Bank Mortgage Rates, Fees & Info

Wapello, IA

LEI: 2549000C5KZ15Q2U9V68

Tax ID: 42-0335310

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Bank is a smaller bank specializing in Home Purchase loans. Bank has a high proportion of conventional loans. Their top (well, only) market is Des Moines.

    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. Bank is typically a low 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.37% 12/16/24
    30 Year Conventional Refi 6.55% 12/16/24
    30 Year Cash-out Refi 6.51% 12/16/24
    15 Year Conventional Purchase 6.26% 12/16/24
    15 Year Conventional Refi 6.75% 12/16/24
    15 Year Cash-out Refi 6.75% 12/16/24
    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.

    Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Bank. 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

    121

    Origination Dollar Volume (All Markets)

    $23,765,000

    Awards

    Bank 30 Year Conventional Loans bronze Bank 30 Year Conventional Loans silver
    Show all (2) awards

    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
    Outside of Metro Areas 111 $21,065,000 $189,775 $2,769 4.72%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 10 $2,700,000 $270,000 $1,970 4.76%
    Bank's top markets include and Des Moines among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 150
    FINANCIAL PLUS Credit Union
    Similarity Rank: 236
    Farmers State Bank
    Similarity Rank: 399
    Serve Credit Union
    Similarity Rank: 420
    COMMUNITY 1ST CREDIT UNION
    Similarity Rank: 464
    GREATER IOWA CREDIT UNION
    Similarity Rank: 495
    Premier Credit Union
    Similarity Rank: 504
    Luana Savings Bank
    Similarity Rank: 638
    Bankers Trust Company
    Similarity Rank: 684
    Peoples Bank
    Similarity Rank: 712

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 121 $23,765,000 $196,405 $2,708 4.73%

    For 2022, Bank's most frequently originated type of loan was Conventional, with 121 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 74 $15,670,000 $211,757 $2,831 5.01%
    Refi 25 $4,175,000 $167,000 $2,476 4.48%
    Cash Out Refi 22 $3,920,000 $178,182 $2,579 4.05%

    For 2022, Bank's most frequently cited loan purpose was Home Purchase, with 74 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 84 $18,960,000 $225,714 $2,837 4.86%
    15 Year 16 $2,420,000 $151,250 $2,479 3.86%
    20 Year 15 $1,685,000 $112,333 $2,310 4.94%
    10 Year 3 $195,000 $65,000 $1,577 4.79%
    Other 3 $505,000 $168,333 $2,388 4.63%

    For 2022, Bank's most frequently cited loan duration was 30 Year, with 84 originations. The 2nd most popular length was 15 Year, with 16 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 61 $12,745,000 $208,934
    $1k-2k 23 $3,275,000 $142,391
    $2k-3k 8 $1,710,000 $213,750
    $3k-4k 7 $1,595,000 $227,857
    $4k-5k 4 $1,350,000 $337,500
    $5k+ 3 $1,115,000 $371,667

    Bank's average total fees were $2,837, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 61 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 37 $6,445,000 $174,189
    3-4% 35 $7,505,000 $214,429
    4-5% 29 $5,465,000 $188,448
    6-7% 13 $1,875,000 $144,231
    2.5-3% 6 $2,340,000 $390,000
    <2.5% 1 $135,000 $135,000

    During 2022, Bank's average interest rate for loans was 4.86%, while their most frequently originated rate bucket for loans was 5-6%, with 37 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 47 $6,955,000 $147,979 $2,466 4.62%
    $200k-400k 38 $10,680,000 $281,053 $3,447 4.67%
    $100,000 or less 28 $1,800,000 $64,286 $1,745 5.23%
    $400k-600k 6 $3,080,000 $513,333 $3,786 4.23%
    $600k-1MM 2 $1,250,000 $625,000 $2,104 2.94%

    2022 saw Bank place emphasis on $100k-200k loans with 47 originations, totaling $6,955,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 33 $7,675,000 $232,576 $2,988 4.53%
    $50k-75k 26 $4,250,000 $163,462 $2,401 5.02%
    $75k-100k 21 $4,145,000 $197,381 $2,433 4.61%
    $150k-250k 16 $3,670,000 $229,375 $2,723 4.51%
    $50k or less 14 $1,480,000 $105,714 $2,409 4.87%
    $250k+ 7 $2,135,000 $305,000 $5,121 4.56%

    Bank lent most frequently to those with incomes in the $100k-150k range, with 33 originations. The second most popular income band? $50k-75k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 32 $5,860,000 $183,125 $2,396 4.54%
    30-36% 16 $4,030,000 $251,875 $2,663 4.38%
    <20% 10 $1,420,000 $142,000 $2,044 5.24%
    42% 8 $1,890,000 $236,250 $3,384 4.72%
    38% 8 $1,560,000 $195,000 $2,622 4.88%
    36% 6 $1,720,000 $286,667 $2,695 3.98%
    44% 4 $750,000 $187,500 $4,080 4.59%
    40% 4 $800,000 $200,000 $3,323 5.00%
    37% 4 $1,300,000 $325,000 $4,771 5.35%
    41% 3 $535,000 $178,333 $2,798 5.29%
    39% 3 $345,000 $115,000 $2,434 4.92%
    45% 3 $465,000 $155,000 $1,949 4.76%
    48% 3 $875,000 $291,667 $3,242 4.63%
    49% 3 $305,000 $101,667 $2,314 4.43%
    46% 2 $630,000 $315,000 $3,452 4.44%
    43% 1 $175,000 $175,000 $1,835 4.88%
    50-60% 1 $175,000 $175,000 $1,724 4.88%

    Bank lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? 30-36%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 110 $21,420,000 $194,727 $2,647 4.74%
    Asian 3 $1,185,000 $395,000 $4,299 4.01%
    Not applicable 4 $410,000 $102,500 $0 5.73%
    Asian Indian 1 $275,000 $275,000 $0 3.38%
    Not provided 1 $185,000 $185,000 $0 4.77%
    American Indian 1 $155,000 $155,000 $4,335 3.38%
    Black 1 $135,000 $135,000 $4,131 4.00%

    Approval Rates

    Total approvals of all applications
    83.98%

    Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    50.41%

    Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 121 $23,765,000 $196,405

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    121 $23,765,000 $196,405

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $485,000 $97,000 $1,413 4.90%
    40-60% 15 $2,965,000 $197,667 $3,202 4.53%
    60-80% 51 $11,895,000 $233,235 $2,535 4.44%
    80-100% 44 $8,170,000 $185,682 $2,969 5.05%
    Under 20% 6 $250,000 $41,667 $1,679 5.16%