Provident State Bank Mortgage Rates, Fees & Info
Preston, MDLEI: 549300IIUZTJI9AHIA30
Tax ID: 52-0451670
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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 low ratio of USDA 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: Salisbury, Easton, Baltimore, Cambridge, and Dover among others. We have data for 11 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 an above average pick rate when compared to similar lenders.
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Originations
243Origination Dollar Volume (All Markets)
$77,035,000Top 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 |
|---|---|---|---|---|---|
| SALISBURY, MD-DE (FHA|USDA|VA) | 90 | $29,330,000 | $325,889 | $0 | 0.00% |
| Easton, MD (FHA|USDA|VA) | 44 | $14,030,000 | $318,864 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 34 | $13,970,000 | $410,882 | $0 | 0.00% |
| Outside of Metro Areas | 40 | $10,070,000 | $251,750 | $0 | 0.00% |
| Cambridge, MD (FHA|USDA|VA) | 25 | $6,365,000 | $254,600 | $0 | 0.00% |
| DOVER, DE (FHA|USDA|VA) | 4 | $1,120,000 | $280,000 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $0 | 0.00% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Product Mix
For 2020, Provident State Bank's most frequently originated type of loan was Conventional, with 235 originations. Their 2nd most popular type was VA, with 3 originations.
Loan Reason
For 2020, Provident State Bank's most frequently cited loan purpose was Home Purchase, with 118 originations. The 2nd most popular reason was Refi, with 87 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 243 | $77,035,000 | $317,016 | $0 | 0.00% |
For 2020, Provident State Bank's most frequently cited loan duration was Other, with 243 originations.
Loan Sizing
2020 saw Provident State Bank place emphasis on $200k-400k loans with 121 originations, totaling $36,045,000 in origination value.
Applicant Income
Provident State Bank lent most frequently to those with incomes in the $100k-150k range, with 77 originations. The second most popular income band? $150k-250k, with 43 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 243 | $77,035,000 | $317,016 | $0 | 0.00% |
Provident State Bank lent most frequently to those with DTI ratios of Exempt%, with 243 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.34%
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 origination90.95%
Provident State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 243 | $77,035,000 | $317,016 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 9 | 31.0% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Closing on a mortgage | 6 | 20.7% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Struggling to pay mortgage | 4 | 13.8% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Trouble during payment process | 9 | 31.0% |
| PROVIDENT FUNDING ASSOCIATES | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 3.4% |