Ann Arbor State Bank Mortgage Rates, Fees & Info
ANN ARBOR, MILEI: 5493002SXO3FNEWTLS78
Tax ID: 30-0474029
Latest/2022 | 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, Chicago, Adrian, and Jackson among others. We have data for 13 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
233Origination Dollar Volume (All Markets)
$67,795,000Top 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) | 182 | $53,910,000 | $296,209 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 32 | $9,250,000 | $289,063 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $840,000 | $420,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $0 | 0.00% |
| Adrian, MI (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| FLINT, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| MONROE, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 233 | $67,795,000 | $290,966 | $0 | 0.00% |
For 2019, Ann Arbor State Bank's most frequently originated type of loan was Conventional, with 233 originations.
Loan Reason
For 2019, Ann Arbor State Bank's most frequently cited loan purpose was Home Purchase, with 137 originations. The 2nd most popular reason was Refi, with 55 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 233 | $67,795,000 | $290,966 | $0 | 0.00% |
For 2019, Ann Arbor State Bank's most frequently cited loan duration was Other, with 233 originations.
Loan Sizing
2019 saw Ann Arbor State Bank place emphasis on $200k-400k loans with 128 originations, totaling $36,580,000 in origination value.
Applicant Income
Ann Arbor State Bank lent most frequently to those with incomes in the $100k-150k range, with 70 originations. The second most popular income band? $150k-250k, with 60 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 233 | $67,795,000 | $290,966 | $0 | 0.00% |
Ann Arbor State Bank lent most frequently to those with DTI ratios of Exempt%, with 233 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.81%
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 origination84.98%
Ann Arbor State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 233 | $67,795,000 | $290,966 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 233 | $67,795,000 | $290,966 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| AMERIFIRST FINANCIAL, INC. | FHA mortgage | Closing on a mortgage | 1 | 100.0% |