Bank Of Romney Mortgage Rates, Fees & Info
Romney, WVLEI: 254900IV7U7HAN6U7T54
Tax ID: 55-0267603
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Mortgage Data
Review & Overview
Bank Of Romney is a smaller bank specializing in Home Purchase and Refi loans. Bank Of Romney has a high proportion of conventional loans. Their top two markets are Winchester and Hagerstown .Bank Of Romney has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
106Origination Dollar Volume (All Markets)
$15,430,000Top 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 |
|---|---|---|---|---|---|
| WINCHESTER, VA-WV (FHA|USDA|VA) | 59 | $7,585,000 | $128,559 | $0 | 0.00% |
| Outside of Metro Areas | 30 | $6,320,000 | $210,667 | $0 | 0.00% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 17 | $1,525,000 | $89,706 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 106 | $15,430,000 | $145,566 | $0 | 0.00% |
For 2023, Bank Of Romney's most frequently originated type of loan was Conventional, with 106 originations.
Loan Reason
For 2023, Bank Of Romney's most frequently cited loan purpose was Home Purchase, with 47 originations. The 2nd most popular reason was Refi, with 26 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 106 | $15,430,000 | $145,566 | $0 | 0.00% |
For 2023, Bank Of Romney's most frequently cited loan duration was Other, with 106 originations.
Loan Sizing
2023 saw Bank Of Romney place emphasis on $100,000 or less loans with 63 originations, totaling $2,895,000 in origination value.
Applicant Income
Bank Of Romney lent most frequently to those with incomes in the $50k or less range, with 25 originations. The second most popular income band? $50k-75k, with 24 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 106 | $15,430,000 | $145,566 | $0 | 0.00% |
Bank Of Romney lent most frequently to those with DTI ratios of Exempt%, with 106 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.16%
Bank Of Romney has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.68%
Bank Of Romney has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 106 | $15,430,000 | $145,566 |