Select Bank Mortgage Rates, Fees & Info
Lynchburg, VALEI: 549300X8XJW35HJ7M023
Tax ID: 20-4795895
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Select Bank is a smaller bank specializing in Home Purchase and Refi loans. Select Bank has a high proportion of conventional loans. Their top markets by origination volume include: Burlington, Lynchburg, Cleveland, Richmond, and Staunton among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Select 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
68Origination Dollar Volume (All Markets)
$40,040,000Top 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 |
|---|---|---|---|---|---|
| BURLINGTON, NC (FHA|USDA|VA) | 16 | $15,650,000 | $978,125 | $0 | 0.00% |
| LYNCHBURG, VA (FHA|USDA|VA) | 26 | $9,710,000 | $373,462 | $0 | 0.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $2,655,000 | $2,655,000 | $0 | 0.00% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $2,010,000 | $1,005,000 | $0 | 0.00% |
| STAUNTON, VA (FHA|USDA|VA) | 5 | $1,905,000 | $381,000 | $0 | 0.00% |
| Boone, NC (FHA|USDA|VA) | 1 | $1,805,000 | $1,805,000 | $0 | 0.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 5 | $1,795,000 | $359,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $1,405,000 | $1,405,000 | $0 | 0.00% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $0 | 0.00% |
| HARRISONBURG, VA (FHA|USDA|VA) | 4 | $760,000 | $190,000 | $0 | 0.00% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 0.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| Danville, VA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 68 | $40,040,000 | $588,824 | $0 | 0.00% |
For 2024, Select Bank's most frequently originated type of loan was Conventional, with 68 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 55 | $26,525,000 | $482,273 | $0 | 0.00% |
| Refi | 12 | $13,460,000 | $1,121,667 | $0 | 0.00% |
| Home Improvement | 1 | $55,000 | $55,000 | $0 | 0.00% |
For 2024, Select Bank's most frequently cited loan purpose was Home Purchase, with 55 originations. The 2nd most popular reason was Refi, with 12 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 68 | $40,040,000 | $588,824 | $0 | 0.00% |
For 2024, Select Bank's most frequently cited loan duration was Other, with 68 originations.
Loan Sizing
2024 saw Select Bank place emphasis on $100k-200k loans with 22 originations, totaling $3,520,000 in origination value.
Applicant Income
Select Bank lent most frequently to those with incomes in the $150k-250k range, with 7 originations. The second most popular income band? $250k+, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 68 | $40,040,000 | $588,824 | $0 | 0.00% |
Select Bank lent most frequently to those with DTI ratios of Exempt%, with 68 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.73%
Select 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 origination79.41%
Select Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 68 | $40,040,000 | $588,824 |