Bank Of Botetourt Mortgage Rates, Fees & Info
Roanoke, VALEI: 549300VBSEU7L0HIUP28
Tax ID: 54-0132390
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Bank Of Botetourt is a smaller bank specializing in Home Purchase and Refi loans. Bank Of Botetourt has a high proportion of conventional loans. Their top markets by origination volume include: Roanoke, Lynchburg, Staunton, Blacksburg, and Virginia Beach among others. We have data for 7 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.
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Originations
264Origination Dollar Volume (All Markets)
$100,710,000Top 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 |
|---|---|---|---|---|---|
| ROANOKE, VA (FHA|USDA|VA) | 197 | $84,785,000 | $430,381 | $0 | 0.00% |
| LYNCHBURG, VA (FHA|USDA|VA) | 22 | $6,950,000 | $315,909 | $0 | 0.00% |
| Outside of Metro Areas | 32 | $4,740,000 | $148,125 | $0 | 0.00% |
| STAUNTON, VA (FHA|USDA|VA) | 8 | $2,170,000 | $271,250 | $0 | 0.00% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 3 | $1,655,000 | $551,667 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Martinsville, VA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 264 | $100,710,000 | $381,477 | $0 | 0.00% |
For 2022, Bank Of Botetourt's most frequently originated type of loan was Conventional, with 264 originations.
Loan Reason
For 2022, Bank Of Botetourt's most frequently cited loan purpose was Home Purchase, with 157 originations. The 2nd most popular reason was Refi, with 52 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 264 | $100,710,000 | $381,477 | $0 | 0.00% |
For 2022, Bank Of Botetourt's most frequently cited loan duration was Other, with 264 originations.
Loan Sizing
2022 saw Bank Of Botetourt place emphasis on $100k-200k loans with 79 originations, totaling $11,075,000 in origination value.
Applicant Income
Bank Of Botetourt lent most frequently to those with incomes in the $150k-250k range, with 30 originations. The second most popular income band? $50k-75k, with 27 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 264 | $100,710,000 | $381,477 | $0 | 0.00% |
Bank Of Botetourt lent most frequently to those with DTI ratios of Exempt%, with 264 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.61%
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 origination92.80%
Bank Of Botetourt has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 264 | $100,710,000 | $381,477 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF AMERICA, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 20.0% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Trouble during payment process | 7 | 46.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | FHA mortgage | Struggling to pay mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 6.7% |