Peoples Exchange Bank Mortgage Rates, Fees & Info

Winchester, KY

LEI: 549300Q3RKNDNMSDEE10

Tax ID: 61-0305975

5 stars - Updated: 4/5/25 - out of 5 stars, based on 17 reviews

Latest/2024 | 2023 Data | 2022 Data | 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 loans. Peoples Exchange Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Lexington, Mount Sterling, Cincinnati, Richmond, and Frankfort among others. We have data for 13 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.81% 4/5/25
    30 Year Conventional Refi 6.66% 4/5/25
    30 Year Cash-out Refi 6.72% 4/5/25
    30 Year FHA Purchase 6.86% 4/5/25
    30 Year FHA Refi 6.72% 4/5/25
    30 Year VA Purchase 6.20% 4/5/25
    30 Year VA Refi 6.21% 4/5/25
    30 Year USDA Purchase 6.53% 4/5/25
    15 Year Conventional Purchase 6.26% 4/5/25
    15 Year Conventional Refi 6.00% 4/5/25
    15 Year Cash-out Refi 6.00% 4/5/25
    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

    283

    Origination Dollar Volume (All Markets)

    $78,945,000
    Show all (10) awards

    Relative Rate

    Peoples Exchange Bank's average 30 year fixed mortgage rate was 6.51%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.04%.

    Relative Fees (Closing Costs)

    Peoples Exchange Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,969.

    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 $8,356.

    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) 170 $46,130,000 $271,353 $4,152 6.90%
    Mount Sterling, KY (FHA|USDA|VA) 26 $11,020,000 $423,846 $2,868 7.26%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 26 $9,360,000 $360,000 $3,941 6.75%
    Outside of Metro Areas 29 $6,745,000 $232,586 $4,134 7.14%
    Richmond-Berea, KY (FHA|USDA|VA) 9 $1,895,000 $210,556 $3,002 6.93%
    Frankfort, KY (FHA|USDA|VA) 7 $1,445,000 $206,429 $4,256 6.48%
    Danville, KY (FHA|USDA|VA) 5 $655,000 $131,000 $2,550 7.32%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 5 $465,000 $93,000 $2,699 7.15%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 1 $355,000 $355,000 $0 7.50%
    Bardstown, KY (FHA|USDA|VA) 1 $295,000 $295,000 $2,945 6.63%
    London, KY (FHA|USDA|VA) 2 $240,000 $120,000 $4,094 6.50%
    Somerset, KY (FHA|USDA|VA) 1 $195,000 $195,000 $6,339 6.63%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $145,000 $145,000 $2,679 6.50%
    Peoples Exchange Bank's top markets include Lexington, Mount Sterling, Cincinnati, Richmond, and Frankfort among others.

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

    The North Side Bank & Trust Company
    Similarity Rank: 136
    COMMONWEALTH
    Similarity Rank: 200
    MEMBERS HERITAGE Credit Union
    Similarity Rank: 260
    PARK COMMUNITY CREDIT UNION, INC.
    Similarity Rank: 280
    Whitaker Bank
    Similarity Rank: 323
    City National Bank of West Virginia
    Similarity Rank: 369
    Day Air Credit Union, Inc
    Similarity Rank: 510
    Somerville Bank
    Similarity Rank: 560
    The Friendship State Bank
    Similarity Rank: 576
    Community Trust Bank, Inc.
    Similarity Rank: 588

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 227 $65,495,000 $288,524 $2,933 7.14%
    FHA 40 $9,390,000 $234,750 $6,735 6.14%
    VA 11 $3,055,000 $277,727 $4,274 6.09%
    USDA 5 $1,005,000 $201,000 $4,242 6.18%

    For 2024, Peoples Exchange Bank's most frequently originated type of loan was Conventional, with 227 originations. Their 2nd most popular type was FHA, with 40 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 214 $62,310,000 $291,168 $4,216 6.85%
    Refi 47 $12,985,000 $276,277 $2,583 7.26%
    Cash Out Refi 13 $2,135,000 $164,231 $2,509 6.73%
    Home Improvement 9 $1,515,000 $168,333 $0 7.72%

    For 2024, Peoples Exchange Bank's most frequently cited loan purpose was Home Purchase, with 214 originations. The 2nd most popular reason was Refi, with 47 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 169 $40,875,000 $241,864 $3,969 6.51%
    Other 88 $34,010,000 $386,477 $0 7.57%
    20 Year 11 $1,205,000 $109,545 $1,234 7.82%
    15 Year 7 $1,425,000 $203,571 $2,932 7.01%
    1 Year 7 $1,425,000 $203,571 $0 7.82%
    5 Year 1 $5,000 $5,000 $0 8.50%

