Wells Bank Mortgage Rates, Fees & Info

Platte City, MO

LEI: 549300BJ6EOJ9EF6JB96

Tax ID: 44-0482800

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Mortgage Data

Review & Overview

Wells Bank is a smaller bank specializing in Home Purchase loans. Wells Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kansas City, Columbia, Kirksville, St. Joseph, and Maryville among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Wells 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.

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Originations

168

Origination Dollar Volume (All Markets)

$41,080,000

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
KANSAS CITY, MO-KS (FHA|USDA|VA) 72 $23,660,000 $328,611 $0 0.00%
COLUMBIA, MO (FHA|USDA|VA) 29 $5,495,000 $189,483 $0 0.00%
Outside of Metro Areas 11 $3,275,000 $297,727 $0 0.00%
Kirksville, MO (FHA|USDA|VA) 23 $2,825,000 $122,826 $0 0.00%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 12 $1,810,000 $150,833 $0 0.00%
Maryville, MO (FHA|USDA|VA) 10 $1,730,000 $173,000 $0 0.00%
Warrensburg, MO (FHA|USDA|VA) 5 $855,000 $171,000 $0 0.00%
JEFFERSON CITY, MO (FHA|USDA|VA) 2 $620,000 $310,000 $0 0.00%
WICHITA, KS (FHA|USDA|VA) 2 $610,000 $305,000 $0 0.00%
LINCOLN, NE (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Atchison, KS (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Wells Bank's top markets include Kansas City, Columbia, Kirksville, St. Joseph, and Maryville among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 168 $41,080,000 $244,524 $0 0.00%

    For 2023, Wells Bank's most frequently originated type of loan was Conventional, with 168 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 122 $31,960,000 $261,967 $0 0.00%
    Refi 35 $7,295,000 $208,429 $0 0.00%
    Home Improvement 8 $990,000 $123,750 $0 0.00%
    Other 2 $270,000 $135,000 $0 0.00%
    Cash Out Refi 1 $565,000 $565,000 $0 0.00%

    For 2023, Wells Bank's most frequently cited loan purpose was Home Purchase, with 122 originations. The 2nd most popular reason was Refi, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 168 $41,080,000 $244,524 $0 0.00%

    For 2023, Wells Bank's most frequently cited loan duration was Other, with 168 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 61 $16,775,000 $275,000 $0 0.00%
    $100k-200k 55 $7,775,000 $141,364 $0 0.00%
    $100,000 or less 25 $1,445,000 $57,800 $0 0.00%
    $400k-600k 20 $9,400,000 $470,000 $0 0.00%
    $600k-1MM 6 $4,020,000 $670,000 $0 0.00%
    $1MM+ 1 $1,665,000 $1,665,000 $0 0.00%

    2023 saw Wells Bank place emphasis on $200k-400k loans with 61 originations, totaling $16,775,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 20 $2,660,000 $133,000 $0 0.00%
    $100k-150k 19 $5,015,000 $263,947 $0 0.00%
    $250k+ 18 $8,560,000 $475,556 $0 0.00%
    $75k-100k 15 $4,005,000 $267,000 $0 0.00%
    $150k-250k 11 $3,775,000 $343,182 $0 0.00%
    $50k or less 11 $1,075,000 $97,727 $0 0.00%

    Wells Bank lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $100k-150k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 168 $41,080,000 $244,524 $0 0.00%

    Wells Bank lent most frequently to those with DTI ratios of Exempt%, with 168 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 93 $24,755,000 $266,183 $0 0.00%
    Not applicable 73 $15,815,000 $216,644 $0 0.00%
    Not provided 2 $510,000 $255,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.65%

    Wells 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
    80.36%

    Wells Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 168 $41,080,000 $244,524

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    168 $41,080,000 $244,524