Range Bank Mortgage Rates, Fees & Info

Marquette, MI

LEI: 254900HI61SSH8KEBQ58

Tax ID: 38-0869023

5 stars - Updated: 3/28/24 - out of 5 stars, based on 17 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Range Bank is a smaller bank specializing in Home Purchase loans. Range Bank has a high proportion of conventional loans. Their top markets by origination volume include: Marquette, Houghton, Green Bay, Iron Mountain, and Oshkosh among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Range 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. Range 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 relatively high 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 3/28/24
30 Year Conventional Purchase 6.92% 3/28/24
30 Year Conventional Refi 7.09% 3/28/24
30 Year Cash-out Refi 6.91% 3/28/24
15 Year Conventional Purchase 6.01% 3/28/24
15 Year Conventional Refi 5.79% 3/28/24
15 Year Cash-out Refi 5.79% 3/28/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Range Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Range Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

303

Origination Dollar Volume (All Markets)

$55,555,000

Awards

Range Bank 30 Year Conventional Loans gold Range Bank 30 Year Conventional Loans silver Range Bank 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Range Bank's average 30 year fixed mortgage rate was 6.89%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.41%.

Relative Fees (Closing Costs)

Range Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,148.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
Marquette, MI (FHA|USDA|VA) 142 $26,300,000 $185,211 $2,785 7.09%
Houghton, MI (FHA|USDA|VA) 85 $16,045,000 $188,765 $2,222 7.01%
GREEN BAY, WI (FHA|USDA|VA) 23 $4,815,000 $209,348 $2,248 7.06%
Outside of Metro Areas 15 $3,035,000 $202,333 $2,525 7.29%
Iron Mountain, MI-WI (FHA|USDA|VA) 22 $2,440,000 $110,909 $2,504 7.19%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 8 $1,600,000 $200,000 $0 7.38%
APPLETON, WI (FHA|USDA|VA) 4 $830,000 $207,500 $0 7.26%
Sault Ste. Marie, MI (FHA|USDA|VA) 1 $145,000 $145,000 $2,730 6.75%
Manitowoc, WI (FHA|USDA|VA) 1 $135,000 $135,000 $0 7.00%
Marinette, WI-MI (FHA|USDA|VA) 1 $125,000 $125,000 $5,746 7.25%
Hood River, OR (FHA|USDA|VA) 1 $85,000 $85,000 $3,116 5.63%
Range Bank's top markets include Marquette, Houghton, Green Bay, Iron Mountain, and Oshkosh among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Similar Lenders

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 303 $55,555,000 $183,350 $2,579 7.09%

    For 2023, Range Bank's most frequently originated type of loan was Conventional, with 303 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 150 $32,640,000 $217,600 $3,583 7.03%
    Cash Out Refi 104 $11,100,000 $106,731 $1,220 7.25%
    Refi 46 $10,750,000 $233,696 $1,409 6.84%
    Home Improvement 3 $1,065,000 $355,000 $0 7.80%

    For 2023, Range Bank's most frequently cited loan purpose was Home Purchase, with 150 originations. The 2nd most popular reason was Cash Out Refi, with 104 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 146 $33,440,000 $229,041 $3,148 6.89%
    5 Year 61 $11,795,000 $193,361 $0 7.43%
    20 Year 50 $4,250,000 $85,000 $1,188 7.37%
    15 Year 22 $2,050,000 $93,182 $1,944 6.67%
    Other 15 $2,025,000 $135,000 $692 7.15%
    10 Year 8 $390,000 $48,750 $1,161 7.06%
    3 Year 1 $1,605,000 $1,605,000 $0 7.95%

    For 2023, Range Bank's most frequently cited loan duration was 30 Year, with 146 originations. The 2nd most popular length was 5 Year, with 61 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 129 $14,165,000 $109,806
    $1k-2k 61 $11,555,000 $189,426
    $2k-3k 27 $8,445,000 $312,778
    $3k-4k 11 $2,995,000 $272,273
    $4k-5k 7 $2,405,000 $343,571
    $5k+ 3 $1,075,000 $358,333

