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 Cash Out Refi, Home Purchase, and Refi loans. Lakestone Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Flint, Midland, Saginaw, and Grand Rapids among others. We have data for 8 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
235Origination Dollar Volume (All Markets)
$33,945,000Top 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) | 190 | $27,740,000 | $146,000 | $0 | 0.00% |
| Outside of Metro Areas | 22 | $2,250,000 | $102,273 | $0 | 0.00% |
| FLINT, MI (FHA|USDA|VA) | 11 | $1,995,000 | $181,364 | $0 | 0.00% |
| MIDLAND, MI (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $0 | 0.00% |
| SAGINAW, MI (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 0.00% |
| BAY CITY, MI (FHA|USDA|VA) | 4 | $250,000 | $62,500 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 235 | $33,945,000 | $144,447 | $0 | 0.00% |
For 2019, Lakestone Bank & Trust's most frequently originated type of loan was Conventional, with 235 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 96 | $13,120,000 | $136,667 | $0 | 0.00% |
| Home Purchase | 85 | $11,865,000 | $139,588 | $0 | 0.00% |
| Refi | 54 | $8,960,000 | $165,926 | $0 | 0.00% |
For 2019, Lakestone Bank & Trust's most frequently cited loan purpose was Cash Out Refi, with 96 originations. The 2nd most popular reason was Home Purchase, with 85 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 235 | $33,945,000 | $144,447 | $0 | 0.00% |
For 2019, Lakestone Bank & Trust's most frequently cited loan duration was Other, with 235 originations.
Loan Sizing
2019 saw Lakestone Bank & Trust place emphasis on $100,000 or less loans with 101 originations, totaling $6,565,000 in origination value.
Applicant Income
Lakestone Bank & Trust lent most frequently to those with incomes in the $50k-75k range, with 51 originations. The second most popular income band? $50k or less, with 49 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 235 | $33,945,000 | $144,447 | $0 | 0.00% |
Lakestone Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 235 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.82%
Lakestone Bank & Trust has a below average approval rate.
Pick Rate
Approvals leading to origination87.23%
Lakestone Bank & Trust has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 235 | $33,945,000 | $144,447 |