Millennium Bank Mortgage Rates, Fees & Info
Ooltewah, TNLEI: 549300FOHR7SBPQ7WJ92
Tax ID: 62-1775888
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Mortgage Data
Review & Overview
Millennium Bank is a smaller bank specializing in Home Purchase and Refi loans. Millennium Bank has a high proportion of conventional loans. Their top markets by origination volume include: Chattanooga, Cleveland, Lake City, Ocala, and Gainesville among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Millennium Bank 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
70Origination Dollar Volume (All Markets)
$24,020,000Top 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 |
|---|---|---|---|---|---|
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 43 | $17,085,000 | $397,326 | $0 | 0.00% |
| CLEVELAND, TN (FHA|USDA|VA) | 8 | $2,620,000 | $327,500 | $0 | 0.00% |
| Lake City, FL (FHA|USDA|VA) | 6 | $1,260,000 | $210,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $745,000 | $248,333 | $0 | 0.00% |
| OCALA, FL (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $0 | 0.00% |
| GAINESVILLE, FL (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $0 | 0.00% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| DALTON, GA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 70 | $24,020,000 | $343,143 | $0 | 0.00% |
For 2023, Millennium Bank's most frequently originated type of loan was Conventional, with 70 originations.
Loan Reason
For 2023, Millennium Bank's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Refi, with 19 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 70 | $24,020,000 | $343,143 | $0 | 0.00% |
For 2023, Millennium Bank's most frequently cited loan duration was Other, with 70 originations.
Loan Sizing
2023 saw Millennium Bank place emphasis on $200k-400k loans with 32 originations, totaling $8,530,000 in origination value.
Applicant Income
Millennium Bank lent most frequently to those with incomes in the $250k+ range, with 16 originations. The second most popular income band? $100k-150k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 70 | $24,020,000 | $343,143 | $0 | 0.00% |
Millennium Bank lent most frequently to those with DTI ratios of Exempt%, with 70 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.38%
Millennium Bank has an average approval rate.
Pick Rate
Approvals leading to origination78.57%
Millennium Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 70 | $24,020,000 | $343,143 |