Crossroads Bank Mortgage Rates, Fees & Info

Wabash, IN

LEI: 549300KTSX5SM2W0VV58

Tax ID: 35-1131741

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Crossroads Bank is a smaller bank specializing in Home Purchase loans. Crossroads Bank has a high proportion of conventional loans. Their top markets by origination volume include: Wabash, Warsaw, Fort Wayne, Muncie, and Peru among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Crossroads 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. Crossroads Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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

    216

    Origination Dollar Volume (All Markets)

    $40,820,000
    Show all (8) awards

    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
    Wabash, IN (FHA|USDA|VA) 95 $16,725,000 $176,053 $1,525 6.43%
    Warsaw, IN (FHA|USDA|VA) 32 $8,090,000 $252,813 $1,577 6.32%
    FORT WAYNE, IN (FHA|USDA|VA) 36 $7,200,000 $200,000 $1,523 6.84%
    MUNCIE, IN (FHA|USDA|VA) 14 $2,540,000 $181,429 $1,281 6.99%
    Peru, IN (FHA|USDA|VA) 11 $1,485,000 $135,000 $1,813 6.44%
    Kendallville, IN (FHA|USDA|VA) 5 $985,000 $197,000 $1,642 6.65%
    Marion, IN (FHA|USDA|VA) 2 $650,000 $325,000 $1,252 6.75%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $495,000 $495,000 $5,150 6.25%
    KOKOMO, IN (FHA|USDA|VA) 2 $470,000 $235,000 $1,911 6.63%
    Huntington, IN (FHA|USDA|VA) 2 $400,000 $200,000 $1,919 6.25%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $395,000 $395,000 $2,585 6.00%
    Outside of Metro Areas 3 $335,000 $111,667 $1,597 6.58%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 7 $325,000 $46,429 $0 7.16%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $235,000 $235,000 $1,974 7.00%
    Decatur, IN (FHA|USDA|VA) 2 $230,000 $115,000 $1,732 6.44%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $215,000 $215,000 $2,046 5.88%
    Logansport, IN (FHA|USDA|VA) 1 $45,000 $45,000 $1,433 6.50%
    Crossroads Bank's top markets include Wabash, Warsaw, Fort Wayne, Muncie, and Peru among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

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

    INTERRA CREDIT UNION
    Similarity Rank: 96
    Crossroads Bank
    Similarity Rank: 153
    ProFed Federal Credit Union
    Similarity Rank: 190
    First Farmers Bank and Trust Company
    Similarity Rank: 205
    Fire Police City County Federal Credit Union
    Similarity Rank: 336
    First Federal Bank of the Midwest
    Similarity Rank: 582
    PARTNERS 1ST Federal Credit Union
    Similarity Rank: 621
    BEACON CREDIT UNION
    Similarity Rank: 630
    MIDWEST AMERICA
    Similarity Rank: 640
    Lake City Bank
    Similarity Rank: 759

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 216 $40,820,000 $188,981 $1,590 6.55%

    For 2023, Crossroads Bank's most frequently originated type of loan was Conventional, with 216 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 149 $30,305,000 $203,389 $1,658 6.53%
    Cash Out Refi 35 $6,195,000 $177,000 $1,631 6.68%
    Refi 17 $2,875,000 $169,118 $1,225 6.50%
    Home Improvement 8 $780,000 $97,500 $1,466 6.38%
    Other 7 $665,000 $95,000 $1,286 6.50%

    For 2023, Crossroads Bank's most frequently cited loan purpose was Home Purchase, with 149 originations. The 2nd most popular reason was Cash Out Refi, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 126 $27,070,000 $214,841 $1,664 6.24%
    20 Year 50 $6,620,000 $132,400 $1,550 7.05%
    15 Year 27 $3,255,000 $120,556 $1,294 6.66%
    1 Year 6 $1,360,000 $226,667 $1,518 7.71%
    Other 5 $2,425,000 $485,000 $0 7.15%
    10 Year 2 $90,000 $45,000 $1,193 7.00%

