The First State Bank Of Porter Mortgage Rates, Fees & Info

Porter, IN

LEI: 5493008CDD8DDS775F56

Tax ID: 35-0310570

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Mortgage Data

Review & Overview

The First State Bank Of Porter is a smaller bank specializing in Refi and Home Purchase loans. The First State Bank Of Porter has a high proportion of conventional loans. Their top two markets are Chicago and Michigan City .

The First State Bank Of Porter has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

27

Origination Dollar Volume (All Markets)

$7,135,000

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 19 $4,945,000 $260,263 $0 0.00%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 8 $2,190,000 $273,750 $0 0.00%
The First State Bank Of Porter's top markets include Chicago and Michigan City among others.

Their top states include:
  • Indiana (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 27 $7,135,000 $264,259 $0 0.00%

    For 2023, The First State Bank Of Porter's most frequently originated type of loan was Conventional, with 27 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 11 $2,425,000 $220,455 $0 0.00%
    Home Purchase 9 $3,945,000 $438,333 $0 0.00%
    Home Improvement 5 $475,000 $95,000 $0 0.00%
    Other 2 $290,000 $145,000 $0 0.00%

    For 2023, The First State Bank Of Porter's most frequently cited loan purpose was Refi, with 11 originations. The 2nd most popular reason was Home Purchase, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 27 $7,135,000 $264,259 $0 0.00%

    For 2023, The First State Bank Of Porter's most frequently cited loan duration was Other, with 27 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 8 $1,060,000 $132,500 $0 0.00%
    $100,000 or less 7 $415,000 $59,286 $0 0.00%
    $200k-400k 7 $1,685,000 $240,714 $0 0.00%
    $400k-600k 2 $910,000 $455,000 $0 0.00%
    $600k-1MM 2 $1,620,000 $810,000 $0 0.00%
    $1MM+ 1 $1,445,000 $1,445,000 $0 0.00%

    2023 saw The First State Bank Of Porter place emphasis on $100k-200k loans with 8 originations, totaling $1,060,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 8 $1,200,000 $150,000 $0 0.00%
    $250k+ 4 $2,790,000 $697,500 $0 0.00%
    $50k or less 4 $380,000 $95,000 $0 0.00%
    $150k-250k 3 $985,000 $328,333 $0 0.00%
    $75k-100k 2 $120,000 $60,000 $0 0.00%
    $50k-75k 1 $215,000 $215,000 $0 0.00%

    The First State Bank Of Porter lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $250k+, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 27 $7,135,000 $264,259 $0 0.00%

    The First State Bank Of Porter lent most frequently to those with DTI ratios of Exempt%, with 27 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 21 $5,525,000 $263,095 $0 0.00%
    Not applicable 5 $1,445,000 $289,000 $0 0.00%
    Not provided 1 $165,000 $165,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.84%

    The First State Bank Of Porter has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.78%

    The First State Bank Of Porter has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 27 $7,135,000 $264,259

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    27 $7,135,000 $264,259