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 small 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, Washington, Salisbury, and Dover among others. We have data for 149 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 an average 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 about average 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% | 11/17/24 |
| 30 Year Conventional Refi | 6.47% | 11/17/24 |
| 30 Year Cash-out Refi | 6.71% | 11/17/24 |
| 30 Year FHA Purchase | 7.39% | 11/17/24 |
| 30 Year FHA Refi | 7.14% | 11/17/24 |
| 30 Year VA Purchase | 6.18% | 11/17/24 |
| 30 Year VA Refi | 5.58% | 11/17/24 |
| 30 Year USDA Purchase | 6.66% | 11/17/24 |
| 30 Year USDA Refi | 6.21% | 11/17/24 |
| 15 Year Conventional Purchase | 5.92% | 11/17/24 |
| 15 Year Conventional Refi | 6.14% | 11/17/24 |
| 15 Year Cash-out Refi | 6.14% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
3,532Origination Dollar Volume (All Markets)
$1,188,220,000Awards
Meridian Bank Corporation - 2022
Meridian Bank Corporation is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 1,240 | $425,060,000 | $342,790 | $7,893 | 5.05% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1,158 | $382,360,000 | $330,190 | $6,361 | 4.71% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 179 | $80,975,000 | $452,374 | $6,954 | 4.65% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 254 | $68,830,000 | $270,984 | $8,191 | 4.91% |
| DOVER, DE (FHA|USDA|VA) | 102 | $30,710,000 | $301,078 | $9,955 | 5.12% |
| LANCASTER, PA (FHA|USDA|VA) | 69 | $19,655,000 | $284,855 | $7,625 | 4.83% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 32 | $15,950,000 | $498,438 | $6,863 | 4.98% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 54 | $13,450,000 | $249,074 | $7,059 | 5.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 28 | $12,130,000 | $433,214 | $9,184 | 4.96% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 18 | $9,810,000 | $545,000 | $6,212 | 4.63% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 29 | $7,625,000 | $262,931 | $6,719 | 4.93% |
| Outside of Metro Areas | 24 | $7,390,000 | $307,917 | $6,530 | 4.99% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 10 | $5,660,000 | $566,000 | $6,456 | 4.44% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 19 | $5,255,000 | $276,579 | $6,012 | 4.95% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 15 | $4,525,000 | $301,667 | $8,553 | 4.41% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 7 | $3,895,000 | $556,429 | $5,476 | 5.18% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 4 | $3,260,000 | $815,000 | $9,093 | 4.31% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 7 | $3,245,000 | $463,571 | $16,988 | 4.30% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 8 | $2,700,000 | $337,500 | $7,441 | 4.20% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 9 | $2,675,000 | $297,222 | $10,470 | 5.19% |
| READING, PA (FHA|USDA|VA) | 12 | $2,620,000 | $218,333 | $5,682 | 5.23% |
| Cambridge, MD (FHA|USDA|VA) | 9 | $2,455,000 | $272,778 | $7,760 | 4.75% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 8 | $2,430,000 | $303,750 | $7,151 | 4.58% |
| KNOXVILLE, TN (FHA|USDA|VA) | 6 | $2,400,000 | $400,000 | $7,420 | 4.58% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 9 | $2,325,000 | $258,333 | $4,997 | 5.21% |
| GETTYSBURG, PA (FHA|USDA|VA) | 8 | $2,190,000 | $273,750 | $5,970 | 4.67% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 5 | $1,925,000 | $385,000 | $7,556 | 4.68% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 5 | $1,795,000 | $359,000 | $11,458 | 4.23% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 5 | $1,755,000 | $351,000 | $6,684 | 3.92% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 5 | $1,695,000 | $339,000 | $3,462 | 4.95% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $1,585,000 | $528,333 | $3,933 | 3.79% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 6 | $1,560,000 | $260,000 | $7,834 | 4.92% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $1,520,000 | $380,000 | $10,466 | 3.91% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 4 | $1,410,000 | $352,500 | $13,495 | 5.16% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 4 | $1,410,000 | $352,500 | $13,240 | 4.38% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $1,330,000 | $332,500 | $6,264 | 4.37% |
| RICHMOND, VA (FHA|USDA|VA) | 4 | $1,300,000 | $325,000 | $11,047 | 5.22% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 5 | $1,275,000 | $255,000 | $9,508 | 5.95% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 4 | $1,230,000 | $307,500 | $7,983 | 4.31% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 4 | $1,210,000 | $302,500 | $6,961 | 5.53% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $1,185,000 | $395,000 | $11,230 | 5.54% |
| LYNCHBURG, VA (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $5,335 | 5.46% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $6,395 | 3.42% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $3,618 | 5.42% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 4 | $920,000 | $230,000 | $5,698 | 3.81% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 3 | $895,000 | $298,333 | $8,203 | 5.25% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $845,000 | $845,000 | $3,004 | 6.13% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 4 | $820,000 | $205,000 | $5,613 | 4.69% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $5,609 | 3.19% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $7,820 | 3.56% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 5 | $815,000 | $163,000 | $6,316 | 5.52% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $7,485 | 4.94% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $16,777 | 4.13% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $4,698 | 4.38% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $9,592 | 5.25% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $7,777 | 5.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $8,937 | 3.25% |
| LEBANON, PA (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $6,860 | 4.12% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $7,644 | 4.50% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $4,033 | 3.44% |
| LOUISVILLE, KY (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $4,610 | 5.08% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $3,152 | 3.63% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $13,939 | 4.25% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $2,727 | 4.88% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $26,404 | 5.75% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $21,111 | 5.75% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $4,763 | 3.63% |
| Easton, MD (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $6,543 | 4.81% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $13,063 | 2.75% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $35,297 | 5.75% |
| Laconia, NH (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $5,003 | 3.25% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $7,378 | 4.88% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $8,475 | 4.25% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $4,432 | 2.88% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $31,424 | 2.99% |
