Equity Bank Mortgage Rates, Fees & Info

Andover, KS

LEI: 549300TJF420N3F01V87

Tax ID: 48-0987182

5 stars - Updated: 6/9/24 - out of 5 stars, based on 34 reviews

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

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Mortgage Data

Review & Overview

Equity Bank is a smaller bank specializing in Home Purchase and Refi loans. Equity Bank 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: Kansas City, Cape Coral, Fayetteville, Wichita, and Harrison among others. We have data for 54 markets. (Some data included below & more in-depth data is available with an active subscription.)

Equity 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. Equity Bank 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 relatively high 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
Home Equity Line of Credit (HELOC) 6.27% 6/9/24
30 Year Conventional Purchase 6.59% 6/9/24
30 Year Conventional Refi 6.31% 6/9/24
30 Year Cash-out Refi 6.75% 6/9/24
30 Year FHA Purchase 7.09% 6/9/24
30 Year VA Purchase 6.27% 6/9/24
30 Year USDA Purchase 7.05% 6/9/24
15 Year Conventional Purchase 6.30% 6/9/24
15 Year Conventional Refi 6.15% 6/9/24
15 Year Cash-out Refi 6.15% 6/9/24
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.

Equity Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Equity Bank. 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

1,126

Origination Dollar Volume (All Markets)

$379,960,000
Show all (9) awards

Relative Rate

Equity Bank's average 30 year fixed mortgage rate was 6.57%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.09%.

Relative Fees (Closing Costs)

Equity Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,182.

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 $9,089.

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
KANSAS CITY, MO-KS (FHA|USDA|VA) 203 $154,365,000 $760,419 $5,687 7.24%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $47,035,000 $47,035,000 $0 8.25%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 31 $37,735,000 $1,217,258 $3,667 6.98%
Outside of Metro Areas 224 $29,470,000 $131,563 $3,655 6.73%
WICHITA, KS (FHA|USDA|VA) 81 $18,995,000 $234,506 $3,967 5.73%
Harrison, AR (FHA|USDA|VA) 101 $12,425,000 $123,020 $3,563 6.13%
TULSA, OK (FHA|USDA|VA) 54 $12,000,000 $222,222 $9,944 7.99%
Guymon, OK (FHA|USDA|VA) 95 $11,395,000 $119,947 $4,421 7.11%
OKLAHOMA CITY, OK (FHA|USDA|VA) 10 $5,430,000 $543,000 $6,504 6.42%
Ponca City, OK (FHA|USDA|VA) 60 $5,140,000 $85,667 $4,548 6.59%
TOPEKA, KS (FHA|USDA|VA) 35 $4,535,000 $129,571 $3,535 8.16%
Hays, KS (FHA|USDA|VA) 30 $4,200,000 $140,000 $3,549 6.45%
Emporia, KS (FHA|USDA|VA) 3 $3,245,000 $1,081,667 $3,420 8.50%
Warrensburg, MO (FHA|USDA|VA) 20 $2,870,000 $143,500 $0 5.80%
Pittsburg, KS (FHA|USDA|VA) 21 $2,815,000 $134,048 $3,398 6.94%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 19 $2,625,000 $138,158 $2,275 7.01%
SPRINGFIELD, MO (FHA|USDA|VA) 4 $2,430,000 $607,500 $2,190 7.37%
Liberal, KS (FHA|USDA|VA) 18 $1,900,000 $105,556 $4,062 7.17%
Coffeyville, KS (FHA|USDA|VA) 23 $1,775,000 $77,174 $3,200 6.34%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $1,610,000 $805,000 $0 8.13%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $1,555,000 $1,555,000 $0 7.06%
Sedalia, MO (FHA|USDA|VA) 17 $1,505,000 $88,529 $1,281 6.33%
BEND, OR (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $0 8.72%
Bartlesville, OK (FHA|USDA|VA) 9 $1,395,000 $155,000 $0 7.63%
Salina, KS (FHA|USDA|VA) 7 $1,335,000 $190,714 $2,166 4.71%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,305,000 $1,305,000 $20,686 6.25%
FORT COLLINS, CO (FHA|USDA|VA) 1 $1,035,000 $1,035,000 $14,913 7.25%
McAlester, OK (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $5,473 7.13%
Branson, MO (FHA|USDA|VA) 6 $970,000 $161,667 $4,355 7.94%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $710,000 $355,000 $0 8.46%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $695,000 $695,000 $0 7.12%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $585,000 $585,000 $5,955 6.63%
Garden City, KS (FHA|USDA|VA) 8 $540,000 $67,500 $2,971 4.29%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $425,000 $425,000 $2,649 6.99%
Hutchinson, KS (FHA|USDA|VA) 3 $335,000 $111,667 $2,278 6.58%
COLUMBIA, MO (FHA|USDA|VA) 3 $325,000 $108,333 $0 6.39%
Marshall, MO (FHA|USDA|VA) 4 $320,000 $80,000 $3,315 7.58%
ROCHESTER, MN (FHA|USDA|VA) 1 $285,000 $285,000 $5,567 6.63%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $255,000 $255,000 $0 10.11%
Woodward, OK (FHA|USDA|VA) 2 $240,000 $120,000 $3,155 6.43%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $235,000 $235,000 $1,930 6.13%
JOPLIN, MO (FHA|USDA|VA) 2 $210,000 $105,000 $2,780 7.62%
VISALIA, CA (FHA|USDA|VA) 1 $185,000 $185,000 $0 9.51%
Great Bend, KS (FHA|USDA|VA) 4 $140,000 $35,000 $0 5.31%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $135,000 $135,000 $2,585 7.13%
Weatherford, OK (FHA|USDA|VA) 1 $115,000 $115,000 $0 8.73%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $105,000 $105,000 $0 10.25%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 1.99%
HOT SPRINGS, AR (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.56%
Winfield, KS (FHA|USDA|VA) 3 $95,000 $31,667 $1,775 8.28%
PINE BLUFF, AR (FHA|USDA|VA) 1 $65,000 $65,000 $2,580 6.50%
Stillwater, OK (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.47%
Portales, NM (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.90%
Batesville, AR (FHA|USDA|VA) 1 $35,000 $35,000 $0 9.13%
Equity Bank's top markets include Kansas City, Cape Coral, Fayetteville, Wichita, and Harrison among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Similar Lenders

