Clear Mountain Bank Mortgage Rates, Fees & Info
Bruceton Mills, WVLEI: 549300KNZ6E1MM7RQQ04
Tax ID: 55-0131840
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Mortgage 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, Pittsburgh, Fairmont, and Parkersburg among others. We have data for 20 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.58% | 4/21/24 |
| 30 Year Conventional Refi | 6.66% | 4/21/24 |
| 30 Year Cash-out Refi | 6.39% | 4/21/24 |
| 30 Year VA Purchase | 5.90% | 4/21/24 |
| 30 Year USDA Purchase | 6.37% | 4/21/24 |
| 15 Year Conventional Purchase | 6.73% | 4/21/24 |
| 15 Year Conventional Refi | 6.51% | 4/21/24 |
| 15 Year Cash-out Refi | 6.51% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
456Origination Dollar Volume (All Markets)
$130,490,000Awards
Clear Mountain Bank - 2022
Clear Mountain Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 292 | $79,720,000 | $273,014 | $3,578 | 4.46% |
| Outside of Metro Areas | 60 | $22,680,000 | $378,000 | $4,149 | 4.55% |
| Clarksburg, WV (FHA|USDA|VA) | 44 | $10,350,000 | $235,227 | $3,785 | 4.47% |
| PITTSBURGH, PA (FHA|USDA|VA) | 19 | $7,065,000 | $371,842 | $4,682 | 4.53% |
| Fairmont, WV (FHA|USDA|VA) | 17 | $2,625,000 | $154,412 | $3,585 | 5.26% |
| PARKERSBURG-VIENNA, WV (FHA|USDA|VA) | 2 | $1,590,000 | $795,000 | $0 | 4.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $1,275,000 | $425,000 | $5,720 | 5.58% |
| CHARLESTON, WV (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $0 | 5.19% |
| New Castle, PA (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $5,916 | 4.88% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $3,980 | 4.83% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $7,093 | 4.50% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $3,657 | 4.13% |
| Murray, KY (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,409 | 3.75% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,413 | 3.63% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,739 | 4.25% |
| Elkins, WV (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,005 | 4.63% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,465 | 3.50% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,309 | 4.75% |
| WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 4.50% |
| BECKLEY, WV (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.25% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 446 | $128,520,000 | $288,161 | $3,728 | 4.51% |
| USDA | 8 | $1,320,000 | $165,000 | $4,924 | 4.69% |
| VA | 2 | $650,000 | $325,000 | $3,941 | 5.00% |
For 2022, Clear Mountain Bank's most frequently originated type of loan was Conventional, with 446 originations. Their 2nd most popular type was USDA, with 8 originations.
Loan Reason
For 2022, Clear Mountain Bank's most frequently cited loan purpose was Home Purchase, with 331 originations. The 2nd most popular reason was Refi, with 89 originations.
Loan Duration/Length
For 2022, Clear Mountain Bank's most frequently cited loan duration was 30 Year, with 241 originations. The 2nd most popular length was 15 Year, with 74 originations.
Origination Fees/Closing Costs
Clear Mountain Bank's average total fees were $3,630, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 280 originations.
Interest Rates
During 2022, Clear Mountain Bank's average interest rate for loans was 4.36%, while their most frequently originated rate bucket for loans was 4-5%, with 167 originations.
Loan Sizing
2022 saw Clear Mountain Bank place emphasis on $100k-200k loans with 153 originations, totaling $22,485,000 in origination value.
Applicant Income
Clear Mountain Bank lent most frequently to those with incomes in the $100k-150k range, with 91 originations. The second most popular income band? $50k-75k, with 71 originations.
Applicant Debt to Income Ratio
Clear Mountain Bank lent most frequently to those with DTI ratios of 20-30%, with 120 originations. The next most common DTI ratio? 30-36%, with 77 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.70%
Clear Mountain Bank has an average approval rate.
Pick Rate
Approvals leading to origination81.80%
Clear Mountain Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 135.0 | 4 | $400,000 | $100,000 |
| NA | 452 | $130,090,000 | $287,810 |