Metro Bank Mortgage Rates, Fees & Info
Pell City, ALLEI: 549300KI5WZF5PXKAF12
Tax ID: 62-1372975
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Metro Bank is a smaller bank specializing in Refi and Home Purchase loans. Metro Bank has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Gadsden, Talladega, Anniston, and Daphne among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Metro 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
234Origination Dollar Volume (All Markets)
$36,430,000Top 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 |
|---|---|---|---|---|---|
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 138 | $22,060,000 | $159,855 | $0 | 0.00% |
| GADSDEN, AL (FHA|USDA|VA) | 32 | $4,550,000 | $142,188 | $0 | 0.00% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 20 | $3,480,000 | $174,000 | $0 | 0.00% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 22 | $2,460,000 | $111,818 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 4 | $1,650,000 | $412,500 | $0 | 0.00% |
| Outside of Metro Areas | 11 | $1,175,000 | $106,818 | $0 | 0.00% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $0 | 0.00% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Fort Payne, AL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Jasper, AL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 234 | $36,430,000 | $155,684 | $0 | 0.00% |
For 2023, Metro Bank's most frequently originated type of loan was Conventional, with 234 originations.
Loan Reason
For 2023, Metro Bank's most frequently cited loan purpose was Refi, with 105 originations. The 2nd most popular reason was Home Purchase, with 86 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 234 | $36,430,000 | $155,684 | $0 | 0.00% |
For 2023, Metro Bank's most frequently cited loan duration was Other, with 234 originations.
Loan Sizing
2023 saw Metro Bank place emphasis on $100,000 or less loans with 113 originations, totaling $5,775,000 in origination value.
Applicant Income
Metro Bank lent most frequently to those with incomes in the $50k or less range, with 39 originations. The second most popular income band? $50k-75k, with 33 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 234 | $36,430,000 | $155,684 | $0 | 0.00% |
Metro Bank lent most frequently to those with DTI ratios of Exempt%, with 234 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.55%
Metro Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.46%
Metro Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 234 | $36,430,000 | $155,684 |