The Peoples Bank Mortgage Rates, Fees & Info

SARDIS, TN

LEI: 549300PONSHZ2J8TRD25

Tax ID: 62-0322620

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
  • 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

    The Peoples Bank is a smaller bank specializing in Home Purchase and Refi loans. The Peoples Bank has a high proportion of conventional loans. Their top markets by origination volume include: Jackson, Memphis, Nashville, and Brownsville among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Peoples Bank 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.

    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

    77

    Origination Dollar Volume (All Markets)

    $11,055,000

    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
    JACKSON, TN (FHA|USDA|VA) 50 $9,110,000 $182,200 $0 0.00%
    Outside of Metro Areas 22 $1,600,000 $72,727 $0 0.00%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $190,000 $95,000 $0 0.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Brownsville, TN (FHA|USDA|VA) 2 $50,000 $25,000 $0 0.00%
    The Peoples Bank's top markets include Jackson, Memphis, Nashville, and Brownsville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 77 $11,055,000 $143,571 $0 0.00%

    For 2018, The Peoples Bank's most frequently originated type of loan was Conventional, with 77 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 54 $4,950,000 $91,667 $0 0.00%
    Refi 18 $5,900,000 $327,778 $0 0.00%
    Home Improvement 5 $205,000 $41,000 $0 0.00%

    For 2018, The Peoples Bank's most frequently cited loan purpose was Home Purchase, with 54 originations. The 2nd most popular reason was Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 77 $11,055,000 $143,571 $0 0.00%

    For 2018, The Peoples Bank's most frequently cited loan duration was Other, with 77 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 57 $2,885,000 $50,614 $0 0.00%
    $100k-200k 11 $1,655,000 $150,455 $0 0.00%
    $200k-400k 8 $1,970,000 $246,250 $0 0.00%
    $1MM+ 1 $4,545,000 $4,545,000 $0 0.00%

    2018 saw The Peoples Bank place emphasis on $100,000 or less loans with 57 originations, totaling $2,885,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 24 $1,350,000 $56,250 $0 0.00%
    $100k-150k 15 $1,475,000 $98,333 $0 0.00%
    $50k-75k 14 $1,200,000 $85,714 $0 0.00%
    $150k-250k 10 $1,020,000 $102,000 $0 0.00%
    $250k+ 6 $5,310,000 $885,000 $0 0.00%
    $75k-100k 6 $440,000 $73,333 $0 0.00%

    The Peoples Bank lent most frequently to those with incomes in the $50k or less range, with 24 originations. The second most popular income band? $100k-150k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 77 $11,055,000 $143,571 $0 0.00%

    The Peoples Bank lent most frequently to those with DTI ratios of Exempt%, with 77 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 70 $10,630,000 $151,857 $0 0.00%
    Not applicable 2 $260,000 $130,000 $0 0.00%
    Black 2 $90,000 $45,000 $0 0.00%
    Not provided 2 $40,000 $20,000 $0 0.00%
    Asian 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.98%

    The Peoples Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    98.70%

    The Peoples Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 77 $11,055,000 $143,571

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $460,000 $230,000
    Single Family (1-4 Units):Manufactured 11 $345,000 $31,364
    Single Family (1-4 Units):Site-Built 64 $10,250,000 $160,156

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    TOP FLITE FINANCIAL INC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%