The Peoples State Bank Mortgage Rates, Fees & InfoEllettsville, IN
Tax ID: 35-0576690
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewThe Peoples State Bank is a smaller bank specializing in loans. The Peoples State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Bloomington, Indianapolis, Bedford, Muncie, and Terre Haute among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)
The Peoples State 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. The Peoples State 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.70%||3/28/23|
|30 Year Conventional Refi||6.72%||3/28/23|
|30 Year Cash-out Refi||6.79%||3/28/23|
|15 Year Conventional Purchase||6.12%||3/28/23|
|15 Year Conventional Refi||6.29%||3/28/23|
|15 Year Cash-out Refi||6.29%||3/28/23|
|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.|
Origination Dollar Volume (All Markets)$56,355,000
The Peoples State Bank's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.31%.
Relative Fees (Closing Costs)
The Peoples State Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,411.
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 $4,750.
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|
|BLOOMINGTON, IN (FHA|USDA|VA)||141||$32,245,000||$228,688||$2,192||4.85%|
|INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA)||82||$18,580,000||$226,585||$2,759||5.05%|
|Outside of Metro Areas||17||$3,215,000||$189,118||$2,151||5.01%|
|Bedford, IN (FHA|USDA|VA)||11||$1,715,000||$155,909||$2,211||5.58%|
|MUNCIE, IN (FHA|USDA|VA)||1||$195,000||$195,000||$1,646||5.38%|
|TERRE HAUTE, IN (FHA|USDA|VA)||1||$155,000||$155,000||$0||5.38%|
|Seymour, IN (FHA|USDA|VA)||1||$125,000||$125,000||$1,443||5.00%|
|Marion, IN (FHA|USDA|VA)||1||$125,000||$125,000||$0||7.63%|
We use machine learning to identify the top lenders compared against The Peoples State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, The Peoples State Bank's most frequently originated type of loan was Conventional, with 255 originations.
For 2022, The Peoples State Bank's most frequently cited loan purpose was Home Purchase, with 152 originations. The 2nd most popular reason was Cash Out Refi, with 56 originations.
For 2022, The Peoples State Bank's most frequently cited loan duration was 30 Year, with 167 originations. The 2nd most popular length was 15 Year, with 34 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
The Peoples State Bank's average total fees were $2,411, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 186 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, The Peoples State Bank's average interest rate for loans was 5.07%, while their most frequently originated rate bucket for loans was 5-6%, with 81 originations.
2022 saw The Peoples State Bank place emphasis on $100k-200k loans with 108 originations, totaling $16,010,000 in origination value.
The Peoples State Bank lent most frequently to those with incomes in the $50k or less range, with 52 originations. The second most popular income band? $50k-75k, with 51 originations.
Applicant Debt to Income Ratio
The Peoples State Bank lent most frequently to those with DTI ratios of 20-30%, with 42 originations. The next most common DTI ratio? 30-36%, with 41 originations.
Approval RatesTotal approvals of all applications
The Peoples State Bank has an average approval rate.
Pick RateApprovals leading to origination
The Peoples State Bank has an average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|