Sound Bank Mortgage Rates, Fees & Info
Raleigh, NCLEI: 549300D3SGJ9UCUF2779
Tax ID: 31-1763452
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Sound Bank is a smaller bank specializing in Home Purchase loans. Sound Bank has a high proportion of conventional loans. Their top markets by origination volume include: Raleigh, Fayetteville, Jacksonville, Morehead City, and Greenville among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)Sound 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
57Origination Dollar Volume (All Markets)
$30,775,000Top 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 |
|---|---|---|---|---|---|
| RALEIGH-CARY, NC (FHA|USDA|VA) | 7 | $8,425,000 | $1,203,571 | $0 | 0.00% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 7 | $3,585,000 | $512,143 | $0 | 0.00% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 4 | $2,960,000 | $740,000 | $0 | 0.00% |
| Morehead City, NC (FHA|USDA|VA) | 5 | $2,215,000 | $443,000 | $0 | 0.00% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 8 | $1,700,000 | $212,500 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $1,575,000 | $1,575,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $1,555,000 | $518,333 | $0 | 0.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 4 | $1,520,000 | $380,000 | $0 | 0.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $1,105,000 | $1,105,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $0 | 0.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $0 | 0.00% |
| Mount Airy, NC (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 0.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $0 | 0.00% |
| GREENVILLE, NC (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $0 | 0.00% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $0 | 0.00% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| Seneca, SC (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 0.00% |
| Toccoa, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 57 | $30,775,000 | $539,912 | $0 | 0.00% |
For 2024, Sound Bank's most frequently originated type of loan was Conventional, with 57 originations.
Loan Reason
For 2024, Sound Bank's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 57 | $30,775,000 | $539,912 | $0 | 0.00% |
For 2024, Sound Bank's most frequently cited loan duration was Other, with 57 originations.
Loan Sizing
2024 saw Sound Bank place emphasis on $100,000 or less loans with 14 originations, totaling $930,000 in origination value.
Applicant Income
Sound Bank lent most frequently to those with incomes in the $250k+ range, with 10 originations. The second most popular income band? $150k-250k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 57 | $30,775,000 | $539,912 | $0 | 0.00% |
Sound Bank lent most frequently to those with DTI ratios of Exempt%, with 57 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.00%
Sound Bank has an average approval rate.
Pick Rate
Approvals leading to origination73.68%
Sound Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 57 | $30,775,000 | $539,912 |