The North Salem State Bank Mortgage Rates, Fees & Info
North Salem, INLEI: 5493005ANYGQWRPVGU61
Tax ID: 35-0551480
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
The North Salem State Bank is a smaller bank specializing in Home Purchase and Refi loans. The North Salem State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, Cullowhee, Tampa, Naples, and Terre Haute among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)The North Salem 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
125Origination Dollar Volume (All Markets)
$35,065,000Top 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 |
|---|---|---|---|---|---|
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 109 | $29,345,000 | $269,220 | $0 | 0.00% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $2,405,000 | $2,405,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $0 | 0.00% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $0 | 0.00% |
| Crawfordsville, IN (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $0 | 0.00% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Warsaw, IN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| New Castle, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Marion, IN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 125 | $35,065,000 | $280,520 | $0 | 0.00% |
For 2023, The North Salem State Bank's most frequently originated type of loan was Conventional, with 125 originations.
Loan Reason
For 2023, The North Salem State Bank's most frequently cited loan purpose was Home Purchase, with 75 originations. The 2nd most popular reason was Refi, with 31 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 125 | $35,065,000 | $280,520 | $0 | 0.00% |
For 2023, The North Salem State Bank's most frequently cited loan duration was Other, with 125 originations.
Loan Sizing
2023 saw The North Salem State Bank place emphasis on $100k-200k loans with 39 originations, totaling $5,775,000 in origination value.
Applicant Income
The North Salem State Bank lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $75k-100k, with 18 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 125 | $35,065,000 | $280,520 | $0 | 0.00% |
The North Salem State Bank lent most frequently to those with DTI ratios of Exempt%, with 125 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 96 | $24,960,000 | $260,000 | $0 | 0.00% |
| Not applicable | 29 | $10,105,000 | $348,448 | $0 | 0.00% |
Approval Rates
Total approvals of all applications95.80%
The North Salem 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 origination90.40%
The North Salem State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 125 | $35,065,000 | $280,520 |