Clear Mountain Bank Mortgage Rates, Fees & Info

Bruceton Mills, WV

LEI: 549300KNZ6E1MM7RQQ04

Tax ID: 55-0131840

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Clear Mountain Bank is a smaller bank specializing in Home Purchase and Refi loans. Clear Mountain Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Morgantown, Clarksburg, Fairmont, Pittsburgh, and State College among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Clear Mountain Bank 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. Clear Mountain 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.58% 12/16/24
    30 Year Conventional Refi 6.66% 12/16/24
    30 Year Cash-out Refi 6.39% 12/16/24
    30 Year VA Purchase 5.90% 12/16/24
    30 Year USDA Purchase 6.37% 12/16/24
    15 Year Conventional Purchase 6.73% 12/16/24
    15 Year Conventional Refi 6.51% 12/16/24
    15 Year Cash-out Refi 6.51% 12/16/24
    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.

    Clear Mountain Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Clear Mountain Bank. 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

    484

    Origination Dollar Volume (All Markets)

    $93,000,000

    Employee count

    152

    Awards

    Clear Mountain Bank 30 Year Conventional Loans silver Clear Mountain Bank 30 Year Conventional Loans silver Clear Mountain Bank USDA Loans silver
    Show all (3) awards

    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
    MORGANTOWN, WV (FHA|USDA|VA) 347 $65,685,000 $189,294 $2,921 4.95%
    Outside of Metro Areas 59 $11,715,000 $198,559 $3,251 4.96%
    Clarksburg, WV (FHA|USDA|VA) 37 $8,565,000 $231,486 $3,066 5.15%
    Fairmont, WV (FHA|USDA|VA) 16 $2,400,000 $150,000 $3,091 4.89%
    PITTSBURGH, PA (FHA|USDA|VA) 6 $910,000 $151,667 $3,196 4.92%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $615,000 $615,000 $6,120 4.63%
    WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 5 $495,000 $99,000 $0 5.40%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $440,000 $220,000 $2,853 4.06%
    Georgetown, SC (FHA|USDA|VA) 1 $385,000 $385,000 $3,257 4.63%
    BEND, OR (FHA|USDA|VA) 1 $365,000 $365,000 $1,681 4.88%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $265,000 $265,000 $3,117 4.88%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,482 4.63%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $235,000 $235,000 $3,798 4.50%
    CHARLESTON, WV (FHA|USDA|VA) 2 $180,000 $90,000 $3,326 4.25%
    HARRISONBURG, VA (FHA|USDA|VA) 1 $165,000 $165,000 $2,571 3.75%
    OCALA, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,122 4.50%
    BECKLEY, WV (FHA|USDA|VA) 1 $115,000 $115,000 $2,350 4.50%
    Somerset, PA (FHA|USDA|VA) 1 $55,000 $55,000 $1,501 4.88%
    Clear Mountain Bank's top markets include Morgantown, Clarksburg, Fairmont, Pittsburgh, and State College among others.

    Their top states include:
  • West Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Clear Mountain Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Westmoreland Federal Savings
    Similarity Rank: 12
    TRI BORO
    Similarity Rank: 25
    Commercial Bank and Trust of PA
    Similarity Rank: 57
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 88
    West View Savings Bank
    Similarity Rank: 102
    M. S. Flynn, Inc.
    Similarity Rank: 204
    City National Bank of West Virginia
    Similarity Rank: 228
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 248
    Clear Mountain Bank
    Similarity Rank: 288
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 348

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 473 $91,465,000 $193,372 $2,956 4.97%
    USDA 11 $1,535,000 $139,545 $4,194 4.31%

    For 2018, Clear Mountain Bank's most frequently originated type of loan was Conventional, with 473 originations. Their 2nd most popular type was USDA, with 11 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 280 $53,740,000 $191,929 $3,212 4.91%
    Refi 113 $29,485,000 $260,929 $2,978 4.82%
    Other 38 $2,720,000 $71,579 $2,027 5.82%
    Cash Out Refi 36 $5,910,000 $164,167 $2,974 4.49%
    Home Improvement 17 $1,145,000 $67,353 $1,930 5.71%

