The Bank Of Jackson Mortgage Rates, Fees & Info
Jackson, TNLEI: 5493007JWVDRJB3BSH97
Tax ID: 62-1682903
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Mortgage Data
Review & Overview
The Bank Of Jackson is a smaller bank specializing in Home Purchase and Cash Out Refi loans. The Bank Of Jackson has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top (well, only) market is Jackson.The Bank Of Jackson 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
15Origination Dollar Volume (All Markets)
$2,315,000Top Markets
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| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| JACKSON, TN (FHA|USDA|VA) | 15 | $2,315,000 | $154,333 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against The Bank of Jackson based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 12 | $1,760,000 | $146,667 | $0 | 0.00% |
| FHA | 3 | $555,000 | $185,000 | $0 | 0.00% |
For 2023, The Bank Of Jackson's most frequently originated type of loan was Conventional, with 12 originations. Their 2nd most popular type was FHA, with 3 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 10 | $1,760,000 | $176,000 | $0 | 0.00% |
| Cash Out Refi | 4 | $490,000 | $122,500 | $0 | 0.00% |
| Other | 1 | $65,000 | $65,000 | $0 | 0.00% |
For 2023, The Bank Of Jackson's most frequently cited loan purpose was Home Purchase, with 10 originations. The 2nd most popular reason was Cash Out Refi, with 4 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 15 | $2,315,000 | $154,333 | $0 | 0.00% |
For 2023, The Bank Of Jackson's most frequently cited loan duration was Other, with 15 originations.
Loan Sizing
2023 saw The Bank Of Jackson place emphasis on $100,000 or less loans with 6 originations, totaling $360,000 in origination value.
Applicant Income
The Bank Of Jackson lent most frequently to those with incomes in the $50k or less range, with 5 originations. The second most popular income band? $100k-150k, with 4 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 15 | $2,315,000 | $154,333 | $0 | 0.00% |
The Bank Of Jackson lent most frequently to those with DTI ratios of Exempt%, with 15 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 12 | $2,060,000 | $171,667 | $0 | 0.00% |
| Black | 2 | $180,000 | $90,000 | $0 | 0.00% |
| Not applicable | 1 | $75,000 | $75,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications78.26%
The Bank Of Jackson has a below average approval rate.
Pick Rate
Approvals leading to origination80.00%
The Bank Of Jackson has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 15 | $2,315,000 | $154,333 |