Provident State Bank Mortgage Rates, Fees & Info
Preston, MDLEI: 549300IIUZTJI9AHIA30
Tax ID: 52-0451670
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Mortgage Data
Review & Overview
Provident State Bank is a smaller bank specializing in Home Purchase and Refi loans. Provident State Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Baltimore, Salisbury, Easton, Cambridge, and Dover among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Provident State 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
114Origination Dollar Volume (All Markets)
$53,790,000Top 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 |
|---|---|---|---|---|---|
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 25 | $15,835,000 | $633,400 | $0 | 0.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 28 | $12,760,000 | $455,714 | $0 | 0.00% |
| Easton, MD (FHA|USDA|VA) | 26 | $11,500,000 | $442,308 | $0 | 0.00% |
| Outside of Metro Areas | 20 | $8,200,000 | $410,000 | $0 | 0.00% |
| Cambridge, MD (FHA|USDA|VA) | 7 | $1,965,000 | $280,714 | $0 | 0.00% |
| DOVER, DE (FHA|USDA|VA) | 4 | $1,340,000 | $335,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $1,150,000 | $575,000 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $1,040,000 | $520,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 112 | $53,160,000 | $474,643 | $0 | 0.00% |
| FHA | 2 | $630,000 | $315,000 | $0 | 0.00% |
For 2022, Provident State Bank's most frequently originated type of loan was Conventional, with 112 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
For 2022, Provident State Bank's most frequently cited loan purpose was Home Purchase, with 73 originations. The 2nd most popular reason was Refi, with 27 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 114 | $53,790,000 | $471,842 | $0 | 0.00% |
For 2022, Provident State Bank's most frequently cited loan duration was Other, with 114 originations.
Loan Sizing
2022 saw Provident State Bank place emphasis on $200k-400k loans with 38 originations, totaling $11,070,000 in origination value.
Applicant Income
Provident State Bank lent most frequently to those with incomes in the $150k-250k range, with 36 originations. The second most popular income band? $100k-150k, with 22 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 114 | $53,790,000 | $471,842 | $0 | 0.00% |
Provident State Bank lent most frequently to those with DTI ratios of Exempt%, with 114 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.48%
Provident State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination83.33%
Provident State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 114 | $53,790,000 | $471,842 |