Sumner Bank & Trust Mortgage Rates, Fees & Info
Gallatin, TNLEI: 549300OCVGP1PT322B56
Tax ID: 20-1007064
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Mortgage Data
Review & Overview
Sumner Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. Sumner Bank & Trust has a high proportion of conventional loans. Their top two markets are Nashville and Clarksville .Sumner Bank & Trust 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. Sumner Bank & Trust is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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Originations
54Origination Dollar Volume (All Markets)
$9,590,000Top 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 |
|---|---|---|---|---|---|
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 49 | $8,725,000 | $178,061 | $2,281 | 5.62% |
| Outside of Metro Areas | 2 | $480,000 | $240,000 | $0 | 5.63% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $0 | 6.17% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 54 | $9,590,000 | $177,593 | $2,281 | 5.65% |
For 2019, Sumner Bank & Trust's most frequently originated type of loan was Conventional, with 54 originations.
Loan Reason
For 2019, Sumner Bank & Trust's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Refi, with 14 originations.
Loan Duration/Length
For 2019, Sumner Bank & Trust's most frequently cited loan duration was 5 Year, with 19 originations. The 2nd most popular length was 10 Year, with 12 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 12 | $1,860,000 | $155,000 |
| $1k-2k | 3 | $525,000 | $175,000 |
| $2k-3k | 3 | $795,000 | $265,000 |
| $5k+ | 1 | $1,005,000 | $1,005,000 |
Sumner Bank & Trust's average total fees were $212, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 12 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 34 | $6,600,000 | $194,118 |
| 6-7% | 12 | $1,460,000 | $121,667 |
| 4-5% | 7 | $1,225,000 | $175,000 |
| 3-4% | 1 | $305,000 | $305,000 |
During 2019, Sumner Bank & Trust's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was 5-6%, with 34 originations.
Loan Sizing
2019 saw Sumner Bank & Trust place emphasis on $100k-200k loans with 20 originations, totaling $2,920,000 in origination value.
Applicant Income
Sumner Bank & Trust lent most frequently to those with incomes in the $250k+ range, with 12 originations. The second most popular income band? $100k-150k, with 9 originations.
Applicant Debt to Income Ratio
Sumner Bank & Trust lent most frequently to those with DTI ratios of 30-36%, with 6 originations. The next most common DTI ratio? <20%, with 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.92%
Sumner Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination96.30%
Sumner Bank & Trust has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 54 | $9,590,000 | $177,593 |