Bankplus Mortgage Rates, Fees & Info

Belzoni, MS

LEI: 549300SFG15JDKI5MD22

Tax ID: 64-0134513

5 stars - out of 5 stars, based on 52 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Bankplus is a smaller bank specializing in Home Purchase and Refi loans. Bankplus has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Jackson, New Orleans, Memphis, Tupelo, and Oxford among others. We have data for 70 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bankplus has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bankplus 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 about average 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
    Home Equity Line of Credit (HELOC) 3.02% 3/23/23
    30 Year Conventional Purchase 6.54% 3/23/23
    30 Year Conventional Refi 6.48% 3/23/23
    30 Year Cash-out Refi 6.62% 3/23/23
    30 Year FHA Purchase 7.18% 3/23/23
    30 Year FHA Refi 7.23% 3/23/23
    30 Year VA Purchase 6.16% 3/23/23
    30 Year USDA Purchase 6.90% 3/23/23
    15 Year Conventional Purchase 6.13% 3/23/23
    15 Year Conventional Refi 6.01% 3/23/23
    15 Year Cash-out Refi 6.01% 3/23/23
    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.


    Originations

    2,733

    Origination Dollar Volume (All Markets)

    $789,355,000
    Show all (19) awards

    Relative Rate

    Bankplus's average 30 year fixed mortgage rate was 5.01%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.25%.

    Relative Fees (Closing Costs)

    Bankplus's average total fees/closing costs for a 30 year fixed rate mortgage were $4,487.

    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 $4,750.

