American State Bank Mortgage Rates, Fees & InfoSioux Center, IA
Tax ID: 42-0318300
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewAmerican State Bank is a smaller bank specializing in Home Purchase loans. American State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Rapid City, Sioux Falls, Spencer, Spirit Lake, and Storm Lake among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)
American State 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. American 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 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.83%||4/2/23|
|30 Year Conventional Refi||6.74%||4/2/23|
|30 Year Cash-out Refi||6.58%||4/2/23|
|30 Year USDA Purchase||6.27%||4/2/23|
|15 Year Conventional Purchase||6.13%||4/2/23|
|15 Year Conventional Refi||6.21%||4/2/23|
|15 Year Cash-out Refi||6.21%||4/2/23|
|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.|
American State Bank Mortgage Calculator
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This is not an official calculator from American State Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$118,665,000
American State Bank's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.07%.
Relative Fees (Closing Costs)
American State Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,740.
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 $4,750.
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|
|Outside of Metro Areas||292||$66,090,000||$226,336||$2,243||4.78%|
|RAPID CITY, SD (FHA|USDA|VA)||3||$21,135,000||$7,045,000||$0||3.73%|
|SIOUX FALLS, SD (FHA|USDA|VA)||38||$13,610,000||$358,158||$2,897||4.60%|
|Spencer, IA (FHA|USDA|VA)||11||$3,765,000||$342,273||$0||4.21%|
|Spirit Lake, IA (FHA|USDA|VA)||10||$2,400,000||$240,000||$2,261||4.80%|
|Storm Lake, IA (FHA|USDA|VA)||2||$2,010,000||$1,005,000||$0||5.69%|
|PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA)||3||$1,405,000||$468,333||$3,899||3.73%|
|DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA)||4||$1,120,000||$280,000||$2,890||4.66%|
|AMES, IA (FHA|USDA|VA)||2||$1,080,000||$540,000||$1,578||4.63%|
|OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA)||3||$915,000||$305,000||$4,821||4.63%|
|SIOUX CITY, IA-NE-SD (FHA|USDA|VA)||3||$865,000||$288,333||$2,623||4.83%|
|COLORADO SPRINGS, CO (FHA|USDA|VA)||3||$675,000||$225,000||$0||5.08%|
|CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA)||2||$630,000||$315,000||$6,060||5.69%|
|CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA)||1||$605,000||$605,000||$2,673||4.75%|
|Durango, CO (FHA|USDA|VA)||1||$485,000||$485,000||$2,978||4.25%|
|Yankton, SD (FHA|USDA|VA)||1||$335,000||$335,000||$1,253||4.13%|
|MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA)||1||$325,000||$325,000||$5,186||3.75%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||1||$305,000||$305,000||$6,460||3.63%|
|ROCHESTER, MN (FHA|USDA|VA)||1||$265,000||$265,000||$3,546||4.13%|
|Shawnee, OK (FHA|USDA|VA)||1||$185,000||$185,000||$3,528||5.38%|
|Red Wing, MN (FHA|USDA|VA)||1||$135,000||$135,000||$1,807||2.50%|
|OKLAHOMA CITY, OK (FHA|USDA|VA)||1||$135,000||$135,000||$0||4.75%|
|Watertown, SD (FHA|USDA|VA)||1||$125,000||$125,000||$2,420||6.13%|
|KANSAS CITY, MO-KS (FHA|USDA|VA)||1||$65,000||$65,000||$0||3.75%|
We use machine learning to identify the top lenders compared against American State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, American State Bank's most frequently originated type of loan was Conventional, with 387 originations.
For 2022, American State Bank's most frequently cited loan purpose was Home Purchase, with 290 originations. The 2nd most popular reason was Refi, with 71 originations.
For 2022, American State Bank's most frequently cited loan duration was 30 Year, with 175 originations. The 2nd most popular length was Other, with 78 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
American State Bank's average total fees were $2,740, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 135 originations.
During 2022, American State Bank's average interest rate for loans was 4.83%, while their most frequently originated rate bucket for loans was 4-5%, with 150 originations.
2022 saw American State Bank place emphasis on $200k-400k loans with 153 originations, totaling $41,275,000 in origination value.
American State Bank lent most frequently to those with incomes in the $50k-75k range, with 66 originations. The second most popular income band? $100k-150k, with 65 originations.
Applicant Debt to Income Ratio
American State Bank lent most frequently to those with DTI ratios of 20-30%, with 69 originations. The next most common DTI ratio? 30-36%, with 65 originations.
Approval RatesTotal approvals of all applications
American State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
American State Bank has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2022 CPFB Complaints||% of Total Issues|
|AMERIS BANCORP||Conventional home mortgage||Trouble during payment process||1||100.0%|