Essex Bank Mortgage Rates, Fees & Info
Richmond, VALEI: 5493002ONSVZNJT6QU36
Tax ID: 54-0132580
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Mortgage Data
Review & Overview
Essex Bank is a smaller bank specializing in Refi and Home Purchase loans. Essex Bank has a high proportion of conventional loans. Their top markets by origination volume include: Richmond, Lynchburg, Baltimore, Washington, and Charlottesville among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Essex Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.
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Originations
456Origination Dollar Volume (All Markets)
$119,430,000Top 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 |
|---|---|---|---|---|---|
| RICHMOND, VA (FHA|USDA|VA) | 188 | $39,280,000 | $208,936 | $0 | 0.00% |
| LYNCHBURG, VA (FHA|USDA|VA) | 27 | $35,405,000 | $1,311,296 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 91 | $15,795,000 | $173,571 | $0 | 0.00% |
| Outside of Metro Areas | 99 | $14,535,000 | $146,818 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 37 | $5,505,000 | $148,784 | $0 | 0.00% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 6 | $3,310,000 | $551,667 | $0 | 0.00% |
| Martinsville, VA (FHA|USDA|VA) | 1 | $2,645,000 | $2,645,000 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 4 | $1,960,000 | $490,000 | $0 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $0 | 0.00% |
| Easton, MD (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Danville, VA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 456 | $119,430,000 | $261,908 | $0 | 0.00% |
For 2021, Essex Bank's most frequently originated type of loan was Conventional, with 456 originations.
Loan Reason
For 2021, Essex Bank's most frequently cited loan purpose was Refi, with 198 originations. The 2nd most popular reason was Home Improvement, with 115 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 456 | $119,430,000 | $261,908 | $0 | 0.00% |
For 2021, Essex Bank's most frequently cited loan duration was Other, with 456 originations.
Loan Sizing
2021 saw Essex Bank place emphasis on $100,000 or less loans with 199 originations, totaling $11,285,000 in origination value.
Applicant Income
Essex Bank lent most frequently to those with incomes in the $150k-250k range, with 91 originations. The second most popular income band? $100k-150k, with 66 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 456 | $119,430,000 | $261,908 | $0 | 0.00% |
Essex Bank lent most frequently to those with DTI ratios of Exempt%, with 456 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.21%
Essex Bank has an average approval rate.
Pick Rate
Approvals leading to origination92.98%
Essex Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 456 | $119,430,000 | $261,908 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Essex Bank | 100 Broad Street Road Manakin Sabot, VA 23103 | Full Service B&M | $114,004 |
| Essex Bank | 1101 Nelson Street Rockville, MD 20850 | Full Service B&M | $28,213 |
| Essex Bank | 12254 West Broad Marketplace Henrico, VA 23233 | Full Service B&M | $35,836 |
| Essex Bank | 1230 Race Rd Baltimore, MD 21237 | Full Service B&M | $55,812 |
| Essex Bank | 12640 Stone Village Way Midlothian, VA 23113 | Full Service B&M | $17,763 |
| Essex Bank | 1325tappahannock Blvd Tappahannock, VA 22560 | Full Service B&M | $138,725 |
| Essex Bank | 14750 Northumberland Highway Burgess, VA 22432 | Full Service B&M | $27,079 |
| Essex Bank | 1681 Main Street West Point, VA 23181 | Full Service B&M | $52,010 |
| Essex Bank | 1835 West Street Annapolis, MD 21401 | Full Service B&M | $60,239 |
| Essex Bank | 1949 Sandy Hook Road Goochland, VA 23063 | Full Service B&M | $68,007 |
| Essex Bank | 2120 Baldwin Avenue Crofton, MD 21114 | Full Service Retail | $87,814 |
| Essex Bank | 21437 Timberlake Road Lynchburg, VA 24502 | Full Service B&M | $34,855 |
| Essex Bank | 217 East Main Street Louisa, VA 23093 | Full Service B&M | $117,008 |
| Essex Bank | 2320 Anderson Highway Powhatan, VA 23139 | Full Service B&M | $154,967 |
| Essex Bank | 2703 Buford Road Richmond, VA 23235 | Full Service B&M | $37,276 |
| Essex Bank | 3062 Solomons Island Rd Edgewater, MD 21037 | Full Service B&M | $11,862 |
| Essex Bank | 3638 Old Forest Road Lynchburg, VA 24501 | Full Service B&M | $13,339 |
| Essex Bank | 3740 Winterfield Road Midlothian, VA 23113 | Full Service B&M | $55,506 |
| Essex Bank | 4935 Richmond Tappahannock Hwy Manquin, VA 23106 | Full Service B&M | $59,576 |
| Essex Bank | 6143 High Bridge Road Bowie, MD 20720 | Full Service B&M | $57,917 |
| Essex Bank | 6315 Mechanicsville Turnpike Mechanicsville, VA 23111 | Full Service B&M | $80,555 |
| Essex Bank | 654 Northumberland Highway Callao, VA 22435 | Full Service B&M | $36,261 |
| Essex Bank | 9951 Brook Road Glenn Allen, VA 23060 | Full Service B&M | $82,451 |
| Essex Bank | 9954 Mayland Drive, Suite 2100 Richmond, VA 23233 | Full Service B&M | $63,502 |
For 2021, Essex Bank had 24 branches.