Franklin Bank Mortgage Rates, Fees & Info
Pilesgrove, NJLEI: 549300Z1HPXY3UYVL049
Tax ID: 21-0454410
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Mortgage Data
Review & Overview
Franklin Bank is a smaller bank specializing in Home Purchase loans. Franklin Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Ocean City, Atlantic City, and Vineland among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Franklin Bank 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
91Origination Dollar Volume (All Markets)
$19,085,000Top 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 |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 68 | $13,310,000 | $195,735 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 13 | $3,265,000 | $251,154 | $0 | 0.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 5 | $1,865,000 | $373,000 | $0 | 0.00% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 5 | $645,000 | $129,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 91 | $19,085,000 | $209,725 | $0 | 0.00% |
For 2023, Franklin Bank's most frequently originated type of loan was Conventional, with 91 originations.
Loan Reason
For 2023, Franklin Bank's most frequently cited loan purpose was Home Purchase, with 36 originations. The 2nd most popular reason was Home Improvement, with 26 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 91 | $19,085,000 | $209,725 | $0 | 0.00% |
For 2023, Franklin Bank's most frequently cited loan duration was Other, with 91 originations.
Loan Sizing
2023 saw Franklin Bank place emphasis on $100,000 or less loans with 41 originations, totaling $1,885,000 in origination value.
Applicant Income
Franklin Bank lent most frequently to those with incomes in the $100k-150k range, with 27 originations. The second most popular income band? $150k-250k, with 24 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 91 | $19,085,000 | $209,725 | $0 | 0.00% |
Franklin Bank lent most frequently to those with DTI ratios of Exempt%, with 91 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.73%
Franklin Bank has a below average approval rate.
Pick Rate
Approvals leading to origination73.63%
Franklin Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 91 | $19,085,000 | $209,725 |