Standing Stone Bank Mortgage Rates, Fees & Info

Lancaster, OH

LEI: 549300TKQ160XK8DFP13

Tax ID: 31-1232089

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Standing Stone Bank is a smaller bank specializing in Cash Out Refi, Refi, and Home Purchase loans. Standing Stone Bank has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Sidney, Athens, and Tiffin among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Standing Stone 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. Standing Stone 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 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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    Originations

    85

    Origination Dollar Volume (All Markets)

    $8,005,000

    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
    COLUMBUS, OH (FHA|USDA|VA) 81 $7,675,000 $94,753 $1,771 4.35%
    Sidney, OH (FHA|USDA|VA) 1 $215,000 $215,000 $0 2.49%
    Athens, OH (FHA|USDA|VA) 2 $80,000 $40,000 $1,319 3.77%
    Tiffin, OH (FHA|USDA|VA) 1 $35,000 $35,000 $0 2.49%
    Standing Stone Bank's top markets include Columbus, Sidney, Athens, and Tiffin among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 55 $5,905,000 $107,364 $1,753 5.30%
    HELOC 30 $2,100,000 $70,000 n/a 2.43%

    For 2018, Standing Stone Bank's most frequently originated type of loan was Conventional, with 55 originations. Their 2nd most popular type was HELOC, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 41 $3,825,000 $93,293 $1,446 4.81%
    Refi 20 $1,950,000 $97,500 $1,578 3.88%
    Home Purchase 13 $1,615,000 $124,231 $2,288 5.06%
    Home Improvement 9 $415,000 $46,111 $0 2.16%
    Other 2 $200,000 $100,000 $0 2.24%

    For 2018, Standing Stone Bank's most frequently cited loan purpose was Cash Out Refi, with 41 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 53 $4,465,000 $84,245 $0 3.95%
    15 Year 16 $1,170,000 $73,125 $1,565 4.71%
    10 Year 7 $995,000 $142,143 $2,114 4.85%
    Other 5 $705,000 $141,000 $1,582 5.13%
    5 Year 2 $430,000 $215,000 $0 4.88%
    30 Year 1 $125,000 $125,000 $2,383 4.95%
    30+ year 1 $115,000 $115,000 $0 5.50%

    For 2018, Standing Stone Bank's most frequently cited loan duration was 20 Year, with 53 originations. The 2nd most popular length was 15 Year, with 16 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 25 $2,505,000 $100,200

    Standing Stone Bank's average total fees were $2,383, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 25 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 31 $3,905,000 $125,968
    <2.5% 28 $1,670,000 $59,643
    4-5% 20 $1,510,000 $75,500
    6-7% 6 $920,000 $153,333

    During 2018, Standing Stone Bank's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 5-6%, with 31 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 60 $3,000,000 $50,000 $1,514 4.02%
    $100k-200k 17 $2,295,000 $135,000 $2,048 4.80%
    $200k-400k 6 $1,800,000 $300,000 $0 5.12%
    $400k-600k 2 $910,000 $455,000 $3,206 5.68%

    2018 saw Standing Stone Bank place emphasis on $100,000 or less loans with 60 originations, totaling $3,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 16 $850,000 $53,125 $1,576 4.08%
    $50k-75k 13 $1,185,000 $91,154 $1,756 3.75%
    $100k-150k 12 $790,000 $65,833 $1,750 3.24%
    $150k-250k 6 $900,000 $150,000 $2,714 3.11%
    $250k+ 4 $230,000 $57,500 $0 5.45%
    $75k-100k 4 $380,000 $95,000 $0 2.37%

    Standing Stone Bank lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $50k-75k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 13 $695,000 $53,462 $1,618 4.22%
    30-36% 6 $460,000 $76,667 $1,635 4.12%
    <20% 5 $225,000 $45,000 $1,484 3.39%
    43% 4 $490,000 $122,500 $1,714 3.53%
    41% 2 $250,000 $125,000 $1,643 4.87%
    42% 2 $140,000 $70,000 $1,681 3.99%
    38% 2 $240,000 $120,000 $2,117 4.78%
    36% 1 $75,000 $75,000 $0 2.49%
    40% 1 $35,000 $35,000 $0 2.49%
    39% 1 $35,000 $35,000 $0 2.49%
    37% 1 $65,000 $65,000 $0 2.49%

    Standing Stone Bank lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? 30-36%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 60 $4,580,000 $76,333 $1,760 3.80%
    Not applicable 24 $3,340,000 $139,167 $0 5.52%
    Black 1 $85,000 $85,000 $1,584 4.28%

    Approval Rates

    Total approvals of all applications
    93.81%

    Standing Stone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.12%

    Standing Stone Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 85 $8,005,000 $94,176

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $925,000 $308,333
    Single Family (1-4 Units):Manufactured 4 $250,000 $62,500
    Single Family (1-4 Units):Site-Built 78 $6,830,000 $87,564

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $490,000 $61,250 $1,319 2.62%
    40-60% 15 $1,245,000 $83,000 $1,598 4.60%
    60-80% 32 $3,630,000 $113,438 $1,913 5.07%
    80-100% 11 $785,000 $71,364 $1,692 4.86%
    Over 100% 4 $1,180,000 $295,000 $0 4.93%
    Under 20% 14 $560,000 $40,000 $1,342 2.46%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    STANDARD MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 2 66.7%
    STANDARD MORTGAGE CORPORATION VA mortgage Trouble during payment process 1 33.3%