Citizens Bank Of Lafayette Mortgage Rates, Fees & Info

Lafayette, TN

LEI: 549300W4TWSN8U8TGD72

Tax ID: 62-0123135

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Citizens Bank Of Lafayette is a smaller bank specializing in Refi, Other, 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 Bowling Green among others. We have data for 21 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.71% 11/21/24
    30 Year Conventional Purchase 7.15% 11/21/24
    30 Year Conventional Refi 6.60% 11/21/24
    15 Year Conventional Purchase 5.56% 11/21/24
    15 Year Conventional Refi 5.88% 11/21/24
    15 Year Cash-out Refi 5.88% 11/21/24
    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

    1,029

    Origination Dollar Volume (All Markets)

    $178,735,000

    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
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 429 $79,775,000 $185,956 $2,110 4.71%
    Cookeville, TN (FHA|USDA|VA) 290 $49,580,000 $170,966 $2,008 4.41%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 99 $17,305,000 $174,798 $1,651 4.37%
    Outside of Metro Areas 146 $16,630,000 $113,904 $1,650 4.90%
    Shelbyville, TN (FHA|USDA|VA) 30 $7,500,000 $250,000 $10,509 3.97%
    BOWLING GREEN, KY (FHA|USDA|VA) 15 $1,645,000 $109,667 $1,540 5.15%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $1,045,000 $1,045,000 $0 3.75%
    Crossville, TN (FHA|USDA|VA) 5 $955,000 $191,000 $2,587 4.81%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $840,000 $420,000 $7,752 4.13%
    Sevierville, TN (FHA|USDA|VA) 1 $655,000 $655,000 $0 4.75%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $485,000 $485,000 $0 3.75%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $445,000 $445,000 $0 7.95%
    JACKSON, TN (FHA|USDA|VA) 1 $405,000 $405,000 $0 6.25%
    Oxford, MS (FHA|USDA|VA) 1 $305,000 $305,000 $3,088 4.80%
    JOHNSON CITY, TN (FHA|USDA|VA) 1 $285,000 $285,000 $3,812 4.15%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $265,000 $265,000 $0 4.90%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $225,000 $225,000 $4,490 4.30%
    Arcadia, FL (FHA|USDA|VA) 1 $185,000 $185,000 $2,907 3.50%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $105,000 $105,000 $2,528 4.20%
    COLUMBIA, SC (FHA|USDA|VA) 1 $75,000 $75,000 $0 6.25%
    McMinnville, TN (FHA|USDA|VA) 1 $25,000 $25,000 $0 6.50%
    Citizens Bank Of Lafayette's top markets include Nashville, Cookeville, Tullahoma, Shelbyville, and Bowling Green among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Mississippi (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.

    US COMMUNITY
    Similarity Rank: 295
    First Farmers and Merchants Bank
    Similarity Rank: 456
    GUARANTY MORTGAGE SERVICES, L.L.C.
    Similarity Rank: 462
    Listerhill Credit Union
    Similarity Rank: 858
    THE TENNESSEE CREDIT UNION
    Similarity Rank: 868
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1404
    TENNESSEE TRUST MORTGAGE, INC
    Similarity Rank: 1512
    The Farmers Bank
    Similarity Rank: 1545
    ASCEND FEDERAL CREDIT UNION
    Similarity Rank: 1974
    First Federal Bank
    Similarity Rank: 2260

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 541 $109,805,000 $202,967 $2,352 5.22%
    HELOC 488 $68,930,000 $141,250 n/a 3.93%

    For 2022, Citizens Bank Of Lafayette's most frequently originated type of loan was Conventional, with 541 originations. Their 2nd most popular type was HELOC, with 488 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 394 $72,580,000 $184,213 $1,643 5.04%
    Other 332 $43,020,000 $129,578 $5,410 3.83%
    Home Purchase 194 $50,330,000 $259,433 $3,136 5.10%
    Home Improvement 109 $12,805,000 $117,477 $1,051 4.54%

    For 2022, Citizens Bank Of Lafayette's most frequently cited loan purpose was Refi, with 394 originations. The 2nd most popular reason was Other, with 332 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 475 $72,755,000 $153,168 $1,640 3.84%
    15 Year 198 $39,500,000 $199,495 $2,696 4.88%
    10 Year 145 $20,835,000 $143,690 $1,497 5.81%
    Other 84 $17,530,000 $208,690 $2,517 4.67%
    20 Year 77 $14,895,000 $193,442 $1,966 5.65%
    1 Year 20 $4,360,000 $218,000 $1,736 5.13%
    30 Year 18 $6,770,000 $376,111 $3,635 6.41%
    3 Year 12 $2,090,000 $174,167 $0 5.39%

