Horizon Bank Mortgage Rates, Fees & Info
Waverly, NELEI: 549300S8PW45KP1BXG51
Tax ID: 47-0218913
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Mortgage Data
Review & Overview
Horizon Bank is a smaller bank specializing in Home Purchase loans. Horizon Bank has a high proportion of conventional loans. Their top markets by origination volume include: Little Rock, Blytheville, Kansas City, Oklahoma City, and Cedar Rapids among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)Horizon 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
29Origination Dollar Volume (All Markets)
$39,885,000Top 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 |
|---|---|---|---|---|---|
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 3 | $15,605,000 | $5,201,667 | $0 | 0.00% |
| Blytheville, AR (FHA|USDA|VA) | 1 | $6,205,000 | $6,205,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 3 | $3,985,000 | $1,328,333 | $0 | 0.00% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $3,365,000 | $3,365,000 | $0 | 0.00% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 2 | $1,680,000 | $840,000 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $1,510,000 | $251,667 | $0 | 0.00% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 1 | $965,000 | $965,000 | $0 | 0.00% |
| Norfolk, NE (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $0 | 0.00% |
| WICHITA FALLS, TX (FHA|USDA|VA) | 1 | $895,000 | $895,000 | $0 | 0.00% |
| Kearney, NE (FHA|USDA|VA) | 1 | $865,000 | $865,000 | $0 | 0.00% |
| DUBUQUE, IA (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 0.00% |
| RAPID CITY, SD (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $0 | 0.00% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $0 | 0.00% |
| ENID, OK (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| Parsons, KS (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| Stillwater, OK (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 29 | $39,885,000 | $1,375,345 | $0 | 0.00% |
For 2018, Horizon Bank's most frequently originated type of loan was Conventional, with 29 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 26 | $39,480,000 | $1,518,462 | $0 | 0.00% |
| Refi | 2 | $390,000 | $195,000 | $0 | 0.00% |
| Cash Out Refi | 1 | $15,000 | $15,000 | $0 | 0.00% |
For 2018, Horizon Bank's most frequently cited loan purpose was Home Purchase, with 26 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 29 | $39,885,000 | $1,375,345 | $0 | 0.00% |
For 2018, Horizon Bank's most frequently cited loan duration was Other, with 29 originations.
Loan Sizing
2018 saw Horizon Bank place emphasis on $600k-1MM loans with 9 originations, totaling $7,385,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 1 | $15,000 | $15,000 | $0 | 0.00% |
| $75k-100k | 1 | $35,000 | $35,000 | $0 | 0.00% |
Horizon Bank lent most frequently to those with incomes in the $50k or less range, with 1 originations. The second most popular income band? $75k-100k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 29 | $39,885,000 | $1,375,345 | $0 | 0.00% |
Horizon Bank lent most frequently to those with DTI ratios of Exempt%, with 29 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 27 | $39,835,000 | $1,475,370 | $0 | 0.00% |
| White | 2 | $50,000 | $25,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications80.49%
Horizon Bank has a below average approval rate.
Pick Rate
Approvals leading to origination86.21%
Horizon Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 29 | $39,885,000 | $1,375,345 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Horizon Financial Group, Inc. | FHA mortgage | Closing on a mortgage | 1 | 100.0% |