Powell Valley National Bank Mortgage Rates, Fees & Info

Jonesville, VA

LEI: 254900GBKSHEUZ4PGG08

Tax ID: 54-0345618

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Mortgage Data

Review & Overview

Powell Valley National Bank is a smaller bank specializing in Home Purchase loans. Powell Valley National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kingsport, Big Stone Gap, Morristown, Johnson City, and Sevierville among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

Powell Valley National 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.

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Originations

124

Origination Dollar Volume (All Markets)

$22,250,000

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
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 49 $10,825,000 $220,918 $0 0.00%
Outside of Metro Areas 28 $3,800,000 $135,714 $0 0.00%
Big Stone Gap, VA (FHA|USDA|VA) 30 $3,060,000 $102,000 $0 0.00%
MORRISTOWN, TN (FHA|USDA|VA) 4 $1,960,000 $490,000 $0 0.00%
JOHNSON CITY, TN (FHA|USDA|VA) 8 $1,620,000 $202,500 $0 0.00%
Sevierville, TN (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
Bluefield, WV-VA (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Middlesborough, KY (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Powell Valley National Bank's top markets include Kingsport, Big Stone Gap, Morristown, Johnson City, and Sevierville among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 124 $22,250,000 $179,435 $0 0.00%

    For 2023, Powell Valley National Bank's most frequently originated type of loan was Conventional, with 124 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 93 $18,135,000 $195,000 $0 0.00%
    Other 18 $1,360,000 $75,556 $0 0.00%
    Cash Out Refi 10 $1,790,000 $179,000 $0 0.00%
    Refi 3 $965,000 $321,667 $0 0.00%

    For 2023, Powell Valley National Bank's most frequently cited loan purpose was Home Purchase, with 93 originations. The 2nd most popular reason was Other, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 124 $22,250,000 $179,435 $0 0.00%

    For 2023, Powell Valley National Bank's most frequently cited loan duration was Other, with 124 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 59 $3,255,000 $55,169 $0 0.00%
    $100k-200k 29 $3,905,000 $134,655 $0 0.00%
    $200k-400k 25 $7,285,000 $291,400 $0 0.00%
    $600k-1MM 5 $3,795,000 $759,000 $0 0.00%
    $400k-600k 4 $1,980,000 $495,000 $0 0.00%
    $1MM+ 2 $2,030,000 $1,015,000 $0 0.00%

    2023 saw Powell Valley National Bank place emphasis on $100,000 or less loans with 59 originations, totaling $3,255,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 23 $1,865,000 $81,087 $0 0.00%
    $50k or less 22 $1,400,000 $63,636 $0 0.00%
    $100k-150k 19 $3,315,000 $174,474 $0 0.00%
    $250k+ 16 $5,780,000 $361,250 $0 0.00%
    $75k-100k 14 $3,000,000 $214,286 $0 0.00%
    $150k-250k 12 $2,540,000 $211,667 $0 0.00%

    Powell Valley National Bank lent most frequently to those with incomes in the $50k-75k range, with 23 originations. The second most popular income band? $50k or less, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 124 $22,250,000 $179,435 $0 0.00%

    Powell Valley National Bank lent most frequently to those with DTI ratios of Exempt%, with 124 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 104 $17,540,000 $168,654 $0 0.00%
    Not applicable 16 $3,910,000 $244,375 $0 0.00%
    Not provided 2 $450,000 $225,000 $0 0.00%
    Asian 2 $350,000 $175,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.55%

    Powell Valley National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.06%

    Powell Valley National Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 124 $22,250,000 $179,435

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    124 $22,250,000 $179,435