Main Street Bank Corp. Mortgage Rates, Fees & Info

Wheeling, WV

LEI: 549300N4D45V7JFCUS34

Tax ID: 55-0780787

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Mortgage Data

Review & Overview

Main Street Bank Corp. is a smaller bank specializing in Home Purchase loans. Main Street Bank Corp. has a high proportion of conventional loans. Their top two markets are Wheeling and Weirton .

Main Street Bank Corp. 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

236

Origination Dollar Volume (All Markets)

$40,580,000

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
WHEELING, WV-OH (FHA|USDA|VA) 161 $20,975,000 $130,280 $0 0.00%
Outside of Metro Areas 32 $12,220,000 $381,875 $0 0.00%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 43 $7,385,000 $171,744 $0 0.00%
Main Street Bank Corp.'s top markets include Wheeling and Weirton among others.

Their top states include:
  • West Virginia (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 236 $40,580,000 $171,949 $0 0.00%

    For 2023, Main Street Bank Corp.'s most frequently originated type of loan was Conventional, with 236 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 154 $29,060,000 $188,701 $0 0.00%
    Cash Out Refi 42 $5,730,000 $136,429 $0 0.00%
    Home Improvement 22 $2,570,000 $116,818 $0 0.00%
    Other 15 $1,845,000 $123,000 $0 0.00%
    Refi 3 $1,375,000 $458,333 $0 0.00%

    For 2023, Main Street Bank Corp.'s most frequently cited loan purpose was Home Purchase, with 154 originations. The 2nd most popular reason was Cash Out Refi, with 42 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 236 $40,580,000 $171,949 $0 0.00%

    For 2023, Main Street Bank Corp.'s most frequently cited loan duration was Other, with 236 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 102 $6,270,000 $61,471 $0 0.00%
    $100k-200k 74 $10,030,000 $135,541 $0 0.00%
    $200k-400k 46 $12,730,000 $276,739 $0 0.00%
    $400k-600k 7 $3,205,000 $457,857 $0 0.00%
    $1MM+ 5 $6,855,000 $1,371,000 $0 0.00%
    $600k-1MM 2 $1,490,000 $745,000 $0 0.00%

    2023 saw Main Street Bank Corp. place emphasis on $100,000 or less loans with 102 originations, totaling $6,270,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 37 $5,925,000 $160,135 $0 0.00%
    $150k-250k 33 $5,915,000 $179,242 $0 0.00%
    $75k-100k 24 $3,160,000 $131,667 $0 0.00%
    $50k-75k 23 $2,875,000 $125,000 $0 0.00%
    $50k or less 22 $1,910,000 $86,818 $0 0.00%
    $250k+ 17 $5,305,000 $312,059 $0 0.00%

    Main Street Bank Corp. lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $150k-250k, with 33 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 236 $40,580,000 $171,949 $0 0.00%

    Main Street Bank Corp. lent most frequently to those with DTI ratios of Exempt%, with 236 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 156 $26,030,000 $166,859 $0 0.00%
    Not applicable 75 $14,105,000 $188,067 $0 0.00%
    Not provided 3 $175,000 $58,333 $0 0.00%
    American Indian 1 $145,000 $145,000 $0 0.00%
    Black 1 $125,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.70%

    Main Street Bank Corp. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    87.29%

    Main Street Bank Corp. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 236 $40,580,000 $171,949

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    236 $40,580,000 $171,949