Horatio State Bank Mortgage Rates, Fees & Info

Horatio, AR

LEI: 5493006ZPOXWU5V4FT07

Tax ID: 71-0089220

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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

    Horatio State Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Horatio State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Texarkana, Fayetteville, Hope, and Magnolia among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Horatio 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.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    200

    Origination Dollar Volume (All Markets)

    $17,900,000

    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 125 $11,615,000 $92,920 $803 6.84%
    TEXARKANA, TX-AR (FHA|USDA|VA) 70 $5,580,000 $79,714 $976 7.01%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $430,000 $215,000 $1,719 6.75%
    Hope, AR (FHA|USDA|VA) 2 $160,000 $80,000 $885 6.75%
    Magnolia, AR (FHA|USDA|VA) 1 $115,000 $115,000 $840 7.00%
    Horatio State Bank's top markets include Texarkana, Fayetteville, Hope, and Magnolia among others.

    Their top states include:
  • Arkansas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 200 $17,900,000 $89,500 $873 6.90%

    For 2022, Horatio State Bank's most frequently originated type of loan was Conventional, with 200 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 96 $7,990,000 $83,229 $1,025 6.88%
    Cash Out Refi 60 $5,340,000 $89,000 $765 6.80%
    Other 17 $2,145,000 $126,176 $859 6.94%
    Refi 14 $1,980,000 $141,429 $738 6.92%
    Home Improvement 13 $445,000 $34,231 $608 7.41%

    For 2022, Horatio State Bank's most frequently cited loan purpose was Home Purchase, with 96 originations. The 2nd most popular reason was Cash Out Refi, with 60 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 141 $12,145,000 $86,135 $873 6.88%
    5 Year 54 $5,240,000 $97,037 $0 6.97%
    1 Year 5 $515,000 $103,000 $0 6.70%

    For 2022, Horatio State Bank's most frequently cited loan duration was Other, with 141 originations. The 2nd most popular length was 5 Year, with 54 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 107 $9,875,000 $92,290

    Horatio 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 107 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 89 $8,515,000 $95,674
    7-8% 62 $3,870,000 $62,419
    5-6% 26 $2,580,000 $99,231
    Over 8% 12 $370,000 $30,833
    4-5% 11 $2,565,000 $233,182

    During 2022, Horatio State Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 89 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 135 $6,535,000 $48,407 $785 7.14%
    $100k-200k 47 $6,215,000 $132,234 $998 6.50%
    $200k-400k 16 $4,210,000 $263,125 $1,200 6.25%
    $400k-600k 2 $940,000 $470,000 $996 5.00%

    2022 saw Horatio State Bank place emphasis on $100,000 or less loans with 135 originations, totaling $6,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 62 $3,230,000 $52,097 $818 7.03%
    $50k-75k 58 $4,370,000 $75,345 $898 7.08%
    $100k-150k 34 $3,760,000 $110,588 $941 6.72%
    $75k-100k 26 $2,980,000 $114,615 $851 6.76%
    $150k-250k 10 $2,010,000 $201,000 $942 6.39%
    $250k+ 5 $645,000 $129,000 $0 6.70%

    Horatio State Bank lent most frequently to those with incomes in the $50k or less range, with 62 originations. The second most popular income band? $50k-75k, with 58 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 45 $3,655,000 $81,222 $824 7.04%
    30-36% 32 $2,470,000 $77,188 $773 6.77%
    <20% 32 $1,800,000 $56,250 $879 6.88%
    50-60% 16 $2,750,000 $171,875 $1,112 6.66%
    >60% 14 $1,070,000 $76,429 $1,719 7.07%
    39% 7 $615,000 $87,857 $679 6.86%
    37% 7 $725,000 $103,571 $702 6.75%
    41% 7 $615,000 $87,857 $1,206 7.26%
    46% 6 $510,000 $85,000 $1,128 6.79%
    47% 5 $605,000 $121,000 $1,003 7.10%
    42% 5 $565,000 $113,000 $590 6.90%
    44% 5 $435,000 $87,000 $1,026 7.07%
    45% 3 $155,000 $51,667 $879 6.90%
    43% 3 $215,000 $71,667 $623 7.08%
    40% 3 $325,000 $108,333 $1,111 7.17%
    36% 2 $230,000 $115,000 $714 6.40%
    38% 2 $190,000 $95,000 $826 7.00%
    48% 1 $65,000 $65,000 $808 7.00%

    Horatio State Bank lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 32 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 178 $15,920,000 $89,438 $874 6.87%
    Not applicable 5 $905,000 $181,000 $0 6.30%
    Black 12 $660,000 $55,000 $762 7.26%
    American Indian 5 $415,000 $83,000 $1,070 7.61%

    Approval Rates

    Total approvals of all applications
    92.21%

    Horatio State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.50%

    Horatio State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 200 $17,900,000 $89,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    200 $17,900,000 $89,500

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $440,000 $31,429 $616 6.74%
    40-60% 26 $1,670,000 $64,231 $813 6.91%
    60-80% 72 $5,580,000 $77,500 $772 6.90%
    80-100% 78 $8,850,000 $113,462 $1,019 6.87%
    Over 100% 7 $1,335,000 $190,714 $1,048 6.90%
    Under 20% 3 $25,000 $8,333 $358 8.25%