The Dart Bank Mortgage Rates, Fees & Info

Mason, MI

LEI: 5493008P6YO2KM3EO556

Tax ID: 38-0464116

5 stars - Updated: 6/9/24 - out of 5 stars, based on 42 reviews

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

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Mortgage Data

Review & Overview

The Dart Bank is a smaller bank specializing in Home Purchase loans. The Dart Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Lansing, Detroit, Grand Rapids, Jackson, and Ann Arbor among others. We have data for 67 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Dart Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. The Dart Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.66% 6/9/24
30 Year Conventional Refi 6.73% 6/9/24
30 Year Cash-out Refi 6.78% 6/9/24
30 Year FHA Purchase 7.57% 6/9/24
30 Year FHA Refi 7.47% 6/9/24
30 Year VA Purchase 6.57% 6/9/24
30 Year USDA Purchase 6.90% 6/9/24
15 Year Conventional Purchase 6.22% 6/9/24
15 Year Conventional Refi 6.21% 6/9/24
15 Year Cash-out Refi 6.21% 6/9/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

The Dart Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from The Dart Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

1,728

Origination Dollar Volume (All Markets)

$506,400,000
Show all (5) awards

Relative Rate

The Dart Bank's average 30 year fixed mortgage rate was 6.86%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.38%.

Relative Fees (Closing Costs)

The Dart Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,344.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
LANSING-EAST LANSING, MI (FHA|USDA|VA) 751 $175,065,000 $233,109 $3,862 6.93%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 191 $93,125,000 $487,565 $5,017 6.79%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 213 $63,425,000 $297,770 $4,867 6.90%
JACKSON, MI (FHA|USDA|VA) 117 $26,365,000 $225,342 $3,836 6.99%
Outside of Metro Areas 98 $23,930,000 $244,184 $4,916 7.20%
ANN ARBOR, MI (FHA|USDA|VA) 39 $17,505,000 $448,846 $4,152 6.89%
Holland, MI (FHA|USDA|VA) 38 $13,500,000 $355,263 $6,088 6.99%
FLINT, MI (FHA|USDA|VA) 34 $13,480,000 $396,471 $4,916 6.96%
Traverse City, MI (FHA|USDA|VA) 22 $8,190,000 $372,273 $4,809 7.23%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 13 $7,205,000 $554,231 $6,522 6.86%
MIDLAND, MI (FHA|USDA|VA) 20 $6,520,000 $326,000 $5,019 7.14%
Mount Pleasant, MI (FHA|USDA|VA) 30 $4,520,000 $150,667 $3,688 7.01%
BATTLE CREEK, MI (FHA|USDA|VA) 14 $4,390,000 $313,571 $5,874 6.94%
Adrian, MI (FHA|USDA|VA) 13 $4,315,000 $331,923 $3,354 6.72%
SAGINAW, MI (FHA|USDA|VA) 14 $4,230,000 $302,143 $5,058 7.15%
MUSKEGON, MI (FHA|USDA|VA) 11 $3,215,000 $292,273 $5,765 6.71%
Alma, MI (FHA|USDA|VA) 11 $2,365,000 $215,000 $4,907 6.81%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 7 $2,215,000 $316,429 $4,117 6.86%
Hillsdale, MI (FHA|USDA|VA) 8 $2,180,000 $272,500 $3,979 6.72%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $1,995,000 $665,000 $7,048 6.79%
Big Rapids, MI (FHA|USDA|VA) 10 $1,880,000 $188,000 $4,106 7.24%
Seneca, SC (FHA|USDA|VA) 1 $1,605,000 $1,605,000 $9,096 7.99%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,600,000 $800,000 $7,935 6.38%
MADISON, WI (FHA|USDA|VA) 2 $1,350,000 $675,000 $3,497 6.50%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 3 $1,345,000 $448,333 $5,417 6.25%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $1,295,000 $431,667 $6,748 6.92%
MONROE, MI (FHA|USDA|VA) 4 $1,280,000 $320,000 $3,927 6.37%
BAY CITY, MI (FHA|USDA|VA) 4 $1,070,000 $267,500 $4,228 6.87%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $1,065,000 $355,000 $6,191 7.04%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $965,000 $965,000 $5,599 6.75%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $855,000 $855,000 $8,520 6.50%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $845,000 $845,000 $6,667 5.88%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $800,000 $400,000 $6,441 7.25%
Cadillac, MI (FHA|USDA|VA) 3 $775,000 $258,333 $5,396 7.29%
TOLEDO, OH (FHA|USDA|VA) 2 $760,000 $380,000 $4,405 7.31%
NILES, MI (FHA|USDA|VA) 2 $740,000 $370,000 $5,360 6.63%
Ludington, MI (FHA|USDA|VA) 2 $670,000 $335,000 $3,382 6.19%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $605,000 $605,000 $4,750 5.99%
Sturgis, MI (FHA|USDA|VA) 2 $540,000 $270,000 $4,190 7.62%
COLUMBUS, OH (FHA|USDA|VA) 1 $535,000 $535,000 $4,602 7.25%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $505,000 $505,000 $6,606 5.99%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $495,000 $165,000 $3,517 7.91%
LOUISVILLE, KY (FHA|USDA|VA) 1 $495,000 $495,000 $4,476 6.99%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $455,000 $455,000 $4,476 6.25%
COLUMBIA, MO (FHA|USDA|VA) 1 $435,000 $435,000 $2,557 7.74%
TUCSON, AZ (FHA|USDA|VA) 1 $395,000 $395,000 $5,037 6.63%
WILMINGTON, NC (FHA|USDA|VA) 1 $395,000 $395,000 $10,974 5.88%
MORRISTOWN, TN (FHA|USDA|VA) 1 $385,000 $385,000 $6,231 7.25%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $375,000 $375,000 $5,315 6.38%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $375,000 $375,000 $7,934 5.99%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $345,000 $345,000 $8,551 6.50%
FORT WAYNE, IN (FHA|USDA|VA) 2 $340,000 $170,000 $2,537 6.99%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $295,000 $295,000 $6,555 6.88%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $275,000 $275,000 $4,326 6.74%
PITTSBURGH, PA (FHA|USDA|VA) 2 $260,000 $130,000 $3,969 6.69%
Hannibal, MO (FHA|USDA|VA) 1 $245,000 $245,000 $3,253 7.25%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $245,000 $245,000 $4,399 7.24%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $245,000 $245,000 $3,348 7.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $235,000 $235,000 $3,675 7.99%
Angola, IN (FHA|USDA|VA) 1 $225,000 $225,000 $4,409 6.50%
Marietta, OH (FHA|USDA|VA) 1 $225,000 $225,000 $4,285 5.99%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $215,000 $215,000 $3,554 5.99%
Lake City, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,591 7.13%
Marquette, MI (FHA|USDA|VA) 1 $165,000 $165,000 $4,529 7.13%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $115,000 $115,000 $4,060 5.99%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $115,000 $115,000 $0 7.38%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $55,000 $55,000 $465 8.99%
The Dart Bank's top markets include Lansing, Detroit, Grand Rapids, Jackson, and Ann Arbor among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against The Dart Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Michigan Legacy Credit Union
    Similarity Rank: 15
    TLC COMMUNITY Credit Union
    Similarity Rank: 45
    MARSHALL COMMUNITY CREDIT UNION
    Similarity Rank: 90
    Total Community Credit Union
    Similarity Rank: 94
    United Bank of Michigan
    Similarity Rank: 98
    St James Mortgage Corporation
    Similarity Rank: 104
    Adventure Credit Union
    Similarity Rank: 130
    MEMBERFOCUS COMMUNITY
    Similarity Rank: 162
    Macatawa Bank
    Similarity Rank: 168

