Fidelity Bank Mortgage Rates, Fees & Info

West Des Moines, IA

LEI: 254900ALCPGGRYFG8I88

Tax ID: 42-0166023

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 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 Pella 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 an above average pick rate when compared to similar lenders. Fidelity Bank is typically a low 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.53% 12/16/24
    30 Year Conventional Refi 6.31% 12/16/24
    30 Year Cash-out Refi 6.60% 12/16/24
    30 Year FHA Purchase 7.03% 12/16/24
    30 Year FHA Refi 6.27% 12/16/24
    30 Year VA Purchase 6.18% 12/16/24
    30 Year USDA Purchase 6.57% 12/16/24
    15 Year Conventional Purchase 5.80% 12/16/24
    15 Year Conventional Refi 6.03% 12/16/24
    15 Year Cash-out Refi 6.03% 12/16/24
    15 Year VA Purchase 6.40% 12/16/24
    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.

    Fidelity Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Fidelity Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    954

    Origination Dollar Volume (All Markets)

    $211,760,000

    Employee count

    48 Show all (7) awards

    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) 685 $136,775,000 $199,672 $3,471 4.60%
    Outside of Metro Areas 255 $72,525,000 $284,412 $4,389 4.40%
    AMES, IA (FHA|USDA|VA) 13 $2,275,000 $175,000 $2,547 4.67%
    Pella, IA (FHA|USDA|VA) 1 $185,000 $185,000 $2,825 5.50%
    Fidelity Bank's top markets include Des Moines, Ames, and Pella among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Virginia (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.

    Charter Bank
    Similarity Rank: 36
    Raccoon Valley Bank
    Similarity Rank: 96
    Guthrie County State Bank
    Similarity Rank: 166
    Community Choice Credit Union
    Similarity Rank: 187
    Collins Community Credit Union
    Similarity Rank: 273
    Luana Savings Bank
    Similarity Rank: 289
    GREATER IOWA CREDIT UNION
    Similarity Rank: 374
    Fidelity Bank
    Similarity Rank: 428
    Premier Credit Union
    Similarity Rank: 450
    American Trust & Savings Bank
    Similarity Rank: 486

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 596 $127,380,000 $213,725 $2,715 4.65%
    FHA 189 $33,805,000 $178,862 $5,272 4.56%
    VA 151 $47,385,000 $313,808 $5,474 4.13%
    USDA 18 $3,190,000 $177,222 $3,831 4.37%

    For 2018, Fidelity Bank's most frequently originated type of loan was Conventional, with 596 originations. Their 2nd most popular type was FHA, with 189 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 782 $172,690,000 $220,831 $3,900 4.55%
    Refi 85 $19,655,000 $231,235 $2,370 4.54%
    Cash Out Refi 85 $19,115,000 $224,882 $3,321 4.54%
    Home Improvement 1 $285,000 $285,000 $2,631 5.25%
    Other 1 $15,000 $15,000 $440 6.50%

    For 2018, Fidelity Bank's most frequently cited loan purpose was Home Purchase, with 782 originations. The 2nd most popular reason was Refi, with 85 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 856 $195,780,000 $228,715 $3,822 4.53%
    15 Year 51 $9,165,000 $179,706 $2,642 4.07%
    Other 33 $4,955,000 $150,152 $1,958 5.67%
    20 Year 8 $1,010,000 $126,250 $2,371 4.36%
    10 Year 3 $305,000 $101,667 $1,959 4.44%
    1 Year 2 $490,000 $245,000 $0 6.00%
    3 Year 1 $55,000 $55,000 $0 6.25%

    For 2018, Fidelity Bank's most frequently cited loan duration was 30 Year, with 856 originations. The 2nd most popular length was 15 Year, with 51 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 778 $173,660,000 $223,213
    $1k-2k 108 $19,840,000 $183,704
    $2k-3k 28 $8,240,000 $294,286
    $3k-4k 13 $3,275,000 $251,923
    $4k-5k 8 $2,830,000 $353,750
    $5k+ 3 $1,865,000 $621,667

    Fidelity Bank's average total fees were $3,822, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 778 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 703 $150,825,000 $214,545
    3-4% 150 $44,860,000 $299,067
    5-6% 88 $15,070,000 $171,250
    6-7% 11 $995,000 $90,455

