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 Home Purchase loans. Houghton State Bank has a high proportion of conventional loans. Houghton State Bank has an average proportion of conventional loans. Their top two markets are Des Moines and Omaha .

    Houghton State Bank 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

    45

    Origination Dollar Volume (All Markets)

    $3,915,000

    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 37 $3,085,000 $83,378 $1,384 5.51%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 3 $495,000 $165,000 $0 5.50%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 5 $335,000 $67,000 $2,456 5.64%
    Houghton State Bank's top markets include Des Moines and Omaha among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 34 $3,360,000 $98,824 $1,461 5.53%
    Conventional 11 $555,000 $50,455 $0 0.00%

    For 2018, Houghton State Bank's most frequently originated type of loan was Conventional, with 34 originations. Their 2nd most popular type was Conventional, with 11 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 24 $2,690,000 $112,083 $1,990 5.50%
    Home Improvement 7 $315,000 $45,000 $1,329 5.60%
    Refi 7 $515,000 $73,571 $1,000 5.43%
    Cash Out Refi 5 $335,000 $67,000 $906 5.63%
    Other 2 $60,000 $30,000 $476 5.75%

    For 2018, Houghton State Bank's most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Home Improvement, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 19 $1,375,000 $72,368 $1,621 5.72%
    5 Year 13 $475,000 $36,538 $0 5.48%
    15 Year 5 $285,000 $57,000 $1,144 5.70%
    20 Year 4 $220,000 $55,000 $1,654 5.13%
    1 Year 3 $1,295,000 $431,667 $1,624 5.58%
    3 Year 1 $265,000 $265,000 $0 5.25%

    For 2018, Houghton State Bank's most frequently cited loan duration was Other, with 19 originations. The 2nd most popular length was 5 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 10 $680,000 $68,000
    $1k-2k 4 $410,000 $102,500

    Houghton State Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 10 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 28 $3,010,000 $107,500
    4-5% 4 $200,000 $50,000
    6-7% 2 $150,000 $75,000

    During 2018, Houghton State Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 28 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 33 $1,355,000 $41,061 $1,323 5.45%
    $100k-200k 9 $1,105,000 $122,778 $1,709 5.85%
    $200k-400k 2 $500,000 $250,000 $0 5.38%
    $600k-1MM 1 $955,000 $955,000 $0 5.50%

    2018 saw Houghton State Bank place emphasis on $100,000 or less loans with 33 originations, totaling $1,355,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 8 $500,000 $62,500 $1,646 5.50%
    $50k or less 8 $260,000 $32,500 $1,629 5.50%
    $100k-150k 6 $370,000 $61,667 $1,111 5.45%
    $250k+ 6 $470,000 $78,333 $0 5.50%
    $75k-100k 5 $605,000 $121,000 $671 5.68%
    $150k-250k 1 $75,000 $75,000 $2,102 5.50%

    Houghton State Bank lent most frequently to those with incomes in the $50k-75k range, with 8 originations. The second most popular income band? $50k or less, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 11 $555,000 $50,455 $0 0.00%
    20-30% 7 $645,000 $92,143 $1,474 5.39%
    <20% 7 $455,000 $65,000 $1,543 5.40%
    50-60% 3 $325,000 $108,333 $0 5.42%
    39% 2 $130,000 $65,000 $2,102 5.50%
    43% 2 $130,000 $65,000 $1,342 6.00%
    >60% 2 $110,000 $55,000 $0 5.50%
    40% 1 $5,000 $5,000 $0 5.50%
    30-36% 1 $105,000 $105,000 $1,624 5.75%
    36% 1 $35,000 $35,000 $436 6.50%

    Houghton State Bank lent most frequently to those with DTI ratios of Exempt%, with 11 originations. The next most common DTI ratio? 20-30%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 33 $2,915,000 $88,333 $1,461 5.53%
    Not applicable 10 $680,000 $68,000 $0 5.56%
    Asian 2 $320,000 $160,000 $0 5.38%

    Approval Rates

    Total approvals of all applications
    94.12%

    Houghton State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.33%

    Houghton State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 11 $555,000 $50,455
    NA 34 $3,360,000 $98,824

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $1,735,000 $157,727
    Single Family (1-4 Units):Manufactured 2 $200,000 $100,000
    Single Family (1-4 Units):Site-Built 32 $1,980,000 $61,875

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $420,000 $70,000 $895 5.95%
    40-60% 4 $1,350,000 $337,500 $0 5.50%
    60-80% 10 $670,000 $67,000 $1,460 5.40%
    80-100% 7 $585,000 $83,571 $2,075 5.48%
    Under 20% 5 $275,000 $55,000 $1,316 5.40%