Bank Of Madison Mortgage Rates, Fees & Info
MADISON, GALEI: 2549006SH1GKAA6QVG47
Tax ID: 58-0152950
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Bank Of Madison is a smaller bank specializing in Home Purchase and Refi loans. Bank Of Madison has a high proportion of conventional loans. Their top markets by origination volume include: Atlanta, Athens, Milledgeville, Statesboro, and Augusta among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Of Madison 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.
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Originations
61Origination Dollar Volume (All Markets)
$11,165,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 14 | $3,850,000 | $275,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 35 | $3,355,000 | $95,857 | $0 | 0.00% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 3 | $3,025,000 | $1,008,333 | $0 | 0.00% |
| Milledgeville, GA (FHA|USDA|VA) | 4 | $550,000 | $137,500 | $0 | 0.00% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Cordele, GA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| Dublin, GA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 61 | $11,165,000 | $183,033 | $0 | 0.00% |
For 2019, Bank Of Madison's most frequently originated type of loan was Conventional, with 61 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 35 | $5,795,000 | $165,571 | $0 | 0.00% |
| Refi | 21 | $5,105,000 | $243,095 | $0 | 0.00% |
| Home Improvement | 5 | $265,000 | $53,000 | $0 | 0.00% |
For 2019, Bank Of Madison's most frequently cited loan purpose was Home Purchase, with 35 originations. The 2nd most popular reason was Refi, with 21 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 61 | $11,165,000 | $183,033 | $0 | 0.00% |
For 2019, Bank Of Madison's most frequently cited loan duration was Other, with 61 originations.
Loan Sizing
2019 saw Bank Of Madison place emphasis on $100,000 or less loans with 34 originations, totaling $2,010,000 in origination value.
Applicant Income
Bank Of Madison lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $150k-250k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 61 | $11,165,000 | $183,033 | $0 | 0.00% |
Bank Of Madison lent most frequently to those with DTI ratios of Exempt%, with 61 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Bank Of Madison has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination95.08%
Bank Of Madison has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 61 | $11,165,000 | $183,033 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF THE WEST | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| BANK OF THE WEST | Other type of mortgage | Trouble during payment process | 1 | 7.1% |
| BANK OF THE WEST | Other type of mortgage | Closing on a mortgage | 1 | 7.1% |
| BANK OF THE WEST | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Trouble during payment process | 2 | 14.3% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| BANK OF THE WEST | Conventional home mortgage | Trouble during payment process | 6 | 42.9% |
| BANK OF THE WEST | Conventional home mortgage | Struggling to pay mortgage | 1 | 7.1% |