Salin Bank & Trust Company Mortgage Rates, Fees & Info

Indianapolis, IN

LEI: 549300SNADAUHBKPD976

Tax ID: 35-1571643

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

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Salin Bank & Trust Company is a smaller bank specializing in Home Purchase and Refi loans. Salin Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, Lafayette, Kokomo, Columbus, and Fort Wayne among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Salin Bank & Trust Company 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. Salin Bank & Trust Company is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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

    218

    Origination Dollar Volume (All Markets)

    $42,440,000
    Show all (5) awards

    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
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 48 $13,680,000 $285,000 $2,096 4.78%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 53 $11,515,000 $217,264 $1,781 4.83%
    KOKOMO, IN (FHA|USDA|VA) 27 $5,085,000 $188,333 $1,949 4.77%
    COLUMBUS, IN (FHA|USDA|VA) 14 $2,980,000 $212,857 $1,585 4.59%
    FORT WAYNE, IN (FHA|USDA|VA) 22 $2,900,000 $131,818 $1,023 4.94%
    Logansport, IN (FHA|USDA|VA) 20 $1,420,000 $71,000 $1,356 4.75%
    Outside of Metro Areas 5 $595,000 $119,000 $2,115 4.75%
    Warsaw, IN (FHA|USDA|VA) 2 $510,000 $255,000 $2,361 5.21%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $470,000 $235,000 $0 5.50%
    ELKHART-GOSHEN, IN (FHA|USDA|VA) 2 $370,000 $185,000 $2,312 4.19%
    Marion, IN (FHA|USDA|VA) 7 $365,000 $52,143 $688 4.63%
    Kendallville, IN (FHA|USDA|VA) 1 $325,000 $325,000 $2,442 4.38%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $325,000 $325,000 $2,257 4.50%
    North Vernon, IN (FHA|USDA|VA) 1 $305,000 $305,000 $3,081 3.75%
    Angola, IN (FHA|USDA|VA) 2 $260,000 $130,000 $0 5.88%
    Peru, IN (FHA|USDA|VA) 1 $255,000 $255,000 $2,464 4.88%
    Frankfort, IN (FHA|USDA|VA) 3 $245,000 $81,667 $1,650 5.13%
    Wabash, IN (FHA|USDA|VA) 2 $230,000 $115,000 $2,767 4.50%
    Auburn, IN (FHA|USDA|VA) 2 $220,000 $110,000 $1,094 5.06%
    Crawfordsville, IN (FHA|USDA|VA) 1 $185,000 $185,000 $1,773 4.00%
    Seymour, IN (FHA|USDA|VA) 1 $105,000 $105,000 $2,085 4.88%
    MUNCIE, IN (FHA|USDA|VA) 1 $95,000 $95,000 $1,651 4.50%
    Salin Bank & Trust Company's top markets include Indianapolis, Lafayette, Kokomo, Columbus, and Fort Wayne among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Salin Bank & Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Community First Bank of Indiana
    Similarity Rank: 117
    Greenfield Banking Company
    Similarity Rank: 255
    Security Federal Savings Bank
    Similarity Rank: 351
    Hendricks County Bank and Trust Company
    Similarity Rank: 393
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 450
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    1st Source Bank
    Similarity Rank: 836
    The Farmers Bank, Frankfort, Indiana
    Similarity Rank: 1012
    The National Bank of Indianapolis
    Similarity Rank: 1020
    Stock Yards Bank & Trust Company
    Similarity Rank: 1176

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 218 $42,440,000 $194,679 $1,714 4.79%

    For 2018, Salin Bank & Trust Company's most frequently originated type of loan was Conventional, with 218 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 118 $25,780,000 $218,475 $2,434 4.54%
    Cash Out Refi 51 $3,185,000 $62,451 $883 5.00%
    Refi 29 $12,675,000 $437,069 $1,594 5.16%
    Home Improvement 20 $800,000 $40,000 $0 5.26%

    For 2018, Salin Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 118 originations. The 2nd most popular reason was Cash Out Refi, with 51 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 108 $20,100,000 $186,111 $2,463 4.52%
    10 Year 63 $5,345,000 $84,841 $13 5.23%
    15 Year 14 $1,650,000 $117,857 $2,342 4.25%
    5 Year 13 $6,935,000 $533,462 $0 5.65%
    20 Year 8 $2,970,000 $371,250 $2,038 4.65%
    30+ year 6 $2,230,000 $371,667 $3,470 4.21%
    Other 5 $2,965,000 $593,000 $1,685 5.55%
    3 Year 1 $245,000 $245,000 $0 4.88%

    For 2018, Salin Bank & Trust Company's most frequently cited loan duration was 30 Year, with 108 originations. The 2nd most popular length was 10 Year, with 63 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 152 $20,810,000 $136,908
    $1k-2k 28 $4,150,000 $148,214
    $2k-3k 9 $1,075,000 $119,444
    $3k-4k 4 $790,000 $197,500
    $4k-5k 2 $440,000 $220,000

    Salin Bank & Trust Company's average total fees were $2,463, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 152 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 124 $22,180,000 $178,871
    5-6% 54 $11,800,000 $218,519
    3-4% 27 $6,325,000 $234,259
    6-7% 12 $1,650,000 $137,500
    2.5-3% 1 $485,000 $485,000

