Charter Bank Mortgage Rates, Fees & Info
Johnston, IALEI: 549300W7PVYUJHBKTH05
Tax ID: 42-1470586
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Mortgage Data
Review & Overview
Charter Bank is a smaller bank specializing in Home Purchase and Refi loans. Charter Bank has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ames, and Pella among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Charter 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.
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Originations
45Origination Dollar Volume (All Markets)
$6,785,000Top 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) | 41 | $5,925,000 | $144,512 | $0 | 0.00% |
| AMES, IA (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $0 | 0.00% |
| Pella, IA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
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.
Similarity Rank: 26
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Similarity Rank: 300
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Similarity Rank: 460
Similarity Rank: 486
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 45 | $6,785,000 | $150,778 | $0 | 0.00% |
For 2023, Charter Bank's most frequently originated type of loan was Conventional, with 45 originations.
Loan Reason
For 2023, Charter Bank's most frequently cited loan purpose was Other, with 18 originations. The 2nd most popular reason was Home Purchase, with 14 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 45 | $6,785,000 | $150,778 | $0 | 0.00% |
For 2023, Charter Bank's most frequently cited loan duration was Other, with 45 originations.
Loan Sizing
2023 saw Charter Bank place emphasis on $100,000 or less loans with 25 originations, totaling $1,305,000 in origination value.
Applicant Income
Charter Bank lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $150k-250k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 45 | $6,785,000 | $150,778 | $0 | 0.00% |
Charter Bank lent most frequently to those with DTI ratios of Exempt%, with 45 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.00%
Charter Bank has an average approval rate.
Pick Rate
Approvals leading to origination95.56%
Charter Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 45 | $6,785,000 | $150,778 |