Charter West Bank Mortgage Rates, Fees & Info

West Point, NE

LEI: 549300GG5XNEIGHQTG04

Tax ID: 47-0679592

5 stars - Updated: 10/29/24 - out of 5 stars, based on 38 reviews

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

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Mortgage Data

Review & Overview

Charter West Bank is a smaller bank specializing in Home Purchase loans. Charter West Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Omaha, Lincoln, Grand Island, Columbus, and Hastings among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)

Charter West 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. Charter West Bank is typically an average 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 relatively high 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 6.49% 10/29/24
30 Year Conventional Refi 6.40% 10/29/24
30 Year Cash-out Refi 6.65% 10/29/24
30 Year FHA Purchase 7.13% 10/29/24
30 Year FHA Refi 7.27% 10/29/24
30 Year VA Purchase 5.99% 10/29/24
30 Year VA Refi 5.98% 10/29/24
30 Year USDA Purchase 6.70% 10/29/24
15 Year Conventional Purchase 5.87% 10/29/24
15 Year Conventional Refi 6.12% 10/29/24
15 Year Cash-out Refi 6.12% 10/29/24
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.

Charter West Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Charter West 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

1,441

Origination Dollar Volume (All Markets)

$324,995,000
Show all (9) awards

Relative Rate

Charter West Bank's average 30 year fixed mortgage rate was 6.85%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.37%.

Relative Fees (Closing Costs)

Charter West Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,920.

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 $9,089.

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
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 701 $177,905,000 $253,787 $4,956 7.00%
LINCOLN, NE (FHA|USDA|VA) 204 $47,880,000 $234,706 $4,123 6.90%
Outside of Metro Areas 212 $33,390,000 $157,500 $4,303 7.00%
GRAND ISLAND, NE (FHA|USDA|VA) 82 $17,470,000 $213,049 $6,175 6.69%
Columbus, NE (FHA|USDA|VA) 71 $16,155,000 $227,535 $5,673 6.81%
Hastings, NE (FHA|USDA|VA) 61 $10,075,000 $165,164 $3,898 6.70%
Fremont, NE (FHA|USDA|VA) 18 $3,760,000 $208,889 $5,002 7.04%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 12 $2,400,000 $200,000 $5,344 7.34%
Norfolk, NE (FHA|USDA|VA) 13 $2,375,000 $182,692 $5,302 6.91%
Beatrice, NE (FHA|USDA|VA) 12 $2,060,000 $171,667 $4,380 6.46%
KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $2,045,000 $409,000 $5,507 6.70%
Lexington, NE (FHA|USDA|VA) 12 $1,970,000 $164,167 $4,577 7.01%
Kearney, NE (FHA|USDA|VA) 9 $1,555,000 $172,778 $5,370 6.92%
North Platte, NE (FHA|USDA|VA) 10 $1,530,000 $153,000 $3,439 6.75%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $785,000 $261,667 $5,244 6.92%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $530,000 $265,000 $5,882 6.13%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 2 $480,000 $240,000 $5,190 7.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $395,000 $395,000 $2,549 7.75%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $375,000 $375,000 $12,968 7.63%
WILMINGTON, NC (FHA|USDA|VA) 1 $375,000 $375,000 $5,103 6.13%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 1 $295,000 $295,000 $8,083 7.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $275,000 $275,000 $7,539 7.25%
WICHITA, KS (FHA|USDA|VA) 1 $225,000 $225,000 $2,599 7.50%
Storm Lake, IA (FHA|USDA|VA) 1 $195,000 $195,000 $7,967 7.13%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $125,000 $125,000 $2,672 6.13%
TUCSON, AZ (FHA|USDA|VA) 1 $115,000 $115,000 $2,567 7.25%
SPRINGFIELD, IL (FHA|USDA|VA) 1 $95,000 $95,000 $5,684 6.99%
Mason City, IA (FHA|USDA|VA) 1 $95,000 $95,000 $2,714 7.50%
St. Marys, PA (FHA|USDA|VA) 1 $65,000 $65,000 $3,565 7.25%
Charter West Bank's top markets include Omaha, Lincoln, Grand Island, Columbus, and Hastings among others.

Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against CHARTER WEST BANK based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    METRO CU
    Similarity Rank: 56
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    LIBERTY FIRST
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    FOUR POINTS
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    CENTRIS FEDERAL CREDIT UNION
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    Security First Bank
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    First State Bank
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 895 $205,245,000 $229,324 $3,325 7.13%
    FHA 437 $93,675,000 $214,359 $7,328 6.69%
    VA 71 $20,585,000 $289,930 $6,798 6.46%
    USDA 38 $5,490,000 $144,474 $4,720 6.26%

    For 2023, Charter West Bank's most frequently originated type of loan was Conventional, with 895 originations. Their 2nd most popular type was FHA, with 437 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,362 $309,220,000 $227,034 $4,830 6.90%
    Refi 38 $8,660,000 $227,895 $3,974 7.84%
    Cash Out Refi 30 $4,710,000 $157,000 $4,396 7.07%
    Other 9 $2,055,000 $228,333 $2,960 9.09%
    Home Improvement 2 $350,000 $175,000 $0 8.63%

