Fidelity Bank Mortgage Rates, Fees & Info

West Des Moines, IA

LEI: 254900ALCPGGRYFG8I88

Tax ID: 42-0166023

5 stars - out of 5 stars, based on 41 reviews

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

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Mortgage Data

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

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Fidelity Bank is a smaller bank specializing in Home Purchase and Refi loans. Fidelity Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Des Moines, Ames, and Kansas City among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Fidelity 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. Fidelity Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.36% 3/19/23
    30 Year Conventional Refi 6.15% 3/19/23
    30 Year Cash-out Refi 6.29% 3/19/23
    30 Year FHA Purchase 6.93% 3/19/23
    30 Year FHA Refi 6.81% 3/19/23
    30 Year VA Purchase 5.94% 3/19/23
    30 Year VA Refi 5.72% 3/19/23
    30 Year USDA Purchase 6.47% 3/19/23
    30 Year USDA Refi 6.43% 3/19/23
    15 Year Conventional Purchase 5.72% 3/19/23
    15 Year Conventional Refi 5.66% 3/19/23
    15 Year Cash-out Refi 5.66% 3/19/23
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    1,684

    Origination Dollar Volume (All Markets)

    $386,340,000

    Employee count

    45 Show all (13) awards

    Relative Rate

    Fidelity Bank's average 30 year fixed mortgage rate was 2.77%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.38%.

    Relative Fees (Closing Costs)

    Fidelity Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,419.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1,391 $312,585,000 $224,720 $3,176 2.75%
    Outside of Metro Areas 253 $65,435,000 $258,636 $3,329 2.66%
    AMES, IA (FHA|USDA|VA) 39 $7,755,000 $198,846 $2,939 2.70%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $565,000 $565,000 $0 5.25%
    Fidelity Bank's top markets include Des Moines, Ames, and Kansas City among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Fidelity Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Bank
    Similarity Rank: 82
    RESIDENTIAL MORTGAGE NETWORK, INC.
    Similarity Rank: 102
    VisionBank of Iowa
    Similarity Rank: 286
    Fidelity Bank
    Similarity Rank: 392
    GREATER IOWA CREDIT UNION
    Similarity Rank: 414
    Raccoon Valley Bank
    Similarity Rank: 540
    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 570
    Community Choice Credit Union
    Similarity Rank: 816
    Serve Credit Union
    Similarity Rank: 896
    Luana Savings Bank
    Similarity Rank: 960

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,323 $305,295,000 $230,760 $2,422 2.79%
    FHA 263 $55,325,000 $210,361 $6,062 2.59%
    VA 80 $23,010,000 $287,625 $5,209 2.39%
    USDA 18 $2,710,000 $150,556 $3,767 2.60%

    For 2021, Fidelity Bank's most frequently originated type of loan was Conventional, with 1,323 originations. Their 2nd most popular type was FHA, with 263 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 957 $224,365,000 $234,446 $3,891 2.81%
    Refi 519 $116,395,000 $224,268 $2,131 2.58%
    Cash Out Refi 199 $43,705,000 $219,623 $2,541 2.80%
    Other 6 $1,220,000 $203,333 $2,839 3.15%
    Home Improvement 3 $655,000 $218,333 $2,351 3.75%

    For 2021, Fidelity Bank's most frequently cited loan purpose was Home Purchase, with 957 originations. The 2nd most popular reason was Refi, with 519 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,401 $329,325,000 $235,064 $3,419 2.77%
    15 Year 175 $35,465,000 $202,657 $2,096 2.23%
    20 Year 50 $11,970,000 $239,400 $2,057 2.54%
    Other 33 $6,025,000 $182,576 $1,403 4.15%
    1 Year 13 $1,845,000 $141,923 $2,666 4.44%
    10 Year 12 $1,710,000 $142,500 $1,901 2.08%

    For 2021, Fidelity Bank's most frequently cited loan duration was 30 Year, with 1,401 originations. The 2nd most popular length was 15 Year, with 175 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,354 $320,040,000 $236,366
    $1k-2k 142 $28,870,000 $203,310
    $2k-3k 43 $12,205,000 $283,837
    $3k-4k 10 $3,190,000 $319,000
    $4k-5k 5 $2,335,000 $467,000
    $5k+ 2 $950,000 $475,000

    Fidelity Bank's average total fees were $3,419, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,354 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 784 $183,790,000 $234,426
    <2.5% 654 $151,400,000 $231,498
    3-4% 203 $44,585,000 $219,631
    4-5% 39 $5,335,000 $136,795
    5-6% 3 $1,125,000 $375,000
    6-7% 1 $105,000 $105,000

