Grinnell State Bank Mortgage Rates, Fees & Info
Johnston, IALEI: 254900826Z45GD791J96
Tax ID: 42-0286590
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Mortgage Data
Review & Overview
Grinnell State Bank is a smaller bank specializing in Home Purchase loans. Grinnell State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Colorado Springs, Des Moines, Iowa City, Waterloo, and Cedar Rapids among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Grinnell State Bank 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.
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Originations
28Origination Dollar Volume (All Markets)
$20,880,000Top 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 |
|---|---|---|---|---|---|
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $15,005,000 | $15,005,000 | $0 | 0.00% |
| Outside of Metro Areas | 13 | $2,805,000 | $215,769 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 6 | $1,810,000 | $301,667 | $0 | 0.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 6 | $1,010,000 | $168,333 | $0 | 0.00% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 28 | $20,880,000 | $745,714 | $0 | 0.00% |
For 2023, Grinnell State Bank's most frequently originated type of loan was Conventional, with 28 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 20 | $20,210,000 | $1,010,500 | $0 | 0.00% |
| Refi | 5 | $515,000 | $103,000 | $0 | 0.00% |
| Home Improvement | 3 | $155,000 | $51,667 | $0 | 0.00% |
For 2023, Grinnell State Bank's most frequently cited loan purpose was Home Purchase, with 20 originations. The 2nd most popular reason was Refi, with 5 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 28 | $20,880,000 | $745,714 | $0 | 0.00% |
For 2023, Grinnell State Bank's most frequently cited loan duration was Other, with 28 originations.
Loan Sizing
2023 saw Grinnell State Bank place emphasis on $100k-200k loans with 8 originations, totaling $1,180,000 in origination value.
Applicant Income
Grinnell State Bank lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $150k-250k, with 4 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 28 | $20,880,000 | $745,714 | $0 | 0.00% |
Grinnell State Bank lent most frequently to those with DTI ratios of Exempt%, with 28 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 7 | $15,855,000 | $2,265,000 | $0 | 0.00% |
| White | 21 | $5,025,000 | $239,286 | $0 | 0.00% |
Approval Rates
Total approvals of all applications91.18%
Grinnell State Bank has an average approval rate.
Pick Rate
Approvals leading to origination89.29%
Grinnell State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 28 | $20,880,000 | $745,714 |