Kerndt Brothers Savings Bank Mortgage Rates, Fees & Info

Lansing, IA

LEI: 549300C1FRYGOIEXG035

Tax ID: 42-0356760

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Mortgage Data

Review & Overview

Kerndt Brothers Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Kerndt Brothers Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Cedar Rapids, Ottawa, Waterloo, Rochester, and Iowa City among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Kerndt Brothers Savings 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

98

Origination Dollar Volume (All Markets)

$19,530,000

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
Outside of Metro Areas 77 $13,295,000 $172,662 $0 0.00%
CEDAR RAPIDS, IA (FHA|USDA|VA) 11 $2,375,000 $215,909 $0 0.00%
Ottawa, IL (FHA|USDA|VA) 1 $1,575,000 $1,575,000 $0 0.00%
WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 3 $1,215,000 $405,000 $0 0.00%
ROCHESTER, MN (FHA|USDA|VA) 2 $470,000 $235,000 $0 0.00%
IOWA CITY, IA (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
Platteville, WI (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Kerndt Brothers Savings Bank's top markets include Cedar Rapids, Ottawa, Waterloo, Rochester, and Iowa City among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 98 $19,530,000 $199,286 $0 0.00%

    For 2022, Kerndt Brothers Savings Bank's most frequently originated type of loan was Conventional, with 98 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 46 $9,520,000 $206,957 $0 0.00%
    Refi 43 $8,885,000 $206,628 $0 0.00%
    Cash Out Refi 6 $970,000 $161,667 $0 0.00%
    Home Improvement 3 $155,000 $51,667 $0 0.00%

    For 2022, Kerndt Brothers Savings Bank's most frequently cited loan purpose was Home Purchase, with 46 originations. The 2nd most popular reason was Refi, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 98 $19,530,000 $199,286 $0 0.00%

    For 2022, Kerndt Brothers Savings Bank's most frequently cited loan duration was Other, with 98 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 40 $2,260,000 $56,500 $0 0.00%
    $100k-200k 26 $3,510,000 $135,000 $0 0.00%
    $200k-400k 21 $5,745,000 $273,571 $0 0.00%
    $400k-600k 8 $3,890,000 $486,250 $0 0.00%
    $1MM+ 3 $4,125,000 $1,375,000 $0 0.00%

    2022 saw Kerndt Brothers Savings Bank place emphasis on $100,000 or less loans with 40 originations, totaling $2,260,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 21 $3,065,000 $145,952 $0 0.00%
    $50k or less 20 $1,300,000 $65,000 $0 0.00%
    $100k-150k 14 $4,080,000 $291,429 $0 0.00%
    $50k-75k 14 $2,070,000 $147,857 $0 0.00%
    $250k+ 4 $1,310,000 $327,500 $0 0.00%

    Kerndt Brothers Savings Bank lent most frequently to those with incomes in the $75k-100k range, with 21 originations. The second most popular income band? $50k or less, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 98 $19,530,000 $199,286 $0 0.00%

    Kerndt Brothers Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 98 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 75 $12,305,000 $164,067 $0 0.00%
    Not applicable 23 $7,225,000 $314,130 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.67%

    Kerndt Brothers Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.76%

    Kerndt Brothers Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 98 $19,530,000 $199,286

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    98 $19,530,000 $199,286