State Savings Bank Mortgage Rates, Fees & Info
West Des Moines, IALEI: 254900OZCVAL2OC4DT59
Tax ID: 42-0544730
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Mortgage Data
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, Cedar Rapids, Pella, Mason City, 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 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
67Origination Dollar Volume (All Markets)
$12,865,000Top 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) | 62 | $9,230,000 | $148,871 | $0 | 0.00% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 1 | $3,455,000 | $3,455,000 | $0 | 0.00% |
| Pella, IA (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 0.00% |
| Mason City, IA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| AMES, IA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 67 | $12,865,000 | $192,015 | $0 | 0.00% |
For 2019, State Savings Bank's most frequently originated type of loan was Conventional, with 67 originations.
Loan Reason
For 2019, State Savings Bank's most frequently cited loan purpose was Home Purchase, with 44 originations. The 2nd most popular reason was Refi, with 20 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 67 | $12,865,000 | $192,015 | $0 | 0.00% |
For 2019, State Savings Bank's most frequently cited loan duration was Other, with 67 originations.
Loan Sizing
2019 saw State Savings Bank place emphasis on $100,000 or less loans with 29 originations, totaling $1,925,000 in origination value.
Applicant Income
State Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $150k-250k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 67 | $12,865,000 | $192,015 | $0 | 0.00% |
State Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 67 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 46 | $10,410,000 | $226,304 | $0 | 0.00% |
| White | 21 | $2,455,000 | $116,905 | $0 | 0.00% |
Approval Rates
Total approvals of all applications89.41%
State Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.06%
State Savings Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 67 | $12,865,000 | $192,015 |