Houghton State Bank Mortgage Rates, Fees & Info
Red Oak, IALEI: 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
52Origination Dollar Volume (All Markets)
$3,400,000Top 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 |
|---|---|---|---|---|---|
| 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% |
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
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
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
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 applications98.21%
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 origination94.23%
Houghton State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 52 | $3,400,000 | $65,385 |