Peoples Exchange Bank Mortgage Rates, Fees & Info

Winchester, KY

LEI: 549300Q3RKNDNMSDEE10

Tax ID: 61-0305975

5 stars - Updated: 12/4/23 - out of 5 stars, based on 20 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Peoples Exchange Bank is a smaller bank specializing in Home Purchase and Refi loans. Peoples Exchange 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Lexington, Mount Sterling, Richmond, Frankfort, and Cincinnati among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Peoples Exchange 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. Peoples Exchange Bank is typically a low 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.58% 12/4/23
    30 Year Conventional Refi 6.28% 12/4/23
    30 Year Cash-out Refi 6.61% 12/4/23
    30 Year FHA Purchase 6.91% 12/4/23
    30 Year VA Purchase 5.73% 12/4/23
    30 Year USDA Purchase 6.16% 12/4/23
    15 Year Conventional Purchase 6.01% 12/4/23
    15 Year Conventional Refi 6.00% 12/4/23
    15 Year Cash-out Refi 6.00% 12/4/23
    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.

    Peoples Exchange Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Peoples Exchange Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    399

    Origination Dollar Volume (All Markets)

    $113,275,000
    Show all (15) awards

    Relative Rate

    Peoples Exchange Bank's average 30 year fixed mortgage rate was 4.51%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.26%.

    Relative Fees (Closing Costs)

    Peoples Exchange Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,567.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 294 $88,290,000 $300,306 $3,420 4.57%
    Outside of Metro Areas 30 $8,360,000 $278,667 $3,466 4.42%
    Mount Sterling, KY (FHA|USDA|VA) 32 $4,950,000 $154,688 $2,690 4.77%
    Richmond-Berea, KY (FHA|USDA|VA) 15 $4,415,000 $294,333 $2,777 4.69%
    Frankfort, KY (FHA|USDA|VA) 12 $2,680,000 $223,333 $3,757 4.57%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 8 $2,200,000 $275,000 $5,017 4.58%
    Danville, KY (FHA|USDA|VA) 3 $1,495,000 $498,333 $0 6.00%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 4 $610,000 $152,500 $2,477 4.50%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $275,000 $275,000 $3,701 4.38%
    Peoples Exchange Bank's top markets include Lexington, Mount Sterling, Richmond, Frankfort, and Cincinnati among others.

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

    • Similar Lenders

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

    Peoples Exchange Bank
    Similarity Rank: 351
    COMMONWEALTH
    Similarity Rank: 375
    MORTGAGE SUPPLIERS, INC.
    Similarity Rank: 490
    Commonwealth Bank and Trust Company
    Similarity Rank: 609
    The Monticello Banking Company
    Similarity Rank: 817
    The Citizens National Bank of Somerset
    Similarity Rank: 910
    SOUTH CENTRAL BANK, INC.
    Similarity Rank: 1104
    Central Bank
    Similarity Rank: 1368
    MEMBERS HERITAGE Credit Union
    Similarity Rank: 1495
    Traditional Bank, Inc.
    Similarity Rank: 1648

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 354 $103,660,000 $292,825 $2,705 4.59%
    FHA 26 $5,620,000 $216,154 $6,386 4.88%
    USDA 17 $3,375,000 $198,529 $4,351 3.98%
    VA 2 $620,000 $310,000 $5,607 5.31%

    For 2022, Peoples Exchange Bank's most frequently originated type of loan was Conventional, with 354 originations. Their 2nd most popular type was FHA, with 26 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 238 $73,370,000 $308,277 $3,879 4.78%
    Refi 121 $31,275,000 $258,471 $2,440 4.38%
    Cash Out Refi 36 $6,060,000 $168,333 $2,412 3.99%
    Home Improvement 4 $2,570,000 $642,500 $0 4.94%

    For 2022, Peoples Exchange Bank's most frequently cited loan purpose was Home Purchase, with 238 originations. The 2nd most popular reason was Refi, with 121 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 169 $41,845,000 $247,604 $3,567 4.51%
    Other 140 $53,880,000 $384,857 $1,955 4.76%
    20 Year 40 $8,010,000 $200,250 $1,932 4.52%
    15 Year 27 $5,235,000 $193,889 $2,380 3.98%
    1 Year 18 $3,820,000 $212,222 $0 5.35%
    10 Year 5 $485,000 $97,000 $2,408 4.03%

