Exchange Bank Mortgage Rates, Fees & Info

Gibbon, NE

LEI: 2549004ZRHLORHQ9LT73

Tax ID: 47-0153340

5 stars - Updated: 11/17/24 - out of 5 stars, based on 22 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Exchange Bank is a smaller bank specializing in Home Purchase loans. Exchange Bank has a high proportion of conventional loans. Their top markets by origination volume include: Grand Island, Lincoln, Manhattan, and Omaha among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Exchange Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Exchange 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 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.

    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 6.61% 11/17/24
    30 Year Conventional Refi 6.51% 11/17/24
    30 Year Cash-out Refi 6.76% 11/17/24
    30 Year VA Purchase 5.94% 11/17/24
    15 Year Conventional Purchase 6.17% 11/17/24
    15 Year Conventional Refi 6.20% 11/17/24
    15 Year Cash-out Refi 6.20% 11/17/24
    15 Year VA Purchase 5.68% 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.

    Exchange Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Exchange 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

    490

    Origination Dollar Volume (All Markets)

    $110,610,000
    Show all (6) awards

    Relative Rate

    Exchange Bank's average 30 year fixed mortgage rate was 6.43%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.05%.

    Relative Fees (Closing Costs)

    Exchange Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,705.

    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
    Outside of Metro Areas 181 $30,925,000 $170,856 $3,106 7.67%
    GRAND ISLAND, NE (FHA|USDA|VA) 100 $25,080,000 $250,800 $1,759 7.57%
    LINCOLN, NE (FHA|USDA|VA) 62 $22,580,000 $364,194 $2,097 7.67%
    MANHATTAN, KS (FHA|USDA|VA) 107 $22,415,000 $209,486 $5,057 6.52%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 40 $9,610,000 $240,250 $3,948 7.57%
    Exchange Bank's top markets include Grand Island, Lincoln, Manhattan, and Omaha among others.

    Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

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

    Home Federal Savings & Loan Association of Grand Island
    Similarity Rank: 48
    METRO CU
    Similarity Rank: 56
    South Metro Federal Credit Union
    Similarity Rank: 75
    Bank of the Flint Hills
    Similarity Rank: 90
    MERITRUST Federal Credit Union
    Similarity Rank: 104
    Cobalt Credit Union
    Similarity Rank: 192
    FOUR POINTS
    Similarity Rank: 240
    CENTRIS FEDERAL CREDIT UNION
    Similarity Rank: 243
    First State Bank
    Similarity Rank: 396
    Landmark National Bank
    Similarity Rank: 624

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 410 $93,190,000 $227,293 $2,367 7.63%
    VA 80 $17,420,000 $217,750 $6,563 6.17%

    For 2023, Exchange Bank's most frequently originated type of loan was Conventional, with 410 originations. Their 2nd most popular type was VA, with 80 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 376 $93,960,000 $249,894 $4,254 7.25%
    Refi 78 $12,540,000 $160,769 $2,286 8.06%
    Home Improvement 15 $1,455,000 $97,000 $1,167 7.34%
    Other 11 $755,000 $68,636 $1,357 8.15%
    Cash Out Refi 10 $1,900,000 $190,000 $2,489 6.59%

    For 2023, Exchange Bank's most frequently cited loan purpose was Home Purchase, with 376 originations. The 2nd most popular reason was Refi, with 78 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 159 $32,645,000 $205,314 $4,705 6.43%
    5 Year 121 $35,605,000 $294,256 $1,286 7.89%
    Other 96 $17,360,000 $180,833 $1,918 8.21%
    20 Year 43 $5,825,000 $135,465 $3,172 7.92%
    3 Year 29 $11,875,000 $409,483 $890 7.74%
    1 Year 16 $3,520,000 $220,000 $2,878 8.56%
    15 Year 16 $2,260,000 $141,250 $2,218 7.13%
    10 Year 10 $1,520,000 $152,000 $876 3.91%

    For 2023, Exchange Bank's most frequently cited loan duration was 30 Year, with 159 originations. The 2nd most popular length was 5 Year, with 121 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 197 $37,805,000 $191,904
    $1k-2k 15 $2,265,000 $151,000
    $2k-3k 11 $2,185,000 $198,636
    $4k-5k 7 $1,465,000 $209,286
    $3k-4k 6 $1,030,000 $171,667
    $5k+ 4 $910,000 $227,500

