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. They have a low ratio of USDA loans. Their top markets by origination volume include: Omaha, Fremont, and Beatrice among others. We have data for 4 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.

    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% 4/21/24
    30 Year Conventional Refi 6.40% 4/21/24
    30 Year Cash-out Refi 6.65% 4/21/24
    30 Year FHA Purchase 7.13% 4/21/24
    30 Year FHA Refi 7.27% 4/21/24
    30 Year VA Purchase 5.99% 4/21/24
    30 Year VA Refi 5.98% 4/21/24
    30 Year USDA Purchase 6.70% 4/21/24
    15 Year Conventional Purchase 5.87% 4/21/24
    15 Year Conventional Refi 6.12% 4/21/24
    15 Year Cash-out Refi 6.12% 4/21/24
    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

    1,756

    Origination Dollar Volume (All Markets)

    $324,290,000

    Employee count

    105 Show all (7) 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
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 859 $178,425,000 $207,712 $3,448 4.15%
    Outside of Metro Areas 895 $145,705,000 $162,799 $3,248 4.16%
    Fremont, NE (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.85%
    Beatrice, NE (FHA|USDA|VA) 1 $75,000 $75,000 $1,990 5.13%
    Charter West Bank's top markets include Omaha, Fremont, and Beatrice among others.

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

    Home Federal Savings & Loan Association of Grand Island
    Similarity Rank: 90
    U.S. HOME MORTGAGE, INC.
    Similarity Rank: 110
    MUTUAL FIRST
    Similarity Rank: 276
    LIBERTY FIRST
    Similarity Rank: 351
    Central National Bank
    Similarity Rank: 363
    Cobalt Credit Union
    Similarity Rank: 582
    CORNHUSKER BANK
    Similarity Rank: 615
    CHARTER WEST BANK
    Similarity Rank: 644
    CENTRIS FEDERAL CREDIT UNION
    Similarity Rank: 846
    FRONTIER FINANCIAL, INC.
    Similarity Rank: 1311

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,084 $209,650,000 $193,404 $2,443 4.26%
    FHA 406 $63,700,000 $156,897 $5,049 4.08%
    VA 150 $37,300,000 $248,667 $4,950 3.75%
    USDA 116 $13,640,000 $117,586 $3,606 3.98%

    For 2019, Charter West Bank's most frequently originated type of loan was Conventional, with 1,084 originations. Their 2nd most popular type was FHA, with 406 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,337 $236,915,000 $177,199 $3,551 4.18%
    Refi 255 $59,065,000 $231,627 $2,587 3.87%
    Cash Out Refi 151 $26,965,000 $178,576 $2,960 4.31%
    Other 11 $955,000 $86,818 $1,011 5.85%
    Home Improvement 2 $390,000 $195,000 $3,388 5.37%

    For 2019, Charter West Bank's most frequently cited loan purpose was Home Purchase, with 1,337 originations. The 2nd most popular reason was Refi, with 255 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,592 $295,660,000 $185,716 $3,450 4.15%
    15 Year 96 $17,570,000 $183,021 $2,348 3.77%
    20 Year 35 $5,565,000 $159,000 $1,871 4.92%
    Other 18 $3,710,000 $206,111 $2,142 4.78%
    1 Year 7 $1,235,000 $176,429 $1,739 5.14%
    10 Year 6 $450,000 $75,000 $2,666 4.96%
    3 Year 1 $15,000 $15,000 $765 5.38%
    5 Year 1 $85,000 $85,000 $0 5.85%

    For 2019, Charter West Bank's most frequently cited loan duration was 30 Year, with 1,592 originations. The 2nd most popular length was 15 Year, with 96 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,185 $233,195,000 $196,789
    $1k-2k 512 $77,860,000 $152,070
    $2k-3k 30 $6,580,000 $219,333
    $3k-4k 6 $1,740,000 $290,000
    $4k-5k 6 $2,280,000 $380,000
    $5k+ 2 $740,000 $370,000

    Charter West Bank's average total fees were $3,450, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,185 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 896 $181,280,000 $202,321
    4-5% 751 $127,445,000 $169,700
    5-6% 87 $12,785,000 $146,954
    6-7% 17 $1,625,000 $95,588
    2.5-3% 2 $630,000 $315,000
    7-8% 1 $175,000 $175,000

    During 2019, Charter West Bank's average interest rate for loans was 4.15%, while their most frequently originated rate bucket for loans was 3-4%, with 896 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 945 $142,035,000 $150,302 $3,340 4.15%
    $200k-400k 497 $132,535,000 $266,670 $3,570 4.01%
    $100,000 or less 247 $18,735,000 $75,850 $2,671 4.54%
    $400k-600k 65 $29,415,000 $452,538 $4,136 3.91%
    $600k-1MM 2 $1,570,000 $785,000 $4,822 5.00%

    2019 saw Charter West Bank place emphasis on $100k-200k loans with 945 originations, totaling $142,035,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 505 $63,775,000 $126,287 $3,322 4.16%
    $50k-75k 478 $76,890,000 $160,858 $3,367 4.14%
    $100k-150k 294 $72,010,000 $244,932 $3,473 4.07%
    $75k-100k 293 $57,235,000 $195,341 $3,356 4.24%
    $150k-250k 133 $39,145,000 $294,323 $3,127 4.13%
    $250k+ 43 $13,755,000 $319,884 $3,049 4.20%

    Charter West Bank lent most frequently to those with incomes in the $50k or less range, with 505 originations. The second most popular income band? $50k-75k, with 478 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 361 $66,115,000 $183,144 $2,883 4.07%
    30-36% 357 $64,195,000 $179,818 $3,360 4.16%
    <20% 88 $16,510,000 $187,614 $2,502 4.11%
    40% 78 $13,990,000 $179,359 $3,241 4.21%
    44% 77 $14,925,000 $193,831 $3,630 4.06%
    37% 72 $12,840,000 $178,333 $3,145 4.15%
    50-60% 71 $15,335,000 $215,986 $5,091 4.08%
    38% 70 $12,800,000 $182,857 $3,299 4.21%
    41% 69 $13,065,000 $189,348 $3,278 4.30%
    43% 69 $13,245,000 $191,957 $3,650 4.26%
    42% 61 $11,045,000 $181,066 $3,779 4.31%
    39% 60 $11,710,000 $195,167 $3,307 4.17%
    45% 57 $10,945,000 $192,018 $3,825 4.14%
    36% 53 $9,255,000 $174,623 $3,174 4.20%
    49% 52 $8,890,000 $170,962 $3,835 4.23%
    48% 44 $7,570,000 $172,045 $3,813 4.19%
    46% 41 $7,925,000 $193,293 $3,690 4.19%
    47% 33 $5,205,000 $157,727 $3,710 4.17%
    >60% 6 $1,210,000 $201,667 $2,562 4.52%

    Charter West Bank lent most frequently to those with DTI ratios of 20-30%, with 361 originations. The next most common DTI ratio? 30-36%, with 357 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,596 $294,730,000 $184,668 $3,323 4.16%
    Not provided 76 $14,080,000 $185,263 $2,890 4.11%
    Black 34 $7,180,000 $211,176 $4,738 3.96%
    Asian 26 $4,610,000 $177,308 $3,794 3.92%
    American Indian 10 $1,770,000 $177,000 $4,688 4.16%
    Not applicable 9 $975,000 $108,333 $0 5.67%
    Other Asian 2 $360,000 $180,000 $2,411 4.81%
    Asian Indian 1 $305,000 $305,000 $2,111 3.63%
    Guamanian 1 $175,000 $175,000 $1,968 3.88%
    Native Hawaiian or Islander 1 $105,000 $105,000 $4,001 3.75%

    Approval Rates

    Total approvals of all applications
    93.73%

    Charter West Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.53%

    Charter West Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,756 $324,290,000 $184,675

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $205,000 $205,000
    Single Family (1-4 Units):Site-Built 1,755 $324,085,000 $184,664

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $2,975,000 $141,667 $1,872 4.70%
    40-60% 79 $14,715,000 $186,266 $2,280 4.09%
    60-80% 402 $81,950,000 $203,856 $2,413 4.25%
    80-100% 1,223 $217,155,000 $177,559 $3,633 4.12%
    Over 100% 23 $6,535,000 $284,130 $9,738 3.83%
    Under 20% 6 $470,000 $78,333 $940 5.83%

    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 $25,388
    CHARTER WEST BANK 201 South Main Street West Point, NE 68788 Full Service B&M $122,695
    CHARTER WEST BANK 308 Main Street Walthill, NE 68067 Full Service B&M $63,500
    CHARTER WEST BANK 610 4th Street Pender, NE 68047 Full Service B&M $23,039
    CHARTER WEST BANK 7404 Olson Dr Papillion, NE 68046 Full Service B&M $7,154

    For 2019, Charter West Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,991
    Net interest income $9,298
    Total noninterest income $12,567
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $418
    Trading account gains and fees $0
    Additional Noninterest Income $12,149
    Pre-tax net operating income $5,485
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,375
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,375
    Minority interest net income $0
    Net income $5,375
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,375

    Charter West Bank's gross interest income from loans was $12,991,000.
    Charter West Bank's net interest income from loans was $9,298,000.
    Charter West Bank's fee based income from loans was $418,000.
    Charter West Bank's net income from loans was $5,375,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,693
    Provision for credit losses $153
    Total noninterest expense $16,227
    Salaries and employee benefits $11,555
    Premises and equipment expense $1,838
    Additional noninterest expense $2,834
    Applicable income taxes $110
    Net charge-offs $77
    Cash dividends $1,560

    Charter West Bank's interest expense for loans was $3,693,000.
    Charter West Bank's payroll and benefits expense were $11,555,000.
    Charter West Bank's property, plant and equipment expenses $1,838,000.

