South Story Bank & Trust Mortgage Rates, Fees & Info
SLATER, IALEI: 254900DJ8WC0BQHYR275
Tax ID: 42-0739240
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Mortgage Data
Review & Overview
South Story Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. South Story Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ames, Minneapolis, Phoenix, and Kansas City among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)South Story Bank & Trust 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.
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Originations
79Origination Dollar Volume (All Markets)
$26,565,000Top 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 |
|---|---|---|---|---|---|
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 23 | $8,305,000 | $361,087 | $0 | 0.00% |
| AMES, IA (FHA|USDA|VA) | 32 | $7,530,000 | $235,313 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 15 | $6,305,000 | $420,333 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $945,000 | $945,000 | $0 | 0.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $650,000 | $325,000 | $0 | 0.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Fairmont, MN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 79 | $26,565,000 | $336,266 | $0 | 0.00% |
For 2023, South Story Bank & Trust's most frequently originated type of loan was Conventional, with 79 originations.
Loan Reason
For 2023, South Story Bank & Trust's most frequently cited loan purpose was Home Purchase, with 46 originations. The 2nd most popular reason was Refi, with 21 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 79 | $26,565,000 | $336,266 | $0 | 0.00% |
For 2023, South Story Bank & Trust's most frequently cited loan duration was Other, with 79 originations.
Loan Sizing
2023 saw South Story Bank & Trust place emphasis on $200k-400k loans with 27 originations, totaling $7,545,000 in origination value.
Applicant Income
South Story Bank & Trust lent most frequently to those with incomes in the $150k-250k range, with 18 originations. The second most popular income band? $50k-75k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 79 | $26,565,000 | $336,266 | $0 | 0.00% |
South Story Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 79 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
South Story Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination82.28%
South Story Bank & Trust has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 79 | $26,565,000 | $336,266 |