Providence Bank Mortgage Rates, Fees & Info

Columbia, MO

LEI: 254900GCM1G6FHLNYX50

Tax ID: 43-0170030

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

    Providence Bank is a smaller bank specializing in Refi and Home Purchase loans. Providence Bank has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Dallas, Columbia, Crestview, and Jefferson City among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Providence 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. Providence 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

    91

    Origination Dollar Volume (All Markets)

    $21,315,000

    Awards

    Providence Bank 30 Year Conventional Loans bronze Providence Bank 30 Year Conventional Loans silver Providence Bank 30 Year Conventional Loans gold Providence Bank 30 Year Conventional Loans gold
    Show all (4) 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
    ST. LOUIS, MO-IL (FHA|USDA|VA) 33 $6,355,000 $192,576 $2,350 2.99%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 13 $3,825,000 $294,231 $3,889 2.95%
    Outside of Metro Areas 10 $2,710,000 $271,000 $2,746 3.08%
    COLUMBIA, MO (FHA|USDA|VA) 12 $2,400,000 $200,000 $1,801 3.34%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,515,000 $1,515,000 $0 4.00%
    JEFFERSON CITY, MO (FHA|USDA|VA) 9 $1,085,000 $120,556 $2,115 2.61%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $735,000 $735,000 $4,074 2.75%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $505,000 $505,000 $4,134 2.63%
    GAINESVILLE, FL (FHA|USDA|VA) 1 $465,000 $465,000 $4,772 2.38%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,481 2.63%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $225,000 $225,000 $0 3.38%
    Gardnerville Ranchos, NV (FHA|USDA|VA) 1 $215,000 $215,000 $3,070 2.63%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $205,000 $205,000 $2,244 2.75%
    SALT LAKE CITY, UT (FHA|USDA|VA) 1 $165,000 $165,000 $0 3.13%
    FARGO, ND-MN (FHA|USDA|VA) 1 $165,000 $165,000 $2,992 2.75%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $155,000 $155,000 $0 2.88%
    SPRINGFIELD, MO (FHA|USDA|VA) 1 $155,000 $155,000 $2,331 2.75%
    BOISE CITY, ID (FHA|USDA|VA) 1 $105,000 $105,000 $0 2.88%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $75,000 $75,000 $0 2.75%
    Providence Bank's top markets include St. Louis, Dallas, Columbia, Crestview, and Jefferson City among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)

    • Similar Lenders

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

    Town & Country Bank
    Similarity Rank: 328
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 370
    CapGrow Home Mortgage, LLC
    Similarity Rank: 552
    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 627
    JERSEY STATE BANK
    Similarity Rank: 725
    HNB National Bank
    Similarity Rank: 910
    First National Bank of Waterloo
    Similarity Rank: 938
    VANTAGE Credit Union
    Similarity Rank: 1010
    Providence Bank
    Similarity Rank: 1102
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1260

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 91 $21,315,000 $234,231 $2,603 2.98%

    For 2021, Providence Bank's most frequently originated type of loan was Conventional, with 91 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 46 $9,430,000 $205,000 $2,346 2.78%
    Home Purchase 26 $7,340,000 $282,308 $3,082 3.31%
    Cash Out Refi 16 $3,770,000 $235,625 $2,517 3.07%
    Other 3 $775,000 $258,333 $3,683 2.83%

    For 2021, Providence Bank's most frequently cited loan purpose was Refi, with 46 originations. The 2nd most popular reason was Home Purchase, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 64 $13,380,000 $209,063 $2,570 2.86%
    15 Year 9 $2,055,000 $228,333 $2,994 2.43%
    5 Year 8 $3,730,000 $466,250 $0 4.05%
    Other 3 $375,000 $125,000 $2,071 2.63%
    1 Year 3 $535,000 $178,333 $0 4.04%
    20 Year 2 $360,000 $180,000 $795 3.44%
    3 Year 1 $145,000 $145,000 $0 4.50%
    10 Year 1 $735,000 $735,000 $4,074 2.75%

