American Bank & Trust Mortgage Rates, Fees & Info

Wessington Springs, SD

LEI: 549300T03X096VF60C57

Tax ID: 46-0108140

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    American 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.

    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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.29% 11/21/24
    30 Year Conventional Refi 6.18% 11/21/24
    30 Year Cash-out Refi 6.38% 11/21/24
    30 Year FHA Purchase 7.05% 11/21/24
    30 Year FHA Refi 6.27% 11/21/24
    30 Year VA Purchase 6.18% 11/21/24
    30 Year USDA Purchase 6.66% 11/21/24
    15 Year Conventional Purchase 5.93% 11/21/24
    15 Year Conventional Refi 6.16% 11/21/24
    15 Year Cash-out Refi 6.16% 11/21/24
    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 Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from American Bank & Trust. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    592

    Origination Dollar Volume (All Markets)

    $247,660,000
    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
    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%
    American Bank & Trust's top markets include Sioux Falls, Rapid City, Watertown, Aberdeen, and Pierre among others.

    Their top states include:
  • South Dakota (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)

    • Similar Lenders

    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.

    American State Bank
    Similarity Rank: 288
    The First National Bank in Sioux Falls
    Similarity Rank: 364
    SIOUX FALLS
    Similarity Rank: 378
    First National Bank
    Similarity Rank: 492
    IOWA BANKERS MORTGAGE CORPORATION
    Similarity Rank: 806
    CU MORTGAGE DIRECT, LLC
    Similarity Rank: 884
    BLACK HILLS FEDERAL CREDIT UNION
    Similarity Rank: 972
    Central Bank
    Similarity Rank: 1300
    Reliabank Dakota
    Similarity Rank: 1344
    Dacotah Bank
    Similarity Rank: 1632

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 533 $234,245,000 $439,484 $4,225 4.65%
    FHA 24 $5,160,000 $215,000 $6,742 5.19%
    USDA 23 $3,865,000 $168,043 $4,996 4.66%
    VA 12 $4,390,000 $365,833 $10,008 5.23%

    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.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 422 $186,670,000 $442,346 $4,954 4.84%
    Refi 104 $47,430,000 $456,058 $2,834 4.15%
    Cash Out Refi 41 $9,255,000 $225,732 $3,502 4.06%
    Other 15 $2,595,000 $173,000 $3,300 5.22%
    Home Improvement 10 $1,710,000 $171,000 $2,340 5.32%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 340 $92,850,000 $273,088 $4,759 4.78%
    5 Year 162 $66,170,000 $408,457 $2,523 4.55%
    15 Year 36 $7,820,000 $217,222 $3,996 4.04%
    Other 24 $39,370,000 $1,640,417 $3,257 4.92%
    10 Year 14 $33,890,000 $2,420,714 $2,794 4.28%
    20 Year 8 $2,170,000 $271,250 $4,569 5.33%
    1 Year 5 $3,215,000 $643,000 $0 5.31%
    30+ year 3 $2,175,000 $725,000 $12,373 5.38%

    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
    $<1k 121 $25,205,000 $208,306
    $2k-3k 85 $19,825,000 $233,235
    $1k-2k 83 $13,735,000 $165,482
    $3k-4k 56 $19,240,000 $343,571
    $5k+ 30 $17,820,000 $594,000
    $4k-5k 28 $12,000,000 $428,571

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 182 $102,940,000 $565,604
    3-4% 179 $88,585,000 $494,888
    5-6% 133 $33,355,000 $250,789
    6-7% 72 $16,350,000 $227,083
    2.5-3% 18 $3,080,000 $171,111
    7-8% 6 $2,810,000 $468,333
    <2.5% 2 $540,000 $270,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 214 $59,930,000 $280,047 $4,966 4.81%
    $100k-200k 152 $22,650,000 $149,013 $3,576 4.81%
    $100,000 or less 127 $7,975,000 $62,795 $2,422 4.43%
    $400k-600k 61 $29,075,000 $476,639 $5,949 4.48%
    $1MM+ 19 $114,195,000 $6,010,263 $15,810 4.65%
    $600k-1MM 19 $13,835,000 $728,158 $9,143 4.57%

    2022 saw American Bank & Trust place emphasis on $200k-400k loans with 214 originations, totaling $59,930,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 106 $19,670,000 $185,566 $4,151 4.83%
    $100k-150k 102 $28,270,000 $277,157 $4,684 4.70%
    $75k-100k 72 $17,060,000 $236,944 $4,632 4.79%
    $50k or less 60 $6,810,000 $113,500 $3,354 4.56%
    $150k-250k 52 $18,280,000 $351,538 $5,940 4.75%
    $250k+ 52 $22,910,000 $440,577 $6,493 4.85%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 97 $25,195,000 $259,742 $4,232 4.53%
    30-36% 94 $25,760,000 $274,043 $4,826 4.79%
    <20% 39 $6,055,000 $155,256 $3,392 4.72%
    39% 23 $5,695,000 $247,609 $4,452 4.80%
    41% 21 $4,675,000 $222,619 $4,180 4.90%
    37% 17 $4,815,000 $283,235 $4,561 4.36%
    42% 16 $4,880,000 $305,000 $5,087 4.98%
    44% 16 $3,580,000 $223,750 $4,118 4.71%
    38% 15 $4,285,000 $285,667 $5,913 4.72%
    50-60% 15 $3,625,000 $241,667 $7,239 4.87%
    40% 15 $3,525,000 $235,000 $4,420 5.05%
    45% 14 $4,940,000 $352,857 $5,470 4.89%
    43% 13 $3,625,000 $278,846 $4,427 5.13%
    36% 13 $3,355,000 $258,077 $4,258 4.85%
    49% 11 $2,815,000 $255,909 $5,113 4.58%
    >60% 10 $2,070,000 $207,000 $3,748 5.18%
    46% 9 $2,345,000 $260,556 $4,600 4.85%
    48% 8 $2,820,000 $352,500 $5,088 5.72%
    47% 7 $1,945,000 $277,857 $6,091 4.95%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 130 $127,620,000 $981,692 $0 4.44%
    White 408 $105,650,000 $258,946 $4,554 4.72%
    Not provided 33 $8,515,000 $258,030 $4,655 5.01%
    Asian 15 $3,705,000 $247,000 $4,918 4.80%
    Black 3 $1,505,000 $501,667 $8,406 4.92%
    American Indian 3 $665,000 $221,667 $3,666 5.25%

    Approval Rates

    Total approvals of all applications
    95.88%

    American Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    74.32%

    American Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 592 $247,660,000 $418,345

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    592 $247,660,000 $418,345

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $7,230,000 $164,318 $2,747 4.52%
    40-60% 77 $33,475,000 $434,740 $3,454 4.43%
    60-80% 216 $130,750,000 $605,324 $4,565 4.56%
    80-100% 231 $65,975,000 $285,606 $5,125 4.86%
    Over 100% 14 $9,660,000 $690,000 $10,640 5.01%
    Under 20% 10 $570,000 $57,000 $1,728 5.42%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    AMERIS BANCORP Conventional home mortgage Trouble during payment process 1 100.0%