Lakestone Bank & Trust Mortgage Rates, Fees & Info
Lapeer, MILEI: 254900WZKT8301DIWH64
Tax ID: 38-0746239
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Mortgage Data
Review & Overview
Lakestone Bank & Trust is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Lakestone Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Flint, Big Rapids, Hilton Head Island, and Grand Rapids among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Lakestone Bank & Trust 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
166Origination Dollar Volume (All Markets)
$23,420,000Top 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 |
|---|---|---|---|---|---|
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 137 | $18,945,000 | $138,285 | $0 | 0.00% |
| FLINT, MI (FHA|USDA|VA) | 9 | $1,345,000 | $149,444 | $0 | 0.00% |
| Outside of Metro Areas | 11 | $925,000 | $84,091 | $0 | 0.00% |
| Big Rapids, MI (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| SAGINAW, MI (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 0.00% |
| BAY CITY, MI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| MIDLAND, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 166 | $23,420,000 | $141,084 | $0 | 0.00% |
For 2018, Lakestone Bank & Trust's most frequently originated type of loan was Conventional, with 166 originations.
Loan Reason
For 2018, Lakestone Bank & Trust's most frequently cited loan purpose was Home Purchase, with 74 originations. The 2nd most popular reason was Cash Out Refi, with 44 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 166 | $23,420,000 | $141,084 | $0 | 0.00% |
For 2018, Lakestone Bank & Trust's most frequently cited loan duration was Other, with 166 originations.
Loan Sizing
2018 saw Lakestone Bank & Trust place emphasis on $100,000 or less loans with 78 originations, totaling $4,920,000 in origination value.
Applicant Income
Lakestone Bank & Trust lent most frequently to those with incomes in the $50k or less range, with 53 originations. The second most popular income band? $50k-75k, with 39 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 166 | $23,420,000 | $141,084 | $0 | 0.00% |
Lakestone Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 166 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.12%
Lakestone Bank & Trust has a below average approval rate.
Pick Rate
Approvals leading to origination81.93%
Lakestone Bank & Trust has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 166 | $23,420,000 | $141,084 |