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
  • 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 Lexington 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 relatively high 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

    86

    Origination Dollar Volume (All Markets)

    $18,750,000

    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) 74 $16,560,000 $223,784 $1,768 5.53%
    Bardstown, KY (FHA|USDA|VA) 6 $1,310,000 $218,333 $1,978 6.00%
    Outside of Metro Areas 3 $505,000 $168,333 $1,827 6.17%
    Frankfort, KY (FHA|USDA|VA) 2 $240,000 $120,000 $1,712 4.25%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $135,000 $135,000 $0 5.25%
    The Peoples Bank's top markets include Louisville, Bardstown, Frankfort, and Lexington among others.

    Their top states include:
  • Kentucky (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.

    Commonwealth Bank and Trust Company
    Similarity Rank: 133
    The Peoples Bank
    Similarity Rank: 420
    Guardian Savings Bank, A Federal Savings Bank
    Similarity Rank: 423
    COMMONWEALTH
    Similarity Rank: 425
    INDIANA MEMBERS CREDIT UNION
    Similarity Rank: 442
    TRANSCEND
    Similarity Rank: 558
    Abound Federal Credit Union
    Similarity Rank: 561
    Forcht Bank
    Similarity Rank: 980
    VILLAGE CAPITAL MORTGAGE
    Similarity Rank: 1188
    Central Bank
    Similarity Rank: 1260

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 86 $18,750,000 $218,023 $1,781 5.55%

    For 2022, The Peoples Bank's most frequently originated type of loan was Conventional, with 86 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 61 $15,495,000 $254,016 $1,946 5.34%
    Refi 16 $2,270,000 $141,875 $1,454 6.64%
    Home Improvement 4 $310,000 $77,500 $1,216 5.79%
    Other 4 $520,000 $130,000 $1,632 4.79%
    Cash Out Refi 1 $155,000 $155,000 $1,706 3.38%

    For 2022, The Peoples Bank's most frequently cited loan purpose was Home Purchase, with 61 originations. The 2nd most popular reason was Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 33 $8,785,000 $266,212 $2,015 5.22%
    10 Year 13 $1,575,000 $121,154 $1,376 6.58%
    1 Year 11 $1,745,000 $158,636 $2,206 5.66%
    20 Year 9 $1,875,000 $208,333 $1,587 4.85%
    Other 9 $3,065,000 $340,556 $1,452 6.22%
    15 Year 6 $1,160,000 $193,333 $1,824 4.44%
    5 Year 3 $305,000 $101,667 $1,199 6.25%
    3 Year 2 $240,000 $120,000 $1,874 6.20%

    For 2022, The Peoples Bank's most frequently cited loan duration was 30 Year, with 33 originations. The 2nd most popular length was 10 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 60 $12,100,000 $201,667
    $1k-2k 7 $1,425,000 $203,571

    The Peoples Bank's average total fees were $2,015, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 60 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 26 $4,600,000 $176,923
    6-7% 20 $3,680,000 $184,000
    3-4% 15 $3,355,000 $223,667
    4-5% 14 $4,830,000 $345,000
    7-8% 10 $2,080,000 $208,000
    2.5-3% 1 $205,000 $205,000

    During 2022, The Peoples Bank's average interest rate for loans was 5.22%, while their most frequently originated rate bucket for loans was 5-6%, with 26 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 34 $4,920,000 $144,706 $1,614 5.47%
    $200k-400k 31 $8,225,000 $265,323 $2,065 5.34%
    $100,000 or less 15 $1,085,000 $72,333 $1,191 6.17%
    $400k-600k 3 $1,385,000 $461,667 $2,538 5.88%
    $600k-1MM 2 $1,230,000 $615,000 $2,941 5.69%
    $1MM+ 1 $1,905,000 $1,905,000 $0 4.50%

    2022 saw The Peoples Bank place emphasis on $100k-200k loans with 34 originations, totaling $4,920,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 21 $3,025,000 $144,048 $1,580 5.68%
    $100k-150k 20 $5,220,000 $261,000 $2,038 5.68%
    $75k-100k 16 $2,730,000 $170,625 $1,700 5.84%
    $50k or less 9 $1,335,000 $148,333 $1,664 4.97%
    $150k-250k 6 $1,650,000 $275,000 $2,016 6.15%
    $250k+ 4 $1,350,000 $337,500 $1,934 4.41%

    The Peoples Bank lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $100k-150k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 19 $3,085,000 $162,368 $1,640 5.81%
    30-36% 11 $1,785,000 $162,273 $1,592 5.56%
    <20% 5 $1,015,000 $203,000 $1,759 4.95%
    >60% 5 $935,000 $187,000 $1,873 6.43%
    37% 4 $1,000,000 $250,000 $1,972 5.75%
    41% 4 $840,000 $210,000 $1,671 5.57%
    44% 4 $1,320,000 $330,000 $2,122 5.53%
    50-60% 3 $635,000 $211,667 $1,767 4.33%
    42% 2 $210,000 $105,000 $1,585 5.63%
    43% 2 $750,000 $375,000 $2,317 6.13%
    40% 2 $430,000 $215,000 $1,959 5.13%
    45% 2 $520,000 $260,000 $1,983 4.81%
    39% 1 $195,000 $195,000 $1,860 5.38%
    46% 1 $215,000 $215,000 $1,822 3.88%
    47% 1 $135,000 $135,000 $1,627 4.75%
    48% 1 $205,000 $205,000 $1,855 7.25%
    38% 1 $255,000 $255,000 $2,208 5.75%
    36% 1 $325,000 $325,000 $2,376 7.00%

    The Peoples Bank lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? 30-36%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 74 $14,680,000 $198,378 $1,767 5.60%
    Not applicable 10 $3,440,000 $344,000 $0 5.18%
    Not provided 2 $630,000 $315,000 $2,221 5.75%

    Approval Rates

    Total approvals of all applications
    89.15%

    The Peoples Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    66.28%

    The Peoples Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 86 $18,750,000 $218,023

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    86 $18,750,000 $218,023

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $1,805,000 $138,846 $1,525 5.80%
    40-60% 19 $5,405,000 $284,474 $1,790 5.30%
    60-80% 34 $7,870,000 $231,471 $1,888 5.63%
    80-100% 15 $3,325,000 $221,667 $2,025 5.39%
    Under 20% 5 $345,000 $69,000 $1,270 5.82%