Franklin Bank Mortgage Rates, Fees & Info

Pilesgrove, NJ

LEI: 549300Z1HPXY3UYVL049

Tax ID: 21-0454410

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Franklin Bank is a smaller bank specializing in Home Purchase and Refi loans. Franklin Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Ocean City, Atlantic City, Salisbury, and Vineland among others. We have data for 6 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.

    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.

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    Originations

    129

    Origination Dollar Volume (All Markets)

    $25,015,000

    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
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 105 $18,575,000 $176,905 $0 0.00%
    OCEAN CITY, NJ (FHA|USDA|VA) 13 $3,295,000 $253,462 $0 0.00%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 7 $2,405,000 $343,571 $0 0.00%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 2 $180,000 $90,000 $0 0.00%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    Franklin Bank's top markets include Philadelphia, Ocean City, Atlantic City, Salisbury, and Vineland among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 129 $25,015,000 $193,915 $0 0.00%

    For 2022, Franklin Bank's most frequently originated type of loan was Conventional, with 129 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 56 $14,460,000 $258,214 $0 0.00%
    Refi 41 $8,275,000 $201,829 $0 0.00%
    Home Improvement 23 $1,755,000 $76,304 $0 0.00%
    Other 9 $525,000 $58,333 $0 0.00%

    For 2022, Franklin Bank's most frequently cited loan purpose was Home Purchase, with 56 originations. The 2nd most popular reason was Refi, with 41 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 129 $25,015,000 $193,915 $0 0.00%

    For 2022, Franklin Bank's most frequently cited loan duration was Other, with 129 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 41 $2,265,000 $55,244 $0 0.00%
    $100k-200k 38 $5,590,000 $147,105 $0 0.00%
    $200k-400k 37 $10,335,000 $279,324 $0 0.00%
    $400k-600k 10 $4,570,000 $457,000 $0 0.00%
    $600k-1MM 3 $2,255,000 $751,667 $0 0.00%

    2022 saw Franklin Bank place emphasis on $100,000 or less loans with 41 originations, totaling $2,265,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 33 $5,675,000 $171,970 $0 0.00%
    $150k-250k 29 $7,745,000 $267,069 $0 0.00%
    $75k-100k 23 $3,135,000 $136,304 $0 0.00%
    $50k-75k 14 $1,190,000 $85,000 $0 0.00%
    $250k+ 7 $2,075,000 $296,429 $0 0.00%
    $50k or less 4 $330,000 $82,500 $0 0.00%

    Franklin Bank lent most frequently to those with incomes in the $100k-150k range, with 33 originations. The second most popular income band? $150k-250k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 129 $25,015,000 $193,915 $0 0.00%

    Franklin Bank lent most frequently to those with DTI ratios of Exempt%, with 129 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 94 $15,750,000 $167,553 $0 0.00%
    Not applicable 16 $4,630,000 $289,375 $0 0.00%
    Not provided 12 $2,890,000 $240,833 $0 0.00%
    Asian Indian 1 $805,000 $805,000 $0 0.00%
    Black 4 $610,000 $152,500 $0 0.00%
    American Indian 1 $165,000 $165,000 $0 0.00%
    Asian 1 $165,000 $165,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    80.00%

    Franklin Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    76.74%

    Franklin Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 129 $25,015,000 $193,915

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    129 $25,015,000 $193,915