Equitable Bank Mortgage Rates, Fees & Info

Grand Island, NE

LEI: 549300K5SWOZ1F2OHY48

Tax ID: 47-0151910

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Mortgage Data

Review & Overview

Equitable Bank is a smaller bank specializing in Home Purchase and Refi loans. Equitable Bank has a high proportion of conventional loans. Their top markets by origination volume include: Omaha, Grand Island, North Platte, Lincoln, and Fort Collins among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

Equitable 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.

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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.64% 10/13/24
30 Year Conventional Refi 6.50% 10/13/24
30 Year Cash-out Refi 6.65% 10/13/24
30 Year FHA Purchase 7.57% 10/13/24
15 Year Conventional Purchase 6.09% 10/13/24
15 Year Conventional Refi 6.28% 10/13/24
15 Year Cash-out Refi 6.28% 10/13/24
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.

Equitable Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Equitable Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

205

Origination Dollar Volume (All Markets)

$50,985,000

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
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 63 $23,185,000 $368,016 $0 0.00%
GRAND ISLAND, NE (FHA|USDA|VA) 58 $9,960,000 $171,724 $0 0.00%
North Platte, NE (FHA|USDA|VA) 47 $6,055,000 $128,830 $0 0.00%
LINCOLN, NE (FHA|USDA|VA) 5 $3,595,000 $719,000 $0 0.00%
Outside of Metro Areas 11 $2,465,000 $224,091 $0 0.00%
FORT COLLINS, CO (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 0.00%
Hastings, NE (FHA|USDA|VA) 5 $975,000 $195,000 $0 0.00%
Lexington, NE (FHA|USDA|VA) 3 $785,000 $261,667 $0 0.00%
Kearney, NE (FHA|USDA|VA) 4 $780,000 $195,000 $0 0.00%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
Norfolk, NE (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
WICHITA, KS (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Scottsbluff, NE (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Equitable Bank's top markets include Omaha, Grand Island, North Platte, Lincoln, and Fort Collins among others.

Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Equitable Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    METRO CU
    Similarity Rank: 56
    South Metro Federal Credit Union
    Similarity Rank: 75
    Cobalt Credit Union
    Similarity Rank: 192
    Adams Bank & Trust
    Similarity Rank: 198
    FOUR POINTS
    Similarity Rank: 240
    CENTRIS FEDERAL CREDIT UNION
    Similarity Rank: 243
    First State Bank
    Similarity Rank: 506
    Exchange Bank
    Similarity Rank: 530
    Central National Bank
    Similarity Rank: 550

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 204 $50,830,000 $249,167 $0 0.00%
    VA 1 $155,000 $155,000 $0 0.00%

    For 2023, Equitable Bank's most frequently originated type of loan was Conventional, with 204 originations. Their 2nd most popular type was VA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 133 $38,325,000 $288,158 $0 0.00%
    Refi 45 $10,885,000 $241,889 $0 0.00%
    Home Improvement 14 $720,000 $51,429 $0 0.00%
    Other 12 $930,000 $77,500 $0 0.00%
    Cash Out Refi 1 $125,000 $125,000 $0 0.00%

    For 2023, Equitable Bank's most frequently cited loan purpose was Home Purchase, with 133 originations. The 2nd most popular reason was Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 205 $50,985,000 $248,707 $0 0.00%

    For 2023, Equitable Bank's most frequently cited loan duration was Other, with 205 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 65 $3,935,000 $60,538 $0 0.00%
    $100k-200k 57 $8,225,000 $144,298 $0 0.00%
    $200k-400k 50 $14,050,000 $281,000 $0 0.00%
    $400k-600k 18 $8,590,000 $477,222 $0 0.00%
    $600k-1MM 9 $6,685,000 $742,778 $0 0.00%
    $1MM+ 6 $9,500,000 $1,583,333 $0 0.00%

    2023 saw Equitable Bank place emphasis on $100,000 or less loans with 65 originations, totaling $3,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 38 $7,660,000 $201,579 $0 0.00%
    $150k-250k 28 $8,300,000 $296,429 $0 0.00%
    $75k-100k 27 $4,125,000 $152,778 $0 0.00%
    $50k-75k 25 $3,605,000 $144,200 $0 0.00%
    $250k+ 21 $10,395,000 $495,000 $0 0.00%
    $50k or less 18 $1,740,000 $96,667 $0 0.00%

    Equitable Bank lent most frequently to those with incomes in the $100k-150k range, with 38 originations. The second most popular income band? $150k-250k, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 205 $50,985,000 $248,707 $0 0.00%

    Equitable Bank lent most frequently to those with DTI ratios of Exempt%, with 205 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 154 $35,850,000 $232,792 $0 0.00%
    Not applicable 39 $12,305,000 $315,513 $0 0.00%
    Not provided 9 $2,425,000 $269,444 $0 0.00%
    Asian 3 $405,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.10%

    Equitable 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
    86.34%

    Equitable Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 205 $50,985,000 $248,707

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    205 $50,985,000 $248,707