Carolina Farm Credit Aca Mortgage Rates, Fees & Info

Statesville, NC

LEI: 549300KCIGGEKYI5VM19

Tax ID: 56-2148606

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    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 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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    Originations

    190

    Origination Dollar Volume (All Markets)

    $58,660,000

    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) 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%
    Carolina Farm Credit Aca's top markets include Charlotte, Greensboro, Winston, Durham, and Hickory among others.

    Their top states include:
  • North Carolina (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.

    Piedmont Federal Savings Bank
    Similarity Rank: 128
    FINANCIAL RESOURCES FEDERAL CREDIT UNION
    Similarity Rank: 1160
    Arthur State Bank
    Similarity Rank: 1260
    Peoples Bank
    Similarity Rank: 1562
    North State Bank
    Similarity Rank: 1824
    FOUNDERS FEDERAL CREDIT UNION
    Similarity Rank: 2295
    Corporate Investors Mortgage Group, Inc.
    Similarity Rank: 2380
    Stifel Bank and Trust
    Similarity Rank: 2472
    Southern First Bank
    Similarity Rank: 2613
    American National Bank and Trust Company
    Similarity Rank: 2844

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 154 $50,420,000 $327,403 $7,031 6.39%
    Refi 18 $5,500,000 $305,556 $4,381 6.38%
    Home Improvement 13 $1,755,000 $135,000 $3,799 7.01%
    Other 3 $605,000 $201,667 $6,724 6.72%
    Cash Out Refi 2 $380,000 $190,000 $6,086 7.08%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 152 $48,660,000 $320,132 $6,639 6.40%
    30 Year 24 $8,530,000 $355,417 $7,632 6.26%
    20 Year 6 $770,000 $128,333 $4,099 6.65%
    10 Year 3 $135,000 $45,000 $3,158 7.67%
    5 Year 3 $175,000 $58,333 $1,833 7.52%
    15 Year 2 $390,000 $195,000 $6,901 7.48%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 55 $30,005,000 $545,545
    $3k-4k 38 $9,140,000 $240,526
    $4k-5k 36 $11,930,000 $331,389
    $<1k 25 $1,845,000 $73,800
    $2k-3k 23 $4,275,000 $185,870
    $1k-2k 12 $1,410,000 $117,500

    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

    Loan Rate Originations Total Value Average Loan
    6-7% 50 $15,020,000 $300,400
    7-8% 49 $11,385,000 $232,347
    5-6% 46 $17,830,000 $387,609
    4-5% 30 $10,410,000 $347,000
    Over 8% 14 $3,000,000 $214,286
    3-4% 1 $1,015,000 $1,015,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 75 $21,975,000 $293,000 $7,200 6.39%
    $100k-200k 39 $5,575,000 $142,949 $4,925 6.66%
    $100,000 or less 31 $1,715,000 $55,323 $1,657 6.60%
    $400k-600k 31 $15,345,000 $495,000 $8,900 6.27%
    $600k-1MM 9 $6,515,000 $723,889 $11,168 6.43%
    $1MM+ 5 $7,535,000 $1,507,000 $16,149 5.57%

    2022 saw Carolina Farm Credit Aca place emphasis on $200k-400k loans with 75 originations, totaling $21,975,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 58 $16,370,000 $282,241 $6,250 6.26%
    $150k-250k 40 $13,760,000 $344,000 $6,325 6.63%
    $75k-100k 32 $7,010,000 $219,063 $6,282 6.56%
    $50k-75k 28 $4,270,000 $152,500 $5,161 6.59%
    $250k+ 22 $15,140,000 $688,182 $10,026 6.05%
    $50k or less 6 $1,040,000 $173,333 $5,935 6.73%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 45 $12,165,000 $270,333 $5,901 6.38%
    20-30% 39 $10,685,000 $273,974 $6,072 6.36%
    <20% 14 $4,740,000 $338,571 $6,536 5.82%
    40% 12 $4,490,000 $374,167 $8,542 6.48%
    37% 11 $2,875,000 $261,364 $6,389 6.86%
    36% 10 $3,960,000 $396,000 $7,535 6.12%
    41% 8 $3,210,000 $401,250 $7,610 6.82%
    38% 8 $1,840,000 $230,000 $5,980 6.70%
    50-60% 5 $1,625,000 $325,000 $4,994 6.34%
    42% 4 $1,040,000 $260,000 $5,836 7.00%
    39% 4 $1,100,000 $275,000 $7,455 7.50%
    44% 4 $790,000 $197,500 $4,329 6.63%
    >60% 3 $1,515,000 $505,000 $10,246 7.05%
    49% 1 $175,000 $175,000 $6,012 5.75%
    47% 1 $255,000 $255,000 $4,128 7.35%
    43% 1 $185,000 $185,000 $6,727 6.99%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 181 $54,945,000 $303,564 $6,437 6.45%
    Not provided 5 $2,145,000 $429,000 $8,532 6.73%
    Asian 3 $1,185,000 $395,000 $9,644 6.23%
    Black 1 $385,000 $385,000 $8,711 4.75%

    Approval Rates

    Total approvals of all applications
    75.98%

    Carolina Farm Credit Aca has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    25.79%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    190 $58,660,000 $308,737

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $4,745,000 $225,952 $5,102 6.47%
    40-60% 40 $10,520,000 $263,000 $6,399 6.59%
    60-80% 70 $26,180,000 $374,000 $8,236 6.43%
    80-100% 29 $13,785,000 $475,345 $7,934 6.15%
    Under 20% 28 $2,700,000 $96,429 $1,964 6.55%