Sidney State Bank Mortgage Rates, Fees & Info
Sidney Township, MILEI: 549300JH6IWUYV8WYT95
Tax ID: 38-1428856
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Mortgage Data
Review & Overview
Sidney State Bank is a smaller bank specializing in Refi and Home Purchase loans. Sidney State Bank has a high proportion of conventional loans. Their top two markets are Grand Rapids and Alma .Sidney 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.
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Originations
60Origination Dollar Volume (All Markets)
$9,210,000Top 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 |
|---|---|---|---|---|---|
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 58 | $9,060,000 | $156,207 | $0 | 0.00% |
| Alma, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 60 | $9,210,000 | $153,500 | $0 | 0.00% |
For 2024, Sidney State Bank's most frequently originated type of loan was Conventional, with 60 originations.
Loan Reason
For 2024, Sidney State Bank's most frequently cited loan purpose was Refi, with 26 originations. The 2nd most popular reason was Home Purchase, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 60 | $9,210,000 | $153,500 | $0 | 0.00% |
For 2024, Sidney State Bank's most frequently cited loan duration was Other, with 60 originations.
Loan Sizing
2024 saw Sidney State Bank place emphasis on $100,000 or less loans with 27 originations, totaling $1,405,000 in origination value.
Applicant Income
Sidney State Bank lent most frequently to those with incomes in the $75k-100k range, with 16 originations. The second most popular income band? $100k-150k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 60 | $9,210,000 | $153,500 | $0 | 0.00% |
Sidney State Bank lent most frequently to those with DTI ratios of Exempt%, with 60 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 58 | $9,030,000 | $155,690 | $0 | 0.00% |
| Not applicable | 2 | $180,000 | $90,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.18%
Sidney State 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 origination85.00%
Sidney State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 60 | $9,210,000 | $153,500 |