Edmonton State Bank Mortgage Rates, Fees & Info

Glasgow, KY

LEI: 549300AJ6XFK1ACXWQ06

Tax ID: 61-0182805

5 stars - Updated: 3/29/24 - out of 5 stars, based on 21 reviews

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

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Mortgage Data

Review & Overview

Edmonton State Bank is a smaller bank specializing in Home Purchase loans. Edmonton State Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Glasgow, Bowling Green, Nashville, Crestview, and Campbellsville among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Edmonton State 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. Edmonton State 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 6.74% 3/29/24
30 Year Conventional Refi 6.63% 3/29/24
30 Year Cash-out Refi 7.05% 3/29/24
30 Year FHA Purchase 6.27% 3/29/24
30 Year VA Refi 6.27% 3/29/24
30 Year USDA Purchase 6.73% 3/29/24
15 Year Conventional Purchase 6.00% 3/29/24
15 Year Conventional Refi 5.99% 3/29/24
15 Year Cash-out Refi 5.99% 3/29/24
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.

Edmonton State Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Edmonton State 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

452

Origination Dollar Volume (All Markets)

$80,960,000

Awards

Edmonton State Bank 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

Edmonton State Bank's average 30 year fixed mortgage rate was 7.17%.

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

This yields a difference of 0.69%.

Relative Fees (Closing Costs)

Edmonton State Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,322.

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
Glasgow, KY (FHA|USDA|VA) 241 $34,155,000 $141,722 $2,714 7.43%
BOWLING GREEN, KY (FHA|USDA|VA) 104 $24,590,000 $236,442 $3,128 7.30%
Outside of Metro Areas 74 $11,370,000 $153,649 $3,325 7.35%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 23 $7,345,000 $319,348 $4,249 8.20%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,315,000 $1,315,000 $0 7.75%
Campbellsville, KY (FHA|USDA|VA) 4 $1,040,000 $260,000 $3,887 6.97%
Oxford, MS (FHA|USDA|VA) 1 $365,000 $365,000 $0 7.75%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $355,000 $355,000 $0 7.00%
LOUISVILLE, KY (FHA|USDA|VA) 1 $195,000 $195,000 $2,818 7.63%
Murray, KY (FHA|USDA|VA) 1 $165,000 $165,000 $0 7.75%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 1 $65,000 $65,000 $2,130 6.63%
Edmonton State Bank's top markets include Glasgow, Bowling Green, Nashville, Crestview, and Campbellsville among others.

Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Similar Lenders

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

    SERVICE ONE
    Similarity Rank: 54
    Abound Federal Credit Union
    Similarity Rank: 105
    Independence Bank of Kentucky
    Similarity Rank: 128
    First Federal Savings Bank
    Similarity Rank: 150
    ROSS MORTGAGE CORPORATION
    Similarity Rank: 348
    Edmonton State Bank
    Similarity Rank: 374
    German American Bank
    Similarity Rank: 950
    SOUTH CENTRAL BANK, INC.
    Similarity Rank: 1144
    FBC MORTGAGE, LLC
    Similarity Rank: 1152

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 443 $79,655,000 $179,808 $2,886 7.44%
    USDA 9 $1,305,000 $145,000 $5,128 6.67%

    For 2023, Edmonton State Bank's most frequently originated type of loan was Conventional, with 443 originations. Their 2nd most popular type was USDA, with 9 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 308 $62,340,000 $202,403 $3,351 7.36%
    Refi 87 $12,585,000 $144,655 $2,236 7.53%
    Home Improvement 29 $1,675,000 $57,759 $1,924 7.58%
    Other 19 $2,995,000 $157,632 $2,267 7.91%
    Cash Out Refi 9 $1,365,000 $151,667 $2,963 6.96%

    For 2023, Edmonton State Bank's most frequently cited loan purpose was Home Purchase, with 308 originations. The 2nd most popular reason was Refi, with 87 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 198 $37,390,000 $188,838 $3,322 7.17%
    20 Year 96 $12,980,000 $135,208 $2,342 7.55%
    15 Year 38 $3,320,000 $87,368 $2,157 7.39%
    1 Year 38 $7,030,000 $185,000 $2,897 7.52%
    Other 34 $14,830,000 $436,176 $4,880 7.49%
    10 Year 34 $1,840,000 $54,118 $1,999 8.30%
    5 Year 10 $3,200,000 $320,000 $1,816 7.70%
    3 Year 2 $50,000 $25,000 $1,067 7.75%
    30+ year 2 $320,000 $160,000 $0 7.25%

