Sturgis Bank & Trust Company Mortgage Rates, Fees & Info
Sturgis, MILEI: 5493001ZYMBN3CK8LJ82
Tax ID: 38-1080012
Latest/2023 | 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 Other, Home Purchase, and Refi loans. Sturgis Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Battle Creek, Sturgis, Niles, Kalamazoo, 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
424Origination Dollar Volume (All Markets)
$62,000,000Top 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 |
|---|---|---|---|---|---|
| BATTLE CREEK, MI (FHA|USDA|VA) | 27 | $15,085,000 | $558,704 | $0 | 0.00% |
| Sturgis, MI (FHA|USDA|VA) | 159 | $13,245,000 | $83,302 | $0 | 0.00% |
| Outside of Metro Areas | 47 | $7,785,000 | $165,638 | $0 | 0.00% |
| NILES, MI (FHA|USDA|VA) | 50 | $7,780,000 | $155,600 | $0 | 0.00% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 30 | $5,690,000 | $189,667 | $0 | 0.00% |
| Coldwater, MI (FHA|USDA|VA) | 66 | $5,620,000 | $85,152 | $0 | 0.00% |
| Holland, MI (FHA|USDA|VA) | 8 | $2,140,000 | $267,500 | $0 | 0.00% |
| Angola, IN (FHA|USDA|VA) | 6 | $1,030,000 | $171,667 | $0 | 0.00% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 9 | $855,000 | $95,000 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $695,000 | $695,000 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $0 | 0.00% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 4 | $290,000 | $72,500 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 4 | $260,000 | $65,000 | $0 | 0.00% |
| Hillsdale, MI (FHA|USDA|VA) | 5 | $245,000 | $49,000 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 424 | $62,000,000 | $146,226 | $0 | 0.00% |
For 2022, Sturgis Bank & Trust Company's most frequently originated type of loan was Conventional, with 424 originations.
Loan Reason
For 2022, Sturgis Bank & Trust Company's most frequently cited loan purpose was Other, with 190 originations. The 2nd most popular reason was Home Improvement, with 91 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 424 | $62,000,000 | $146,226 | $0 | 0.00% |
For 2022, Sturgis Bank & Trust Company's most frequently cited loan duration was Other, with 424 originations.
Loan Sizing
2022 saw Sturgis Bank & Trust Company place emphasis on $100,000 or less loans with 274 originations, totaling $12,880,000 in origination value.
Applicant Income
Sturgis Bank & Trust Company lent most frequently to those with incomes in the $100k-150k range, with 78 originations. The second most popular income band? $75k-100k, with 78 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 424 | $62,000,000 | $146,226 | $0 | 0.00% |
Sturgis Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 424 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.47%
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 origination90.57%
Sturgis Bank & Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 424 | $62,000,000 | $146,226 |