    For 2022, Peoples Exchange Bank's most frequently cited loan duration was 30 Year, with 169 originations. The 2nd most popular length was Other, with 140 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 154 $36,100,000 $234,416
    $1k-2k 37 $8,175,000 $220,946
    $2k-3k 9 $1,875,000 $208,333
    $5k+ 2 $700,000 $350,000
    $3k-4k 1 $305,000 $305,000

    Peoples Exchange Bank's average total fees were $3,567, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 154 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 128 $44,520,000 $347,813
    4-5% 103 $25,865,000 $251,117
    5-6% 91 $23,235,000 $255,330
    6-7% 33 $8,045,000 $243,788
    2.5-3% 24 $6,980,000 $290,833
    <2.5% 9 $1,495,000 $166,111
    7-8% 7 $2,265,000 $323,571

    During 2022, Peoples Exchange Bank's average interest rate for loans was 4.51%, while their most frequently originated rate bucket for loans was 3-4%, with 128 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 158 $23,480,000 $148,608 $3,056 4.57%
    $200k-400k 127 $34,255,000 $269,724 $3,955 4.59%
    $100,000 or less 47 $3,465,000 $73,723 $1,993 4.88%
    $400k-600k 47 $22,355,000 $475,638 $2,753 4.32%
    $600k-1MM 11 $8,695,000 $790,455 $3,276 4.64%
    $1MM+ 9 $21,025,000 $2,336,111 $5,039 4.64%

    2022 saw Peoples Exchange Bank place emphasis on $100k-200k loans with 158 originations, totaling $23,480,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 68 $12,700,000 $186,765 $3,590 4.70%
    $100k-150k 59 $16,245,000 $275,339 $3,613 4.61%
    $50k or less 55 $8,175,000 $148,636 $2,980 4.61%
    $75k-100k 45 $9,675,000 $215,000 $3,178 4.55%
    $150k-250k 31 $9,655,000 $311,452 $3,057 4.35%
    $250k+ 17 $6,625,000 $389,706 $3,135 4.56%

    Peoples Exchange Bank lent most frequently to those with incomes in the $50k-75k range, with 68 originations. The second most popular income band? $100k-150k, with 59 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 46 $9,330,000 $202,826 $2,802 4.25%
    30-36% 44 $8,770,000 $199,318 $3,334 4.58%
    <20% 19 $5,875,000 $309,211 $3,067 4.10%
    39% 16 $4,220,000 $263,750 $4,166 4.59%
    38% 10 $1,960,000 $196,000 $3,351 3.77%
    40% 9 $2,385,000 $265,000 $4,157 4.75%
    36% 7 $1,615,000 $230,714 $2,952 5.16%
    37% 7 $1,595,000 $227,857 $2,982 4.21%
    44% 7 $1,955,000 $279,286 $5,366 4.53%
    42% 6 $1,640,000 $273,333 $3,495 4.31%
    41% 6 $1,620,000 $270,000 $2,757 4.98%
    43% 6 $1,720,000 $286,667 $2,726 3.92%
    48% 5 $1,445,000 $289,000 $4,948 4.50%
    45% 4 $940,000 $235,000 $2,744 3.69%
    47% 4 $910,000 $227,500 $4,076 4.93%
    46% 3 $935,000 $311,667 $3,616 4.24%
    49% 3 $935,000 $311,667 $2,821 4.71%
    50-60% 2 $270,000 $135,000 $2,942 4.88%

    Peoples Exchange Bank lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 44 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 247 $57,335,000 $232,126 $3,373 4.59%
    Not applicable 123 $49,795,000 $404,837 $0 4.59%
    Not provided 13 $3,165,000 $243,462 $2,981 3.90%
    Black 7 $1,525,000 $217,857 $3,868 5.46%
    Asian 4 $870,000 $217,500 $2,738 4.59%
    Other Asian 4 $500,000 $125,000 $0 4.78%
    American Indian 1 $85,000 $85,000 $0 6.00%

    Approval Rates

    Total approvals of all applications
    91.54%

    Peoples Exchange Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.20%

    Peoples Exchange Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 399 $113,275,000 $283,897

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    399 $113,275,000 $283,897

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $2,360,000 $98,333 $2,081 4.20%
    40-60% 56 $12,010,000 $214,464 $2,572 4.59%
    60-80% 165 $58,005,000 $351,545 $2,649 4.74%
    80-100% 149 $40,455,000 $271,510 $4,532 4.45%
    Over 100% 1 $145,000 $145,000 $2,616 5.15%
    Under 20% 4 $300,000 $75,000 $1,789 5.50%