Georgia Banking Company Mortgage Rates, Fees & Info

Atlanta, GA

LEI: 5493001P6QB5ISAUNV97

Tax ID: 58-2657635

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Mortgage Data

Review & Overview

Georgia Banking Company is a smaller bank specializing in Home Purchase and Refi loans. Georgia Banking Company has a high proportion of conventional loans.

Georgia Banking Company 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.

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

83

Origination Dollar Volume (All Markets)

$62,845,000

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 83 $62,845,000 $757,169 $0 0.00%
Georgia Banking Company's top markets include

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

    We use machine learning to identify the top lenders compared against Georgia Banking Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    LGE COMMUNITY
    Similarity Rank: 546
    AMERICAN HOME MORTGAGE, INC.
    Similarity Rank: 900
    East West Bank
    Similarity Rank: 925
    SANCTUARY HOME MORTGAGE LLC
    Similarity Rank: 1076
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 1320
    Allen Tate Mortgage Partners, LLC
    Similarity Rank: 1377
    MATTAMY HOME FUNDING, LLC
    Similarity Rank: 1395
    United Bank
    Similarity Rank: 1584

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 83 $62,845,000 $757,169 $0 0.00%

    For 2023, Georgia Banking Company's most frequently originated type of loan was Conventional, with 83 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 35 $6,145,000 $175,571 $0 0.00%
    Home Purchase 29 $34,695,000 $1,196,379 $0 0.00%
    Cash Out Refi 12 $4,870,000 $405,833 $0 0.00%
    Refi 7 $17,135,000 $2,447,857 $0 0.00%

    For 2023, Georgia Banking Company's most frequently cited loan purpose was Other, with 35 originations. The 2nd most popular reason was Home Purchase, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 83 $62,845,000 $757,169 $0 0.00%

    For 2023, Georgia Banking Company's most frequently cited loan duration was Other, with 83 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 32 $1,220,000 $38,125 $0 0.00%
    $100k-200k 16 $2,330,000 $145,625 $0 0.00%
    $200k-400k 14 $3,750,000 $267,857 $0 0.00%
    $600k-1MM 9 $6,825,000 $758,333 $0 0.00%
    $400k-600k 7 $3,295,000 $470,714 $0 0.00%
    $1MM+ 5 $45,425,000 $9,085,000 $0 0.00%

    2023 saw Georgia Banking Company place emphasis on $100,000 or less loans with 32 originations, totaling $1,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 21 $10,845,000 $516,429 $0 0.00%
    $100k-150k 15 $2,135,000 $142,333 $0 0.00%
    $150k-250k 11 $2,305,000 $209,545 $0 0.00%
    $50k-75k 11 $315,000 $28,636 $0 0.00%
    $50k or less 7 $145,000 $20,714 $0 0.00%
    $75k-100k 6 $470,000 $78,333 $0 0.00%

    Georgia Banking Company lent most frequently to those with incomes in the $250k+ range, with 21 originations. The second most popular income band? $100k-150k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 83 $62,845,000 $757,169 $0 0.00%

    Georgia Banking Company lent most frequently to those with DTI ratios of Exempt%, with 83 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 7 $44,835,000 $6,405,000 $0 0.00%
    White 48 $11,980,000 $249,583 $0 0.00%
    Asian 6 $2,640,000 $440,000 $0 0.00%
    Not provided 7 $1,785,000 $255,000 $0 0.00%
    Black 15 $1,605,000 $107,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.87%

    Georgia Banking Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    80.72%

    Georgia Banking Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 83 $62,845,000 $757,169

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    83 $62,845,000 $757,169