    For 2023, Crossroads Bank's most frequently cited loan duration was 30 Year, with 126 originations. The 2nd most popular length was 20 Year, with 50 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 159 $30,265,000 $190,346
    $1k-2k 7 $935,000 $133,571
    $2k-3k 1 $55,000 $55,000

    Crossroads Bank's average total fees were $1,664, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 159 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 107 $19,895,000 $185,935
    5-6% 65 $12,395,000 $190,692
    7-8% 42 $7,440,000 $177,143
    3-4% 1 $725,000 $725,000
    Over 8% 1 $365,000 $365,000

    During 2023, Crossroads Bank's average interest rate for loans was 6.24%, while their most frequently originated rate bucket for loans was 6-7%, with 107 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 85 $12,435,000 $146,294 $1,590 6.52%
    $100,000 or less 63 $3,785,000 $60,079 $1,537 6.70%
    $200k-400k 52 $14,480,000 $278,462 $1,557 6.44%
    $400k-600k 8 $3,720,000 $465,000 $1,943 6.45%
    $600k-1MM 7 $5,045,000 $720,714 $1,855 6.25%
    $1MM+ 1 $1,355,000 $1,355,000 $0 7.50%

    2023 saw Crossroads Bank place emphasis on $100k-200k loans with 85 originations, totaling $12,435,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 43 $6,145,000 $142,907 $1,568 6.22%
    $100k-150k 38 $8,890,000 $233,947 $1,560 6.38%
    $75k-100k 32 $4,480,000 $140,000 $1,480 6.50%
    $50k or less 29 $2,345,000 $80,862 $1,699 6.59%
    $150k-250k 21 $5,675,000 $270,238 $1,633 6.46%
    $250k+ 12 $5,070,000 $422,500 $1,713 6.23%

    Crossroads Bank lent most frequently to those with incomes in the $50k-75k range, with 43 originations. The second most popular income band? $100k-150k, with 38 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 62 $11,400,000 $183,871 $1,684 6.33%
    <20% 31 $3,965,000 $127,903 $1,458 6.50%
    30-36% 25 $5,695,000 $227,800 $1,606 6.33%
    37% 8 $1,590,000 $198,750 $1,603 6.36%
    40% 6 $790,000 $131,667 $1,628 6.58%
    36% 6 $1,110,000 $185,000 $1,485 5.79%
    38% 5 $455,000 $91,000 $1,507 6.73%
    39% 4 $1,270,000 $317,500 $1,328 6.44%
    50-60% 4 $1,720,000 $430,000 $2,106 6.34%
    42% 3 $515,000 $171,667 $1,567 6.08%
    41% 3 $1,175,000 $391,667 $1,544 6.17%
    43% 3 $835,000 $278,333 $1,313 6.13%
    45% 2 $180,000 $90,000 $1,280 6.69%
    46% 1 $305,000 $305,000 $907 5.25%
    47% 1 $115,000 $115,000 $1,553 7.00%
    48% 1 $395,000 $395,000 $924 6.75%
    49% 1 $25,000 $25,000 $1,969 5.50%
    44% 1 $305,000 $305,000 $1,154 6.25%
    >60% 1 $135,000 $135,000 $2,273 7.50%

    Crossroads Bank lent most frequently to those with DTI ratios of 20-30%, with 62 originations. The next most common DTI ratio? <20%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 178 $33,610,000 $188,820 $1,590 6.42%
    Not applicable 38 $7,210,000 $189,737 $0 7.17%

    Approval Rates

    Total approvals of all applications
    94.42%

    Crossroads Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.28%

    Crossroads Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 216 $40,820,000 $188,981

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    216 $40,820,000 $188,981

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $1,800,000 $100,000 $1,463 6.59%
    40-60% 21 $4,395,000 $209,286 $1,687 6.59%
    60-80% 104 $21,400,000 $205,769 $1,595 6.58%
    80-100% 66 $12,970,000 $196,515 $1,635 6.40%
    Under 20% 7 $255,000 $36,429 $1,216 7.16%