Charter Bank Mortgage Rates, Fees & Info
Pascagoula, MSLEI: 549300U4QV4Y11A08O63
Tax ID: 26-1658489
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Mortgage Data
Review & Overview
Charter Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Charter Bank has a high proportion of conventional loans. Charter Bank has a low ratio of conventional loans. Their top markets by origination volume include: Gulfport, Oxford, Jackson, Daphne, and Hattiesburg among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Charter Bank 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.
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Originations
85Origination Dollar Volume (All Markets)
$10,025,000Top 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 |
---|---|---|---|---|---|
GULFPORT-BILOXI, MS (FHA|USDA|VA) | 72 | $7,360,000 | $102,222 | $0 | 0.00% |
Oxford, MS (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $0 | 0.00% |
JACKSON, MS (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $0 | 0.00% |
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
HATTIESBURG, MS (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 0.00% |
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
Outside of Metro Areas | 1 | $85,000 | $85,000 | $0 | 0.00% |
Picayune, MS (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Meridian, MS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 83 | $9,785,000 | $117,892 | $0 | 0.00% |
Conventional | 2 | $240,000 | $120,000 | $0 | 0.00% |
For 2019, Charter Bank's most frequently originated type of loan was Conventional, with 83 originations. Their 2nd most popular type was Conventional, with 2 originations.
Loan Reason
For 2019, Charter Bank's most frequently cited loan purpose was Home Purchase, with 42 originations. The 2nd most popular reason was Refi, with 28 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Other | 85 | $10,025,000 | $117,941 | $0 | 0.00% |
For 2019, Charter Bank's most frequently cited loan duration was Other, with 85 originations.
Loan Sizing
2019 saw Charter Bank place emphasis on $100,000 or less loans with 51 originations, totaling $2,545,000 in origination value.
Applicant Income
Charter Bank lent most frequently to those with incomes in the $50k-75k range, with 12 originations. The second most popular income band? $50k or less, with 10 originations.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Exempt% | 83 | $9,785,000 | $117,892 | $0 | 0.00% |
Charter Bank lent most frequently to those with DTI ratios of Exempt%, with 83 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.23%
Charter Bank has an average approval rate.
Pick Rate
Approvals leading to origination60.00%
Charter 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 |
---|---|---|---|
Exempt | 83 | $9,785,000 | $117,892 |
NA | 2 | $240,000 | $120,000 |