Town Square Bank Mortgage Rates, Fees & Info

ASHLAND, KY

LEI: 549300YUQ9GI8RVNPJ61

Tax ID: 61-0228640

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

Jump to:

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

    Town Square Bank is a smaller bank specializing in Refi and Home Purchase loans. Town Square Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lexington, Huntington, Cincinnati, Punta Gorda, and Danville among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

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


    Originations

    144

    Origination Dollar Volume (All Markets)

    $19,910,000
    Show all (8) awards

    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
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 41 $8,445,000 $205,976 $1,818 4.54%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 72 $6,050,000 $84,028 $1,750 4.72%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $2,080,000 $1,040,000 $0 5.19%
    Outside of Metro Areas 17 $1,725,000 $101,471 $2,039 4.38%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $425,000 $425,000 $0 3.99%
    Danville, KY (FHA|USDA|VA) 4 $330,000 $82,500 $1,621 4.56%
    Mount Sterling, KY (FHA|USDA|VA) 3 $325,000 $108,333 $2,055 4.16%
    Portsmouth, OH (FHA|USDA|VA) 2 $310,000 $155,000 $2,218 4.56%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $115,000 $115,000 $0 3.99%
    Frankfort, KY (FHA|USDA|VA) 1 $105,000 $105,000 $1,923 3.99%
    Town Square Bank's top markets include Lexington, Huntington, Cincinnati, Punta Gorda, and Danville among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)

    • Similar Lenders

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

    Town Square Bank
    Similarity Rank: 120
    The Poca Valley Bank, Inc.
    Similarity Rank: 133
    DESCO
    Similarity Rank: 216
    Peoples Exchange Bank
    Similarity Rank: 315
    Bank of Lexington, Inc.
    Similarity Rank: 324
    City National Bank of West Virginia
    Similarity Rank: 342
    PARK COMMUNITY CREDIT UNION, INC.
    Similarity Rank: 372
    MEMBERS HERITAGE Credit Union
    Similarity Rank: 396
    The Ohio Valley Bank Company
    Similarity Rank: 408
    COMMONWEALTH
    Similarity Rank: 414

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 143 $19,845,000 $138,776 $1,823 4.60%
    HELOC 1 $65,000 $65,000 n/a 4.82%

    For 2018, Town Square Bank's most frequently originated type of loan was Conventional, with 143 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 72 $9,770,000 $135,694 $2,008 4.42%
    Home Purchase 59 $9,515,000 $161,271 $1,775 4.60%
    Other 7 $345,000 $49,286 $1,086 5.46%
    Home Improvement 6 $280,000 $46,667 $551 5.92%

    For 2018, Town Square Bank's most frequently cited loan purpose was Refi, with 72 originations. The 2nd most popular reason was Home Purchase, with 59 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 96 $12,340,000 $128,542 $1,920 4.31%
    20 Year 23 $2,565,000 $111,522 $1,403 5.13%
    10 Year 12 $2,420,000 $201,667 $725 5.62%
    15 Year 5 $425,000 $85,000 $1,912 5.00%
    Other 5 $1,155,000 $231,000 $1,894 4.57%
    1 Year 3 $1,005,000 $335,000 $0 5.20%

    For 2018, Town Square Bank's most frequently cited loan duration was 30 Year, with 96 originations. The 2nd most popular length was 20 Year, with 23 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 108 $12,260,000 $113,519
    $1k-2k 8 $1,020,000 $127,500
    $2k-3k 1 $565,000 $565,000

    Town Square Bank's average total fees were $1,920, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 108 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 72 $9,690,000 $134,583
    4-5% 39 $5,985,000 $153,462
    5-6% 22 $3,950,000 $179,545
    6-7% 11 $285,000 $25,909

    During 2018, Town Square Bank's average interest rate for loans was 4.31%, while their most frequently originated rate bucket for loans was 3-4%, with 72 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 77 $4,475,000 $58,117 $1,626 4.80%
    $100k-200k 42 $5,880,000 $140,000 $2,074 4.27%
    $200k-400k 19 $5,365,000 $282,368 $1,998 4.58%
    $400k-600k 5 $2,385,000 $477,000 $2,498 4.36%
    $1MM+ 1 $1,805,000 $1,805,000 $0 5.25%

    2018 saw Town Square Bank place emphasis on $100,000 or less loans with 77 originations, totaling $4,475,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 54 $4,010,000 $74,259 $1,820 4.42%
    $50k-75k 27 $3,355,000 $124,259 $1,748 4.57%
    $100k-150k 23 $3,605,000 $156,739 $1,613 4.72%
    $75k-100k 14 $1,620,000 $115,714 $2,162 4.69%
    $150k-250k 9 $2,115,000 $235,000 $2,198 4.62%
    $250k+ 5 $1,355,000 $271,000 $2,229 4.63%

    Town Square Bank lent most frequently to those with incomes in the $50k or less range, with 54 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
    20-30% 53 $6,495,000 $122,547 $1,942 4.48%
    30-36% 32 $3,760,000 $117,500 $1,733 4.51%
    <20% 17 $2,375,000 $139,706 $1,986 4.50%
    40% 5 $295,000 $59,000 $1,221 5.35%
    37% 5 $675,000 $135,000 $2,074 4.24%
    38% 5 $415,000 $83,000 $1,695 5.12%
    36% 3 $135,000 $45,000 $1,260 4.41%
    39% 3 $375,000 $125,000 $2,088 4.16%
    >60% 2 $180,000 $90,000 $1,400 3.99%
    41% 2 $90,000 $45,000 $811 5.85%
    49% 2 $420,000 $210,000 $1,473 4.74%
    50-60% 2 $740,000 $370,000 $0 4.93%
    43% 1 $85,000 $85,000 $2,056 3.99%
    42% 1 $35,000 $35,000 $500 6.50%

    Town Square Bank lent most frequently to those with DTI ratios of 20-30%, with 53 originations. The next most common DTI ratio? 30-36%, with 32 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 128 $15,760,000 $123,125 $1,830 4.56%
    Not applicable 10 $3,760,000 $376,000 $0 5.17%
    Not provided 5 $335,000 $67,000 $1,880 4.41%
    Asian 1 $55,000 $55,000 $811 6.00%

    Approval Rates

    Total approvals of all applications
    86.89%

    Town Square Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.53%

    Town Square Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 144 $19,910,000 $138,264

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $2,700,000 $675,000
    Single Family (1-4 Units):Manufactured 4 $210,000 $52,500
    Single Family (1-4 Units):Site-Built 136 $17,000,000 $125,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $795,000 $61,154 $1,362 5.25%
    40-60% 20 $2,370,000 $118,500 $1,933 4.39%
    60-80% 70 $9,570,000 $136,714 $2,018 4.31%
    80-100% 23 $6,195,000 $269,348 $2,061 4.30%
    Over 100% 3 $565,000 $188,333 $0 5.66%
    Under 20% 15 $415,000 $27,667 $584 5.93%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Town Square Mortgage & Investments, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Town Square Mortgage & Investments, LLC VA mortgage Closing on a mortgage 1 50.0%