Palmetto State Bank Mortgage Rates, Fees & Info

Hampton, SC

LEI: 549300RV76T00EYJVR19

Tax ID: 57-0200135

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Palmetto State Bank is a smaller bank specializing in Home Purchase loans. Palmetto State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Hilton Head Island, Charleston, Georgetown, and Columbia among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Palmetto State Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

    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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    Originations

    83

    Origination Dollar Volume (All Markets)

    $22,045,000

    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
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 26 $14,680,000 $564,615 $0 0.00%
    Outside of Metro Areas 52 $6,060,000 $116,538 $0 0.00%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 3 $885,000 $295,000 $0 0.00%
    Georgetown, SC (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    COLUMBIA, SC (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    Palmetto State Bank's top markets include Hilton Head Island, Charleston, Georgetown, and Columbia among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 83 $22,045,000 $265,602 $0 0.00%

    For 2024, Palmetto State Bank's most frequently originated type of loan was Conventional, with 83 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 38 $17,130,000 $450,789 $0 0.00%
    Refi 14 $1,120,000 $80,000 $0 0.00%
    Other 13 $1,565,000 $120,385 $0 0.00%
    Cash Out Refi 10 $1,470,000 $147,000 $0 0.00%
    Home Improvement 8 $760,000 $95,000 $0 0.00%

    For 2024, Palmetto State Bank's most frequently cited loan purpose was Home Purchase, with 38 originations. The 2nd most popular reason was Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 83 $22,045,000 $265,602 $0 0.00%

    For 2024, Palmetto State Bank's most frequently cited loan duration was Other, with 83 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 36 $1,980,000 $55,000 $0 0.00%
    $200k-400k 20 $5,050,000 $252,500 $0 0.00%
    $100k-200k 13 $1,795,000 $138,077 $0 0.00%
    $400k-600k 7 $3,275,000 $467,857 $0 0.00%
    $1MM+ 6 $9,180,000 $1,530,000 $0 0.00%
    $600k-1MM 1 $765,000 $765,000 $0 0.00%

    2024 saw Palmetto State Bank place emphasis on $100,000 or less loans with 36 originations, totaling $1,980,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 19 $6,495,000 $341,842 $0 0.00%
    $75k-100k 15 $2,135,000 $142,333 $0 0.00%
    $50k or less 14 $860,000 $61,429 $0 0.00%
    $50k-75k 11 $895,000 $81,364 $0 0.00%
    $150k-250k 8 $1,600,000 $200,000 $0 0.00%
    $250k+ 8 $7,090,000 $886,250 $0 0.00%

    Palmetto State Bank lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $75k-100k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 83 $22,045,000 $265,602 $0 0.00%

    Palmetto State Bank lent most frequently to those with DTI ratios of Exempt%, with 83 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 63 $16,505,000 $261,984 $0 0.00%
    Not applicable 8 $2,970,000 $371,250 $0 0.00%
    Not provided 2 $1,570,000 $785,000 $0 0.00%
    Black 10 $1,000,000 $100,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.33%

    Palmetto State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    98.80%

    Palmetto State Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 83 $22,045,000 $265,602

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    83 $22,045,000 $265,602