Charter Bank Mortgage Rates, Fees & Info

Johnston, IA

LEI: 549300W7PVYUJHBKTH05

Tax ID: 42-1470586

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

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

    Charter Bank is a smaller bank specializing in Other, Refi, and Home Purchase loans. Charter Bank has a high proportion of conventional loans. Their top (well, only) market is Des Moines.

    Charter 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.

    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

    34

    Origination Dollar Volume (All Markets)

    $7,620,000

    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
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 33 $7,225,000 $218,939 $0 0.00%
    Outside of Metro Areas 1 $395,000 $395,000 $0 0.00%
    Charter Bank's top markets include and Des Moines among others.

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

    • Similar Lenders

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

    Bank
    Similarity Rank: 42
    FINANCIAL PLUS Credit Union
    Similarity Rank: 72
    Bankers Trust Company
    Similarity Rank: 180
    GREATER IOWA CREDIT UNION
    Similarity Rank: 187
    Farmers State Bank
    Similarity Rank: 276
    Tradesmen Community Credit Union
    Similarity Rank: 360
    Luana Savings Bank
    Similarity Rank: 399
    Collins Community Credit Union
    Similarity Rank: 442
    Community Choice Credit Union
    Similarity Rank: 510
    Premier Credit Union
    Similarity Rank: 656

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 34 $7,620,000 $224,118 $0 0.00%

    For 2024, Charter Bank's most frequently originated type of loan was Conventional, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 13 $1,715,000 $131,923 $0 0.00%
    Refi 13 $4,025,000 $309,615 $0 0.00%
    Home Purchase 8 $1,880,000 $235,000 $0 0.00%

    For 2024, Charter Bank's most frequently cited loan purpose was Other, with 13 originations. The 2nd most popular reason was Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 34 $7,620,000 $224,118 $0 0.00%

    For 2024, Charter Bank's most frequently cited loan duration was Other, with 34 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 11 $3,005,000 $273,182 $0 0.00%
    $100k-200k 10 $1,530,000 $153,000 $0 0.00%
    $100,000 or less 9 $345,000 $38,333 $0 0.00%
    $400k-600k 2 $1,010,000 $505,000 $0 0.00%
    $600k-1MM 2 $1,730,000 $865,000 $0 0.00%

    2024 saw Charter Bank place emphasis on $200k-400k loans with 11 originations, totaling $3,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 6 $390,000 $65,000 $0 0.00%
    $150k-250k 6 $1,730,000 $288,333 $0 0.00%
    $250k+ 6 $1,640,000 $273,333 $0 0.00%
    $50k-75k 3 $1,225,000 $408,333 $0 0.00%
    $75k-100k 2 $330,000 $165,000 $0 0.00%
    $50k or less 1 $525,000 $525,000 $0 0.00%

    Charter Bank lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $150k-250k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 34 $7,620,000 $224,118 $0 0.00%

    Charter Bank lent most frequently to those with DTI ratios of Exempt%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 22 $5,760,000 $261,818 $0 0.00%
    Not applicable 10 $1,780,000 $178,000 $0 0.00%
    Not provided 1 $45,000 $45,000 $0 0.00%
    Black 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.36%

    Charter Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.24%

    Charter Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 34 $7,620,000 $224,118

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    34 $7,620,000 $224,118