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

Jump to:

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 41 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.

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% 12/5/24
30 Year Conventional Refi 6.40% 12/5/24
30 Year Cash-out Refi 6.65% 12/5/24
30 Year FHA Purchase 7.13% 12/5/24
30 Year FHA Refi 7.27% 12/5/24
30 Year VA Purchase 5.99% 12/5/24
30 Year VA Refi 5.98% 12/5/24
30 Year USDA Purchase 6.70% 12/5/24
15 Year Conventional Purchase 5.87% 12/5/24
15 Year Conventional Refi 6.12% 12/5/24
15 Year Cash-out Refi 6.12% 12/5/24
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

1,779

Origination Dollar Volume (All Markets)

$407,685,000
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
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 920 $232,230,000 $252,424 $4,700 5.10%
LINCOLN, NE (FHA|USDA|VA) 213 $51,925,000 $243,779 $3,931 5.04%
Outside of Metro Areas 240 $37,030,000 $154,292 $3,949 5.01%
GRAND ISLAND, NE (FHA|USDA|VA) 107 $21,145,000 $197,617 $4,660 5.06%
Columbus, NE (FHA|USDA|VA) 83 $17,715,000 $213,434 $4,697 5.11%
Hastings, NE (FHA|USDA|VA) 66 $11,980,000 $181,515 $4,214 5.13%
Fremont, NE (FHA|USDA|VA) 22 $3,870,000 $175,909 $3,982 4.92%
Lexington, NE (FHA|USDA|VA) 21 $3,665,000 $174,524 $4,159 4.96%
Norfolk, NE (FHA|USDA|VA) 19 $3,315,000 $174,474 $5,186 5.43%
Kearney, NE (FHA|USDA|VA) 11 $2,875,000 $261,364 $3,927 5.43%
Beatrice, NE (FHA|USDA|VA) 15 $2,825,000 $188,333 $3,741 4.60%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 8 $2,720,000 $340,000 $4,346 4.75%
North Platte, NE (FHA|USDA|VA) 10 $1,980,000 $198,000 $3,205 4.80%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 4 $1,580,000 $395,000 $6,968 4.72%
KANSAS CITY, MO-KS (FHA|USDA|VA) 3 $1,165,000 $388,333 $2,261 5.29%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $920,000 $460,000 $3,450 5.44%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 8 $820,000 $102,500 $3,336 5.72%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $820,000 $410,000 $7,043 4.19%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $770,000 $385,000 $6,074 4.50%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $690,000 $345,000 $3,201 4.25%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $645,000 $645,000 $3,672 5.50%
Great Bend, KS (FHA|USDA|VA) 1 $645,000 $645,000 $7,710 4.63%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $645,000 $645,000 $3,957 2.50%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $645,000 $645,000 $5,335 4.88%
JACKSON, MS (FHA|USDA|VA) 1 $535,000 $535,000 $12,614 5.13%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $525,000 $525,000 $5,508 5.63%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $465,000 $465,000 $5,151 5.75%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $445,000 $445,000 $17,641 5.25%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $425,000 $425,000 $11,569 2.63%
JEFFERSON CITY, MO (FHA|USDA|VA) 1 $385,000 $385,000 $2,460 5.63%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $375,000 $375,000 $11,162 5.75%
CHEYENNE, WY (FHA|USDA|VA) 1 $315,000 $315,000 $2,804 6.13%
FORT WAYNE, IN (FHA|USDA|VA) 1 $275,000 $275,000 $1,937 5.99%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $235,000 $235,000 $9,155 5.75%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $215,000 $215,000 $3,571 3.50%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $205,000 $205,000 $3,279 5.25%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $195,000 $195,000 $3,715 5.13%
DuBois, PA (FHA|USDA|VA) 1 $145,000 $145,000 $3,527 6.25%
Yankton, SD (FHA|USDA|VA) 1 $135,000 $135,000 $1,789 5.63%
Ottumwa, IA (FHA|USDA|VA) 1 $115,000 $115,000 $3,059 4.25%
Harrison, AR (FHA|USDA|VA) 1 $75,000 $75,000 $2,552 8.13%
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)
  • Arizona (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Florida (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.

    U.S. HOME MORTGAGE, INC.
    Similarity Rank: 91
    METRO CU
    Similarity Rank: 176
    CENTRIS FEDERAL CREDIT UNION
    Similarity Rank: 279
    Cobalt Credit Union
    Similarity Rank: 330
    First State Bank
    Similarity Rank: 792
    First Nebraska Bank
    Similarity Rank: 836
    Equitable Bank
    Similarity Rank: 867
    Five Points Bank
    Similarity Rank: 912
    LIBERTY FIRST
    Similarity Rank: 1260

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,201 $281,375,000 $234,284 $3,213 5.11%
    FHA 384 $79,320,000 $206,563 $6,874 5.17%
    VA 115 $35,065,000 $304,913 $7,988 4.77%
    USDA 79 $11,925,000 $150,949 $4,691 4.54%

    For 2022, Charter West Bank's most frequently originated type of loan was Conventional, with 1,201 originations. Their 2nd most popular type was FHA, with 384 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,529 $350,415,000 $229,179 $4,607 5.17%
    Cash Out Refi 123 $23,725,000 $192,886 $3,773 4.51%
    Refi 110 $31,490,000 $286,273 $3,292 4.39%
    Other 10 $930,000 $93,000 $892 4.92%
    Home Improvement 7 $1,125,000 $160,714 $1,030 5.29%

