Charter West Bank Mortgage Rates, Fees & Info

West Point, NE

LEI: 549300GG5XNEIGHQTG04

Tax ID: 47-0679592

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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. Their top (well, only) market is Omaha.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.49% 11/22/24
    30 Year Conventional Refi 6.40% 11/22/24
    30 Year Cash-out Refi 6.65% 11/22/24
    30 Year FHA Purchase 7.13% 11/22/24
    30 Year FHA Refi 7.27% 11/22/24
    30 Year VA Purchase 5.99% 11/22/24
    30 Year VA Refi 5.98% 11/22/24
    30 Year USDA Purchase 6.70% 11/22/24
    15 Year Conventional Purchase 5.87% 11/22/24
    15 Year Conventional Refi 6.12% 11/22/24
    15 Year Cash-out Refi 6.12% 11/22/24
    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

    1,086

    Origination Dollar Volume (All Markets)

    $168,910,000

    Employee count

    95 Show all (8) 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 613 $86,575,000 $141,232 $2,952 4.71%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 473 $82,335,000 $174,070 $3,251 4.70%
    Charter West Bank's top markets include and Omaha among others.

    Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • California (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.

    Home Federal Savings & Loan Association of Grand Island
    Similarity Rank: 50
    U.S. HOME MORTGAGE, INC.
    Similarity Rank: 162
    CHARTER WEST BANK
    Similarity Rank: 246
    Washington County Bank
    Similarity Rank: 255
    Central National Bank
    Similarity Rank: 290
    MUTUAL FIRST
    Similarity Rank: 297
    First State Bank
    Similarity Rank: 312
    LIBERTY FIRST
    Similarity Rank: 450
    Cobalt Credit Union
    Similarity Rank: 465
    CORNHUSKER BANK
    Similarity Rank: 616

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 627 $104,165,000 $166,132 $2,149 4.81%
    FHA 284 $40,020,000 $140,915 $4,614 4.64%
    USDA 111 $12,355,000 $111,306 $3,323 4.49%
    VA 64 $12,370,000 $193,281 $4,811 4.37%

    For 2018, Charter West Bank's most frequently originated type of loan was Conventional, with 627 originations. Their 2nd most popular type was FHA, with 284 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 957 $148,905,000 $155,596 $3,175 4.68%
    Cash Out Refi 61 $9,735,000 $159,590 $2,659 5.00%
    Refi 57 $9,655,000 $169,386 $2,319 4.71%
    Other 9 $455,000 $50,556 $788 5.89%
    Home Improvement 2 $160,000 $80,000 $2,689 5.06%

    For 2018, Charter West Bank's most frequently cited loan purpose was Home Purchase, with 957 originations. The 2nd most popular reason was Cash Out Refi, with 61 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 988 $154,880,000 $156,761 $3,179 4.69%
    15 Year 55 $8,335,000 $151,545 $2,023 4.56%
    20 Year 27 $3,255,000 $120,556 $1,882 5.14%
    Other 9 $2,145,000 $238,333 $2,098 5.13%
    10 Year 6 $250,000 $41,667 $923 5.71%
    1 Year 1 $45,000 $45,000 $0 5.50%

    For 2018, Charter West Bank's most frequently cited loan duration was 30 Year, with 988 originations. The 2nd most popular length was 15 Year, with 55 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 900 $140,500,000 $156,111
    $1k-2k 159 $24,785,000 $155,881
    $2k-3k 11 $1,805,000 $164,091
    $3k-4k 2 $340,000 $170,000
    $5k+ 1 $295,000 $295,000

    Charter West Bank's average total fees were $3,179, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 900 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 807 $129,655,000 $160,663
    5-6% 184 $23,450,000 $127,446
    3-4% 84 $14,680,000 $174,762
    6-7% 11 $1,125,000 $102,273

    During 2018, Charter West Bank's average interest rate for loans was 4.69%, while their most frequently originated rate bucket for loans was 4-5%, with 807 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 626 $89,570,000 $143,083 $3,153 4.69%
    $100,000 or less 232 $16,970,000 $73,147 $2,592 4.83%
    $200k-400k 207 $53,295,000 $257,464 $3,445 4.64%
    $400k-600k 21 $9,075,000 $432,143 $2,523 4.47%

