The Peoples Bank Mortgage Rates, Fees & Info

Taylorsville, KY

LEI: 549300SUOO1RFWRM7N78

Tax ID: 61-0305730

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

    The Peoples Bank is a smaller bank specializing in Home Purchase loans. The Peoples Bank has a high proportion of conventional loans. Their top markets by origination volume include: Louisville, Bardstown, Frankfort, and Elizabethtown among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Peoples Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. The Peoples Bank 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.67% 4/21/24
    30 Year Conventional Refi 6.52% 4/21/24
    30 Year Cash-out Refi 6.93% 4/21/24
    15 Year Conventional Purchase 6.13% 4/21/24
    15 Year Conventional Refi 5.68% 4/21/24
    15 Year Cash-out Refi 5.68% 4/21/24
    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.

    The Peoples Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from The Peoples Bank. 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

    76

    Origination Dollar Volume (All Markets)

    $11,460,000

    Awards

    The Peoples Bank 30 Year Conventional Loans gold The Peoples Bank 30 Year Conventional Loans gold
    Show all (2) 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
    LOUISVILLE, KY (FHA|USDA|VA) 70 $10,380,000 $148,286 $1,616 5.30%
    Bardstown, KY (FHA|USDA|VA) 3 $545,000 $181,667 $1,702 3.79%
    Outside of Metro Areas 1 $335,000 $335,000 $3,035 4.25%
    Frankfort, KY (FHA|USDA|VA) 1 $115,000 $115,000 $1,636 4.25%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 1 $85,000 $85,000 $1,228 6.60%
    The Peoples Bank's top markets include Louisville, Bardstown, Frankfort, and Elizabethtown among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Similar Lenders

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

    Guardian Savings Bank, A Federal Savings Bank
    Similarity Rank: 360
    Advanz Federal Credit Union
    Similarity Rank: 360
    The Peoples Bank
    Similarity Rank: 400
    COMMONWEALTH
    Similarity Rank: 408
    TRANSCEND
    Similarity Rank: 702
    Abound Federal Credit Union
    Similarity Rank: 752
    PARK COMMUNITY CREDIT UNION, INC.
    Similarity Rank: 912
    SOVEREIGN LENDING GROUP INCORPORATED
    Similarity Rank: 1182
    First Harrison Bank
    Similarity Rank: 1287
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1392

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 76 $11,460,000 $150,789 $1,639 5.23%

    For 2019, The Peoples Bank's most frequently originated type of loan was Conventional, with 76 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 46 $8,050,000 $175,000 $1,700 5.24%
    Refi 18 $1,720,000 $95,556 $1,472 5.64%
    Cash Out Refi 8 $1,230,000 $153,750 $1,631 4.34%
    Home Improvement 2 $50,000 $25,000 $1,315 4.81%
    Other 2 $410,000 $205,000 $2,037 5.43%

    For 2019, The Peoples Bank's most frequently cited loan purpose was Home Purchase, with 46 originations. The 2nd most popular reason was Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 33 $6,495,000 $196,818 $1,793 4.37%
    10 Year 11 $1,125,000 $102,273 $1,195 7.13%
    15 Year 10 $1,450,000 $145,000 $1,652 4.18%
    1 Year 9 $975,000 $108,333 $1,422 6.28%
    5 Year 6 $520,000 $86,667 $0 6.71%
    20 Year 5 $735,000 $147,000 $1,687 4.75%
    3 Year 1 $115,000 $115,000 $0 6.50%
    Other 1 $45,000 $45,000 $920 6.40%

    For 2019, The Peoples Bank's most frequently cited loan duration was 30 Year, with 33 originations. The 2nd most popular length was 10 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 56 $9,050,000 $161,607

    The Peoples Bank's average total fees were $1,793, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 56 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 23 $4,675,000 $203,261
    6-7% 20 $1,650,000 $82,500
    3-4% 19 $3,035,000 $159,737
    5-6% 8 $1,610,000 $201,250
    7-8% 3 $345,000 $115,000
    Over 8% 3 $145,000 $48,333

    During 2019, The Peoples Bank's average interest rate for loans was 4.37%, while their most frequently originated rate bucket for loans was 4-5%, with 23 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 32 $4,600,000 $143,750 $1,606 4.99%
    $100,000 or less 24 $1,390,000 $57,917 $1,268 6.14%
    $200k-400k 20 $5,470,000 $273,500 $1,993 4.53%

    2019 saw The Peoples Bank place emphasis on $100k-200k loans with 32 originations, totaling $4,600,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 17 $3,275,000 $192,647 $1,726 5.07%
    $50k-75k 17 $1,815,000 $106,765 $1,454 5.61%
    $75k-100k 16 $2,540,000 $158,750 $1,573 5.19%
    $150k-250k 8 $1,730,000 $216,250 $1,943 4.59%
    $50k or less 8 $1,000,000 $125,000 $1,672 4.87%

    The Peoples Bank lent most frequently to those with incomes in the $100k-150k range, with 17 originations. The second most popular income band? $50k-75k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 18 $3,040,000 $168,889 $1,741 4.48%
    30-36% 14 $2,630,000 $187,857 $1,674 4.99%
    <20% 9 $915,000 $101,667 $1,342 4.99%
    39% 3 $505,000 $168,333 $2,029 5.45%
    44% 3 $395,000 $131,667 $1,357 5.33%
    41% 2 $290,000 $145,000 $1,471 5.68%
    46% 2 $260,000 $130,000 $1,572 3.75%
    40% 1 $155,000 $155,000 $1,658 4.25%
    50-60% 1 $245,000 $245,000 $1,881 4.13%
    49% 1 $315,000 $315,000 $2,073 4.50%
    38% 1 $275,000 $275,000 $1,933 3.25%
    37% 1 $65,000 $65,000 $988 8.50%
    36% 1 $215,000 $215,000 $1,800 5.88%

    The Peoples Bank lent most frequently to those with DTI ratios of 20-30%, with 18 originations. The next most common DTI ratio? 30-36%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 70 $10,630,000 $151,857 $1,639 5.16%
    Not applicable 6 $830,000 $138,333 $0 6.13%

    Approval Rates

    Total approvals of all applications
    87.96%

    The Peoples Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.00%

    The Peoples Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 76 $11,460,000 $150,789

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $325,000 $325,000
    Single Family (1-4 Units):Manufactured 13 $1,195,000 $91,923
    Single Family (1-4 Units):Site-Built 62 $9,940,000 $160,323

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $600,000 $75,000 $1,520 5.26%
    40-60% 9 $1,415,000 $157,222 $1,674 4.82%
    60-80% 37 $5,285,000 $142,838 $1,655 5.19%
    80-100% 19 $4,065,000 $213,947 $1,724 5.49%
    Under 20% 3 $95,000 $31,667 $1,117 5.34%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    TOP FLITE FINANCIAL INC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    TOP FLITE FINANCIAL INC FHA mortgage Closing on a mortgage 1 33.3%
    TOP FLITE FINANCIAL INC VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%