Millennium Bank Mortgage Rates, Fees & Info

Ooltewah, TN

LEI: 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

70

Origination Dollar Volume (All Markets)

$24,020,000

Top 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%
Millennium Bank's top markets include Chattanooga, Cleveland, Lake City, Ocala, and Gainesville among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 45 $16,325,000 $362,778 $0 0.00%
    Refi 19 $6,475,000 $340,789 $0 0.00%
    Home Improvement 4 $760,000 $190,000 $0 0.00%
    Other 2 $460,000 $230,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 32 $8,530,000 $266,563 $0 0.00%
    $100k-200k 20 $3,030,000 $151,500 $0 0.00%
    $400k-600k 9 $4,435,000 $492,778 $0 0.00%
    $600k-1MM 4 $2,590,000 $647,500 $0 0.00%
    $1MM+ 3 $5,285,000 $1,761,667 $0 0.00%
    $100,000 or less 2 $150,000 $75,000 $0 0.00%

    2023 saw Millennium Bank place emphasis on $200k-400k loans with 32 originations, totaling $8,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 16 $8,930,000 $558,125 $0 0.00%
    $100k-150k 13 $3,325,000 $255,769 $0 0.00%
    $150k-250k 6 $2,060,000 $343,333 $0 0.00%
    $50k-75k 5 $655,000 $131,000 $0 0.00%
    $50k or less 4 $600,000 $150,000 $0 0.00%
    $75k-100k 2 $450,000 $225,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 42 $15,320,000 $364,762 $0 0.00%
    Not applicable 23 $7,525,000 $327,174 $0 0.00%
    Not provided 3 $605,000 $201,667 $0 0.00%
    Black 2 $570,000 $285,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.38%

    Millennium Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.57%

    Millennium Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 70 $24,020,000 $343,143

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    70 $24,020,000 $343,143