Bank Of Oak Ridge Mortgage Rates, Fees & Info
Oak Ridge, NCLEI: 549300QJN5U13Y9HAW42
Tax ID: 56-2149229
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Bank Of Oak Ridge is a smaller bank specializing in Home Purchase loans. Bank Of Oak Ridge has a high proportion of conventional loans. Their top markets by origination volume include: Greensboro, Winston, Myrtle Beach, Durham, and Charlotte among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Of Oak Ridge has an above average approval rate when compared to the average across all lenders.
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Originations
44Origination Dollar Volume (All Markets)
$20,340,000Top 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 |
|---|---|---|---|---|---|
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 26 | $10,270,000 | $395,000 | $0 | 0.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 10 | $7,320,000 | $732,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $1,195,000 | $398,333 | $0 | 0.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $270,000 | $135,000 | $0 | 0.00% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 44 | $20,340,000 | $462,273 | $0 | 0.00% |
For 2022, Bank Of Oak Ridge's most frequently originated type of loan was Conventional, with 44 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 35 | $17,435,000 | $498,143 | $0 | 0.00% |
| Refi | 9 | $2,905,000 | $322,778 | $0 | 0.00% |
For 2022, Bank Of Oak Ridge's most frequently cited loan purpose was Home Purchase, with 35 originations. The 2nd most popular reason was Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 44 | $20,340,000 | $462,273 | $0 | 0.00% |
For 2022, Bank Of Oak Ridge's most frequently cited loan duration was Other, with 44 originations.
Loan Sizing
2022 saw Bank Of Oak Ridge place emphasis on $100k-200k loans with 15 originations, totaling $2,275,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 1 | $545,000 | $545,000 | $0 | 0.00% |
| $250k+ | 1 | $95,000 | $95,000 | $0 | 0.00% |
Bank Of Oak Ridge lent most frequently to those with incomes in the $150k-250k range, with 1 originations. The second most popular income band? $250k+, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 44 | $20,340,000 | $462,273 | $0 | 0.00% |
Bank Of Oak Ridge lent most frequently to those with DTI ratios of Exempt%, with 44 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 42 | $19,700,000 | $469,048 | $0 | 0.00% |
| White | 2 | $640,000 | $320,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Bank Of Oak Ridge has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 44 | $20,340,000 | $462,273 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF AMERICA, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 20.0% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Trouble during payment process | 7 | 46.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | FHA mortgage | Struggling to pay mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 6.7% |