Spratt Savings And Loan Assoc. Mortgage Rates, Fees & Info
Chester, SCLEI: 549300JUQ0GXK2YJEK02
Tax ID: 57-0252520
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Mortgage Data
Review & Overview
Spratt Savings And Loan Assoc. is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Spratt Savings And Loan Assoc. has a high proportion of conventional loans. Spratt Savings And Loan Assoc. has a low ratio of conventional loans. Their top two markets are Charlotte and Columbia .Spratt Savings And Loan Assoc. has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
36Origination Dollar Volume (All Markets)
$5,390,000Top 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 |
|---|---|---|---|---|---|
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 32 | $4,840,000 | $151,250 | $0 | 0.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 4 | $550,000 | $137,500 | $2,164 | 3.50% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 35 | $5,355,000 | $153,000 | $0 | 0.00% |
| Conventional | 1 | $35,000 | $35,000 | $2,164 | 3.50% |
For 2018, Spratt Savings And Loan Assoc.'s most frequently originated type of loan was Conventional, with 35 originations. Their 2nd most popular type was Conventional, with 1 originations.
Loan Reason
For 2018, Spratt Savings And Loan Assoc.'s most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Cash Out Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 35 | $5,355,000 | $153,000 | $0 | 0.00% |
| 15 Year | 1 | $35,000 | $35,000 | $2,164 | 3.50% |
For 2018, Spratt Savings And Loan Assoc.'s most frequently cited loan duration was Other, with 35 originations. The 2nd most popular length was 15 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $35,000 | $35,000 |
Spratt Savings And Loan Assoc.'s average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1 | $35,000 | $35,000 |
During 2018, Spratt Savings And Loan Assoc.'s average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 1 originations.
Loan Sizing
2018 saw Spratt Savings And Loan Assoc. place emphasis on $100,000 or less loans with 14 originations, totaling $660,000 in origination value.
Applicant Income
Spratt Savings And Loan Assoc. lent most frequently to those with incomes in the $50k or less range, with 11 originations. The second most popular income band? $50k-75k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 35 | $5,355,000 | $153,000 | $0 | 0.00% |
| <20% | 1 | $35,000 | $35,000 | $2,164 | 3.50% |
Spratt Savings And Loan Assoc. lent most frequently to those with DTI ratios of Exempt%, with 35 originations. The next most common DTI ratio? <20%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.63%
Spratt Savings And Loan Assoc. has a below average approval rate.
Pick Rate
Approvals leading to origination88.89%
Spratt Savings And Loan Assoc. has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 35 | $5,355,000 | $153,000 |
| NA | 1 | $35,000 | $35,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 4 | $240,000 | $60,000 |
| Single Family (1-4 Units):Site-Built | 32 | $5,150,000 | $160,938 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 60-80% | 1 | $35,000 | $35,000 | $2,164 | 3.50% |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Shapiro, DiCaro & Barak, LLC | Other type of mortgage | Trouble during payment process | 2 | 100.0% |