Exchange State Bank Mortgage Rates, Fees & Info

Ames, IA

LEI: 254900ORL3AOAHZ46F19

Tax ID: 42-0239000

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Mortgage Data

Review & Overview

Exchange State Bank is a smaller bank specializing in Refi and Home Purchase loans. Exchange State Bank has a high proportion of conventional loans. Their top two markets are Ames and Des Moines .

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

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Originations

47

Origination Dollar Volume (All Markets)

$4,415,000

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) 25 $2,665,000 $106,600 $0 0.00%
Outside of Metro Areas 17 $1,435,000 $84,412 $0 0.00%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 5 $315,000 $63,000 $0 0.00%
Exchange State Bank's top markets include Ames and Des Moines among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 47 $4,415,000 $93,936 $0 0.00%

    For 2019, Exchange State Bank's most frequently originated type of loan was Conventional, with 47 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 27 $2,045,000 $75,741 $0 0.00%
    Home Purchase 18 $2,120,000 $117,778 $0 0.00%
    Home Improvement 1 $65,000 $65,000 $0 0.00%
    Cash Out Refi 1 $185,000 $185,000 $0 0.00%

    For 2019, Exchange State Bank's most frequently cited loan purpose was Refi, with 27 originations. The 2nd most popular reason was Home Purchase, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 47 $4,415,000 $93,936 $0 0.00%

    For 2019, Exchange State Bank's most frequently cited loan duration was Other, with 47 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 30 $1,590,000 $53,000 $0 0.00%
    $100k-200k 14 $1,890,000 $135,000 $0 0.00%
    $200k-400k 2 $520,000 $260,000 $0 0.00%
    $400k-600k 1 $415,000 $415,000 $0 0.00%

    2019 saw Exchange State Bank place emphasis on $100,000 or less loans with 30 originations, totaling $1,590,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 10 $680,000 $68,000 $0 0.00%
    $100k-150k 5 $685,000 $137,000 $0 0.00%
    $75k-100k 5 $645,000 $129,000 $0 0.00%
    $50k-75k 4 $220,000 $55,000 $0 0.00%
    $150k-250k 3 $265,000 $88,333 $0 0.00%
    $250k+ 3 $615,000 $205,000 $0 0.00%

    Exchange State Bank lent most frequently to those with incomes in the $50k or less range, with 10 originations. The second most popular income band? $100k-150k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 47 $4,415,000 $93,936 $0 0.00%

    Exchange State Bank lent most frequently to those with DTI ratios of Exempt%, with 47 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 31 $3,255,000 $105,000 $0 0.00%
    Not applicable 16 $1,160,000 $72,500 $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 47 $4,415,000 $93,936

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $220,000 $110,000
    Single Family (1-4 Units):Site-Built 45 $4,195,000 $93,222