    For 2023, Edmonton State Bank's most frequently cited loan duration was 30 Year, with 198 originations. The 2nd most popular length was 20 Year, with 96 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 122 $10,040,000 $82,295
    $<1k 87 $12,595,000 $144,770
    $2k-3k 73 $13,745,000 $188,288
    $3k-4k 33 $8,585,000 $260,152
    $4k-5k 9 $3,905,000 $433,889
    $5k+ 5 $2,735,000 $547,000

    Edmonton State Bank's average total fees were $3,322, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 122 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 236 $45,760,000 $193,898
    6-7% 146 $25,970,000 $177,877
    Over 8% 57 $6,285,000 $110,263
    5-6% 9 $2,085,000 $231,667
    <2.5% 2 $90,000 $45,000
    4-5% 2 $770,000 $385,000

    During 2023, Edmonton State Bank's average interest rate for loans was 7.17%, while their most frequently originated rate bucket for loans was 7-8%, with 236 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 168 $10,000,000 $59,524 $2,040 7.62%
    $100k-200k 153 $22,405,000 $146,438 $2,980 7.30%
    $200k-400k 101 $26,805,000 $265,396 $3,981 7.31%
    $400k-600k 17 $7,855,000 $462,059 $4,825 7.09%
    $600k-1MM 7 $5,395,000 $770,714 $7,136 7.72%
    $1MM+ 6 $8,500,000 $1,416,667 $8,542 7.29%

    2023 saw Edmonton State Bank place emphasis on $100,000 or less loans with 168 originations, totaling $10,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 95 $9,065,000 $95,421 $2,516 7.33%
    $50k-75k 94 $11,760,000 $125,106 $3,000 7.30%
    $75k-100k 70 $11,030,000 $157,571 $2,836 7.42%
    $100k-150k 68 $12,360,000 $181,765 $2,998 7.43%
    $150k-250k 31 $7,215,000 $232,742 $4,061 7.58%
    $250k+ 30 $10,570,000 $352,333 $4,956 7.63%

    Edmonton State Bank lent most frequently to those with incomes in the $50k or less range, with 95 originations. The second most popular income band? $50k-75k, with 94 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 89 $12,245,000 $137,584 $2,702 7.37%
    30-36% 83 $12,995,000 $156,566 $3,119 7.54%
    <20% 37 $4,775,000 $129,054 $2,666 7.23%
    43% 21 $3,605,000 $171,667 $4,121 7.10%
    >60% 16 $3,580,000 $223,750 $3,165 7.53%
    37% 15 $2,795,000 $186,333 $2,632 7.17%
    39% 14 $2,200,000 $157,143 $2,648 7.78%
    40% 14 $2,140,000 $152,857 $3,035 7.28%
    41% 14 $1,970,000 $140,714 $2,134 7.27%
    38% 14 $2,100,000 $150,000 $3,361 7.25%
    50-60% 13 $2,485,000 $191,154 $3,061 7.12%
    36% 11 $1,115,000 $101,364 $2,509 7.68%
    45% 11 $1,425,000 $129,545 $2,977 7.40%
    44% 10 $2,160,000 $216,000 $3,930 7.39%
    42% 8 $1,600,000 $200,000 $2,618 7.20%
    48% 7 $965,000 $137,857 $3,024 7.52%
    47% 2 $350,000 $175,000 $3,373 6.54%
    46% 1 $45,000 $45,000 $1,809 7.50%
    49% 1 $75,000 $75,000 $3,755 6.88%

    Edmonton State Bank lent most frequently to those with DTI ratios of 20-30%, with 89 originations. The next most common DTI ratio? 30-36%, with 83 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 383 $61,515,000 $160,614 $2,840 7.43%
    Not applicable 53 $16,095,000 $303,679 $3,603 7.54%
    Not provided 8 $1,570,000 $196,250 $5,314 6.56%
    Asian 2 $1,080,000 $540,000 $9,302 6.90%
    Black 5 $595,000 $119,000 $3,383 7.55%
    Asian Indian 1 $105,000 $105,000 $2,605 6.25%

    Approval Rates

    Total approvals of all applications
    85.14%

    Edmonton State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.83%

    Edmonton State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 452 $80,960,000 $179,115

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    452 $80,960,000 $179,115

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 75 $7,385,000 $98,467 $2,376 7.54%
    40-60% 63 $12,675,000 $201,190 $2,901 7.24%
    60-80% 111 $26,165,000 $235,721 $3,149 7.48%
    80-100% 142 $29,360,000 $206,761 $3,458 7.36%
    Over 100% 14 $2,260,000 $161,429 $4,545 7.25%
    Under 20% 47 $3,115,000 $66,277 $1,602 7.57%