    For 2018, Clear Mountain Bank's most frequently cited loan purpose was Home Purchase, with 280 originations. The 2nd most popular reason was Refi, with 113 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 246 $54,150,000 $220,122 $3,162 4.59%
    15 Year 88 $10,410,000 $118,295 $2,352 5.18%
    30+ year 41 $11,175,000 $272,561 $4,102 4.66%
    Other 39 $3,405,000 $87,308 $2,184 5.99%
    20 Year 35 $8,735,000 $249,571 $2,786 4.87%
    10 Year 24 $4,770,000 $198,750 $1,832 5.83%
    5 Year 10 $290,000 $29,000 $1,133 7.22%
    1 Year 1 $65,000 $65,000 $0 5.50%

    For 2018, Clear Mountain Bank's most frequently cited loan duration was 30 Year, with 246 originations. The 2nd most popular length was 15 Year, with 88 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 369 $68,185,000 $184,783
    $1k-2k 34 $7,970,000 $234,412
    $3k-4k 4 $1,040,000 $260,000
    $4k-5k 2 $640,000 $320,000
    $2k-3k 1 $385,000 $385,000
    $5k+ 1 $455,000 $455,000

    Clear Mountain Bank's average total fees were $3,162, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 369 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 309 $66,305,000 $214,579
    5-6% 81 $17,895,000 $220,926
    3-4% 38 $6,110,000 $160,789
    6-7% 27 $1,675,000 $62,037
    7-8% 21 $795,000 $37,857
    Over 8% 8 $220,000 $27,500

    During 2018, Clear Mountain Bank's average interest rate for loans was 4.59%, while their most frequently originated rate bucket for loans was 4-5%, with 309 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 174 $9,970,000 $57,299 $2,223 5.57%
    $100k-200k 145 $21,555,000 $148,655 $2,973 4.61%
    $200k-400k 129 $35,525,000 $275,388 $3,368 4.62%
    $400k-600k 23 $10,665,000 $463,696 $4,444 4.52%
    $600k-1MM 9 $6,295,000 $699,444 $4,834 4.53%
    $1MM+ 4 $8,990,000 $2,247,500 $7,220 5.03%

    2018 saw Clear Mountain Bank place emphasis on $100,000 or less loans with 174 originations, totaling $9,970,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 107 $14,165,000 $132,383 $2,876 4.98%
    $100k-150k 91 $18,025,000 $198,077 $2,934 4.78%
    $50k or less 78 $6,590,000 $84,487 $2,825 5.12%
    $150k-250k 58 $15,610,000 $269,138 $3,344 4.70%
    $75k-100k 57 $8,835,000 $155,000 $2,879 5.10%
    $250k+ 52 $17,460,000 $335,769 $3,273 4.65%

    Clear Mountain Bank lent most frequently to those with incomes in the $50k-75k range, with 107 originations. The second most popular income band? $100k-150k, with 91 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 144 $25,810,000 $179,236 $3,008 4.86%
    30-36% 96 $16,530,000 $172,188 $2,940 4.77%
    <20% 73 $12,515,000 $171,438 $2,797 4.78%
    36% 17 $3,245,000 $190,882 $2,654 5.03%
    40% 17 $2,845,000 $167,353 $3,005 4.91%
    39% 16 $2,630,000 $164,375 $2,744 5.57%
    37% 13 $3,215,000 $247,308 $3,116 4.80%
    41% 12 $2,350,000 $195,833 $3,067 4.84%
    38% 11 $2,065,000 $187,727 $4,599 5.08%
    42% 9 $1,025,000 $113,889 $2,662 5.93%
    46% 5 $1,115,000 $223,000 $2,825 4.43%
    47% 5 $2,385,000 $477,000 $3,773 4.32%
    48% 5 $1,455,000 $291,000 $3,709 4.58%
    43% 4 $590,000 $147,500 $2,024 6.19%
    45% 4 $790,000 $197,500 $3,551 4.44%
    44% 3 $585,000 $195,000 $2,738 4.38%
    49% 2 $390,000 $195,000 $4,177 4.38%
    50-60% 1 $395,000 $395,000 $4,006 5.88%

