Murphy Bank Mortgage Rates, Fees & Info
Fresno, CALEI: 549300IUGPU6Q7414X38
Tax ID: 77-0005559
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Mortgage Data
Review & Overview
Murphy Bank is a smaller bank specializing in Home Purchase loans. Murphy Bank has a high proportion of conventional loans. Their top markets by origination volume include: San Luis Obispo, Los Angeles, Riverside, Fresno, and Santa Maria among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Murphy Bank 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.
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Originations
54Origination Dollar Volume (All Markets)
$8,890,000Top 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 |
|---|---|---|---|---|---|
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 30 | $5,620,000 | $187,333 | $0 | 8.90% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 5 | $1,405,000 | $281,000 | $0 | 8.84% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $410,000 | $102,500 | $0 | 8.55% |
| FRESNO, CA (FHA|USDA|VA) | 4 | $310,000 | $77,500 | $0 | 8.83% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $0 | 9.07% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $0 | 8.60% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 8.40% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 9.10% |
| Outside of Metro Areas | 1 | $125,000 | $125,000 | $0 | 8.95% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 8.95% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 54 | $8,890,000 | $164,630 | $0 | 8.84% |
For 2023, Murphy Bank's most frequently originated type of loan was Conventional, with 54 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 48 | $8,170,000 | $170,208 | $0 | 8.86% |
| Home Improvement | 3 | $405,000 | $135,000 | $0 | 8.78% |
| Other | 3 | $315,000 | $105,000 | $0 | 8.72% |
For 2023, Murphy Bank's most frequently cited loan purpose was Home Purchase, with 48 originations. The 2nd most popular reason was Home Improvement, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 54 | $8,890,000 | $164,630 | $0 | 8.84% |
For 2023, Murphy Bank's most frequently cited loan duration was Other, with 54 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 51 | $8,435,000 | $165,392 |
| 7-8% | 3 | $455,000 | $151,667 |
During 2023, Murphy Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 51 originations.
Loan Sizing
2023 saw Murphy Bank place emphasis on $100,000 or less loans with 22 originations, totaling $1,530,000 in origination value.
Applicant Income
Murphy Bank lent most frequently to those with incomes in the $150k-250k range, with 20 originations. The second most popular income band? $50k-75k, with 13 originations.
Applicant Debt to Income Ratio
Murphy Bank lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 13 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications72.58%
Murphy Bank has a below average approval rate.
Pick Rate
Approvals leading to origination33.33%
Murphy Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 54 | $8,890,000 | $164,630 |