Exchange State Bank Mortgage Rates, Fees & Info

Ames, IA

LEI: 254900ORL3AOAHZ46F19

Tax ID: 42-0239000

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

    Exchange State Bank is a smaller bank specializing in Home Purchase and Refi loans. Exchange State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Ames, Des Moines, and Fergus Falls among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Exchange State Bank has an above average approval rate when compared to the average across all 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

    64

    Origination Dollar Volume (All Markets)

    $9,210,000

    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
    AMES, IA (FHA|USDA|VA) 37 $4,045,000 $109,324 $0 0.00%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 8 $2,790,000 $348,750 $0 0.00%
    Outside of Metro Areas 16 $1,640,000 $102,500 $0 0.00%
    Fergus Falls, MN (FHA|USDA|VA) 3 $735,000 $245,000 $0 0.00%
    Exchange State Bank's top markets include Ames, Des Moines, and Fergus Falls among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 64 $9,210,000 $143,906 $0 0.00%

    For 2023, Exchange State Bank's most frequently originated type of loan was Conventional, with 64 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 30 $4,050,000 $135,000 $0 0.00%
    Refi 18 $4,570,000 $253,889 $0 0.00%
    Home Improvement 10 $360,000 $36,000 $0 0.00%
    Other 6 $230,000 $38,333 $0 0.00%

    For 2023, Exchange State Bank's most frequently cited loan purpose was Home Purchase, with 30 originations. The 2nd most popular reason was Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 64 $9,210,000 $143,906 $0 0.00%

    For 2023, Exchange State Bank's most frequently cited loan duration was Other, with 64 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 33 $1,355,000 $41,061 $0 0.00%
    $100k-200k 17 $2,395,000 $140,882 $0 0.00%
    $200k-400k 12 $3,310,000 $275,833 $0 0.00%
    $1MM+ 1 $1,625,000 $1,625,000 $0 0.00%
    $400k-600k 1 $525,000 $525,000 $0 0.00%

    2023 saw Exchange State Bank place emphasis on $100,000 or less loans with 33 originations, totaling $1,355,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 11 $1,505,000 $136,818 $0 0.00%
    $150k-250k 10 $880,000 $88,000 $0 0.00%
    $100k-150k 9 $1,565,000 $173,889 $0 0.00%
    $50k or less 8 $820,000 $102,500 $0 0.00%
    $75k-100k 7 $265,000 $37,857 $0 0.00%
    $250k+ 3 $215,000 $71,667 $0 0.00%

    Exchange State Bank lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $150k-250k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 64 $9,210,000 $143,906 $0 0.00%

    Exchange State Bank lent most frequently to those with DTI ratios of Exempt%, with 64 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 48 $5,250,000 $109,375 $0 0.00%
    Not applicable 16 $3,960,000 $247,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Exchange State 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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 64 $9,210,000 $143,906

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    64 $9,210,000 $143,906