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
  • 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 Home Purchase and Refi loans. Range Bank has a high proportion of conventional loans. Their top markets by origination volume include: Marquette, Houghton, Green Bay, Iron Mountain, and North Port 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 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% 4/28/24
    30 Year Conventional Purchase 6.92% 4/28/24
    30 Year Conventional Refi 7.09% 4/28/24
    30 Year Cash-out Refi 6.91% 4/28/24
    15 Year Conventional Purchase 6.01% 4/28/24
    15 Year Conventional Refi 5.79% 4/28/24
    15 Year Cash-out Refi 5.79% 4/28/24
    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

    393

    Origination Dollar Volume (All Markets)

    $70,285,000

    Awards

    Range Bank 30 Year Conventional Loans gold
    Show all (1) 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) 181 $34,185,000 $188,867 $3,481 4.85%
    Houghton, MI (FHA|USDA|VA) 108 $17,470,000 $161,759 $2,445 5.03%
    GREEN BAY, WI (FHA|USDA|VA) 31 $6,125,000 $197,581 $2,603 4.91%
    Iron Mountain, MI-WI (FHA|USDA|VA) 35 $5,235,000 $149,571 $2,445 4.77%
    Outside of Metro Areas 25 $4,845,000 $193,800 $4,029 4.84%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $960,000 $480,000 $7,852 4.65%
    Marinette, WI-MI (FHA|USDA|VA) 6 $760,000 $126,667 $1,872 5.38%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $225,000 $225,000 $6,332 5.25%
    APPLETON, WI (FHA|USDA|VA) 2 $220,000 $110,000 $0 4.68%
    Sault Ste. Marie, MI (FHA|USDA|VA) 1 $205,000 $205,000 $3,150 3.00%
    Escanaba, MI (FHA|USDA|VA) 1 $55,000 $55,000 $1,818 4.64%
    Range Bank's top markets include Marquette, Houghton, Green Bay, Iron Mountain, and North Port 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.

    PCM
    Similarity Rank: 65
    Honor Credit Union
    Similarity Rank: 183
    FOX COMMUNITIES
    Similarity Rank: 189
    Denmark State Bank
    Similarity Rank: 198
    CAPITAL Credit Union
    Similarity Rank: 200
    Range Bank
    Similarity Rank: 242
    VERVE, A CREDIT UNION
    Similarity Rank: 247
    Community First Credit Union
    Similarity Rank: 312
    Bank of Luxemburg
    Similarity Rank: 324
    The Stephenson National Bank and Trust
    Similarity Rank: 387

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 392 $70,180,000 $179,031 $3,077 4.90%
    HELOC 1 $105,000 $105,000 n/a 6.50%

    For 2022, Range Bank's most frequently originated type of loan was Conventional, with 392 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 197 $40,485,000 $205,508 $3,894 5.16%
    Cash Out Refi 116 $13,630,000 $117,500 $2,278 4.91%
    Refi 76 $15,010,000 $197,500 $1,880 4.19%
    Home Improvement 4 $1,160,000 $290,000 $0 5.18%

    For 2022, Range Bank's most frequently cited loan purpose was Home Purchase, with 197 originations. The 2nd most popular reason was Cash Out Refi, with 116 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 211 $41,925,000 $198,697 $3,461 5.04%
    5 Year 49 $10,515,000 $214,592 $400 4.84%
    15 Year 47 $7,085,000 $150,745 $2,601 3.99%
    20 Year 39 $4,215,000 $108,077 $2,416 5.18%
    Other 32 $4,500,000 $140,625 $1,091 5.18%
    10 Year 7 $1,015,000 $145,000 $1,890 3.86%
    1 Year 6 $840,000 $140,000 $0 5.54%
    3 Year 2 $190,000 $95,000 $0 4.37%

    For 2022, Range Bank's most frequently cited loan duration was 30 Year, with 211 originations. The 2nd most popular length was 5 Year, with 49 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 158 $20,200,000 $127,848
    $1k-2k 138 $25,000,000 $181,159
    $2k-3k 23 $6,945,000 $301,957
    $3k-4k 9 $2,425,000 $269,444
    $5k+ 3 $1,035,000 $345,000
    $4k-5k 2 $390,000 $195,000

