Gateway Bank Mortgage Rates, Fees & Info
Rison, ARLEI: 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
143Origination Dollar Volume (All Markets)
$20,275,000Top 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 |
|---|---|---|---|---|---|
| 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% |
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
2023 saw Gateway Bank place emphasis on $100,000 or less loans with 77 originations, totaling $5,125,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications100.00%
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 origination97.20%
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 |