Jeff Davis Bancshares Mortgage Rates, Fees & Info

Jennings, LA

LEI: 549300RO0FORROX83086

Tax ID: 72-1176368

5 stars - Updated: 4/18/24 - out of 5 stars, based on 16 reviews

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

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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.

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 7.19% 4/18/24
30 Year Conventional Refi 7.10% 4/18/24
30 Year Cash-out Refi 7.16% 4/18/24
15 Year Conventional Purchase 7.71% 4/18/24
15 Year Conventional Refi 7.97% 4/18/24
15 Year Cash-out Refi 7.97% 4/18/24
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






Your Estimates

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

This is not an official calculator from Jeff Davis Bancshares. 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

249

Origination Dollar Volume (All Markets)

$36,215,000

Awards

Jeff Davis Bancshares 30 Year Conventional Loans gold Jeff Davis Bancshares 30 Year Conventional Loans gold
Show all (2) awards

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%
Jeff Davis Bancshares's top markets include Lake Charles, Lafayette, Baton Rouge, Opelousas, and New Orleans among others.

Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 118 $14,500,000 $122,881 $974 7.75%
    Home Purchase 94 $18,020,000 $191,702 $1,903 7.78%
    Home Improvement 21 $2,425,000 $115,476 $1,591 7.86%
    Other 9 $935,000 $103,889 $1,441 8.45%
    Cash Out Refi 7 $335,000 $47,857 $1,755 9.59%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 131 $21,475,000 $163,931 $1,195 7.63%
    20 Year 32 $3,510,000 $109,688 $1,643 8.19%
    30 Year 31 $7,135,000 $230,161 $1,684 7.80%
    15 Year 27 $1,565,000 $57,963 $1,315 7.98%
    10 Year 19 $985,000 $51,842 $1,087 8.59%
    Other 8 $1,470,000 $183,750 $1,613 8.01%
    3 Year 1 $75,000 $75,000 $0 8.30%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 151 $7,165,000 $47,450 $1,453 8.03%
    $100k-200k 56 $7,950,000 $141,964 $1,526 7.70%
    $200k-400k 26 $7,030,000 $270,385 $1,644 7.42%
    $600k-1MM 7 $5,145,000 $735,000 $2,865 7.17%
    $400k-600k 5 $2,275,000 $455,000 $1,094 7.70%
    $1MM+ 4 $6,650,000 $1,662,500 $0 7.19%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 44 $4,190,000 $95,227 $1,146 8.16%
    $50k or less 32 $2,260,000 $70,625 $1,815 8.18%
    $50k-75k 30 $2,780,000 $92,667 $1,453 8.06%
    $150k-250k 22 $3,090,000 $140,455 $2,019 7.76%
    $75k-100k 21 $2,135,000 $101,667 $1,127 8.18%
    $250k+ 10 $1,810,000 $181,000 $2,334 7.62%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 30 $2,640,000 $88,000 $1,697 8.14%
    30-36% 29 $2,575,000 $88,793 $1,952 8.08%
    <20% 27 $1,915,000 $70,926 $1,536 7.81%
    >60% 15 $2,275,000 $151,667 $966 7.55%
    37% 9 $755,000 $83,889 $1,868 8.31%
    42% 8 $1,990,000 $248,750 $1,525 8.34%
    50-60% 7 $895,000 $127,857 $1,806 7.91%
    36% 5 $405,000 $81,000 $1,050 8.73%
    47% 4 $310,000 $77,500 $0 7.95%
    40% 4 $400,000 $100,000 $1,410 8.36%
    43% 4 $570,000 $142,500 $1,157 7.57%
    38% 4 $290,000 $72,500 $1,770 7.50%
    46% 3 $435,000 $145,000 $875 8.28%
    41% 3 $105,000 $35,000 $1,076 8.77%
    49% 3 $325,000 $108,333 $407 8.07%
    39% 2 $370,000 $185,000 $485 9.00%
    48% 1 $25,000 $25,000 $875 8.75%
    44% 1 $75,000 $75,000 $1,610 7.75%
    45% 1 $35,000 $35,000 $0 7.46%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 88 $19,760,000 $224,545 $0 7.50%
    White 134 $14,150,000 $105,597 $1,496 8.05%
    Black 24 $1,970,000 $82,083 $1,640 8.03%
    Asian 2 $190,000 $95,000 $0 8.00%
    Native Hawaiian or Islander 1 $145,000 $145,000 $0 9.30%

    Approval Rates

    Total approvals of all applications
    85.64%

    Jeff Davis Bancshares has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.09%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    249 $36,215,000 $145,442

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 47 $4,285,000 $91,170 $1,323 7.91%
    40-60% 47 $4,655,000 $99,043 $1,366 7.85%
    60-80% 86 $15,190,000 $176,628 $1,768 7.80%
    80-100% 44 $9,470,000 $215,227 $1,803 7.92%
    Over 100% 3 $1,275,000 $425,000 $0 8.02%
    Under 20% 22 $1,340,000 $60,909 $1,120 7.81%