Wells Bank Mortgage Rates, Fees & Info
Platte City, MOLEI: 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
168Origination Dollar Volume (All Markets)
$41,080,000Top 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 |
|---|---|---|---|---|---|
| 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% |
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
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
2023 saw Wells Bank place emphasis on $200k-400k loans with 61 originations, totaling $16,775,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications96.65%
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 origination80.36%
Wells Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 168 | $41,080,000 | $244,524 |