Brannen Bank Mortgage Rates, Fees & Info

Inverness, FL

LEI: 549300VS8Y4N1Y2J0S91

Tax ID: 59-0153930

5 stars - Updated: 6/9/24 - out of 5 stars, based on 19 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Brannen Bank is a smaller bank specializing in Home Purchase loans. Brannen Bank has a high proportion of conventional loans. Their top markets by origination volume include: Homosassa Springs, Tampa, Ocala, The Villages, and Gainesville among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Brannen 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. Brannen Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 7.28% 6/9/24
30 Year Conventional Refi 7.42% 6/9/24
30 Year Cash-out Refi 7.52% 6/9/24
15 Year Conventional Purchase 7.79% 6/9/24
15 Year Conventional Refi 7.33% 6/9/24
15 Year Cash-out Refi 7.33% 6/9/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Brannen Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Brannen Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

353

Origination Dollar Volume (All Markets)

$102,115,000

Awards

Brannen Bank 30 Year Conventional Loans silver Brannen Bank 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Brannen Bank's average 30 year fixed mortgage rate was 6.74%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.26%.

Relative Fees (Closing Costs)

Brannen Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,213.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 218 $63,010,000 $289,037 $4,978 6.87%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 100 $28,730,000 $287,300 $5,327 6.82%
OCALA, FL (FHA|USDA|VA) 20 $4,990,000 $249,500 $4,637 6.84%
THE VILLAGES, FL (FHA|USDA|VA) 6 $3,560,000 $593,333 $8,599 7.24%
GAINESVILLE, FL (FHA|USDA|VA) 8 $1,470,000 $183,750 $4,175 7.61%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $355,000 $355,000 $5,436 6.99%
Brannen Bank's top markets include Homosassa Springs, Tampa, Ocala, The Villages, and Gainesville among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Brannen Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    METROPLEX MORTGAGE SERVICES, INC.
    Similarity Rank: 48
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    PARK SQUARE HOME MORTGAGE, LLC
    Similarity Rank: 855
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    Similarity Rank: 896
    Brannen Bank
    Similarity Rank: 966

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 353 $102,115,000 $289,278 $5,093 6.88%

    For 2023, Brannen Bank's most frequently originated type of loan was Conventional, with 353 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 252 $89,630,000 $355,675 $6,266 6.75%
    Home Improvement 41 $2,955,000 $72,073 $1,638 7.06%
    Other 32 $2,460,000 $76,875 $1,895 7.55%
    Refi 28 $7,070,000 $252,500 $3,674 6.96%

    For 2023, Brannen Bank's most frequently cited loan purpose was Home Purchase, with 252 originations. The 2nd most popular reason was Home Improvement, with 41 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30+ year 147 $55,975,000 $380,782 $6,650 6.66%
    30 Year 85 $27,765,000 $326,647 $5,213 6.74%
    15 Year 79 $7,275,000 $92,089 $1,716 7.34%
    Other 21 $7,645,000 $364,048 $7,839 6.83%
    20 Year 11 $2,815,000 $255,909 $4,774 6.95%
    10 Year 10 $640,000 $64,000 $2,639 7.74%

    For 2023, Brannen Bank's most frequently cited loan duration was 30+ year, with 147 originations. The 2nd most popular length was 30 Year, with 85 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 167 $47,295,000 $283,204
    $2k-3k 93 $35,435,000 $381,022
    $<1k 43 $3,205,000 $74,535
    $3k-4k 15 $4,185,000 $279,000
    $4k-5k 8 $2,720,000 $340,000
    $5k+ 2 $1,470,000 $735,000

    Brannen Bank's average total fees were $5,213, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 167 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 223 $62,585,000 $280,650
    7-8% 56 $19,040,000 $340,000
    5-6% 50 $18,080,000 $361,600
    Over 8% 24 $2,410,000 $100,417

    During 2023, Brannen Bank's average interest rate for loans was 6.74%, while their most frequently originated rate bucket for loans was 6-7%, with 223 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 133 $38,085,000 $286,353 $5,800 6.69%
    $100,000 or less 75 $3,745,000 $49,933 $1,532 7.42%
    $400k-600k 63 $29,725,000 $471,825 $6,762 6.65%
    $100k-200k 57 $8,745,000 $153,421 $4,516 7.02%
    $600k-1MM 20 $14,030,000 $701,500 $8,816 6.37%
    $1MM+ 5 $7,785,000 $1,557,000 $12,174 6.94%

    2023 saw Brannen Bank place emphasis on $200k-400k loans with 133 originations, totaling $38,085,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 77 $24,645,000 $320,065 $5,757 6.76%
    $150k-250k 72 $26,990,000 $374,861 $5,962 6.69%
    $75k-100k 63 $15,575,000 $247,222 $5,036 6.80%
    $50k-75k 59 $11,115,000 $188,390 $4,292 7.16%
    $50k or less 44 $3,820,000 $86,818 $2,648 7.30%
    $250k+ 20 $13,170,000 $658,500 $8,223 6.70%

    Brannen Bank lent most frequently to those with incomes in the $100k-150k range, with 77 originations. The second most popular income band? $150k-250k, with 72 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    >60% 78 $30,400,000 $389,744 $5,976 6.78%
    50-60% 60 $16,860,000 $281,000 $5,256 6.85%
    30-36% 44 $11,220,000 $255,000 $4,715 7.15%
    20-30% 37 $8,595,000 $232,297 $4,815 6.95%
    42% 11 $2,605,000 $236,818 $5,526 6.97%
    43% 10 $2,210,000 $221,000 $4,935 6.67%
    48% 10 $2,240,000 $224,000 $3,479 6.49%
    46% 10 $1,660,000 $166,000 $4,089 7.04%
    49% 10 $2,260,000 $226,000 $5,198 7.33%
    36% 10 $2,180,000 $218,000 $4,578 7.10%
    47% 9 $2,625,000 $291,667 $4,652 6.66%
    40% 8 $2,050,000 $256,250 $4,087 6.43%
    <20% 7 $1,735,000 $247,857 $4,374 7.49%
    39% 7 $1,575,000 $225,000 $3,649 7.10%
    45% 6 $1,620,000 $270,000 $5,761 6.49%
    41% 6 $2,020,000 $336,667 $5,584 6.95%
    44% 5 $2,085,000 $417,000 $5,838 6.35%
    38% 4 $690,000 $172,500 $3,524 6.75%
    37% 4 $840,000 $210,000 $4,966 6.93%

    Brannen Bank lent most frequently to those with DTI ratios of >60%, with 78 originations. The next most common DTI ratio? 50-60%, with 60 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 314 $87,980,000 $280,191 $5,067 6.90%
    Not applicable 15 $6,435,000 $429,000 $0 6.47%
    Not provided 12 $2,980,000 $248,333 $4,859 6.77%
    Asian 3 $2,635,000 $878,333 $9,652 6.66%
    Black 6 $1,730,000 $288,333 $4,806 6.83%
    American Indian 3 $355,000 $118,333 $4,572 7.00%

    Approval Rates

    Total approvals of all applications
    90.07%

    Brannen Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.52%

    Brannen Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 353 $102,115,000 $289,278

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    353 $102,115,000 $289,278

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 41 $5,325,000 $129,878 $3,143 7.41%
    40-60% 60 $18,040,000 $300,667 $5,782 6.68%
    60-80% 153 $59,445,000 $388,529 $6,424 6.78%
    80-100% 47 $16,465,000 $350,319 $5,816 6.70%
    Under 20% 49 $2,445,000 $49,898 $1,375 7.12%