Sturgis Bank & Trust Company Mortgage Rates, Fees & Info
Sturgis, MILEI: 5493001ZYMBN3CK8LJ82
Tax ID: 38-1080012
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Mortgage Data
Review & Overview
Sturgis Bank & Trust Company is a smaller bank specializing in Other and Home Purchase loans. Sturgis Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Sturgis, Niles, Kalamazoo, Coldwater, and Battle Creek among others. We have data for 18 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 a below average pick rate when compared to similar lenders.
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Originations
392Origination Dollar Volume (All Markets)
$43,540,000Top 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 |
|---|---|---|---|---|---|
| Sturgis, MI (FHA|USDA|VA) | 173 | $12,745,000 | $73,671 | $0 | 0.00% |
| NILES, MI (FHA|USDA|VA) | 54 | $10,870,000 | $201,296 | $0 | 0.00% |
| Outside of Metro Areas | 47 | $5,665,000 | $120,532 | $0 | 0.00% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 23 | $3,715,000 | $161,522 | $0 | 0.00% |
| Coldwater, MI (FHA|USDA|VA) | 36 | $3,000,000 | $83,333 | $0 | 0.00% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 24 | $1,900,000 | $79,167 | $0 | 0.00% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 15 | $1,735,000 | $115,667 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 2 | $1,310,000 | $655,000 | $0 | 0.00% |
| Holland, MI (FHA|USDA|VA) | 7 | $785,000 | $112,143 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $0 | 0.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| Marquette, MI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Angola, IN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $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 | 392 | $43,540,000 | $111,071 | $0 | 0.00% |
For 2023, Sturgis Bank & Trust Company's most frequently originated type of loan was Conventional, with 392 originations.
Loan Reason
For 2023, Sturgis Bank & Trust Company's most frequently cited loan purpose was Other, with 158 originations. The 2nd most popular reason was Home Improvement, with 83 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 392 | $43,540,000 | $111,071 | $0 | 0.00% |
For 2023, Sturgis Bank & Trust Company's most frequently cited loan duration was Other, with 392 originations.
Loan Sizing
2023 saw Sturgis Bank & Trust Company place emphasis on $100,000 or less loans with 257 originations, totaling $11,825,000 in origination value.
Applicant Income
Sturgis Bank & Trust Company lent most frequently to those with incomes in the $50k or less range, with 79 originations. The second most popular income band? $50k-75k, with 75 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 392 | $43,540,000 | $111,071 | $0 | 0.00% |
Sturgis Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 392 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.91%
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 origination86.48%
Sturgis Bank & Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 392 | $43,540,000 | $111,071 |