Boonville Federal Savings Bank Mortgage Rates, Fees & Info

BOONVILLE, IN

LEI: 2549002F2MBMPG0YSQ20

Tax ID: 35-0188195

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

    Boonville Federal Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Boonville Federal Savings Bank has a high proportion of conventional loans. Their top two markets are Evansville and Vincennes .

    Boonville Federal Savings 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. Boonville Federal Savings 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 7.27% 9/22/24
    30 Year Conventional Refi 7.48% 9/22/24
    30 Year Cash-out Refi 7.30% 9/22/24
    15 Year Conventional Refi 6.49% 9/22/24
    15 Year Cash-out Refi 6.49% 9/22/24
    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.

    Boonville Federal Savings Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Boonville Federal Savings 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

    52

    Origination Dollar Volume (All Markets)

    $6,850,000

    Awards

    BOONVILLE FEDERAL SAVINGS BANK 30 Year Conventional Loans bronze BOONVILLE FEDERAL SAVINGS BANK 30 Year Conventional Loans silver BOONVILLE FEDERAL SAVINGS BANK 30 Year Conventional Loans bronze
    Show all (3) 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
    EVANSVILLE, IN-KY (FHA|USDA|VA) 42 $5,390,000 $128,333 $2,463 5.31%
    Outside of Metro Areas 8 $1,390,000 $173,750 $3,007 5.73%
    Vincennes, IN (FHA|USDA|VA) 2 $70,000 $35,000 $0 4.98%
    Boonville Federal Savings Bank's top markets include Evansville and Vincennes among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)

    • Similar Lenders

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

    EVANSVILLE
    Similarity Rank: 21
    CRANE
    Similarity Rank: 34
    BOONVILLE FEDERAL SAVINGS BANK
    Similarity Rank: 42
    Heritage Federal Credit Union
    Similarity Rank: 232
    Independence Bank of Kentucky
    Similarity Rank: 410
    First Federal Savings Bank
    Similarity Rank: 416
    INDIANA MEMBERS CREDIT UNION
    Similarity Rank: 494
    Banterra Bank
    Similarity Rank: 520
    MORTGAGE MASTERS OF INDIANA, INC.
    Similarity Rank: 1540
    NAVY FEDERAL CREDIT UNION
    Similarity Rank: 1768

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 52 $6,850,000 $131,731 $2,547 5.36%

    For 2022, Boonville Federal Savings Bank's most frequently originated type of loan was Conventional, with 52 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 18 $3,280,000 $182,222 $4,066 5.54%
    Cash Out Refi 16 $1,870,000 $116,875 $2,107 5.49%
    Refi 8 $1,200,000 $150,000 $2,123 4.69%
    Home Improvement 5 $235,000 $47,000 $1,144 5.58%
    Other 5 $265,000 $53,000 $477 5.20%

    For 2022, Boonville Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 18 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 15 $1,885,000 $125,667 $2,673 4.94%
    15 Year 9 $735,000 $81,667 $1,630 4.88%
    20 Year 9 $1,195,000 $132,778 $2,625 6.33%
    Other 9 $955,000 $106,111 $508 5.53%
    30+ year 6 $1,930,000 $321,667 $5,107 5.44%
    10 Year 4 $150,000 $37,500 $967 5.39%

    For 2022, Boonville Federal Savings Bank's most frequently cited loan duration was 30 Year, with 15 originations. The 2nd most popular length was 15 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 16 $1,600,000 $100,000
    $1k-2k 8 $760,000 $95,000
    $2k-3k 8 $1,450,000 $181,250
    $3k-4k 6 $1,680,000 $280,000
    $5k+ 1 $485,000 $485,000

    Boonville Federal Savings Bank's average total fees were $2,673, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 16 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 18 $2,600,000 $144,444
    5-6% 12 $2,140,000 $178,333
    6-7% 12 $950,000 $79,167
    3-4% 5 $415,000 $83,000
    7-8% 3 $375,000 $125,000
    2.5-3% 1 $85,000 $85,000

    During 2022, Boonville Federal Savings Bank's average interest rate for loans was 4.94%, while their most frequently originated rate bucket for loans was 4-5%, with 18 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 27 $1,505,000 $55,741 $1,291 5.39%
    $100k-200k 14 $2,120,000 $151,429 $2,879 5.49%
    $200k-400k 10 $2,740,000 $274,000 $3,873 5.17%
    $400k-600k 1 $485,000 $485,000 $6,963 4.50%

    2022 saw Boonville Federal Savings Bank place emphasis on $100,000 or less loans with 27 originations, totaling $1,505,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 12 $990,000 $82,500 $1,756 5.25%
    $50k-75k 10 $1,200,000 $120,000 $2,487 4.92%
    $100k-150k 9 $1,725,000 $191,667 $3,074 4.69%
    $75k-100k 7 $1,195,000 $170,714 $2,547 5.43%
    $150k-250k 4 $1,010,000 $252,500 $4,109 6.00%

    Boonville Federal Savings Bank lent most frequently to those with incomes in the $50k or less range, with 12 originations. The second most popular income band? $50k-75k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 19 $2,735,000 $143,947 $2,622 4.87%
    30-36% 10 $1,280,000 $128,000 $2,395 5.22%
    <20% 6 $730,000 $121,667 $1,812 5.82%
    37% 3 $325,000 $108,333 $1,880 5.60%
    36% 2 $740,000 $370,000 $6,050 5.16%
    38% 1 $145,000 $145,000 $3,349 4.25%
    42% 1 $265,000 $265,000 $4,293 6.50%
    >60% 1 $35,000 $35,000 $0 6.95%

    Boonville Federal Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? 30-36%, with 10 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 43 $6,275,000 $145,930 $2,566 5.12%
    Not applicable 7 $455,000 $65,000 $0 6.61%
    Black 2 $120,000 $60,000 $1,825 6.19%

    Approval Rates

    Total approvals of all applications
    87.84%

    Boonville Federal Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.00%

    Boonville Federal Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 52 $6,850,000 $131,731

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    52 $6,850,000 $131,731

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $490,000 $81,667 $2,002 4.28%
    40-60% 8 $730,000 $91,250 $1,847 5.52%
    60-80% 22 $2,680,000 $121,818 $2,408 5.46%
    80-100% 11 $2,605,000 $236,818 $3,909 5.11%
    Under 20% 4 $200,000 $50,000 $639 6.13%