    Clear Mountain Bank lent most frequently to those with DTI ratios of 20-30%, with 144 originations. The next most common DTI ratio? 30-36%, with 96 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 395 $71,495,000 $181,000 $2,967 4.92%
    Not applicable 35 $10,845,000 $309,857 $0 5.68%
    Not provided 40 $7,040,000 $176,000 $3,020 4.80%
    Black 7 $1,935,000 $276,429 $3,421 4.86%
    Asian 5 $1,295,000 $259,000 $3,926 4.20%
    Native Hawaiian or Islander 1 $245,000 $245,000 $3,057 4.25%
    American Indian 1 $145,000 $145,000 $2,781 4.88%

    Approval Rates

    Total approvals of all applications
    88.74%

    Clear Mountain Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.31%

    Clear Mountain Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    135.0 17 $545,000 $32,059
    NA 467 $92,455,000 $197,976

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 5 $665,000 $133,000
    Multifamily:Site-Built 7 $8,495,000 $1,213,571
    Single Family (1-4 Units):Manufactured 82 $6,510,000 $79,390
    Single Family (1-4 Units):Site-Built 390 $77,330,000 $198,282

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $2,865,000 $86,818 $2,100 5.18%
    40-60% 54 $11,340,000 $210,000 $2,865 4.87%
    60-80% 179 $36,915,000 $206,229 $3,211 4.92%
    80-100% 176 $38,940,000 $221,250 $3,293 4.77%
    Over 100% 7 $1,335,000 $190,714 $3,636 4.61%
    Under 20% 34 $1,590,000 $46,765 $1,081 6.05%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Clear Mountain Bank 102 Venture Dr., Suite 1 Morgantown, WV 26508 Full Service B&M $95,309
    Clear Mountain Bank 1085 Van Voorhis, Suite 150 Morgantown, WV 26505 Full Service B&M $15,059
    Clear Mountain Bank 1101 East State Street Terra Alta, WV 26764 Full Service B&M $50,444
    Clear Mountain Bank 115 North Robert Stone Way Reedsville, WV 26547 Full Service B&M $41,511
    Clear Mountain Bank 12730 Garrett Highway Oakland, MD 21550 Full Service B&M $49,083
    Clear Mountain Bank 160 Morgantown St Bruceton Mills, WV 26525 Full Service B&M $65,795
    Clear Mountain Bank 1851 Earl Core Rd. Morgantown, WV 26505 Full Service Retail $18,398
    Clear Mountain Bank 1889 Earl Core Road Morgantown, WV 26505 Full Service B&M $79,084
    Clear Mountain Bank 30 East Main Street Rowlesburg, WV 26425 Full Service B&M $12,819
    Clear Mountain Bank 320 Southview Dr, Suite 101 Bridgeport, WV 26330 Full Service B&M $5,256
    Clear Mountain Bank 330 East Main Street Kingwood, WV 26537 Full Service B&M $69,531
    Clear Mountain Bank 350 Patteson Drive Morgantown, WV 26505 Full Service Retail $16,248
    Clear Mountain Bank 502 Suncrest Town Center Drive Morgantown, WV 26505 Full Service Retail $5,290

    For 2018, Clear Mountain Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $26,615
    Net interest income $23,238
    Total noninterest income $6,314
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,499
    Trading account gains and fees $0
    Additional Noninterest Income $3,815
    Pre-tax net operating income $10,158
    Securities gains (or losses, -) $3
    Income before extraordinary items $7,787
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,787
    Minority interest net income $0
    Net income $7,787
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,784

    Clear Mountain Bank's gross interest income from loans was $26,615,000.
    Clear Mountain Bank's net interest income from loans was $23,238,000.
    Clear Mountain Bank's fee based income from loans was $2,499,000.
    Clear Mountain Bank's net income from loans was $7,787,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,377
    Provision for credit losses $1,285
    Total noninterest expense $18,109
    Salaries and employee benefits $10,110
    Premises and equipment expense $2,006
    Additional noninterest expense $5,993
    Applicable income taxes $2,374
    Net charge-offs $905
    Cash dividends $1,200

