Meridian Bank Corporation Mortgage Rates, Fees & Info
Malvern,LEI: 635400IW1QMK3FNFF894
Tax ID: 32-0116054
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Mortgage Data
Review & Overview
Meridian Bank Corporation is a smaller bank specializing in Home Purchase loans. Meridian Bank Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Philadelphia, Baltimore, Salisbury, Washington, and Dover among others. We have data for 117 markets. (Some data included below & more in-depth data is available with an active subscription.)Meridian Bank Corporation 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. Meridian Bank Corporation is typically a high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.65% | 12/17/24 |
| 30 Year Conventional Refi | 6.47% | 12/17/24 |
| 30 Year Cash-out Refi | 6.71% | 12/17/24 |
| 30 Year FHA Purchase | 7.39% | 12/17/24 |
| 30 Year FHA Refi | 7.14% | 12/17/24 |
| 30 Year VA Purchase | 6.18% | 12/17/24 |
| 30 Year VA Refi | 5.58% | 12/17/24 |
| 30 Year USDA Purchase | 6.66% | 12/17/24 |
| 30 Year USDA Refi | 6.21% | 12/17/24 |
| 15 Year Conventional Purchase | 5.92% | 12/17/24 |
| 15 Year Conventional Refi | 6.14% | 12/17/24 |
| 15 Year Cash-out Refi | 6.14% | 12/17/24 |
| 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. | ||
Meridian Bank Corporation Mortgage Calculator
Your Estimates
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This is not an official calculator from Meridian Bank Corporation. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,557Origination Dollar Volume (All Markets)
$787,925,000Awards
Meridian Bank Corporation - 2023
Meridian Bank Corporation is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Meridian Bank Corporation's average 30 year fixed mortgage rate was
6.69%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.21%.
Relative Fees (Closing Costs)
Meridian Bank Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $8,527.
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 $9,089.
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) | 934 | $289,360,000 | $309,807 | $8,687 | 7.12% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 750 | $215,120,000 | $286,827 | $7,377 | 6.81% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 200 | $55,540,000 | $277,700 | $10,332 | 6.88% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 111 | $42,945,000 | $386,892 | $8,982 | 7.07% |
| DOVER, DE (FHA|USDA|VA) | 94 | $26,180,000 | $278,511 | $11,844 | 6.93% |
| LANCASTER, PA (FHA|USDA|VA) | 59 | $15,215,000 | $257,881 | $9,149 | 6.38% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $12,995,000 | $4,331,667 | $10,688 | 7.38% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 18 | $11,770,000 | $653,889 | $7,533 | 7.01% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 17 | $11,115,000 | $653,824 | $12,182 | 7.08% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 38 | $9,270,000 | $243,947 | $8,243 | 6.55% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 31 | $9,125,000 | $294,355 | $8,564 | 7.14% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 26 | $6,420,000 | $246,923 | $8,523 | 6.68% |
| Outside of Metro Areas | 15 | $4,815,000 | $321,000 | $8,320 | 6.45% |
| READING, PA (FHA|USDA|VA) | 18 | $4,580,000 | $254,444 | $9,531 | 6.86% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 9 | $3,765,000 | $418,333 | $5,652 | 7.58% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 14 | $3,480,000 | $248,571 | $6,932 | 6.84% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 12 | $3,390,000 | $282,500 | $7,356 | 6.47% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 6 | $2,780,000 | $463,333 | $10,233 | 6.21% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 5 | $2,485,000 | $497,000 | $9,271 | 8.35% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 4 | $2,280,000 | $570,000 | $14,472 | 6.59% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 5 | $2,075,000 | $415,000 | $8,263 | 6.63% |
| RICHMOND, VA (FHA|USDA|VA) | 8 | $1,950,000 | $243,750 | $7,514 | 7.34% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 8 | $1,830,000 | $228,750 | $7,764 | 7.62% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $1,680,000 | $840,000 | $6,344 | 6.75% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $1,505,000 | $501,667 | $9,632 | 7.00% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 6 | $1,410,000 | $235,000 | $7,478 | 6.44% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 4 | $1,310,000 | $327,500 | $5,203 | 7.03% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 6 | $1,300,000 | $216,667 | $7,810 | 6.50% |
| Cambridge, MD (FHA|USDA|VA) | 8 | $1,290,000 | $161,250 | $7,673 | 6.88% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 4 | $1,250,000 | $312,500 | $8,446 | 7.25% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $1,225,000 | $408,333 | $6,148 | 6.58% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 5 | $1,205,000 | $241,000 | $8,060 | 7.12% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 2 | $1,200,000 | $600,000 | $7,792 | 7.56% |
| LOUISVILLE, KY (FHA|USDA|VA) | 5 | $1,175,000 | $235,000 | $5,735 | 6.73% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 4 | $1,100,000 | $275,000 | $10,132 | 5.91% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $6,355 | 6.09% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 5 | $1,005,000 | $201,000 | $6,481 | 6.18% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $975,000 | $195,000 | $6,161 | 6.72% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $12,013 | 7.19% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 5 | $885,000 | $177,000 | $6,023 | 6.70% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $9,824 | 6.37% |
| TUCSON, AZ (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $5,367 | 6.71% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $6,328 | 7.21% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $7,342 | 7.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $8,399 | 7.17% |
| PITTSBURGH, PA (FHA|USDA|VA) | 4 | $790,000 | $197,500 | $9,402 | 6.63% |