    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
    JACKSON, MS (FHA|USDA|VA) 1,119 $280,865,000 $250,996 $3,485 4.06%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 174 $119,240,000 $685,287 $3,995 4.02%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 171 $42,715,000 $249,795 $4,011 3.09%
    Tupelo, MS (FHA|USDA|VA) 165 $40,365,000 $244,636 $2,711 3.94%
    Oxford, MS (FHA|USDA|VA) 84 $38,150,000 $454,167 $3,926 4.50%
    Outside of Metro Areas 180 $31,580,000 $175,444 $2,624 4.84%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 32 $25,800,000 $806,250 $3,687 3.63%
    BATON ROUGE, LA (FHA|USDA|VA) 86 $24,950,000 $290,116 $3,339 4.92%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 43 $22,975,000 $534,302 $8,054 4.99%
    Picayune, MS (FHA|USDA|VA) 87 $13,495,000 $155,115 $3,069 4.23%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $13,255,000 $13,255,000 $0 5.82%
    PANAMA CITY, FL (FHA|USDA|VA) 29 $10,725,000 $369,828 $7,368 5.52%
    Meridian, MS (FHA|USDA|VA) 92 $9,770,000 $106,196 $2,118 5.13%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 37 $8,845,000 $239,054 $3,873 4.78%
    MOBILE, AL (FHA|USDA|VA) 36 $8,620,000 $239,444 $3,936 2.74%
    Brookhaven, MS (FHA|USDA|VA) 56 $8,300,000 $148,214 $2,380 3.10%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 18 $7,340,000 $407,778 $2,537 4.13%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 11 $7,165,000 $651,364 $6,508 3.95%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 8 $6,030,000 $753,750 $5,599 5.62%
    Grenada, MS (FHA|USDA|VA) 42 $5,380,000 $128,095 $2,274 4.66%
    HAMMOND, LA (FHA|USDA|VA) 19 $5,205,000 $273,947 $4,338 5.12%
    DOTHAN, AL (FHA|USDA|VA) 32 $5,170,000 $161,563 $2,437 4.54%
    Enterprise, AL (FHA|USDA|VA) 21 $4,745,000 $225,952 $5,311 4.27%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 7 $4,595,000 $656,429 $3,424 4.74%
    Starkville, MS (FHA|USDA|VA) 13 $3,805,000 $292,692 $3,984 4.98%
    Greenwood, MS (FHA|USDA|VA) 30 $3,420,000 $114,000 $3,338 3.79%
    Laurel, MS (FHA|USDA|VA) 12 $2,980,000 $248,333 $2,953 4.23%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 4 $2,310,000 $577,500 $9,237 5.19%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 4 $2,180,000 $545,000 $4,579 4.03%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $2,150,000 $1,075,000 $9,022 4.20%
    Corinth, MS (FHA|USDA|VA) 4 $1,970,000 $492,500 $3,037 4.88%
    LAFAYETTE, LA (FHA|USDA|VA) 6 $1,920,000 $320,000 $5,241 4.37%
    HATTIESBURG, MS (FHA|USDA|VA) 9 $1,885,000 $209,444 $3,818 4.61%
    Vicksburg, MS (FHA|USDA|VA) 9 $1,785,000 $198,333 $5,259 5.29%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 5 $1,745,000 $349,000 $3,866 2.99%
    Cleveland, MS (FHA|USDA|VA) 14 $1,690,000 $120,714 $3,540 4.60%
    McComb, MS (FHA|USDA|VA) 15 $1,265,000 $84,333 $2,549 4.97%
    JOHNSON CITY, TN (FHA|USDA|VA) 2 $1,120,000 $560,000 $4,241 3.60%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,030,000 $515,000 $4,902 4.54%
    TUSCALOOSA, AL (FHA|USDA|VA) 4 $890,000 $222,500 $3,107 4.31%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $825,000 $825,000 $0 4.75%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $755,000 $755,000 $3,960 6.00%
    Columbus, MS (FHA|USDA|VA) 2 $680,000 $340,000 $3,695 4.47%
    LAKE CHARLES, LA (FHA|USDA|VA) 2 $650,000 $325,000 $0 4.75%
    Key West, FL (FHA|USDA|VA) 1 $645,000 $645,000 $4,052 3.25%
    Ozark, AL (FHA|USDA|VA) 3 $635,000 $211,667 $6,136 3.21%
    AMARILLO, TX (FHA|USDA|VA) 1 $625,000 $625,000 $7,485 3.85%
    Indianola, MS (FHA|USDA|VA) 4 $610,000 $152,500 $2,534 4.06%
    Sevierville, TN (FHA|USDA|VA) 1 $575,000 $575,000 $0 3.75%
    HOUMA-THIBODAUX, LA (FHA|USDA|VA) 3 $565,000 $188,333 $2,083 4.28%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $545,000 $545,000 $2,740 3.15%
    MONROE, LA (FHA|USDA|VA) 1 $505,000 $505,000 $3,067 5.50%
    Greenville, MS (FHA|USDA|VA) 4 $460,000 $115,000 $2,995 4.94%
    Opelousas, LA (FHA|USDA|VA) 6 $350,000 $58,333 $1,368 3.98%
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $345,000 $345,000 $3,228 3.15%
    BILLINGS, MT (FHA|USDA|VA) 1 $335,000 $335,000 $3,924 3.15%
    Alexander City, AL (FHA|USDA|VA) 1 $305,000 $305,000 $7,694 7.25%
    Cullman, AL (FHA|USDA|VA) 1 $305,000 $305,000 $19,354 3.88%
    DECATUR, AL (FHA|USDA|VA) 1 $275,000 $275,000 $0 6.50%
    Albertville, AL (FHA|USDA|VA) 1 $255,000 $255,000 $0 4.00%
    BOWLING GREEN, KY (FHA|USDA|VA) 1 $235,000 $235,000 $4,761 5.63%
    West Point, MS (FHA|USDA|VA) 1 $225,000 $225,000 $1,708 3.63%
    HUNTSVILLE, AL (FHA|USDA|VA) 1 $225,000 $225,000 $2,680 4.38%
    Jackson, WY-ID (FHA|USDA|VA) 1 $205,000 $205,000 $0 4.00%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $175,000 $175,000 $4,079 3.95%
    FAYETTEVILLE, NC (FHA|USDA|VA) 2 $170,000 $85,000 $3,439 5.44%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $165,000 $165,000 $2,382 4.20%
    Forest City, NC (FHA|USDA|VA) 1 $105,000 $105,000 $3,679 5.38%
    Natchez, MS-LA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Troy, AL (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Bankplus's top markets include Jackson, New Orleans, Memphis, Tupelo, and Oxford among others.

