Heritage Bank Mortgage Rates, Fees & Info

Wood River, NE

LEI: 5493000H7FLU47PQYQ10

Tax ID: 47-0098350

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Mortgage Data

Review & Overview

Heritage Bank is a smaller bank specializing in Home Purchase and Refi loans. Heritage Bank has a high proportion of conventional loans. Their top markets by origination volume include: Grand Island, Hastings, Phoenix, Kearney, and Denver among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Heritage Bank has an above 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

49

Origination Dollar Volume (All Markets)

$6,815,000

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
GRAND ISLAND, NE (FHA|USDA|VA) 10 $1,450,000 $145,000 $0 0.00%
Outside of Metro Areas 15 $1,355,000 $90,333 $0 0.00%
Hastings, NE (FHA|USDA|VA) 16 $1,250,000 $78,125 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $1,105,000 $1,105,000 $0 0.00%
Kearney, NE (FHA|USDA|VA) 3 $545,000 $181,667 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $475,000 $475,000 $0 0.00%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
RAPID CITY, SD (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Heritage Bank's top markets include Grand Island, Hastings, Phoenix, Kearney, and Denver among others.

Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 49 $6,815,000 $139,082 $0 0.00%

    For 2023, Heritage 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 23 $4,425,000 $192,391 $0 0.00%
    Refi 10 $1,720,000 $172,000 $0 0.00%
    Home Improvement 9 $445,000 $49,444 $0 0.00%
    Other 7 $225,000 $32,143 $0 0.00%

    For 2023, Heritage Bank's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Refi, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 49 $6,815,000 $139,082 $0 0.00%

    For 2023, Heritage 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 28 $1,200,000 $42,857 $0 0.00%
    $100k-200k 9 $1,245,000 $138,333 $0 0.00%
    $200k-400k 9 $2,315,000 $257,222 $0 0.00%
    $400k-600k 2 $950,000 $475,000 $0 0.00%
    $1MM+ 1 $1,105,000 $1,105,000 $0 0.00%

    2023 saw Heritage Bank place emphasis on $100,000 or less loans with 28 originations, totaling $1,200,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 14 $1,270,000 $90,714 $0 0.00%
    $50k or less 9 $455,000 $50,556 $0 0.00%
    $100k-150k 6 $760,000 $126,667 $0 0.00%
    $150k-250k 4 $740,000 $185,000 $0 0.00%
    $75k-100k 4 $220,000 $55,000 $0 0.00%
    $250k+ 3 $1,535,000 $511,667 $0 0.00%

    Heritage Bank lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $50k or less, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 49 $6,815,000 $139,082 $0 0.00%

    Heritage 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 39 $4,715,000 $120,897 $0 0.00%
    Not applicable 8 $1,810,000 $226,250 $0 0.00%
    Asian 1 $275,000 $275,000 $0 0.00%
    Korean 1 $15,000 $15,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.85%

    Heritage Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.51%

    Heritage Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 49 $6,815,000 $139,082

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    49 $6,815,000 $139,082