Range Bank Mortgage Rates, Fees & Info

Marquette, MI

LEI: 254900HI61SSH8KEBQ58

Tax ID: 38-0869023

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Mortgage Data

Review & 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. Range Bank has a low ratio of conventional loans. Their top markets by origination volume include: Marquette, Houghton, Green Bay, Iron Mountain, and Appleton among others. We have data for 15 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.

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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

783

Origination Dollar Volume (All Markets)

$132,905,000

Awards

Range Bank 30 Year Conventional Loans gold Range Bank 30 Year Conventional Loans gold Range Bank 30 Year Conventional Loans gold Range 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
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.

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

    CAPITAL Credit Union
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    Similarity Rank: 255
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 782 $132,850,000 $169,885 $2,962 2.81%
    Conventional 1 $55,000 $55,000 $0 0.00%

    For 2021, Range Bank's most frequently originated type of loan was Conventional, with 782 originations. Their 2nd most popular type was Conventional, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Range Bank's most frequently cited loan purpose was Home Purchase, with 294 originations. The 2nd most popular reason was 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 2021, Range Bank's most frequently cited loan duration was 30 Year, with 338 originations. The 2nd most popular length was 15 Year, with 207 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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

    Range Bank's average total fees were $3,598, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.88%, while their most frequently originated rate bucket for loans was 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 applications
    95.46%

    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
    92.98%

    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%