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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    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Refi and Home Purchase 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 Crestview among others. We have data for 25 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.

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    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

    1,171

    Origination Dollar Volume (All Markets)

    $295,575,000

    Employee count

    152 Show all (6) 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) 814 $210,160,000 $258,182 $3,007 3.21%
    Outside of Metro Areas 103 $27,105,000 $263,155 $3,244 3.31%
    Clarksburg, WV (FHA|USDA|VA) 106 $23,880,000 $225,283 $2,969 3.15%
    Fairmont, WV (FHA|USDA|VA) 73 $14,755,000 $202,123 $3,184 3.01%
    PITTSBURGH, PA (FHA|USDA|VA) 30 $6,890,000 $229,667 $3,511 2.90%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,765,000 $1,765,000 $9,851 3.75%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 9 $1,505,000 $167,222 $2,239 2.85%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $1,335,000 $445,000 $3,201 2.88%
    RALEIGH-CARY, NC (FHA|USDA|VA) 2 $860,000 $430,000 $3,202 4.50%
    RICHMOND, VA (FHA|USDA|VA) 2 $860,000 $430,000 $3,201 3.69%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 2 $790,000 $395,000 $3,424 3.50%
    CHARLESTON, WV (FHA|USDA|VA) 5 $785,000 $157,000 $2,797 3.45%
    Georgetown, SC (FHA|USDA|VA) 2 $730,000 $365,000 $3,252 3.43%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $630,000 $315,000 $2,894 3.19%
    Somerset, PA (FHA|USDA|VA) 3 $555,000 $185,000 $3,228 2.13%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 2 $470,000 $235,000 $2,304 2.75%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $415,000 $415,000 $3,029 3.99%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $375,000 $375,000 $3,042 3.75%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $365,000 $365,000 $4,711 3.75%
    POCATELLO, ID (FHA|USDA|VA) 1 $355,000 $355,000 $4,251 2.63%
    WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 3 $325,000 $108,333 $2,861 3.67%
    BECKLEY, WV (FHA|USDA|VA) 2 $300,000 $150,000 $2,171 3.06%
    PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 1 $205,000 $205,000 $2,863 2.63%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $95,000 $95,000 $2,699 2.38%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.25%
    Clear Mountain Bank's top markets include Morgantown, Clarksburg, Fairmont, Pittsburgh, and Crestview among others.

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

    M. S. Flynn, Inc.
    Similarity Rank: 236
    TRI BORO
    Similarity Rank: 264
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 456
    First Community Bank
    Similarity Rank: 630
    NEW FED MORTGAGE, CORP.
    Similarity Rank: 644
    ARMCO CREDIT UNION
    Similarity Rank: 645
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 670
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 742
    PRINCETON FINANCIAL LLC
    Similarity Rank: 754
    Standard Bank, PaSB
    Similarity Rank: 756

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,158 $293,310,000 $253,290 $3,029 3.20%
    USDA 10 $1,540,000 $154,000 $4,420 2.96%
    VA 3 $725,000 $241,667 $7,479 2.79%

    For 2020, Clear Mountain Bank's most frequently originated type of loan was Conventional, with 1,158 originations. Their 2nd most popular type was USDA, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 545 $145,395,000 $266,780 $2,808 2.93%
    Home Purchase 417 $102,105,000 $244,856 $3,434 3.64%
    Cash Out Refi 203 $47,165,000 $232,340 $3,031 2.93%
    Home Improvement 5 $875,000 $175,000 $0 3.98%
    Other 1 $35,000 $35,000 $1,596 8.25%

    For 2020, Clear Mountain Bank's most frequently cited loan purpose was Refi, with 545 originations. The 2nd most popular reason was Home Purchase, with 417 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 634 $160,760,000 $253,565 $3,097 3.10%
    15 Year 290 $73,090,000 $252,034 $2,790 2.85%
    20 Year 109 $27,105,000 $248,670 $2,835 3.33%
    30+ year 59 $17,265,000 $292,627 $4,217 4.39%
    Other 42 $12,080,000 $287,619 $3,112 4.13%
    10 Year 30 $4,440,000 $148,000 $2,617 3.65%
    5 Year 4 $220,000 $55,000 $2,042 6.38%
    1 Year 3 $615,000 $205,000 $0 4.88%

    For 2020, Clear Mountain Bank's most frequently cited loan duration was 30 Year, with 634 originations. The 2nd most popular length was 15 Year, with 290 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 951 $229,025,000 $240,825
    $1k-2k 100 $23,980,000 $239,800
    $2k-3k 7 $2,115,000 $302,143
    $4k-5k 2 $730,000 $365,000
    $3k-4k 1 $195,000 $195,000

    Clear Mountain Bank's average total fees were $3,097, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 951 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 374 $88,410,000 $236,390
    3-4% 338 $100,000,000 $295,858
    <2.5% 284 $65,400,000 $230,282
    4-5% 131 $37,875,000 $289,122
    5-6% 28 $3,070,000 $109,643
    7-8% 6 $420,000 $70,000
    6-7% 5 $195,000 $39,000
    Over 8% 5 $205,000 $41,000

    During 2020, Clear Mountain Bank's average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was 2.5-3%, with 374 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 491 $135,225,000 $275,407 $3,143 3.02%
    $100k-200k 424 $63,990,000 $150,920 $2,848 3.10%
    $100,000 or less 130 $8,600,000 $66,154 $2,495 4.07%
    $400k-600k 101 $48,085,000 $476,089 $3,610 3.06%
    $1MM+ 14 $31,900,000 $2,278,571 $6,359 3.99%
    $600k-1MM 11 $7,775,000 $706,818 $5,368 4.09%

    2020 saw Clear Mountain Bank place emphasis on $200k-400k loans with 491 originations, totaling $135,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 262 $62,800,000 $239,695 $3,046 3.03%
    $50k-75k 221 $36,265,000 $164,095 $2,925 3.25%
    $150k-250k 200 $59,260,000 $296,300 $3,241 3.01%
    $75k-100k 191 $39,235,000 $205,419 $2,979 3.15%
    $250k+ 110 $46,930,000 $426,636 $3,431 3.10%
    $50k or less 98 $11,560,000 $117,959 $2,839 3.42%

    Clear Mountain Bank lent most frequently to those with incomes in the $100k-150k range, with 262 originations. The second most popular income band? $50k-75k, with 221 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 405 $92,895,000 $229,370 $3,008 3.09%
    30-36% 216 $53,840,000 $249,259 $3,096 3.33%
    <20% 205 $47,985,000 $234,073 $2,955 2.87%
    37% 34 $7,530,000 $221,471 $3,101 3.36%
    38% 30 $8,240,000 $274,667 $3,308 3.32%
    39% 30 $6,350,000 $211,667 $3,068 2.96%
    36% 29 $7,035,000 $242,586 $3,101 3.43%
    44% 22 $6,000,000 $272,727 $3,342 3.25%
    41% 21 $4,255,000 $202,619 $3,326 3.07%
    42% 20 $4,890,000 $244,500 $3,447 3.34%
    43% 18 $3,810,000 $211,667 $2,855 3.03%
    40% 17 $3,835,000 $225,588 $3,178 3.11%
    48% 14 $3,460,000 $247,143 $3,069 2.98%
    45% 10 $1,810,000 $181,000 $3,014 3.05%
    49% 8 $1,890,000 $236,250 $2,825 2.61%
    47% 7 $1,785,000 $255,000 $2,902 2.77%
    46% 7 $2,035,000 $290,714 $3,204 2.87%
    >60% 2 $1,520,000 $760,000 $4,336 3.95%