    Their top states include:
  • Mississippi (FHA|USDA|VA)
  • Louisiana (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Similar Lenders

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

    RIVERTRUST Federal Credit Union
    Similarity Rank: 96
    AVADIAN
    Similarity Rank: 777
    CB&S Bank, Inc.
    Similarity Rank: 840
    Financial Federal Bank
    Similarity Rank: 987
    Leaders Credit Union
    Similarity Rank: 1085
    The Citizens National Bank of Meridian
    Similarity Rank: 1155
    APCO EMPLOYEES
    Similarity Rank: 1350
    Tyndall Federal Credit Union
    Similarity Rank: 1352
    First Citizens National Bank
    Similarity Rank: 1470
    Hamilton Mortgage Corporation
    Similarity Rank: 1856

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,820 $661,310,000 $363,357 $3,434 5.07%
    HELOC 832 $109,080,000 $131,106 n/a 2.17%
    FHA 56 $11,690,000 $208,750 $6,099 4.65%
    VA 16 $5,510,000 $344,375 $7,130 4.66%
    USDA 9 $1,765,000 $196,111 $4,170 4.94%

    For 2022, Bankplus's most frequently originated type of loan was Conventional, with 1,820 originations. Their 2nd most popular type was HELOC, with 832 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,255 $485,875,000 $387,151 $4,124 4.78%
    Refi 897 $228,655,000 $254,911 $2,441 5.02%
    Home Improvement 330 $33,060,000 $100,182 $1,612 1.33%
    Other 201 $23,645,000 $117,637 $2,820 1.30%
    Cash Out Refi 50 $18,120,000 $362,400 $3,768 4.18%

    For 2022, Bankplus's most frequently cited loan purpose was Home Purchase, with 1,255 originations. The 2nd most popular reason was Refi, with 897 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 1,531 $347,485,000 $226,966 $2,641 3.47%
    30 Year 629 $228,575,000 $363,394 $4,487 5.01%
    5 Year 348 $136,500,000 $392,241 $1,042 5.45%
    15 Year 89 $26,675,000 $299,719 $4,102 3.87%
    1 Year 73 $20,555,000 $281,575 $2,800 5.39%
    3 Year 28 $18,540,000 $662,143 $901 5.52%
    20 Year 18 $5,030,000 $279,444 $3,447 4.18%
    10 Year 17 $5,995,000 $352,647 $3,543 4.33%

    For 2022, Bankplus's most frequently cited loan duration was Other, with 1,531 originations. The 2nd most popular length was 30 Year, with 629 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 715 $200,035,000 $279,769
    $1k-2k 374 $107,630,000 $287,781
    $2k-3k 129 $47,055,000 $364,767
    $3k-4k 55 $22,285,000 $405,182
    $5k+ 51 $26,355,000 $516,765
    $4k-5k 32 $11,540,000 $360,625

    Bankplus's average total fees were $4,487, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 715 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 618 $213,280,000 $345,113
    3-4% 597 $256,825,000 $430,193
    5-6% 505 $142,495,000 $282,168
    <2.5% 487 $69,445,000 $142,598
    6-7% 321 $70,175,000 $218,614
    7-8% 97 $14,505,000 $149,536
    Over 8% 72 $5,130,000 $71,250
    2.5-3% 36 $17,500,000 $486,111

    During 2022, Bankplus's average interest rate for loans was 5.01%, while their most frequently originated rate bucket for loans was 4-5%, with 618 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 958 $50,130,000 $52,328 $1,642 3.85%
    $200k-400k 730 $204,520,000 $280,164 $3,852 4.39%
    $100k-200k 570 $81,540,000 $143,053 $2,809 4.26%
    $400k-600k 228 $110,710,000 $485,570 $5,091 4.37%
    $600k-1MM 170 $123,710,000 $727,706 $5,223 4.45%
    $1MM+ 77 $218,745,000 $2,840,844 $6,979 4.32%

