Clear Mountain Bank Mortgage Rates, Fees & Info

Bruceton Mills, WV

LEI: 549300KNZ6E1MM7RQQ04

Tax ID: 55-0131840

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

Jump to:

Mortgage Data

Bank Data

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 Key West among others. We have data for 28 markets. (Some data included below & more in-depth data is available with an active subscription.)

Clear Mountain Bank has an above 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% 3/25/24
30 Year Conventional Refi 6.66% 3/25/24
30 Year Cash-out Refi 6.39% 3/25/24
30 Year VA Purchase 5.90% 3/25/24
30 Year USDA Purchase 6.37% 3/25/24
15 Year Conventional Purchase 6.73% 3/25/24
15 Year Conventional Refi 6.51% 3/25/24
15 Year Cash-out Refi 6.51% 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.

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

563

Origination Dollar Volume (All Markets)

$119,785,000

Employee count

154

Awards

Clear Mountain Bank USDA Loans gold Clear Mountain Bank 30 Year Conventional Loans silver Clear Mountain Bank USDA Loans gold Clear Mountain Bank USDA Loans silver
Show all (4) 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) 390 $82,590,000 $211,769 $3,210 4.60%
Outside of Metro Areas 59 $11,295,000 $191,441 $3,334 4.59%
Clarksburg, WV (FHA|USDA|VA) 45 $9,385,000 $208,556 $3,178 4.52%
Fairmont, WV (FHA|USDA|VA) 23 $4,005,000 $174,130 $3,153 4.53%
PITTSBURGH, PA (FHA|USDA|VA) 13 $3,535,000 $271,923 $3,992 4.60%
Key West, FL (FHA|USDA|VA) 2 $1,670,000 $835,000 $4,482 4.13%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $1,150,000 $575,000 $3,622 3.94%
Jackson, WY-ID (FHA|USDA|VA) 1 $855,000 $855,000 $6,585 4.25%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $535,000 $178,333 $2,681 3.92%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $465,000 $465,000 $3,604 3.13%
AMES, IA (FHA|USDA|VA) 1 $455,000 $455,000 $2,492 4.25%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $365,000 $365,000 $4,772 4.25%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $365,000 $365,000 $3,615 3.88%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $335,000 $335,000 $0 5.15%
BECKLEY, WV (FHA|USDA|VA) 2 $270,000 $135,000 $2,496 4.06%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $265,000 $265,000 $4,012 3.75%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $265,000 $265,000 $0 3.88%
Georgetown, SC (FHA|USDA|VA) 1 $245,000 $245,000 $4,373 5.38%
PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 1 $245,000 $245,000 $3,234 4.25%
Cambridge, OH (FHA|USDA|VA) 1 $215,000 $215,000 $5,364 4.88%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $215,000 $215,000 $2,622 3.99%
CUMBERLAND, MD-WV (FHA|USDA|VA) 2 $210,000 $105,000 $2,507 5.50%
WILMINGTON, NC (FHA|USDA|VA) 1 $205,000 $205,000 $2,908 4.63%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 5 $195,000 $39,000 $0 6.35%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $185,000 $185,000 $2,740 4.88%
Somerset, PA (FHA|USDA|VA) 1 $135,000 $135,000 $3,197 4.13%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $75,000 $75,000 $2,801 4.88%
Elkins, WV (FHA|USDA|VA) 1 $55,000 $55,000 $2,562 3.25%
Clear Mountain Bank's top markets include Morgantown, Clarksburg, Fairmont, Pittsburgh, and Key West among others.

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

    The United Federal Credit Union
    Similarity Rank: 60
    TRI BORO
    Similarity Rank: 70
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 237
    M. S. Flynn, Inc.
    Similarity Rank: 252
    NEW FED MORTGAGE, CORP.
    Similarity Rank: 328
    ARMCO CREDIT UNION
    Similarity Rank: 490

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 542 $116,620,000 $215,166 $3,189 4.62%
    USDA 19 $2,755,000 $145,000 $4,276 3.76%
    VA 2 $410,000 $205,000 $7,375 4.13%

