The Bank Of Marion Mortgage Rates, Fees & Info
MARION, VALEI: 254900V7NEE9M236MZ98
Tax ID: 54-0132780
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
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. The Bank Of Marion has a low ratio of conventional loans. Their top markets by origination volume include: Kingsport, Blacksburg, Johnson City, Bluefield, and Mount Airy among others. We have data for 8 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. The Bank Of Marion 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.
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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.02% | 4/5/25 |
| 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
331Origination Dollar Volume (All Markets)
$55,595,000Relative Rate
The Bank Of Marion's average 30 year fixed mortgage rate was
6.67%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.12%.
Relative Fees (Closing Costs)
The Bank Of Marion's average total fees/closing costs for a 30 year fixed rate
mortgage were $1,086.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 | 188 | $25,920,000 | $137,872 | $1,598 | 6.34% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 108 | $23,160,000 | $214,444 | $574 | 6.99% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 24 | $4,670,000 | $194,583 | $0 | 0.00% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 4 | $1,050,000 | $262,500 | $0 | 0.00% |
| Bluefield, WV-VA (FHA|USDA|VA) | 4 | $280,000 | $70,000 | $0 | 0.00% |
| Mount Airy, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 329 | $55,315,000 | $168,131 | $0 | 0.00% |
| Conventional | 2 | $280,000 | $140,000 | $1,086 | 6.67% |
For 2024, The Bank Of Marion's most frequently originated type of loan was Conventional, with 329 originations. Their 2nd most popular type was Conventional, with 2 originations.
Loan Reason
For 2024, The Bank Of Marion's most frequently cited loan purpose was Home Purchase, with 177 originations. The 2nd most popular reason was Refi, with 68 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 329 | $55,315,000 | $168,131 | $0 | 0.00% |
| 30 Year | 2 | $280,000 | $140,000 | $1,086 | 6.67% |
For 2024, The Bank Of Marion's most frequently cited loan duration was Other, with 329 originations. The 2nd most popular length was 30 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2 | $280,000 | $140,000 |
The Bank Of Marion's average total fees were $1,086, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 2 | $280,000 | $140,000 |
During 2024, The Bank Of Marion's average interest rate for loans was 6.67%, while their most frequently originated rate bucket for loans was 6-7%, with 2 originations.
Loan Sizing
2024 saw The Bank Of Marion place emphasis on $100,000 or less loans with 130 originations, totaling $7,600,000 in origination value.
Applicant Income
The Bank Of Marion lent most frequently to those with incomes in the $50k-75k range, with 85 originations. The second most popular income band? $100k-150k, with 75 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 329 | $55,315,000 | $168,131 | $0 | 0.00% |
| <20% | 1 | $55,000 | $55,000 | $574 | 6.99% |
| 20-30% | 1 | $225,000 | $225,000 | $1,598 | 6.34% |
The Bank Of Marion lent most frequently to those with DTI ratios of Exempt%, with 329 originations. The next most common DTI ratio? <20%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.21%
The Bank Of Marion has an average approval rate.
Pick Rate
Approvals leading to origination94.26%
The Bank Of Marion has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 329 | $55,315,000 | $168,131 |
| NA | 2 | $280,000 | $140,000 |