Bank Of Ripley Mortgage Rates, Fees & Info
Ripley, TNLEI: 549300WD5Y35T6978X73
Tax ID: 62-0340125
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Mortgage Data
Review & Overview
Bank Of Ripley is a smaller bank specializing in Refi and Home Purchase loans. Bank Of Ripley has a high proportion of conventional loans. Their top two markets are Memphis and Brownsville .Bank Of Ripley has an 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
52Origination Dollar Volume (All Markets)
$3,360,000Top 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 |
|---|---|---|---|---|---|
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 18 | $1,960,000 | $108,889 | $0 | 0.00% |
| Outside of Metro Areas | 32 | $1,270,000 | $39,688 | $0 | 0.00% |
| Brownsville, TN (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 52 | $3,360,000 | $64,615 | $0 | 0.00% |
For 2023, Bank Of Ripley's most frequently originated type of loan was Conventional, with 52 originations.
Loan Reason
For 2023, Bank Of Ripley's most frequently cited loan purpose was Refi, with 19 originations. The 2nd most popular reason was Home Purchase, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 52 | $3,360,000 | $64,615 | $0 | 0.00% |
For 2023, Bank Of Ripley's most frequently cited loan duration was Other, with 52 originations.
Loan Sizing
2023 saw Bank Of Ripley place emphasis on $100,000 or less loans with 41 originations, totaling $1,535,000 in origination value.
Applicant Income
Bank Of Ripley lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $50k-75k, with 11 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 52 | $3,360,000 | $64,615 | $0 | 0.00% |
Bank Of Ripley lent most frequently to those with DTI ratios of Exempt%, with 52 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.75%
Bank Of Ripley has an average approval rate.
Pick Rate
Approvals leading to origination63.46%
Bank Of Ripley has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 52 | $3,360,000 | $64,615 |