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: Memphis, New Orleans, Greenville, Cleveland, and Indianola among others. We have data for 24 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 an above average pick rate when compared to similar lenders. 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 | 6.27% | 5/4/24 |
| 15 Year Conventional Purchase | 5.68% | 5/4/24 |
| 15 Year Conventional Refi | 5.68% | 5/4/24 |
| 15 Year Cash-out Refi | 5.68% | 5/4/24 |
| 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
552Origination Dollar Volume (All Markets)
$94,240,000Top 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 |
|---|---|---|---|---|---|
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 64 | $24,320,000 | $380,000 | $0 | 5.22% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 39 | $23,245,000 | $596,026 | $0 | 5.14% |
| Greenville, MS (FHA|USDA|VA) | 175 | $11,705,000 | $66,886 | $0 | 6.42% |
| Cleveland, MS (FHA|USDA|VA) | 74 | $8,060,000 | $108,919 | $0 | 5.61% |
| Indianola, MS (FHA|USDA|VA) | 76 | $4,980,000 | $65,526 | $0 | 5.95% |
| Greenwood, MS (FHA|USDA|VA) | 29 | $4,305,000 | $148,448 | $0 | 5.40% |
| Outside of Metro Areas | 33 | $4,145,000 | $125,606 | $0 | 5.63% |
| JACKSON, MS (FHA|USDA|VA) | 18 | $3,240,000 | $180,000 | $0 | 4.37% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $2,610,000 | $1,305,000 | $0 | 4.25% |
| Oxford, MS (FHA|USDA|VA) | 10 | $1,990,000 | $199,000 | $0 | 4.78% |
| Columbus, MS (FHA|USDA|VA) | 2 | $1,120,000 | $560,000 | $0 | 4.75% |
| Tupelo, MS (FHA|USDA|VA) | 2 | $1,010,000 | $505,000 | $0 | 4.13% |
| Starkville, MS (FHA|USDA|VA) | 5 | $785,000 | $157,000 | $0 | 4.66% |
| Clarksdale, MS (FHA|USDA|VA) | 12 | $640,000 | $53,333 | $1,415 | 5.92% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $0 | 5.45% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 6.75% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 5.25% |
| Fort Payne, AL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 6.50% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 5.68% |
| Lawrenceburg, TN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 7.23% |
| Grenada, MS (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 4.73% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 5.00% |
| JONESBORO, AR (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 4.20% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 6.16% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 552 | $94,240,000 | $170,725 | $1,415 | 5.76% |
For 2022, Planters Bank & Trust Company's most frequently originated type of loan was Conventional, with 552 originations.
Loan Reason
For 2022, Planters Bank & Trust Company's most frequently cited loan purpose was Refi, with 284 originations. The 2nd most popular reason was Home Purchase, with 225 originations.
Loan Duration/Length
For 2022, Planters Bank & Trust Company's most frequently cited loan duration was 5 Year, with 369 originations. The 2nd most popular length was Other, with 96 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 261 | $23,805,000 | $91,207 |
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 261 originations.
Interest Rates
During 2022, Planters Bank & Trust Company's average interest rate for loans was 4.20%, while their most frequently originated rate bucket for loans was 4-5%, with 155 originations.
Loan Sizing
2022 saw Planters Bank & Trust Company place emphasis on $100,000 or less loans with 321 originations, totaling $14,665,000 in origination value.
Applicant Income
Planters Bank & Trust Company lent most frequently to those with incomes in the $50k or less range, with 101 originations. The second most popular income band? $50k-75k, with 88 originations.
Applicant Debt to Income Ratio
Planters Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 83 originations. The next most common DTI ratio? <20%, with 76 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.46%
Planters Bank & Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination91.30%
Planters Bank & Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 552 | $94,240,000 | $170,725 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PLANET HOME LENDING, LLC | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| PLANET HOME LENDING, LLC | FHA mortgage | Trouble during payment process | 1 | 50.0% |