German American Bank Mortgage Rates, Fees & Info
Jasper, INLEI: 5493002JDOI3GTNVUD76
Tax ID: 20-5480153
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Mortgage Data
Review & Overview
German American Bank is a smaller bank specializing in Home Purchase loans. German American Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Louisville, Evansville, Bloomington, Jasper, and Nashville among others. We have data for 50 markets. (Some data included below & more in-depth data is available with an active subscription.)German American Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. German American Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/22/24 |
| 30 Year Conventional Purchase | 6.77% | 11/22/24 |
| 30 Year Conventional Refi | 6.73% | 11/22/24 |
| 30 Year Cash-out Refi | 6.84% | 11/22/24 |
| 30 Year FHA Purchase | 7.36% | 11/22/24 |
| 30 Year FHA Refi | 8.09% | 11/22/24 |
| 30 Year VA Purchase | 6.38% | 11/22/24 |
| 30 Year USDA Purchase | 6.80% | 11/22/24 |
| 30 Year USDA Refi | 6.27% | 11/22/24 |
| 15 Year Conventional Purchase | 6.13% | 11/22/24 |
| 15 Year Conventional Refi | 6.37% | 11/22/24 |
| 15 Year Cash-out Refi | 6.37% | 11/22/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
German American Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
3,333Origination Dollar Volume (All Markets)
$622,375,000Awards
German American Bank - 2022
German American Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| LOUISVILLE, KY (FHA|USDA|VA) | 492 | $136,300,000 | $277,033 | $3,340 | 2.19% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 344 | $73,040,000 | $212,326 | $2,988 | 3.00% |
| Outside of Metro Areas | 636 | $68,200,000 | $107,233 | $2,456 | 2.79% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 191 | $51,745,000 | $270,916 | $2,915 | 2.42% |
| Jasper, IN (FHA|USDA|VA) | 388 | $46,710,000 | $120,387 | $2,401 | 2.91% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 10 | $30,960,000 | $3,096,000 | $4,172 | 2.06% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 160 | $29,000,000 | $181,250 | $3,505 | 2.70% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 94 | $26,240,000 | $279,149 | $2,667 | 3.17% |
| COLUMBUS, IN (FHA|USDA|VA) | 154 | $25,110,000 | $163,052 | $2,979 | 2.41% |
| OWENSBORO, KY (FHA|USDA|VA) | 161 | $21,475,000 | $133,385 | $4,120 | 2.85% |
| Madison, IN (FHA|USDA|VA) | 164 | $18,690,000 | $113,963 | $2,544 | 2.28% |
| Washington, IN (FHA|USDA|VA) | 163 | $17,405,000 | $106,779 | $1,945 | 2.79% |
| Richmond-Berea, KY (FHA|USDA|VA) | 3 | $11,255,000 | $3,751,667 | $5,179 | 4.00% |
| Glasgow, KY (FHA|USDA|VA) | 58 | $10,220,000 | $176,207 | $3,998 | 2.63% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 12 | $9,370,000 | $780,833 | $4,313 | 2.17% |
| Vincennes, IN (FHA|USDA|VA) | 78 | $8,120,000 | $104,103 | $2,192 | 3.65% |
| Bedford, IN (FHA|USDA|VA) | 42 | $6,080,000 | $144,762 | $2,867 | 1.66% |
| Seymour, IN (FHA|USDA|VA) | 35 | $5,715,000 | $163,286 | $3,133 | 3.30% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 27 | $4,165,000 | $154,259 | $3,509 | 3.89% |
| North Vernon, IN (FHA|USDA|VA) | 34 | $3,490,000 | $102,647 | $2,890 | 2.17% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 8 | $2,750,000 | $343,750 | $4,230 | 2.67% |
| Greensburg, IN (FHA|USDA|VA) | 22 | $2,300,000 | $104,545 | $3,143 | 2.56% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $1,690,000 | $845,000 | $9,421 | 4.15% |
| Bardstown, KY (FHA|USDA|VA) | 10 | $1,640,000 | $164,000 | $3,348 | 2.58% |
| Key West, FL (FHA|USDA|VA) | 1 | $1,575,000 | $1,575,000 | $9,678 | 3.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $1,365,000 | $1,365,000 | $4,030 | 4.00% |
| Scottsburg, IN (FHA|USDA|VA) | 11 | $1,295,000 | $117,727 | $4,229 | 2.99% |
| Frankfort, KY (FHA|USDA|VA) | 6 | $1,050,000 | $175,000 | $3,137 | 3.15% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $985,000 | $985,000 | $0 | 3.74% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $18,148 | 4.00% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $2,747 | 5.69% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $7,087 | 5.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $4,129 | 3.00% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,973 | 4.38% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 4 | $250,000 | $62,500 | $3,470 | 3.47% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,971 | 2.63% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,104 | 5.50% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,504 | 6.75% |
| Sturgis, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,938 | 6.13% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,178 | 4.75% |
| Campbellsville, KY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| DECATUR, IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 5.95% |
| GADSDEN, AL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,376 | 5.88% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.75% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Paducah, KY-IL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| Central City, KY (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
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Product Mix
For 2022, German American Bank's most frequently originated type of loan was HELOC, with 1,931 originations. Their 2nd most popular type was Conventional, with 1,266 originations.
Loan Reason
For 2022, German American Bank's most frequently cited loan purpose was Home Purchase, with 1,045 originations. The 2nd most popular reason was Refi, with 844 originations.
Loan Duration/Length
For 2022, German American Bank's most frequently cited loan duration was 10 Year, with 2,067 originations. The 2nd most popular length was 30 Year, with 882 originations.
Origination Fees/Closing Costs
German American Bank's average total fees were $3,343, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 907 originations.
Interest Rates
During 2022, German American Bank's average interest rate for loans was 4.99%, while their most frequently originated rate bucket for loans was <2.5%, with 1,523 originations.
Loan Sizing
2022 saw German American Bank place emphasis on $100,000 or less loans with 1,590 originations, totaling $81,390,000 in origination value.
Applicant Income
German American Bank lent most frequently to those with incomes in the $50k-75k range, with 692 originations. The second most popular income band? $100k-150k, with 616 originations.
Applicant Debt to Income Ratio
German American Bank lent most frequently to those with DTI ratios of 20-30%, with 920 originations. The next most common DTI ratio? <20%, with 832 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.90%
German American Bank has an average approval rate.
Pick Rate
Approvals leading to origination84.55%
German American Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,333 | $622,375,000 | $186,731 |