Mainstreet Bank Mortgage Rates, Fees & Info

Alexandria, VA

LEI: 254900SOAE0WU8JM0177

Tax ID: 47-0914596

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Mainstreet Bank is a smaller bank specializing in Home Purchase and Refi loans. Mainstreet Bank has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Charlottesville, and Richmond among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mainstreet Bank 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.

    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.


    Originations

    146

    Origination Dollar Volume (All Markets)

    $149,700,000

    Employee count

    125

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 137 $143,345,000 $1,046,314 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 7 $4,505,000 $643,571 $0 0.00%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $1,755,000 $1,755,000 $0 0.00%
    RICHMOND, VA (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    Mainstreet Bank's top markets include Washington, Baltimore, Charlottesville, and Richmond among others.

    Their top states include:
  • District of Columbia (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 146 $149,700,000 $1,025,342 $0 0.00%

    For 2019, Mainstreet Bank's most frequently originated type of loan was Conventional, with 146 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 107 $91,595,000 $856,028 $0 0.00%
    Refi 24 $43,150,000 $1,797,917 $0 0.00%
    Home Improvement 14 $14,940,000 $1,067,143 $0 0.00%
    Other 1 $15,000 $15,000 $0 0.00%

    For 2019, Mainstreet Bank's most frequently cited loan purpose was Home Purchase, with 107 originations. The 2nd most popular reason was Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 146 $149,700,000 $1,025,342 $0 0.00%

    For 2019, Mainstreet Bank's most frequently cited loan duration was Other, with 146 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 40 $103,000,000 $2,575,000 $0 0.00%
    $200k-400k 31 $8,855,000 $285,645 $0 0.00%
    $600k-1MM 30 $23,090,000 $769,667 $0 0.00%
    $400k-600k 25 $12,165,000 $486,600 $0 0.00%
    $100k-200k 16 $2,320,000 $145,000 $0 0.00%
    $100,000 or less 4 $270,000 $67,500 $0 0.00%

    2019 saw Mainstreet Bank place emphasis on $1MM+ loans with 40 originations, totaling $103,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 7 $7,155,000 $1,022,143 $0 0.00%
    $150k-250k 4 $1,990,000 $497,500 $0 0.00%
    $100k-150k 3 $785,000 $261,667 $0 0.00%
    $50k-75k 2 $930,000 $465,000 $0 0.00%
    $75k-100k 1 $85,000 $85,000 $0 0.00%

    Mainstreet Bank lent most frequently to those with incomes in the $250k+ range, with 7 originations. The second most popular income band? $150k-250k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 146 $149,700,000 $1,025,342 $0 0.00%

    Mainstreet Bank lent most frequently to those with DTI ratios of Exempt%, with 146 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 127 $138,395,000 $1,089,724 $0 0.00%
    White 9 $6,595,000 $732,778 $0 0.00%
    Asian 5 $2,275,000 $455,000 $0 0.00%
    Not provided 3 $1,505,000 $501,667 $0 0.00%
    Black 2 $930,000 $465,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.02%

    Mainstreet Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.88%

    Mainstreet Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 146 $149,700,000 $1,025,342

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 14 $62,160,000 $4,440,000
    Single Family (1-4 Units):Site-Built 132 $87,540,000 $663,182

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    MainStreet Bank 1000 N. Highland Street Arlington, VA 22201 Full Service B&M $23,978
    MainStreet Bank 10089 Fairfax Blvd Fairfax, VA 22030 Full Service B&M $570,135
    MainStreet Bank 307 E Market St Leesburg, VA 20176 Full Service B&M $31,432
    MainStreet Bank 4029 Chain Bridge Road Fairfax, VA 22030 Full Service B&M $165,772
    MainStreet Bank 6832 Old Dominion Drive, Suite 105 Mc Lean, VA 22101 Full Service B&M $113,714
    MainStreet Bank 727 Elden Street Herndon, VA 20170 Full Service B&M $108,424

    For 2019, Mainstreet Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $59,106
    Net interest income $40,695
    Total noninterest income $4,564
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,110
    Trading account gains and fees $0
    Additional Noninterest Income $3,454
    Pre-tax net operating income $18,348
    Securities gains (or losses, -) $5
    Income before extraordinary items $14,779
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $14,779
    Minority interest net income $0
    Net income $14,779
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $14,774