    For 2019, Clear Mountain Bank's most frequently originated type of loan was Conventional, with 542 originations. Their 2nd most popular type was USDA, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 339 $75,415,000 $222,463 $3,469 4.63%
    Refi 129 $30,915,000 $239,651 $3,006 4.37%
    Cash Out Refi 53 $9,645,000 $181,981 $3,085 4.06%
    Other 27 $2,195,000 $81,296 $2,503 5.50%
    Home Improvement 15 $1,615,000 $107,667 $2,690 5.85%

    For 2019, Clear Mountain Bank's most frequently cited loan purpose was Home Purchase, with 339 originations. The 2nd most popular reason was Refi, with 129 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 300 $65,970,000 $219,900 $3,225 4.30%
    15 Year 91 $12,575,000 $138,187 $2,942 4.59%
    20 Year 55 $13,045,000 $237,182 $2,975 4.53%
    30+ year 53 $16,025,000 $302,358 $4,456 4.86%
    Other 32 $4,290,000 $134,063 $2,766 5.79%
    10 Year 24 $7,220,000 $300,833 $2,298 5.37%
    1 Year 4 $550,000 $137,500 $0 6.13%
    5 Year 3 $105,000 $35,000 $1,191 7.13%
    3 Year 1 $5,000 $5,000 $0 9.95%

    For 2019, Clear Mountain Bank's most frequently cited loan duration was 30 Year, with 300 originations. The 2nd most popular length was 15 Year, with 91 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 393 $77,865,000 $198,130
    $1k-2k 79 $20,245,000 $256,266
    $3k-4k 5 $1,285,000 $257,000
    $2k-3k 2 $420,000 $210,000
    $4k-5k 2 $540,000 $270,000
    $5k+ 1 $265,000 $265,000

    Clear Mountain Bank's average total fees were $3,225, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 393 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 219 $58,785,000 $268,425
    3-4% 187 $37,625,000 $201,203
    5-6% 99 $17,435,000 $176,111
    6-7% 31 $2,705,000 $87,258
    2.5-3% 12 $2,730,000 $227,500
    Over 8% 9 $295,000 $32,778
    7-8% 6 $210,000 $35,000

    During 2019, Clear Mountain Bank's average interest rate for loans was 4.30%, while their most frequently originated rate bucket for loans was 4-5%, with 219 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 183 $26,645,000 $145,601 $3,142 4.41%
    $200k-400k 179 $48,375,000 $270,251 $3,476 4.19%
    $100,000 or less 150 $9,460,000 $63,067 $2,618 5.33%
    $400k-600k 35 $15,945,000 $455,571 $3,977 4.36%
    $600k-1MM 9 $6,885,000 $765,000 $4,729 4.62%
    $1MM+ 7 $12,475,000 $1,782,143 $7,416 4.88%

    2019 saw Clear Mountain Bank place emphasis on $100k-200k loans with 183 originations, totaling $26,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 115 $25,125,000 $218,478 $3,203 4.26%
    $50k-75k 115 $16,085,000 $139,870 $3,250 4.50%
    $75k-100k 92 $16,490,000 $179,239 $3,248 4.44%
    $50k or less 73 $6,625,000 $90,753 $2,855 4.94%
    $150k-250k 62 $17,450,000 $281,452 $3,524 4.45%
    $250k+ 50 $21,600,000 $432,000 $3,604 4.39%

    Clear Mountain Bank lent most frequently to those with incomes in the $100k-150k range, with 115 originations. The second most popular income band? $50k-75k, with 115 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 163 $32,245,000 $197,822 $3,175 4.41%
    30-36% 99 $21,375,000 $215,909 $3,507 4.60%
    <20% 66 $12,100,000 $183,333 $3,004 4.24%
    39% 23 $4,205,000 $182,826 $3,228 4.83%
    41% 19 $3,075,000 $161,842 $3,376 4.52%
    38% 18 $4,060,000 $225,556 $3,147 4.64%
    37% 18 $3,260,000 $181,111 $3,027 4.39%
    40% 16 $2,900,000 $181,250 $3,161 4.65%
    36% 14 $4,460,000 $318,571 $3,810 4.34%
    43% 11 $3,535,000 $321,364 $3,448 4.61%
    42% 10 $1,570,000 $157,000 $3,349 3.99%
    44% 10 $1,690,000 $169,000 $3,017 4.16%
    45% 9 $2,525,000 $280,556 $3,923 4.41%
    46% 9 $1,575,000 $175,000 $2,901 4.25%
    47% 8 $1,980,000 $247,500 $3,217 4.17%
    48% 4 $850,000 $212,500 $2,821 3.72%
    49% 2 $240,000 $120,000 $2,608 4.44%
    >60% 2 $510,000 $255,000 $2,955 4.94%

