Carter Bank & Trust Mortgage Rates, Fees & InfoMartinsville, VA
Tax ID: 20-5539935
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewCarter Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. Carter Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Richmond, Fayetteville, Spartanburg, and Sumter among others. We have data for 32 markets. (Some data included below & more in-depth data is available with an active subscription.)
Carter Bank & Trust has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Carter Bank & Trust is typically an average 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.
|Simulated Rate||Simulation Date|
|Home Equity Line of Credit (HELOC)||5.25%||3/31/23|
|30 Year Conventional Purchase||6.98%||3/31/23|
|30 Year Conventional Refi||7.00%||3/31/23|
|15 Year Conventional Purchase||6.90%||3/31/23|
|15 Year Conventional Refi||6.37%||3/31/23|
|15 Year Cash-out Refi||6.37%||3/31/23|
|15 Year VA Refi||5.68%||3/31/23|
|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.|
Origination Dollar Volume (All Markets)$251,505,000
Carter Bank & Trust's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.09%.
Relative Fees (Closing Costs)
Carter Bank & Trust's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,764.
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.
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|
|CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA)||115||$66,545,000||$578,652||$2,443||4.65%|
|RICHMOND, VA (FHA|USDA|VA)||5||$33,405,000||$6,681,000||$0||4.95%|
|FAYETTEVILLE, NC (FHA|USDA|VA)||4||$27,980,000||$6,995,000||$3,381||4.53%|
|SPARTANBURG, SC (FHA|USDA|VA)||1||$24,005,000||$24,005,000||$0||5.25%|
|SUMTER, SC (FHA|USDA|VA)||1||$15,005,000||$15,005,000||$0||4.15%|
|ROANOKE, VA (FHA|USDA|VA)||35||$12,985,000||$371,000||$3,662||4.25%|
|Henderson, NC (FHA|USDA|VA)||1||$10,875,000||$10,875,000||$0||4.75%|
|DURHAM-CHAPEL HILL, NC (FHA|USDA|VA)||5||$8,125,000||$1,625,000||$3,166||4.03%|
|CHARLOTTESVILLE, VA (FHA|USDA|VA)||42||$7,510,000||$178,810||$4,083||4.98%|
|MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA)||5||$6,825,000||$1,365,000||$5,472||4.38%|
|LYNCHBURG, VA (FHA|USDA|VA)||25||$6,825,000||$273,000||$4,220||4.46%|
|Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA)||10||$6,420,000||$642,000||$0||3.87%|
|BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA)||13||$5,525,000||$425,000||$5,414||4.53%|
|Outside of Metro Areas||41||$4,595,000||$112,073||$4,682||4.51%|
|GREENSBORO-HIGH POINT, NC (FHA|USDA|VA)||22||$4,350,000||$197,727||$3,162||4.66%|
|Danville, VA (FHA|USDA|VA)||19||$2,855,000||$150,263||$2,243||5.17%|
|Martinsville, VA (FHA|USDA|VA)||27||$1,935,000||$71,667||$3,429||4.98%|
|WINSTON-SALEM, NC (FHA|USDA|VA)||4||$730,000||$182,500||$0||5.09%|
|Mount Airy, NC (FHA|USDA|VA)||6||$660,000||$110,000||$0||4.46%|
|Kill Devil Hills, NC (FHA|USDA|VA)||3||$635,000||$211,667||$0||5.42%|
|COLUMBIA, SC (FHA|USDA|VA)||1||$545,000||$545,000||$4,670||5.00%|
|Greenwood, SC (FHA|USDA|VA)||1||$505,000||$505,000||$0||4.00%|
|RALEIGH-CARY, NC (FHA|USDA|VA)||3||$505,000||$168,333||$0||5.92%|
|Sanford, NC (FHA|USDA|VA)||5||$475,000||$95,000||$0||4.00%|
|JACKSONVILLE, NC (FHA|USDA|VA)||1||$385,000||$385,000||$3,455||3.13%|
|ASHEVILLE, NC (FHA|USDA|VA)||2||$340,000||$170,000||$3,742||6.00%|
|HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA)||2||$310,000||$155,000||$0||3.50%|
|Boone, NC (FHA|USDA|VA)||1||$245,000||$245,000||$0||3.25%|
|Forest City, NC (FHA|USDA|VA)||2||$130,000||$65,000||$0||6.38%|
|STAUNTON, VA (FHA|USDA|VA)||1||$125,000||$125,000||$0||5.25%|
|Morehead City, NC (FHA|USDA|VA)||1||$115,000||$115,000||$3,195||5.38%|
|Pinehurst-Southern Pines, NC (FHA|USDA|VA)||1||$35,000||$35,000||$0||5.50%|
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Carter Bank & Trust's most frequently originated type of loan was HELOC, with 296 originations. Their 2nd most popular type was Conventional, with 109 originations.
For 2022, Carter Bank & Trust's most frequently cited loan purpose was Other, with 145 originations. The 2nd most popular reason was Home Improvement, with 99 originations.
For 2022, Carter Bank & Trust's most frequently cited loan duration was 20 Year, with 294 originations. The 2nd most popular length was 10 Year, with 49 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Carter Bank & Trust's average total fees were $4,764, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 37 originations.
During 2022, Carter Bank & Trust's average interest rate for loans was 4.67%, while their most frequently originated rate bucket for loans was 3-4%, with 152 originations.
2022 saw Carter Bank & Trust place emphasis on $100,000 or less loans with 142 originations, totaling $7,950,000 in origination value.
Carter Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 67 originations. The second most popular income band? $150k-250k, with 59 originations.
Applicant Debt to Income Ratio
Carter Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 94 originations. The next most common DTI ratio? 30-36%, with 68 originations.
Approval RatesTotal approvals of all applications
Carter Bank & Trust has an average approval rate.
Pick RateApprovals leading to origination
Carter Bank & Trust has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|