    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 $248,338
    Deposits held in domestic offices $248,338
    Deposits by Individuals, partnerships, and corporations $188,137
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $39,937
    Deposits by Commercial banks and other depository institutions in U.S. $20,264
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $91,329
    Demand deposits $43,976
    Nontransaction accounts $157,009
    Money market deposit accounts (MMDAs) $12,563
    Other savings deposits (excluding MMDAs) $25,401
    Total time deposits $119,045
    Total time and savings deposits $204,362
    Noninterest-bearing deposits $44,466
    Interest-bearing deposits $203,872
    Retail deposits $210,992
    IRAs and Keogh plan accounts $8,584
    Brokered deposits $19,532
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $288,563
    Cash & Balances due from depository institutions $34,132
    Interest-bearing balances $28,571
    Total securities $25,348
    Federal funds sold & reverse repurchase $0
    Net loans and leases $209,819
    Loan and leases loss allowance $2,467
    Trading account assets $0
    Bank premises and fixed assets $8,380
    Other real estate owned $0
    Goodwill and other intangibles $616
    All other assets $10,268

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $288,563
    Total Liabilities $260,346
    Total deposits $248,338
    Interest-bearing deposits $203,872
    Deposits held in domestic offices $248,338
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $1,339
    Trading liabilities $0
    Other borrowed funds $7,000
    Subordinated debt $0
    All other liabilities $3,669

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $209,819
    Loan and leases loss allowance $2,467
    Total loans and leases (domestic) $212,286
    All real estate loans $107,335
    Real estate loans in domestic offices $107,335
    Construction and development loans $4,389
    Residential 1-4 family construction $1,672
    Other construction, all land development and other land $2,717
    Loans secured by nonfarm nonresidential properties $29,502
    Nonfarm nonresidential secured by owner-occupied properties $17,894
    Commercial real estate & other non-farm, non-residential $11,608
    Multifamily residential real estate $2,491
    1-4 family residential loans $40,753
    Farmland loans $30,200
    Loans held in foreign offices $0
    Farm loans $60,629
    Commercial and industrial loans $32,448
    To non-U.S. addressees $0
    Loans to individuals $6,736
    Credit card loans $0
    Related Plans $39
    Consumer Auto Loans $4,887
    Other loans to individuals $1,810
    All other loans & leases $5,139
    Loans to foreign governments and official institutions $0
    Other loans $240
    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 $3
    Non 1-4 family restructured loans & leases $3
    Total loans and leases (foreign) $0

    CHARTER WEST BANK had $209,819,000 of loans outstanding in 2019. $107,335,000 of loans were in real estate loans. $4,389,000 of loans were in development loans. $2,491,000 of loans were in multifamily mortgage loans. $40,753,000 of loans were in 1-4 family mortgage loans. $60,629,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,887,000 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 104 $20,402 $196,173
    Nonfarm, nonresidential loans - <$100k 33 $1,286 $38,970
    Nonfarm, nonresidential loans - $100-250k 35 $4,631 $132,314
    Nonfarm, nonresidential loans - $250k-1MM 36 $14,485 $402,361
    Commercial & Industrial, US addressed loans - <$1MM 470 $26,289 $55,934
    Commercial & Industrial, US addressed loans - <$100k 367 $8,292 $22,594
    Commercial & Industrial, US addressed loans - $100-250k 58 $5,196 $89,586
    Commercial & Industrial, US addressed loans - $250k-1MM 45 $12,801 $284,467
    Farmland loans - <$1MM 91 $14,459 $158,890
    Farmland loans - <$100k 30 $1,046 $34,867
    Farmland loans - $100-250k 30 $4,210 $140,333
    Farmland loans - $250k-1MM 31 $9,203 $296,871
    Agriculture operations loans - <$1MM 496 $28,061 $56,575
    Agriculture operations loans - <$100k 367 $9,291 $25,316
    Agriculture operations loans - $100-250k 93 $10,223 $109,925
    Agriculture operations loans - $250k-1MM 36 $8,547 $237,417