The Glen Burnie Mutual Savings Bank Mortgage Rates, Fees & Info
Glen Burnie, MDLEI: 254900U6H520K7TCA169
Tax ID: 52-0328134
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Mortgage Data
Review & Overview
The Glen Burnie Mutual Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. The Glen Burnie Mutual Savings Bank has a high proportion of conventional loans. Their top (well, only) market is Baltimore.The Glen Burnie Mutual Savings Bank has an above average approval rate when compared to the average across all lenders. The Glen Burnie Mutual Savings 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.
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Originations
11Origination Dollar Volume (All Markets)
$2,655,000Awards
The Glen Burnie Mutual Savings Bank - 2020
The Glen Burnie Mutual Savings Bank is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 11 | $2,655,000 | $241,364 | $2,492 | 4.30% |
Similar Lenders
We use machine learning to identify the top lenders compared against The Glen Burnie Mutual Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 11 | $2,655,000 | $241,364 | $2,492 | 4.30% |
For 2020, The Glen Burnie Mutual Savings Bank's most frequently originated type of loan was Conventional, with 11 originations.
Loan Reason
For 2020, The Glen Burnie Mutual Savings Bank's most frequently cited loan purpose was Refi, with 5 originations. The 2nd most popular reason was Home Purchase, with 4 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 11 | $2,655,000 | $241,364 | $2,492 | 4.30% |
For 2020, The Glen Burnie Mutual Savings Bank's most frequently cited loan duration was 30 Year, with 11 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 10 | $2,290,000 | $229,000 |
| $1k-2k | 1 | $365,000 | $365,000 |
The Glen Burnie Mutual Savings Bank's average total fees were $2,492, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 8 | $2,300,000 | $287,500 |
| 5-6% | 3 | $355,000 | $118,333 |
During 2020, The Glen Burnie Mutual Savings Bank's average interest rate for loans was 4.30%, while their most frequently originated rate bucket for loans was 3-4%, with 8 originations.
Loan Sizing
2020 saw The Glen Burnie Mutual Savings Bank place emphasis on $200k-400k loans with 7 originations, totaling $2,115,000 in origination value.
Applicant Income
The Glen Burnie Mutual Savings Bank lent most frequently to those with incomes in the $75k-100k range, with 4 originations. The second most popular income band? $100k-150k, with 2 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| <20% | 4 | $1,070,000 | $267,500 | $2,763 | 3.56% |
| 20-30% | 3 | $975,000 | $325,000 | $2,656 | 3.75% |
| 30-36% | 1 | $255,000 | $255,000 | $2,335 | 3.75% |
The Glen Burnie Mutual Savings Bank lent most frequently to those with DTI ratios of <20%, with 4 originations. The next most common DTI ratio? 20-30%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 8 | $2,300,000 | $287,500 | $2,669 | 3.66% |
| Not applicable | 3 | $355,000 | $118,333 | $2,020 | 6.00% |
Approval Rates
Total approvals of all applications100.00%
The Glen Burnie Mutual Savings 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 11 | $2,655,000 | $241,364 |