Sturgis Bank & Trust Company Mortgage Rates, Fees & Info
Sturgis, MILEI: 5493001ZYMBN3CK8LJ82
Tax ID: 38-1080012
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Sturgis Bank & Trust Company is a smaller bank specializing in Home Purchase loans. Sturgis Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Niles, Sturgis, Kalamazoo, Battle Creek, and Coldwater among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Sturgis Bank & Trust Company 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.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
419Origination Dollar Volume (All Markets)
$65,705,000Top Markets
Click or Hover to activate map
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 |
|---|---|---|---|---|---|
| NILES, MI (FHA|USDA|VA) | 54 | $28,040,000 | $519,259 | $0 | 0.00% |
| Sturgis, MI (FHA|USDA|VA) | 170 | $15,620,000 | $91,882 | $0 | 0.00% |
| Outside of Metro Areas | 56 | $6,500,000 | $116,071 | $0 | 0.00% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 41 | $5,185,000 | $126,463 | $0 | 0.00% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 29 | $3,245,000 | $111,897 | $0 | 0.00% |
| Coldwater, MI (FHA|USDA|VA) | 41 | $3,225,000 | $78,659 | $0 | 0.00% |
| Holland, MI (FHA|USDA|VA) | 8 | $2,240,000 | $280,000 | $0 | 0.00% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 10 | $880,000 | $88,000 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 0.00% |
| Hillsdale, MI (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Angola, IN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
| Kendallville, IN (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 419 | $65,705,000 | $156,814 | $0 | 0.00% |
For 2024, Sturgis Bank & Trust Company's most frequently originated type of loan was Conventional, with 419 originations.
Loan Reason
For 2024, Sturgis Bank & Trust Company's most frequently cited loan purpose was Other, with 137 originations. The 2nd most popular reason was Home Improvement, with 107 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 419 | $65,705,000 | $156,814 | $0 | 0.00% |
For 2024, Sturgis Bank & Trust Company's most frequently cited loan duration was Other, with 419 originations.
Loan Sizing
2024 saw Sturgis Bank & Trust Company place emphasis on $100,000 or less loans with 262 originations, totaling $12,610,000 in origination value.
Applicant Income
Sturgis Bank & Trust Company lent most frequently to those with incomes in the $50k-75k range, with 93 originations. The second most popular income band? $100k-150k, with 80 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 419 | $65,705,000 | $156,814 | $0 | 0.00% |
Sturgis Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 419 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.08%
Sturgis Bank & Trust Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination90.21%
Sturgis Bank & Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 419 | $65,705,000 | $156,814 |