    Clear Mountain Bank's interest expense for loans was $3,377,000.
    Clear Mountain Bank's payroll and benefits expense were $10,110,000.
    Clear Mountain Bank's property, plant and equipment expenses $2,006,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 2.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $526,170
    Deposits held in domestic offices $526,170
    Deposits by Individuals, partnerships, and corporations $503,672
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $20,189
    Deposits by Commercial banks and other depository institutions in U.S. $2,308
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $44,875
    Demand deposits $38,387
    Nontransaction accounts $481,295
    Money market deposit accounts (MMDAs) $67,613
    Other savings deposits (excluding MMDAs) $227,343
    Total time deposits $186,339
    Total time and savings deposits $487,783
    Noninterest-bearing deposits $146,942
    Interest-bearing deposits $379,228
    Retail deposits $491,131
    IRAs and Keogh plan accounts $33,822
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $603,466
    Cash & Balances due from depository institutions $26,654
    Interest-bearing balances $19,334
    Total securities $89,833
    Federal funds sold & reverse repurchase $0
    Net loans and leases $457,786
    Loan and leases loss allowance $7,643
    Trading account assets $0
    Bank premises and fixed assets $13,322
    Other real estate owned $307
    Goodwill and other intangibles $111
    All other assets $15,453

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $603,466
    Total Liabilities $532,253
    Total deposits $526,170
    Interest-bearing deposits $379,228
    Deposits held in domestic offices $526,170
    % insured (estimated) $90
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $6,083

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $457,786
    Loan and leases loss allowance $7,643
    Total loans and leases (domestic) $465,429
    All real estate loans $385,102
    Real estate loans in domestic offices $385,102
    Construction and development loans $42,079
    Residential 1-4 family construction $7,133
    Other construction, all land development and other land $34,946
    Loans secured by nonfarm nonresidential properties $97,329
    Nonfarm nonresidential secured by owner-occupied properties $58,730
    Commercial real estate & other non-farm, non-residential $38,599
    Multifamily residential real estate $10,635
    1-4 family residential loans $233,109
    Farmland loans $1,950
    Loans held in foreign offices $0
    Farm loans $51
    Commercial and industrial loans $46,919
    To non-U.S. addressees $0
    Loans to individuals $31,294
    Credit card loans $2,253
    Related Plans $764
    Consumer Auto Loans $8,578
    Other loans to individuals $19,699
    All other loans & leases $4,001
    Loans to foreign governments and official institutions $0
    Other loans $188
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,400
    Non 1-4 family restructured loans & leases $1,798
    Total loans and leases (foreign) $0

    Clear Mountain Bank had $457,786,000 of loans outstanding in 2018. $385,102,000 of loans were in real estate loans. $42,079,000 of loans were in development loans. $10,635,000 of loans were in multifamily mortgage loans. $233,109,000 of loans were in 1-4 family mortgage loans. $51,000 of loans were in farm loans. $2,253,000 of loans were in credit card loans. $8,578,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 259 $46,720 $180,386
    Nonfarm, nonresidential loans - <$100k 76 $3,748 $49,316
    Nonfarm, nonresidential loans - $100-250k 91 $10,903 $119,813
    Nonfarm, nonresidential loans - $250k-1MM 92 $32,069 $348,576
    Commercial & Industrial, US addressed loans - <$1MM 553 $35,651 $64,468
    Commercial & Industrial, US addressed loans - <$100k 424 $11,303 $26,658
    Commercial & Industrial, US addressed loans - $100-250k 91 $10,199 $112,077
    Commercial & Industrial, US addressed loans - $250k-1MM 38 $14,149 $372,342
    Farmland loans - <$1MM 14 $1,950 $139,286
    Farmland loans - <$100k 3 $59 $19,667
    Farmland loans - $100-250k 5 $300 $60,000
    Farmland loans - $250k-1MM 6 $1,591 $265,167
    Agriculture operations loans - <$1MM 4 $51 $12,750
    Agriculture operations loans - <$100k 4 $51 $12,750