Peoples Exchange Bank Mortgage Rates, Fees & Info

Winchester, KY

LEI: 549300Q3RKNDNMSDEE10

Tax ID: 61-0305975

5 stars - Updated: 11/3/24 - out of 5 stars, based on 15 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

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, Cincinnati, Mount Sterling, Richmond, and Frankfort 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 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 relatively high 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 6.58% 11/3/24
30 Year Conventional Refi 6.28% 11/3/24
30 Year Cash-out Refi 6.61% 11/3/24
30 Year FHA Purchase 6.91% 11/3/24
30 Year VA Purchase 5.73% 11/3/24
30 Year USDA Purchase 6.16% 11/3/24
15 Year Conventional Purchase 6.01% 11/3/24
15 Year Conventional Refi 6.00% 11/3/24
15 Year Cash-out Refi 6.00% 11/3/24
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.

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

239

Origination Dollar Volume (All Markets)

$52,145,000
Show all (6) awards

Relative Rate

Peoples Exchange Bank's average 30 year fixed mortgage rate was 6.49%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.01%.

Relative Fees (Closing Costs)

Peoples Exchange Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,175.

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 $9,089.

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) 150 $34,020,000 $226,800 $3,900 6.98%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 28 $7,150,000 $255,357 $5,041 6.84%
Mount Sterling, KY (FHA|USDA|VA) 22 $2,800,000 $127,273 $2,710 7.19%
Richmond-Berea, KY (FHA|USDA|VA) 6 $2,720,000 $453,333 $6,039 6.77%
Outside of Metro Areas 19 $2,635,000 $138,684 $3,344 6.90%
Frankfort, KY (FHA|USDA|VA) 6 $1,200,000 $200,000 $3,609 6.71%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 5 $725,000 $145,000 $3,257 7.87%
Danville, KY (FHA|USDA|VA) 2 $530,000 $265,000 $6,483 6.06%
LOUISVILLE, KY (FHA|USDA|VA) 1 $365,000 $365,000 $3,157 6.63%
Peoples Exchange Bank's top markets include Lexington, Cincinnati, Mount Sterling, 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.

    Whitaker Bank
    Similarity Rank: 153
    PARK COMMUNITY CREDIT UNION, INC.
    Similarity Rank: 323
    Peoples Exchange Bank
    Similarity Rank: 333
    COMMONWEALTH
    Similarity Rank: 414
    Forcht Bank
    Similarity Rank: 418
    Traditional Bank, Inc.
    Similarity Rank: 420
    Community Trust Bank, Inc.
    Similarity Rank: 540
    GENERAL ELECTRIC CREDIT UNION
    Similarity Rank: 900

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 194 $41,980,000 $216,392 $2,902 7.15%
    FHA 36 $8,430,000 $234,167 $6,926 6.27%
    VA 5 $875,000 $175,000 $5,492 6.25%
    USDA 4 $860,000 $215,000 $4,504 5.78%

    For 2023, Peoples Exchange Bank's most frequently originated type of loan was Conventional, with 194 originations. Their 2nd most popular type was FHA, with 36 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 172 $39,150,000 $227,616 $4,262 6.86%
    Refi 48 $10,180,000 $212,083 $2,886 7.31%
    Cash Out Refi 12 $1,730,000 $144,167 $2,445 6.59%
    Home Improvement 7 $1,085,000 $155,000 $0 8.21%

    For 2023, Peoples Exchange Bank's most frequently cited loan purpose was Home Purchase, with 172 originations. The 2nd most popular reason was Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 139 $33,805,000 $243,201 $4,175 6.49%
    Other 59 $13,245,000 $224,492 $1,962 7.73%
    20 Year 20 $1,840,000 $92,000 $2,136 7.78%
    15 Year 10 $1,280,000 $128,000 $2,306 7.03%
    1 Year 10 $1,900,000 $190,000 $1,811 7.80%
    10 Year 1 $75,000 $75,000 $2,109 6.50%

    For 2023, Peoples Exchange Bank's most frequently cited loan duration was 30 Year, with 139 originations. The 2nd most popular length was Other, with 59 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 118 $26,450,000 $224,153
    $1k-2k 24 $5,330,000 $222,083
    $2k-3k 7 $1,995,000 $285,000
    $3k-4k 4 $1,420,000 $355,000
    $4k-5k 2 $390,000 $195,000