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,607 $477,555,000 $297,172 $4,107 6.94%
    FHA 88 $18,420,000 $209,318 $8,055 6.90%
    VA 30 $9,790,000 $326,333 $8,111 6.59%
    USDA 3 $635,000 $211,667 $6,491 6.75%

    For 2023, The Dart Bank's most frequently originated type of loan was Conventional, with 1,607 originations. Their 2nd most popular type was FHA, with 88 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,543 $480,965,000 $311,708 $4,624 6.82%
    Home Improvement 58 $5,150,000 $88,793 $1,526 8.32%
    Other 51 $4,015,000 $78,725 $1,286 8.44%
    Cash Out Refi 50 $11,260,000 $225,200 $3,713 7.15%
    Refi 26 $5,010,000 $192,692 $4,079 7.27%

    For 2023, The Dart Bank's most frequently cited loan purpose was Home Purchase, with 1,543 originations. The 2nd most popular reason was Home Improvement, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,303 $334,575,000 $256,773 $4,344 6.86%
    30+ year 291 $153,095,000 $526,100 $5,749 6.77%
    20 Year 59 $5,835,000 $98,898 $1,240 8.77%
    15 Year 36 $3,210,000 $89,167 $1,677 7.52%
    5 Year 19 $6,075,000 $319,737 $340 7.33%
    10 Year 15 $935,000 $62,333 $597 8.04%
    Other 5 $2,675,000 $535,000 $5,951 6.18%

