Security Savings Bank Mortgage Rates, Fees & Info
Larchwood, IALEI: 549300R92KASZD16MT49
Tax ID: 42-0515640
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Security Savings Bank is a smaller bank specializing in Home Purchase loans. Security Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Sioux Falls, Willmar, Ames, Worthington, and Spirit Lake among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Security Savings Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.
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Originations
41Origination Dollar Volume (All Markets)
$7,895,000Top 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 |
|---|---|---|---|---|---|
| SIOUX FALLS, SD (FHA|USDA|VA) | 18 | $4,420,000 | $245,556 | $0 | 0.00% |
| Outside of Metro Areas | 17 | $2,215,000 | $130,294 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 0.00% |
| AMES, IA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| Worthington, MN (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $0 | 0.00% |
| Spirit Lake, IA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 41 | $7,895,000 | $192,561 | $0 | 0.00% |
For 2024, Security Savings Bank's most frequently originated type of loan was Conventional, with 41 originations.
Loan Reason
For 2024, Security Savings Bank's most frequently cited loan purpose was Home Purchase, with 28 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 41 | $7,895,000 | $192,561 | $0 | 0.00% |
For 2024, Security Savings Bank's most frequently cited loan duration was Other, with 41 originations.
Loan Sizing
2024 saw Security Savings Bank place emphasis on $100k-200k loans with 16 originations, totaling $2,260,000 in origination value.
Applicant Income
Security Savings Bank lent most frequently to those with incomes in the $250k+ range, with 7 originations. The second most popular income band? $75k-100k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 41 | $7,895,000 | $192,561 | $0 | 0.00% |
Security Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 41 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 29 | $5,175,000 | $178,448 | $0 | 0.00% |
| Not applicable | 12 | $2,720,000 | $226,667 | $0 | 0.00% |
Approval Rates
Total approvals of all applications88.00%
Security Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination92.68%
Security Savings Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 41 | $7,895,000 | $192,561 |