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
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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.
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Originations
419Origination Dollar Volume (All Markets)
$65,705,000Top 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 |
|---|---|---|---|---|---|
| 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 |