Ann Arbor State Bank Mortgage Rates, Fees & Info
ANN ARBOR, MILEI: 5493002SXO3FNEWTLS78
Tax ID: 30-0474029
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Ann Arbor State Bank is a smaller bank specializing in Home Purchase and Refi loans. Ann Arbor State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Ann Arbor, Detroit, Jackson, Traverse City, and Monroe among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Ann Arbor State Bank 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
198Origination Dollar Volume (All Markets)
$55,660,000Top 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 |
|---|---|---|---|---|---|
| ANN ARBOR, MI (FHA|USDA|VA) | 147 | $42,935,000 | $292,075 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 31 | $9,335,000 | $301,129 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 9 | $1,165,000 | $129,444 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $0 | 0.00% |
| MONROE, MI (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 0.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| Adrian, MI (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 198 | $55,660,000 | $281,111 | $0 | 0.00% |
For 2018, Ann Arbor State Bank's most frequently originated type of loan was Conventional, with 198 originations.
Loan Reason
For 2018, Ann Arbor State Bank's most frequently cited loan purpose was Home Purchase, with 132 originations. The 2nd most popular reason was Refi, with 35 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 198 | $55,660,000 | $281,111 | $0 | 0.00% |
For 2018, Ann Arbor State Bank's most frequently cited loan duration was Other, with 198 originations.
Loan Sizing
2018 saw Ann Arbor State Bank place emphasis on $200k-400k loans with 117 originations, totaling $34,635,000 in origination value.
Applicant Income
Ann Arbor State Bank lent most frequently to those with incomes in the $100k-150k range, with 53 originations. The second most popular income band? $150k-250k, with 40 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 198 | $55,660,000 | $281,111 | $0 | 0.00% |
Ann Arbor State Bank lent most frequently to those with DTI ratios of Exempt%, with 198 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.15%
Ann Arbor State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination82.32%
Ann Arbor State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 198 | $55,660,000 | $281,111 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $505,000 | $505,000 |
| Single Family (1-4 Units):Site-Built | 197 | $55,155,000 | $279,975 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Amerifund Home Mortgage LLC | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |