American State Bank Mortgage Rates, Fees & Info

Sioux Center, IA

LEI: 549300BNZVNK1XN85P72

Tax ID: 42-0318300

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    American 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.

    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 6.83% 12/16/24
    30 Year Conventional Refi 6.74% 12/16/24
    30 Year Cash-out Refi 6.58% 12/16/24
    30 Year USDA Purchase 6.27% 12/16/24
    15 Year Conventional Purchase 6.13% 12/16/24
    15 Year Conventional Refi 6.21% 12/16/24
    15 Year Cash-out Refi 6.21% 12/16/24
    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.

    American State Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from American 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

    387

    Origination Dollar Volume (All Markets)

    $118,665,000

    Awards

    American State Bank 30 Year Conventional Loans gold American State Bank 30 Year Conventional Loans silver American State Bank 30 Year Conventional Loans silver
    Show all (3) awards

    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
    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%
    American State Bank's top markets include Rapid City, Sioux Falls, Spencer, Spirit Lake, and Storm Lake among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)

    • Similar Lenders

    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.

    American State Bank
    Similarity Rank: 288
    The First National Bank in Sioux Falls
    Similarity Rank: 364
    SIOUX FALLS
    Similarity Rank: 378
    CU MORTGAGE DIRECT, LLC
    Similarity Rank: 741
    IOWA BANKERS MORTGAGE CORPORATION
    Similarity Rank: 806
    BLACK HILLS FEDERAL CREDIT UNION
    Similarity Rank: 810
    American Bank & Trust
    Similarity Rank: 810
    Reliabank Dakota
    Similarity Rank: 984
    Dacotah Bank
    Similarity Rank: 1258
    Central Bank
    Similarity Rank: 1300

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 387 $118,665,000 $306,628 $2,409 4.73%

    For 2022, American State Bank's most frequently originated type of loan was Conventional, with 387 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 290 $93,810,000 $323,483 $2,459 4.82%
    Refi 71 $20,455,000 $288,099 $1,865 4.62%
    Cash Out Refi 21 $3,325,000 $158,333 $2,792 4.14%
    Other 5 $1,075,000 $215,000 $2,707 3.43%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 175 $40,485,000 $231,343 $2,740 4.83%
    Other 78 $45,820,000 $587,436 $1,595 4.76%
    20 Year 63 $20,955,000 $332,619 $2,158 4.96%
    15 Year 59 $9,015,000 $152,797 $1,915 4.04%
    10 Year 6 $1,340,000 $223,333 $1,763 4.35%
    5 Year 4 $650,000 $162,500 $0 6.50%
    1 Year 2 $400,000 $200,000 $0 4.50%

    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
    $<1k 135 $29,485,000 $218,407
    $1k-2k 72 $16,030,000 $222,639
    $2k-3k 25 $6,985,000 $279,400
    $3k-4k 10 $3,140,000 $314,000
    $4k-5k 8 $2,210,000 $276,250
    $5k+ 4 $1,400,000 $350,000

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 150 $35,840,000 $238,933
    5-6% 85 $20,175,000 $237,353
    3-4% 85 $46,905,000 $551,824
    6-7% 47 $11,475,000 $244,149
    <2.5% 11 $2,795,000 $254,091
    2.5-3% 6 $1,150,000 $191,667
    7-8% 2 $290,000 $145,000
    Over 8% 1 $35,000 $35,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 153 $41,275,000 $269,771 $2,726 4.68%
    $100k-200k 124 $18,650,000 $150,403 $2,065 4.77%
    $100,000 or less 64 $4,250,000 $66,406 $1,718 4.97%
    $400k-600k 24 $11,720,000 $488,333 $2,541 4.47%
    $1MM+ 11 $34,565,000 $3,142,273 $1,700 4.45%
    $600k-1MM 11 $8,205,000 $745,909 $4,378 4.30%

    2022 saw American State Bank place emphasis on $200k-400k loans with 153 originations, totaling $41,275,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 66 $13,660,000 $206,970 $2,221 4.91%
    $100k-150k 65 $16,875,000 $259,615 $2,413 4.76%
    $75k-100k 61 $13,015,000 $213,361 $2,695 4.66%
    $50k or less 51 $6,335,000 $124,216 $1,776 4.76%
    $250k+ 31 $9,085,000 $293,065 $2,666 4.38%
    $150k-250k 24 $7,760,000 $323,333 $3,357 4.67%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 69 $15,625,000 $226,449 $2,577 4.66%
    30-36% 65 $14,085,000 $216,692 $2,170 4.77%
    <20% 38 $8,700,000 $228,947 $2,173 4.54%
    42% 12 $2,350,000 $195,833 $2,873 4.84%
    44% 12 $2,300,000 $191,667 $3,506 5.01%
    38% 11 $2,505,000 $227,727 $2,462 5.03%
    41% 10 $2,450,000 $245,000 $2,078 4.11%
    39% 9 $1,725,000 $191,667 $2,372 4.15%
    36% 8 $1,640,000 $205,000 $2,421 4.80%
    45% 6 $1,260,000 $210,000 $2,510 4.88%
    40% 6 $1,800,000 $300,000 $2,566 5.10%
    47% 6 $1,300,000 $216,667 $1,688 4.81%
    50-60% 5 $1,375,000 $275,000 $2,383 5.38%
    >60% 4 $1,520,000 $380,000 $1,422 4.68%
    43% 4 $1,090,000 $272,500 $3,624 4.84%
    37% 2 $870,000 $435,000 $2,806 5.06%
    46% 2 $500,000 $250,000 $1,955 3.94%
    48% 1 $225,000 $225,000 $3,193 4.75%
    49% 1 $275,000 $275,000 $2,849 4.63%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 263 $59,915,000 $227,814 $2,382 4.70%
    Not applicable 84 $49,550,000 $589,881 $0 4.75%
    Not provided 36 $8,350,000 $231,944 $2,657 4.72%
    Asian 2 $580,000 $290,000 $1,718 5.56%
    American Indian 1 $145,000 $145,000 $2,054 6.00%
    Black 1 $125,000 $125,000 $1,648 6.25%

    Approval Rates

    Total approvals of all applications
    96.43%

    American State 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
    89.15%

    American State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 387 $118,665,000 $306,628

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    387 $118,665,000 $306,628

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $7,575,000 $303,000 $1,579 5.07%
    40-60% 43 $12,135,000 $282,209 $1,873 4.41%
    60-80% 126 $51,050,000 $405,159 $2,478 4.68%
    80-100% 154 $39,240,000 $254,805 $2,606 4.80%
    Over 100% 2 $520,000 $260,000 $383 3.45%
    Under 20% 37 $8,145,000 $220,135 $1,008 4.76%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    AMERIS BANCORP Conventional home mortgage Trouble during payment process 1 100.0%