Flatirons Bank Mortgage Rates, Fees & Info

Boulder, CO

LEI: 549300FAQB5JZE5SG649

Tax ID: 84-1563906

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Mortgage Data

Review & Overview

Flatirons Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Flatirons Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boulder, Denver, and Naples among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

Flatirons 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

31

Origination Dollar Volume (All Markets)

$17,545,000

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
BOULDER, CO (FHA|USDA|VA) 21 $10,585,000 $504,048 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 9 $4,455,000 $495,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $2,505,000 $2,505,000 $0 0.00%
Flatirons Bank's top markets include Boulder, Denver, and Naples among others.

Their top states include:
  • Colorado (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 31 $17,545,000 $565,968 $0 0.00%

    For 2019, Flatirons Bank's most frequently originated type of loan was Conventional, with 31 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 18 $12,420,000 $690,000 $0 0.00%
    Cash Out Refi 8 $3,600,000 $450,000 $0 0.00%
    Refi 4 $1,220,000 $305,000 $0 0.00%
    Other 1 $305,000 $305,000 $0 0.00%

    For 2019, Flatirons Bank's most frequently cited loan purpose was Home Purchase, with 18 originations. The 2nd most popular reason was Cash Out Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 31 $17,545,000 $565,968 $0 0.00%

    For 2019, Flatirons Bank's most frequently cited loan duration was Other, with 31 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 10 $4,710,000 $471,000 $0 0.00%
    $200k-400k 7 $2,095,000 $299,286 $0 0.00%
    $100k-200k 5 $745,000 $149,000 $0 0.00%
    $600k-1MM 5 $4,095,000 $819,000 $0 0.00%
    $1MM+ 3 $5,815,000 $1,938,333 $0 0.00%
    $100,000 or less 1 $85,000 $85,000 $0 0.00%

    2019 saw Flatirons Bank place emphasis on $400k-600k loans with 10 originations, totaling $4,710,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 8 $5,170,000 $646,250 $0 0.00%
    $150k-250k 7 $4,185,000 $597,857 $0 0.00%
    $50k or less 4 $1,680,000 $420,000 $0 0.00%
    $100k-150k 3 $2,165,000 $721,667 $0 0.00%
    $50k-75k 2 $1,180,000 $590,000 $0 0.00%
    $75k-100k 1 $545,000 $545,000 $0 0.00%

    Flatirons Bank lent most frequently to those with incomes in the $250k+ range, with 8 originations. The second most popular income band? $150k-250k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 31 $17,545,000 $565,968 $0 0.00%

    Flatirons Bank lent most frequently to those with DTI ratios of Exempt%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 23 $11,555,000 $502,391 $0 0.00%
    Not provided 4 $4,560,000 $1,140,000 $0 0.00%
    Not applicable 4 $1,430,000 $357,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Flatirons 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
    87.10%

    Flatirons Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 31 $17,545,000 $565,968

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 31 $17,545,000 $565,968