Peoples Bank Mortgage Rates, Fees & Info
Clive, IALEI: 254900QIPUZ7PAK59X63
Tax ID: 42-0463300
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Mortgage Data
Review & Overview
Peoples Bank is a smaller bank specializing in Refi and Home Purchase loans. Peoples Bank has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Muscatine, Ames, Phoenix, and Mason City among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Peoples 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. Peoples Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.52% | 11/21/24 |
| 30 Year Conventional Refi | 6.06% | 11/21/24 |
| 30 Year Cash-out Refi | 6.70% | 11/21/24 |
| 30 Year FHA Purchase | 6.27% | 11/21/24 |
| 30 Year FHA Refi | 6.27% | 11/21/24 |
| 30 Year USDA Purchase | 6.27% | 11/21/24 |
| 15 Year Conventional Refi | 6.25% | 11/21/24 |
| 15 Year Cash-out Refi | 6.25% | 11/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Peoples Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
131Origination Dollar Volume (All Markets)
$20,795,000Top 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) | 75 | $13,245,000 | $176,600 | $2,848 | 4.88% |
| Outside of Metro Areas | 38 | $3,220,000 | $84,737 | $2,068 | 5.29% |
| Muscatine, IA (FHA|USDA|VA) | 1 | $1,715,000 | $1,715,000 | $0 | 4.90% |
| AMES, IA (FHA|USDA|VA) | 13 | $1,525,000 | $117,308 | $2,408 | 5.15% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $6,846 | 4.50% |
| Mason City, IA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,379 | 4.63% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,035 | 3.65% |
| Carroll, IA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 6.69% |
Similar Lenders
We use machine learning to identify the top lenders compared against Peoples Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 82 | $17,680,000 | $215,610 | $2,659 | 5.22% |
| HELOC | 49 | $3,115,000 | $63,571 | n/a | 4.69% |
For 2022, Peoples Bank's most frequently originated type of loan was Conventional, with 82 originations. Their 2nd most popular type was HELOC, with 49 originations.
Loan Reason
For 2022, Peoples Bank's most frequently cited loan purpose was Refi, with 47 originations. The 2nd most popular reason was Home Purchase, with 29 originations.
Loan Duration/Length
For 2022, Peoples Bank's most frequently cited loan duration was 5 Year, with 73 originations. The 2nd most popular length was 30 Year, with 27 originations.
Origination Fees/Closing Costs
Peoples Bank's average total fees were $3,555, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 19 originations.
Interest Rates
During 2022, Peoples Bank's average interest rate for loans was 4.62%, while their most frequently originated rate bucket for loans was 4-5%, with 46 originations.
Loan Sizing
2022 saw Peoples Bank place emphasis on $100,000 or less loans with 76 originations, totaling $3,560,000 in origination value.
Applicant Income
Peoples Bank lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $50k or less, with 23 originations.
Applicant Debt to Income Ratio
Peoples Bank lent most frequently to those with DTI ratios of 30-36%, with 28 originations. The next most common DTI ratio? 20-30%, with 26 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.90%
Peoples Bank has an average approval rate.
Pick Rate
Approvals leading to origination87.79%
Peoples Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 131 | $20,795,000 | $158,740 |