    For 2021, Providence Bank's most frequently cited loan duration was 30 Year, with 64 originations. The 2nd most popular length was 15 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 59 $14,215,000 $240,932
    $<1k 3 $395,000 $131,667
    $3k-4k 1 $245,000 $245,000

    Providence Bank's average total fees were $2,570, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 59 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 44 $8,890,000 $202,045
    3-4% 24 $7,800,000 $325,000
    <2.5% 17 $3,565,000 $209,706
    4-5% 6 $1,060,000 $176,667

    During 2021, Providence Bank's average interest rate for loans was 2.86%, while their most frequently originated rate bucket for loans was 2.5-3%, with 44 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 41 $5,945,000 $145,000 $2,169 2.97%
    $200k-400k 26 $6,860,000 $263,846 $2,622 2.88%
    $100,000 or less 13 $955,000 $73,462 $2,200 3.06%
    $400k-600k 6 $2,970,000 $495,000 $4,389 2.91%
    $600k-1MM 3 $2,065,000 $688,333 $4,898 3.29%
    $1MM+ 2 $2,520,000 $1,260,000 $4,509 3.88%

    2021 saw Providence Bank place emphasis on $100k-200k loans with 41 originations, totaling $5,945,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 17 $3,015,000 $177,353 $2,520 2.77%
    $50k-75k 17 $2,995,000 $176,176 $2,699 3.05%
    $75k-100k 16 $2,940,000 $183,750 $2,264 2.69%
    $100k-150k 11 $2,505,000 $227,727 $2,282 2.66%
    $250k+ 9 $4,145,000 $460,556 $4,690 2.96%
    $50k or less 7 $1,065,000 $152,143 $2,051 2.77%

    Providence Bank lent most frequently to those with incomes in the $150k-250k range, with 17 originations. The second most popular income band? $50k-75k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 19 $5,425,000 $285,526 $2,751 2.74%
    20-30% 16 $2,640,000 $165,000 $1,985 2.73%
    <20% 12 $2,820,000 $235,000 $2,980 2.67%
    40% 5 $685,000 $137,000 $0 3.08%
    39% 5 $1,195,000 $239,000 $3,693 2.70%
    44% 4 $790,000 $197,500 $2,259 3.28%
    38% 4 $770,000 $192,500 $2,417 2.94%
    37% 3 $395,000 $131,667 $2,617 3.33%
    42% 3 $435,000 $145,000 $2,278 2.96%
    43% 2 $240,000 $120,000 $2,304 3.00%
    45% 2 $350,000 $175,000 $1,938 2.56%
    41% 2 $630,000 $315,000 $2,799 2.81%
    48% 1 $165,000 $165,000 $2,992 2.75%
    36% 1 $365,000 $365,000 $3,292 2.50%

    Providence Bank lent most frequently to those with DTI ratios of 30-36%, with 19 originations. The next most common DTI ratio? 20-30%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 64 $14,450,000 $225,781 $2,659 2.82%
    Not applicable 8 $3,760,000 $470,000 $0 3.93%
    Not provided 15 $2,645,000 $176,333 $2,228 3.20%
    Black 2 $250,000 $125,000 $2,181 2.87%
    Asian 1 $155,000 $155,000 $0 2.88%
    Asian Indian 1 $55,000 $55,000 $0 3.00%

    Approval Rates

    Total approvals of all applications
    92.92%

    Providence Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.62%

    Providence Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 91 $21,315,000 $234,231

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    91 $21,315,000 $234,231

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $2,070,000 $207,000 $3,102 2.66%
    40-60% 17 $2,695,000 $158,529 $2,303 3.07%
    60-80% 42 $11,750,000 $279,762 $2,484 2.93%
    80-100% 19 $3,775,000 $198,684 $2,804 3.04%
    Under 20% 3 $1,025,000 $341,667 $0 3.90%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 6 46.2%
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Closing on a mortgage 1 7.7%
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Trouble during payment process 6 46.2%