    For 2023, Charter West Bank's most frequently cited loan purpose was Home Purchase, with 1,362 originations. The 2nd most popular reason was Refi, with 38 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,336 $298,860,000 $223,698 $4,920 6.85%
    1 Year 36 $6,470,000 $179,722 $702 8.24%
    Other 25 $12,125,000 $485,000 $19,936 8.31%
    20 Year 24 $4,120,000 $171,667 $2,242 8.23%
    15 Year 14 $2,980,000 $212,857 $3,170 7.49%
    10 Year 6 $440,000 $73,333 $2,382 8.74%

    For 2023, Charter West Bank's most frequently cited loan duration was 30 Year, with 1,336 originations. The 2nd most popular length was 1 Year, with 36 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 791 $161,125,000 $203,698
    $<1k 251 $57,095,000 $227,470
    $2k-3k 220 $50,010,000 $227,318
    $3k-4k 62 $17,770,000 $286,613
    $4k-5k 35 $10,635,000 $303,857
    $5k+ 35 $14,505,000 $414,429

    Charter West Bank's average total fees were $4,920, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 791 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 764 $169,080,000 $221,309
    7-8% 450 $108,220,000 $240,489
    5-6% 122 $25,920,000 $212,459
    Over 8% 104 $21,450,000 $206,250
    4-5% 1 $325,000 $325,000

    During 2023, Charter West Bank's average interest rate for loans was 6.85%, while their most frequently originated rate bucket for loans was 6-7%, with 764 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 680 $182,180,000 $267,912 $5,461 6.96%
    $100k-200k 567 $87,715,000 $154,700 $4,141 6.82%
    $100,000 or less 113 $7,985,000 $70,664 $2,774 7.42%
    $400k-600k 62 $28,470,000 $459,194 $6,137 7.02%
    $600k-1MM 16 $10,930,000 $683,125 $6,008 6.91%
    $1MM+ 3 $7,715,000 $2,571,667 $19,936 8.00%

    2023 saw Charter West Bank place emphasis on $200k-400k loans with 680 originations, totaling $182,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 437 $80,955,000 $185,252 $4,707 6.73%
    $75k-100k 325 $71,145,000 $218,908 $4,849 6.94%
    $100k-150k 283 $75,615,000 $267,191 $5,089 7.21%
    $50k or less 203 $27,965,000 $137,759 $4,026 6.65%
    $150k-250k 118 $39,090,000 $331,271 $5,676 7.09%
    $250k+ 37 $17,205,000 $465,000 $4,550 7.23%

    Charter West Bank lent most frequently to those with incomes in the $50k-75k range, with 437 originations. The second most popular income band? $75k-100k, with 325 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 250 $55,150,000 $220,600 $4,300 6.94%
    20-30% 162 $32,310,000 $199,444 $3,867 6.91%
    49% 90 $22,040,000 $244,889 $5,753 6.83%
    44% 89 $19,685,000 $221,180 $5,072 6.79%
    46% 74 $16,250,000 $219,595 $5,083 6.86%
    48% 71 $16,525,000 $232,746 $4,899 6.84%
    47% 70 $15,590,000 $222,714 $5,178 6.90%
    43% 66 $14,480,000 $219,394 $4,940 6.83%
    42% 65 $13,405,000 $206,231 $4,822 6.84%
    50-60% 64 $16,580,000 $259,063 $7,676 6.98%
    40% 61 $13,555,000 $222,213 $4,848 6.94%
    41% 57 $13,965,000 $245,000 $5,330 6.84%
    38% 55 $12,835,000 $233,364 $3,815 6.83%
    37% 54 $12,150,000 $225,000 $4,186 6.98%
    45% 53 $13,265,000 $250,283 $5,013 6.95%
    39% 51 $10,955,000 $214,804 $4,597 6.99%
    36% 42 $9,020,000 $214,762 $5,010 6.96%
    <20% 21 $3,135,000 $149,286 $2,822 6.96%

    Charter West Bank lent most frequently to those with DTI ratios of 30-36%, with 250 originations. The next most common DTI ratio? 20-30%, with 162 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,139 $246,885,000 $216,756 $4,704 6.91%
    Not provided 167 $37,195,000 $222,725 $4,906 6.85%
    Black 52 $15,820,000 $304,231 $6,490 6.96%
    Not applicable 36 $12,410,000 $344,722 $0 8.29%
    Asian 25 $7,385,000 $295,400 $4,920 7.08%
    American Indian 15 $3,395,000 $226,333 $4,068 6.98%
    Asian Indian 3 $1,055,000 $351,667 $5,187 7.13%
    Filipino 3 $515,000 $171,667 $6,104 7.17%
    Native Hawaiian or Islander 1 $335,000 $335,000 $4,848 6.88%

    Approval Rates

    Total approvals of all applications
    94.54%

    Charter West Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.03%

    Charter West Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,441 $324,995,000 $225,534

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,441 $324,995,000 $225,534

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $4,370,000 $121,389 $2,229 7.31%
    40-60% 79 $16,865,000 $213,481 $2,991 7.07%
    60-80% 247 $61,885,000 $250,547 $3,551 7.20%
    80-100% 1,048 $235,860,000 $225,057 $5,190 6.84%
    Over 100% 15 $4,955,000 $330,333 $12,945 6.62%
    Under 20% 16 $1,060,000 $66,250 $1,127 8.68%