The Friendship State Bank Mortgage Rates, Fees & Info

Friendship, IN

LEI: 254900803AYZRNV49618

Tax ID: 35-0323330

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

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  • 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

    The Friendship State Bank is a smaller bank specializing in Home Purchase and Refi loans. The Friendship State Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Cincinnati, Madison, Indianapolis, North Vernon, and Greensburg among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Friendship State 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. The Friendship State 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.85% 5/4/24
    30 Year Conventional Refi 7.26% 5/4/24
    30 Year Cash-out Refi 6.29% 5/4/24
    30 Year USDA Purchase 7.19% 5/4/24
    15 Year Conventional Purchase 6.38% 5/4/24
    15 Year Conventional Refi 6.53% 5/4/24
    15 Year Cash-out Refi 6.53% 5/4/24
    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.

    The Friendship State Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from The Friendship State 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

    329

    Origination Dollar Volume (All Markets)

    $48,905,000
    Show all (5) 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 154 $20,630,000 $133,961 $1,622 5.32%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 108 $18,250,000 $168,981 $1,894 5.00%
    Madison, IN (FHA|USDA|VA) 57 $7,815,000 $137,105 $2,137 4.73%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $945,000 $315,000 $2,614 5.25%
    North Vernon, IN (FHA|USDA|VA) 3 $565,000 $188,333 $2,144 5.00%
    Greensburg, IN (FHA|USDA|VA) 2 $440,000 $220,000 $4,713 4.00%
    Scottsburg, IN (FHA|USDA|VA) 2 $260,000 $130,000 $2,479 4.44%
    The Friendship State Bank's top markets include Cincinnati, Madison, Indianapolis, North Vernon, and Greensburg among others.

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

    • Similar Lenders

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

    Sharefax Credit Union
    Similarity Rank: 170
    CINFED Federal Credit Union
    Similarity Rank: 210
    German American Bank
    Similarity Rank: 300
    The North Side Bank & Trust Company
    Similarity Rank: 450
    FAIR WAY LENDING LLC
    Similarity Rank: 462
    Eagle Savings Bank
    Similarity Rank: 546
    The Friendship State Bank
    Similarity Rank: 637
    Somerville Bank
    Similarity Rank: 819
    Forcht Bank
    Similarity Rank: 820
    KEMBA CREDIT UNION, INC.
    Similarity Rank: 840

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 327 $48,665,000 $148,823 $1,819 5.10%
    USDA 2 $240,000 $120,000 $3,293 4.50%

    For 2022, The Friendship State Bank's most frequently originated type of loan was Conventional, with 327 originations. Their 2nd most popular type was USDA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 135 $24,315,000 $180,111 $1,910 4.91%
    Refi 121 $17,935,000 $148,223 $1,739 5.38%
    Other 32 $1,940,000 $60,625 $1,138 5.98%
    Cash Out Refi 29 $3,765,000 $129,828 $2,875 3.55%
    Home Improvement 12 $950,000 $79,167 $1,096 5.65%

    For 2022, The Friendship State Bank's most frequently cited loan purpose was Home Purchase, with 135 originations. The 2nd most popular reason was Refi, with 121 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 131 $24,745,000 $188,893 $2,152 4.82%
    20 Year 96 $13,340,000 $138,958 $1,741 5.43%
    15 Year 46 $6,810,000 $148,043 $1,888 4.29%
    10 Year 42 $2,560,000 $60,952 $978 5.98%
    Other 7 $1,045,000 $149,286 $1,694 5.27%
    5 Year 4 $120,000 $30,000 $776 5.81%
    1 Year 3 $285,000 $95,000 $1,399 5.08%

    For 2022, The Friendship State Bank's most frequently cited loan duration was 30 Year, with 131 originations. The 2nd most popular length was 20 Year, with 96 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 253 $35,675,000 $141,008
    $1k-2k 26 $4,750,000 $182,692
    $2k-3k 11 $2,165,000 $196,818
    $3k-4k 2 $260,000 $130,000
    $4k-5k 2 $470,000 $235,000
    $5k+ 2 $440,000 $220,000

