Walcott Trust And Savings Bank Mortgage Rates, Fees & Info
Walcott, IALEI: 549300QITILXWOW8BS35
Tax ID: 42-0583120
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Mortgage Data
Review & Overview
Walcott Trust And Savings Bank is a smaller bank specializing in Refi loans. Walcott Trust And Savings Bank has a high proportion of conventional loans. Their top (well, only) market is Davenport.Walcott Trust And Savings Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
27Origination Dollar Volume (All Markets)
$3,175,000Top 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 |
---|---|---|---|---|---|
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 21 | $2,355,000 | $112,143 | $259 | 4.75% |
Outside of Metro Areas | 6 | $820,000 | $136,667 | $270 | 5.17% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 27 | $3,175,000 | $117,593 | $266 | 4.84% |
For 2020, Walcott Trust And Savings Bank's most frequently originated type of loan was Conventional, with 27 originations.
Loan Reason
Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Refi | 23 | $2,845,000 | $123,696 | $266 | 4.87% |
Home Purchase | 4 | $330,000 | $82,500 | $0 | 4.69% |
For 2020, Walcott Trust And Savings Bank's most frequently cited loan purpose was Refi, with 23 originations. The 2nd most popular reason was Home Purchase, with 4 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
5 Year | 18 | $2,590,000 | $143,889 | $0 | 4.47% |
Other | 8 | $490,000 | $61,250 | $266 | 5.50% |
1 Year | 1 | $95,000 | $95,000 | $0 | 6.25% |
For 2020, Walcott Trust And Savings Bank's most frequently cited loan duration was 5 Year, with 18 originations. The 2nd most popular length was Other, with 8 originations.
Origination Fees/Closing Costs
Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
---|---|---|---|
$<1k | 6 | $410,000 | $68,333 |
Walcott Trust And Savings Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 6 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
4-5% | 13 | $1,835,000 | $141,154 |
5-6% | 9 | $515,000 | $57,222 |
3-4% | 4 | $730,000 | $182,500 |
6-7% | 1 | $95,000 | $95,000 |
During 2020, Walcott Trust And Savings Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 13 originations.
Loan Sizing
2020 saw Walcott Trust And Savings Bank place emphasis on $100,000 or less loans with 19 originations, totaling $1,025,000 in origination value.
Applicant Income
Walcott Trust And Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $150k-250k, with 3 originations.
Applicant Debt to Income Ratio
Walcott Trust And Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 3 originations. The next most common DTI ratio? <20%, with 2 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
White | 17 | $2,135,000 | $125,588 | $266 | 4.82% |
Not applicable | 10 | $1,040,000 | $104,000 | $0 | 4.88% |
Approval Rates
Total approvals of all applications85.71%
Walcott Trust And Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.89%
Walcott Trust And Savings Bank has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 27 | $3,175,000 | $117,593 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Multifamily:Site-Built | 5 | $1,175,000 | $235,000 |
Single Family (1-4 Units):Site-Built | 22 | $2,000,000 | $90,909 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
Williston Financial Group | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |