Bank Of Botetourt Mortgage Rates, Fees & Info

Roanoke, VA

LEI: 549300VBSEU7L0HIUP28

Tax ID: 54-0132390

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Review & Overview

Bank Of Botetourt is a smaller bank specializing in Home Purchase loans. Bank Of Botetourt has a high proportion of conventional loans. Their top markets by origination volume include: Roanoke, Lynchburg, Blacksburg, Danville, and Martinsville among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bank Of Botetourt has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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.


Originations

289

Origination Dollar Volume (All Markets)

$88,375,000

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
ROANOKE, VA (FHA|USDA|VA) 200 $69,880,000 $349,400 $0 0.00%
LYNCHBURG, VA (FHA|USDA|VA) 30 $7,620,000 $254,000 $0 0.00%
Outside of Metro Areas 45 $7,135,000 $158,556 $0 0.00%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 3 $1,575,000 $525,000 $0 0.00%
Danville, VA (FHA|USDA|VA) 3 $1,055,000 $351,667 $0 0.00%
Martinsville, VA (FHA|USDA|VA) 4 $480,000 $120,000 $0 0.00%
STAUNTON, VA (FHA|USDA|VA) 3 $395,000 $131,667 $0 0.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
Bank Of Botetourt's top markets include Roanoke, Lynchburg, Blacksburg, Danville, and Martinsville among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 289 $88,375,000 $305,796 $0 0.00%

    For 2023, Bank Of Botetourt's most frequently originated type of loan was Conventional, with 289 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 159 $58,255,000 $366,384 $0 0.00%
    Refi 48 $11,700,000 $243,750 $0 0.00%
    Cash Out Refi 41 $12,815,000 $312,561 $0 0.00%
    Other 26 $2,170,000 $83,462 $0 0.00%
    Home Improvement 15 $3,435,000 $229,000 $0 0.00%

    For 2023, Bank Of Botetourt's most frequently cited loan purpose was Home Purchase, with 159 originations. The 2nd most popular reason was Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 289 $88,375,000 $305,796 $0 0.00%

    For 2023, Bank Of Botetourt's most frequently cited loan duration was Other, with 289 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 83 $23,155,000 $278,976 $0 0.00%
    $100k-200k 71 $10,205,000 $143,732 $0 0.00%
    $100,000 or less 64 $4,050,000 $63,281 $0 0.00%
    $400k-600k 36 $17,500,000 $486,111 $0 0.00%
    $600k-1MM 23 $17,235,000 $749,348 $0 0.00%
    $1MM+ 12 $16,230,000 $1,352,500 $0 0.00%

    2023 saw Bank Of Botetourt place emphasis on $200k-400k loans with 83 originations, totaling $23,155,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 44 $17,840,000 $405,455 $0 0.00%
    $100k-150k 36 $9,400,000 $261,111 $0 0.00%
    $50k-75k 30 $5,050,000 $168,333 $0 0.00%
    $250k+ 29 $16,235,000 $559,828 $0 0.00%
    $75k-100k 26 $4,400,000 $169,231 $0 0.00%
    $50k or less 19 $2,465,000 $129,737 $0 0.00%

    Bank Of Botetourt lent most frequently to those with incomes in the $150k-250k range, with 44 originations. The second most popular income band? $100k-150k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 289 $88,375,000 $305,796 $0 0.00%

    Bank Of Botetourt lent most frequently to those with DTI ratios of Exempt%, with 289 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 163 $45,755,000 $280,706 $0 0.00%
    Not applicable 99 $32,675,000 $330,051 $0 0.00%
    Asian 8 $4,710,000 $588,750 $0 0.00%
    Not provided 7 $2,465,000 $352,143 $0 0.00%
    Asian Indian 4 $1,990,000 $497,500 $0 0.00%
    Black 7 $425,000 $60,714 $0 0.00%
    Other Asian 1 $355,000 $355,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.34%

    Bank Of Botetourt has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    91.00%

    Bank Of Botetourt has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 289 $88,375,000 $305,796

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    289 $88,375,000 $305,796