Palmetto State Bank Mortgage Rates, Fees & Info
Hampton, SCLEI: 549300RV76T00EYJVR19
Tax ID: 57-0200135
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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, Savannah, Atlanta, Columbia, and Charleston among others. We have data for 8 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.
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Originations
122Origination Dollar Volume (All Markets)
$31,380,000Top 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) | 60 | $23,380,000 | $389,667 | $0 | 0.00% |
| Outside of Metro Areas | 50 | $4,710,000 | $94,200 | $0 | 0.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 5 | $1,605,000 | $321,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $0 | 0.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 0.00% |
| SPARTANBURG, SC (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 0.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 122 | $31,380,000 | $257,213 | $0 | 0.00% |
For 2022, Palmetto State Bank's most frequently originated type of loan was Conventional, with 122 originations.
Loan Reason
For 2022, Palmetto State Bank's most frequently cited loan purpose was Home Purchase, with 66 originations. The 2nd most popular reason was Refi, with 22 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 122 | $31,380,000 | $257,213 | $0 | 0.00% |
For 2022, Palmetto State Bank's most frequently cited loan duration was Other, with 122 originations.
Loan Sizing
2022 saw Palmetto State Bank place emphasis on $100k-200k loans with 36 originations, totaling $4,940,000 in origination value.
Applicant Income
Palmetto State Bank lent most frequently to those with incomes in the $75k-100k range, with 27 originations. The second most popular income band? $50k-75k, with 22 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 122 | $31,380,000 | $257,213 | $0 | 0.00% |
Palmetto State Bank lent most frequently to those with DTI ratios of Exempt%, with 122 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.57%
Palmetto State Bank has an average approval rate.
Pick Rate
Approvals leading to origination92.62%
Palmetto State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 122 | $31,380,000 | $257,213 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PLANET HOME LENDING, LLC | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| PLANET HOME LENDING, LLC | FHA mortgage | Trouble during payment process | 1 | 50.0% |