Bank Of Cleveland Mortgage Rates, Fees & Info
Cleveland, TNLEI: 549300TNGC371911XJ76
Tax ID: 62-1308417
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Bank Of Cleveland is a smaller bank specializing in Home Purchase loans. Bank Of Cleveland has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Cleveland, Chattanooga, Athens, Morristown, and Daphne among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Of Cleveland 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
250Origination Dollar Volume (All Markets)
$65,450,000Top 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 |
|---|---|---|---|---|---|
| CLEVELAND, TN (FHA|USDA|VA) | 196 | $49,580,000 | $252,959 | $0 | 0.00% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 28 | $8,260,000 | $295,000 | $0 | 0.00% |
| Athens, TN (FHA|USDA|VA) | 13 | $2,755,000 | $211,923 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $1,550,000 | $387,500 | $0 | 0.00% |
| MORRISTOWN, TN (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $0 | 0.00% |
| Dayton, TN (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| JACKSON, TN (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| DALTON, GA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
Product Mix
For 2024, Bank Of Cleveland's most frequently originated type of loan was Conventional, with 198 originations. Their 2nd most popular type was FHA, with 40 originations.
Loan Reason
For 2024, Bank Of Cleveland's most frequently cited loan purpose was Home Purchase, with 193 originations. The 2nd most popular reason was Refi, with 38 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 250 | $65,450,000 | $261,800 | $0 | 0.00% |
For 2024, Bank Of Cleveland's most frequently cited loan duration was Other, with 250 originations.
Loan Sizing
2024 saw Bank Of Cleveland place emphasis on $200k-400k loans with 112 originations, totaling $31,410,000 in origination value.
Applicant Income
Bank Of Cleveland lent most frequently to those with incomes in the $100k-150k range, with 62 originations. The second most popular income band? $50k-75k, with 55 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 250 | $65,450,000 | $261,800 | $0 | 0.00% |
Bank Of Cleveland lent most frequently to those with DTI ratios of Exempt%, with 250 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.72%
Bank Of Cleveland has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination94.00%
Bank Of Cleveland has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 250 | $65,450,000 | $261,800 |