Range Bank Mortgage Rates, Fees & Info
Marquette, MILEI: 254900HI61SSH8KEBQ58
Tax ID: 38-0869023
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Mortgage Data
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 6.92% | 4/21/24 |
| 30 Year Conventional Refi | 7.09% | 4/21/24 |
| 30 Year Cash-out Refi | 6.91% | 4/21/24 |
| 15 Year Conventional Purchase | 6.01% | 4/21/24 |
| 15 Year Conventional Refi | 5.79% | 4/21/24 |
| 15 Year Cash-out Refi | 5.79% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,137Origination Dollar Volume (All Markets)
$194,795,000Awards
Range Bank - 2020
Range Bank is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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% |
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 | 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
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
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
2020 saw Range Bank place emphasis on $100k-200k loans with 513 originations, totaling $75,655,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications98.67%
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 origination96.04%
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
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| RMK Financial Corp | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |