Sidney State Bank Mortgage Rates, Fees & Info

Sidney Township, MI

LEI: 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 an above average pick rate when compared to similar lenders.

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Originations

116

Origination Dollar Volume (All Markets)

$14,820,000

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
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 112 $14,510,000 $129,554 $0 0.00%
Alma, MI (FHA|USDA|VA) 4 $310,000 $77,500 $0 0.00%
Sidney State Bank's top markets include Grand Rapids and Alma among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 116 $14,820,000 $127,759 $0 0.00%

    For 2022, Sidney State Bank's most frequently originated type of loan was Conventional, with 116 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 75 $9,175,000 $122,333 $0 0.00%
    Home Purchase 31 $4,665,000 $150,484 $0 0.00%
    Other 5 $505,000 $101,000 $0 0.00%
    Home Improvement 4 $380,000 $95,000 $0 0.00%
    Cash Out Refi 1 $95,000 $95,000 $0 0.00%

    For 2022, Sidney State Bank's most frequently cited loan purpose was Refi, with 75 originations. The 2nd most popular reason was Home Purchase, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 116 $14,820,000 $127,759 $0 0.00%

    For 2022, Sidney State Bank's most frequently cited loan duration was Other, with 116 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 49 $6,575,000 $134,184 $0 0.00%
    $100,000 or less 48 $2,830,000 $58,958 $0 0.00%
    $200k-400k 17 $4,495,000 $264,412 $0 0.00%
    $400k-600k 2 $920,000 $460,000 $0 0.00%

    2022 saw Sidney State Bank place emphasis on $100k-200k loans with 49 originations, totaling $6,575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 35 $4,115,000 $117,571 $0 0.00%
    $50k or less 32 $2,870,000 $89,688 $0 0.00%
    $75k-100k 13 $1,785,000 $137,308 $0 0.00%
    $100k-150k 12 $2,050,000 $170,833 $0 0.00%
    $150k-250k 11 $1,695,000 $154,091 $0 0.00%
    $250k+ 4 $1,000,000 $250,000 $0 0.00%

    Sidney State Bank lent most frequently to those with incomes in the $50k-75k range, with 35 originations. The second most popular income band? $50k or less, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 116 $14,820,000 $127,759 $0 0.00%

    Sidney State Bank lent most frequently to those with DTI ratios of Exempt%, with 116 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 106 $13,450,000 $126,887 $0 0.00%
    Not applicable 9 $1,305,000 $145,000 $0 0.00%
    Not provided 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.21%

    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 origination
    91.38%

    Sidney State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 116 $14,820,000 $127,759

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    116 $14,820,000 $127,759