Central State Bank Mortgage Rates, Fees & Info
Elkader, IALEI: 549300QJ1W5RNY1X4D75
Tax ID: 42-0175420
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Central State Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Central State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Iowa City, Miami, North Port, Cedar Rapids, and New York among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Central State 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.
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Originations
78Origination Dollar Volume (All Markets)
$34,850,000Top 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 |
|---|---|---|---|---|---|
| IOWA CITY, IA (FHA|USDA|VA) | 24 | $12,700,000 | $529,167 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $6,755,000 | $6,755,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $4,895,000 | $979,000 | $0 | 0.00% |
| Outside of Metro Areas | 29 | $3,335,000 | $115,000 | $0 | 0.00% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 12 | $2,370,000 | $197,500 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $1,495,000 | $1,495,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $1,330,000 | $665,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 0.00% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $0 | 0.00% |
| Muscatine, IA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 78 | $34,850,000 | $446,795 | $0 | 0.00% |
For 2022, Central State Bank's most frequently originated type of loan was Conventional, with 78 originations.
Loan Reason
For 2022, Central State Bank's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Cash Out Refi, with 19 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 78 | $34,850,000 | $446,795 | $0 | 0.00% |
For 2022, Central State Bank's most frequently cited loan duration was Other, with 78 originations.
Loan Sizing
2022 saw Central State Bank place emphasis on $100,000 or less loans with 23 originations, totaling $1,205,000 in origination value.
Applicant Income
Central State Bank lent most frequently to those with incomes in the $50k-75k range, with 12 originations. The second most popular income band? $75k-100k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 78 | $34,850,000 | $446,795 | $0 | 0.00% |
Central State Bank lent most frequently to those with DTI ratios of Exempt%, with 78 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.81%
Central State Bank has an average approval rate.
Pick Rate
Approvals leading to origination83.33%
Central State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 78 | $34,850,000 | $446,795 |