    During 2018, Fidelity Bank's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 4-5%, with 703 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 389 $108,615,000 $279,216 $4,224 4.45%
    $100k-200k 374 $55,900,000 $149,465 $3,191 4.62%
    $100,000 or less 110 $8,150,000 $74,091 $2,458 4.83%
    $400k-600k 69 $30,935,000 $448,333 $3,947 4.37%
    $600k-1MM 12 $8,160,000 $680,000 $11,453 3.97%

    2018 saw Fidelity Bank place emphasis on $200k-400k loans with 389 originations, totaling $108,615,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 235 $44,405,000 $188,957 $3,789 4.53%
    $50k or less 208 $28,980,000 $139,327 $3,000 4.58%
    $100k-150k 195 $56,265,000 $288,538 $4,333 4.47%
    $75k-100k 167 $38,875,000 $232,784 $3,789 4.58%
    $150k-250k 96 $29,600,000 $308,333 $3,886 4.43%
    $250k+ 41 $11,795,000 $287,683 $2,941 4.67%

    Fidelity Bank lent most frequently to those with incomes in the $50k-75k range, with 235 originations. The second most popular income band? $50k or less, with 208 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 153 $31,775,000 $207,680 $3,073 4.56%
    30-36% 149 $32,395,000 $217,416 $3,374 4.50%
    50-60% 99 $25,885,000 $261,465 $5,242 4.36%
    <20% 48 $10,920,000 $227,500 $2,973 4.48%
    39% 44 $9,940,000 $225,909 $4,560 4.53%
    42% 42 $9,360,000 $222,857 $3,837 4.53%
    37% 40 $7,670,000 $191,750 $3,363 4.71%
    41% 38 $7,920,000 $208,421 $4,694 4.55%
    40% 36 $7,980,000 $221,667 $4,116 4.57%
    47% 35 $7,205,000 $205,857 $4,277 4.52%
    48% 34 $6,030,000 $177,353 $3,519 4.69%
    44% 34 $7,900,000 $232,353 $3,866 4.57%
    43% 33 $7,065,000 $214,091 $3,340 4.67%
    49% 32 $8,330,000 $260,313 $3,795 4.63%
    38% 32 $6,950,000 $217,188 $3,304 4.53%
    46% 31 $7,105,000 $229,194 $3,046 4.64%
    36% 26 $5,460,000 $210,000 $3,840 4.41%
    45% 21 $4,615,000 $219,762 $3,257 4.64%
    >60% 6 $2,180,000 $363,333 $4,718 4.50%

    Fidelity Bank lent most frequently to those with DTI ratios of 20-30%, with 153 originations. The next most common DTI ratio? 30-36%, with 149 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 746 $161,960,000 $217,105 $3,677 4.57%
    Not provided 147 $37,715,000 $256,565 $3,827 4.37%
    Asian 28 $5,640,000 $201,429 $3,182 4.58%
    Black 17 $3,855,000 $226,765 $4,604 4.56%
    American Indian 6 $1,530,000 $255,000 $3,975 4.56%
    Not applicable 8 $850,000 $106,250 $0 5.78%
    Other Asian 1 $105,000 $105,000 $3,782 4.63%
    Asian Indian 1 $105,000 $105,000 $3,071 4.50%

    Approval Rates

    Total approvals of all applications
    98.85%

    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
    91.93%

    Fidelity Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 954 $211,760,000 $221,971

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $1,060,000 $265,000
    Single Family (1-4 Units):Manufactured 5 $615,000 $123,000
    Single Family (1-4 Units):Site-Built 945 $210,085,000 $222,312

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $2,040,000 $145,714 $2,015 4.60%
    40-60% 50 $9,700,000 $194,000 $2,267 4.37%
    60-80% 237 $51,395,000 $216,857 $2,566 4.70%
    80-100% 618 $138,320,000 $223,819 $3,961 4.51%
    Over 100% 32 $10,180,000 $318,125 $10,318 4.35%
    Under 20% 3 $125,000 $41,667 $533 5.00%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Fidelity Direct Mortgage, LLC Conventional home mortgage Closing on a mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    FIDELITY BANK 102 National Drive Huxley, IA 50124 Full Service B&M $33,611
    FIDELITY BANK 177 South Jordan Creek Parkway West Des Moines, IA 50266 Full Service B&M $15,111
    FIDELITY BANK 205 Water Street Cambridge, IA 50046 Full Service B&M $6,125

