Wellington State Bank Mortgage Rates, Fees & Info

Littlefield, TX

LEI: 2549008DKNX6KPDOUX53

Tax ID: 75-0644150

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Wellington State Bank is a smaller bank specializing in Home Purchase loans. Wellington State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lubbock, Dallas, and Ruidoso 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 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.

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    Originations

    33

    Origination Dollar Volume (All Markets)

    $5,075,000

    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
    LUBBOCK, TX (FHA|USDA|VA) 17 $3,285,000 $193,235 $0 6.13%
    Outside of Metro Areas 14 $840,000 $60,000 $0 6.46%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $555,000 $555,000 $0 7.05%
    Ruidoso, NM (FHA|USDA|VA) 1 $395,000 $395,000 $0 5.25%
    Wellington State Bank's top markets include Lubbock, Dallas, and Ruidoso among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 33 $5,075,000 $153,788 $0 6.27%

    For 2018, Wellington 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 22 $4,160,000 $189,091 $0 6.32%
    Refi 9 $815,000 $90,556 $0 6.11%
    Home Improvement 1 $65,000 $65,000 $0 6.25%
    Other 1 $35,000 $35,000 $0 6.75%

    For 2018, Wellington State Bank's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 12 $1,200,000 $100,000 $0 6.28%
    20 Year 9 $1,595,000 $177,222 $0 6.40%
    Other 8 $2,140,000 $267,500 $0 5.87%
    10 Year 2 $50,000 $25,000 $0 6.80%
    5 Year 2 $90,000 $45,000 $0 6.75%

    For 2018, Wellington State Bank's most frequently cited loan duration was 15 Year, with 12 originations. The 2nd most popular length was 20 Year, with 9 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 14 $2,760,000 $197,143
    6-7% 14 $1,510,000 $107,857
    7-8% 4 $760,000 $190,000
    4-5% 1 $45,000 $45,000

    During 2018, Wellington State Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 14 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 23 $1,525,000 $66,304 $0 6.29%
    $100k-200k 6 $920,000 $153,333 $0 6.34%
    $200k-400k 2 $690,000 $345,000 $0 5.95%
    $1MM+ 1 $1,385,000 $1,385,000 $0 5.25%
    $400k-600k 1 $555,000 $555,000 $0 7.05%

    2018 saw Wellington State Bank place emphasis on $100,000 or less loans with 23 originations, totaling $1,525,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 6 $260,000 $43,333 $0 6.27%
    $250k+ 4 $490,000 $122,500 $0 6.25%
    $50k-75k 4 $240,000 $60,000 $0 6.69%
    $100k-150k 2 $190,000 $95,000 $0 6.35%
    $75k-100k 2 $630,000 $315,000 $0 6.40%
    $150k-250k 1 $95,000 $95,000 $0 7.30%

    Wellington State Bank lent most frequently to those with incomes in the $50k or less range, with 6 originations. The second most popular income band? $250k+, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 9 $625,000 $69,444 $0 6.41%
    <20% 2 $220,000 $110,000 $0 5.88%
    30-36% 2 $170,000 $85,000 $0 6.53%
    37% 1 $85,000 $85,000 $0 6.00%
    42% 1 $35,000 $35,000 $0 7.85%
    43% 1 $35,000 $35,000 $0 5.75%

    Wellington State Bank lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? <20%, with 2 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 14 $3,170,000 $226,429 $0 6.06%
    White 18 $1,350,000 $75,000 $0 6.39%
    Asian 1 $555,000 $555,000 $0 7.05%

    Approval Rates

    Total approvals of all applications
    76.36%

    Wellington State Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    72.73%

    Wellington State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 33 $5,075,000 $153,788

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $1,385,000 $1,385,000
    Single Family (1-4 Units):Manufactured 2 $170,000 $85,000
    Single Family (1-4 Units):Site-Built 30 $3,520,000 $117,333

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $45,000 $45,000 $0 4.13%
    40-60% 5 $1,585,000 $317,000 $0 6.58%
    60-80% 11 $1,145,000 $104,091 $0 6.39%
    80-100% 16 $2,300,000 $143,750 $0 6.23%