    Range Bank's average total fees were $3,461, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 158 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 149 $25,375,000 $170,302
    4-5% 93 $19,045,000 $204,785
    3-4% 70 $12,840,000 $183,429
    6-7% 43 $6,705,000 $155,930
    2.5-3% 18 $3,040,000 $168,889
    <2.5% 12 $1,960,000 $163,333
    7-8% 8 $1,320,000 $165,000

    During 2022, Range Bank's average interest rate for loans was 5.04%, while their most frequently originated rate bucket for loans was 5-6%, with 149 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 143 $21,105,000 $147,587 $2,947 4.83%
    $100,000 or less 119 $7,085,000 $59,538 $1,988 5.03%
    $200k-400k 105 $27,795,000 $264,714 $3,844 4.88%
    $400k-600k 22 $10,610,000 $482,273 $5,449 4.87%
    $600k-1MM 3 $2,135,000 $711,667 $1,014 4.09%
    $1MM+ 1 $1,555,000 $1,555,000 $0 4.85%

    2022 saw Range Bank place emphasis on $100k-200k loans with 143 originations, totaling $21,105,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 77 $13,945,000 $181,104 $3,524 4.98%
    $50k-75k 71 $9,275,000 $130,634 $2,657 4.77%
    $100k-150k 69 $12,295,000 $178,188 $2,885 5.14%
    $50k or less 56 $5,270,000 $94,107 $2,545 4.74%
    $150k-250k 50 $11,390,000 $227,800 $3,629 5.00%
    $250k+ 16 $6,200,000 $387,500 $4,654 4.83%

    Range Bank lent most frequently to those with incomes in the $75k-100k range, with 77 originations. The second most popular income band? $50k-75k, with 71 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 84 $12,880,000 $153,333 $2,924 4.94%
    30-36% 70 $13,160,000 $188,000 $3,433 4.95%
    <20% 36 $5,750,000 $159,722 $3,183 4.69%
    42% 14 $2,690,000 $192,143 $2,840 4.94%
    37% 14 $2,000,000 $142,857 $2,420 4.85%
    41% 14 $2,230,000 $159,286 $3,452 4.99%
    36% 13 $3,085,000 $237,308 $3,653 4.75%
    43% 11 $2,355,000 $214,091 $3,163 4.72%
    44% 11 $1,975,000 $179,545 $3,496 5.44%
    38% 10 $1,450,000 $145,000 $2,815 5.28%
    39% 8 $1,050,000 $131,250 $2,505 4.84%
    40% 8 $1,240,000 $155,000 $3,432 4.70%
    45% 7 $1,085,000 $155,000 $2,859 5.01%
    49% 7 $1,135,000 $162,143 $2,430 4.24%
    50-60% 7 $1,545,000 $220,714 $3,769 4.96%
    48% 6 $1,010,000 $168,333 $3,519 4.58%
    46% 6 $910,000 $151,667 $3,298 5.73%
    47% 5 $445,000 $89,000 $1,677 5.35%
    >60% 1 $305,000 $305,000 $1,659 4.99%

    Range Bank lent most frequently to those with DTI ratios of 20-30%, with 84 originations. The next most common DTI ratio? 30-36%, with 70 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 336 $57,190,000 $170,208 $3,075 4.91%
    Not applicable 48 $11,530,000 $240,208 $0 4.71%
    Not provided 5 $1,165,000 $233,000 $3,830 6.00%
    Asian 3 $355,000 $118,333 $2,538 5.28%
    American Indian 1 $45,000 $45,000 $916 3.25%

    Approval Rates

    Total approvals of all applications
    95.67%

    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
    91.35%

    Range Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 393 $70,285,000 $178,842

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    393 $70,285,000 $178,842

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $4,055,000 $109,595 $1,551 4.87%
    40-60% 57 $8,825,000 $154,825 $2,501 4.35%
    60-80% 123 $26,195,000 $212,967 $3,084 4.55%
    80-100% 140 $29,660,000 $211,857 $3,813 5.22%
    Under 20% 36 $1,550,000 $43,056 $699 5.77%