Colfax Banking Company Mortgage Rates, Fees & Info
Colfax, LALEI: 549300MEK4ETDCVHFB89
Tax ID: 72-0156480
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Colfax Banking Company is a smaller bank specializing in Refi and Home Purchase loans. Colfax Banking Company has a high proportion of conventional loans. Their top markets by origination volume include: Alexandria, Shreveport, Monroe, and New Orleans among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Colfax Banking Company 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.
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Originations
109Origination Dollar Volume (All Markets)
$10,785,000Top 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 |
|---|---|---|---|---|---|
| ALEXANDRIA, LA (FHA|USDA|VA) | 102 | $9,480,000 | $92,941 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $1,060,000 | $265,000 | $0 | 0.00% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| MONROE, LA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 109 | $10,785,000 | $98,945 | $0 | 0.00% |
For 2023, Colfax Banking Company's most frequently originated type of loan was Conventional, with 109 originations.
Loan Reason
For 2023, Colfax Banking Company's most frequently cited loan purpose was Refi, with 46 originations. The 2nd most popular reason was Home Purchase, with 37 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 109 | $10,785,000 | $98,945 | $0 | 0.00% |
For 2023, Colfax Banking Company's most frequently cited loan duration was Other, with 109 originations.
Loan Sizing
2023 saw Colfax Banking Company place emphasis on $100,000 or less loans with 76 originations, totaling $3,870,000 in origination value.
Applicant Income
Colfax Banking Company lent most frequently to those with incomes in the $75k-100k range, with 24 originations. The second most popular income band? $50k-75k, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 109 | $10,785,000 | $98,945 | $0 | 0.00% |
Colfax Banking Company lent most frequently to those with DTI ratios of Exempt%, with 109 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.67%
Colfax Banking Company has an average approval rate.
Pick Rate
Approvals leading to origination88.99%
Colfax Banking Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 109 | $10,785,000 | $98,945 |