Nxt Bank Mortgage Rates, Fees & Info
Cedar Rapids, IALEI: 5493003WYI2EHBUFIE36
Tax ID: 42-0638374
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Nxt Bank is a smaller bank specializing in Home Purchase and Refi loans. Nxt Bank has a high proportion of conventional loans. Their top markets by origination volume include: Iowa City, Waterloo, and Cedar Rapids among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Nxt 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
50Origination Dollar Volume (All Markets)
$9,780,000Top 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 | 17 | $4,545,000 | $267,353 | $0 | 0.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 8 | $1,850,000 | $231,250 | $0 | 0.00% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 11 | $1,795,000 | $163,182 | $0 | 0.00% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 14 | $1,590,000 | $113,571 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 50 | $9,780,000 | $195,600 | $0 | 0.00% |
For 2018, Nxt Bank's most frequently originated type of loan was Conventional, with 50 originations.
Loan Reason
For 2018, Nxt Bank's most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Refi, with 14 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 50 | $9,780,000 | $195,600 | $0 | 0.00% |
For 2018, Nxt Bank's most frequently cited loan duration was Other, with 50 originations.
Loan Sizing
2018 saw Nxt Bank place emphasis on $100k-200k loans with 18 originations, totaling $2,270,000 in origination value.
Applicant Income
Nxt Bank lent most frequently to those with incomes in the $250k+ range, with 7 originations. The second most popular income band? $150k-250k, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 50 | $9,780,000 | $195,600 | $0 | 0.00% |
Nxt Bank lent most frequently to those with DTI ratios of Exempt%, with 50 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.38%
Nxt Bank has an average approval rate.
Pick Rate
Approvals leading to origination94.00%
Nxt Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 50 | $9,780,000 | $195,600 |