    For 2023, The Dart Bank's most frequently cited loan duration was 30 Year, with 1,303 originations. The 2nd most popular length was 30+ year, with 291 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,157 $373,965,000 $323,220
    $2k-3k 201 $47,075,000 $234,204
    $<1k 92 $5,680,000 $61,739
    $3k-4k 90 $25,910,000 $287,889
    $5k+ 62 $21,540,000 $347,419
    $4k-5k 47 $15,995,000 $340,319

    The Dart Bank's average total fees were $4,344, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,157 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 863 $246,785,000 $285,962
    7-8% 457 $125,095,000 $273,731
    5-6% 256 $105,910,000 $413,711
    Over 8% 143 $22,645,000 $158,357
    4-5% 8 $4,770,000 $596,250
    3-4% 1 $1,195,000 $1,195,000

    During 2023, The Dart Bank's average interest rate for loans was 6.86%, while their most frequently originated rate bucket for loans was 6-7%, with 863 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 692 $195,060,000 $281,879 $4,826 6.83%
    $100k-200k 461 $69,955,000 $151,746 $3,831 6.93%
    $400k-600k 235 $114,435,000 $486,957 $5,276 6.76%
    $100,000 or less 216 $13,780,000 $63,796 $1,940 7.67%
    $600k-1MM 97 $73,175,000 $754,381 $5,620 6.66%
    $1MM+ 27 $39,995,000 $1,481,296 $7,457 6.26%

    2023 saw The Dart Bank place emphasis on $200k-400k loans with 692 originations, totaling $195,060,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 425 $111,395,000 $262,106 $4,377 6.97%
    $150k-250k 353 $130,395,000 $369,391 $4,621 6.95%
    $50k-75k 303 $50,835,000 $167,772 $3,794 6.98%
    $75k-100k 285 $61,215,000 $214,789 $4,578 6.95%
    $250k+ 199 $126,725,000 $636,809 $5,339 6.78%
    $50k or less 141 $16,465,000 $116,773 $3,691 6.84%

    The Dart Bank lent most frequently to those with incomes in the $100k-150k range, with 425 originations. The second most popular income band? $150k-250k, with 353 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 326 $97,150,000 $298,006 $4,258 6.95%
    20-30% 280 $74,660,000 $266,643 $3,940 6.82%
    42% 115 $32,795,000 $285,174 $4,202 7.03%
    <20% 86 $24,280,000 $282,326 $4,080 6.84%
    41% 83 $22,015,000 $265,241 $4,499 6.86%
    40% 81 $26,245,000 $324,012 $4,148 6.91%
    37% 78 $24,070,000 $308,590 $4,315 6.86%
    36% 78 $21,860,000 $280,256 $4,178 6.97%
    44% 78 $25,350,000 $325,000 $5,154 6.84%
    39% 74 $20,840,000 $281,622 $3,997 6.95%
    45% 70 $21,170,000 $302,429 $4,303 7.11%
    43% 69 $20,255,000 $293,551 $5,291 7.07%
    38% 68 $19,120,000 $281,176 $3,804 6.98%
    48% 52 $15,320,000 $294,615 $4,522 6.82%
    49% 48 $15,210,000 $316,875 $5,203 7.09%
    47% 45 $12,775,000 $283,889 $5,011 7.02%
    46% 45 $13,565,000 $301,444 $5,168 6.95%
    50-60% 34 $11,990,000 $352,647 $7,535 7.12%
    >60% 1 $165,000 $165,000 $0 10.49%

    The Dart Bank lent most frequently to those with DTI ratios of 30-36%, with 326 originations. The next most common DTI ratio? 20-30%, with 280 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,395 $389,905,000 $279,502 $4,332 6.94%
    Not provided 156 $51,030,000 $327,115 $4,473 6.96%
    Asian 105 $41,095,000 $391,381 $5,166 6.84%
    Black 46 $15,090,000 $328,043 $4,523 6.84%
    Not applicable 13 $6,165,000 $474,231 $0 6.95%
    American Indian 13 $3,115,000 $239,615 $3,844 6.79%

    Approval Rates

    Total approvals of all applications
    95.37%

    The Dart 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 origination
    73.84%

    The Dart Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,728 $506,400,000 $293,056

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,728 $506,400,000 $293,056

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 76 $8,080,000 $106,316 $1,887 7.79%
    40-60% 119 $27,965,000 $235,000 $3,993 6.92%
    60-80% 466 $144,100,000 $309,227 $4,421 6.88%
    80-100% 999 $320,915,000 $321,236 $4,782 6.80%
    Over 100% 4 $1,590,000 $397,500 $15,951 6.75%
    Under 20% 64 $3,750,000 $58,594 $716 8.42%