The Citizens National Bank Of Meridian Mortgage Rates, Fees & Info

Meridian, MS

LEI: 549300XFNTNQLLW0HY87

Tax ID: 64-0134521

5 stars - out of 5 stars, based on 19 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    The Citizens National Bank Of Meridian is a smaller bank specializing in Home Purchase and Refi loans. The Citizens National Bank Of Meridian has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Meridian, Jackson, Hattiesburg, Columbus, and Memphis among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Citizens National Bank Of Meridian 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. The Citizens National Bank Of Meridian is typically a low 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 about average 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.79% 3/27/23
    30 Year Conventional Refi 6.83% 3/27/23
    30 Year Cash-out Refi 6.27% 3/27/23
    30 Year FHA Purchase 6.65% 3/27/23
    30 Year FHA Refi 6.27% 3/27/23
    30 Year VA Purchase 6.45% 3/27/23
    30 Year VA Refi 6.25% 3/27/23
    30 Year USDA Purchase 6.76% 3/27/23
    15 Year Conventional Purchase 6.35% 3/27/23
    15 Year Conventional Refi 6.04% 3/27/23
    15 Year Cash-out Refi 6.04% 3/27/23
    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.


    Originations

    355

    Origination Dollar Volume (All Markets)

    $76,655,000

    Awards

    The Citizens National Bank of Meridian 30 Year Conventional Loans silver The Citizens National Bank of Meridian 30 Year Conventional Loans gold The Citizens National Bank of Meridian 30 Year Conventional Loans silver The Citizens National Bank of Meridian 30 Year Conventional Loans silver
    Show all (4) awards

    Relative Rate

    The Citizens National Bank Of Meridian's average 30 year fixed mortgage rate was 5.16%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.4%.

    Relative Fees (Closing Costs)

    The Citizens National Bank Of Meridian's average total fees/closing costs for a 30 year fixed rate mortgage were $3,625.

    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 $4,750.

    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
    Meridian, MS (FHA|USDA|VA) 115 $20,165,000 $175,348 $2,703 5.19%
    JACKSON, MS (FHA|USDA|VA) 28 $10,890,000 $388,929 $3,057 4.70%
    HATTIESBURG, MS (FHA|USDA|VA) 56 $10,610,000 $189,464 $3,127 4.87%
    Outside of Metro Areas 64 $9,360,000 $146,250 $2,219 5.71%
    Columbus, MS (FHA|USDA|VA) 18 $7,030,000 $390,556 $4,248 4.54%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 21 $4,055,000 $193,095 $2,405 5.70%
    Laurel, MS (FHA|USDA|VA) 23 $3,075,000 $133,696 $2,423 4.99%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $1,755,000 $1,755,000 $0 4.25%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 6 $1,470,000 $245,000 $3,334 5.79%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $1,405,000 $1,405,000 $11,113 3.09%
    Starkville, MS (FHA|USDA|VA) 7 $1,055,000 $150,714 $2,723 4.87%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 2 $1,000,000 $500,000 $0 4.25%
    Oxford, MS (FHA|USDA|VA) 4 $990,000 $247,500 $2,732 5.48%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $825,000 $825,000 $4,519 3.29%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $665,000 $665,000 $2,764 3.79%
    Tupelo, MS (FHA|USDA|VA) 1 $645,000 $645,000 $1,543 4.99%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $515,000 $515,000 $0 4.25%
    Sevierville, TN (FHA|USDA|VA) 1 $445,000 $445,000 $0 5.50%
    Corinth, MS (FHA|USDA|VA) 1 $305,000 $305,000 $4,173 4.63%
    TUSCALOOSA, AL (FHA|USDA|VA) 2 $270,000 $135,000 $0 6.75%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $125,000 $125,000 $3,233 5.38%
    The Citizens National Bank Of Meridian's top markets include Meridian, Jackson, Hattiesburg, Columbus, and Memphis among others.

    Their top states include:
  • Mississippi (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Similar Lenders

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

    RIVERTRUST Federal Credit Union
    Similarity Rank: 96
    Grand Bank for Savings, FSB
    Similarity Rank: 180
    Hancock Whitney Bank
    Similarity Rank: 1343
    Wyndham Capital Mortgage, Inc.
    Similarity Rank: 1476
    HOPE FEDERAL CREDIT UNION
    Similarity Rank: 1872
    BankPlus
    Similarity Rank: 1890
    The Citizens National Bank of Meridian
    Similarity Rank: 1911
    TOWNE MORTGAGE COMPANY
    Similarity Rank: 2135
    KEESLER
    Similarity Rank: 2394
    Hamilton Mortgage Corporation
    Similarity Rank: 2610

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 338 $73,200,000 $216,568 $2,562 5.17%
    VA 12 $2,690,000 $224,167 $6,473 4.69%
    USDA 4 $620,000 $155,000 $4,824 5.82%
    FHA 1 $145,000 $145,000 $7,195 5.75%

    For 2022, The Citizens National Bank Of Meridian's most frequently originated type of loan was Conventional, with 338 originations. Their 2nd most popular type was VA, with 12 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 206 $47,160,000 $228,932 $3,334 5.18%
    Refi 101 $21,075,000 $208,663 $2,225 5.05%
    Home Improvement 18 $2,620,000 $145,556 $1,429 5.66%
    Cash Out Refi 17 $4,395,000 $258,529 $2,285 4.52%
    Other 13 $1,405,000 $108,077 $1,063 5.98%

