Range Bank Mortgage Rates, Fees & Info

Marquette, MI

LEI: 254900HI61SSH8KEBQ58

Tax ID: 38-0869023

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Range Bank is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. Range Bank has a high proportion of conventional loans. Range Bank has a low ratio of conventional loans. Their top markets by origination volume include: Marquette, Houghton, Green Bay, Iron Mountain, and Marinette among others. We have data for 20 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 an above 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 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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 11/21/24
    30 Year Conventional Purchase 6.92% 11/21/24
    30 Year Conventional Refi 7.09% 11/21/24
    30 Year Cash-out Refi 6.91% 11/21/24
    15 Year Conventional Purchase 6.01% 11/21/24
    15 Year Conventional Refi 5.79% 11/21/24
    15 Year Cash-out Refi 5.79% 11/21/24
    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

    1,137

    Origination Dollar Volume (All Markets)

    $194,795,000
    Show all (6) 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
    Marquette, MI (FHA|USDA|VA) 586 $101,740,000 $173,618 $2,728 2.86%
    Houghton, MI (FHA|USDA|VA) 292 $44,080,000 $150,959 $2,435 2.85%
    GREEN BAY, WI (FHA|USDA|VA) 84 $19,040,000 $226,667 $1,885 2.96%
    Iron Mountain, MI-WI (FHA|USDA|VA) 82 $11,230,000 $136,951 $2,678 2.76%
    Outside of Metro Areas 59 $10,815,000 $183,305 $2,752 2.92%
    Marinette, WI-MI (FHA|USDA|VA) 9 $2,425,000 $269,444 $2,916 3.41%
    APPLETON, WI (FHA|USDA|VA) 7 $1,305,000 $186,429 $1,906 3.09%
    Escanaba, MI (FHA|USDA|VA) 4 $940,000 $235,000 $2,294 2.47%
    SHEBOYGAN, WI (FHA|USDA|VA) 1 $385,000 $385,000 $3,704 2.63%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 2 $340,000 $170,000 $2,060 2.44%
    Sault Ste. Marie, MI (FHA|USDA|VA) 2 $330,000 $165,000 $3,458 2.44%
    ANN ARBOR, MI (FHA|USDA|VA) 1 $325,000 $325,000 $2,170 2.25%
    MADISON, WI (FHA|USDA|VA) 1 $295,000 $295,000 $3,833 2.88%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $295,000 $295,000 $3,089 2.78%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $285,000 $285,000 $1,525 2.88%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $285,000 $285,000 $3,336 2.63%
    Shawano, WI (FHA|USDA|VA) 1 $275,000 $275,000 $3,730 2.50%
    Traverse City, MI (FHA|USDA|VA) 1 $205,000 $205,000 $7,004 3.13%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $125,000 $125,000 $2,105 2.50%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $75,000 $75,000 $2,757 4.50%
    Range Bank's top markets include Marquette, Houghton, Green Bay, Iron Mountain, and Marinette among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (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.

    Hometown Bank
    Similarity Rank: 96
    CAPITAL Credit Union
    Similarity Rank: 224
    UNISON CREDIT UNION
    Similarity Rank: 224
    Honor Credit Union
    Similarity Rank: 228
    Main Street Bank
    Similarity Rank: 300
    VERVE, A CREDIT UNION
    Similarity Rank: 525
    mBank
    Similarity Rank: 658
    PCM
    Similarity Rank: 672
    FOX COMMUNITIES
    Similarity Rank: 703
    MEMBER ADVANTAGE MORTGAGE, LLC
    Similarity Rank: 780

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,134 $194,170,000 $171,226 $2,598 2.86%
    Conventional 3 $625,000 $208,333 $0 0.00%

    For 2020, Range Bank's most frequently originated type of loan was Conventional, with 1,134 originations. Their 2nd most popular type was Conventional, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 531 $98,845,000 $186,149 $2,148 2.76%
    Cash Out Refi 304 $44,550,000 $146,546 $2,904 2.80%
    Home Purchase 292 $50,200,000 $171,918 $3,165 3.06%
    Home Improvement 6 $560,000 $93,333 $0 4.89%
    Other 4 $640,000 $160,000 $1,093 5.00%

    For 2020, Range Bank's most frequently cited loan purpose was Refi, with 531 originations. The 2nd most popular reason was Cash Out Refi, with 304 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 400 $74,420,000 $186,050 $3,151 2.87%
    15 Year 331 $50,965,000 $153,973 $2,204 2.47%
    Other 154 $30,940,000 $200,909 $2,575 2.89%
    20 Year 127 $18,285,000 $143,976 $2,431 2.84%
    10 Year 58 $5,970,000 $102,931 $1,615 2.91%
    5 Year 54 $12,000,000 $222,222 $1,424 4.66%
    3 Year 9 $1,735,000 $192,778 $1,181 4.79%
    1 Year 4 $480,000 $120,000 $0 4.38%