    Mainstreet Bank's gross interest income from loans was $59,106,000.
    Mainstreet Bank's net interest income from loans was $40,695,000.
    Mainstreet Bank's fee based income from loans was $1,110,000.
    Mainstreet Bank's net income from loans was $14,779,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $18,411
    Provision for credit losses $1,618
    Total noninterest expense $25,293
    Salaries and employee benefits $15,819
    Premises and equipment expense $2,592
    Additional noninterest expense $6,882
    Applicable income taxes $3,574
    Net charge-offs $865
    Cash dividends $0

    Mainstreet Bank's interest expense for loans was $18,411,000.
    Mainstreet Bank's payroll and benefits expense were $15,819,000.
    Mainstreet Bank's property, plant and equipment expenses $2,592,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,073,589
    Deposits held in domestic offices $1,073,589
    Deposits by Individuals, partnerships, and corporations $758,878
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $77,941
    Deposits by Commercial banks and other depository institutions in U.S. $236,770
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $358,537
    Demand deposits $307,749
    Nontransaction accounts $715,052
    Money market deposit accounts (MMDAs) $141,338
    Other savings deposits (excluding MMDAs) $12,226
    Total time deposits $561,489
    Total time and savings deposits $765,840
    Noninterest-bearing deposits $253,807
    Interest-bearing deposits $819,782
    Retail deposits $623,987
    IRAs and Keogh plan accounts $3,588
    Brokered deposits $237,542
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,277,238
    Cash & Balances due from depository institutions $53,376
    Interest-bearing balances $41,440
    Total securities $115,206
    Federal funds sold & reverse repurchase $11,468
    Net loans and leases $1,030,425
    Loan and leases loss allowance $9,584
    Trading account assets $0
    Bank premises and fixed assets $20,618
    Other real estate owned $1,207
    Goodwill and other intangibles $0
    All other assets $44,938

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,277,238
    Total Liabilities $1,128,507
    Total deposits $1,073,589
    Interest-bearing deposits $819,782
    Deposits held in domestic offices $1,073,589
    % insured (estimated) $61
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $46,701
    Subordinated debt $0
    All other liabilities $8,217

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,030,425
    Loan and leases loss allowance $9,584
    Total loans and leases (domestic) $1,040,009
    All real estate loans $845,338
    Real estate loans in domestic offices $845,338
    Construction and development loans $272,620
    Residential 1-4 family construction $73,989
    Other construction, all land development and other land $198,631
    Loans secured by nonfarm nonresidential properties $421,870
    Nonfarm nonresidential secured by owner-occupied properties $134,116
    Commercial real estate & other non-farm, non-residential $287,754
    Multifamily residential real estate $6,512
    1-4 family residential loans $143,535
    Farmland loans $801
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $120,900
    To non-U.S. addressees $0
    Loans to individuals $75,908
    Credit card loans $0
    Related Plans $887
    Consumer Auto Loans $74,740
    Other loans to individuals $281
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    MainStreet Bank had $1,030,425,000 of loans outstanding in 2019. $845,338,000 of loans were in real estate loans. $272,620,000 of loans were in development loans. $6,512,000 of loans were in multifamily mortgage loans. $143,535,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $74,740,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 137 $58,940 $430,219
    Nonfarm, nonresidential loans - <$100k 1 $30 $30,000
    Nonfarm, nonresidential loans - $100-250k 27 $3,841 $142,259
    Nonfarm, nonresidential loans - $250k-1MM 109 $55,069 $505,220
    Commercial & Industrial, US addressed loans - <$1MM 137 $26,675 $194,708
    Commercial & Industrial, US addressed loans - <$100k 40 $1,519 $37,975
    Commercial & Industrial, US addressed loans - $100-250k 44 $5,196 $118,091
    Commercial & Industrial, US addressed loans - $250k-1MM 53 $19,960 $376,604
    Farmland loans - <$1MM 1 $101 $101,000
    Farmland loans - $100-250k 1 $101 $101,000