Mainstreet Bank Mortgage Rates, Fees & Info

Alexandria, VA

LEI: 254900SOAE0WU8JM0177

Tax ID: 47-0914596

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Mortgage Data

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, Winchester, Virginia Beach, and Baltimore 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.

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Originations

109

Origination Dollar Volume (All Markets)

$277,275,000

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) 105 $259,685,000 $2,473,190 $0 0.00%
WINCHESTER, VA-WV (FHA|USDA|VA) 2 $15,290,000 $7,645,000 $0 0.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $1,155,000 $1,155,000 $0 0.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $1,145,000 $1,145,000 $0 0.00%
Mainstreet Bank's top markets include Washington, Winchester, Virginia Beach, and Baltimore 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 109 $277,275,000 $2,543,807 $0 0.00%

    For 2022, Mainstreet Bank's most frequently originated type of loan was Conventional, with 109 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 76 $182,080,000 $2,395,789 $0 0.00%
    Refi 19 $63,815,000 $3,358,684 $0 0.00%
    Home Improvement 14 $31,380,000 $2,241,429 $0 0.00%

    For 2022, Mainstreet Bank's most frequently cited loan purpose was Home Purchase, with 76 originations. The 2nd most popular reason was Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 109 $277,275,000 $2,543,807 $0 0.00%

    For 2022, Mainstreet Bank's most frequently cited loan duration was Other, with 109 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 78 $258,810,000 $3,318,077 $0 0.00%
    $600k-1MM 15 $12,265,000 $817,667 $0 0.00%
    $200k-400k 9 $2,975,000 $330,556 $0 0.00%
    $400k-600k 6 $3,120,000 $520,000 $0 0.00%
    $100k-200k 1 $105,000 $105,000 $0 0.00%

    2022 saw Mainstreet Bank place emphasis on $1MM+ loans with 78 originations, totaling $258,810,000 in origination value.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 109 $277,275,000 $2,543,807 $0 0.00%

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 106 $274,580,000 $2,590,377 $0 0.00%
    Not provided 1 $1,395,000 $1,395,000 $0 0.00%
    Black 2 $1,300,000 $650,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.43%

    Mainstreet Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.57%

    Mainstreet Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 109 $277,275,000 $2,543,807

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    109 $277,275,000 $2,543,807