Carolina Farm Credit Aca Mortgage Rates, Fees & Info

Statesville, NC

LEI: 549300KCIGGEKYI5VM19

Tax ID: 56-2148606

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

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Mortgage Data

Review & Overview

Carolina Farm Credit Aca is a smaller mortgage company specializing in Home Purchase and Refi loans. Carolina Farm Credit Aca has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Greensboro, Durham, Winston, and Hickory among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

Carolina Farm Credit Aca has a below 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.

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 8.27% 3/25/24
30 Year Conventional Refi 8.18% 3/25/24
30 Year FHA Purchase 6.27% 3/25/24
30 Year USDA Purchase 6.27% 3/25/24
15 Year Conventional Purchase 7.65% 3/25/24
15 Year Conventional Refi 5.68% 3/25/24
15 Year Cash-out Refi 5.68% 3/25/24
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.

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™ 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

158

Origination Dollar Volume (All Markets)

$36,250,000

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) 39 $9,045,000 $231,923 $4,876 6.06%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 26 $6,620,000 $254,615 $4,513 5.90%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 20 $4,740,000 $237,000 $4,885 5.93%
WINSTON-SALEM, NC (FHA|USDA|VA) 13 $3,735,000 $287,308 $5,161 6.24%
Outside of Metro Areas 18 $3,380,000 $187,778 $4,639 5.91%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 17 $2,715,000 $159,706 $3,943 5.96%
BURLINGTON, NC (FHA|USDA|VA) 10 $2,270,000 $227,000 $2,627 6.02%
Albemarle, NC (FHA|USDA|VA) 5 $1,005,000 $201,000 $4,655 5.69%
ASHEVILLE, NC (FHA|USDA|VA) 2 $860,000 $430,000 $6,334 6.01%
Mount Airy, NC (FHA|USDA|VA) 2 $530,000 $265,000 $5,003 6.53%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $465,000 $465,000 $7,816 5.70%
Shelby, NC (FHA|USDA|VA) 2 $340,000 $170,000 $5,083 5.60%
Sanford, NC (FHA|USDA|VA) 1 $265,000 $265,000 $6,438 5.95%
SAVANNAH, GA (FHA|USDA|VA) 1 $255,000 $255,000 $4,796 5.95%
Rockingham, NC (FHA|USDA|VA) 1 $25,000 $25,000 $2,693 6.85%
Carolina Farm Credit Aca's top markets include Charlotte, Greensboro, Durham, Winston, and Hickory among others.

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

    Whitley Mortgage Associates, Inc.
    Similarity Rank: 258
    Belmont Savings Bank, SSB
    Similarity Rank: 390
    Roxboro Savings Bank SSB
    Similarity Rank: 567
    NewDominion Bank
    Similarity Rank: 602
    HOMESERVICES LENDING, LLC
    Similarity Rank: 884
    FOUNDERS FEDERAL CREDIT UNION
    Similarity Rank: 1419
    Towne Mortgage of the Carolinas, LLC
    Similarity Rank: 1664
    Amerisouth Mortgage Company
    Similarity Rank: 1794
    United Bank
    Similarity Rank: 1938

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 158 $36,250,000 $229,430 $4,601 5.99%

    For 2018, Carolina Farm Credit Aca's most frequently originated type of loan was Conventional, with 158 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 100 $23,550,000 $235,500 $5,073 6.01%
    Refi 33 $7,295,000 $221,061 $3,541 5.87%
    Home Improvement 17 $2,995,000 $176,176 $3,413 6.04%
    Other 7 $2,255,000 $322,143 $5,056 6.16%
    Cash Out Refi 1 $155,000 $155,000 $4,553 5.50%

    For 2018, Carolina Farm Credit Aca's most frequently cited loan purpose was Home Purchase, with 100 originations. The 2nd most popular reason was Refi, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 81 $20,695,000 $255,494 $4,530 5.98%
    30 Year 35 $8,725,000 $249,286 $5,267 6.06%
    20 Year 14 $2,420,000 $172,857 $4,461 6.21%
    15 Year 14 $2,100,000 $150,000 $3,963 5.81%
    10 Year 9 $1,525,000 $169,444 $2,847 5.74%
    1 Year 2 $320,000 $160,000 $9,037 6.25%
    5 Year 2 $190,000 $95,000 $4,704 6.13%
    30+ year 1 $275,000 $275,000 $6,346 5.25%

