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 and Refi loans. Grinnell State Bank has a high proportion of conventional loans. Their top two markets are Des Moines and Iowa City .Grinnell State 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.
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Originations
30Origination Dollar Volume (All Markets)
$3,680,000Top 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 | 20 | $2,250,000 | $112,500 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 6 | $800,000 | $133,333 | $0 | 0.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 30 | $3,680,000 | $122,667 | $0 | 0.00% |
For 2018, Grinnell State Bank's most frequently originated type of loan was Conventional, with 30 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 20 | $2,570,000 | $128,500 | $0 | 0.00% |
| Refi | 8 | $860,000 | $107,500 | $0 | 0.00% |
| Home Improvement | 2 | $250,000 | $125,000 | $0 | 0.00% |
For 2018, Grinnell State Bank's most frequently cited loan purpose was Home Purchase, with 20 originations. The 2nd most popular reason was Refi, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 30 | $3,680,000 | $122,667 | $0 | 0.00% |
For 2018, Grinnell State Bank's most frequently cited loan duration was Other, with 30 originations.
Loan Sizing
2018 saw Grinnell State Bank place emphasis on $100,000 or less loans with 15 originations, totaling $925,000 in origination value.
Applicant Income
Grinnell State Bank lent most frequently to those with incomes in the $50k-75k range, with 5 originations. The second most popular income band? $50k or less, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 30 | $3,680,000 | $122,667 | $0 | 0.00% |
Grinnell State Bank lent most frequently to those with DTI ratios of Exempt%, with 30 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.12%
Grinnell State Bank has an average approval rate.
Pick Rate
Approvals leading to origination93.33%
Grinnell State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 30 | $3,680,000 | $122,667 |