    For 2022, Citizens Bank Of Lafayette's most frequently cited loan duration was 5 Year, with 475 originations. The 2nd most popular length was 15 Year, with 198 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 251 $29,645,000 $118,108
    $1k-2k 66 $18,170,000 $275,303
    $2k-3k 13 $6,815,000 $524,231
    $3k-4k 4 $3,710,000 $927,500
    $4k-5k 4 $3,730,000 $932,500
    $5k+ 4 $5,660,000 $1,415,000

    Citizens Bank Of Lafayette's average total fees were $3,635, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 251 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 268 $45,310,000 $169,067
    <2.5% 195 $35,425,000 $181,667
    5-6% 171 $26,405,000 $154,415
    3-4% 138 $36,190,000 $262,246
    6-7% 126 $22,080,000 $175,238
    7-8% 88 $9,480,000 $107,727
    Over 8% 42 $3,740,000 $89,048
    % 1 $105,000 $105,000

    During 2022, Citizens Bank Of Lafayette's average interest rate for loans was 6.41%, while their most frequently originated rate bucket for loans was 4-5%, with 268 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 481 $25,425,000 $52,859 $1,167 4.89%
    $100k-200k 242 $33,590,000 $138,802 $2,975 4.64%
    $200k-400k 202 $54,770,000 $271,139 $2,436 4.24%
    $400k-600k 68 $32,540,000 $478,529 $3,755 3.93%
    $600k-1MM 26 $20,130,000 $774,231 $5,947 3.86%
    $1MM+ 10 $12,280,000 $1,228,000 $10,927 4.41%

    2022 saw Citizens Bank Of Lafayette place emphasis on $100,000 or less loans with 481 originations, totaling $25,425,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 216 $17,950,000 $83,102 $1,364 5.31%
    $50k-75k 189 $19,945,000 $105,529 $1,681 5.16%
    $100k-150k 162 $30,560,000 $188,642 $4,294 4.20%
    $75k-100k 139 $19,385,000 $139,460 $1,787 4.51%
    $250k+ 125 $48,125,000 $385,000 $5,186 3.91%
    $150k-250k 103 $21,055,000 $204,417 $2,335 4.17%

    Citizens Bank Of Lafayette lent most frequently to those with incomes in the $50k or less range, with 216 originations. The second most popular income band? $50k-75k, with 189 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 242 $33,900,000 $140,083 $1,704 4.60%
    <20% 229 $38,755,000 $169,236 $3,367 4.33%
    30-36% 113 $17,025,000 $150,664 $2,074 4.50%
    >60% 70 $15,680,000 $224,000 $2,270 4.81%
    50-60% 51 $10,615,000 $208,137 $2,089 5.11%
    39% 30 $3,790,000 $126,333 $1,558 4.88%
    43% 23 $5,725,000 $248,913 $4,303 5.50%
    37% 22 $5,840,000 $265,455 $2,054 4.19%
    36% 21 $3,255,000 $155,000 $4,042 5.28%
    41% 20 $3,250,000 $162,500 $2,388 4.47%
    40% 15 $3,025,000 $201,667 $2,194 4.46%
    44% 14 $1,220,000 $87,143 $1,577 5.57%
    45% 14 $3,990,000 $285,000 $3,456 4.47%
    38% 14 $2,520,000 $180,000 $2,137 4.22%
    49% 13 $1,615,000 $124,231 $1,476 5.62%
    42% 12 $1,710,000 $142,500 $1,700 4.69%
    46% 10 $1,430,000 $143,000 $1,752 5.63%
    48% 7 $1,805,000 $257,857 $3,419 4.28%
    47% 7 $875,000 $125,000 $1,057 6.49%

    Citizens Bank Of Lafayette lent most frequently to those with DTI ratios of 20-30%, with 242 originations. The next most common DTI ratio? <20%, with 229 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 955 $158,685,000 $166,162 $2,290 4.62%
    Not applicable 53 $13,235,000 $249,717 $0 4.17%
    Asian 11 $5,495,000 $499,545 $8,858 5.27%
    Not provided 7 $1,045,000 $149,286 $2,892 5.27%
    American Indian 1 $185,000 $185,000 $2,102 3.65%
    Black 2 $90,000 $45,000 $966 4.42%

    Approval Rates

    Total approvals of all applications
    96.80%

    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
    94.46%

    Citizens Bank Of Lafayette has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,029 $178,735,000 $173,698

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,029 $178,735,000 $173,698

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 253 $29,595,000 $116,976 $2,763 4.35%
    40-60% 217 $43,105,000 $198,641 $2,113 4.74%
    60-80% 252 $69,000,000 $273,810 $2,541 4.78%
    80-100% 82 $24,620,000 $300,244 $2,941 4.69%
    Over 100% 3 $765,000 $255,000 $1,738 4.97%
    Under 20% 222 $11,650,000 $52,477 $1,115 4.54%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 1 10.0%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 3 30.0%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 4 40.0%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 1 10.0%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 1 10.0%