Northeast Security Bank Mortgage Rates, Fees & Info
SUMNER, IALEI: 254900UKANDAKWQ7CR03
Tax ID: 42-0253560
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Mortgage Data
Review & Overview
Northeast Security Bank is a smaller bank specializing in Home Purchase loans. Northeast Security Bank has a high proportion of conventional loans. Their top markets by origination volume include: Waterloo, Iowa City, Cedar Rapids, Punta Gorda, and Ames among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Northeast Security Bank has an above average approval rate when compared to the average across all lenders.
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Originations
68Origination Dollar Volume (All Markets)
$9,300,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 28 | $3,950,000 | $141,071 | $0 | 0.00% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 31 | $3,505,000 | $113,065 | $0 | 0.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 4 | $940,000 | $235,000 | $0 | 0.00% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $0 | 0.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| AMES, IA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 68 | $9,300,000 | $136,765 | $0 | 0.00% |
For 2023, Northeast Security Bank's most frequently originated type of loan was Conventional, with 68 originations.
Loan Reason
For 2023, Northeast Security Bank's most frequently cited loan purpose was Home Purchase, with 38 originations. The 2nd most popular reason was Refi, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 68 | $9,300,000 | $136,765 | $0 | 0.00% |
For 2023, Northeast Security Bank's most frequently cited loan duration was Other, with 68 originations.
Loan Sizing
2023 saw Northeast Security Bank place emphasis on $100,000 or less loans with 28 originations, totaling $1,450,000 in origination value.
Applicant Income
Northeast Security Bank lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $100k-150k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 68 | $9,300,000 | $136,765 | $0 | 0.00% |
Northeast Security Bank lent most frequently to those with DTI ratios of Exempt%, with 68 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.89%
Northeast Security Bank has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 68 | $9,300,000 | $136,765 |