Citizens Bank Of Lafayette Mortgage Rates, Fees & Info
Lafayette, TNLEI: 549300W4TWSN8U8TGD72
Tax ID: 62-0123135
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.71% | 12/16/24 |
| 30 Year Conventional Purchase | 7.15% | 12/16/24 |
| 30 Year Conventional Refi | 6.60% | 12/16/24 |
| 15 Year Conventional Purchase | 5.56% | 12/16/24 |
| 15 Year Conventional Refi | 5.88% | 12/16/24 |
| 15 Year Cash-out Refi | 5.88% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
793Origination Dollar Volume (All Markets)
$124,665,000Awards
Citizens Bank of Lafayette - 2023
Citizens Bank of Lafayette is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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 $9,089.
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% |
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications96.69%
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 origination93.32%
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 |