    Range Bank's average total fees were $3,148, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 129 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 149 $29,815,000 $200,101
    7-8% 113 $17,695,000 $156,593
    Over 8% 26 $3,940,000 $151,538
    5-6% 14 $2,720,000 $194,286
    4-5% 1 $1,385,000 $1,385,000

    During 2023, Range Bank's average interest rate for loans was 6.89%, while their most frequently originated rate bucket for loans was 6-7%, with 149 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 110 $5,810,000 $52,818 $1,423 7.25%
    $100k-200k 85 $12,575,000 $147,941 $2,858 7.02%
    $200k-400k 84 $22,510,000 $267,976 $3,043 7.00%
    $400k-600k 16 $7,600,000 $475,000 $4,578 6.99%
    $600k-1MM 6 $4,070,000 $678,333 $4,965 6.83%
    $1MM+ 2 $2,990,000 $1,495,000 $0 6.25%

    2023 saw Range Bank place emphasis on $100,000 or less loans with 110 originations, totaling $5,810,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 62 $6,940,000 $111,935 $2,027 6.93%
    $100k-150k 56 $11,920,000 $212,857 $2,843 7.04%
    $75k-100k 43 $6,705,000 $155,930 $2,987 7.03%
    $150k-250k 41 $9,065,000 $221,098 $3,152 7.19%
    $50k or less 25 $1,575,000 $63,000 $1,821 7.10%
    $250k+ 17 $6,065,000 $356,765 $3,491 7.08%

    Range Bank lent most frequently to those with incomes in the $50k-75k range, with 62 originations. The second most popular income band? $100k-150k, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 56 $8,060,000 $143,929 $2,589 7.14%
    30-36% 52 $9,830,000 $189,038 $2,694 6.99%
    <20% 27 $3,195,000 $118,333 $2,048 6.95%
    41% 11 $2,415,000 $219,545 $2,356 6.80%
    37% 10 $1,750,000 $175,000 $2,110 6.76%
    42% 9 $1,445,000 $160,556 $2,514 7.21%
    43% 9 $2,525,000 $280,556 $3,656 6.75%
    36% 8 $1,140,000 $142,500 $2,400 6.83%
    47% 8 $1,760,000 $220,000 $4,836 7.05%
    38% 8 $1,480,000 $185,000 $2,302 7.22%
    40% 7 $1,195,000 $170,714 $3,450 7.04%
    46% 7 $675,000 $96,429 $2,074 7.32%
    45% 6 $1,430,000 $238,333 $2,820 7.52%
    44% 6 $800,000 $133,333 $2,720 7.08%
    49% 6 $1,210,000 $201,667 $2,138 7.19%
    39% 5 $1,025,000 $205,000 $2,972 6.65%
    50-60% 3 $785,000 $261,667 $3,622 6.88%
    48% 2 $720,000 $360,000 $2,793 6.88%

    Range Bank lent most frequently to those with DTI ratios of 20-30%, with 56 originations. The next most common DTI ratio? 30-36%, with 52 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 243 $41,465,000 $170,638 $2,544 7.06%
    Not applicable 48 $11,880,000 $247,500 $0 7.28%
    American Indian 4 $660,000 $165,000 $2,559 6.63%
    Asian 2 $630,000 $315,000 $5,237 6.63%
    Not provided 4 $530,000 $132,500 $2,937 6.78%
    Black 2 $390,000 $195,000 $2,952 7.00%

    Approval Rates

    Total approvals of all applications
    97.70%

    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 origination
    88.45%

    Range Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 303 $55,555,000 $183,350

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    303 $55,555,000 $183,350

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $3,970,000 $90,227 $1,072 7.09%
    40-60% 35 $6,935,000 $198,143 $2,099 7.06%
    60-80% 75 $17,795,000 $237,267 $2,805 7.10%
    80-100% 99 $22,435,000 $226,616 $3,605 6.96%
    Under 20% 48 $2,880,000 $60,000 $961 7.40%