    For 2018, Carolina Farm Credit Aca's most frequently cited loan duration was Other, with 81 originations. The 2nd most popular length was 30 Year, with 35 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 47 $8,245,000 $175,426
    $3k-4k 36 $9,690,000 $269,167
    $<1k 22 $2,720,000 $123,636
    $1k-2k 21 $3,525,000 $167,857
    $4k-5k 13 $5,315,000 $408,846
    $5k+ 10 $5,800,000 $580,000

    Carolina Farm Credit Aca's average total fees were $5,267, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 47 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 93 $22,805,000 $245,215
    6-7% 57 $12,125,000 $212,719
    4-5% 5 $895,000 $179,000
    7-8% 3 $425,000 $141,667

    During 2018, Carolina Farm Credit Aca's average interest rate for loans was 6.06%, while their most frequently originated rate bucket for loans was 5-6%, with 93 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 61 $17,015,000 $278,934 $5,211 5.93%
    $100k-200k 46 $7,320,000 $159,130 $4,249 5.89%
    $100,000 or less 35 $2,065,000 $59,000 $2,254 6.22%
    $400k-600k 9 $4,555,000 $506,111 $7,480 5.99%
    $600k-1MM 6 $4,120,000 $686,667 $6,452 6.03%
    $1MM+ 1 $1,175,000 $1,175,000 $12,645 5.55%

    2018 saw Carolina Farm Credit Aca place emphasis on $200k-400k loans with 61 originations, totaling $17,015,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 37 $7,815,000 $211,216 $4,449 6.04%
    $150k-250k 34 $8,870,000 $260,882 $5,212 6.08%
    $75k-100k 27 $5,915,000 $219,074 $4,293 5.82%
    $250k+ 26 $8,580,000 $330,000 $4,929 5.94%
    $50k-75k 17 $3,115,000 $183,235 $4,619 6.10%
    $50k or less 17 $1,955,000 $115,000 $3,875 5.92%

    Carolina Farm Credit Aca lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $150k-250k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 47 $10,825,000 $230,319 $5,030 5.96%
    30-36% 30 $5,940,000 $198,000 $4,172 5.88%
    <20% 25 $4,385,000 $175,400 $3,905 5.94%
    50-60% 5 $845,000 $169,000 $2,977 5.98%
    39% 4 $1,520,000 $380,000 $4,970 5.73%
    37% 4 $840,000 $210,000 $4,280 6.09%
    45% 4 $1,200,000 $300,000 $5,341 6.06%
    44% 3 $785,000 $261,667 $7,240 6.36%
    41% 3 $445,000 $148,333 $3,666 6.27%
    43% 2 $360,000 $180,000 $4,958 5.66%
    46% 2 $320,000 $160,000 $4,501 6.25%
    >60% 1 $275,000 $275,000 $6,566 6.88%
    47% 1 $155,000 $155,000 $4,553 5.50%
    48% 1 $405,000 $405,000 $4,228 5.95%
    40% 1 $565,000 $565,000 $6,995 6.11%
    42% 1 $35,000 $35,000 $0 6.50%

    Carolina Farm Credit Aca lent most frequently to those with DTI ratios of 20-30%, with 47 originations. The next most common DTI ratio? 30-36%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 154 $35,660,000 $231,558 $4,597 5.99%
    Black 2 $300,000 $150,000 $6,465 6.37%
    Asian 2 $290,000 $145,000 $3,958 5.83%

    Approval Rates

    Total approvals of all applications
    63.70%

    Carolina Farm Credit Aca has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    29.11%

    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 158 $36,250,000 $229,430

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $850,000 $106,250
    Single Family (1-4 Units):Site-Built 150 $35,400,000 $236,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $2,725,000 $160,294 $3,775 5.89%
    40-60% 30 $5,530,000 $184,333 $4,439 6.14%
    60-80% 66 $17,770,000 $269,242 $5,081 5.96%
    80-100% 29 $8,995,000 $310,172 $5,454 5.89%
    Over 100% 3 $695,000 $231,667 $5,693 6.11%
    Under 20% 13 $535,000 $41,154 $884 6.11%