    During 2018, Salin Bank & Trust Company's average interest rate for loans was 4.52%, while their most frequently originated rate bucket for loans was 4-5%, with 124 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 104 $5,220,000 $50,192 $998 4.97%
    $100k-200k 56 $7,620,000 $136,071 $2,316 4.74%
    $200k-400k 38 $10,500,000 $276,316 $2,438 4.61%
    $400k-600k 12 $5,850,000 $487,500 $2,894 4.17%
    $1MM+ 5 $11,185,000 $2,237,000 $6,404 4.98%
    $600k-1MM 3 $2,065,000 $688,333 $2,836 4.38%

    2018 saw Salin Bank & Trust Company place emphasis on $100,000 or less loans with 104 originations, totaling $5,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 50 $3,340,000 $66,800 $1,561 4.85%
    $50k-75k 47 $5,015,000 $106,702 $1,698 4.69%
    $75k-100k 40 $4,710,000 $117,750 $1,502 4.70%
    $100k-150k 30 $4,840,000 $161,333 $1,885 4.74%
    $250k+ 18 $7,080,000 $393,333 $2,303 4.42%
    $150k-250k 12 $2,780,000 $231,667 $1,941 4.68%

    Salin Bank & Trust Company lent most frequently to those with incomes in the $50k or less range, with 50 originations. The second most popular income band? $50k-75k, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 53 $6,855,000 $129,340 $1,769 4.67%
    30-36% 48 $6,540,000 $136,250 $1,737 4.73%
    <20% 30 $4,340,000 $144,667 $1,264 4.70%
    36% 15 $1,625,000 $108,333 $1,399 5.03%
    39% 10 $2,430,000 $243,000 $2,362 4.61%
    38% 8 $1,070,000 $133,750 $1,458 4.97%
    40% 6 $1,110,000 $185,000 $2,352 4.46%
    37% 6 $980,000 $163,333 $2,391 4.52%
    41% 5 $435,000 $87,000 $1,139 5.00%
    42% 5 $565,000 $113,000 $1,119 4.65%
    44% 3 $215,000 $71,667 $1,799 4.46%
    49% 3 $505,000 $168,333 $2,038 4.54%
    46% 1 $145,000 $145,000 $3,300 5.00%
    50-60% 1 $275,000 $275,000 $2,767 4.38%
    >60% 1 $125,000 $125,000 $4,290 5.50%
    48% 1 $395,000 $395,000 $2,293 4.25%
    45% 1 $155,000 $155,000 $1,914 4.13%

    Salin Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 53 originations. The next most common DTI ratio? 30-36%, with 48 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 165 $22,055,000 $133,667 $1,569 4.76%
    Not applicable 19 $14,505,000 $763,421 $0 5.61%
    Not provided 23 $4,135,000 $179,783 $2,528 4.54%
    Asian 5 $1,205,000 $241,000 $2,408 4.53%
    Black 5 $385,000 $77,000 $1,816 4.38%
    American Indian 1 $155,000 $155,000 $2,418 4.25%

    Approval Rates

    Total approvals of all applications
    82.64%

    Salin Bank & Trust Company has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    63.76%

    Salin Bank & Trust Company has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 218 $42,440,000 $194,679

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $235,000 $235,000
    Multifamily:Site-Built 10 $12,780,000 $1,278,000
    Single Family (1-4 Units):Manufactured 1 $45,000 $45,000
    Single Family (1-4 Units):Site-Built 206 $29,380,000 $142,621

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $1,645,000 $71,522 $326 5.04%
    40-60% 31 $6,725,000 $216,935 $1,642 4.86%
    60-80% 50 $17,350,000 $347,000 $2,448 4.73%
    80-100% 80 $15,360,000 $192,000 $2,487 4.54%
    Under 20% 34 $1,360,000 $40,000 $62 5.26%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Selene Finance LP Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 1.9%
    Selene Finance LP Conventional home mortgage Closing on a mortgage 2 0.9%
    Selene Finance LP Conventional home mortgage Incorrect information on your report 1 0.5%
    Selene Finance LP Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.5%
    Selene Finance LP Conventional home mortgage Struggling to pay mortgage 62 29.0%
    Selene Finance LP Conventional home mortgage Trouble during payment process 39 18.2%
    Selene Finance LP FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 0.5%
    Selene Finance LP FHA mortgage Closing on a mortgage 2 0.9%
    Selene Finance LP FHA mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.5%
    Selene Finance LP FHA mortgage Struggling to pay mortgage 16 7.5%
    Selene Finance LP FHA mortgage Trouble during payment process 26 12.1%
    Selene Finance LP Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 0.5%
    Selene Finance LP Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 0.5%
    Selene Finance LP Home equity loan or line of credit (HELOC) Trouble during payment process 3 1.4%
    Selene Finance LP Other type of mortgage Closing on a mortgage 1 0.5%
    Selene Finance LP Other type of mortgage Incorrect information on your report 2 0.9%
    Selene Finance LP Other type of mortgage Struggling to pay mortgage 10 4.7%
    Selene Finance LP Other type of mortgage Trouble during payment process 15 7.0%
    Selene Finance LP VA mortgage Applying for a mortgage or refinancing an existing mortgage 4 1.9%
    Selene Finance LP VA mortgage Closing on a mortgage 2 0.9%
    Selene Finance LP VA mortgage Trouble during payment process 20 9.3%