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

    PANHANDLE FEDERAL CREDIT UNION
    Similarity Rank: 6
    RCB Bank
    Similarity Rank: 54
    HOME BANK AND TRUST COMPANY
    Similarity Rank: 60
    CoreFirst Bank & Trust
    Similarity Rank: 90
    Bank of the Flint Hills
    Similarity Rank: 120
    Azura Credit Union
    Similarity Rank: 140
    Envista Credit Union
    Similarity Rank: 198
    GOLDEN PLAINS
    Similarity Rank: 208
    MAINSTREET FEDERAL CREDIT UNION
    Similarity Rank: 280
    Intrust Bank
    Similarity Rank: 315

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 631 $309,875,000 $491,086 $3,496 7.83%
    HELOC 453 $60,995,000 $134,647 n/a 5.46%
    FHA 30 $6,040,000 $201,333 $7,003 6.49%
    USDA 9 $1,405,000 $156,111 $4,560 6.08%
    VA 3 $1,645,000 $548,333 $19,342 6.46%

    For 2023, Equity Bank's most frequently originated type of loan was Conventional, with 631 originations. Their 2nd most popular type was HELOC, with 453 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 513 $267,615,000 $521,667 $4,497 7.52%
    Refi 277 $86,025,000 $310,560 $2,810 8.24%
    Home Improvement 223 $16,935,000 $75,942 $1,537 4.68%
    Other 89 $6,305,000 $70,843 $1,213 3.68%
    Cash Out Refi 24 $3,080,000 $128,333 $2,720 7.03%

    For 2023, Equity Bank's most frequently cited loan purpose was Home Purchase, with 513 originations. The 2nd most popular reason was Refi, with 277 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 318 $26,050,000 $81,918 $2,322 3.86%
    30 Year 251 $54,385,000 $216,673 $4,182 6.57%
    3 Year 220 $62,290,000 $283,136 $0 8.76%
    1 Year 170 $38,400,000 $225,882 $0 8.85%
    Other 71 $24,075,000 $339,085 $889 8.47%
    5 Year 70 $167,860,000 $2,398,000 $283 8.40%
    10 Year 15 $1,195,000 $79,667 $1,313 7.75%
    30+ year 8 $5,200,000 $650,000 $9,739 6.36%
    20 Year 3 $505,000 $168,333 $2,967 6.58%

    For 2023, Equity Bank's most frequently cited loan duration was 15 Year, with 318 originations. The 2nd most popular length was 30 Year, with 251 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 161 $27,185,000 $168,851
    $1k-2k 78 $13,480,000 $172,821
    $2k-3k 21 $5,515,000 $262,619
    $5k+ 13 $10,355,000 $796,538
    $3k-4k 11 $4,385,000 $398,636
    $4k-5k 4 $1,650,000 $412,500

