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: Memphis, Oklahoma City, Des Moines, Lawrence, and Sioux Falls among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Horizon Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
28Origination Dollar Volume (All Markets)
$22,400,000Top 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 |
|---|---|---|---|---|---|
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $3,805,000 | $3,805,000 | $0 | 0.00% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $2,575,000 | $2,575,000 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $2,405,000 | $2,405,000 | $0 | 0.00% |
| LAWRENCE, KS (FHA|USDA|VA) | 1 | $2,385,000 | $2,385,000 | $0 | 0.00% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 2 | $1,690,000 | $845,000 | $0 | 0.00% |
| Elk City, OK (FHA|USDA|VA) | 3 | $1,555,000 | $518,333 | $0 | 0.00% |
| Pella, IA (FHA|USDA|VA) | 1 | $1,445,000 | $1,445,000 | $0 | 0.00% |
| TULSA, OK (FHA|USDA|VA) | 1 | $1,305,000 | $1,305,000 | $0 | 0.00% |
| RAPID CITY, SD (FHA|USDA|VA) | 1 | $915,000 | $915,000 | $0 | 0.00% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $0 | 0.00% |
| CHEYENNE, WY (FHA|USDA|VA) | 1 | $855,000 | $855,000 | $0 | 0.00% |
| WICHITA, KS (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $455,000 | $151,667 | $0 | 0.00% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 0.00% |
| LINCOLN, NE (FHA|USDA|VA) | 4 | $320,000 | $80,000 | $0 | 0.00% |
| Ottumwa, IA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| Fort Dodge, IA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 28 | $22,400,000 | $800,000 | $0 | 0.00% |
For 2019, Horizon Bank's most frequently originated type of loan was Conventional, with 28 originations.
Loan Reason
For 2019, Horizon Bank's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Cash Out Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 28 | $22,400,000 | $800,000 | $0 | 0.00% |
For 2019, Horizon Bank's most frequently cited loan duration was Other, with 28 originations.
Loan Sizing
2019 saw Horizon Bank place emphasis on $1MM+ loans with 6 originations, totaling $13,920,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 3 | $115,000 | $38,333 | $0 | 0.00% |
| $100k-150k | 1 | $15,000 | $15,000 | $0 | 0.00% |
Horizon Bank lent most frequently to those with incomes in the $50k or less range, with 3 originations. The second most popular income band? $100k-150k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 28 | $22,400,000 | $800,000 | $0 | 0.00% |
Horizon Bank lent most frequently to those with DTI ratios of Exempt%, with 28 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 24 | $22,270,000 | $927,917 | $0 | 0.00% |
| White | 4 | $130,000 | $32,500 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.77%
Horizon Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination92.86%
Horizon Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 28 | $22,400,000 | $800,000 |