Sonabank Mortgage Rates, Fees & Info
Tappahannock, VALEI: 549300GCUYVW860UOZ07
Tax ID: 20-2453966
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Sonabank is a smaller bank specializing in Home Improvement, Refi, and Other loans. Sonabank has a high proportion of conventional loans. Their top markets by origination volume include: Richmond, Virginia Beach, Washington, Baltimore, and Boone among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Sonabank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.
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Originations
177Origination Dollar Volume (All Markets)
$23,375,000Top 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 |
|---|---|---|---|---|---|
| RICHMOND, VA (FHA|USDA|VA) | 62 | $8,470,000 | $136,613 | $0 | 0.00% |
| Outside of Metro Areas | 77 | $7,865,000 | $102,143 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 27 | $4,725,000 | $175,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 8 | $1,990,000 | $248,750 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Boone, NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 177 | $23,375,000 | $132,062 | $0 | 0.00% |
For 2023, Sonabank's most frequently originated type of loan was Conventional, with 177 originations.
Loan Reason
For 2023, Sonabank's most frequently cited loan purpose was Home Improvement, with 68 originations. The 2nd most popular reason was Refi, with 52 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 177 | $23,375,000 | $132,062 | $0 | 0.00% |
For 2023, Sonabank's most frequently cited loan duration was Other, with 177 originations.
Loan Sizing
2023 saw Sonabank place emphasis on $100,000 or less loans with 81 originations, totaling $4,225,000 in origination value.
Applicant Income
Sonabank lent most frequently to those with incomes in the $50k-75k range, with 44 originations. The second most popular income band? $100k-150k, with 40 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 177 | $23,375,000 | $132,062 | $0 | 0.00% |
Sonabank lent most frequently to those with DTI ratios of Exempt%, with 177 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.12%
Sonabank has a below average approval rate.
Pick Rate
Approvals leading to origination94.35%
Sonabank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 177 | $23,375,000 | $132,062 |