Mars Bank Mortgage Rates, Fees & Info
Mars, PALEI: 549300ZKNH5TR7431V31
Tax ID: 25-0640500
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Mars Bank is a smaller bank specializing in Home Purchase loans. Mars Bank has a high proportion of conventional loans. Their top markets by origination volume include: Pittsburgh, Youngstown, Beckley, Oil City, and New Castle among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)Mars 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
345Origination Dollar Volume (All Markets)
$81,285,000Top 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 |
|---|---|---|---|---|---|
| PITTSBURGH, PA (FHA|USDA|VA) | 274 | $65,020,000 | $237,299 | $0 | 0.00% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 27 | $6,345,000 | $235,000 | $0 | 0.00% |
| BECKLEY, WV (FHA|USDA|VA) | 14 | $2,840,000 | $202,857 | $0 | 0.00% |
| Oil City, PA (FHA|USDA|VA) | 3 | $1,785,000 | $595,000 | $0 | 0.00% |
| New Castle, PA (FHA|USDA|VA) | 9 | $1,685,000 | $187,222 | $0 | 0.00% |
| Outside of Metro Areas | 9 | $1,465,000 | $162,778 | $0 | 0.00% |
| Indiana, PA (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $0 | 0.00% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| Meadville, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Somerset, PA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| CHARLESTON, WV (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Bluefield, WV-VA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| St. Marys, PA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 345 | $81,285,000 | $235,609 | $0 | 0.00% |
For 2022, Mars Bank's most frequently originated type of loan was Conventional, with 345 originations.
Loan Reason
For 2022, Mars Bank's most frequently cited loan purpose was Home Purchase, with 207 originations. The 2nd most popular reason was Cash Out Refi, with 67 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 345 | $81,285,000 | $235,609 | $0 | 0.00% |
For 2022, Mars Bank's most frequently cited loan duration was Other, with 345 originations.
Loan Sizing
2022 saw Mars Bank place emphasis on $100k-200k loans with 126 originations, totaling $19,210,000 in origination value.
Applicant Income
Mars Bank lent most frequently to those with incomes in the $50k-75k range, with 73 originations. The second most popular income band? $100k-150k, with 72 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 345 | $81,285,000 | $235,609 | $0 | 0.00% |
Mars Bank lent most frequently to those with DTI ratios of Exempt%, with 345 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.52%
Mars Bank has an average approval rate.
Pick Rate
Approvals leading to origination82.61%
Mars Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 345 | $81,285,000 | $235,609 |