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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.64% | 4/19/24 |
| 30 Year Conventional Refi | 6.50% | 4/19/24 |
| 30 Year Cash-out Refi | 6.65% | 4/19/24 |
| 30 Year FHA Purchase | 7.57% | 4/19/24 |
| 15 Year Conventional Purchase | 6.09% | 4/19/24 |
| 15 Year Conventional Refi | 6.28% | 4/19/24 |
| 15 Year Cash-out Refi | 6.28% | 4/19/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
205Origination Dollar Volume (All Markets)
$50,985,000Top 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) | 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% |
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.
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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
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
2023 saw Equitable Bank place emphasis on $100,000 or less loans with 65 originations, totaling $3,935,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications95.10%
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 origination86.34%
Equitable Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 205 | $50,985,000 | $248,707 |