Gilmer National Bank Gilmer Texas Mortgage Rates, Fees & Info
GILMER, TXLEI: 549300YBM0K5N6REP663
Tax ID: 75-0261226
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Gilmer National Bank Gilmer Texas is a smaller bank specializing in Home Purchase loans. Gilmer National Bank Gilmer Texas has a high proportion of conventional loans. Their top two markets are Longview and Tyler .Gilmer National Bank Gilmer Texas 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. Gilmer National Bank Gilmer Texas 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 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.
Originations
51Origination Dollar Volume (All Markets)
$6,135,000Awards
Gilmer National Bank Gilmer Texas - 2019
Gilmer National Bank Gilmer Texas is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
Work for Gilmer National Bank Gilmer Texas?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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 |
|---|---|---|---|---|---|
| LONGVIEW, TX (FHA|USDA|VA) | 42 | $4,970,000 | $118,333 | $2,297 | 6.28% |
| TYLER, TX (FHA|USDA|VA) | 5 | $775,000 | $155,000 | $1,660 | 6.35% |
| Outside of Metro Areas | 4 | $390,000 | $97,500 | $1,341 | 6.31% |
Similar Lenders
We use machine learning to identify the top lenders compared against Gilmer National Bank Gilmer Texas based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 48
Similarity Rank: 81
Similarity Rank: 585
Similarity Rank: 589
Similarity Rank: 660
Similarity Rank: 750
Similarity Rank: 1647
Similarity Rank: 3008
Similarity Rank: 3960
Similarity Rank: 4440
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 51 | $6,135,000 | $120,294 | $2,212 | 6.29% |
For 2019, Gilmer National Bank Gilmer Texas's most frequently originated type of loan was Conventional, with 51 originations.
Loan Reason
For 2019, Gilmer National Bank Gilmer Texas's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Home Improvement, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 40 | $4,720,000 | $118,000 | $2,087 | 6.34% |
| 20 Year | 7 | $1,155,000 | $165,000 | $2,710 | 6.32% |
| Other | 4 | $260,000 | $65,000 | $0 | 5.75% |
For 2019, Gilmer National Bank Gilmer Texas's most frequently cited loan duration was 30 Year, with 40 originations. The 2nd most popular length was 20 Year, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 23 | $3,065,000 | $133,261 |
Gilmer National Bank Gilmer Texas's average total fees were $2,087, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 23 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 41 | $4,885,000 | $119,146 |
| 5-6% | 8 | $1,020,000 | $127,500 |
| 4-5% | 2 | $230,000 | $115,000 |
During 2019, Gilmer National Bank Gilmer Texas's average interest rate for loans was 6.34%, while their most frequently originated rate bucket for loans was 6-7%, with 41 originations.
Loan Sizing
2019 saw Gilmer National Bank Gilmer Texas place emphasis on $100,000 or less loans with 30 originations, totaling $1,900,000 in origination value.
Applicant Income
Gilmer National Bank Gilmer Texas lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $50k-75k, with 8 originations.
Applicant Debt to Income Ratio
Gilmer National Bank Gilmer Texas lent most frequently to those with DTI ratios of 20-30%, with 8 originations. The next most common DTI ratio? 30-36%, with 7 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.83%
Gilmer National Bank Gilmer Texas has an average approval rate.
Pick Rate
Approvals leading to origination92.16%
Gilmer National Bank Gilmer Texas has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 51 | $6,135,000 | $120,294 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $5,000 | $5,000 |
| Single Family (1-4 Units):Site-Built | 50 | $6,130,000 | $122,600 |