Paragon Bank Mortgage Rates, Fees & Info

Memphis, TN

LEI: 549300TGWKRP2P13MO72

Tax ID: 20-1022853

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Mortgage Data

Review & Overview

Paragon Bank is a smaller bank specializing in Home Purchase loans. Paragon Bank has a high proportion of conventional loans. Their top markets by origination volume include: Memphis, Wilmington, Oxford, Myrtle Beach, and Atlanta among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

Paragon 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

204

Origination Dollar Volume (All Markets)

$65,190,000

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
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 137 $37,475,000 $273,540 $0 0.00%
WILMINGTON, NC (FHA|USDA|VA) 15 $5,815,000 $387,667 $0 0.00%
Oxford, MS (FHA|USDA|VA) 16 $3,910,000 $244,375 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 5 $3,685,000 $737,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 5 $1,875,000 $375,000 $0 0.00%
Edwards, CO (FHA|USDA|VA) 1 $1,805,000 $1,805,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $1,525,000 $1,525,000 $0 0.00%
JACKSON, MS (FHA|USDA|VA) 4 $1,040,000 $260,000 $0 0.00%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $925,000 $925,000 $0 0.00%
ASHEVILLE, NC (FHA|USDA|VA) 2 $900,000 $450,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $865,000 $865,000 $0 0.00%
Tupelo, MS (FHA|USDA|VA) 2 $860,000 $430,000 $0 0.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $775,000 $775,000 $0 0.00%
Outside of Metro Areas 4 $670,000 $167,500 $0 0.00%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $595,000 $595,000 $0 0.00%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
BATON ROUGE, LA (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
Greenwood, MS (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
JACKSON, TN (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Paragon Bank's top markets include Memphis, Wilmington, Oxford, Myrtle Beach, and Atlanta among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 203 $64,835,000 $319,384 $0 0.00%
    VA 1 $355,000 $355,000 $0 0.00%

    For 2023, Paragon Bank's most frequently originated type of loan was Conventional, with 203 originations. Their 2nd most popular type was VA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 170 $56,080,000 $329,882 $0 0.00%
    Cash Out Refi 18 $4,130,000 $229,444 $0 0.00%
    Refi 15 $4,725,000 $315,000 $0 0.00%
    Other 1 $255,000 $255,000 $0 0.00%

    For 2023, Paragon Bank's most frequently cited loan purpose was Home Purchase, with 170 originations. The 2nd most popular reason was Cash Out Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 204 $65,190,000 $319,559 $0 0.00%

    For 2023, Paragon Bank's most frequently cited loan duration was Other, with 204 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 75 $20,985,000 $279,800 $0 0.00%
    $100k-200k 47 $7,145,000 $152,021 $0 0.00%
    $100,000 or less 39 $2,855,000 $73,205 $0 0.00%
    $400k-600k 19 $8,925,000 $469,737 $0 0.00%
    $600k-1MM 16 $11,850,000 $740,625 $0 0.00%
    $1MM+ 8 $13,430,000 $1,678,750 $0 0.00%

    2023 saw Paragon Bank place emphasis on $200k-400k loans with 75 originations, totaling $20,985,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 34 $22,860,000 $672,353 $0 0.00%
    $150k-250k 25 $12,035,000 $481,400 $0 0.00%
    $50k-75k 25 $4,685,000 $187,400 $0 0.00%
    $100k-150k 20 $5,060,000 $253,000 $0 0.00%
    $75k-100k 14 $3,430,000 $245,000 $0 0.00%
    $50k or less 11 $1,805,000 $164,091 $0 0.00%

    Paragon Bank lent most frequently to those with incomes in the $250k+ range, with 34 originations. The second most popular income band? $150k-250k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 204 $65,190,000 $319,559 $0 0.00%

    Paragon Bank lent most frequently to those with DTI ratios of Exempt%, with 204 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 95 $39,405,000 $414,789 $0 0.00%
    Not applicable 72 $14,990,000 $208,194 $0 0.00%
    Black 27 $8,265,000 $306,111 $0 0.00%
    Asian 5 $1,275,000 $255,000 $0 0.00%
    Not provided 5 $1,255,000 $251,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.25%

    Paragon 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
    89.71%

    Paragon Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 204 $65,190,000 $319,559

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    204 $65,190,000 $319,559