Central State Bank Mortgage Rates, Fees & Info

Elkader, IA

LEI: 549300QJ1W5RNY1X4D75

Tax ID: 42-0175420

Latest/2023 | 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
  • 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

    Central State Bank is a smaller bank specializing in Home Purchase loans. Central State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Iowa City, Cape Coral, Ames, Platteville, and Cedar Rapids among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Central State 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.

    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

    40

    Origination Dollar Volume (All Markets)

    $5,080,000

    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
    Outside of Metro Areas 23 $2,165,000 $94,130 $0 0.00%
    IOWA CITY, IA (FHA|USDA|VA) 12 $1,830,000 $152,500 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $675,000 $675,000 $0 0.00%
    AMES, IA (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Platteville, WI (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 2 $130,000 $65,000 $0 0.00%
    Central State Bank's top markets include Iowa City, Cape Coral, Ames, Platteville, and Cedar Rapids among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 40 $5,080,000 $127,000 $0 0.00%

    For 2023, Central State Bank's most frequently originated type of loan was Conventional, with 40 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 22 $3,680,000 $167,273 $0 0.00%
    Cash Out Refi 11 $845,000 $76,818 $0 0.00%
    Refi 3 $305,000 $101,667 $0 0.00%
    Home Improvement 2 $110,000 $55,000 $0 0.00%
    Other 2 $140,000 $70,000 $0 0.00%

    For 2023, Central State Bank's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Cash Out Refi, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 40 $5,080,000 $127,000 $0 0.00%

    For 2023, Central State Bank's most frequently cited loan duration was Other, with 40 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 22 $1,100,000 $50,000 $0 0.00%
    $100k-200k 10 $1,450,000 $145,000 $0 0.00%
    $200k-400k 6 $1,440,000 $240,000 $0 0.00%
    $400k-600k 1 $415,000 $415,000 $0 0.00%
    $600k-1MM 1 $675,000 $675,000 $0 0.00%

    2023 saw Central State Bank place emphasis on $100,000 or less loans with 22 originations, totaling $1,100,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 9 $445,000 $49,444 $0 0.00%
    $50k-75k 6 $800,000 $133,333 $0 0.00%
    $100k-150k 5 $685,000 $137,000 $0 0.00%
    $75k-100k 4 $220,000 $55,000 $0 0.00%
    $150k-250k 2 $60,000 $30,000 $0 0.00%
    $250k+ 2 $320,000 $160,000 $0 0.00%

    Central State Bank lent most frequently to those with incomes in the $50k or less range, with 9 originations. The second most popular income band? $50k-75k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 40 $5,080,000 $127,000 $0 0.00%

    Central State Bank lent most frequently to those with DTI ratios of Exempt%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 31 $2,945,000 $95,000 $0 0.00%
    Not applicable 9 $2,135,000 $237,222 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.19%

    Central State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.50%

    Central State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 40 $5,080,000 $127,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    40 $5,080,000 $127,000