Bank Of Ann Arbor Mortgage Rates, Fees & Info
Ann Arbor, MILEI: 549300PI8J8CV6B53I58
Tax ID: 38-3252110
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Bank Of Ann Arbor is a smaller bank specializing in Home Purchase loans. Bank Of Ann Arbor has a high proportion of conventional loans. Their top markets by origination volume include: Ann Arbor, Detroit, Charleston, Naples, and Monroe among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Of Ann Arbor 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
125Origination Dollar Volume (All Markets)
$56,365,000Top 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 |
|---|---|---|---|---|---|
| ANN ARBOR, MI (FHA|USDA|VA) | 60 | $29,950,000 | $499,167 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 35 | $14,365,000 | $410,429 | $0 | 0.00% |
| Outside of Metro Areas | 10 | $2,760,000 | $276,000 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $2,305,000 | $2,305,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $0 | 0.00% |
| MONROE, MI (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $0 | 0.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| FLINT, MI (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| Ludington, MI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Findlay, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Bank of Ann Arbor based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 125 | $56,365,000 | $450,920 | $0 | 0.00% |
For 2024, Bank Of Ann Arbor's most frequently originated type of loan was Conventional, with 125 originations.
Loan Reason
For 2024, Bank Of Ann Arbor's most frequently cited loan purpose was Home Purchase, with 105 originations. The 2nd most popular reason was Other, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 125 | $56,365,000 | $450,920 | $0 | 0.00% |
For 2024, Bank Of Ann Arbor's most frequently cited loan duration was Other, with 125 originations.
Loan Sizing
2024 saw Bank Of Ann Arbor place emphasis on $200k-400k loans with 56 originations, totaling $15,740,000 in origination value.
Applicant Income
Bank Of Ann Arbor lent most frequently to those with incomes in the $150k-250k range, with 32 originations. The second most popular income band? $250k+, with 30 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 125 | $56,365,000 | $450,920 | $0 | 0.00% |
Bank Of Ann Arbor lent most frequently to those with DTI ratios of Exempt%, with 125 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.01%
Bank Of Ann Arbor has an average approval rate.
Pick Rate
Approvals leading to origination76.80%
Bank Of Ann Arbor has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 125 | $56,365,000 | $450,920 |