    2022 saw Bankplus place emphasis on $100,000 or less loans with 958 originations, totaling $50,130,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 455 $110,895,000 $243,725 $3,733 3.70%
    $100k-150k 454 $89,370,000 $196,850 $4,069 3.71%
    $250k+ 454 $199,310,000 $439,009 $4,755 3.84%
    $50k-75k 343 $49,095,000 $143,134 $3,095 4.44%
    $75k-100k 302 $47,860,000 $158,477 $3,066 4.40%
    $50k or less 254 $19,660,000 $77,402 $2,187 4.71%

    Bankplus lent most frequently to those with incomes in the $150k-250k range, with 455 originations. The second most popular income band? $100k-150k, with 454 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 541 $117,035,000 $216,331 $3,180 3.91%
    30-36% 409 $96,805,000 $236,687 $3,539 3.86%
    <20% 377 $83,195,000 $220,676 $3,337 3.85%
    37% 85 $24,345,000 $286,412 $4,235 4.39%
    41% 82 $16,750,000 $204,268 $3,930 4.34%
    44% 77 $16,025,000 $208,117 $4,513 3.57%
    50-60% 76 $15,880,000 $208,947 $3,388 4.73%
    40% 74 $17,710,000 $239,324 $3,592 4.44%
    >60% 71 $13,325,000 $187,676 $2,400 5.31%
    42% 71 $21,985,000 $309,648 $4,480 4.36%
    38% 70 $15,120,000 $216,000 $4,064 3.51%
    43% 67 $11,765,000 $175,597 $3,188 3.46%
    39% 62 $14,690,000 $236,935 $3,493 3.96%
    36% 61 $17,575,000 $288,115 $4,161 3.95%
    45% 40 $8,780,000 $219,500 $3,143 4.59%
    47% 32 $9,550,000 $298,438 $4,697 4.97%
    49% 26 $8,100,000 $311,538 $5,642 4.53%
    46% 22 $6,860,000 $311,818 $4,686 4.47%
    48% 20 $4,510,000 $225,500 $6,081 4.44%

    Bankplus lent most frequently to those with DTI ratios of 20-30%, with 541 originations. The next most common DTI ratio? 30-36%, with 409 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,849 $427,685,000 $231,306 $3,536 3.94%
    Not applicable 384 $253,310,000 $659,661 $0 5.11%
    Not provided 183 $60,765,000 $332,049 $4,494 3.73%
    Black 270 $36,510,000 $135,222 $3,229 4.76%
    Asian 32 $7,430,000 $232,188 $3,438 4.20%
    American Indian 4 $1,370,000 $342,500 $4,399 5.28%
    Asian Indian 6 $1,130,000 $188,333 $2,634 4.11%
    Native Hawaiian or Islander 1 $405,000 $405,000 $2,313 6.25%
    Other Pacific Islander 1 $385,000 $385,000 $1,584 5.63%
    Vietnamese 1 $175,000 $175,000 $0 3.50%
    Korean 1 $105,000 $105,000 $0 0.00%
    Filipino 1 $85,000 $85,000 $3,059 4.75%

    Approval Rates

    Total approvals of all applications
    91.01%

    Bankplus has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.36%

    Bankplus has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    105.0 3 $55,000 $18,333
    196.0 2 $30,000 $15,000
    446.0 1 $25,000 $25,000
    469.49 1 $25,000 $25,000
    80.0 1 $5,000 $5,000
    868.97 1 $65,000 $65,000
    NA 2,724 $789,150,000 $289,703

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,733 $789,355,000 $288,824

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 449 $67,855,000 $151,125 $2,431 3.23%
    40-60% 392 $125,600,000 $320,408 $3,139 4.34%
    60-80% 716 $280,630,000 $391,941 $4,008 4.94%
    80-100% 712 $250,330,000 $351,587 $3,935 4.81%
    Over 100% 70 $28,790,000 $411,286 $3,782 3.82%
    Under 20% 394 $36,150,000 $91,751 $1,383 2.60%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    BANK OF AMERICA, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Trouble during payment process 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 20.0%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 7 46.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION FHA mortgage Struggling to pay mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 6.7%