Citizens Bank Of Lafayette Mortgage Rates, Fees & Info

Lafayette, TN

LEI: 549300W4TWSN8U8TGD72

Tax ID: 62-0123135

5 stars - Updated: 3/27/24 - out of 5 stars, based on 28 reviews

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

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Mortgage Data

Review & Overview

Citizens Bank Of Lafayette is a smaller bank specializing in Other, Refi, and Home Purchase loans. Citizens Bank Of Lafayette has a high proportion of conventional loans. Their top markets by origination volume include: Nashville, Cookeville, Tullahoma, Shelbyville, and Knoxville among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Citizens Bank Of Lafayette 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. Citizens Bank Of Lafayette 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.

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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.71% 3/27/24
30 Year Conventional Purchase 7.15% 3/27/24
30 Year Conventional Refi 6.60% 3/27/24
15 Year Conventional Purchase 5.56% 3/27/24
15 Year Conventional Refi 5.88% 3/27/24
15 Year Cash-out Refi 5.88% 3/27/24
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.

Citizens Bank Of Lafayette Mortgage Calculator






Your Estimates

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

This is not an official calculator from Citizens Bank Of Lafayette. 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

793

Origination Dollar Volume (All Markets)

$124,665,000

Awards

Citizens Bank of Lafayette 30 Year Conventional Loans gold Citizens Bank of Lafayette 30 Year Conventional Loans gold Citizens Bank of Lafayette 30 Year Conventional Loans gold
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Relative Rate

Citizens Bank Of Lafayette's average 30 year fixed mortgage rate was 8.05%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 1.57%.

Relative Fees (Closing Costs)

Citizens Bank Of Lafayette's average total fees/closing costs for a 30 year fixed rate mortgage were $1,906.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

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
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 300 $51,410,000 $171,367 $1,524 8.62%
Cookeville, TN (FHA|USDA|VA) 275 $38,055,000 $138,382 $1,231 8.47%
Outside of Metro Areas 106 $12,820,000 $120,943 $1,475 8.54%
Tullahoma-Manchester, TN (FHA|USDA|VA) 66 $10,230,000 $155,000 $1,486 8.59%
Shelbyville, TN (FHA|USDA|VA) 17 $5,285,000 $310,882 $1,996 8.12%
KNOXVILLE, TN (FHA|USDA|VA) 3 $1,195,000 $398,333 $0 8.39%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $980,000 $490,000 $0 8.45%
Sevierville, TN (FHA|USDA|VA) 2 $960,000 $480,000 $0 7.80%
PANAMA CITY, FL (FHA|USDA|VA) 1 $875,000 $875,000 $0 8.25%
McMinnville, TN (FHA|USDA|VA) 1 $645,000 $645,000 $0 8.00%
BOWLING GREEN, KY (FHA|USDA|VA) 10 $620,000 $62,000 $1,153 8.75%
Crossville, TN (FHA|USDA|VA) 4 $560,000 $140,000 $0 8.75%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $355,000 $355,000 $0 8.25%
THE VILLAGES, FL (FHA|USDA|VA) 1 $325,000 $325,000 $0 8.75%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $260,000 $130,000 $0 8.20%
Glasgow, KY (FHA|USDA|VA) 2 $90,000 $45,000 $1,280 8.35%
Citizens Bank Of Lafayette's top markets include Nashville, Cookeville, Tullahoma, Shelbyville, and Knoxville among others.

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

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 401 $70,085,000 $174,776 $1,427 8.21%
    HELOC 392 $54,580,000 $139,235 n/a 8.87%

    For 2023, Citizens Bank Of Lafayette's most frequently originated type of loan was Conventional, with 401 originations. Their 2nd most popular type was HELOC, with 392 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 301 $36,135,000 $120,050 $1,152 8.73%
    Refi 273 $47,815,000 $175,147 $1,138 8.38%
    Home Purchase 124 $29,590,000 $238,629 $2,439 8.38%
    Home Improvement 93 $10,785,000 $115,968 $1,169 8.58%
    Cash Out Refi 2 $340,000 $170,000 $0 8.73%

    For 2023, Citizens Bank Of Lafayette's most frequently cited loan purpose was Other, with 301 originations. The 2nd most popular reason was Refi, with 273 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 240 $30,460,000 $126,917 $908 8.75%
    5 Year 214 $29,610,000 $138,364 $1,089 8.82%
    15 Year 87 $8,105,000 $93,161 $1,150 8.42%
    20 Year 87 $15,885,000 $182,586 $1,465 8.13%
    30 Year 76 $18,090,000 $238,026 $1,906 8.05%
    Other 53 $12,505,000 $235,943 $1,546 8.15%
    1 Year 25 $6,615,000 $264,600 $1,707 8.33%
    3 Year 11 $3,395,000 $308,636 $0 8.33%

