Wellington State Bank Mortgage Rates, Fees & Info
Littlefield, TXLEI: 2549008DKNX6KPDOUX53
Tax ID: 75-0644150
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Wellington State Bank is a smaller bank specializing in Home Purchase and Refi loans. Wellington State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lubbock, Stephenville, and Granbury among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Wellington 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.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
24Origination Dollar Volume (All Markets)
$2,610,000Top 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 | 14 | $1,190,000 | $85,000 | $0 | 8.40% |
| LUBBOCK, TX (FHA|USDA|VA) | 6 | $780,000 | $130,000 | $0 | 8.86% |
| Stephenville, TX (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $0 | 7.88% |
| Granbury, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 7.80% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 24 | $2,610,000 | $108,750 | $0 | 8.42% |
For 2023, Wellington State Bank's most frequently originated type of loan was Conventional, with 24 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 12 | $1,300,000 | $108,333 | $0 | 8.67% |
| Refi | 10 | $1,090,000 | $109,000 | $0 | 8.13% |
| Home Improvement | 2 | $220,000 | $110,000 | $0 | 8.45% |
For 2023, Wellington State Bank's most frequently cited loan purpose was Home Purchase, with 12 originations. The 2nd most popular reason was Refi, with 10 originations.
Loan Duration/Length
For 2023, Wellington State Bank's most frequently cited loan duration was 20 Year, with 11 originations. The 2nd most popular length was Other, with 8 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 19 | $2,145,000 | $112,895 |
| 7-8% | 3 | $345,000 | $115,000 |
| 6-7% | 2 | $120,000 | $60,000 |
During 2023, Wellington State Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 19 originations.
Loan Sizing
2023 saw Wellington State Bank place emphasis on $100,000 or less loans with 13 originations, totaling $925,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $75k-100k | 4 | $250,000 | $62,500 | $0 | 7.86% |
| $100k-150k | 2 | $140,000 | $70,000 | $0 | 9.25% |
| $250k+ | 2 | $360,000 | $180,000 | $0 | 8.75% |
Wellington State Bank lent most frequently to those with incomes in the $75k-100k range, with 4 originations. The second most popular income band? $100k-150k, with 2 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 38% | 2 | $120,000 | $60,000 | $0 | 6.75% |
| 20-30% | 1 | $45,000 | $45,000 | $0 | 9.25% |
Wellington State Bank lent most frequently to those with DTI ratios of 38%, with 2 originations. The next most common DTI ratio? 20-30%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 16 | $1,860,000 | $116,250 | $0 | 8.42% |
| White | 8 | $750,000 | $93,750 | $0 | 8.43% |
Approval Rates
Total approvals of all applications100.00%
Wellington 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 origination87.50%
Wellington State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 24 | $2,610,000 | $108,750 |