Bankplus Mortgage Rates, Fees & Info

Belzoni, MS

LEI: 549300SFG15JDKI5MD22

Tax ID: 64-0134513

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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% 12/16/24
    30 Year Conventional Purchase 6.54% 12/16/24
    30 Year Conventional Refi 6.48% 12/16/24
    30 Year Cash-out Refi 6.62% 12/16/24
    30 Year FHA Purchase 7.18% 12/16/24
    30 Year FHA Refi 7.23% 12/16/24
    30 Year VA Purchase 6.16% 12/16/24
    30 Year USDA Purchase 6.90% 12/16/24
    15 Year Conventional Purchase 6.13% 12/16/24
    15 Year Conventional Refi 6.01% 12/16/24
    15 Year Cash-out Refi 6.01% 12/16/24
    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.

    Bankplus Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Bankplus. 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

    2,733

    Origination Dollar Volume (All Markets)

    $789,355,000
    Show all (9) awards

    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: 72
    Jefferson Parish Employees FCU
    Similarity Rank: 90
    New Horizons Credit Union
    Similarity Rank: 140
    JEFFERSON FINANCIAL
    Similarity Rank: 169
    Eureka Homestead
    Similarity Rank: 295
    Midwest BankCentre
    Similarity Rank: 350
    AMERICA'S FIRST
    Similarity Rank: 391
    America's Mortgage Resource, Inc.
    Similarity Rank: 570
    Financial Federal Bank
    Similarity Rank: 672
    SmartBank
    Similarity Rank: 720

    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%