Security Savings Bank Mortgage Rates, Fees & Info

Larchwood, IA

LEI: 549300R92KASZD16MT49

Tax ID: 42-0515640

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

Jump to:

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, Tampa, and Mankato among others. We have data for 4 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.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


Originations

42

Origination Dollar Volume (All Markets)

$7,130,000

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 28 $3,310,000 $118,214 $0 0.00%
SIOUX FALLS, SD (FHA|USDA|VA) 12 $3,280,000 $273,333 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
MANKATO, MN (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Security Savings Bank's top markets include Sioux Falls, Tampa, and Mankato among others.

Their top states include:
  • South Dakota (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 42 $7,130,000 $169,762 $0 0.00%

    For 2023, Security Savings Bank's most frequently originated type of loan was Conventional, with 42 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 23 $5,565,000 $241,957 $0 0.00%
    Refi 10 $1,270,000 $127,000 $0 0.00%
    Other 6 $140,000 $23,333 $0 0.00%
    Home Improvement 3 $155,000 $51,667 $0 0.00%

    For 2023, Security Savings Bank's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Refi, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 42 $7,130,000 $169,762 $0 0.00%

    For 2023, Security Savings Bank's most frequently cited loan duration was Other, with 42 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 18 $900,000 $50,000 $0 0.00%
    $100k-200k 12 $1,720,000 $143,333 $0 0.00%
    $200k-400k 6 $1,680,000 $280,000 $0 0.00%
    $400k-600k 6 $2,830,000 $471,667 $0 0.00%

    2023 saw Security Savings Bank place emphasis on $100,000 or less loans with 18 originations, totaling $900,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 10 $690,000 $69,000 $0 0.00%
    $100k-150k 8 $1,470,000 $183,750 $0 0.00%
    $150k-250k 6 $2,120,000 $353,333 $0 0.00%
    $50k-75k 4 $370,000 $92,500 $0 0.00%
    $75k-100k 3 $305,000 $101,667 $0 0.00%
    $250k+ 1 $265,000 $265,000 $0 0.00%

    Security Savings Bank lent most frequently to those with incomes in the $50k or less range, with 10 originations. The second most popular income band? $100k-150k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 42 $7,130,000 $169,762 $0 0.00%

    Security Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 25 $4,055,000 $162,200 $0 0.00%
    Not applicable 9 $1,825,000 $202,778 $0 0.00%
    Not provided 8 $1,250,000 $156,250 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.54%

    Security Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.86%

    Security Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 42 $7,130,000 $169,762

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    42 $7,130,000 $169,762