Florida Parishes Bank Mortgage Rates, Fees & Info

HAMMOND, LA

LEI: 549300O0TJMGQOMR2Q09

Tax ID: 72-0186350

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)

    • Review & Overview

    Florida Parishes Bank is a smaller bank specializing in Refi and Home Purchase loans. Florida Parishes Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: New Orleans, Hammond, Baton Rouge, Daphne, and Crestview among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Florida Parishes 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. Florida Parishes Bank is typically an average 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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    Originations

    186

    Origination Dollar Volume (All Markets)

    $41,820,000

    Awards

    Florida Parishes Bank 30 Year Conventional Loans gold
    Show all (1) 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
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 75 $26,835,000 $357,800 $5,326 5.59%
    HAMMOND, LA (FHA|USDA|VA) 96 $12,310,000 $128,229 $2,115 6.75%
    BATON ROUGE, LA (FHA|USDA|VA) 12 $1,360,000 $113,333 $2,288 6.10%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $525,000 $525,000 $0 5.50%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $505,000 $505,000 $0 5.25%
    Sevierville, TN (FHA|USDA|VA) 1 $285,000 $285,000 $0 5.25%
    Florida Parishes Bank's top markets include New Orleans, Hammond, Baton Rouge, Daphne, and Crestview among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Florida Parishes Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    GREATER NEW ORLEANS
    Similarity Rank: 182
    America's Mortgage Resource, Inc.
    Similarity Rank: 315
    JEFFERSON FINANCIAL
    Similarity Rank: 448
    Home Bank
    Similarity Rank: 608
    Florida Parishes Bank
    Similarity Rank: 636
    BancorpSouth
    Similarity Rank: 915
    KEESLER
    Similarity Rank: 936
    CLEARPATH LENDING
    Similarity Rank: 1610
    FBT Mortgage, L.L.C.
    Similarity Rank: 3132
    THRIVE MORTGAGE, LLC
    Similarity Rank: 3540

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 180 $40,710,000 $226,167 $3,101 6.29%
    FHA 6 $1,110,000 $185,000 $6,499 4.04%

    For 2018, Florida Parishes Bank's most frequently originated type of loan was Conventional, with 180 originations. Their 2nd most popular type was FHA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 78 $14,910,000 $191,154 $2,027 6.76%
    Home Purchase 76 $20,540,000 $270,263 $4,925 5.53%
    Cash Out Refi 30 $6,010,000 $200,333 $2,842 6.54%
    Home Improvement 1 $85,000 $85,000 $0 6.85%
    Other 1 $275,000 $275,000 $0 5.75%

    For 2018, Florida Parishes Bank's most frequently cited loan purpose was Refi, with 78 originations. The 2nd most popular reason was Home Purchase, with 76 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    3 Year 72 $11,240,000 $156,111 $742 7.20%
    30 Year 43 $12,215,000 $284,070 $5,066 4.70%
    5 Year 36 $9,640,000 $267,778 $610 6.11%
    Other 16 $2,130,000 $133,125 $1,380 6.96%
    15 Year 9 $2,675,000 $297,222 $5,661 5.26%
    1 Year 6 $1,990,000 $331,667 $0 6.22%
    20 Year 2 $370,000 $185,000 $3,324 4.19%
    10 Year 2 $1,560,000 $780,000 $4,352 6.13%

    For 2018, Florida Parishes Bank's most frequently cited loan duration was 3 Year, with 72 originations. The 2nd most popular length was 30 Year, with 43 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 35 $7,175,000 $205,000
    $<1k 34 $2,870,000 $84,412
    $5k+ 7 $5,585,000 $797,857
    $2k-3k 4 $2,290,000 $572,500
    $3k-4k 3 $865,000 $288,333
    $4k-5k 1 $365,000 $365,000

    Florida Parishes Bank's average total fees were $5,066, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 35 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 51 $8,615,000 $168,922
    5-6% 49 $20,265,000 $413,571
    7-8% 34 $2,920,000 $85,882
    4-5% 28 $7,250,000 $258,929
    Over 8% 14 $720,000 $51,429
    3-4% 9 $1,745,000 $193,889
    <2.5% 1 $305,000 $305,000

