Planters Bank & Trust Company Mortgage Rates, Fees & Info
Indianola, MSLEI: 549300PGV74J5SPHTG47
Tax ID: 64-0223390
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Mortgage Data
Review & Overview
Planters Bank & Trust Company is a smaller bank specializing in Refi and Home Purchase loans. Planters Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: New Orleans, Greenville, Atlanta, Memphis, and Cleveland among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)Planters Bank & Trust 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.
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 | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 5.68% | 4/21/24 |
| 15 Year Conventional Refi | 5.68% | 4/21/24 |
| 15 Year Cash-out Refi | 5.68% | 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. | ||
Planters Bank & Trust Company Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
487Origination Dollar Volume (All Markets)
$80,955,000Top 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 |
|---|---|---|---|---|---|
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 22 | $21,490,000 | $976,818 | $0 | 7.99% |
| Greenville, MS (FHA|USDA|VA) | 171 | $12,155,000 | $71,082 | $0 | 8.56% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $11,545,000 | $11,545,000 | $0 | 7.25% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 63 | $9,945,000 | $157,857 | $0 | 8.00% |
| Cleveland, MS (FHA|USDA|VA) | 68 | $7,350,000 | $108,088 | $0 | 8.29% |
| Indianola, MS (FHA|USDA|VA) | 71 | $5,265,000 | $74,155 | $0 | 8.26% |
| Outside of Metro Areas | 26 | $4,610,000 | $177,308 | $0 | 8.13% |
| Greenwood, MS (FHA|USDA|VA) | 38 | $3,990,000 | $105,000 | $0 | 8.22% |
| Starkville, MS (FHA|USDA|VA) | 5 | $1,115,000 | $223,000 | $0 | 7.82% |
| JACKSON, MS (FHA|USDA|VA) | 5 | $775,000 | $155,000 | $0 | 7.51% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $0 | 7.23% |
| Oxford, MS (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $0 | 7.90% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 7.25% |
| Clarksdale, MS (FHA|USDA|VA) | 6 | $260,000 | $43,333 | $0 | 8.92% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 7.00% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 8.48% |
| Picayune, MS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 7.36% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 8.50% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 8.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 7.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 487 | $80,955,000 | $166,232 | $0 | 8.29% |
For 2023, Planters Bank & Trust Company's most frequently originated type of loan was Conventional, with 487 originations.
Loan Reason
For 2023, Planters Bank & Trust Company's most frequently cited loan purpose was Refi, with 267 originations. The 2nd most popular reason was Home Purchase, with 157 originations.
Loan Duration/Length
For 2023, Planters Bank & Trust Company's most frequently cited loan duration was 5 Year, with 370 originations. The 2nd most popular length was Other, with 60 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 227 | $24,665,000 | $108,656 |
| $5k+ | 1 | $1,855,000 | $1,855,000 |
Planters Bank & Trust Company's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 227 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 282 | $34,610,000 | $122,730 |
| 7-8% | 160 | $38,000,000 | $237,500 |
| 6-7% | 44 | $8,300,000 | $188,636 |
| 5-6% | 1 | $45,000 | $45,000 |
During 2023, Planters Bank & Trust Company's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 282 originations.
Loan Sizing
2023 saw Planters Bank & Trust Company place emphasis on $100,000 or less loans with 309 originations, totaling $13,865,000 in origination value.
Applicant Income
Planters Bank & Trust Company lent most frequently to those with incomes in the $50k or less range, with 85 originations. The second most popular income band? $100k-150k, with 74 originations.
Applicant Debt to Income Ratio
Planters Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 90 originations. The next most common DTI ratio? 30-36%, with 57 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.40%
Planters Bank & Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination89.73%
Planters Bank & Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 487 | $80,955,000 | $166,232 |