The Bank Of Marion Mortgage Rates, Fees & Info
MARION, VALEI: 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.79% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
389Origination Dollar Volume (All Markets)
$61,845,000Top 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% |
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
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
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
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
Approval Rates
Total approvals of all applications83.17%
The Bank Of Marion has a below average approval rate.
Pick Rate
Approvals leading to origination93.32%
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 |