Provident State Bank Mortgage Rates, Fees & Info

Preston, MD

LEI: 549300IIUZTJI9AHIA30

Tax ID: 52-0451670

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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: Salisbury, Baltimore, Cambridge, Easton, and Dover among others. We have data for 10 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.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


Originations

225

Origination Dollar Volume (All Markets)

$83,375,000

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
SALISBURY, MD-DE (FHA|USDA|VA) 73 $26,125,000 $357,877 $0 0.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 51 $24,065,000 $471,863 $0 0.00%
Outside of Metro Areas 37 $11,365,000 $307,162 $0 0.00%
Cambridge, MD (FHA|USDA|VA) 29 $8,955,000 $308,793 $0 0.00%
Easton, MD (FHA|USDA|VA) 21 $7,655,000 $364,524 $0 0.00%
DOVER, DE (FHA|USDA|VA) 6 $1,860,000 $310,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $1,620,000 $405,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $1,120,000 $560,000 $0 0.00%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
Somerset, PA (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
Provident State Bank's top markets include Salisbury, Baltimore, Cambridge, Easton, and Dover among others.

Their top states include:
  • Maryland (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 223 $82,615,000 $370,471 $0 0.00%
    FHA 1 $155,000 $155,000 $0 0.00%
    VA 1 $605,000 $605,000 $0 0.00%

    For 2021, Provident State Bank's most frequently originated type of loan was Conventional, with 223 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 112 $45,520,000 $406,429 $0 0.00%
    Refi 81 $28,155,000 $347,593 $0 0.00%
    Cash Out Refi 26 $8,650,000 $332,692 $0 0.00%
    Other 4 $770,000 $192,500 $0 0.00%
    Home Improvement 2 $280,000 $140,000 $0 0.00%

    For 2021, Provident State Bank's most frequently cited loan purpose was Home Purchase, with 112 originations. The 2nd most popular reason was Refi, with 81 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 225 $83,375,000 $370,556 $0 0.00%

    For 2021, Provident State Bank's most frequently cited loan duration was Other, with 225 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 97 $29,105,000 $300,052 $0 0.00%
    $400k-600k 55 $27,005,000 $491,000 $0 0.00%
    $100k-200k 39 $5,885,000 $150,897 $0 0.00%
    $600k-1MM 20 $14,670,000 $733,500 $0 0.00%
    $100,000 or less 9 $715,000 $79,444 $0 0.00%
    $1MM+ 5 $5,995,000 $1,199,000 $0 0.00%

    2021 saw Provident State Bank place emphasis on $200k-400k loans with 97 originations, totaling $29,105,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 56 $20,710,000 $369,821 $0 0.00%
    $150k-250k 47 $22,785,000 $484,787 $0 0.00%
    $75k-100k 31 $9,395,000 $303,065 $0 0.00%
    $50k-75k 29 $6,585,000 $227,069 $0 0.00%
    $250k+ 27 $14,685,000 $543,889 $0 0.00%
    $50k or less 16 $2,750,000 $171,875 $0 0.00%

    Provident State Bank lent most frequently to those with incomes in the $100k-150k range, with 56 originations. The second most popular income band? $150k-250k, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 225 $83,375,000 $370,556 $0 0.00%

    Provident State Bank lent most frequently to those with DTI ratios of Exempt%, with 225 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 190 $72,100,000 $379,474 $0 0.00%
    Not applicable 18 $6,370,000 $353,889 $0 0.00%
    Black 10 $2,620,000 $262,000 $0 0.00%
    Not provided 4 $1,600,000 $400,000 $0 0.00%
    Asian 2 $590,000 $295,000 $0 0.00%
    Native Hawaiian or Islander 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.36%

    Provident State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.78%

    Provident State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 225 $83,375,000 $370,556

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    225 $83,375,000 $370,556

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 6 46.2%
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Closing on a mortgage 1 7.7%
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Trouble during payment process 6 46.2%