    For 2022, Charter West Bank's most frequently cited loan purpose was Home Purchase, with 1,529 originations. The 2nd most popular reason was Cash Out Refi, with 123 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,580 $363,340,000 $229,962 $4,597 5.10%
    20 Year 73 $15,005,000 $205,548 $2,720 5.14%
    15 Year 48 $8,070,000 $168,125 $2,516 3.83%
    Other 41 $15,185,000 $370,366 $3,064 5.20%
    1 Year 26 $4,830,000 $185,769 $819 5.72%
    10 Year 7 $795,000 $113,571 $1,692 3.75%
    5 Year 3 $165,000 $55,000 $1,650 5.83%
    3 Year 1 $295,000 $295,000 $104 4.75%

    For 2022, Charter West Bank's most frequently cited loan duration was 30 Year, with 1,580 originations. The 2nd most popular length was 20 Year, with 73 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 688 $162,110,000 $235,625
    $1k-2k 661 $125,415,000 $189,735
    $2k-3k 162 $39,280,000 $242,469
    $3k-4k 67 $16,465,000 $245,746
    $5k+ 60 $24,550,000 $409,167
    $4k-5k 32 $10,500,000 $328,125

    Charter West Bank's average total fees were $4,597, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 688 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 644 $148,220,000 $230,155
    4-5% 392 $95,030,000 $242,423
    3-4% 340 $76,540,000 $225,118
    6-7% 238 $53,930,000 $226,597
    7-8% 93 $19,525,000 $209,946
    2.5-3% 57 $11,235,000 $197,105
    <2.5% 10 $2,600,000 $260,000
    Over 8% 5 $605,000 $121,000

    During 2022, Charter West Bank's average interest rate for loans was 5.10%, while their most frequently originated rate bucket for loans was 5-6%, with 644 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 746 $200,670,000 $268,995 $4,959 5.12%
    $100k-200k 740 $114,270,000 $154,419 $3,791 5.07%
    $100,000 or less 146 $10,580,000 $72,466 $2,803 5.12%
    $400k-600k 119 $56,475,000 $474,580 $6,357 4.88%
    $600k-1MM 23 $15,215,000 $661,522 $8,424 4.71%
    $1MM+ 5 $10,475,000 $2,095,000 $6,899 4.77%

    2022 saw Charter West Bank place emphasis on $200k-400k loans with 746 originations, totaling $200,670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 496 $93,730,000 $188,972 $4,388 5.08%
    $50k or less 354 $49,850,000 $140,819 $3,923 4.86%
    $100k-150k 332 $93,420,000 $281,386 $4,908 5.20%
    $75k-100k 308 $71,840,000 $233,247 $4,676 5.28%
    $150k-250k 165 $55,285,000 $335,061 $4,469 4.89%
    $250k+ 48 $19,180,000 $399,583 $4,521 4.91%

    Charter West Bank lent most frequently to those with incomes in the $50k-75k range, with 496 originations. The second most popular income band? $50k or less, with 354 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 299 $67,435,000 $225,535 $3,872 4.99%
    20-30% 237 $51,695,000 $218,122 $3,850 4.80%
    44% 88 $18,730,000 $212,841 $4,914 5.15%
    41% 88 $19,140,000 $217,500 $4,295 5.19%
    42% 86 $19,100,000 $222,093 $4,482 5.30%
    37% 80 $17,950,000 $224,375 $3,464 4.91%
    40% 79 $18,645,000 $236,013 $4,804 5.06%
    50-60% 79 $18,955,000 $239,937 $7,436 5.07%
    43% 78 $18,340,000 $235,128 $4,129 5.23%
    <20% 70 $15,230,000 $217,571 $4,002 4.90%
    47% 65 $15,775,000 $242,692 $4,897 5.40%
    49% 63 $16,055,000 $254,841 $4,545 5.09%
    45% 63 $13,925,000 $221,032 $4,893 5.14%
    39% 62 $13,430,000 $216,613 $4,395 5.23%
    46% 61 $14,965,000 $245,328 $5,046 5.45%
    48% 60 $13,510,000 $225,167 $4,700 4.96%
    38% 59 $12,445,000 $210,932 $4,831 5.08%
    36% 59 $13,495,000 $228,729 $4,924 4.95%
    >60% 1 $455,000 $455,000 $4,375 3.75%

    Charter West Bank lent most frequently to those with DTI ratios of 30-36%, with 299 originations. The next most common DTI ratio? 20-30%, with 237 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,399 $313,225,000 $223,892 $4,427 5.05%
    Not provided 220 $49,890,000 $226,773 $4,462 5.14%
    Not applicable 72 $23,360,000 $324,444 $0 5.26%
    Black 51 $12,865,000 $252,255 $5,362 5.44%
    Asian 23 $5,165,000 $224,565 $3,538 4.51%
    American Indian 8 $1,680,000 $210,000 $5,381 5.81%
    Other Asian 4 $1,180,000 $295,000 $4,833 5.06%
    Native Hawaiian or Islander 1 $235,000 $235,000 $6,710 4.38%
    1 $85,000 $85,000 $4,592 6.13%

    Approval Rates

    Total approvals of all applications
    95.50%

    Charter West 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
    79.26%

    Charter West Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,779 $407,685,000 $229,165

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,779 $407,685,000 $229,165

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 45 $6,585,000 $146,333 $1,979 4.95%
    40-60% 97 $23,125,000 $238,402 $3,260 4.93%
    60-80% 441 $106,035,000 $240,442 $3,532 4.93%
    80-100% 1,157 $261,995,000 $226,443 $4,742 5.14%
    Over 100% 29 $9,345,000 $322,241 $12,398 5.17%
    Under 20% 10 $600,000 $60,000 $1,607 5.76%