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 Home Purchase and Refi 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
51Origination Dollar Volume (All Markets)
$7,395,000Top 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) | 48 | $7,050,000 | $146,875 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Alma, MI (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 51 | $7,395,000 | $145,000 | $0 | 0.00% |
For 2023, Sidney State Bank's most frequently originated type of loan was Conventional, with 51 originations.
Loan Reason
For 2023, Sidney State Bank's most frequently cited loan purpose was Home Purchase, with 26 originations. The 2nd most popular reason was Refi, with 21 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 51 | $7,395,000 | $145,000 | $0 | 0.00% |
For 2023, Sidney State Bank's most frequently cited loan duration was Other, with 51 originations.
Loan Sizing
2023 saw Sidney State Bank place emphasis on $100,000 or less loans with 26 originations, totaling $1,630,000 in origination value.
Applicant Income
Sidney State Bank lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $75k-100k, with 11 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 51 | $7,395,000 | $145,000 | $0 | 0.00% |
Sidney State Bank lent most frequently to those with DTI ratios of Exempt%, with 51 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 48 | $6,660,000 | $138,750 | $0 | 0.00% |
| Not applicable | 3 | $735,000 | $245,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications91.30%
Sidney State Bank has an average approval rate.
Pick Rate
Approvals leading to origination76.47%
Sidney State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 51 | $7,395,000 | $145,000 |