Is Community Trust Bank, Inc. An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Community Trust Bank, Inc. with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (-0.04%)
Loan Related Closing Costs: similar to average (-$149)
Assessment: this lender tends to be a cheap lender.

This scoreboard is based on data reported to FFIEC. In the data, Community Trust Bank, Inc. originated 1706 mortgages, a national market share of 0.0%. It was most active in KY (1.9% market share), WV (0.3% market share), and TN (0.1% market share).

On average, Community Trust Bank, Inc.’s interest rates were similar to those of comparable mortgages at other lenders (-0.04%).1The comparable mortgages control for Community Trust Bank, Inc.’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $2479, which was similar to those of comparable mortgages at $2628, with a difference of -$149. Overall, we estimate that Community Trust Bank, Inc. tends to be an cheap lender, with a cost-adjusted-rate difference of -0.06% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Community Trust Bank, Inc..

Community Trust Bank, Inc. originated Conforming mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Community Trust Bank, Inc. compared to other lenders

Conforming
Interest Rate Difference -0.01%
Loan related Closing Cost Difference -$169
Cost Adjusted Rate Difference -0.03%

Based on the table above, Community Trust Bank, Inc. is similar to other lenders for Conforming purchase mortgages.

Mortgage Refinancing from Community Trust Bank, Inc. compared to other lenders

Conforming
Interest Rate Difference -0.06%
Loan Related Closing Cost Difference -$127
Cost Adjusted Rate Difference -0.08%

Based on the table above, Community Trust Bank, Inc. is cheap for Conforming mortgage refinance.

Other information about Community Trust Bank, Inc.:

Regulator: Federal Reserve System (FRS) 
Top holder: COMMUNITY TRUST BANCORP, INC.
Registered city and state: Pikeville, KY, 41502

Footnotes   [ + ]

1. The comparable mortgages control for Community Trust Bank, Inc.’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2. Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.

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