State Bank Of Newburg Mortgage Rates, Fees & Info

Newburg, WI

LEI: 254900KSSD1QWXBEPB68

Tax ID: 39-0634390

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
  • Complaints
  • 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

    State Bank Of Newburg is a smaller bank specializing in Home Purchase loans. State Bank Of Newburg has a high proportion of conventional loans. State Bank Of Newburg has a high proportion of conventional loans. Their top (well, only) market is Milwaukee.

    State Bank Of Newburg 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

    86

    Origination Dollar Volume (All Markets)

    $11,160,000

    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
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 67 $9,385,000 $140,075 $857 5.25%
    Outside of Metro Areas 19 $1,775,000 $93,421 $752 5.75%
    State Bank Of Newburg's top markets include and Milwaukee among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 53 $6,725,000 $126,887 $0 0.00%
    Conventional 33 $4,435,000 $134,394 $832 5.39%

    For 2018, State Bank Of Newburg's most frequently originated type of loan was Conventional, with 53 originations. Their 2nd most popular type was Conventional, with 33 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 53 $8,355,000 $157,642 $1,004 5.31%
    Other 11 $455,000 $41,364 $646 5.42%
    Refi 9 $1,195,000 $132,778 $1,050 5.12%
    Home Improvement 8 $280,000 $35,000 $0 5.45%
    Cash Out Refi 5 $875,000 $175,000 $715 6.08%

    For 2018, State Bank Of Newburg's most frequently cited loan purpose was Home Purchase, with 53 originations. The 2nd most popular reason was Other, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 67 $8,245,000 $123,060 $764 5.53%
    5 Year 13 $1,885,000 $145,000 $0 5.46%
    1 Year 6 $1,030,000 $171,667 $1,053 4.88%

    For 2018, State Bank Of Newburg's most frequently cited loan duration was Other, with 67 originations. The 2nd most popular length was 5 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 17 $2,285,000 $134,412

    State Bank Of Newburg's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 17 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 24 $2,510,000 $104,583
    4-5% 4 $770,000 $192,500
    3-4% 3 $755,000 $251,667
    6-7% 2 $400,000 $200,000

    During 2018, State Bank Of Newburg's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 24 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 44 $2,060,000 $46,818 $629 5.73%
    $100k-200k 28 $3,930,000 $140,357 $993 5.00%
    $200k-400k 11 $2,925,000 $265,909 $1,054 5.48%
    $400k-600k 2 $850,000 $425,000 $0 4.00%
    $1MM+ 1 $1,395,000 $1,395,000 $0 0.00%

    2018 saw State Bank Of Newburg place emphasis on $100,000 or less loans with 44 originations, totaling $2,060,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 33 $3,415,000 $103,485 $859 5.15%
    $50k-75k 11 $1,145,000 $104,091 $771 5.96%
    $100k-150k 10 $1,140,000 $114,000 $805 5.63%
    $150k-250k 5 $355,000 $71,000 $0 5.75%
    $75k-100k 5 $575,000 $115,000 $753 5.45%
    $250k+ 2 $210,000 $105,000 $1,000 5.55%

    State Bank Of Newburg lent most frequently to those with incomes in the $50k or less range, with 33 originations. The second most popular income band? $50k-75k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 53 $6,725,000 $126,887 $0 0.00%
    30-36% 5 $485,000 $97,000 $787 5.15%
    20-30% 4 $730,000 $182,500 $870 5.41%
    >60% 4 $710,000 $177,500 $970 5.36%
    44% 1 $25,000 $25,000 $155 6.55%
    43% 1 $145,000 $145,000 $1,070 5.80%
    <20% 1 $25,000 $25,000 $555 5.80%
    50-60% 1 $165,000 $165,000 $1,070 3.75%

    State Bank Of Newburg lent most frequently to those with DTI ratios of Exempt%, with 53 originations. The next most common DTI ratio? 30-36%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 63 $6,515,000 $103,413 $832 5.38%
    Not applicable 20 $4,320,000 $216,000 $0 5.41%
    Not provided 3 $325,000 $108,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.33%

    State Bank Of Newburg has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.21%

    State Bank Of Newburg has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 53 $6,725,000 $126,887
    NA 33 $4,435,000 $134,394

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $1,395,000 $1,395,000
    Single Family (1-4 Units):Manufactured 3 $245,000 $81,667
    Single Family (1-4 Units):Site-Built 82 $9,520,000 $116,098

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $200,000 $50,000 $654 5.54%
    40-60% 2 $520,000 $260,000 $956 5.96%
    60-80% 11 $1,325,000 $120,455 $1,098 5.43%
    80-100% 10 $1,730,000 $173,000 $972 5.08%
    Over 100% 1 $445,000 $445,000 $0 4.00%
    Under 20% 5 $215,000 $43,000 $579 5.84%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    STATE FARM BANK, FSB Conventional home mortgage Closing on a mortgage 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Struggling to pay mortgage 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Trouble during payment process 6 50.0%
    STATE FARM BANK, FSB Home equity loan or line of credit (HELOC) Trouble during payment process 2 16.7%
    STATE FARM BANK, FSB Other type of mortgage Trouble during payment process 2 16.7%