Dearborn Savings Bank Mortgage Rates, Fees & Info

LAWRENCEBURG, IN

LEI: 549300A0WF7QPCOSXF45

Tax ID: 35-0264895

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    Dearborn Savings Bank is a smaller bank specializing in Home Purchase loans. Dearborn Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Cincinnati, Indianapolis, Detroit, Sevierville, and Greensburg among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Dearborn Savings Bank 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. Dearborn Savings 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 about average 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.

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    Originations

    110

    Origination Dollar Volume (All Markets)

    $20,650,000

    Awards

    Dearborn Savings Bank 30 Year Conventional Loans silver Dearborn Savings Bank 30 Year Conventional Loans silver
    Show all (2) awards

    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
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 97 $18,855,000 $194,381 $1,994 4.78%
    Outside of Metro Areas 8 $1,090,000 $136,250 $1,827 4.98%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $380,000 $190,000 $0 4.50%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $185,000 $185,000 $2,456 4.25%
    Sevierville, TN (FHA|USDA|VA) 1 $85,000 $85,000 $2,308 5.38%
    Greensburg, IN (FHA|USDA|VA) 1 $55,000 $55,000 $1,330 4.75%
    Dearborn Savings Bank's top markets include Cincinnati, Indianapolis, Detroit, Sevierville, and Greensburg among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Similar Lenders

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

    MIAMI UNIVERSITY COMMUNITY
    Similarity Rank: 120
    CINCINNATI OHIO POLICE
    Similarity Rank: 172
    RIVER VALLEY CREDIT UNION, INC.
    Similarity Rank: 324
    CINFED Federal Credit Union
    Similarity Rank: 385
    Dearborn Savings Bank
    Similarity Rank: 510
    OPTION FINANCIAL, LLC
    Similarity Rank: 522
    Somerville Bank
    Similarity Rank: 612
    Forcht Bank
    Similarity Rank: 810
    The Friendship State Bank
    Similarity Rank: 820
    Civista Bank
    Similarity Rank: 840

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 110 $20,650,000 $187,727 $1,988 4.79%

    For 2018, Dearborn Savings Bank's most frequently originated type of loan was Conventional, with 110 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 73 $15,715,000 $215,274 $2,167 4.75%
    Cash Out Refi 23 $3,165,000 $137,609 $1,472 4.98%
    Refi 14 $1,770,000 $126,429 $1,875 4.69%

    For 2018, Dearborn Savings Bank's most frequently cited loan purpose was Home Purchase, with 73 originations. The 2nd most popular reason was Cash Out Refi, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 78 $16,200,000 $207,692 $2,148 4.85%
    15 Year 13 $1,625,000 $125,000 $1,658 4.64%
    20 Year 7 $825,000 $117,857 $1,456 4.89%
    Other 7 $1,715,000 $245,000 $2,521 4.41%
    10 Year 3 $215,000 $71,667 $1,551 4.63%
    5 Year 2 $70,000 $35,000 $630 4.75%

    For 2018, Dearborn Savings Bank's most frequently cited loan duration was 30 Year, with 78 originations. The 2nd most popular length was 15 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 48 $10,970,000 $228,542
    $1k-2k 1 $65,000 $65,000

    Dearborn Savings Bank's average total fees were $2,148, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 48 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 68 $14,910,000 $219,265
    5-6% 29 $3,165,000 $109,138
    3-4% 12 $2,540,000 $211,667
    6-7% 1 $35,000 $35,000

    During 2018, Dearborn Savings Bank's average interest rate for loans was 4.85%, while their most frequently originated rate bucket for loans was 4-5%, with 68 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 38 $5,460,000 $143,684 $1,869 4.91%
    $200k-400k 33 $9,075,000 $275,000 $2,306 4.55%
    $100,000 or less 32 $2,090,000 $65,313 $1,471 4.97%
    $400k-600k 4 $1,870,000 $467,500 $2,764 4.44%
    $600k-1MM 3 $2,155,000 $718,333 $4,409 4.54%

    2018 saw Dearborn Savings Bank place emphasis on $100k-200k loans with 38 originations, totaling $5,460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 28 $4,590,000 $163,929 $1,659 4.77%
    $100k-150k 26 $5,480,000 $210,769 $2,252 4.72%
    $250k+ 16 $5,050,000 $315,625 $2,660 4.85%
    $150k-250k 14 $3,320,000 $237,143 $2,266 4.71%
    $50k-75k 13 $1,265,000 $97,308 $1,772 5.04%
    $50k or less 12 $860,000 $71,667 $1,635 4.73%

    Dearborn Savings Bank lent most frequently to those with incomes in the $75k-100k range, with 28 originations. The second most popular income band? $100k-150k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 32 $6,090,000 $190,313 $1,997 4.84%
    <20% 27 $4,815,000 $178,333 $1,961 4.89%
    30-36% 16 $3,430,000 $214,375 $1,937 4.47%
    39% 6 $1,370,000 $228,333 $2,319 4.56%
    42% 6 $1,180,000 $196,667 $2,082 5.14%
    40% 4 $600,000 $150,000 $1,911 4.53%
    37% 4 $660,000 $165,000 $2,371 4.94%
    41% 3 $635,000 $211,667 $2,318 4.46%
    38% 3 $515,000 $171,667 $2,589 4.88%
    36% 3 $285,000 $95,000 $1,583 4.50%
    44% 2 $340,000 $170,000 $1,706 5.25%
    50-60% 2 $410,000 $205,000 $1,851 4.56%
    43% 1 $35,000 $35,000 $331 6.75%

    Dearborn Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? <20%, with 27 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 105 $18,485,000 $176,048 $1,963 4.80%
    Asian 2 $970,000 $485,000 $3,209 4.56%
    Not provided 2 $950,000 $475,000 $1,265 4.63%
    Native Hawaiian or Islander 1 $245,000 $245,000 $1,874 5.13%

    Approval Rates

    Total approvals of all applications
    83.75%

    Dearborn Savings Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.00%

    Dearborn Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 3 $735,000 $245,000
    150.0 1 $115,000 $115,000
    1814.69 1 $165,000 $165,000
    550.0 4 $680,000 $170,000
    NA 101 $18,955,000 $187,673

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 110 $20,650,000 $187,727

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $490,000 $81,667 $916 4.95%
    40-60% 9 $745,000 $82,778 $2,022 4.71%
    60-80% 39 $6,705,000 $171,923 $2,097 4.75%
    80-100% 52 $12,540,000 $241,154 $2,180 4.82%
    Under 20% 3 $105,000 $35,000 $655 4.93%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Draper and Kramer Mortgage Corp. FHA mortgage Trouble during payment process 1 100.0%