Grinnell State Bank Mortgage Rates, Fees & Info

Johnston, IA

LEI: 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

30

Origination Dollar Volume (All Markets)

$3,680,000

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 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%
Grinnell State Bank's top markets include Des Moines and Iowa City among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • 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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 15 $925,000 $61,667 $0 0.00%
    $100k-200k 11 $1,635,000 $148,636 $0 0.00%
    $200k-400k 4 $1,120,000 $280,000 $0 0.00%

    2018 saw Grinnell State Bank place emphasis on $100,000 or less loans with 15 originations, totaling $925,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 5 $385,000 $77,000 $0 0.00%
    $50k or less 3 $185,000 $61,667 $0 0.00%
    $75k-100k 2 $240,000 $120,000 $0 0.00%
    $100k-150k 1 $155,000 $155,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 24 $2,940,000 $122,500 $0 0.00%
    Not applicable 5 $535,000 $107,000 $0 0.00%
    Asian 1 $205,000 $205,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.12%

    Grinnell State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.33%

    Grinnell State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 30 $3,680,000 $122,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $175,000 $175,000
    Single Family (1-4 Units):Site-Built 29 $3,505,000 $120,862