA|USDA|VA)||52||$18,010,000||$346,346||$5,152||4.35%|
|Henderson, NC (FHA|USDA|VA)||56||$13,860,000||$247,500||$3,736||4.59%|
|DURHAM-CHAPEL HILL, NC (FHA|USDA|VA)||25||$5,005,000||$200,200||$3,016||4.60%|
|Roanoke Rapids, NC (FHA|USDA|VA)||11||$3,975,000||$361,364||$5,248||4.65%|
|RICHMOND, VA (FHA|USDA|VA)||8||$2,740,000||$342,500||$598||4.93%|
|MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA)||2||$2,390,000||$1,195,000||$0||4.69%|
|Wilson, NC (FHA|USDA|VA)||12||$2,000,000||$166,667||$0||4.27%|
|FAYETTEVILLE, NC (FHA|USDA|VA)||3||$1,495,000||$498,333||$6,372||4.38%|
|Sanford, NC (FHA|USDA|VA)||1||$685,000||$685,000||$11,620||3.99%|
|GREENVILLE, NC (FHA|USDA|VA)||4||$500,000||$125,000||$4,654||4.60%|
|BURLINGTON, NC (FHA|USDA|VA)||2||$460,000||$230,000||$0||4.47%|
|HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA)||1||$445,000||$445,000||$4,022||3.74%|
|Kill Devil Hills, NC (FHA|USDA|VA)||1||$435,000||$435,000||$0||3.99%|
|WILMINGTON, NC (FHA|USDA|VA)||1||$315,000||$315,000||$0||4.49%|
|Danville, VA (FHA|USDA|VA)||2||$300,000||$150,000||$5,196||5.82%|
|GOLDSBORO, NC (FHA|USDA|VA)||2||$300,000||$150,000||$0||3.99%|
|ROCKY MOUNT, NC (FHA|USDA|VA)||3||$245,000||$81,667||$3,050||4.91%|
|Kinston, NC (FHA|USDA|VA)||1||$145,000||$145,000||$0||4.25%|
|VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA)||1||$35,000||$35,000||$0||4.99%|
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Benchmark Community Bank's most frequently originated type of loan was Conventional, with 595 originations.
For 2022, Benchmark Community Bank's most frequently cited loan purpose was Home Purchase, with 270 originations. The 2nd most popular reason was Refi, with 219 originations.
For 2022, Benchmark Community Bank's most frequently cited loan duration was 5 Year, with 196 originations. The 2nd most popular length was 30 Year, with 131 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Benchmark Community Bank's average total fees were $4,477, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 192 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Benchmark Community Bank's average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 4-5%, with 253 originations.
2022 saw Benchmark Community Bank place emphasis on $100,000 or less loans with 281 originations, totaling $14,875,000 in origination value.
Benchmark Community Bank lent most frequently to those with incomes in the $50k-75k range, with 92 originations. The second most popular income band? $50k or less, with 84 originations.
Applicant Debt to Income Ratio
Benchmark Community Bank lent most frequently to those with DTI ratios of 20-30%, with 116 originations. The next most common DTI ratio? 30-36%, with 79 originations.
Approval RatesTotal approvals of all applications
Benchmark Community Bank has an average approval rate.
Pick RateApprovals leading to origination
Benchmark Community Bank has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|