    During 2021, Fidelity Bank's average interest rate for loans was 2.77%, while their most frequently originated rate bucket for loans was 2.5-3%, with 784 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 784 $214,860,000 $274,056 $3,482 2.70%
    $100k-200k 680 $104,210,000 $153,250 $2,810 2.75%
    $400k-600k 120 $57,830,000 $481,917 $3,716 2.76%
    $100,000 or less 98 $8,010,000 $81,735 $2,108 2.98%
    $600k-1MM 2 $1,430,000 $715,000 $10,375 2.88%

    2021 saw Fidelity Bank place emphasis on $200k-400k loans with 784 originations, totaling $214,860,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 434 $85,940,000 $198,018 $3,443 2.70%
    $100k-150k 328 $89,020,000 $271,402 $3,076 2.73%
    $50k or less 302 $48,520,000 $160,662 $3,476 2.70%
    $75k-100k 298 $69,130,000 $231,980 $3,289 2.74%
    $150k-250k 210 $62,110,000 $295,762 $2,512 2.73%
    $250k+ 77 $23,685,000 $307,597 $2,673 3.01%

    Fidelity Bank lent most frequently to those with incomes in the $50k-75k range, with 434 originations. The second most popular income band? $100k-150k, with 328 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 373 $87,255,000 $233,928 $2,807 2.70%
    30-36% 289 $66,195,000 $229,048 $3,128 2.80%
    <20% 184 $41,350,000 $224,728 $2,147 2.69%
    50-60% 93 $20,045,000 $215,538 $5,733 2.58%
    38% 70 $15,140,000 $216,286 $2,737 2.79%
    44% 64 $14,310,000 $223,594 $3,605 2.75%
    43% 61 $15,515,000 $254,344 $3,398 2.83%
    41% 61 $13,265,000 $217,459 $3,075 2.78%
    42% 56 $13,350,000 $238,393 $2,893 2.77%
    39% 55 $12,255,000 $222,818 $3,192 2.75%
    37% 55 $12,345,000 $224,455 $3,472 2.76%
    45% 48 $10,660,000 $222,083 $3,677 2.77%
    36% 48 $10,190,000 $212,292 $3,665 2.75%
    49% 41 $10,265,000 $250,366 $4,129 2.80%
    40% 40 $9,360,000 $234,000 $2,801 2.63%
    47% 34 $8,750,000 $257,353 $3,311 2.61%
    48% 34 $8,000,000 $235,294 $3,678 2.72%
    46% 31 $7,115,000 $229,516 $3,614 2.75%
    >60% 4 $830,000 $207,500 $7,702 3.13%

    Fidelity Bank lent most frequently to those with DTI ratios of 20-30%, with 373 originations. The next most common DTI ratio? 30-36%, with 289 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,310 $293,390,000 $223,962 $3,108 2.72%
    Not provided 249 $64,235,000 $257,972 $3,336 2.73%
    Black 52 $12,300,000 $236,538 $4,814 2.77%
    Asian 37 $7,925,000 $214,189 $2,891 2.68%
    Not applicable 15 $2,595,000 $173,000 $0 4.38%
    Asian Indian 6 $2,520,000 $420,000 $4,188 2.54%
    Other Pacific Islander 3 $1,015,000 $338,333 $1,916 3.29%
    American Indian 6 $1,000,000 $166,667 $4,623 2.69%
    Other Asian 3 $615,000 $205,000 $2,553 2.88%
    Filipino 2 $410,000 $205,000 $2,510 2.69%
    Native Hawaiian or Islander 1 $335,000 $335,000 $1,596 2.25%

    Approval Rates

    Total approvals of all applications
    98.98%

    Fidelity 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 origination
    84.44%

    Fidelity Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,684 $386,340,000 $229,418

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,684 $386,340,000 $229,418

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 43 $8,405,000 $195,465 $2,183 2.52%
    40-60% 166 $30,880,000 $186,024 $1,975 2.57%
    60-80% 580 $138,770,000 $239,259 $2,231 2.82%
    80-100% 844 $194,430,000 $230,367 $3,881 2.74%
    Over 100% 19 $6,295,000 $331,316 $11,407 2.53%
    Under 20% 6 $450,000 $75,000 $923 4.15%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Fidelity National Financial, Inc VA mortgage Closing on a mortgage 1 4.5%
    Fidelity National Financial, Inc Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 9.1%
    Fidelity National Financial, Inc Conventional home mortgage Closing on a mortgage 11 50.0%
    Fidelity National Financial, Inc Conventional home mortgage Struggling to pay mortgage 1 4.5%
    Fidelity National Financial, Inc Conventional home mortgage Trouble during payment process 2 9.1%
    Fidelity National Financial, Inc FHA mortgage Closing on a mortgage 2 9.1%
    Fidelity National Financial, Inc Other type of mortgage Closing on a mortgage 1 4.5%
    Fidelity National Financial, Inc Other type of mortgage Struggling to pay mortgage 2 9.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Fidelity Bank 102 National Drive Huxley, IA 50124 Full Service B&M $23,616
    Fidelity Bank 177 South Jordan Creek Parkway West Des Moines, IA 50266 Full Service B&M $25,495
    Fidelity Bank 205 Water Street Cambridge, IA 50046 Full Service B&M $8,556

