Progressive Bank Mortgage Rates, Fees & Info
Monroe, LALEI: 54930074GUKXKBKNQI12
Tax ID: 72-0768210
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Progressive Bank is a smaller bank specializing in Home Purchase and Refi loans. Progressive Bank has a high proportion of conventional loans. Their top markets by origination volume include: Monroe, Shreveport, Baton Rouge, Natchez, and New Orleans among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Progressive 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
126Origination Dollar Volume (All Markets)
$60,560,000Top 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 |
|---|---|---|---|---|---|
| MONROE, LA (FHA|USDA|VA) | 50 | $22,730,000 | $454,600 | $0 | 0.00% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 47 | $21,845,000 | $464,787 | $0 | 0.00% |
| BATON ROUGE, LA (FHA|USDA|VA) | 3 | $6,615,000 | $2,205,000 | $0 | 0.00% |
| Outside of Metro Areas | 15 | $4,325,000 | $288,333 | $0 | 0.00% |
| Natchez, MS-LA (FHA|USDA|VA) | 2 | $1,290,000 | $645,000 | $0 | 0.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 2 | $1,280,000 | $640,000 | $0 | 0.00% |
| ALEXANDRIA, LA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| LAFAYETTE, LA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| TYLER, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Ruston, LA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 126 | $60,560,000 | $480,635 | $0 | 0.00% |
For 2022, Progressive Bank's most frequently originated type of loan was Conventional, with 126 originations.
Loan Reason
For 2022, Progressive Bank's most frequently cited loan purpose was Home Purchase, with 72 originations. The 2nd most popular reason was Refi, with 47 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 126 | $60,560,000 | $480,635 | $0 | 0.00% |
For 2022, Progressive Bank's most frequently cited loan duration was Other, with 126 originations.
Loan Sizing
2022 saw Progressive Bank place emphasis on $200k-400k loans with 35 originations, totaling $10,545,000 in origination value.
Applicant Income
Progressive Bank lent most frequently to those with incomes in the $250k+ range, with 48 originations. The second most popular income band? $150k-250k, with 18 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 126 | $60,560,000 | $480,635 | $0 | 0.00% |
Progressive Bank lent most frequently to those with DTI ratios of Exempt%, with 126 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.29%
Progressive Bank has an average approval rate.
Pick Rate
Approvals leading to origination57.14%
Progressive Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 126 | $60,560,000 | $480,635 |