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: Des Moines, Palm Bay, Marshalltown, Santa Fe, and Waterloo among others. We have data for 9 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
33Origination Dollar Volume (All Markets)
$7,405,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 18 | $3,630,000 | $201,667 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 5 | $1,065,000 | $213,000 | $0 | 0.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $0 | 0.00% |
| Marshalltown, IA (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $0 | 0.00% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 33 | $7,405,000 | $224,394 | $0 | 0.00% |
For 2024, Grinnell State Bank's most frequently originated type of loan was Conventional, with 33 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 21 | $5,375,000 | $255,952 | $0 | 0.00% |
| Home Improvement | 6 | $880,000 | $146,667 | $0 | 0.00% |
| Refi | 6 | $1,150,000 | $191,667 | $0 | 0.00% |
For 2024, Grinnell State Bank's most frequently cited loan purpose was Home Purchase, with 21 originations. The 2nd most popular reason was Home Improvement, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 33 | $7,405,000 | $224,394 | $0 | 0.00% |
For 2024, Grinnell State Bank's most frequently cited loan duration was Other, with 33 originations.
Loan Sizing
2024 saw Grinnell State Bank place emphasis on $100k-200k loans with 12 originations, totaling $1,590,000 in origination value.
Applicant Income
Grinnell State Bank lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $50k-75k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 33 | $7,405,000 | $224,394 | $0 | 0.00% |
Grinnell State Bank lent most frequently to those with DTI ratios of Exempt%, with 33 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Grinnell State 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 origination78.79%
Grinnell State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 33 | $7,405,000 | $224,394 |