State Savings Bank Mortgage Rates, Fees & Info

West Des Moines, IA

LEI: 254900OZCVAL2OC4DT59

Tax ID: 42-0544730

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

    State Savings Bank is a smaller bank specializing in Home Purchase loans. State Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Marshalltown, Ames, and Mason City 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 average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar 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

    56

    Origination Dollar Volume (All Markets)

    $6,970,000

    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
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 48 $4,340,000 $90,417 $0 0.00%
    Marshalltown, IA (FHA|USDA|VA) 1 $1,565,000 $1,565,000 $0 0.00%
    Outside of Metro Areas 4 $750,000 $187,500 $0 0.00%
    AMES, IA (FHA|USDA|VA) 2 $250,000 $125,000 $0 0.00%
    Mason City, IA (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    State Savings Bank's top markets include Des Moines, Marshalltown, Ames, and Mason City among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 56 $6,970,000 $124,464 $0 0.00%

    For 2018, State Savings Bank's most frequently originated type of loan was Conventional, with 56 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 38 $5,980,000 $157,368 $0 0.00%
    Refi 13 $885,000 $68,077 $0 0.00%
    Other 3 $65,000 $21,667 $0 0.00%
    Home Improvement 2 $40,000 $20,000 $0 0.00%

    For 2018, State Savings Bank's most frequently cited loan purpose was Home Purchase, with 38 originations. The 2nd most popular reason was Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 56 $6,970,000 $124,464 $0 0.00%

    For 2018, State Savings Bank's most frequently cited loan duration was Other, with 56 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 40 $2,380,000 $59,500 $0 0.00%
    $100k-200k 12 $1,840,000 $153,333 $0 0.00%
    $200k-400k 2 $700,000 $350,000 $0 0.00%
    $1MM+ 1 $1,565,000 $1,565,000 $0 0.00%
    $400k-600k 1 $485,000 $485,000 $0 0.00%

    2018 saw State Savings Bank place emphasis on $100,000 or less loans with 40 originations, totaling $2,380,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 10 $1,140,000 $114,000 $0 0.00%
    $75k-100k 5 $335,000 $67,000 $0 0.00%
    $50k-75k 3 $125,000 $41,667 $0 0.00%
    $150k-250k 2 $230,000 $115,000 $0 0.00%
    $50k or less 2 $120,000 $60,000 $0 0.00%

    State Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $75k-100k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 56 $6,970,000 $124,464 $0 0.00%

    State Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 56 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 34 $5,020,000 $147,647 $0 0.00%
    White 22 $1,950,000 $88,636 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.42%

    State Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.14%

    State Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 56 $6,970,000 $124,464

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $2,970,000 $495,000
    Single Family (1-4 Units):Manufactured 2 $140,000 $70,000
    Single Family (1-4 Units):Site-Built 48 $3,860,000 $80,417