Magnolia State Bank Mortgage Rates, Fees & Info

Eastman, GA

LEI: 254900Z8I9USTJ1JA072

Tax ID: 58-0152760

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Magnolia State Bank is a smaller bank specializing in Home Purchase loans. Magnolia State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Milledgeville, Athens, Warner Robins, Atlanta, and Macon among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Magnolia State Bank has an above average approval rate when compared to the average across all lenders. They have an above 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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    Originations

    64

    Origination Dollar Volume (All Markets)

    $14,240,000

    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
    Milledgeville, GA (FHA|USDA|VA) 31 $9,025,000 $291,129 $0 0.00%
    Outside of Metro Areas 17 $2,235,000 $131,471 $0 0.00%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $1,315,000 $1,315,000 $0 0.00%
    WARNER ROBINS, GA (FHA|USDA|VA) 9 $855,000 $95,000 $0 0.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $550,000 $275,000 $0 0.00%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 2 $130,000 $65,000 $0 0.00%
    Dublin, GA (FHA|USDA|VA) 2 $130,000 $65,000 $0 0.00%
    Magnolia State Bank's top markets include Milledgeville, Athens, Warner Robins, Atlanta, and Macon among others.

    Their top states include:
  • Georgia (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 64 $14,240,000 $222,500 $0 0.00%

    For 2024, Magnolia State Bank's most frequently originated type of loan was Conventional, with 64 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 34 $11,340,000 $333,529 $0 0.00%
    Refi 17 $1,195,000 $70,294 $0 0.00%
    Cash Out Refi 10 $770,000 $77,000 $0 0.00%
    Home Improvement 2 $180,000 $90,000 $0 0.00%
    Other 1 $755,000 $755,000 $0 0.00%

    For 2024, Magnolia State Bank's most frequently cited loan purpose was Home Purchase, with 34 originations. The 2nd most popular reason was Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 64 $14,240,000 $222,500 $0 0.00%

    For 2024, Magnolia State Bank's most frequently cited loan duration was Other, with 64 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 40 $2,290,000 $57,250 $0 0.00%
    $100k-200k 11 $1,575,000 $143,182 $0 0.00%
    $1MM+ 4 $5,560,000 $1,390,000 $0 0.00%
    $200k-400k 4 $1,270,000 $317,500 $0 0.00%
    $600k-1MM 3 $2,565,000 $855,000 $0 0.00%
    $400k-600k 2 $980,000 $490,000 $0 0.00%

    2024 saw Magnolia State Bank place emphasis on $100,000 or less loans with 40 originations, totaling $2,290,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 13 $495,000 $38,077 $0 0.00%
    $75k-100k 9 $1,015,000 $112,778 $0 0.00%
    $100k-150k 5 $1,325,000 $265,000 $0 0.00%
    $150k-250k 4 $960,000 $240,000 $0 0.00%
    $50k-75k 4 $280,000 $70,000 $0 0.00%
    $250k+ 2 $1,000,000 $500,000 $0 0.00%

    Magnolia State Bank lent most frequently to those with incomes in the $50k or less range, with 13 originations. The second most popular income band? $75k-100k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 64 $14,240,000 $222,500 $0 0.00%

    Magnolia State Bank lent most frequently to those with DTI ratios of Exempt%, with 64 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 26 $9,090,000 $349,615 $0 0.00%
    White 25 $3,505,000 $140,200 $0 0.00%
    Black 11 $925,000 $84,091 $0 0.00%
    Asian Indian 1 $575,000 $575,000 $0 0.00%
    Not provided 1 $145,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.86%

    Magnolia State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    98.44%

    Magnolia State Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 64 $14,240,000 $222,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    64 $14,240,000 $222,500