Range Bank Mortgage Rates, Fees & Info
Marquette, MILEI: 254900HI61SSH8KEBQ58
Tax ID: 38-0869023
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Overview
Range Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Range Bank has a high proportion of conventional loans. Their top markets include Marquette, Houghton, Green Bay, Iron Mountain, and Appleton among others. Range Bank has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Range Bank is typically an average fee lendor.Originations
783Origination Dollar Volume (All Markets)
$132,905,000Awards
Range Bank - 2021
Range Bank is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for Range Bank?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Range Bank's average 30 year fixed rate mortgage of loans were
2.88%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.27%.
Relative Fees
Range Bank's average total fees for a 30 year fixed rate
mortgage are $3,598.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Marquette, MI (FHA|USDA|VA) | 401 | $70,445,000 | $175,673 | $3,266 | 2.76% |
| Houghton, MI (FHA|USDA|VA) | 195 | $31,435,000 | $161,205 | $2,733 | 2.79% |
| GREEN BAY, WI (FHA|USDA|VA) | 54 | $9,940,000 | $184,074 | $2,097 | 3.04% |
| Iron Mountain, MI-WI (FHA|USDA|VA) | 62 | $8,010,000 | $129,194 | $2,532 | 2.93% |
| Outside of Metro Areas | 33 | $6,475,000 | $196,212 | $2,566 | 2.81% |
| APPLETON, WI (FHA|USDA|VA) | 17 | $2,765,000 | $162,647 | $2,247 | 3.04% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $1,010,000 | $505,000 | $6,615 | 2.69% |
| Marinette, WI-MI (FHA|USDA|VA) | 7 | $985,000 | $140,714 | $2,104 | 2.81% |
| Escanaba, MI (FHA|USDA|VA) | 4 | $550,000 | $137,500 | $3,189 | 2.66% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $1,665 | 3.78% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,916 | 2.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,292 | 2.25% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,186 | 3.00% |
| Manitowoc, WI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,195 | 2.25% |
| Shawano, WI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,759 | 2.00% |
Range Bank's top markets include Marquette, Houghton, Green Bay, Iron Mountain, and Appleton among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 783 | $132,905,000 | $169,738 | $2,962 | 2.81% |
For the 2021 period, Range Bank's most frequently originated loan type of loans were Conventional, with 783 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 294 | $54,120,000 | $184,082 | $3,592 | 3.02% |
| Cash Out Refi | 247 | $35,935,000 | $145,486 | $2,916 | 2.76% |
| Refi | 238 | $42,050,000 | $176,681 | $2,310 | 2.59% |
| Home Improvement | 3 | $535,000 | $178,333 | $0 | 4.33% |
| Other | 1 | $265,000 | $265,000 | $0 | 4.15% |
For the 2021, Range Bank's most frequently cited loan purpose of loans were Home Purchase, with 294 originations. The 2nd most popular reason of loans were Cash Out Refi, with 247 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 338 | $60,650,000 | $179,438 | $3,598 | 2.88% |
| 15 Year | 207 | $31,075,000 | $150,121 | $2,434 | 2.26% |
| 5 Year | 75 | $14,955,000 | $199,400 | $663 | 4.16% |
| 20 Year | 73 | $11,665,000 | $159,795 | $2,616 | 2.79% |
| Other | 48 | $8,890,000 | $185,208 | $2,426 | 2.88% |
| 10 Year | 39 | $5,285,000 | $135,513 | $2,017 | 2.34% |
| 3 Year | 2 | $270,000 | $135,000 | $2,976 | 4.49% |
| 1 Year | 1 | $115,000 | $115,000 | $0 | 4.75% |
For the 2021, Range Bank's most frequently cited loan length of loans were 30 Year, with 338 originations. The 2nd most popular length of loans were 15 Year, with 207 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 424 | $56,800,000 | $133,962 |
| $1k-2k | 275 | $55,465,000 | $201,691 |
| $2k-3k | 16 | $5,020,000 | $313,750 |
