Marine Bank & Trust Company Mortgage Rates, Fees & Info
Vero Beach, FLLEI: 549300HJSQXR32ZGFP55
Tax ID: 65-0644585
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Mortgage Data
Review & Overview
Marine Bank & Trust Company is a smaller bank specializing in Home Purchase and Refi loans. Marine Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Sebastian, Port St. Lucie, and Palm Bay among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Marine Bank & Trust Company 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. They typically have relatively high rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 12/2/24 |
| 30 Year Conventional Refi | 6.27% | 12/2/24 |
| 30 Year Cash-out Refi | 6.27% | 12/2/24 |
| 15 Year Conventional Purchase | 5.68% | 12/2/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Marine Bank & Trust Company Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
64Origination Dollar Volume (All Markets)
$36,220,000Relative Rate
Marine Bank & Trust Company's average 30 year fixed mortgage rate was
6.85%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.37%.
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 |
|---|---|---|---|---|---|
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 35 | $16,655,000 | $475,857 | $0 | 7.03% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 16 | $15,640,000 | $977,500 | $0 | 6.81% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 13 | $3,925,000 | $301,923 | $0 | 7.51% |
Similar Lenders
We use machine learning to identify the top lenders compared against Marine Bank & Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 64 | $36,220,000 | $565,938 | $0 | 7.07% |
For 2023, Marine Bank & Trust Company's most frequently originated type of loan was Conventional, with 64 originations.
Loan Reason
For 2023, Marine Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 40 originations. The 2nd most popular reason was Refi, with 12 originations.
Loan Duration/Length
For 2023, Marine Bank & Trust Company's most frequently cited loan duration was 30 Year, with 34 originations. The 2nd most popular length was 30+ year, with 18 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 29 | $11,835,000 | $408,103 |
| 6-7% | 25 | $20,705,000 | $828,200 |
| 5-6% | 6 | $2,280,000 | $380,000 |
| Over 8% | 3 | $685,000 | $228,333 |
During 2023, Marine Bank & Trust Company's average interest rate for loans was 6.85%, while their most frequently originated rate bucket for loans was 7-8%, with 29 originations.
Loan Sizing
2023 saw Marine Bank & Trust Company place emphasis on $200k-400k loans with 27 originations, totaling $7,785,000 in origination value.
Applicant Income
Marine Bank & Trust Company lent most frequently to those with incomes in the $150k-250k range, with 18 originations. The second most popular income band? $250k+, with 17 originations.
Applicant Debt to Income Ratio
Marine Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 14 originations. The next most common DTI ratio? 30-36%, with 12 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.86%
Marine Bank & Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination71.88%
Marine Bank & Trust Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 64 | $36,220,000 | $565,938 |