    For 2024, Peoples Exchange Bank's most frequently cited loan duration was 30 Year, with 169 originations. The 2nd most popular length was Other, with 88 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 147 $34,635,000 $235,612
    $1k-2k 20 $5,460,000 $273,000
    $2k-3k 4 $980,000 $245,000
    $3k-4k 1 $335,000 $335,000
    $4k-5k 1 $195,000 $195,000
    $5k+ 1 $485,000 $485,000

    Peoples Exchange Bank's average total fees were $3,969, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 147 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 125 $43,185,000 $345,480
    7-8% 108 $25,130,000 $232,685
    5-6% 35 $8,685,000 $248,143
    Over 8% 15 $1,945,000 $129,667

    During 2024, Peoples Exchange Bank's average interest rate for loans was 6.51%, while their most frequently originated rate bucket for loans was 6-7%, with 125 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 117 $31,245,000 $267,051 $4,367 6.78%
    $100k-200k 102 $15,570,000 $152,647 $3,590 7.01%
    $100,000 or less 34 $2,390,000 $70,294 $2,206 7.31%
    $400k-600k 18 $8,540,000 $474,444 $4,060 6.69%
    $1MM+ 7 $17,535,000 $2,505,000 $8,939 7.33%
    $600k-1MM 5 $3,665,000 $733,000 $3,866 7.10%

    2024 saw Peoples Exchange Bank place emphasis on $200k-400k loans with 117 originations, totaling $31,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 53 $12,905,000 $243,491 $3,795 6.96%
    $50k-75k 53 $9,445,000 $178,208 $4,226 6.34%
    $75k-100k 42 $8,780,000 $209,048 $4,086 6.73%
    $50k or less 30 $3,980,000 $132,667 $3,434 6.97%
    $150k-250k 29 $8,205,000 $282,931 $3,862 7.10%
    $250k+ 14 $5,730,000 $409,286 $3,734 7.15%

    Peoples Exchange Bank lent most frequently to those with incomes in the $100k-150k range, with 53 originations. The second most popular income band? $50k-75k, with 53 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 37 $8,115,000 $219,324 $2,807 6.65%
    30-36% 36 $10,630,000 $295,278 $4,464 6.56%
    38% 11 $2,355,000 $214,091 $3,978 6.38%
    <20% 10 $2,040,000 $204,000 $2,684 6.41%
    43% 10 $1,970,000 $197,000 $3,193 6.82%
    50-60% 10 $2,630,000 $263,000 $5,107 6.34%
    41% 8 $2,090,000 $261,250 $4,493 6.41%
    49% 8 $1,760,000 $220,000 $4,325 6.57%
    48% 7 $1,815,000 $259,286 $4,486 6.29%
    40% 6 $1,420,000 $236,667 $5,076 6.50%
    36% 6 $1,370,000 $228,333 $3,725 6.72%
    44% 5 $1,355,000 $271,000 $6,100 6.45%
    45% 5 $1,185,000 $237,000 $5,665 6.10%
    37% 5 $1,045,000 $209,000 $2,722 6.90%
    39% 4 $690,000 $172,500 $4,252 6.13%
    42% 3 $865,000 $288,333 $4,205 6.50%
    47% 2 $470,000 $235,000 $3,261 6.81%

    Peoples Exchange Bank lent most frequently to those with DTI ratios of 20-30%, with 37 originations. The next most common DTI ratio? 30-36%, with 36 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 196 $44,120,000 $225,102 $4,039 6.78%
    Not applicable 61 $29,615,000 $485,492 $0 7.49%
    Not provided 15 $3,525,000 $235,000 $3,267 6.72%
    Black 5 $835,000 $167,000 $2,359 7.25%
    Other Asian 4 $490,000 $122,500 $0 7.38%
    Asian 2 $360,000 $180,000 $2,826 6.56%

    Approval Rates

    Total approvals of all applications
    90.82%

    Peoples Exchange Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.20%

    Peoples Exchange Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 283 $78,945,000 $278,958

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    283 $78,945,000 $278,958

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $1,700,000 $106,250 $2,219 7.13%
    40-60% 37 $6,025,000 $162,838 $2,492 7.22%
    60-80% 112 $34,750,000 $310,268 $2,909 7.16%
    80-100% 114 $36,100,000 $316,667 $4,890 6.60%
    Over 100% 1 $235,000 $235,000 $7,731 5.99%
    Under 20% 3 $135,000 $45,000 $2,255 7.54%