Charter Bank Mortgage Rates, Fees & Info

Johnston, IA

LEI: 549300W7PVYUJHBKTH05

Tax ID: 42-1470586

Latest/2023 | 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 Refi and Home Purchase loans. Charter Bank has a high proportion of conventional loans. Their top two markets are Des Moines and Ames .

    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.

    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.

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    Originations

    57

    Origination Dollar Volume (All Markets)

    $8,805,000

    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) 55 $8,375,000 $152,273 $0 0.00%
    Outside of Metro Areas 1 $305,000 $305,000 $0 0.00%
    AMES, IA (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    Charter Bank's top markets include Des Moines and Ames among others.

    Their top states include:
  • Iowa (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.

    FINANCIAL PLUS Credit Union
    Similarity Rank: 63
    Raccoon Valley Bank
    Similarity Rank: 145
    Luana Savings Bank
    Similarity Rank: 253
    Community Choice Credit Union
    Similarity Rank: 255
    Peoples Bank
    Similarity Rank: 380
    Fidelity Bank
    Similarity Rank: 388
    Premier Credit Union
    Similarity Rank: 469
    GREATER IOWA CREDIT UNION
    Similarity Rank: 480
    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 640
    Farmers State Bank
    Similarity Rank: 1008

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 57 $8,805,000 $154,474 $0 0.00%

    For 2019, Charter Bank's most frequently originated type of loan was Conventional, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 19 $4,755,000 $250,263 $0 0.00%
    Home Purchase 18 $3,200,000 $177,778 $0 0.00%
    Home Improvement 11 $355,000 $32,273 $0 0.00%
    Other 9 $495,000 $55,000 $0 0.00%

    For 2019, Charter Bank's most frequently cited loan purpose was Refi, with 19 originations. The 2nd most popular reason was Home Purchase, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 57 $8,805,000 $154,474 $0 0.00%

    For 2019, Charter Bank's most frequently cited loan duration was Other, with 57 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 31 $1,495,000 $48,226 $0 0.00%
    $100k-200k 11 $1,615,000 $146,818 $0 0.00%
    $200k-400k 10 $2,880,000 $288,000 $0 0.00%
    $400k-600k 3 $1,405,000 $468,333 $0 0.00%
    $600k-1MM 2 $1,410,000 $705,000 $0 0.00%

    2019 saw Charter Bank place emphasis on $100,000 or less loans with 31 originations, totaling $1,495,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 14 $1,080,000 $77,143 $0 0.00%
    $250k+ 8 $2,410,000 $301,250 $0 0.00%
    $75k-100k 7 $515,000 $73,571 $0 0.00%
    $150k-250k 6 $1,180,000 $196,667 $0 0.00%
    $50k or less 5 $295,000 $59,000 $0 0.00%
    $50k-75k 4 $530,000 $132,500 $0 0.00%

    Charter Bank lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $250k+, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 57 $8,805,000 $154,474 $0 0.00%

    Charter Bank lent most frequently to those with DTI ratios of Exempt%, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 44 $6,020,000 $136,818 $0 0.00%
    Not applicable 12 $2,760,000 $230,000 $0 0.00%
    Not provided 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.31%

    Charter Bank 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
    92.98%

    Charter Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 57 $8,805,000 $154,474

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $1,305,000 $261,000
    Single Family (1-4 Units):Site-Built 52 $7,500,000 $144,231