Carolina Farm Credit Aca Mortgage Rates, Fees & Info
Statesville, NCLEI: 549300KCIGGEKYI5VM19
Tax ID: 56-2148606
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Mortgage Data
Review & Overview
Carolina Farm Credit Aca is a smaller mortgage company specializing in Home Purchase loans. Carolina Farm Credit Aca has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Greensboro, Winston, Durham, and Hickory among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Carolina Farm Credit Aca 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. Carolina Farm Credit Aca 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 relatively high 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 | 8.27% | 12/4/23 |
| 30 Year Conventional Refi | 8.18% | 12/4/23 |
| 30 Year FHA Purchase | 6.27% | 12/4/23 |
| 30 Year USDA Purchase | 6.27% | 12/4/23 |
| 15 Year Conventional Purchase | 7.65% | 12/4/23 |
| 15 Year Conventional Refi | 5.68% | 12/4/23 |
| 15 Year Cash-out Refi | 5.68% | 12/4/23 |
| 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. | ||
Carolina Farm Credit Aca Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Carolina Farm Credit Aca. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
190Origination Dollar Volume (All Markets)
$58,660,000Relative Rate
Carolina Farm Credit Aca's average 30 year fixed mortgage rate was
6.26%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 1.5%.
Relative Fees (Closing Costs)
Carolina Farm Credit Aca's average total fees/closing costs for a 30 year fixed rate
mortgage were $7,632.
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.
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 |
|---|---|---|---|---|---|
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 58 | $15,630,000 | $269,483 | $6,050 | 6.52% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 23 | $7,035,000 | $305,870 | $7,164 | 6.60% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 25 | $6,935,000 | $277,400 | $6,789 | 6.36% |
| Outside of Metro Areas | 15 | $4,355,000 | $290,333 | $5,515 | 6.11% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 15 | $4,325,000 | $288,333 | $5,723 | 6.26% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 16 | $3,930,000 | $245,625 | $6,386 | 6.57% |
| North Wilkesboro, NC (FHA|USDA|VA) | 4 | $2,840,000 | $710,000 | $10,497 | 6.61% |
| Shelby, NC (FHA|USDA|VA) | 9 | $2,765,000 | $307,222 | $7,333 | 6.12% |
| Brevard, NC (FHA|USDA|VA) | 1 | $2,605,000 | $2,605,000 | $23,493 | 5.38% |
| BURLINGTON, NC (FHA|USDA|VA) | 5 | $1,835,000 | $367,000 | $7,469 | 7.13% |
| Mount Airy, NC (FHA|USDA|VA) | 4 | $1,830,000 | $457,500 | $7,265 | 6.49% |
| Albemarle, NC (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $6,922 | 6.79% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $1,015,000 | $1,015,000 | $7,219 | 4.00% |
| ASHEVILLE, NC (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $5,872 | 7.22% |
| Forest City, NC (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $7,471 | 6.20% |
| Rockingham, NC (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $5,257 | 5.98% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $4,379 | 6.58% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,842 | 6.40% |
Similar Lenders
We use machine learning to identify the top lenders compared against Carolina Farm Credit ACA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 624
Similarity Rank: 700
Similarity Rank: 1200
Similarity Rank: 1245
Similarity Rank: 1300
Similarity Rank: 2058
Similarity Rank: 2160
Similarity Rank: 2295
Similarity Rank: 2684
Similarity Rank: 2886
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 190 | $58,660,000 | $308,737 | $6,555 | 6.44% |
For 2022, Carolina Farm Credit Aca's most frequently originated type of loan was Conventional, with 190 originations.
Loan Reason
For 2022, Carolina Farm Credit Aca's most frequently cited loan purpose was Home Purchase, with 154 originations. The 2nd most popular reason was Refi, with 18 originations.
Loan Duration/Length
For 2022, Carolina Farm Credit Aca's most frequently cited loan duration was Other, with 152 originations. The 2nd most popular length was 30 Year, with 24 originations.
Origination Fees/Closing Costs
Carolina Farm Credit Aca's average total fees were $7,632, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 55 originations.
Interest Rates
During 2022, Carolina Farm Credit Aca's average interest rate for loans was 6.26%, while their most frequently originated rate bucket for loans was 6-7%, with 50 originations.
Loan Sizing
2022 saw Carolina Farm Credit Aca place emphasis on $200k-400k loans with 75 originations, totaling $21,975,000 in origination value.
Applicant Income
Carolina Farm Credit Aca lent most frequently to those with incomes in the $100k-150k range, with 58 originations. The second most popular income band? $150k-250k, with 40 originations.
Applicant Debt to Income Ratio
Carolina Farm Credit Aca lent most frequently to those with DTI ratios of 30-36%, with 45 originations. The next most common DTI ratio? 20-30%, with 39 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications75.98%
Carolina Farm Credit Aca has a below average approval rate.
Pick Rate
Approvals leading to origination25.79%
Carolina Farm Credit Aca has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 190 | $58,660,000 | $308,737 |