    2018 saw Charter West Bank place emphasis on $100k-200k loans with 626 originations, totaling $89,570,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 417 $46,565,000 $111,667 $3,043 4.65%
    $50k-75k 314 $48,120,000 $153,248 $3,275 4.69%
    $75k-100k 157 $29,095,000 $185,318 $3,142 4.78%
    $100k-150k 113 $24,815,000 $219,602 $2,970 4.75%
    $150k-250k 50 $12,550,000 $251,000 $2,466 4.77%
    $250k+ 23 $6,645,000 $288,913 $2,530 4.80%

    Charter West Bank lent most frequently to those with incomes in the $50k or less range, with 417 originations. The second most popular income band? $50k-75k, with 314 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 216 $33,270,000 $154,028 $2,908 4.72%
    20-30% 187 $28,015,000 $149,813 $2,694 4.67%
    39% 68 $9,590,000 $141,029 $3,124 4.69%
    50-60% 54 $8,900,000 $164,815 $4,647 4.61%
    43% 53 $7,915,000 $149,340 $3,478 4.69%
    44% 53 $9,395,000 $177,264 $2,976 4.74%
    38% 50 $8,120,000 $162,400 $2,941 4.69%
    40% 44 $6,850,000 $155,682 $2,842 4.73%
    42% 44 $7,020,000 $159,545 $2,806 4.81%
    49% 41 $6,505,000 $158,659 $2,817 4.76%
    36% 40 $6,040,000 $151,000 $2,901 4.65%
    41% 37 $5,995,000 $162,027 $3,211 4.63%
    <20% 36 $5,810,000 $161,389 $2,506 4.80%
    37% 36 $5,710,000 $158,611 $2,948 4.74%
    45% 30 $4,960,000 $165,333 $3,821 4.62%
    47% 28 $4,380,000 $156,429 $4,023 4.67%
    48% 27 $4,235,000 $156,852 $3,317 4.65%
    46% 27 $4,715,000 $174,630 $3,964 4.72%
    >60% 2 $300,000 $150,000 $1,727 5.06%

    Charter West Bank lent most frequently to those with DTI ratios of 30-36%, with 216 originations. The next most common DTI ratio? 20-30%, with 187 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 989 $153,645,000 $155,354 $3,043 4.70%
    Not provided 38 $6,330,000 $166,579 $3,578 4.69%
    Black 21 $3,765,000 $179,286 $3,934 4.63%
    Asian 20 $3,290,000 $164,500 $3,347 4.68%
    Not applicable 11 $995,000 $90,455 $0 5.31%
    American Indian 7 $885,000 $126,429 $2,334 4.80%

    Approval Rates

    Total approvals of all applications
    91.49%

    Charter West Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.43%

    Charter West Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,086 $168,910,000 $155,534

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $350,000 $175,000
    Single Family (1-4 Units):Manufactured 1 $65,000 $65,000
    Single Family (1-4 Units):Site-Built 1,083 $168,495,000 $155,582

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $2,020,000 $91,818 $1,773 4.94%
    40-60% 41 $4,805,000 $117,195 $2,136 4.87%
    60-80% 198 $36,110,000 $182,374 $2,273 4.79%
    80-100% 807 $122,565,000 $151,877 $3,263 4.67%
    Over 100% 14 $3,150,000 $225,000 $8,438 4.47%
    Under 20% 3 $115,000 $38,333 $675 5.96%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    CHARTER WEST BANK 141 East Grove West Point, NE 68788 Limited, Drive-thru $0
    CHARTER WEST BANK 20041 Manderson St Elkhorn, NE 68022 Full Service B&M $19,581
    CHARTER WEST BANK 201 South Main Street West Point, NE 68788 Full Service B&M $99,945
    CHARTER WEST BANK 308 Main Street Walthill, NE 68067 Full Service B&M $65,773
    CHARTER WEST BANK 610 4th Street Pender, NE 68047 Full Service B&M $19,654
    CHARTER WEST BANK 7404 Olson Dr Papillion, NE 68046 Full Service B&M $4,730

    For 2018, Charter West Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,092
    Net interest income $9,015
    Total noninterest income $6,584
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $460
    Trading account gains and fees $0
    Additional Noninterest Income $6,124
    Pre-tax net operating income $3,251
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,166
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,166
    Minority interest net income $0
    Net income $3,166
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,166

    Charter West Bank's gross interest income from loans was $11,092,000.
    Charter West Bank's net interest income from loans was $9,015,000.
    Charter West Bank's fee based income from loans was $460,000.
    Charter West Bank's net income from loans was $3,166,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,077
    Provision for credit losses $184
    Total noninterest expense $12,164
    Salaries and employee benefits $8,042
    Premises and equipment expense $1,492
    Additional noninterest expense $2,630
    Applicable income taxes $85
    Net charge-offs $87
    Cash dividends $2,310

