Colfax Banking Company Mortgage Rates, Fees & Info

Colfax, LA

LEI: 549300MEK4ETDCVHFB89

Tax ID: 72-0156480

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
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Colfax Banking Company is a smaller bank specializing in Cash Out Refi and Refi loans. Colfax Banking Company has a high proportion of conventional loans. Their top markets by origination volume include: Alexandria, Natchez, and New Orleans among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Colfax Banking Company has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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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    Originations

    104

    Origination Dollar Volume (All Markets)

    $10,350,000

    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
    ALEXANDRIA, LA (FHA|USDA|VA) 96 $8,980,000 $93,542 $0 0.00%
    Outside of Metro Areas 6 $1,020,000 $170,000 $0 0.00%
    Natchez, MS-LA (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    Colfax Banking Company's top markets include Alexandria, Natchez, and New Orleans among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 104 $10,350,000 $99,519 $0 0.00%

    For 2022, Colfax Banking Company's most frequently originated type of loan was Conventional, with 104 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 47 $3,915,000 $83,298 $0 0.00%
    Refi 35 $4,605,000 $131,571 $0 0.00%
    Home Purchase 22 $1,830,000 $83,182 $0 0.00%

    For 2022, Colfax Banking Company's most frequently cited loan purpose was Cash Out Refi, with 47 originations. The 2nd most popular reason was Refi, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 104 $10,350,000 $99,519 $0 0.00%

    For 2022, Colfax Banking Company's most frequently cited loan duration was Other, with 104 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 69 $3,605,000 $52,246 $0 0.00%
    $100k-200k 22 $3,160,000 $143,636 $0 0.00%
    $200k-400k 13 $3,585,000 $275,769 $0 0.00%

    2022 saw Colfax Banking Company place emphasis on $100,000 or less loans with 69 originations, totaling $3,605,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 25 $1,865,000 $74,600 $0 0.00%
    $50k-75k 22 $1,380,000 $62,727 $0 0.00%
    $100k-150k 18 $2,700,000 $150,000 $0 0.00%
    $75k-100k 11 $1,145,000 $104,091 $0 0.00%
    $150k-250k 5 $355,000 $71,000 $0 0.00%
    $250k+ 1 $295,000 $295,000 $0 0.00%

    Colfax Banking Company lent most frequently to those with incomes in the $50k or less range, with 25 originations. The second most popular income band? $50k-75k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 104 $10,350,000 $99,519 $0 0.00%

    Colfax Banking Company lent most frequently to those with DTI ratios of Exempt%, with 104 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 86 $8,230,000 $95,698 $0 0.00%
    Not applicable 17 $2,055,000 $120,882 $0 0.00%
    Not provided 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.64%

    Colfax Banking Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.50%

    Colfax Banking Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 104 $10,350,000 $99,519

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    104 $10,350,000 $99,519