American Bank & Trust Mortgage Rates, Fees & InfoWessington Springs, SD
Tax ID: 46-0108140
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewAmerican Bank & Trust is a smaller bank specializing in Home Purchase loans. American Bank & Trust has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Sioux Falls, Rapid City, Watertown, Aberdeen, and Pierre among others. We have data for 30 markets. (Some data included below & more in-depth data is available with an active subscription.)
American Bank & Trust has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. American Bank & Trust is typically an average 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.29%||12/4/23|
|30 Year Conventional Refi||6.18%||12/4/23|
|30 Year Cash-out Refi||6.38%||12/4/23|
|30 Year FHA Purchase||7.05%||12/4/23|
|30 Year FHA Refi||6.27%||12/4/23|
|30 Year VA Purchase||6.18%||12/4/23|
|30 Year USDA Purchase||6.66%||12/4/23|
|15 Year Conventional Purchase||5.93%||12/4/23|
|15 Year Conventional Refi||6.16%||12/4/23|
|15 Year Cash-out Refi||6.16%||12/4/23|
|These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.|
American Bank & Trust Mortgage Calculator
Your EstimatesEstimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from American Bank & Trust. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$247,660,000
American Bank & Trust - 2022
American Bank & Trust is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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American Bank & Trust's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.02%.
Relative Fees (Closing Costs)
American Bank & Trust's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,759.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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)||190||$65,520,000||$344,842||$4,980||4.76%|
|RAPID CITY, SD (FHA|USDA|VA)||3||$54,735,000||$18,245,000||$0||5.12%|
|Watertown, SD (FHA|USDA|VA)||91||$28,725,000||$315,659||$4,445||4.45%|
|Aberdeen, SD (FHA|USDA|VA)||96||$24,490,000||$255,104||$5,565||4.50%|
|Pierre, SD (FHA|USDA|VA)||37||$20,175,000||$545,270||$4,657||4.89%|
|DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA)||1||$17,625,000||$17,625,000||$0||3.50%|
|Outside of Metro Areas||76||$13,920,000||$183,158||$3,920||4.81%|
|Huron, SD (FHA|USDA|VA)||35||$7,545,000||$215,571||$3,830||5.07%|
|Worthington, MN (FHA|USDA|VA)||27||$3,815,000||$141,296||$3,461||4.50%|
|Spearfish, SD (FHA|USDA|VA)||3||$1,805,000||$601,667||$7,768||4.59%|
|PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA)||5||$1,595,000||$319,000||$6,468||4.38%|
|Brookings, SD (FHA|USDA|VA)||4||$1,240,000||$310,000||$4,353||4.34%|
|DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA)||2||$720,000||$360,000||$3,593||4.38%|
|FARGO, ND-MN (FHA|USDA|VA)||3||$715,000||$238,333||$5,608||4.92%|
|COLORADO SPRINGS, CO (FHA|USDA|VA)||1||$655,000||$655,000||$9,569||4.63%|
|ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA)||1||$455,000||$455,000||$8,133||3.75%|
|JACKSONVILLE, FL (FHA|USDA|VA)||1||$395,000||$395,000||$8,129||6.50%|
|TOPEKA, KS (FHA|USDA|VA)||1||$385,000||$385,000||$5,592||3.25%|
|PORT ST. LUCIE, FL (FHA|USDA|VA)||1||$365,000||$365,000||$6,842||3.63%|
|AMES, IA (FHA|USDA|VA)||2||$330,000||$165,000||$2,971||3.88%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||1||$325,000||$325,000||$6,599||4.50%|
|Marquette, MI (FHA|USDA|VA)||1||$315,000||$315,000||$4,735||5.25%|
|Yankton, SD (FHA|USDA|VA)||2||$310,000||$155,000||$1,326||3.88%|
|SIOUX CITY, IA-NE-SD (FHA|USDA|VA)||2||$300,000||$150,000||$3,041||5.06%|
|BOISE CITY, ID (FHA|USDA|VA)||1||$265,000||$265,000||$5,696||4.13%|
|Vermillion, SD (FHA|USDA|VA)||1||$225,000||$225,000||$0||4.50%|
|Marshall, MN (FHA|USDA|VA)||1||$225,000||$225,000||$0||6.75%|
|Spirit Lake, IA (FHA|USDA|VA)||1||$185,000||$185,000||$3,526||4.75%|
|MADISON, WI (FHA|USDA|VA)||1||$155,000||$155,000||$3,439||6.25%|
|RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA)||1||$145,000||$145,000||$5,098||5.50%|
We use machine learning to identify the top lenders compared against American Bank & Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, American Bank & Trust's most frequently originated type of loan was Conventional, with 533 originations. Their 2nd most popular type was FHA, with 24 originations.
For 2022, American Bank & Trust's most frequently cited loan purpose was Home Purchase, with 422 originations. The 2nd most popular reason was Refi, with 104 originations.
For 2022, American Bank & Trust's most frequently cited loan duration was 30 Year, with 340 originations. The 2nd most popular length was 5 Year, with 162 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
American Bank & Trust's average total fees were $4,759, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 121 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, American Bank & Trust's average interest rate for loans was 4.78%, while their most frequently originated rate bucket for loans was 4-5%, with 182 originations.
2022 saw American Bank & Trust place emphasis on $200k-400k loans with 214 originations, totaling $59,930,000 in origination value.
American Bank & Trust lent most frequently to those with incomes in the $50k-75k range, with 106 originations. The second most popular income band? $100k-150k, with 102 originations.
Applicant Debt to Income Ratio
American Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 97 originations. The next most common DTI ratio? 30-36%, with 94 originations.
Approval RatesTotal approvals of all applications
American Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
American Bank & Trust has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|
|Bank Name||Product||Issue||2022 CPFB Complaints||% of Total Issues|
|AMERIS BANCORP||Conventional home mortgage||Trouble during payment process||1||100.0%|