Anderson Brothers Bank Mortgage Rates, Fees & Info
Mullins, SCLEI: 549300M4GZM7GG3EIV16
Tax ID: 57-0115230
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Mortgage Data
Review & Overview
Anderson Brothers Bank is a smaller bank specializing in Home Purchase loans. Anderson Brothers Bank has a high proportion of conventional loans. Their top markets by origination volume include: Myrtle Beach, Georgetown, Florence, Charleston, and Orangeburg among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Anderson Brothers 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. Anderson Brothers 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 | 7.10% | 4/5/25 |
| 30 Year Conventional Refi | 6.88% | 4/5/25 |
| 30 Year Cash-out Refi | 7.13% | 4/5/25 |
| 30 Year FHA Purchase | 6.72% | 4/5/25 |
| 30 Year FHA Refi | 6.72% | 4/5/25 |
| 30 Year VA Purchase | 6.72% | 4/5/25 |
| 30 Year USDA Purchase | 6.72% | 4/5/25 |
| 15 Year Conventional Purchase | 6.00% | 4/5/25 |
| 15 Year Conventional Refi | 6.00% | 4/5/25 |
| 15 Year Cash-out Refi | 6.00% | 4/5/25 |
| 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. | ||
Anderson Brothers Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
356Origination Dollar Volume (All Markets)
$77,610,000Relative Rate
Anderson Brothers Bank's average 30 year fixed mortgage rate was
6.88%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.33%.
Relative Fees (Closing Costs)
Anderson Brothers Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,091.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 247 | $56,855,000 | $230,182 | $4,821 | 7.92% |
| Georgetown, SC (FHA|USDA|VA) | 11 | $8,255,000 | $750,455 | $4,689 | 7.89% |
| Outside of Metro Areas | 49 | $5,505,000 | $112,347 | $3,125 | 8.80% |
| FLORENCE, SC (FHA|USDA|VA) | 27 | $3,475,000 | $128,704 | $4,412 | 8.29% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 7 | $1,225,000 | $175,000 | $4,247 | 8.36% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $19,094 | 8.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $5,460 | 7.33% |
| Mount Airy, NC (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $3,911 | 7.25% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,897 | 8.50% |
| SUMTER, SC (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $3,217 | 9.13% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $2,631 | 8.75% |
| Lumberton, NC (FHA|USDA|VA) | 3 | $125,000 | $41,667 | $1,850 | 9.17% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,272 | 7.00% |
Their top states include:
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 356 | $77,610,000 | $218,006 | $4,530 | 8.09% |
For 2024, Anderson Brothers Bank's most frequently originated type of loan was Conventional, with 356 originations.
Loan Reason
For 2024, Anderson Brothers Bank's most frequently cited loan purpose was Home Purchase, with 226 originations. The 2nd most popular reason was Refi, with 61 originations.
Loan Duration/Length
For 2024, Anderson Brothers Bank's most frequently cited loan duration was 5 Year, with 202 originations. The 2nd most popular length was 30 Year, with 107 originations.
Origination Fees/Closing Costs
Anderson Brothers Bank's average total fees were $6,091, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 116 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 181 | $32,655,000 | $180,414 |
| 7-8% | 77 | $22,545,000 | $292,792 |
| 6-7% | 71 | $17,435,000 | $245,563 |
| 5-6% | 27 | $4,975,000 | $184,259 |
During 2024, Anderson Brothers Bank's average interest rate for loans was 6.88%, while their most frequently originated rate bucket for loans was Over 8%, with 181 originations.
Loan Sizing
2024 saw Anderson Brothers Bank place emphasis on $100,000 or less loans with 122 originations, totaling $7,370,000 in origination value.
Applicant Income
Anderson Brothers Bank lent most frequently to those with incomes in the $100k-150k range, with 54 originations. The second most popular income band? $75k-100k, with 53 originations.
Applicant Debt to Income Ratio
Anderson Brothers Bank lent most frequently to those with DTI ratios of 20-30%, with 56 originations. The next most common DTI ratio? 30-36%, with 48 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.28%
Anderson Brothers Bank has an average approval rate.
Pick Rate
Approvals leading to origination62.92%
Anderson Brothers Bank 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 |
|---|---|---|---|
| 1000.0 | 1 | $15,000 | $15,000 |
| 1025.0 | 1 | $25,000 | $25,000 |
| 525.0 | 2 | $50,000 | $25,000 |
| NA | 352 | $77,520,000 | $220,227 |