    For 2020, Range Bank's most frequently cited loan duration was 30 Year, with 400 originations. The 2nd most popular length was 15 Year, with 331 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 769 $109,385,000 $142,243
    $1k-2k 286 $63,380,000 $221,608
    $2k-3k 14 $4,570,000 $326,429
    $3k-4k 1 $495,000 $495,000

    Range Bank's average total fees were $3,151, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 769 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 548 $95,180,000 $173,686
    <2.5% 356 $58,100,000 $163,202
    3-4% 157 $28,935,000 $184,299
    4-5% 53 $10,555,000 $199,151
    5-6% 20 $1,400,000 $70,000

    During 2020, Range Bank's average interest rate for loans was 2.87%, while their most frequently originated rate bucket for loans was 2.5-3%, with 548 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 513 $75,655,000 $147,476 $2,552 2.80%
    $200k-400k 297 $77,425,000 $260,690 $3,149 2.79%
    $100,000 or less 288 $19,160,000 $66,528 $1,916 3.02%
    $400k-600k 30 $13,930,000 $464,333 $4,196 2.77%
    $600k-1MM 6 $4,720,000 $786,667 $0 4.33%
    $1MM+ 3 $3,905,000 $1,301,667 $0 3.62%

    2020 saw Range Bank place emphasis on $100k-200k loans with 513 originations, totaling $75,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 271 $38,285,000 $141,273 $2,559 2.75%
    $100k-150k 236 $44,990,000 $190,636 $2,750 2.77%
    $75k-100k 211 $34,275,000 $162,441 $2,477 2.81%
    $50k or less 193 $19,925,000 $103,238 $2,393 2.87%
    $150k-250k 106 $24,800,000 $233,962 $2,929 2.79%
    $250k+ 52 $17,390,000 $334,423 $3,249 2.95%

    Range Bank lent most frequently to those with incomes in the $50k-75k range, with 271 originations. The second most popular income band? $100k-150k, with 236 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 313 $49,875,000 $159,345 $2,474 2.78%
    30-36% 219 $35,695,000 $162,991 $2,698 2.77%
    <20% 173 $29,405,000 $169,971 $2,438 2.69%
    38% 37 $6,215,000 $167,973 $2,781 2.87%
    44% 34 $6,060,000 $178,235 $2,695 2.67%
    37% 31 $6,245,000 $201,452 $2,717 2.81%
    43% 30 $5,040,000 $168,000 $3,067 2.85%
    36% 29 $5,765,000 $198,793 $3,149 2.85%
    40% 26 $4,330,000 $166,538 $2,861 2.80%
    42% 26 $4,320,000 $166,154 $2,728 2.78%
    39% 25 $4,595,000 $183,800 $2,772 2.72%
    41% 25 $3,395,000 $135,800 $2,642 2.93%
    45% 24 $3,930,000 $163,750 $2,734 2.98%
    47% 21 $3,805,000 $181,190 $2,929 2.70%
    46% 13 $1,695,000 $130,385 $2,377 2.75%
    48% 12 $2,150,000 $179,167 $2,181 2.89%
    50-60% 12 $1,460,000 $121,667 $2,018 3.63%
    >60% 6 $1,410,000 $235,000 $1,617 4.64%
    49% 5 $625,000 $125,000 $4,538 2.98%
    Exempt% 3 $625,000 $208,333 $0 0.00%

    Range Bank lent most frequently to those with DTI ratios of 20-30%, with 313 originations. The next most common DTI ratio? 30-36%, with 219 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,059 $176,605,000 $166,766 $2,588 2.80%
    Not applicable 40 $10,230,000 $255,750 $0 4.52%
    Not provided 23 $4,545,000 $197,609 $2,958 2.81%
    Asian 8 $1,630,000 $203,750 $2,519 2.70%
    American Indian 2 $570,000 $285,000 $4,459 2.50%
    Native Hawaiian or Islander 2 $490,000 $245,000 $2,784 3.00%
    Black 2 $390,000 $195,000 $1,980 2.88%
    Other Asian 1 $335,000 $335,000 $2,117 2.25%

    Approval Rates

    Total approvals of all applications
    98.67%

    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
    96.04%

    Range Bank 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 3 $625,000 $208,333
    NA 1,134 $194,170,000 $171,226

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 13 $9,695,000 $745,769
    Single Family (1-4 Units):Manufactured 18 $1,850,000 $102,778
    Single Family (1-4 Units):Site-Built 1,106 $183,250,000 $165,687

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 71 $7,015,000 $98,803 $1,654 2.85%
    40-60% 179 $25,815,000 $144,218 $2,003 2.69%
    60-80% 565 $103,755,000 $183,637 $2,760 2.83%
    80-100% 286 $54,320,000 $189,930 $3,056 2.93%
    Over 100% 6 $1,240,000 $206,667 $0 4.72%
    Under 20% 24 $1,670,000 $69,583 $637 3.80%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    RMK Financial Corp Conventional home mortgage Closing on a mortgage 1 100.0%