The Bank Of Marion Mortgage Rates, Fees & Info

MARION, VA

LEI: 254900V7NEE9M236MZ98

Tax ID: 54-0132780

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Mortgage Data

Review & Overview

The Bank Of Marion is a smaller bank specializing in Home Purchase loans. The Bank Of Marion has a high proportion of conventional loans. Their top markets by origination volume include: Kingsport, Johnson City, Blacksburg, Roanoke, and Mount Airy among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Bank Of Marion has an average approval rate when compared to the average across all lenders. They have an 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 5.79% 7/11/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

The Bank Of Marion Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from The Bank Of Marion. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

389

Origination Dollar Volume (All Markets)

$61,845,000

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
Outside of Metro Areas 212 $28,410,000 $134,009 $0 0.00%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 134 $25,090,000 $187,239 $0 0.00%
JOHNSON CITY, TN (FHA|USDA|VA) 13 $3,045,000 $234,231 $0 0.00%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 16 $2,770,000 $173,125 $0 0.00%
ROANOKE, VA (FHA|USDA|VA) 3 $525,000 $175,000 $0 0.00%
Mount Airy, NC (FHA|USDA|VA) 2 $420,000 $210,000 $0 0.00%
Greeneville, TN (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
Bluefield, WV-VA (FHA|USDA|VA) 4 $350,000 $87,500 $0 0.00%
Forest City, NC (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
HARRISONBURG, VA (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
MORRISTOWN, TN (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Big Stone Gap, VA (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
The Bank Of Marion's top markets include Kingsport, Johnson City, Blacksburg, Roanoke, and Mount Airy among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 389 $61,845,000 $158,985 $0 0.00%

    For 2023, The Bank Of Marion's most frequently originated type of loan was Conventional, with 389 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 243 $46,655,000 $191,996 $0 0.00%
    Refi 75 $10,305,000 $137,400 $0 0.00%
    Other 44 $2,900,000 $65,909 $0 0.00%
    Home Improvement 27 $1,985,000 $73,519 $0 0.00%

    For 2023, The Bank Of Marion's most frequently cited loan purpose was Home Purchase, with 243 originations. The 2nd most popular reason was Refi, with 75 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 389 $61,845,000 $158,985 $0 0.00%

    For 2023, The Bank Of Marion's most frequently cited loan duration was Other, with 389 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 153 $8,925,000 $58,333 $0 0.00%
    $100k-200k 129 $18,865,000 $146,240 $0 0.00%
    $200k-400k 92 $25,850,000 $280,978 $0 0.00%
    $400k-600k 11 $5,215,000 $474,091 $0 0.00%
    $600k-1MM 4 $2,990,000 $747,500 $0 0.00%

    2023 saw The Bank Of Marion place emphasis on $100,000 or less loans with 153 originations, totaling $8,925,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 102 $8,680,000 $85,098 $0 0.00%
    $50k-75k 87 $11,875,000 $136,494 $0 0.00%
    $100k-150k 83 $15,665,000 $188,735 $0 0.00%
    $75k-100k 67 $9,695,000 $144,701 $0 0.00%
    $150k-250k 27 $7,505,000 $277,963 $0 0.00%
    $250k+ 20 $7,440,000 $372,000 $0 0.00%

    The Bank Of Marion lent most frequently to those with incomes in the $50k or less range, with 102 originations. The second most popular income band? $50k-75k, with 87 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 389 $61,845,000 $158,985 $0 0.00%

    The Bank Of Marion lent most frequently to those with DTI ratios of Exempt%, with 389 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 382 $59,460,000 $155,654 $0 0.00%
    Asian 3 $1,265,000 $421,667 $0 0.00%
    Black 3 $905,000 $301,667 $0 0.00%
    American Indian 1 $215,000 $215,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    83.17%

    The Bank Of Marion has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    93.32%

    The Bank Of Marion has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 389 $61,845,000 $158,985

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    389 $61,845,000 $158,985