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 markets by origination volume include: Colorado Springs, Chicago, Des Moines, Iowa City, and Cedar Rapids among others. We have data for 7 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 an above average pick rate when compared to similar lenders.
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Originations
38Origination Dollar Volume (All Markets)
$4,950,000Top 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 | $1,510,000 | $75,500 | $0 | 0.00% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $1,115,000 | $1,115,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $870,000 | $435,000 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 5 | $485,000 | $97,000 | $0 | 0.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 4 | $440,000 | $110,000 | $0 | 0.00% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 5 | $345,000 | $69,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 38 | $4,950,000 | $130,263 | $0 | 0.00% |
For 2019, Grinnell State Bank's most frequently originated type of loan was Conventional, with 38 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 17 | $3,115,000 | $183,235 | $0 | 0.00% |
| Refi | 15 | $1,725,000 | $115,000 | $0 | 0.00% |
| Home Improvement | 6 | $110,000 | $18,333 | $0 | 0.00% |
For 2019, Grinnell State Bank's most frequently cited loan purpose was Home Purchase, with 17 originations. The 2nd most popular reason was Refi, with 15 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 38 | $4,950,000 | $130,263 | $0 | 0.00% |
For 2019, Grinnell State Bank's most frequently cited loan duration was Other, with 38 originations.
Loan Sizing
2019 saw Grinnell State Bank place emphasis on $100,000 or less loans with 23 originations, totaling $945,000 in origination value.
Applicant Income
Grinnell State Bank lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $50k or less, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 38 | $4,950,000 | $130,263 | $0 | 0.00% |
Grinnell State Bank lent most frequently to those with DTI ratios of Exempt%, with 38 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 17 | $3,285,000 | $193,235 | $0 | 0.00% |
| White | 21 | $1,665,000 | $79,286 | $0 | 0.00% |
Approval Rates
Total approvals of all applications95.24%
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 origination94.74%
Grinnell State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 38 | $4,950,000 | $130,263 |