Houghton State Bank Mortgage Rates, Fees & Info

Red Oak, IA

LEI: 5493002VU8UKLJWSXG84

Tax ID: 42-0319880

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Mortgage Data

Review & Overview

Houghton State Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Houghton State Bank has a high 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

52

Origination Dollar Volume (All Markets)

$3,400,000

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 47 $2,875,000 $61,170 $0 0.00%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 3 $265,000 $88,333 $0 0.00%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $260,000 $130,000 $0 0.00%
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 52 $3,400,000 $65,385 $0 0.00%

    For 2019, Houghton State Bank's most frequently originated type of loan was Conventional, with 52 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 34 $1,260,000 $37,059 $0 0.00%
    Home Purchase 14 $940,000 $67,143 $0 0.00%
    Cash Out Refi 3 $1,105,000 $368,333 $0 0.00%
    Home Improvement 1 $95,000 $95,000 $0 0.00%

    For 2019, Houghton State Bank's most frequently cited loan purpose was Refi, with 34 originations. The 2nd most popular reason was Home Purchase, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 52 $3,400,000 $65,385 $0 0.00%

    For 2019, Houghton State Bank's most frequently cited loan duration was Other, with 52 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 44 $1,530,000 $34,773 $0 0.00%
    $100k-200k 7 $885,000 $126,429 $0 0.00%
    $600k-1MM 1 $985,000 $985,000 $0 0.00%

    2019 saw Houghton State Bank place emphasis on $100,000 or less loans with 44 originations, totaling $1,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 3 $305,000 $101,667 $0 0.00%
    $50k-75k 3 $95,000 $31,667 $0 0.00%
    $50k or less 3 $275,000 $91,667 $0 0.00%
    $150k-250k 1 $5,000 $5,000 $0 0.00%
    $250k+ 1 $135,000 $135,000 $0 0.00%
    $75k-100k 1 $95,000 $95,000 $0 0.00%

    Houghton State Bank lent most frequently to those with incomes in the $100k-150k range, with 3 originations. The second most popular income band? $50k-75k, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 52 $3,400,000 $65,385 $0 0.00%

    Houghton State Bank lent most frequently to those with DTI ratios of Exempt%, with 52 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 39 $1,855,000 $47,564 $0 0.00%
    Not applicable 13 $1,545,000 $118,846 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.21%

    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
    94.23%

    Houghton State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 52 $3,400,000 $65,385

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 36 $2,190,000 $60,833
    Single Family (1-4 Units):Site-Built 16 $1,210,000 $75,625