Carolina Foothills Mortgage Rates, Fees & Info

Spartanburg, SC

LEI: 549300QBV10SC3TEU133

Tax ID: 57-0424876

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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

    Carolina Foothills is a smaller mortgage company specializing in Refi and Home Purchase loans. Carolina Foothills has a high proportion of conventional loans. Their top markets by origination volume include: Spartanburg, Greenville, Gaffney, and Greenwood among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Carolina Foothills 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. Carolina Foothills 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.87% 5/4/24
    30 Year Conventional Refi 6.83% 5/4/24
    15 Year Conventional Purchase 6.00% 5/4/24
    15 Year Conventional Refi 6.15% 5/4/24
    15 Year Cash-out Refi 6.15% 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.

    Carolina Foothills Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Carolina Foothills. 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

    57

    Origination Dollar Volume (All Markets)

    $7,055,000

    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
    SPARTANBURG, SC (FHA|USDA|VA) 34 $4,560,000 $134,118 $3,202 4.66%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 18 $1,950,000 $108,333 $3,397 4.41%
    Gaffney, SC (FHA|USDA|VA) 3 $265,000 $88,333 $2,311 3.40%
    Greenwood, SC (FHA|USDA|VA) 1 $175,000 $175,000 $5,994 5.50%
    Outside of Metro Areas 1 $105,000 $105,000 $0 0.00%
    Carolina Foothills's top markets include Spartanburg, Greenville, Gaffney, and Greenwood among others.

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

    • Similar Lenders

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

    Arthur State Bank
    Similarity Rank: 216
    CAROLINA FOOTHILLS
    Similarity Rank: 440
    First Piedmont Federal Savings and Loan Association of Gaffney
    Similarity Rank: 656
    First Palmetto Bank
    Similarity Rank: 812
    FOUNDERS FEDERAL CREDIT UNION
    Similarity Rank: 900
    CPM Federal Credit Union
    Similarity Rank: 1110
    LOCAL GOVERNMENT FEDERAL CREDIT UNION
    Similarity Rank: 1152
    SHARONVIEW FEDERAL CREDIT UNION
    Similarity Rank: 1606
    First Reliance Bank
    Similarity Rank: 1647
    Southern First Bank
    Similarity Rank: 1876

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 57 $7,055,000 $123,772 $3,267 4.52%

    For 2022, Carolina Foothills's most frequently originated type of loan was Conventional, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 25 $2,925,000 $117,000 $2,493 3.94%
    Home Purchase 22 $3,210,000 $145,909 $4,834 4.82%
    Cash Out Refi 8 $700,000 $87,500 $1,721 5.38%
    Home Improvement 2 $220,000 $110,000 $1,506 4.85%

    For 2022, Carolina Foothills's most frequently cited loan purpose was Refi, with 25 originations. The 2nd most popular reason was Home Purchase, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 30 $3,410,000 $113,667 $2,819 4.02%
    30 Year 17 $2,775,000 $163,235 $4,682 5.20%
    10 Year 7 $715,000 $102,143 $2,239 4.39%
    Other 3 $155,000 $51,667 $1,558 6.80%

    For 2022, Carolina Foothills's most frequently cited loan duration was 15 Year, with 30 originations. The 2nd most popular length was 30 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 52 $6,740,000 $129,615

    Carolina Foothills's average total fees were $4,682, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 52 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 16 $1,980,000 $123,750
    3-4% 14 $1,490,000 $106,429
    5-6% 9 $1,495,000 $166,111
    2.5-3% 8 $1,120,000 $140,000
    6-7% 8 $810,000 $101,250
    7-8% 1 $55,000 $55,000

    During 2022, Carolina Foothills's average interest rate for loans was 5.20%, while their most frequently originated rate bucket for loans was 4-5%, with 16 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 27 $3,745,000 $138,704 $3,692 4.55%
    $100,000 or less 22 $1,450,000 $65,909 $2,536 4.44%
    $200k-400k 8 $1,860,000 $232,500 $3,895 4.66%

    2022 saw Carolina Foothills place emphasis on $100k-200k loans with 27 originations, totaling $3,745,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 24 $3,240,000 $135,000 $3,370 4.56%
    $50k or less 16 $1,590,000 $99,375 $3,990 4.48%
    $75k-100k 8 $760,000 $95,000 $2,391 5.42%
    $100k-150k 6 $1,010,000 $168,333 $1,795 3.75%
    $150k-250k 2 $350,000 $175,000 $4,173 3.15%

    Carolina Foothills lent most frequently to those with incomes in the $50k-75k range, with 24 originations. The second most popular income band? $50k or less, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 17 $2,095,000 $123,235 $2,944 4.47%
    <20% 10 $1,090,000 $109,000 $3,509 3.81%
    30-36% 6 $750,000 $125,000 $4,188 4.60%
    50-60% 3 $605,000 $201,667 $4,698 5.94%
    36% 3 $345,000 $115,000 $2,274 3.95%
    45% 3 $315,000 $105,000 $2,869 5.59%
    38% 2 $370,000 $185,000 $1,733 4.85%
    40% 2 $300,000 $150,000 $3,786 4.33%
    41% 2 $120,000 $60,000 $3,406 4.98%
    42% 2 $270,000 $135,000 $3,884 3.91%
    44% 2 $190,000 $95,000 $2,517 5.75%
    37% 1 $65,000 $65,000 $1,753 3.40%
    46% 1 $105,000 $105,000 $3,630 5.30%
    47% 1 $195,000 $195,000 $5,065 5.80%
    39% 1 $135,000 $135,000 $2,064 3.15%

    Carolina Foothills lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? <20%, with 10 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 37 $4,535,000 $122,568 $2,985 4.39%
    Black 17 $1,925,000 $113,235 $3,463 4.66%
    Filipino 1 $215,000 $215,000 $5,350 6.01%
    Asian Indian 1 $205,000 $205,000 $5,274 4.49%
    Other Pacific Islander 1 $175,000 $175,000 $5,994 5.50%

    Approval Rates

    Total approvals of all applications
    83.73%

    Carolina Foothills has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.70%

    Carolina Foothills has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 57 $7,055,000 $123,772

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    57 $7,055,000 $123,772

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $925,000 $84,091 $2,654 4.42%
    40-60% 14 $1,560,000 $111,429 $2,896 4.35%
    60-80% 7 $985,000 $140,714 $2,446 4.15%
    80-100% 18 $3,200,000 $177,778 $4,519 4.86%
    Under 20% 6 $280,000 $46,667 $2,459 4.56%