Exchange State Bank Mortgage Rates, Fees & Info
Ames, IALEI: 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
47Origination Dollar Volume (All Markets)
$4,415,000Top 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 |
|---|---|---|---|---|---|
| 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% |
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
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
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
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 applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 47 | $4,415,000 | $93,936 |