Prosper Bank Mortgage Rates, Fees & Info

Coatesville, PA

LEI: 254900U38QOOLJB8FS91

Tax ID: 23-1580399

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Mortgage Data

Review & Overview

Prosper Bank is a smaller bank specializing in Home Purchase and Refi loans. Prosper Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Lancaster, Salisbury, Dover, and Harrisburg among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Prosper 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.

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Originations

58

Origination Dollar Volume (All Markets)

$25,670,000

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
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 27 $13,775,000 $510,185 $0 0.00%
LANCASTER, PA (FHA|USDA|VA) 14 $3,350,000 $239,286 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $2,005,000 $2,005,000 $0 0.00%
DOVER, DE (FHA|USDA|VA) 1 $2,005,000 $2,005,000 $0 0.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 8 $1,990,000 $248,750 $0 0.00%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $1,215,000 $1,215,000 $0 0.00%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $555,000 $555,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
LEBANON, PA (FHA|USDA|VA) 2 $260,000 $130,000 $0 0.00%
St. Marys, PA (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Prosper Bank's top markets include Philadelphia, Lancaster, Salisbury, Dover, and Harrisburg among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 58 $25,670,000 $442,586 $0 0.00%

    For 2022, Prosper Bank's most frequently originated type of loan was Conventional, with 58 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 37 $19,065,000 $515,270 $0 0.00%
    Refi 20 $6,480,000 $324,000 $0 0.00%
    Other 1 $125,000 $125,000 $0 0.00%

    For 2022, Prosper Bank's most frequently cited loan purpose was Home Purchase, with 37 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 58 $25,670,000 $442,586 $0 0.00%

    For 2022, Prosper Bank's most frequently cited loan duration was Other, with 58 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 17 $4,935,000 $290,294 $0 0.00%
    $100k-200k 15 $2,275,000 $151,667 $0 0.00%
    $400k-600k 8 $3,810,000 $476,250 $0 0.00%
    $100,000 or less 7 $605,000 $86,429 $0 0.00%
    $1MM+ 6 $10,060,000 $1,676,667 $0 0.00%
    $600k-1MM 5 $3,985,000 $797,000 $0 0.00%

    2022 saw Prosper Bank place emphasis on $200k-400k loans with 17 originations, totaling $4,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 9 $4,945,000 $549,444 $0 0.00%
    $100k-150k 5 $1,315,000 $263,000 $0 0.00%
    $50k-75k 4 $620,000 $155,000 $0 0.00%
    $75k-100k 4 $670,000 $167,500 $0 0.00%
    $150k-250k 2 $270,000 $135,000 $0 0.00%
    $50k or less 2 $250,000 $125,000 $0 0.00%

    Prosper Bank lent most frequently to those with incomes in the $250k+ range, with 9 originations. The second most popular income band? $100k-150k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 58 $25,670,000 $442,586 $0 0.00%

    Prosper Bank lent most frequently to those with DTI ratios of Exempt%, with 58 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 30 $17,210,000 $573,667 $0 0.00%
    Not provided 9 $4,335,000 $481,667 $0 0.00%
    White 18 $3,770,000 $209,444 $0 0.00%
    Asian 1 $355,000 $355,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Prosper 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
    94.83%

    Prosper Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 58 $25,670,000 $442,586

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    58 $25,670,000 $442,586