    Clear Mountain Bank lent most frequently to those with DTI ratios of 20-30%, with 163 originations. The next most common DTI ratio? 30-36%, with 99 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 364 $69,850,000 $191,896 $3,166 4.52%
    Not provided 142 $32,720,000 $230,423 $3,409 4.33%
    Not applicable 47 $14,245,000 $303,085 $2,581 5.91%
    Asian 6 $2,010,000 $335,000 $4,368 4.29%
    Black 3 $655,000 $218,333 $2,907 4.75%
    American Indian 1 $305,000 $305,000 $3,221 3.75%

    Approval Rates

    Total approvals of all applications
    92.05%

    Clear Mountain Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.77%

    Clear Mountain Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    135.0 7 $195,000 $27,857
    NA 556 $119,590,000 $215,090

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 4 $570,000 $142,500
    Multifamily:Site-Built 8 $9,690,000 $1,211,250
    Single Family (1-4 Units):Manufactured 76 $6,270,000 $82,500
    Single Family (1-4 Units):Site-Built 475 $103,255,000 $217,379

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 29 $3,145,000 $108,448 $2,833 4.82%
    40-60% 68 $10,580,000 $155,588 $3,200 4.57%
    60-80% 204 $50,050,000 $245,343 $3,352 4.50%
    80-100% 239 $53,775,000 $225,000 $3,328 4.51%
    Over 100% 4 $780,000 $195,000 $8,418 4.97%
    Under 20% 16 $990,000 $61,875 $1,319 6.22%

    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 $98,446
    Clear Mountain Bank 1085 Van Voorhis, Suite 150 Morgantown, WV 26505 Full Service B&M $15,122
    Clear Mountain Bank 1101 East State Street Terra Alta, WV 26764 Full Service B&M $51,202
    Clear Mountain Bank 115 North Robert Stone Way Reedsville, WV 26547 Full Service B&M $45,491
    Clear Mountain Bank 12730 Garrett Highway Oakland, MD 21550 Full Service B&M $53,138
    Clear Mountain Bank 15 Sweetbrier Lane Bridgeport, WV 26330 Full Service B&M $12,204
    Clear Mountain Bank 160 Morgantown St Bruceton Mills, WV 26525 Full Service B&M $69,946
    Clear Mountain Bank 1851 Earl Core Rd. Morgantown, WV 26505 Full Service Retail $19,688
    Clear Mountain Bank 1889 Earl Core Road Morgantown, WV 26505 Full Service B&M $81,365
    Clear Mountain Bank 30 East Main Street Rowlesburg, WV 26425 Full Service B&M $13,434
    Clear Mountain Bank 330 East Main Street Kingwood, WV 26537 Full Service B&M $74,335
    Clear Mountain Bank 350 Patteson Drive Morgantown, WV 26505 Full Service Retail $16,986
    Clear Mountain Bank 502 Suncrest Town Center Drive Morgantown, WV 26505 Full Service Retail $5,627

    For 2019, Clear Mountain Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $29,200
    Net interest income $24,380
    Total noninterest income $7,200
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,370
    Trading account gains and fees $0
    Additional Noninterest Income $4,830
    Pre-tax net operating income $10,883
    Securities gains (or losses, -) $0
    Income before extraordinary items $8,473
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,473
    Minority interest net income $0
    Net income $8,473
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,473

    Clear Mountain Bank's gross interest income from loans was $29,200,000.
    Clear Mountain Bank's net interest income from loans was $24,380,000.
    Clear Mountain Bank's fee based income from loans was $2,370,000.
    Clear Mountain Bank's net income from loans was $8,473,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,820
    Provision for credit losses $961
    Total noninterest expense $19,736
    Salaries and employee benefits $10,565
    Premises and equipment expense $2,134
    Additional noninterest expense $7,037
    Applicable income taxes $2,410
    Net charge-offs $709
    Cash dividends $1,125

