Charter West Bank Mortgage Rates, Fees & Info
West Point, NELEI: 549300GG5XNEIGHQTG04
Tax ID: 47-0679592
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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 a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Omaha, Lincoln, Columbus, Grand Island, and Norfolk among others. We have data for 35 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 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.09% | 4/5/25 |
| 30 Year Conventional Refi | 7.15% | 4/5/25 |
| 30 Year Cash-out Refi | 7.42% | 4/5/25 |
| 30 Year FHA Purchase | 7.14% | 4/5/25 |
| 30 Year FHA Refi | 7.13% | 4/5/25 |
| 30 Year VA Purchase | 6.30% | 4/5/25 |
| 30 Year VA Refi | 6.10% | 4/5/25 |
| 30 Year USDA Purchase | 6.59% | 4/5/25 |
| 15 Year Conventional Purchase | 6.60% | 4/5/25 |
| 15 Year Conventional Refi | 6.00% | 4/5/25 |
| 15 Year Cash-out Refi | 6.00% | 4/5/25 |
| 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
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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
1,580Origination Dollar Volume (All Markets)
$385,230,000Awards
CHARTER WEST BANK - 2024
CHARTER WEST BANK is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Charter West Bank's average 30 year fixed mortgage rate was
6.6%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.05%.
Relative Fees (Closing Costs)
Charter West Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,214.
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 $8,356.
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) | 807 | $214,775,000 | $266,140 | $5,262 | 6.76% |
| LINCOLN, NE (FHA|USDA|VA) | 194 | $47,110,000 | $242,835 | $4,382 | 6.71% |
| Outside of Metro Areas | 225 | $42,805,000 | $190,244 | $4,618 | 6.75% |
| Columbus, NE (FHA|USDA|VA) | 66 | $16,790,000 | $254,394 | $6,628 | 6.59% |
| GRAND ISLAND, NE (FHA|USDA|VA) | 69 | $15,405,000 | $223,261 | $5,789 | 6.46% |
| Norfolk, NE (FHA|USDA|VA) | 39 | $8,775,000 | $225,000 | $5,830 | 6.41% |
| Hastings, NE (FHA|USDA|VA) | 50 | $8,620,000 | $172,400 | $4,361 | 6.41% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 28 | $5,600,000 | $200,000 | $5,180 | 6.87% |
| Fremont, NE (FHA|USDA|VA) | 22 | $4,910,000 | $223,182 | $5,121 | 6.83% |
| Kearney, NE (FHA|USDA|VA) | 18 | $3,790,000 | $210,556 | $3,987 | 6.67% |
| North Platte, NE (FHA|USDA|VA) | 12 | $2,350,000 | $195,833 | $4,851 | 6.41% |
| Beatrice, NE (FHA|USDA|VA) | 11 | $2,155,000 | $195,909 | $4,161 | 6.48% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 4 | $1,940,000 | $485,000 | $3,916 | 7.72% |
| Lexington, NE (FHA|USDA|VA) | 10 | $1,440,000 | $144,000 | $5,188 | 6.54% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $8,500 | 6.88% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $4,231 | 7.50% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $8,417 | 5.63% |
| AMARILLO, TX (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $7,219 | 6.44% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $4,022 | 7.38% |
| Branson, MO (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $10,803 | 7.13% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $6,095 | 6.50% |
| Vermillion, SD (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $2,977 | 7.38% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $9,491 | 6.25% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $6,587 | 7.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,560 | 7.50% |
| Storm Lake, IA (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $6,874 | 6.94% |
| Yankton, SD (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,367 | 7.13% |
| Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,833 | 7.25% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $8,321 | 6.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,737 | 7.13% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,177 | 7.00% |
| Hays, KS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,655 | 6.63% |
| Stevens Point, WI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,611 | 6.88% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,960 | 7.88% |
| MADISON, WI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,610 | 7.13% |
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.
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Product Mix
For 2024, Charter West Bank's most frequently originated type of loan was Conventional, with 913 originations. Their 2nd most popular type was FHA, with 518 originations.
Loan Reason
For 2024, Charter West Bank's most frequently cited loan purpose was Home Purchase, with 1,453 originations. The 2nd most popular reason was Refi, with 66 originations.
Loan Duration/Length
For 2024, Charter West Bank's most frequently cited loan duration was 30 Year, with 1,471 originations. The 2nd most popular length was 20 Year, with 44 originations.
Origination Fees/Closing Costs
Charter West Bank's average total fees were $5,214, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 849 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 863 | $211,605,000 | $245,197 |
| 7-8% | 337 | $90,635,000 | $268,947 |
| 5-6% | 277 | $63,175,000 | $228,069 |
| Over 8% | 92 | $17,080,000 | $185,652 |
| 4-5% | 11 | $2,735,000 | $248,636 |
During 2024, Charter West Bank's average interest rate for loans was 6.60%, while their most frequently originated rate bucket for loans was 6-7%, with 863 originations.
Loan Sizing
2024 saw Charter West Bank place emphasis on $200k-400k loans with 818 originations, totaling $224,160,000 in origination value.
Applicant Income
Charter West Bank lent most frequently to those with incomes in the $50k-75k range, with 410 originations. The second most popular income band? $75k-100k, with 366 originations.
Applicant Debt to Income Ratio
Charter West Bank lent most frequently to those with DTI ratios of 30-36%, with 246 originations. The next most common DTI ratio? 20-30%, with 164 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.67%
Charter West Bank has an average approval rate.
Pick Rate
Approvals leading to origination69.05%
Charter West Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,580 | $385,230,000 | $243,816 |