Edison National Bank Mortgage Rates, Fees & Info
Fort Myers, FLLEI: 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 markets by origination volume include: Cape Coral, Boston, Cullowhee, and Naples among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Edison National Bank 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
25Origination Dollar Volume (All Markets)
$18,695,000Top 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 |
|---|---|---|---|---|---|
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 21 | $17,025,000 | $810,714 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $990,000 | $495,000 | $0 | 0.00% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 25 | $18,695,000 | $747,800 | $0 | 0.00% |
For 2018, Edison National Bank's most frequently originated type of loan was Conventional, with 25 originations.
Loan Reason
For 2018, Edison National Bank's most frequently cited loan purpose was Home Purchase, with 18 originations. The 2nd most popular reason was Other, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 25 | $18,695,000 | $747,800 | $0 | 0.00% |
For 2018, Edison National Bank's most frequently cited loan duration was Other, with 25 originations.
Loan Sizing
2018 saw Edison National Bank place emphasis on $200k-400k loans with 8 originations, totaling $2,240,000 in origination value.
Applicant Income
Edison National Bank lent most frequently to those with incomes in the $250k+ range, with 13 originations. The second most popular income band? $100k-150k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 25 | $18,695,000 | $747,800 | $0 | 0.00% |
Edison National Bank lent most frequently to those with DTI ratios of Exempt%, with 25 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.88%
Edison National 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 origination88.00%
Edison National Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 25 | $18,695,000 | $747,800 |