    Clear Mountain Bank lent most frequently to those with DTI ratios of 20-30%, with 405 originations. The next most common DTI ratio? 30-36%, with 216 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 539 $126,675,000 $235,019 $3,056 3.24%
    Not provided 545 $126,375,000 $231,881 $3,045 3.02%
    Not applicable 64 $34,640,000 $541,250 $0 4.27%
    Asian 13 $4,015,000 $308,846 $3,069 2.71%
    Black 7 $2,215,000 $316,429 $3,474 4.09%
    American Indian 2 $1,390,000 $695,000 $3,734 3.33%
    Asian Indian 1 $265,000 $265,000 $3,219 3.00%

    Approval Rates

    Total approvals of all applications
    95.81%

    Clear Mountain Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    87.96%

    Clear Mountain Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    135.0 10 $320,000 $32,000
    NA 1,161 $295,255,000 $254,311

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $1,505,000 $1,505,000
    Multifamily:Site-Built 26 $23,190,000 $891,923
    Single Family (1-4 Units):Manufactured 83 $8,605,000 $103,675
    Single Family (1-4 Units):Site-Built 1,061 $262,275,000 $247,196

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 49 $9,075,000 $185,204 $2,732 3.28%
    40-60% 206 $43,820,000 $212,718 $2,834 2.84%
    60-80% 493 $135,885,000 $275,629 $3,036 3.14%
    80-100% 400 $103,510,000 $258,775 $3,268 3.33%
    Over 100% 9 $1,425,000 $158,333 $6,703 4.64%
    Under 20% 14 $1,860,000 $132,857 $1,311 4.96%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Clear Mortgage Capital, Inc. Conventional home mortgage Closing on a mortgage 1 100.0%

    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 $131,438
    Clear Mountain Bank 1085 Van Voorhis, Suite 150 Morgantown, WV 26505 Full Service B&M $24,312
    Clear Mountain Bank 1101 East State Street Terra Alta, WV 26764 Full Service B&M $53,712
    Clear Mountain Bank 115 North Robert Stone Way Reedsville, WV 26547 Full Service B&M $49,741
    Clear Mountain Bank 12730 Garrett Highway Oakland, MD 21550 Full Service B&M $56,959
    Clear Mountain Bank 15 Sweetbrier Lane Bridgeport, WV 26330 Full Service B&M $15,983
    Clear Mountain Bank 160 Morgantown St Bruceton Mills, WV 26525 Full Service B&M $76,304
    Clear Mountain Bank 1851 Earl Core Rd. Morgantown, WV 26505 Full Service Retail $21,496
    Clear Mountain Bank 1889 Earl Core Road Morgantown, WV 26505 Full Service B&M $89,413
    Clear Mountain Bank 30 East Main Street Rowlesburg, WV 26425 Full Service B&M $13,940
    Clear Mountain Bank 330 East Main Street Kingwood, WV 26537 Full Service B&M $88,236
    Clear Mountain Bank 350 Patteson Drive Morgantown, WV 26505 Full Service Retail $18,433
    Clear Mountain Bank 502 Suncrest Town Center Drive Morgantown, WV 26505 Full Service Retail $7,321

    For 2020, Clear Mountain Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $29,443
    Net interest income $25,519
    Total noninterest income $10,146
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,713
    Trading account gains and fees $0
    Additional Noninterest Income $8,433
    Pre-tax net operating income $12,861
    Securities gains (or losses, -) $0
    Income before extraordinary items $10,041
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,041
    Minority interest net income $0
    Net income $10,041
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,041

    Clear Mountain Bank's gross interest income from loans was $29,443,000.
    Clear Mountain Bank's net interest income from loans was $25,519,000.
    Clear Mountain Bank's fee based income from loans was $1,713,000.
    Clear Mountain Bank's net income from loans was $10,041,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,924
    Provision for credit losses $1,855
    Total noninterest expense $20,949
    Salaries and employee benefits $11,681
    Premises and equipment expense $2,261
    Additional noninterest expense $7,007
    Applicable income taxes $2,820
    Net charge-offs $254
    Cash dividends $1,060

    Clear Mountain Bank's interest expense for loans was $3,924,000.
    Clear Mountain Bank's payroll and benefits expense were $11,681,000.
    Clear Mountain Bank's property, plant and equipment expenses $2,261,000.