    For 2022, The Citizens National Bank Of Meridian's most frequently cited loan purpose was Home Purchase, with 206 originations. The 2nd most popular reason was Refi, with 101 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 135 $29,595,000 $219,222 $3,625 5.16%
    5 Year 87 $20,685,000 $237,759 $126 5.28%
    20 Year 43 $12,105,000 $281,512 $2,425 5.16%
    10 Year 33 $3,425,000 $103,788 $1,125 5.71%
    Other 32 $3,660,000 $114,375 $1,848 4.95%
    15 Year 23 $6,865,000 $298,478 $3,000 4.30%
    1 Year 2 $320,000 $160,000 $0 5.53%

    For 2022, The Citizens National Bank Of Meridian's most frequently cited loan duration was 30 Year, with 135 originations. The 2nd most popular length was 5 Year, with 87 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 226 $44,780,000 $198,142
    $1k-2k 27 $4,525,000 $167,593
    $2k-3k 14 $3,140,000 $224,286
    $3k-4k 1 $455,000 $455,000
    $4k-5k 1 $265,000 $265,000
    $5k+ 1 $405,000 $405,000

    The Citizens National Bank Of Meridian's average total fees were $3,625, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 226 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 106 $17,580,000 $165,849
    4-5% 92 $22,240,000 $241,739
    3-4% 73 $23,495,000 $321,849
    6-7% 52 $9,220,000 $177,308
    7-8% 20 $2,500,000 $125,000
    2.5-3% 6 $1,120,000 $186,667
    Over 8% 5 $255,000 $51,000
    <2.5% 1 $245,000 $245,000

    During 2022, The Citizens National Bank Of Meridian's average interest rate for loans was 5.16%, while their most frequently originated rate bucket for loans was 5-6%, with 106 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 122 $6,470,000 $53,033 $1,644 5.55%
    $100k-200k 110 $16,230,000 $147,545 $2,905 5.13%
    $200k-400k 84 $22,320,000 $265,714 $3,279 4.89%
    $400k-600k 17 $8,125,000 $477,941 $5,261 4.88%
    $600k-1MM 14 $10,220,000 $730,000 $4,149 4.73%
    $1MM+ 8 $13,290,000 $1,661,250 $5,853 4.06%

    2022 saw The Citizens National Bank Of Meridian place emphasis on $100,000 or less loans with 122 originations, totaling $6,470,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 64 $7,860,000 $122,813 $2,875 5.33%
    $50k or less 64 $4,520,000 $70,625 $1,817 5.43%
    $100k-150k 49 $11,085,000 $226,224 $3,842 5.27%
    $150k-250k 40 $11,060,000 $276,500 $2,859 5.32%
    $75k-100k 40 $6,450,000 $161,250 $2,765 4.83%
    $250k+ 27 $13,095,000 $485,000 $3,132 4.39%

    The Citizens National Bank Of Meridian lent most frequently to those with incomes in the $50k-75k range, with 64 originations. The second most popular income band? $50k or less, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 78 $14,420,000 $184,872 $2,786 4.68%
    30-36% 52 $10,390,000 $199,808 $2,387 5.38%
    <20% 35 $8,785,000 $251,000 $2,776 4.79%
    36% 18 $3,170,000 $176,111 $3,386 6.00%
    41% 12 $2,600,000 $216,667 $3,034 5.68%
    37% 10 $1,860,000 $186,000 $2,720 4.65%
    40% 9 $1,025,000 $113,889 $2,819 4.28%
    >60% 7 $475,000 $67,857 $1,413 6.02%
    44% 7 $1,055,000 $150,714 $2,465 5.02%
    45% 6 $740,000 $123,333 $2,627 6.46%
    43% 6 $2,140,000 $356,667 $2,872 5.68%
    39% 6 $770,000 $128,333 $1,973 5.91%
    42% 5 $695,000 $139,000 $4,540 5.44%
    48% 5 $1,015,000 $203,000 $3,014 6.12%
    50-60% 5 $565,000 $113,000 $1,799 5.61%
    38% 4 $820,000 $205,000 $8,295 4.65%
    49% 4 $400,000 $100,000 $1,864 5.66%
    47% 4 $1,510,000 $377,500 $2,469 4.91%
    46% 1 $205,000 $205,000 $3,806 5.63%

    The Citizens National Bank Of Meridian lent most frequently to those with DTI ratios of 20-30%, with 78 originations. The next most common DTI ratio? 30-36%, with 52 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 216 $46,490,000 $215,231 $2,892 5.06%
    Not applicable 62 $20,240,000 $326,452 $0 5.14%
    Black 61 $6,855,000 $112,377 $2,411 5.45%
    Not provided 8 $1,640,000 $205,000 $3,226 5.50%
    Asian 5 $1,115,000 $223,000 $2,341 6.00%
    Chinese 1 $175,000 $175,000 $0 5.75%
    American Indian 2 $140,000 $70,000 $2,278 4.80%

    Approval Rates

    Total approvals of all applications
    88.69%

    The Citizens National Bank Of Meridian has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.83%

    The Citizens National Bank Of Meridian has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 355 $76,655,000 $215,930

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    355 $76,655,000 $215,930

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $2,935,000 $117,400 $1,761 5.44%
    40-60% 41 $6,795,000 $165,732 $2,434 5.05%
    60-80% 111 $28,055,000 $252,748 $2,821 4.95%
    80-100% 148 $37,540,000 $253,649 $3,158 5.13%
    Over 100% 2 $680,000 $340,000 $17,109 4.50%
    Under 20% 26 $580,000 $22,308 $610 6.31%