Resource Bank Mortgage Rates, Fees & Info

Covington, LA

LEI: 549300OMHGOGEWTCI138

Tax ID: 72-1410047

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Resource Bank is a smaller bank specializing in Home Purchase and Refi loans. Resource Bank has a high proportion of conventional loans. Their top markets by origination volume include: New Orleans, Baton Rouge, Picayune, Gulfport, and Hammond among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Resource 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.

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    Originations

    165

    Origination Dollar Volume (All Markets)

    $54,815,000

    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
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 135 $46,065,000 $341,222 $0 0.00%
    BATON ROUGE, LA (FHA|USDA|VA) 12 $5,470,000 $455,833 $0 0.00%
    Picayune, MS (FHA|USDA|VA) 3 $895,000 $298,333 $0 0.00%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 2 $820,000 $410,000 $0 0.00%
    HAMMOND, LA (FHA|USDA|VA) 6 $810,000 $135,000 $0 0.00%
    Bogalusa, LA (FHA|USDA|VA) 6 $600,000 $100,000 $0 0.00%
    Paragould, AR (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Resource Bank's top markets include New Orleans, Baton Rouge, Picayune, Gulfport, and Hammond among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 165 $54,815,000 $332,212 $0 0.00%

    For 2024, Resource Bank's most frequently originated type of loan was Conventional, with 165 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 86 $34,020,000 $395,581 $0 0.00%
    Refi 55 $14,515,000 $263,909 $0 0.00%
    Home Improvement 15 $3,215,000 $214,333 $0 0.00%
    Other 9 $3,065,000 $340,556 $0 0.00%

    For 2024, Resource Bank's most frequently cited loan purpose was Home Purchase, with 86 originations. The 2nd most popular reason was Refi, with 55 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 165 $54,815,000 $332,212 $0 0.00%

    For 2024, Resource Bank's most frequently cited loan duration was Other, with 165 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 56 $16,340,000 $291,786 $0 0.00%
    $100k-200k 41 $5,765,000 $140,610 $0 0.00%
    $100,000 or less 31 $1,875,000 $60,484 $0 0.00%
    $400k-600k 15 $7,015,000 $467,667 $0 0.00%
    $600k-1MM 12 $8,790,000 $732,500 $0 0.00%
    $1MM+ 10 $15,030,000 $1,503,000 $0 0.00%

    2024 saw Resource Bank place emphasis on $200k-400k loans with 56 originations, totaling $16,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 30 $20,870,000 $695,667 $0 0.00%
    $150k-250k 19 $5,905,000 $310,789 $0 0.00%
    $100k-150k 12 $1,630,000 $135,833 $0 0.00%
    $50k-75k 9 $955,000 $106,111 $0 0.00%
    $50k or less 7 $1,015,000 $145,000 $0 0.00%
    $75k-100k 3 $535,000 $178,333 $0 0.00%

    Resource Bank lent most frequently to those with incomes in the $250k+ range, with 30 originations. The second most popular income band? $150k-250k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 165 $54,815,000 $332,212 $0 0.00%

    Resource Bank lent most frequently to those with DTI ratios of Exempt%, with 165 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 74 $26,920,000 $363,784 $0 0.00%
    Not applicable 84 $23,610,000 $281,071 $0 0.00%
    Black 5 $3,905,000 $781,000 $0 0.00%
    Not provided 2 $380,000 $190,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.26%

    Resource Bank 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
    90.91%

    Resource Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 165 $54,815,000 $332,212

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    165 $54,815,000 $332,212