    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 0.0%
    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 0.1%
    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 $669,714
    Deposits held in domestic offices $669,714
    Deposits by Individuals, partnerships, and corporations $625,327
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $43,624
    Deposits by Commercial banks and other depository institutions in U.S. $762
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $67,375
    Demand deposits $57,393
    Nontransaction accounts $602,338
    Money market deposit accounts (MMDAs) $84,016
    Other savings deposits (excluding MMDAs) $339,101
    Total time deposits $179,221
    Total time and savings deposits $612,320
    Noninterest-bearing deposits $222,689
    Interest-bearing deposits $447,025
    Retail deposits $632,913
    IRAs and Keogh plan accounts $34,076
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $767,161
    Cash & Balances due from depository institutions $44,108
    Interest-bearing balances $35,546
    Total securities $145,063
    Federal funds sold & reverse repurchase $0
    Net loans and leases $538,429
    Loan and leases loss allowance $9,496
    Trading account assets $0
    Bank premises and fixed assets $13,944
    Other real estate owned $110
    Goodwill and other intangibles $717
    All other assets $24,790

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $767,161
    Total Liabilities $674,872
    Total deposits $669,714
    Interest-bearing deposits $447,025
    Deposits held in domestic offices $669,714
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $5,158

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $538,429
    Loan and leases loss allowance $9,496
    Total loans and leases (domestic) $547,925
    All real estate loans $422,662
    Real estate loans in domestic offices $422,662
    Construction and development loans $52,795
    Residential 1-4 family construction $11,715
    Other construction, all land development and other land $41,080
    Loans secured by nonfarm nonresidential properties $113,502
    Nonfarm nonresidential secured by owner-occupied properties $64,289
    Commercial real estate & other non-farm, non-residential $49,213
    Multifamily residential real estate $19,042
    1-4 family residential loans $235,913
    Farmland loans $1,410
    Loans held in foreign offices $0
    Farm loans $19
    Commercial and industrial loans $95,019
    To non-U.S. addressees $0
    Loans to individuals $25,882
    Credit card loans $2,054
    Related Plans $583
    Consumer Auto Loans $6,418
    Other loans to individuals $16,827
    All other loans & leases $4,343
    Loans to foreign governments and official institutions $0
    Other loans $126
    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 $2,672
    Non 1-4 family restructured loans & leases $691
    Total loans and leases (foreign) $0

    Clear Mountain Bank had $538,429,000 of loans outstanding in 2020. $422,662,000 of loans were in real estate loans. $52,795,000 of loans were in development loans. $19,042,000 of loans were in multifamily mortgage loans. $235,913,000 of loans were in 1-4 family mortgage loans. $19,000 of loans were in farm loans. $2,054,000 of loans were in credit card loans. $6,418,000 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 253 $51,740 $204,506
    Nonfarm, nonresidential loans - <$100k 61 $2,965 $48,607
    Nonfarm, nonresidential loans - $100-250k 90 $11,307 $125,633
    Nonfarm, nonresidential loans - $250k-1MM 102 $37,468 $367,333
    Commercial & Industrial, US addressed loans - <$1MM 1,307 $73,303 $56,085
    Commercial & Industrial, US addressed loans - <$100k 1,073 $27,302 $25,445
    Commercial & Industrial, US addressed loans - $100-250k 168 $20,465 $121,815
    Commercial & Industrial, US addressed loans - $250k-1MM 66 $25,536 $386,909
    Farmland loans - <$1MM 11 $1,410 $128,182
    Farmland loans - <$100k 3 $92 $30,667
    Farmland loans - $100-250k 2 $180 $90,000
    Farmland loans - $250k-1MM 6 $1,138 $189,667
    Agriculture operations loans - <$1MM 2 $19 $9,500
    Agriculture operations loans - <$100k 2 $19 $9,500