Peoples Bank Mortgage Rates, Fees & Info

Lubbock, TX

LEI: 549300X7PN8KSYQHY415

Tax ID: 75-1254812

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Mortgage Data

Review & Overview

Peoples Bank is a smaller bank specializing in Home Purchase loans. Peoples Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Lubbock, Dallas, Amarillo, Midland, and Corpus Christi among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Peoples Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

313

Origination Dollar Volume (All Markets)

$83,045,000

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
LUBBOCK, TX (FHA|USDA|VA) 210 $54,990,000 $261,857 $0 0.00%
Outside of Metro Areas 73 $18,665,000 $255,685 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 10 $3,990,000 $399,000 $0 0.00%
AMARILLO, TX (FHA|USDA|VA) 8 $1,590,000 $198,750 $0 0.00%
MIDLAND, TX (FHA|USDA|VA) 5 $1,485,000 $297,000 $0 0.00%
CORPUS CHRISTI, TX (FHA|USDA|VA) 2 $820,000 $410,000 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $645,000 $645,000 $0 0.00%
WACO, TX (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
ABILENE, TX (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Peoples Bank's top markets include Lubbock, Dallas, Amarillo, Midland, and Corpus Christi among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 293 $78,375,000 $267,491 $0 0.00%
    FHA 18 $4,090,000 $227,222 $0 0.00%
    VA 2 $580,000 $290,000 $0 0.00%

    For 2022, Peoples Bank's most frequently originated type of loan was Conventional, with 293 originations. Their 2nd most popular type was FHA, with 18 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 232 $65,510,000 $282,371 $0 0.00%
    Cash Out Refi 31 $7,005,000 $225,968 $0 0.00%
    Refi 29 $7,765,000 $267,759 $0 0.00%
    Other 12 $1,580,000 $131,667 $0 0.00%
    Home Improvement 9 $1,185,000 $131,667 $0 0.00%

    For 2022, Peoples Bank's most frequently cited loan purpose was Home Purchase, with 232 originations. The 2nd most popular reason was Cash Out Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 313 $83,045,000 $265,319 $0 0.00%

    For 2022, Peoples Bank's most frequently cited loan duration was Other, with 313 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 109 $30,325,000 $278,211 $0 0.00%
    $100k-200k 108 $15,950,000 $147,685 $0 0.00%
    $100,000 or less 39 $2,825,000 $72,436 $0 0.00%
    $400k-600k 35 $16,905,000 $483,000 $0 0.00%
    $600k-1MM 20 $14,240,000 $712,000 $0 0.00%
    $1MM+ 2 $2,800,000 $1,400,000 $0 0.00%

    2022 saw Peoples Bank place emphasis on $200k-400k loans with 109 originations, totaling $30,325,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 62 $16,330,000 $263,387 $0 0.00%
    $250k+ 58 $20,070,000 $346,034 $0 0.00%
    $150k-250k 44 $14,600,000 $331,818 $0 0.00%
    $50k-75k 39 $6,705,000 $171,923 $0 0.00%
    $75k-100k 38 $8,120,000 $213,684 $0 0.00%
    $50k or less 19 $2,545,000 $133,947 $0 0.00%

    Peoples Bank lent most frequently to those with incomes in the $100k-150k range, with 62 originations. The second most popular income band? $250k+, with 58 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 313 $83,045,000 $265,319 $0 0.00%

    Peoples Bank lent most frequently to those with DTI ratios of Exempt%, with 313 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 241 $64,815,000 $268,942 $0 0.00%
    Not applicable 39 $10,305,000 $264,231 $0 0.00%
    Not provided 16 $3,820,000 $238,750 $0 0.00%
    Asian 8 $1,840,000 $230,000 $0 0.00%
    Black 6 $1,560,000 $260,000 $0 0.00%
    American Indian 3 $705,000 $235,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    99.18%

    Peoples Bank 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
    83.71%

    Peoples Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 313 $83,045,000 $265,319

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    313 $83,045,000 $265,319