    For 2021, Fidelity Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $3,333
    Net interest income $2,058
    Total noninterest income $7,905
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $21
    Trading account gains and fees $0
    Additional Noninterest Income $7,884
    Pre-tax net operating income $571
    Securities gains (or losses, -) $0
    Income before extraordinary items $544
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $544
    Minority interest net income $0
    Net income $544
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $544

    Fidelity Bank's gross interest income from loans was $3,333,000.
    Fidelity Bank's net interest income from loans was $2,058,000.
    Fidelity Bank's fee based income from loans was $21,000.
    Fidelity Bank's net income from loans was $544,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,275
    Provision for credit losses $0
    Total noninterest expense $9,392
    Salaries and employee benefits $7,584
    Premises and equipment expense $477
    Additional noninterest expense $1,331
    Applicable income taxes $27
    Net charge-offs $0
    Cash dividends $2,520

    Fidelity Bank's interest expense for loans was $1,275,000.
    Fidelity Bank's payroll and benefits expense were $7,584,000.
    Fidelity Bank's property, plant and equipment expenses $477,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 26.0%
    Credit card loans 0.0%
    Other individual loans 26.0%
    Auto loans 0.0%
    Other consumer loans 26.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $50,276
    Deposits held in domestic offices $50,276
    Deposits by Individuals, partnerships, and corporations $46,393
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $2,887
    Deposits by Commercial banks and other depository institutions in U.S. $996
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $20,297
    Demand deposits $20,297
    Nontransaction accounts $29,979
    Money market deposit accounts (MMDAs) $14,785
    Other savings deposits (excluding MMDAs) $4,954
    Total time deposits $10,240
    Total time and savings deposits $29,979
    Noninterest-bearing deposits $12,948
    Interest-bearing deposits $37,328
    Retail deposits $46,038
    IRAs and Keogh plan accounts $0
    Brokered deposits $3,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $76,273
    Cash & Balances due from depository institutions $8,697
    Interest-bearing balances $6,193
    Total securities $1,533
    Federal funds sold & reverse repurchase $0
    Net loans and leases $58,204
    Loan and leases loss allowance $720
    Trading account assets $0
    Bank premises and fixed assets $2,800
    Other real estate owned $0
    Goodwill and other intangibles $1,690
    All other assets $3,349

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $76,273
    Total Liabilities $64,906
    Total deposits $50,276
    Interest-bearing deposits $37,328
    Deposits held in domestic offices $50,276
    % insured (estimated) $94
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $13,963
    Subordinated debt $0
    All other liabilities $667

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $58,204
    Loan and leases loss allowance $720
    Total loans and leases (domestic) $58,924
    All real estate loans $57,126
    Real estate loans in domestic offices $57,126
    Construction and development loans $19,848
    Residential 1-4 family construction $16,403
    Other construction, all land development and other land $3,445
    Loans secured by nonfarm nonresidential properties $2,685
    Nonfarm nonresidential secured by owner-occupied properties $1,647
    Commercial real estate & other non-farm, non-residential $1,038
    Multifamily residential real estate $793
    1-4 family residential loans $33,427
    Farmland loans $373
    Loans held in foreign offices $0
    Farm loans $485
    Commercial and industrial loans $979
    To non-U.S. addressees $0
    Loans to individuals $332
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $332
    All other loans & leases $2
    Loans to foreign governments and official institutions $0
    Other loans $2
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Fidelity Bank had $58,204,000 of loans outstanding in 2021. $57,126,000 of loans were in real estate loans. $19,848,000 of loans were in development loans. $793,000 of loans were in multifamily mortgage loans. $33,427,000 of loans were in 1-4 family mortgage loans. $485,000 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 11 $2,684 $244,000
    Nonfarm, nonresidential loans - <$100k 2 $167 $83,500
    Nonfarm, nonresidential loans - $100-250k 3 $544 $181,333
    Nonfarm, nonresidential loans - $250k-1MM 6 $1,973 $328,833
    Commercial & Industrial, US addressed loans - <$1MM 9 $979 $108,778
    Commercial & Industrial, US addressed loans - <$100k 3 $78 $26,000
    Commercial & Industrial, US addressed loans - $100-250k 5 $561 $112,200
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $340 $340,000
    Farmland loans - <$1MM 4 $373 $93,250
    Farmland loans - <$100k 2 $95 $47,500
    Farmland loans - $100-250k 2 $278 $139,000
    Agriculture operations loans - <$1MM 2 $115 $57,500
    Agriculture operations loans - <$100k 2 $115 $57,500