    Peoples Exchange Bank's average total fees were $4,175, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 118 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 95 $21,995,000 $231,526
    7-8% 81 $17,975,000 $221,914
    5-6% 38 $8,730,000 $229,737
    Over 8% 22 $3,010,000 $136,818
    4-5% 1 $95,000 $95,000

    During 2023, Peoples Exchange Bank's average interest rate for loans was 6.49%, while their most frequently originated rate bucket for loans was 6-7%, with 95 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 88 $23,230,000 $263,977 $4,792 6.71%
    $100k-200k 86 $13,270,000 $154,302 $3,390 7.02%
    $100,000 or less 41 $2,825,000 $68,902 $2,052 7.44%
    $400k-600k 21 $9,995,000 $475,952 $4,193 7.00%
    $1MM+ 2 $2,180,000 $1,090,000 $0 7.12%
    $600k-1MM 1 $645,000 $645,000 $3,925 7.00%

    2023 saw Peoples Exchange Bank place emphasis on $200k-400k loans with 88 originations, totaling $23,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 48 $8,430,000 $175,625 $3,616 6.58%
    $75k-100k 45 $9,965,000 $221,444 $4,744 6.82%
    $100k-150k 35 $7,385,000 $211,000 $3,674 6.91%
    $50k or less 29 $3,725,000 $128,448 $3,733 6.79%
    $150k-250k 25 $8,475,000 $339,000 $3,637 6.79%
    $250k+ 10 $3,460,000 $346,000 $4,581 7.00%

    Peoples Exchange Bank lent most frequently to those with incomes in the $50k-75k range, with 48 originations. The second most popular income band? $75k-100k, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 38 $9,080,000 $238,947 $3,362 6.44%
    30-36% 33 $6,705,000 $203,182 $3,362 6.67%
    <20% 10 $1,590,000 $159,000 $3,202 6.22%
    40% 9 $1,925,000 $213,889 $3,903 6.49%
    42% 8 $1,720,000 $215,000 $4,091 6.55%
    39% 8 $2,020,000 $252,500 $5,532 6.45%
    49% 7 $1,095,000 $156,429 $4,249 6.72%
    38% 7 $1,665,000 $237,857 $5,187 6.33%
    45% 6 $1,190,000 $198,333 $5,353 6.39%
    36% 5 $1,465,000 $293,000 $5,419 6.79%
    50-60% 4 $770,000 $192,500 $5,051 6.44%
    43% 4 $1,220,000 $305,000 $4,896 6.75%
    44% 4 $1,540,000 $385,000 $4,833 6.66%
    46% 4 $1,200,000 $300,000 $4,603 6.44%
    37% 3 $635,000 $211,667 $4,339 6.38%
    48% 3 $665,000 $221,667 $4,530 6.00%
    41% 3 $685,000 $228,333 $2,651 6.92%
    47% 2 $480,000 $240,000 $4,558 7.44%
    >60% 1 $595,000 $595,000 $1,912 7.80%

    Peoples Exchange Bank lent most frequently to those with DTI ratios of 20-30%, with 38 originations. The next most common DTI ratio? 30-36%, with 33 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 171 $36,965,000 $216,170 $3,944 6.72%
    Not applicable 47 $10,705,000 $227,766 $0 7.80%
    Not provided 9 $2,525,000 $280,556 $3,582 7.21%
    Black 5 $885,000 $177,000 $5,359 6.33%
    Other Asian 4 $470,000 $117,500 $0 8.13%
    Asian 2 $460,000 $230,000 $3,257 7.68%
    Asian Indian 1 $135,000 $135,000 $0 8.00%

    Approval Rates

    Total approvals of all applications
    89.58%

    Peoples Exchange Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    66.95%

    Peoples Exchange Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 239 $52,145,000 $218,180

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    239 $52,145,000 $218,180

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $1,410,000 $100,714 $2,435 6.97%
    40-60% 27 $4,045,000 $149,815 $2,352 7.23%
    60-80% 99 $22,305,000 $225,303 $3,196 7.24%
    80-100% 92 $23,770,000 $258,370 $4,888 6.60%
    Over 100% 1 $255,000 $255,000 $10,551 6.00%
    Under 20% 4 $290,000 $72,500 $1,522 7.29%