| GOLDSBORO, NC (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $7,848 | 3.88% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $6,463 | 4.56% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $8,478 | 5.69% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $12,430 | 2.99% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $29,877 | 3.25% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $4,318 | 3.88% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $32,398 | 5.25% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $4,925 | 5.88% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $4,630 | 5.75% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $5,737 | 5.75% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $13,996 | 5.75% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $13,964 | 4.25% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $3,649 | 5.93% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $8,448 | 5.06% |
| Athens, TN (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,438 | 5.75% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $4,102 | 6.25% |
| RACINE, WI (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,822 | 3.13% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $14,445 | 5.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $13,639 | 4.38% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,852 | 2.75% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $6,614 | 2.75% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $8,570 | 4.50% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,191 | 3.25% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $7,059 | 4.44% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $15,356 | 4.25% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $11,848 | 2.63% |
| OCALA, FL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $4,218 | 5.50% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,638 | 3.75% |
| BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $17,344 | 6.63% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,809 | 5.75% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $12,753 | 3.25% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $20,120 | 4.50% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $6,651 | 5.25% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,841 | 5.13% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,797 | 5.75% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $9,448 | 5.25% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $11,212 | 5.13% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $20,427 | 4.88% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,451 | 5.50% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,283 | 2.75% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $11,347 | 5.75% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,178 | 6.25% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,745 | 4.63% |
| St. Marys, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $18,030 | 4.75% |
| Centralia, WA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $10,418 | 3.25% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,261 | 4.38% |
| Greenwood, SC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,289 | 3.12% |
| Selinsgrove, PA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,448 | 6.88% |
| Columbus, MS (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,198 | 3.50% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,988 | 5.75% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $9,077 | 6.13% |
| GREAT FALLS, MT (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $9,722 | 4.63% |
| Rutland, VT (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,939 | 5.63% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,786 | 5.63% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,863 | 5.50% |
| BANGOR, ME (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,998 | 5.13% |
| Hilo, HI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $11,693 | 4.50% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,956 | 6.13% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $13,385 | 5.25% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,538 | 5.37% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,543 | 5.75% |
| Ruston, LA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,451 | 5.37% |
| JACKSON, TN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,535 | 2.75% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,827 | 5.13% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,110 | 3.99% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,587 | 4.38% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,163 | 4.99% |
| AKRON, OH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,286 | 4.13% |
| ELMIRA, NY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,130 | 3.63% |
| Meadville, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,396 | 4.87% |
| Enterprise, AL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,489 | 6.88% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,904 | 3.75% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $5,451 | 7.50% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $4,207 | 6.13% |
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Product Mix
For 2022, Meridian Bank Corporation's most frequently originated type of loan was Conventional, with 2,396 originations. Their 2nd most popular type was FHA, with 813 originations.
Loan Reason
For 2022, Meridian Bank Corporation's most frequently cited loan purpose was Home Purchase, with 2,919 originations. The 2nd most popular reason was Cash Out Refi, with 354 originations.
Loan Duration/Length
For 2022, Meridian Bank Corporation's most frequently cited loan duration was 30 Year, with 3,283 originations. The 2nd most popular length was 15 Year, with 80 originations.
Origination Fees/Closing Costs
Meridian Bank Corporation's average total fees were $7,467, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,014 originations.
Interest Rates
During 2022, Meridian Bank Corporation's average interest rate for loans was 4.88%, while their most frequently originated rate bucket for loans was 5-6%, with 1,183 originations.
Loan Sizing
2022 saw Meridian Bank Corporation place emphasis on $200k-400k loans with 1,902 originations, totaling $548,870,000 in origination value.
Applicant Income
Meridian Bank Corporation lent most frequently to those with incomes in the $50k-75k range, with 833 originations. The second most popular income band? $100k-150k, with 787 originations.
Applicant Debt to Income Ratio
Meridian Bank Corporation lent most frequently to those with DTI ratios of 30-36%, with 607 originations. The next most common DTI ratio? 20-30%, with 556 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.08%
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 origination83.95%
Meridian Bank Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,532 | $1,188,220,000 | $336,416 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3,532 | $1,188,220,000 | $336,416 |