    Charter West Bank's interest expense for loans was $2,077,000.
    Charter West Bank's payroll and benefits expense were $8,042,000.
    Charter West Bank's property, plant and equipment expenses $1,492,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $215,150
    Deposits held in domestic offices $215,150
    Deposits by Individuals, partnerships, and corporations $153,423
    Deposits by U.S. Government $5
    Deposits by States and political subdivisions in the U.S. $45,166
    Deposits by Commercial banks and other depository institutions in U.S. $16,556
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $84,881
    Demand deposits $43,457
    Nontransaction accounts $130,269
    Money market deposit accounts (MMDAs) $13,976
    Other savings deposits (excluding MMDAs) $20,458
    Total time deposits $95,836
    Total time and savings deposits $171,693
    Noninterest-bearing deposits $43,947
    Interest-bearing deposits $171,203
    Retail deposits $182,384
    IRAs and Keogh plan accounts $7,797
    Brokered deposits $16,313
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $259,917
    Cash & Balances due from depository institutions $18,402
    Interest-bearing balances $10,506
    Total securities $24,534
    Federal funds sold & reverse repurchase $0
    Net loans and leases $199,555
    Loan and leases loss allowance $2,390
    Trading account assets $0
    Bank premises and fixed assets $6,665
    Other real estate owned $0
    Goodwill and other intangibles $616
    All other assets $10,145

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $259,917
    Total Liabilities $236,512
    Total deposits $215,150
    Interest-bearing deposits $171,203
    Deposits held in domestic offices $215,150
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $1,324
    Trading liabilities $0
    Other borrowed funds $17,000
    Subordinated debt $0
    All other liabilities $3,038

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $199,555
    Loan and leases loss allowance $2,390
    Total loans and leases (domestic) $201,945
    All real estate loans $95,813
    Real estate loans in domestic offices $95,813
    Construction and development loans $4,956
    Residential 1-4 family construction $779
    Other construction, all land development and other land $4,177
    Loans secured by nonfarm nonresidential properties $26,533
    Nonfarm nonresidential secured by owner-occupied properties $14,329
    Commercial real estate & other non-farm, non-residential $12,204
    Multifamily residential real estate $2,538
    1-4 family residential loans $29,915
    Farmland loans $31,871
    Loans held in foreign offices $0
    Farm loans $64,741
    Commercial and industrial loans $33,387
    To non-U.S. addressees $0
    Loans to individuals $7,002
    Credit card loans $0
    Related Plans $41
    Consumer Auto Loans $5,138
    Other loans to individuals $1,823
    All other loans & leases $1,002
    Loans to foreign governments and official institutions $0
    Other loans $398
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $12
    Non 1-4 family restructured loans & leases $12
    Total loans and leases (foreign) $0

    CHARTER WEST BANK had $199,555,000 of loans outstanding in 2018. $95,813,000 of loans were in real estate loans. $4,956,000 of loans were in development loans. $2,538,000 of loans were in multifamily mortgage loans. $29,915,000 of loans were in 1-4 family mortgage loans. $64,741,000 of loans were in farm loans. $0 of loans were in credit card loans. $5,138,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 89 $16,042 $180,247
    Nonfarm, nonresidential loans - <$100k 29 $1,240 $42,759
    Nonfarm, nonresidential loans - $100-250k 33 $4,481 $135,788
    Nonfarm, nonresidential loans - $250k-1MM 27 $10,321 $382,259
    Commercial & Industrial, US addressed loans - <$1MM 424 $26,787 $63,177
    Commercial & Industrial, US addressed loans - <$100k 334 $7,822 $23,419
    Commercial & Industrial, US addressed loans - $100-250k 45 $4,465 $99,222
    Commercial & Industrial, US addressed loans - $250k-1MM 45 $14,500 $322,222
    Farmland loans - <$1MM 90 $14,762 $164,022
    Farmland loans - <$100k 29 $1,134 $39,103
    Farmland loans - $100-250k 31 $4,585 $147,903
    Farmland loans - $250k-1MM 30 $9,043 $301,433
    Agriculture operations loans - <$1MM 515 $32,129 $62,386
    Agriculture operations loans - <$100k 367 $9,644 $26,278
    Agriculture operations loans - $100-250k 102 $12,178 $119,392
    Agriculture operations loans - $250k-1MM 46 $10,307 $224,065