| COLUMBIA, SC (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $8,762 | 6.42% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $4,146 | 7.63% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $9,523 | 6.94% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $695,000 | $695,000 | $9,275 | 5.99% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $5,764 | 7.13% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $17,300 | 6.13% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $8,131 | 6.94% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $7,662 | 6.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $6,543 | 6.68% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $17,459 | 6.63% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $7,213 | 7.44% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $4,551 | 7.63% |
| Sanford, NC (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $4,524 | 6.88% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,209 | 7.25% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $5,790 | 8.00% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $14,206 | 7.13% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $12,994 | 5.49% |
| BEND, OR (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $17,084 | 6.99% |
| Somerset, PA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $5,098 | 6.19% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $6,399 | 6.69% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,900 | 6.50% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,989 | 5.25% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $17,076 | 5.75% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,345 | 7.25% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $15,708 | 6.50% |
| LAWRENCE, KS (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,925 | 6.13% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,847 | 6.25% |
| North Wilkesboro, NC (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $12,615 | 7.25% |
| Wilmington, OH (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $8,381 | 6.50% |
| GREAT FALLS, MT (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $11,709 | 5.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,519 | 7.50% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $13,764 | 6.99% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $19,883 | 7.63% |
| Clovis, NM (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $10,073 | 6.50% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $7,204 | 5.25% |
| KANKAKEE, IL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,614 | 7.50% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,571 | 6.25% |
| Greenwood, SC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $11,359 | 7.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $7,963 | 6.75% |
| MADISON, WI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $21,088 | 6.75% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $17,279 | 7.25% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $11,853 | 6.63% |
| ROME, GA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $13,904 | 6.13% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,518 | 6.13% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $11,648 | 7.00% |
| JACKSON, MS (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,106 | 7.38% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,132 | 7.63% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $13,288 | 5.75% |
| Easton, MD (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,711 | 7.13% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,415 | 5.75% |
| Henderson, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $11,666 | 6.25% |
| Indiana, PA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $8,586 | 6.50% |
| Madison, IN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,157 | 7.75% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,901 | 5.99% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,613 | 7.13% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,656 | 7.13% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,749 | 6.88% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,594 | 7.00% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,456 | 7.25% |
| OCALA, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,619 | 6.50% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,950 | 7.50% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $7,303 | 6.99% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,276 | 7.88% |
| LAWTON, OK (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,940 | 6.00% |
| Pottsville, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,906 | 6.38% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $5,103 | 7.63% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,647 | 6.88% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,493 | 6.38% |
| Sunbury, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,627 | 6.49% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,789 | 7.38% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $5,530 | 7.88% |
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Product Mix
For 2023, Meridian Bank Corporation's most frequently originated type of loan was Conventional, with 1,465 originations. Their 2nd most popular type was FHA, with 623 originations.
Loan Reason
For 2023, Meridian Bank Corporation's most frequently cited loan purpose was Home Purchase, with 2,138 originations. The 2nd most popular reason was Home Improvement, with 177 originations.
Loan Duration/Length
For 2023, Meridian Bank Corporation's most frequently cited loan duration was 30 Year, with 2,155 originations. The 2nd most popular length was 15 Year, with 286 originations.
Origination Fees/Closing Costs
Meridian Bank Corporation's average total fees were $8,527, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 965 originations.
Interest Rates
During 2023, Meridian Bank Corporation's average interest rate for loans was 6.69%, while their most frequently originated rate bucket for loans was 6-7%, with 1,245 originations.
Loan Sizing
2023 saw Meridian Bank Corporation place emphasis on $200k-400k loans with 1,304 originations, totaling $371,800,000 in origination value.
Applicant Income
Meridian Bank Corporation lent most frequently to those with incomes in the $50k-75k range, with 566 originations. The second most popular income band? $100k-150k, with 563 originations.
Applicant Debt to Income Ratio
Meridian Bank Corporation lent most frequently to those with DTI ratios of 30-36%, with 387 originations. The next most common DTI ratio? 20-30%, with 337 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.63%
Meridian Bank Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination80.45%
Meridian Bank Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,557 | $787,925,000 | $308,144 |