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 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
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.
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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) | 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% |
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 | 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
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
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
2021 saw Range Bank place emphasis on $100k-200k loans with 359 originations, totaling $51,105,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications95.46%
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 origination92.98%
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 |