    Exchange Bank's average total fees were $4,705, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 197 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 159 $42,315,000 $266,132
    Over 8% 153 $23,465,000 $153,366
    6-7% 111 $22,575,000 $203,378
    5-6% 56 $20,960,000 $374,286
    <2.5% 6 $70,000 $11,667
    4-5% 3 $1,005,000 $335,000
    3-4% 2 $220,000 $110,000

    During 2023, Exchange Bank's average interest rate for loans was 6.43%, while their most frequently originated rate bucket for loans was 7-8%, with 159 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 188 $26,630,000 $141,649 $3,605 7.42%
    $100,000 or less 133 $7,895,000 $59,361 $1,543 7.75%
    $200k-400k 126 $33,330,000 $264,524 $5,376 6.91%
    $400k-600k 27 $12,355,000 $457,593 $2,493 7.59%
    $1MM+ 10 $25,780,000 $2,578,000 $0 7.49%
    $600k-1MM 6 $4,620,000 $770,000 $2,391 7.27%

    2023 saw Exchange Bank place emphasis on $100k-200k loans with 188 originations, totaling $26,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 77 $12,855,000 $166,948 $4,865 7.00%
    $50k-75k 67 $9,275,000 $138,433 $3,678 6.82%
    $100k-150k 63 $11,925,000 $189,286 $4,139 7.36%
    $150k-250k 43 $9,955,000 $231,512 $3,092 7.30%
    $50k or less 41 $3,575,000 $87,195 $2,492 7.26%
    $250k+ 24 $7,130,000 $297,083 $2,600 7.34%

    Exchange Bank lent most frequently to those with incomes in the $75k-100k range, with 77 originations. The second most popular income band? $50k-75k, with 67 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 53 $10,215,000 $192,736 $3,621 6.52%
    20-30% 48 $7,820,000 $162,917 $2,942 7.31%
    50-60% 19 $4,885,000 $257,105 $7,086 6.13%
    <20% 19 $2,225,000 $117,105 $2,502 7.54%
    41% 14 $2,660,000 $190,000 $2,647 7.18%
    39% 11 $2,035,000 $185,000 $3,994 6.29%
    42% 10 $1,740,000 $174,000 $4,109 6.39%
    43% 10 $2,570,000 $257,000 $6,077 6.68%
    37% 9 $1,335,000 $148,333 $4,101 6.93%
    44% 8 $1,380,000 $172,500 $3,148 6.48%
    36% 8 $1,620,000 $202,500 $2,355 7.14%
    47% 7 $1,515,000 $216,429 $6,544 6.14%
    40% 5 $895,000 $179,000 $2,949 6.93%
    45% 5 $955,000 $191,000 $4,749 6.97%
    38% 4 $920,000 $230,000 $2,643 7.11%
    48% 4 $870,000 $217,500 $2,342 7.28%
    49% 4 $1,200,000 $300,000 $3,829 6.44%
    46% 3 $685,000 $228,333 $2,774 6.83%
    >60% 1 $165,000 $165,000 $2,170 6.13%

    Exchange Bank lent most frequently to those with DTI ratios of 30-36%, with 53 originations. The next most common DTI ratio? 20-30%, with 48 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 165 $53,845,000 $326,333 $0 7.86%
    White 265 $45,175,000 $170,472 $3,451 7.20%
    Not provided 34 $6,400,000 $188,235 $5,090 6.84%
    Black 16 $3,150,000 $196,875 $3,785 6.84%
    Asian 9 $1,675,000 $186,111 $6,464 7.43%
    American Indian 1 $365,000 $365,000 $10,566 6.00%

    Approval Rates

    Total approvals of all applications
    95.87%

    Exchange Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    91.02%

    Exchange Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    95.0 1 $15,000 $15,000
    NA 489 $110,595,000 $226,166

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    490 $110,610,000 $225,735

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 59 $17,915,000 $303,644 $2,949 7.85%
    40-60% 68 $19,340,000 $284,412 $2,357 7.88%
    60-80% 115 $23,715,000 $206,217 $2,799 7.62%
    80-100% 141 $27,535,000 $195,284 $4,168 6.79%
    Over 100% 18 $4,550,000 $252,778 $9,588 6.11%
    Under 20% 89 $17,555,000 $197,247 $854 7.62%