Northeast Security Bank Mortgage Rates, Fees & Info

SUMNER, IA

LEI: 254900UKANDAKWQ7CR03

Tax ID: 42-0253560

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Mortgage Data

Review & Overview

Northeast Security Bank is a smaller bank specializing in Home Purchase and Refi loans. Northeast Security Bank has a high proportion of conventional loans. Their top markets by origination volume include: Waterloo, Rochester, and Cedar Rapids among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Northeast Security Bank has an average approval rate when compared to the average across all lenders.

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Originations

49

Origination Dollar Volume (All Markets)

$5,055,000

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
Outside of Metro Areas 33 $3,465,000 $105,000 $0 0.00%
WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 12 $1,250,000 $104,167 $0 0.00%
ROCHESTER, MN (FHA|USDA|VA) 2 $180,000 $90,000 $0 0.00%
CEDAR RAPIDS, IA (FHA|USDA|VA) 2 $160,000 $80,000 $0 0.00%
Northeast Security Bank's top markets include Waterloo, Rochester, and Cedar Rapids among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 49 $5,055,000 $103,163 $0 0.00%

    For 2018, Northeast Security Bank's most frequently originated type of loan was Conventional, with 49 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 29 $3,175,000 $109,483 $0 0.00%
    Refi 13 $1,565,000 $120,385 $0 0.00%
    Home Improvement 5 $245,000 $49,000 $0 0.00%
    Other 2 $70,000 $35,000 $0 0.00%

    For 2018, Northeast Security Bank's most frequently cited loan purpose was Home Purchase, with 29 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 49 $5,055,000 $103,163 $0 0.00%

    For 2018, Northeast Security Bank's most frequently cited loan duration was Other, with 49 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 33 $1,865,000 $56,515 $0 0.00%
    $100k-200k 12 $1,660,000 $138,333 $0 0.00%
    $200k-400k 3 $925,000 $308,333 $0 0.00%
    $600k-1MM 1 $605,000 $605,000 $0 0.00%

    2018 saw Northeast Security Bank place emphasis on $100,000 or less loans with 33 originations, totaling $1,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 13 $825,000 $63,462 $0 0.00%
    $50k-75k 12 $920,000 $76,667 $0 0.00%
    $75k-100k 11 $905,000 $82,273 $0 0.00%
    $100k-150k 7 $905,000 $129,286 $0 0.00%
    $150k-250k 5 $895,000 $179,000 $0 0.00%
    $250k+ 1 $605,000 $605,000 $0 0.00%

    Northeast Security Bank lent most frequently to those with incomes in the $50k or less range, with 13 originations. The second most popular income band? $50k-75k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 49 $5,055,000 $103,163 $0 0.00%

    Northeast Security Bank lent most frequently to those with DTI ratios of Exempt%, with 49 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 49 $5,055,000 $103,163 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.50%

    Northeast Security Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 49 $5,055,000 $103,163

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $125,000 $125,000
    Single Family (1-4 Units):Manufactured 2 $80,000 $40,000
    Single Family (1-4 Units):Site-Built 46 $4,850,000 $105,435