Gateway Bank Mortgage Rates, Fees & Info

Rison, AR

LEI: 549300RP4LE08QWSLQ50

Tax ID: 71-0010090

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Mortgage Data

Review & Overview

Gateway Bank is a smaller bank specializing in Home Purchase loans. Gateway Bank has a high proportion of conventional loans. Their top markets by origination volume include: Pine Bluff, Little Rock, El Dorado, Hot Springs, and Camden among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Gateway 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

143

Origination Dollar Volume (All Markets)

$20,275,000

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
PINE BLUFF, AR (FHA|USDA|VA) 72 $8,000,000 $111,111 $0 0.00%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 50 $7,920,000 $158,400 $0 0.00%
El Dorado, AR (FHA|USDA|VA) 7 $1,685,000 $240,714 $0 0.00%
HOT SPRINGS, AR (FHA|USDA|VA) 4 $1,200,000 $300,000 $0 0.00%
Camden, AR (FHA|USDA|VA) 5 $935,000 $187,000 $0 0.00%
Outside of Metro Areas 3 $275,000 $91,667 $0 0.00%
Malvern, AR (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
Searcy, AR (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Gateway Bank's top markets include Pine Bluff, Little Rock, El Dorado, Hot Springs, and Camden among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 143 $20,275,000 $141,783 $0 0.00%

    For 2023, Gateway Bank's most frequently originated type of loan was Conventional, with 143 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 123 $17,135,000 $139,309 $0 0.00%
    Refi 11 $2,365,000 $215,000 $0 0.00%
    Home Improvement 9 $775,000 $86,111 $0 0.00%

    For 2023, Gateway Bank's most frequently cited loan purpose was Home Purchase, with 123 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 143 $20,275,000 $141,783 $0 0.00%

    For 2023, Gateway Bank's most frequently cited loan duration was Other, with 143 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 77 $5,125,000 $66,558 $0 0.00%
    $100k-200k 44 $6,070,000 $137,955 $0 0.00%
    $200k-400k 13 $3,395,000 $261,154 $0 0.00%
    $600k-1MM 5 $3,775,000 $755,000 $0 0.00%
    $400k-600k 4 $1,910,000 $477,500 $0 0.00%

    2023 saw Gateway Bank place emphasis on $100,000 or less loans with 77 originations, totaling $5,125,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 5 $685,000 $137,000 $0 0.00%
    $50k or less 5 $545,000 $109,000 $0 0.00%
    $50k-75k 3 $215,000 $71,667 $0 0.00%
    $75k-100k 3 $165,000 $55,000 $0 0.00%
    $250k+ 2 $140,000 $70,000 $0 0.00%
    $150k-250k 1 $65,000 $65,000 $0 0.00%

    Gateway Bank lent most frequently to those with incomes in the $100k-150k range, with 5 originations. The second most popular income band? $50k or less, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 143 $20,275,000 $141,783 $0 0.00%

    Gateway Bank lent most frequently to those with DTI ratios of Exempt%, with 143 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 117 $15,905,000 $135,940 $0 0.00%
    White 15 $3,485,000 $232,333 $0 0.00%
    Black 10 $820,000 $82,000 $0 0.00%
    Not provided 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Gateway 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
    97.20%

    Gateway Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 143 $20,275,000 $141,783

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    143 $20,275,000 $141,783