$3,598 of loans were Range Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 424 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 380 | $69,510,000 | $182,921 |
| <2.5% | 261 | $40,885,000 | $156,648 |
| 3-4% | 92 | $13,700,000 | $148,913 |
| 4-5% | 43 | $8,305,000 | $193,140 |
| 5-6% | 6 | $450,000 | $75,000 |
During 2021, Range Bank's average interest rate of loans were 2.88%, while their most frequently originated rate bucket of loans were 2.5-3%, with 380 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 359 | $51,105,000 | $142,354 | $2,932 | 2.73% |
| $200k-400k | 199 | $52,275,000 | $262,688 | $3,725 | 2.75% |
| $100,000 or less | 195 | $12,825,000 | $65,769 | $2,040 | 2.98% |
| $400k-600k | 22 | $10,250,000 | $465,909 | $4,136 | 2.85% |
| $600k-1MM | 7 | $5,415,000 | $773,571 | $4,048 | 3.72% |
| $1MM+ | 1 | $1,035,000 | $1,035,000 | $0 | 4.15% |
2021 saw Range Bank place emphasis on $100k-200k loans with 359 originations, totaling $51,105,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 173 | $25,365,000 | $146,618 | $2,858 | 2.70% |
| $100k-150k | 156 | $29,310,000 | $187,885 | $3,286 | 2.65% |
| $75k-100k | 151 | $23,205,000 | $153,675 | $2,857 | 2.70% |
| $50k or less | 146 | $15,190,000 | $104,041 | $2,578 | 2.80% |
| $150k-250k | 63 | $15,945,000 | $253,095 | $3,517 | 2.78% |
| $250k+ | 29 | $9,315,000 | $321,207 | $3,627 | 2.65% |
Range Bank lent most frequently to those with incomes in the $50k-75k range, with 173 originations. The second most popular income band? $100k-150k, with 156 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 203 | $33,025,000 | $162,685 | $2,896 | 2.65% |
| 30-36% | 145 | $25,535,000 | $176,103 | $2,905 | 2.66% |
| <20% | 88 | $12,430,000 | $141,250 | $2,690 | 2.70% |
| 38% | 30 | $4,320,000 | $144,000 | $3,084 | 2.81% |
| 40% | 28 | $5,080,000 | $181,429 | $3,194 | 2.76% |
| 39% | 26 | $4,120,000 | $158,462 | $2,633 | 2.66% |
| 41% | 26 | $4,590,000 | $176,538 | $3,355 | 2.61% |
| 37% | 22 | $3,630,000 | $165,000 | $3,042 | 2.58% |
| 42% | 22 | $3,750,000 | $170,455 | $3,204 | 2.78% |
| 44% | 21 | $3,485,000 | $165,952 | $3,703 | 2.79% |
| 36% | 21 | $3,045,000 | $145,000 | $3,112 | 3.00% |
| 43% | 19 | $3,025,000 | $159,211 | $3,071 | 2.66% |
| 45% | 18 | $2,710,000 | $150,556 | $3,560 | 2.73% |
| 50-60% | 11 | $1,815,000 | $165,000 | $3,511 | 3.11% |
| 46% | 11 | $2,125,000 | $193,182 | $2,589 | 2.56% |
| 47% | 7 | $795,000 | $113,571 | $3,041 | 3.08% |
| 48% | 7 | $1,385,000 | $197,857 | $2,980 | 2.71% |
| 49% | 5 | $965,000 | $193,000 | $4,082 | 2.85% |
| >60% | 3 | $975,000 | $325,000 | $0 | 4.19% |
| Exempt% | 1 | $55,000 | $55,000 | $0 | 0.00% |
Range Bank lent most frequently to those with DTI ratios of 20-30%, with 203 originations. The next most common DTI ratio? 30-36%, with 145 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 715 | $118,305,000 | $165,462 | $2,951 | 2.71% |
| Not applicable | 52 | $11,900,000 | $228,846 | $0 | 4.21% |
| Asian | 7 | $1,255,000 | $179,286 | $4,789 | 2.57% |
| American Indian | 3 | $795,000 | $265,000 | $2,293 | 2.58% |
| Not provided | 5 | $575,000 | $115,000 | $2,490 | 2.70% |
| Black | 1 | $75,000 | $75,000 | $1,921 | 2.88% |
Approval Rates
Total approvals of all applications97.31%
Range Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination94.79%
Range Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 1 | $55,000 | $55,000 |
| NA | 782 | $132,850,000 | $169,885 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 783 | $132,905,000 | $169,738 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 68 | $7,990,000 | $117,500 | $1,927 | 2.63% |
| 40-60% | 154 | $24,380,000 | $158,312 | $2,273 | 2.59% |
| 60-80% | 325 | $59,785,000 | $183,954 | $3,186 | 2.80% |
| 80-100% | 204 | $38,620,000 | $189,314 | $3,700 | 2.92% |
| Over 100% | 3 | $895,000 | $298,333 | $0 | 4.11% |
| Under 20% | 28 | $1,180,000 | $42,143 | $989 | 3.62% |
