The Peoples State Bank Mortgage Rates, Fees & Info

Ellettsville, IN

LEI: 549300GQOPGZ1DO0MZ49

Tax ID: 35-0576690

5 stars - out of 5 stars, based on 16 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • 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)

    • Review & Overview

    The 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.

    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 6.70% 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.


    Originations

    255

    Origination Dollar Volume (All Markets)

    $56,355,000

    Awards

    The Peoples State Bank 30 Year Conventional Loans silver The Peoples State Bank 30 Year Conventional Loans silver The Peoples State Bank 30 Year Conventional Loans silver
    Show all (3) awards

    Relative Rate

    The Peoples State Bank's average 30 year fixed mortgage rate was 5.07%.

    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.

    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
    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%
    The Peoples State Bank's top markets include Bloomington, Indianapolis, Bedford, Muncie, and Terre Haute among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)

    • Similar Lenders

    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.

    Mutual Savings Bank
    Similarity Rank: 176
    The Riddell National Bank
    Similarity Rank: 378
    Independent Federal Credit Union
    Similarity Rank: 420
    MORTGAGE MASTERS OF INDIANA, INC.
    Similarity Rank: 540
    Madison County Federal Credit Union
    Similarity Rank: 672
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 700
    The Peoples State Bank
    Similarity Rank: 1000
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1014
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 1786
    FORUM Credit Union
    Similarity Rank: 2220

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 255 $56,355,000 $221,000 $2,381 4.97%

    For 2022, The Peoples State Bank's most frequently originated type of loan was Conventional, with 255 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 152 $34,610,000 $227,697 $2,443 5.09%
    Cash Out Refi 56 $9,670,000 $172,679 $2,300 4.63%
    Refi 32 $9,490,000 $296,563 $2,258 4.67%
    Home Improvement 15 $2,585,000 $172,333 $2,346 5.61%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 167 $36,775,000 $220,210 $2,411 5.07%
    15 Year 34 $6,020,000 $177,059 $2,338 4.20%
    20 Year 28 $4,930,000 $176,071 $2,209 5.04%
    Other 18 $7,510,000 $417,222 $2,264 5.36%
    1 Year 5 $735,000 $147,000 $0 5.50%
    10 Year 3 $385,000 $128,333 $2,136 4.54%

    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
    $<1k 186 $37,530,000 $201,774
    $1k-2k 11 $2,385,000 $216,818
    $2k-3k 5 $1,365,000 $273,000
    $3k-4k 4 $1,590,000 $397,500
    $4k-5k 2 $620,000 $310,000
    $5k+ 1 $645,000 $645,000

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 81 $16,395,000 $202,407
    4-5% 64 $14,140,000 $220,938
    3-4% 57 $13,955,000 $244,825
    6-7% 36 $8,760,000 $243,333
    7-8% 8 $1,160,000 $145,000
    <2.5% 5 $675,000 $135,000
    2.5-3% 4 $1,270,000 $317,500

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 108 $16,010,000 $148,241 $2,186 4.94%
    $200k-400k 86 $23,650,000 $275,000 $2,439 4.95%
    $100,000 or less 39 $2,835,000 $72,692 $1,949 5.36%
    $400k-600k 15 $6,605,000 $440,333 $2,944 4.25%
    $600k-1MM 5 $3,685,000 $737,000 $8,207 4.90%
    $1MM+ 2 $3,570,000 $1,785,000 $0 5.13%

    2022 saw The Peoples State Bank place emphasis on $100k-200k loans with 108 originations, totaling $16,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 52 $6,450,000 $124,038 $2,040 5.14%
    $50k-75k 51 $9,095,000 $178,333 $2,294 4.74%
    $75k-100k 51 $11,915,000 $233,627 $2,266 4.89%
    $100k-150k 49 $11,325,000 $231,122 $2,350 5.11%
    $150k-250k 22 $6,310,000 $286,818 $3,000 4.86%
    $250k+ 11 $3,405,000 $309,545 $3,737 4.68%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 42 $8,500,000 $202,381 $2,313 4.80%
    30-36% 41 $7,845,000 $191,341 $2,077 4.91%
    <20% 26 $4,260,000 $163,846 $2,273 4.74%
    44% 18 $4,220,000 $234,444 $3,204 4.94%
    36% 12 $2,330,000 $194,167 $2,961 4.79%
    42% 10 $2,060,000 $206,000 $2,077 4.90%
    40% 10 $1,900,000 $190,000 $2,359 5.84%
    43% 10 $2,750,000 $275,000 $2,465 4.49%
    45% 10 $2,210,000 $221,000 $2,496 5.74%
    38% 7 $1,705,000 $243,571 $2,297 4.27%
    39% 7 $1,515,000 $216,429 $2,003 4.32%
    41% 6 $1,860,000 $310,000 $2,590 4.50%
    37% 6 $1,220,000 $203,333 $2,633 4.73%
    46% 4 $620,000 $155,000 $2,742 5.31%
    50-60% 4 $1,200,000 $300,000 $2,157 5.94%
    49% 4 $730,000 $182,500 $2,384 4.91%
    48% 3 $645,000 $215,000 $2,327 4.79%
    47% 1 $65,000 $65,000 $0 6.63%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 221 $44,465,000 $201,199 $2,284 4.95%
    Not applicable 17 $7,395,000 $435,000 $0 5.28%
    Asian 7 $1,765,000 $252,143 $2,085 4.80%
    Not provided 6 $1,520,000 $253,333 $3,709 4.69%
    Black 4 $1,210,000 $302,500 $6,223 5.50%

    Approval Rates

    Total approvals of all applications
    92.88%

    The Peoples State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.84%

    The Peoples State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 255 $56,355,000 $221,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    255 $56,355,000 $221,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $2,725,000 $109,000 $2,132 4.96%
    40-60% 54 $11,280,000 $208,889 $2,312 4.75%
    60-80% 102 $25,640,000 $251,373 $2,571 4.95%
    80-100% 68 $16,050,000 $236,029 $2,324 5.13%
    Under 20% 6 $660,000 $110,000 $2,043 5.46%