    For 2018, Fidelity Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $3,681
    Net interest income $2,881
    Total noninterest income $4,549
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $34
    Trading account gains and fees $0
    Additional Noninterest Income $4,515
    Pre-tax net operating income $-260
    Securities gains (or losses, -) $0
    Income before extraordinary items $-248
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $-248
    Minority interest net income $0
    Net income $-248
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $-248

    Fidelity Bank's gross interest income from loans was $3,681,000.
    Fidelity Bank's net interest income from loans was $2,881,000.
    Fidelity Bank's fee based income from loans was $34,000.
    Fidelity Bank's net income from loans was $-248,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $800
    Provision for credit losses $0
    Total noninterest expense $7,690
    Salaries and employee benefits $5,809
    Premises and equipment expense $518
    Additional noninterest expense $1,363
    Applicable income taxes $-12
    Net charge-offs $0
    Cash dividends $500

    Fidelity Bank's interest expense for loans was $800,000.
    Fidelity Bank's payroll and benefits expense were $5,809,000.
    Fidelity Bank's property, plant and equipment expenses $518,000.

    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $56,052
    Deposits held in domestic offices $56,052
    Deposits by Individuals, partnerships, and corporations $35,885
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $9,109
    Deposits by Commercial banks and other depository institutions in U.S. $11,058
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $12,732
    Demand deposits $10,844
    Nontransaction accounts $43,320
    Money market deposit accounts (MMDAs) $10,920
    Other savings deposits (excluding MMDAs) $3,971
    Total time deposits $28,429
    Total time and savings deposits $45,208
    Noninterest-bearing deposits $8,284
    Interest-bearing deposits $47,768
    Retail deposits $52,910
    IRAs and Keogh plan accounts $360
    Brokered deposits $750
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $84,253
    Cash & Balances due from depository institutions $3,091
    Interest-bearing balances $1,538
    Total securities $3,467
    Federal funds sold & reverse repurchase $0
    Net loans and leases $69,855
    Loan and leases loss allowance $680
    Trading account assets $0
    Bank premises and fixed assets $3,072
    Other real estate owned $20
    Goodwill and other intangibles $1,690
    All other assets $3,058

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $84,253
    Total Liabilities $74,731
    Total deposits $56,052
    Interest-bearing deposits $47,768
    Deposits held in domestic offices $56,052
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $6,328
    Trading liabilities $0
    Other borrowed funds $11,626
    Subordinated debt $0
    All other liabilities $725

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $69,855
    Loan and leases loss allowance $680
    Total loans and leases (domestic) $70,535
    All real estate loans $69,106
    Real estate loans in domestic offices $69,106
    Construction and development loans $21,556
    Residential 1-4 family construction $19,189
    Other construction, all land development and other land $2,367
    Loans secured by nonfarm nonresidential properties $3,678
    Nonfarm nonresidential secured by owner-occupied properties $1,254
    Commercial real estate & other non-farm, non-residential $2,424
    Multifamily residential real estate $1,486
    1-4 family residential loans $41,223
    Farmland loans $1,163
    Loans held in foreign offices $0
    Farm loans $779
    Commercial and industrial loans $425
    To non-U.S. addressees $0
    Loans to individuals $192
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $75
    Other loans to individuals $117
    All other loans & leases $33
    Loans to foreign governments and official institutions $0
    Other loans $33
    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 $69,855,000 of loans outstanding in 2018. $69,106,000 of loans were in real estate loans. $21,556,000 of loans were in development loans. $1,486,000 of loans were in multifamily mortgage loans. $41,223,000 of loans were in 1-4 family mortgage loans. $779,000 of loans were in farm loans. $0 of loans were in credit card loans. $75,000 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 12 $2,584 $215,333
    Nonfarm, nonresidential loans - <$100k 3 $79 $26,333
    Nonfarm, nonresidential loans - $100-250k 3 $357 $119,000
    Nonfarm, nonresidential loans - $250k-1MM 6 $2,148 $358,000
    Commercial & Industrial, US addressed loans - <$1MM 6 $425 $70,833
    Commercial & Industrial, US addressed loans - <$100k 2 $55 $27,500
    Commercial & Industrial, US addressed loans - $100-250k 3 $196 $65,333
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $174 $174,000
    Farmland loans - <$1MM 7 $1,163 $166,143
    Farmland loans - <$100k 2 $109 $54,500
    Farmland loans - $100-250k 2 $95 $47,500
    Farmland loans - $250k-1MM 3 $959 $319,667
    Agriculture operations loans - <$1MM 4 $179 $44,750
    Agriculture operations loans - <$100k 4 $179 $44,750