    During 2018, Florida Parishes Bank's average interest rate for loans was 4.70%, while their most frequently originated rate bucket for loans was 6-7%, with 51 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 69 $3,995,000 $57,899 $888 7.34%
    $200k-400k 53 $14,565,000 $274,811 $4,077 5.45%
    $100k-200k 40 $5,590,000 $139,750 $3,360 5.71%
    $600k-1MM 10 $7,210,000 $721,000 $10,207 5.61%
    $400k-600k 9 $4,265,000 $473,889 $5,906 5.68%
    $1MM+ 5 $6,195,000 $1,239,000 $12,468 5.22%

    2018 saw Florida Parishes Bank place emphasis on $100,000 or less loans with 69 originations, totaling $3,995,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 30 $4,360,000 $145,333 $3,116 6.22%
    $100k-150k 24 $5,270,000 $219,583 $4,784 6.26%
    $75k-100k 24 $3,380,000 $140,833 $2,374 6.32%
    $50k or less 22 $2,000,000 $90,909 $1,511 6.65%
    $150k-250k 16 $4,050,000 $253,125 $3,710 6.03%
    $250k+ 13 $6,005,000 $461,923 $7,868 5.82%

    Florida Parishes Bank lent most frequently to those with incomes in the $50k-75k range, with 30 originations. The second most popular income band? $100k-150k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 22 $2,950,000 $134,091 $1,670 6.78%
    20-30% 21 $2,735,000 $130,238 $2,112 5.97%
    30-36% 14 $1,740,000 $124,286 $2,156 6.19%
    >60% 12 $2,350,000 $195,833 $2,462 7.01%
    44% 7 $1,965,000 $280,714 $3,655 5.69%
    50-60% 7 $1,205,000 $172,143 $3,248 6.93%
    38% 5 $2,235,000 $447,000 $4,768 5.05%
    46% 5 $1,425,000 $285,000 $3,708 5.74%
    37% 4 $590,000 $147,500 $3,165 5.41%
    36% 3 $845,000 $281,667 $6,210 5.82%
    43% 3 $335,000 $111,667 $3,472 6.89%
    49% 3 $665,000 $221,667 $7,148 5.08%
    39% 3 $565,000 $188,333 $3,646 4.75%
    40% 3 $365,000 $121,667 $4,094 6.95%
    42% 2 $330,000 $165,000 $2,907 7.73%
    41% 2 $1,560,000 $780,000 $10,012 4.81%
    45% 2 $240,000 $120,000 $3,401 6.50%
    48% 2 $170,000 $85,000 $2,692 5.24%
    47% 1 $55,000 $55,000 $0 10.35%

    Florida Parishes Bank lent most frequently to those with DTI ratios of <20%, with 22 originations. The next most common DTI ratio? 20-30%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 111 $23,205,000 $209,054 $3,422 6.17%
    Not applicable 56 $16,500,000 $294,643 $0 6.15%
    Black 18 $1,810,000 $100,556 $2,556 6.69%
    Asian Indian 1 $305,000 $305,000 $0 6.95%

    Approval Rates

    Total approvals of all applications
    96.79%

    Florida Parishes 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
    87.63%

    Florida Parishes Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 186 $41,820,000 $224,839

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $2,880,000 $480,000
    Single Family (1-4 Units):Manufactured 10 $580,000 $58,000
    Single Family (1-4 Units):Site-Built 170 $38,360,000 $225,647

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $1,970,000 $109,444 $1,620 7.37%
    40-60% 33 $5,635,000 $170,758 $2,219 6.55%
    60-80% 80 $19,110,000 $238,875 $4,106 5.85%
    80-100% 31 $9,585,000 $309,194 $4,924 5.73%
    Over 100% 8 $3,210,000 $401,250 $200 6.03%
    Under 20% 14 $940,000 $67,143 $293 7.24%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FLORIDA HOME TRUST MORTGAGE Conventional home mortgage Trouble during payment process 1 100.0%