    For 2023, Citizens Bank Of Lafayette's most frequently cited loan duration was 10 Year, with 240 originations. The 2nd most popular length was 5 Year, with 214 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 184 $23,860,000 $129,674
    $1k-2k 22 $6,610,000 $300,455
    $2k-3k 1 $945,000 $945,000
    $3k-4k 1 $705,000 $705,000
    $4k-5k 1 $855,000 $855,000

    Citizens Bank Of Lafayette's average total fees were $1,906, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 184 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 540 $76,920,000 $142,444
    7-8% 232 $40,590,000 $174,957
    6-7% 21 $7,155,000 $340,714

    During 2023, Citizens Bank Of Lafayette's average interest rate for loans was 8.05%, while their most frequently originated rate bucket for loans was Over 8%, with 540 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 397 $20,785,000 $52,355 $1,018 8.73%
    $100k-200k 217 $29,105,000 $134,124 $1,480 8.48%
    $200k-400k 124 $33,790,000 $272,500 $2,039 8.17%
    $400k-600k 29 $13,735,000 $473,621 $721 8.29%
    $600k-1MM 19 $14,235,000 $749,211 $5,357 8.20%
    $1MM+ 7 $13,015,000 $1,859,286 $4,256 7.75%

    2023 saw Citizens Bank Of Lafayette place emphasis on $100,000 or less loans with 397 originations, totaling $20,785,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 165 $11,005,000 $66,697 $1,116 8.73%
    $50k-75k 156 $16,010,000 $102,628 $1,398 8.63%
    $100k-150k 136 $19,140,000 $140,735 $1,354 8.60%
    $75k-100k 120 $13,630,000 $113,583 $1,479 8.64%
    $150k-250k 89 $18,545,000 $208,371 $1,736 8.42%
    $250k+ 81 $34,295,000 $423,395 $3,172 8.20%

    Citizens Bank Of Lafayette lent most frequently to those with incomes in the $50k or less range, with 165 originations. The second most popular income band? $50k-75k, with 156 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 183 $18,305,000 $100,027 $1,269 8.60%
    <20% 171 $19,915,000 $116,462 $1,156 8.58%
    30-36% 105 $17,275,000 $164,524 $1,292 8.55%
    >60% 70 $18,120,000 $258,857 $1,183 8.33%
    50-60% 47 $9,425,000 $200,532 $1,963 8.37%
    38% 17 $2,115,000 $124,412 $1,662 8.92%
    40% 17 $2,175,000 $127,941 $1,081 8.87%
    36% 17 $3,025,000 $177,941 $2,625 8.94%
    42% 16 $1,860,000 $116,250 $1,394 8.38%
    44% 15 $1,965,000 $131,000 $1,781 8.82%
    39% 15 $2,515,000 $167,667 $1,689 8.70%
    37% 14 $2,890,000 $206,429 $2,924 8.57%
    43% 13 $2,505,000 $192,692 $3,364 8.59%
    45% 12 $2,140,000 $178,333 $1,440 8.45%
    49% 10 $1,040,000 $104,000 $0 8.90%
    46% 10 $1,230,000 $123,000 $1,547 8.61%
    48% 9 $2,215,000 $246,111 $1,565 8.68%
    41% 8 $3,800,000 $475,000 $2,461 7.93%
    47% 6 $960,000 $160,000 $2,160 8.59%

    Citizens Bank Of Lafayette lent most frequently to those with DTI ratios of 20-30%, with 183 originations. The next most common DTI ratio? <20%, with 171 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 753 $113,395,000 $150,591 $1,417 8.56%
    Not applicable 21 $8,385,000 $399,286 $0 8.02%
    Asian 6 $940,000 $156,667 $0 8.38%
    Not provided 4 $920,000 $230,000 $2,568 7.90%
    Black 6 $620,000 $103,333 $1,262 8.52%
    Native Hawaiian or Islander 1 $205,000 $205,000 $0 9.00%
    Vietnamese 2 $200,000 $100,000 $0 8.75%

    Approval Rates

    Total approvals of all applications
    96.69%

    Citizens Bank Of Lafayette 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
    93.32%

    Citizens Bank Of Lafayette has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 793 $124,665,000 $157,207

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    793 $124,665,000 $157,207

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 236 $24,170,000 $102,415 $1,068 8.59%
    40-60% 135 $28,185,000 $208,778 $1,783 8.48%
    60-80% 159 $43,345,000 $272,610 $1,691 8.46%
    80-100% 53 $16,855,000 $318,019 $1,977 8.30%
    Under 20% 210 $12,110,000 $57,667 $945 8.63%