Mckenzie Banking Company Mortgage Rates, Fees & Info
McKenzie, TNLEI: 5493001TKHVR1XBO7H51
Tax ID: 62-1252500
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Mortgage Data
Review & Overview
Mckenzie Banking Company is a smaller bank specializing in Home Purchase loans. Mckenzie Banking Company has a high proportion of conventional loans. Their top markets by origination volume include: Jackson, Paris, Nashville, Memphis, and Clarksville among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Mckenzie Banking Company has an 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
70Origination Dollar Volume (All Markets)
$11,780,000Top 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 |
|---|---|---|---|---|---|
| JACKSON, TN (FHA|USDA|VA) | 29 | $5,795,000 | $199,828 | $0 | 0.00% |
| Paris, TN (FHA|USDA|VA) | 14 | $1,910,000 | $136,429 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 4 | $1,710,000 | $427,500 | $0 | 0.00% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $0 | 0.00% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $295,000 | $98,333 | $0 | 0.00% |
| Dyersburg, TN (FHA|USDA|VA) | 4 | $280,000 | $70,000 | $0 | 0.00% |
| Martin, TN (FHA|USDA|VA) | 3 | $185,000 | $61,667 | $0 | 0.00% |
| Union City, TN (FHA|USDA|VA) | 4 | $170,000 | $42,500 | $0 | 0.00% |
| CLEVELAND, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| TULSA, OK (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Brownsville, TN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 70 | $11,780,000 | $168,286 | $0 | 0.00% |
For 2023, Mckenzie Banking Company's most frequently originated type of loan was Conventional, with 70 originations.
Loan Reason
For 2023, Mckenzie Banking Company's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Home Improvement, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 70 | $11,780,000 | $168,286 | $0 | 0.00% |
For 2023, Mckenzie Banking Company's most frequently cited loan duration was Other, with 70 originations.
Loan Sizing
2023 saw Mckenzie Banking Company place emphasis on $100,000 or less loans with 28 originations, totaling $1,580,000 in origination value.
Applicant Income
Mckenzie Banking Company lent most frequently to those with incomes in the $75k-100k range, with 17 originations. The second most popular income band? $50k or less, with 14 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 70 | $11,780,000 | $168,286 | $0 | 0.00% |
Mckenzie Banking Company lent most frequently to those with DTI ratios of Exempt%, with 70 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.36%
Mckenzie Banking Company has a below average approval rate.
Pick Rate
Approvals leading to origination75.71%
Mckenzie Banking Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 70 | $11,780,000 | $168,286 |