    Equity Bank's average total fees were $4,182, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 161 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 521 $171,355,000 $328,896
    <2.5% 170 $13,480,000 $79,294
    6-7% 166 $89,630,000 $539,940
    7-8% 100 $73,750,000 $737,500
    4-5% 95 $6,865,000 $72,263
    5-6% 68 $23,370,000 $343,676
    3-4% 3 $785,000 $261,667
    % 3 $725,000 $241,667

    During 2023, Equity Bank's average interest rate for loans was 6.57%, while their most frequently originated rate bucket for loans was Over 8%, with 521 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 535 $27,195,000 $50,832 $2,036 6.34%
    $100k-200k 324 $46,560,000 $143,704 $3,529 7.22%
    $200k-400k 168 $45,570,000 $271,250 $4,769 7.08%
    $400k-600k 50 $23,720,000 $474,400 $5,523 7.48%
    $1MM+ 27 $220,825,000 $8,178,704 $18,823 7.61%
    $600k-1MM 22 $16,090,000 $731,364 $6,335 8.35%

    2023 saw Equity Bank place emphasis on $100,000 or less loans with 535 originations, totaling $27,195,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 187 $17,375,000 $92,914 $3,172 6.11%
    $50k or less 162 $11,860,000 $73,210 $2,912 6.04%
    $100k-150k 143 $20,675,000 $144,580 $4,434 6.42%
    $75k-100k 136 $15,710,000 $115,515 $4,109 5.91%
    $150k-250k 88 $17,660,000 $200,682 $4,569 5.59%
    $250k+ 81 $28,385,000 $350,432 $9,315 6.69%

    Equity Bank lent most frequently to those with incomes in the $50k-75k range, with 187 originations. The second most popular income band? $50k or less, with 162 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 109 $15,215,000 $139,587 $3,688 5.11%
    30-36% 107 $15,665,000 $146,402 $3,799 5.25%
    44% 68 $7,750,000 $113,971 $7,212 4.36%
    <20% 49 $7,395,000 $150,918 $3,959 4.92%
    40% 32 $4,310,000 $134,688 $3,436 4.94%
    37% 32 $4,210,000 $131,563 $4,626 5.14%
    42% 31 $5,965,000 $192,419 $4,236 5.75%
    39% 30 $5,210,000 $173,667 $4,124 4.67%
    36% 25 $4,325,000 $173,000 $3,203 5.34%
    41% 24 $3,000,000 $125,000 $2,780 5.75%
    43% 24 $1,780,000 $74,167 $3,024 4.31%
    38% 21 $2,745,000 $130,714 $3,561 5.51%
    45% 12 $2,290,000 $190,833 $4,309 6.46%
    46% 9 $1,705,000 $189,444 $4,288 6.04%
    47% 8 $1,550,000 $193,750 $5,674 6.29%
    49% 6 $2,210,000 $368,333 $7,136 6.46%
    48% 4 $1,000,000 $250,000 $3,394 6.41%
    50-60% 2 $420,000 $210,000 $9,729 4.25%

    Equity Bank lent most frequently to those with DTI ratios of 20-30%, with 109 originations. The next most common DTI ratio? 30-36%, with 107 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 295 $263,005,000 $891,542 $0 8.67%
    White 714 $98,240,000 $137,591 $4,030 6.21%
    Not provided 88 $12,340,000 $140,227 $3,913 5.72%
    American Indian 14 $3,250,000 $232,143 $5,932 6.88%
    Black 8 $1,320,000 $165,000 $3,045 6.21%
    Asian 4 $1,110,000 $277,500 $3,710 6.31%
    Other Asian 1 $365,000 $365,000 $2,319 5.88%
    Chinese 1 $185,000 $185,000 $0 8.31%
    Asian Indian 1 $145,000 $145,000 $0 1.99%

    Approval Rates

    Total approvals of all applications
    88.00%

    Equity Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.44%

    Equity Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    84.0 1 $85,000 $85,000
    NA 1,125 $379,875,000 $337,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,126 $379,960,000 $337,442

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 223 $25,615,000 $114,865 $2,042 6.18%
    40-60% 138 $75,070,000 $543,986 $3,508 7.50%
    60-80% 264 $201,040,000 $761,515 $4,555 7.63%
    80-100% 233 $50,975,000 $218,777 $4,171 7.12%
    Over 100% 6 $4,020,000 $670,000 $18,154 7.68%
    Under 20% 261 $23,135,000 $88,640 $1,085 5.90%