    The Friendship State Bank's average total fees were $2,152, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 253 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 120 $20,630,000 $171,917
    5-6% 81 $12,405,000 $153,148
    6-7% 47 $4,705,000 $100,106
    3-4% 44 $7,080,000 $160,909
    7-8% 19 $1,425,000 $75,000
    2.5-3% 8 $1,430,000 $178,750
    <2.5% 6 $960,000 $160,000
    Over 8% 4 $270,000 $67,500

    During 2022, The Friendship State Bank's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 4-5%, with 120 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 126 $7,680,000 $60,952 $1,414 5.54%
    $100k-200k 123 $17,525,000 $142,480 $1,914 4.93%
    $200k-400k 73 $20,035,000 $274,452 $2,329 4.61%
    $400k-600k 4 $1,810,000 $452,500 $2,054 4.81%
    $600k-1MM 3 $1,855,000 $618,333 $3,581 5.00%

    2022 saw The Friendship State Bank place emphasis on $100,000 or less loans with 126 originations, totaling $7,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 82 $7,470,000 $91,098 $1,718 5.16%
    $50k-75k 79 $10,585,000 $133,987 $1,900 5.12%
    $100k-150k 63 $11,335,000 $179,921 $1,811 5.24%
    $75k-100k 60 $9,830,000 $163,833 $1,993 4.98%
    $150k-250k 22 $3,910,000 $177,727 $1,823 4.91%
    $250k+ 5 $2,525,000 $505,000 $2,186 4.25%

    The Friendship State Bank lent most frequently to those with incomes in the $50k or less range, with 82 originations. The second most popular income band? $50k-75k, with 79 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 112 $14,690,000 $131,161 $1,802 5.04%
    30-36% 63 $10,445,000 $165,794 $1,818 5.20%
    <20% 41 $4,465,000 $108,902 $1,755 5.10%
    36% 11 $1,665,000 $151,364 $1,318 5.41%
    39% 10 $1,680,000 $168,000 $2,215 4.94%
    41% 8 $1,490,000 $186,250 $1,897 5.58%
    37% 7 $1,165,000 $166,429 $1,818 4.91%
    38% 5 $555,000 $111,000 $1,475 5.40%
    40% 5 $855,000 $171,000 $3,263 4.50%
    42% 4 $510,000 $127,500 $1,832 4.94%
    44% 3 $515,000 $171,667 $2,672 3.21%
    43% 2 $470,000 $235,000 $2,594 4.50%
    46% 2 $390,000 $195,000 $1,697 4.13%
    49% 1 $255,000 $255,000 $1,700 3.50%
    50-60% 1 $205,000 $205,000 $1,717 6.25%
    >60% 1 $85,000 $85,000 $1,246 5.75%

    The Friendship State Bank lent most frequently to those with DTI ratios of 20-30%, with 112 originations. The next most common DTI ratio? 30-36%, with 63 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 317 $46,585,000 $146,956 $1,830 5.11%
    Not applicable 6 $1,220,000 $203,333 $0 4.75%
    Not provided 6 $1,100,000 $183,333 $1,768 4.42%

    Approval Rates

    Total approvals of all applications
    84.48%

    The Friendship State Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.11%

    The Friendship State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 329 $48,905,000 $148,647

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    329 $48,905,000 $148,647

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 49 $4,165,000 $85,000 $1,463 5.30%
    40-60% 53 $7,245,000 $136,698 $1,764 4.98%
    60-80% 140 $26,020,000 $185,857 $2,078 4.91%
    80-100% 60 $10,350,000 $172,500 $2,060 4.89%
    Over 100% 1 $115,000 $115,000 $1,757 4.50%
    Under 20% 26 $1,010,000 $38,846 $877 6.45%