Equitable Bank Mortgage Rates, Fees & Info
Grand Island, NELEI: 549300K5SWOZ1F2OHY48
Tax ID: 47-0151910
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Mortgage Data
Review & Overview
Equitable Bank is a smaller bank specializing in Home Purchase loans. Equitable Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Omaha, Grand Island, North Platte, Lincoln, and Kearney among others. We have data for 8 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.
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Originations
172Origination Dollar Volume (All Markets)
$36,910,000Top 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 |
|---|---|---|---|---|---|
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 56 | $16,140,000 | $288,214 | $0 | 0.00% |
| GRAND ISLAND, NE (FHA|USDA|VA) | 46 | $7,450,000 | $161,957 | $0 | 0.00% |
| North Platte, NE (FHA|USDA|VA) | 40 | $5,700,000 | $142,500 | $0 | 0.00% |
| Outside of Metro Areas | 18 | $4,050,000 | $225,000 | $0 | 0.00% |
| LINCOLN, NE (FHA|USDA|VA) | 4 | $1,850,000 | $462,500 | $0 | 0.00% |
| Kearney, NE (FHA|USDA|VA) | 4 | $880,000 | $220,000 | $0 | 0.00% |
| Hastings, NE (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $0 | 0.00% |
| Lexington, NE (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
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.
Similarity Rank: 45
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Similarity Rank: 459
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Similarity Rank: 560
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 169 | $35,835,000 | $212,041 | $0 | 0.00% |
| FHA | 2 | $440,000 | $220,000 | $0 | 0.00% |
| VA | 1 | $635,000 | $635,000 | $0 | 0.00% |
For 2024, Equitable Bank's most frequently originated type of loan was Conventional, with 169 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
For 2024, Equitable Bank's most frequently cited loan purpose was Home Purchase, with 117 originations. The 2nd most popular reason was Refi, with 28 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 172 | $36,910,000 | $214,593 | $0 | 0.00% |
For 2024, Equitable Bank's most frequently cited loan duration was Other, with 172 originations.
Loan Sizing
2024 saw Equitable Bank place emphasis on $100,000 or less loans with 51 originations, totaling $2,565,000 in origination value.
Applicant Income
Equitable Bank lent most frequently to those with incomes in the $50k-75k range, with 35 originations. The second most popular income band? $150k-250k, with 26 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 172 | $36,910,000 | $214,593 | $0 | 0.00% |
Equitable Bank lent most frequently to those with DTI ratios of Exempt%, with 172 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.34%
Equitable Bank has an average approval rate.
Pick Rate
Approvals leading to origination83.72%
Equitable Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 172 | $36,910,000 | $214,593 |