Edison National Bank Mortgage Rates, Fees & Info

Fort Myers, FL

LEI: 549300POAFZ9PGU16760

Tax ID: 65-0765849

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Mortgage Data

Review & Overview

Edison National Bank is a smaller bank specializing in Home Purchase loans. Edison National Bank has a high proportion of conventional loans. Their top two markets are Cape Coral and Naples .

Edison National Bank has an average approval rate when compared to the average across all lenders.

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Originations

8

Origination Dollar Volume (All Markets)

$5,010,000

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
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 7 $3,855,000 $550,714 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $1,155,000 $1,155,000 $0 0.00%
Edison National Bank's top markets include Cape Coral and Naples among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 8 $5,010,000 $626,250 $0 0.00%

    For 2023, Edison National Bank's most frequently originated type of loan was Conventional, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 8 $5,010,000 $626,250 $0 0.00%

    For 2023, Edison National Bank's most frequently cited loan purpose was Home Purchase, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 8 $5,010,000 $626,250 $0 0.00%

    For 2023, Edison National Bank's most frequently cited loan duration was Other, with 8 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 3 $2,085,000 $695,000 $0 0.00%
    $1MM+ 2 $2,180,000 $1,090,000 $0 0.00%
    $100,000 or less 1 $65,000 $65,000 $0 0.00%
    $200k-400k 1 $225,000 $225,000 $0 0.00%
    $400k-600k 1 $455,000 $455,000 $0 0.00%

    2023 saw Edison National Bank place emphasis on $600k-1MM loans with 3 originations, totaling $2,085,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 6 $4,490,000 $748,333 $0 0.00%
    $150k-250k 1 $455,000 $455,000 $0 0.00%

    Edison National Bank lent most frequently to those with incomes in the $250k+ range, with 6 originations. The second most popular income band? $150k-250k, with 1 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 8 $5,010,000 $626,250 $0 0.00%

    Edison National Bank lent most frequently to those with DTI ratios of Exempt%, with 8 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 6 $3,800,000 $633,333 $0 0.00%
    Not provided 1 $755,000 $755,000 $0 0.00%
    Native Hawaiian or Islander 1 $455,000 $455,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    72.73%

    Edison National Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 8 $5,010,000 $626,250

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    8 $5,010,000 $626,250