Magnolia State Bank Mortgage Rates, Fees & Info
Bay Springs, MSLEI: 5493007YWPQ2TU6YIG45
Tax ID: 64-0565094
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Mortgage Data
Review & Overview
Magnolia State Bank is a smaller bank specializing in Home Purchase and Refi loans. Magnolia State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Hattiesburg, Laurel, Daphne, Gulfport, and Lafayette among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)Magnolia State Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
223Origination Dollar Volume (All Markets)
$40,455,000Top 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 |
|---|---|---|---|---|---|
| HATTIESBURG, MS (FHA|USDA|VA) | 121 | $26,955,000 | $222,769 | $0 | 0.00% |
| Laurel, MS (FHA|USDA|VA) | 58 | $5,600,000 | $96,552 | $0 | 0.00% |
| Outside of Metro Areas | 21 | $2,155,000 | $102,619 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 5 | $2,065,000 | $413,000 | $0 | 0.00% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 6 | $1,260,000 | $210,000 | $0 | 0.00% |
| LAFAYETTE, LA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| Starkville, MS (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| Oxford, MS (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Meridian, MS (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 0.00% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| JACKSON, MS (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 0.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (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 | 223 | $40,455,000 | $181,413 | $0 | 0.00% |
For 2022, Magnolia State Bank's most frequently originated type of loan was Conventional, with 223 originations.
Loan Reason
For 2022, Magnolia State Bank's most frequently cited loan purpose was Home Purchase, with 109 originations. The 2nd most popular reason was Refi, with 83 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 223 | $40,455,000 | $181,413 | $0 | 0.00% |
For 2022, Magnolia State Bank's most frequently cited loan duration was Other, with 223 originations.
Loan Sizing
2022 saw Magnolia State Bank place emphasis on $100,000 or less loans with 106 originations, totaling $5,690,000 in origination value.
Applicant Income
Magnolia State Bank lent most frequently to those with incomes in the $50k-75k range, with 32 originations. The second most popular income band? $100k-150k, with 27 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 223 | $40,455,000 | $181,413 | $0 | 0.00% |
Magnolia State Bank lent most frequently to those with DTI ratios of Exempt%, with 223 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.18%
Magnolia State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination91.03%
Magnolia State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 223 | $40,455,000 | $181,413 |