North Alabama Bank Mortgage Rates, Fees & Info

Hazel Green, AL

LEI: 254900Z8HZ6PMY4EY406

Tax ID: 63-1000390

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Mortgage Data

Review & Overview

North Alabama Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Home Improvement loans. North Alabama Bank has a high proportion of conventional loans. Their top markets by origination volume include: Huntsville, Decatur, and Sevierville among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

North Alabama Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

52

Origination Dollar Volume (All Markets)

$7,630,000

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
HUNTSVILLE, AL (FHA|USDA|VA) 39 $6,105,000 $156,538 $0 0.00%
Outside of Metro Areas 6 $730,000 $121,667 $0 0.00%
DECATUR, AL (FHA|USDA|VA) 6 $560,000 $93,333 $0 0.00%
Sevierville, TN (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
North Alabama Bank's top markets include Huntsville, Decatur, and Sevierville among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 52 $7,630,000 $146,731 $0 0.00%

    For 2019, North Alabama Bank's most frequently originated type of loan was Conventional, with 52 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 26 $3,300,000 $126,923 $0 0.00%
    Cash Out Refi 13 $2,055,000 $158,077 $0 0.00%
    Home Improvement 9 $1,745,000 $193,889 $0 0.00%
    Refi 4 $530,000 $132,500 $0 0.00%

    For 2019, North Alabama Bank's most frequently cited loan purpose was Home Purchase, with 26 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 52 $7,630,000 $146,731 $0 0.00%

    For 2019, North Alabama Bank's most frequently cited loan duration was Other, with 52 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 26 $1,500,000 $57,692 $0 0.00%
    $100k-200k 16 $2,170,000 $135,625 $0 0.00%
    $200k-400k 7 $1,875,000 $267,857 $0 0.00%
    $400k-600k 2 $1,080,000 $540,000 $0 0.00%
    $1MM+ 1 $1,005,000 $1,005,000 $0 0.00%

    2019 saw North Alabama Bank place emphasis on $100,000 or less loans with 26 originations, totaling $1,500,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 6 $1,180,000 $196,667 $0 0.00%
    $50k or less 6 $290,000 $48,333 $0 0.00%
    $50k-75k 5 $685,000 $137,000 $0 0.00%
    $75k-100k 5 $585,000 $117,000 $0 0.00%
    $100k-150k 4 $870,000 $217,500 $0 0.00%
    $250k+ 4 $800,000 $200,000 $0 0.00%

    North Alabama Bank lent most frequently to those with incomes in the $150k-250k range, with 6 originations. The second most popular income band? $50k or less, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 52 $7,630,000 $146,731 $0 0.00%

    North Alabama Bank lent most frequently to those with DTI ratios of Exempt%, with 52 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 25 $3,545,000 $141,800 $0 0.00%
    Not applicable 21 $3,165,000 $150,714 $0 0.00%
    American Indian 2 $650,000 $325,000 $0 0.00%
    Not provided 2 $150,000 $75,000 $0 0.00%
    Black 1 $75,000 $75,000 $0 0.00%
    Asian 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.15%

    North Alabama Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.15%

    North Alabama Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 52 $7,630,000 $146,731

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $125,000 $125,000
    Multifamily:Site-Built 1 $205,000 $205,000
    Single Family (1-4 Units):Manufactured 6 $240,000 $40,000
    Single Family (1-4 Units):Site-Built 44 $7,060,000 $160,455