Chelsea Savings Bank Mortgage Rates, Fees & Info
Belle Plaine, IALEI: 254900YUF5NHPY7YH136
Tax ID: 42-0178730
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Mortgage Data
Review & Overview
Chelsea Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. Chelsea Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Cedar Rapids, Platteville, and Waterloo among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Chelsea Savings Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
45Origination Dollar Volume (All Markets)
$3,195,000Top 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 | 20 | $1,490,000 | $74,500 | $0 | 0.00% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 21 | $1,225,000 | $58,333 | $0 | 0.00% |
| Platteville, WI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 3 | $175,000 | $58,333 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 45 | $3,195,000 | $71,000 | $0 | 0.00% |
For 2018, Chelsea Savings Bank's most frequently originated type of loan was Conventional, with 45 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 24 | $1,550,000 | $64,583 | $0 | 0.00% |
| Home Purchase | 18 | $1,500,000 | $83,333 | $0 | 0.00% |
| Home Improvement | 3 | $145,000 | $48,333 | $0 | 0.00% |
For 2018, Chelsea Savings Bank's most frequently cited loan purpose was Refi, with 24 originations. The 2nd most popular reason was Home Purchase, with 18 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 45 | $3,195,000 | $71,000 | $0 | 0.00% |
For 2018, Chelsea Savings Bank's most frequently cited loan duration was Other, with 45 originations.
Loan Sizing
2018 saw Chelsea Savings Bank place emphasis on $100,000 or less loans with 36 originations, totaling $1,720,000 in origination value.
Applicant Income
Chelsea Savings Bank lent most frequently to those with incomes in the $50k or less range, with 19 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% | 45 | $3,195,000 | $71,000 | $0 | 0.00% |
Chelsea Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 45 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 44 | $3,140,000 | $71,364 | $0 | 0.00% |
| Not applicable | 1 | $55,000 | $55,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.00%
Chelsea Savings Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination93.33%
Chelsea Savings Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 45 | $3,195,000 | $71,000 |