Carter Bank & Trust Mortgage Rates, Fees & Info
Martinsville, VALEI: 549300SO0M022D8D8358
Tax ID: 20-5539935
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Mortgage Data
Review & Overview
Carter 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.25% | 11/21/24 |
| 30 Year Conventional Purchase | 6.98% | 11/21/24 |
| 30 Year Conventional Refi | 7.00% | 11/21/24 |
| 15 Year Conventional Purchase | 6.90% | 11/21/24 |
| 15 Year Conventional Refi | 6.37% | 11/21/24 |
| 15 Year Cash-out Refi | 6.37% | 11/21/24 |
| 15 Year VA Refi | 5.68% | 11/21/24 |
| 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. | ||
Carter Bank & Trust Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
405Origination Dollar Volume (All Markets)
$251,505,000Top 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 |
|---|---|---|---|---|---|
| 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% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 296 | $38,300,000 | $129,392 | n/a | 4.64% |
| Conventional | 109 | $213,205,000 | $1,956,009 | $3,902 | 4.71% |
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.
Loan Reason
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.
Loan Duration/Length
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 |
|---|---|---|---|
| $1k-2k | 37 | $12,155,000 | $328,514 |
| $<1k | 3 | $445,000 | $148,333 |
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.
Interest Rates
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.
Loan Sizing
2022 saw Carter Bank & Trust place emphasis on $100,000 or less loans with 142 originations, totaling $7,950,000 in origination value.
Applicant Income
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.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.50%
Carter Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination90.12%
Carter Bank & Trust has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 405 | $251,505,000 | $621,000 |