Wray State Bank Mortgage Rates, Fees & Info

Wray, CO

LEI: 549300PNITGJVDJVZ876

Tax ID: 84-0724893

Latest/2023 | 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

    Wray State Bank is a smaller bank specializing in Home Purchase and Refi loans. Wray State Bank has a high proportion of conventional loans. Their top (well, only) market is Greeley.

    Wray State 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.

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    Originations

    45

    Origination Dollar Volume (All Markets)

    $4,265,000

    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
    Outside of Metro Areas 36 $2,850,000 $79,167 $0 0.00%
    GREELEY, CO (FHA|USDA|VA) 9 $1,415,000 $157,222 $0 0.00%
    Wray State Bank's top markets include and Greeley among others.

    Their top states include:
  • (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 45 $4,265,000 $94,778 $0 0.00%

    For 2019, Wray State Bank's most frequently originated type of loan was Conventional, with 45 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 29 $2,555,000 $88,103 $0 0.00%
    Refi 11 $1,575,000 $143,182 $0 0.00%
    Home Improvement 3 $65,000 $21,667 $0 0.00%
    Other 2 $70,000 $35,000 $0 0.00%

    For 2019, Wray State Bank's most frequently cited loan purpose was Home Purchase, with 29 originations. The 2nd most popular reason was Refi, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 45 $4,265,000 $94,778 $0 0.00%

    For 2019, Wray State Bank's most frequently cited loan duration was Other, with 45 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 27 $1,225,000 $45,370 $0 0.00%
    $100k-200k 12 $1,560,000 $130,000 $0 0.00%
    $200k-400k 6 $1,480,000 $246,667 $0 0.00%

    2019 saw Wray State Bank place emphasis on $100,000 or less loans with 27 originations, totaling $1,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 17 $1,075,000 $63,235 $0 0.00%
    $50k-75k 6 $350,000 $58,333 $0 0.00%
    $100k-150k 4 $380,000 $95,000 $0 0.00%
    $150k-250k 3 $355,000 $118,333 $0 0.00%
    $75k-100k 3 $195,000 $65,000 $0 0.00%
    $250k+ 1 $135,000 $135,000 $0 0.00%

    Wray State Bank lent most frequently to those with incomes in the $50k or less range, with 17 originations. The second most popular income band? $50k-75k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 45 $4,265,000 $94,778 $0 0.00%

    Wray State Bank lent most frequently to those with DTI ratios of Exempt%, with 45 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 37 $2,675,000 $72,297 $0 0.00%
    Not applicable 7 $1,555,000 $222,143 $0 0.00%
    Not provided 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Wray State 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
    91.11%

    Wray State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 45 $4,265,000 $94,778

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $175,000 $175,000
    Single Family (1-4 Units):Manufactured 8 $390,000 $48,750
    Single Family (1-4 Units):Site-Built 36 $3,700,000 $102,778