Jeff Davis Bancshares Mortgage Rates, Fees & Info
Jennings, LALEI: 549300RO0FORROX83086
Tax ID: 72-1176368
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Mortgage Data
Review & Overview
Jeff Davis Bancshares is a smaller mortgage company specializing in Refi and Home Purchase loans. Jeff Davis Bancshares has a high proportion of conventional loans. Their top markets by origination volume include: Lake Charles, Lafayette, Baton Rouge, Opelousas, and New Orleans among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Jeff Davis Bancshares 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. Jeff Davis Bancshares 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.19% | 11/17/24 |
| 30 Year Conventional Refi | 7.10% | 11/17/24 |
| 30 Year Cash-out Refi | 7.16% | 11/17/24 |
| 15 Year Conventional Purchase | 7.71% | 11/17/24 |
| 15 Year Conventional Refi | 7.97% | 11/17/24 |
| 15 Year Cash-out Refi | 7.97% | 11/17/24 |
| 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. | ||
Jeff Davis Bancshares Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
249Origination Dollar Volume (All Markets)
$36,215,000Awards
Jeff Davis Bancshares - 2023
Jeff Davis Bancshares is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Jeff Davis Bancshares's average 30 year fixed mortgage rate was
7.8%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 1.32%.
Relative Fees (Closing Costs)
Jeff Davis Bancshares's average total fees/closing costs for a 30 year fixed rate
mortgage were $1,684.
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 |
|---|---|---|---|---|---|
| LAKE CHARLES, LA (FHA|USDA|VA) | 114 | $13,190,000 | $115,702 | $1,472 | 7.88% |
| LAFAYETTE, LA (FHA|USDA|VA) | 36 | $6,920,000 | $192,222 | $1,896 | 7.59% |
| BATON ROUGE, LA (FHA|USDA|VA) | 6 | $5,320,000 | $886,667 | $3,413 | 6.99% |
| Outside of Metro Areas | 48 | $3,530,000 | $73,542 | $1,567 | 8.09% |
| Opelousas, LA (FHA|USDA|VA) | 14 | $2,090,000 | $149,286 | $1,390 | 8.11% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 5 | $1,925,000 | $385,000 | $0 | 7.58% |
| Jennings, LA (FHA|USDA|VA) | 16 | $1,290,000 | $80,625 | $1,074 | 7.77% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 7.75% |
| DeRidder, LA (FHA|USDA|VA) | 6 | $760,000 | $126,667 | $715 | 7.97% |
| Morgan City, LA (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 7.63% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Jeff Davis Bancshares based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 249 | $36,215,000 | $145,442 | $1,514 | 7.85% |
For 2023, Jeff Davis Bancshares's most frequently originated type of loan was Conventional, with 249 originations.
Loan Reason
For 2023, Jeff Davis Bancshares's most frequently cited loan purpose was Refi, with 118 originations. The 2nd most popular reason was Home Purchase, with 94 originations.
Loan Duration/Length
For 2023, Jeff Davis Bancshares's most frequently cited loan duration was 5 Year, with 131 originations. The 2nd most popular length was 20 Year, with 32 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 91 | $11,685,000 | $128,407 |
Jeff Davis Bancshares's average total fees were $1,684, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 91 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 157 | $21,945,000 | $139,777 |
| Over 8% | 58 | $5,270,000 | $90,862 |
| 6-7% | 26 | $5,140,000 | $197,692 |
| 5-6% | 3 | $3,115,000 | $1,038,333 |
During 2023, Jeff Davis Bancshares's average interest rate for loans was 7.80%, while their most frequently originated rate bucket for loans was 7-8%, with 157 originations.
Loan Sizing
2023 saw Jeff Davis Bancshares place emphasis on $100,000 or less loans with 151 originations, totaling $7,165,000 in origination value.
Applicant Income
Jeff Davis Bancshares lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $50k or less, with 32 originations.
Applicant Debt to Income Ratio
Jeff Davis Bancshares lent most frequently to those with DTI ratios of 20-30%, with 30 originations. The next most common DTI ratio? 30-36%, with 29 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.64%
Jeff Davis Bancshares has an average approval rate.
Pick Rate
Approvals leading to origination73.09%
Jeff Davis Bancshares has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 122.75 | 2 | $70,000 | $35,000 |
| 48.75 | 2 | $100,000 | $50,000 |
| 74.0 | 5 | $165,000 | $33,000 |
| NA | 240 | $35,880,000 | $149,500 |