State Savings Bank Mortgage Rates, Fees & Info
West Des Moines, IALEI: 254900OZCVAL2OC4DT59
Tax ID: 42-0544730
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
State Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. State Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, The Villages, Pella, and Ames among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)State Savings Bank 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
50Origination Dollar Volume (All Markets)
$13,710,000Top 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) | 44 | $12,910,000 | $293,409 | $0 | 0.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| Pella, IA (FHA|USDA|VA) | 3 | $255,000 | $85,000 | $0 | 0.00% |
| AMES, IA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 50 | $13,710,000 | $274,200 | $0 | 0.00% |
For 2023, State Savings Bank's most frequently originated type of loan was Conventional, with 50 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 38 | $10,070,000 | $265,000 | $0 | 0.00% |
| Refi | 10 | $3,570,000 | $357,000 | $0 | 0.00% |
| Home Improvement | 2 | $70,000 | $35,000 | $0 | 0.00% |
For 2023, State Savings Bank's most frequently cited loan purpose was Home Purchase, with 38 originations. The 2nd most popular reason was Refi, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 50 | $13,710,000 | $274,200 | $0 | 0.00% |
For 2023, State Savings Bank's most frequently cited loan duration was Other, with 50 originations.
Loan Sizing
2023 saw State Savings Bank place emphasis on $100,000 or less loans with 18 originations, totaling $1,120,000 in origination value.
Applicant Income
State Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 4 originations. The second most popular income band? $150k-250k, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 50 | $13,710,000 | $274,200 | $0 | 0.00% |
State Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 50 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.78%
State Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination66.00%
State Savings Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 50 | $13,710,000 | $274,200 |