Houghton State Bank Mortgage Rates, Fees & Info

Red Oak, IA

LEI: 5493002VU8UKLJWSXG84

Tax ID: 42-0319880

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Houghton State Bank is a smaller bank specializing in Refi and Home Purchase loans. Houghton State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Spirit Lake, Des Moines, and Omaha among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Houghton State Bank has an above average approval rate when compared to the average across all lenders.

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    Originations

    32

    Origination Dollar Volume (All Markets)

    $2,380,000

    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
    Outside of Metro Areas 27 $1,815,000 $67,222 $0 0.00%
    Spirit Lake, IA (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 3 $205,000 $68,333 $0 0.00%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
    Houghton State Bank's top markets include Spirit Lake, Des Moines, and Omaha among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 32 $2,380,000 $74,375 $0 0.00%

    For 2023, Houghton State Bank's most frequently originated type of loan was Conventional, with 32 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 17 $1,215,000 $71,471 $0 0.00%
    Home Purchase 12 $1,100,000 $91,667 $0 0.00%
    Home Improvement 2 $40,000 $20,000 $0 0.00%
    Other 1 $25,000 $25,000 $0 0.00%

    For 2023, Houghton State Bank's most frequently cited loan purpose was Refi, with 17 originations. The 2nd most popular reason was Home Purchase, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 32 $2,380,000 $74,375 $0 0.00%

    For 2023, Houghton State Bank's most frequently cited loan duration was Other, with 32 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 25 $1,065,000 $42,600 $0 0.00%
    $100k-200k 4 $460,000 $115,000 $0 0.00%
    $200k-400k 3 $855,000 $285,000 $0 0.00%

    2023 saw Houghton State Bank place emphasis on $100,000 or less loans with 25 originations, totaling $1,065,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 9 $565,000 $62,778 $0 0.00%
    $50k-75k 4 $180,000 $45,000 $0 0.00%
    $100k-150k 3 $565,000 $188,333 $0 0.00%
    $50k or less 3 $35,000 $11,667 $0 0.00%
    $75k-100k 2 $160,000 $80,000 $0 0.00%
    $150k-250k 1 $325,000 $325,000 $0 0.00%

    Houghton State Bank lent most frequently to those with incomes in the $250k+ range, with 9 originations. The second most popular income band? $50k-75k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 32 $2,380,000 $74,375 $0 0.00%

    Houghton State Bank lent most frequently to those with DTI ratios of Exempt%, with 32 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 22 $1,830,000 $83,182 $0 0.00%
    Not applicable 10 $550,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.97%

    Houghton 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 origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 32 $2,380,000 $74,375

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    32 $2,380,000 $74,375