Montecito Bank & Trust Mortgage Rates, Fees & Info
Santa Barbara, CALEI: 549300A7BPOO2YO2YE30
Tax ID: 95-2900153
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Mortgage Data
Review & Overview
Montecito Bank & Trust is a smaller bank specializing in Home Purchase loans. Montecito Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Santa Maria, Los Angeles, Oxnard, San Luis Obispo, and Anchorage among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Montecito Bank & Trust 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
83Origination Dollar Volume (All Markets)
$91,945,000Top 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 |
|---|---|---|---|---|---|
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 55 | $60,005,000 | $1,091,000 | $0 | 0.00% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 6 | $13,730,000 | $2,288,333 | $0 | 0.00% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 17 | $13,245,000 | $779,118 | $0 | 0.00% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $2,140,000 | $1,070,000 | $0 | 0.00% |
| ANCHORAGE, AK (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $820,000 | $410,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Montecito Bank & Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 83 | $91,945,000 | $1,107,771 | $0 | 0.00% |
For 2023, Montecito Bank & Trust's most frequently originated type of loan was Conventional, with 83 originations.
Loan Reason
For 2023, Montecito Bank & Trust's most frequently cited loan purpose was Home Purchase, with 59 originations. The 2nd most popular reason was Refi, with 14 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 83 | $91,945,000 | $1,107,771 | $0 | 0.00% |
For 2023, Montecito Bank & Trust's most frequently cited loan duration was Other, with 83 originations.
Loan Sizing
2023 saw Montecito Bank & Trust place emphasis on $1MM+ loans with 29 originations, totaling $60,675,000 in origination value.
Applicant Income
Montecito Bank & Trust lent most frequently to those with incomes in the $250k+ range, with 27 originations. The second most popular income band? $150k-250k, with 15 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 83 | $91,945,000 | $1,107,771 | $0 | 0.00% |
Montecito Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 83 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.74%
Montecito Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination67.47%
Montecito Bank & Trust has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 83 | $91,945,000 | $1,107,771 |