    Clear Mountain Bank's interest expense for loans was $4,820,000.
    Clear Mountain Bank's payroll and benefits expense were $10,565,000.
    Clear Mountain Bank's property, plant and equipment expenses $2,134,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    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 $563,629
    Deposits held in domestic offices $563,629
    Deposits by Individuals, partnerships, and corporations $537,516
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $25,435
    Deposits by Commercial banks and other depository institutions in U.S. $677
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $49,778
    Demand deposits $41,837
    Nontransaction accounts $513,851
    Money market deposit accounts (MMDAs) $69,876
    Other savings deposits (excluding MMDAs) $256,865
    Total time deposits $187,109
    Total time and savings deposits $521,792
    Noninterest-bearing deposits $160,088
    Interest-bearing deposits $403,541
    Retail deposits $527,840
    IRAs and Keogh plan accounts $34,541
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $648,623
    Cash & Balances due from depository institutions $24,980
    Interest-bearing balances $17,012
    Total securities $110,554
    Federal funds sold & reverse repurchase $0
    Net loans and leases $479,857
    Loan and leases loss allowance $7,895
    Trading account assets $0
    Bank premises and fixed assets $14,359
    Other real estate owned $283
    Goodwill and other intangibles $138
    All other assets $18,452

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $648,623
    Total Liabilities $569,201
    Total deposits $563,629
    Interest-bearing deposits $403,541
    Deposits held in domestic offices $563,629
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $5,572

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $479,857
    Loan and leases loss allowance $7,895
    Total loans and leases (domestic) $487,752
    All real estate loans $400,860
    Real estate loans in domestic offices $400,860
    Construction and development loans $44,322
    Residential 1-4 family construction $9,609
    Other construction, all land development and other land $34,713
    Loans secured by nonfarm nonresidential properties $103,312
    Nonfarm nonresidential secured by owner-occupied properties $59,449
    Commercial real estate & other non-farm, non-residential $43,863
    Multifamily residential real estate $17,069
    1-4 family residential loans $234,281
    Farmland loans $1,876
    Loans held in foreign offices $0
    Farm loans $31
    Commercial and industrial loans $54,735
    To non-U.S. addressees $0
    Loans to individuals $29,878
    Credit card loans $2,363
    Related Plans $652
    Consumer Auto Loans $7,782
    Other loans to individuals $19,081
    All other loans & leases $4,320
    Loans to foreign governments and official institutions $0
    Other loans $164
    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 $1,684
    Non 1-4 family restructured loans & leases $1,086
    Total loans and leases (foreign) $0

    Clear Mountain Bank had $479,857,000 of loans outstanding in 2019. $400,860,000 of loans were in real estate loans. $44,322,000 of loans were in development loans. $17,069,000 of loans were in multifamily mortgage loans. $234,281,000 of loans were in 1-4 family mortgage loans. $31,000 of loans were in farm loans. $2,363,000 of loans were in credit card loans. $7,782,000 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 252 $49,535 $196,567
    Nonfarm, nonresidential loans - <$100k 66 $3,318 $50,273
    Nonfarm, nonresidential loans - $100-250k 94 $11,889 $126,479
    Nonfarm, nonresidential loans - $250k-1MM 92 $34,328 $373,130
    Commercial & Industrial, US addressed loans - <$1MM 620 $37,791 $60,953
    Commercial & Industrial, US addressed loans - <$100k 485 $13,578 $27,996
    Commercial & Industrial, US addressed loans - $100-250k 93 $10,336 $111,140
    Commercial & Industrial, US addressed loans - $250k-1MM 42 $13,877 $330,405
    Farmland loans - <$1MM 14 $1,876 $134,000
    Farmland loans - <$100k 3 $53 $17,667
    Farmland loans - $100-250k 5 $297 $59,400
    Farmland loans - $250k-1MM 6 $1,526 $254,333
    Agriculture operations loans - <$1MM 2 $31 $15,500
    Agriculture operations loans - <$100k 2 $31 $15,500