Lincoln Savings Bank Mortgage Rates, Fees & Info

Reinbeck, IA

LEI: 549300XY02VS45I5ZZ90

Tax ID: 42-0380690

5 stars - Updated: 7/14/24 - out of 5 stars, based on 27 reviews

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

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Mortgage Data

Review & Overview

Lincoln Savings Bank is a smaller bank specializing in Home Purchase loans. Lincoln Savings Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Des Moines, Waterloo, Ames, Cedar Rapids, and Marshalltown among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)

Lincoln Savings Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Lincoln Savings 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
30 Year Conventional Purchase 6.50% 7/14/24
30 Year Conventional Refi 6.45% 7/14/24
30 Year Cash-out Refi 6.60% 7/14/24
30 Year FHA Purchase 7.24% 7/14/24
30 Year FHA Refi 7.16% 7/14/24
30 Year VA Purchase 6.14% 7/14/24
30 Year VA Refi 5.81% 7/14/24
30 Year USDA Purchase 6.70% 7/14/24
15 Year Conventional Purchase 5.87% 7/14/24
15 Year Conventional Refi 5.85% 7/14/24
15 Year Cash-out Refi 5.85% 7/14/24
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.

Lincoln Savings Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Lincoln Savings 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

755

Origination Dollar Volume (All Markets)

$171,025,000
Show all (11) awards

Relative Rate

Lincoln Savings Bank's average 30 year fixed mortgage rate was 6.51%.

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

This yields a difference of 0.03%.

Relative Fees (Closing Costs)

Lincoln Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,291.

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
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 458 $116,580,000 $254,541 $4,359 6.44%
WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 106 $16,650,000 $157,075 $3,285 6.82%
Outside of Metro Areas 89 $14,035,000 $157,697 $3,510 6.91%
AMES, IA (FHA|USDA|VA) 27 $6,385,000 $236,481 $3,914 6.55%
CEDAR RAPIDS, IA (FHA|USDA|VA) 13 $2,185,000 $168,077 $4,210 6.67%
Marshalltown, IA (FHA|USDA|VA) 12 $2,010,000 $167,500 $3,388 6.97%
Pella, IA (FHA|USDA|VA) 10 $1,830,000 $183,000 $3,878 6.49%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $1,485,000 $495,000 $8,365 6.33%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $980,000 $490,000 $9,316 6.87%
Oskaloosa, IA (FHA|USDA|VA) 5 $735,000 $147,000 $3,854 6.25%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $600,000 $300,000 $10,826 6.19%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $595,000 $595,000 $0 6.63%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $545,000 $545,000 $3,681 5.75%
Carroll, IA (FHA|USDA|VA) 2 $470,000 $235,000 $2,714 5.94%
Mason City, IA (FHA|USDA|VA) 3 $465,000 $155,000 $2,439 8.80%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $435,000 $435,000 $10,978 6.25%
Spirit Lake, IA (FHA|USDA|VA) 1 $425,000 $425,000 $0 6.38%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $415,000 $415,000 $2,883 7.50%
Austin, MN (FHA|USDA|VA) 1 $415,000 $415,000 $17,083 6.63%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $405,000 $405,000 $3,910 6.38%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $395,000 $395,000 $8,279 7.28%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $365,000 $365,000 $3,553 6.63%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $305,000 $305,000 $2,561 7.00%
Cullman, AL (FHA|USDA|VA) 2 $290,000 $145,000 $3,183 6.38%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $285,000 $285,000 $7,558 6.50%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $285,000 $285,000 $8,906 6.63%
Spencer, IA (FHA|USDA|VA) 1 $255,000 $255,000 $2,379 7.63%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $225,000 $225,000 $4,955 7.50%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $205,000 $205,000 $2,451 6.88%
Aberdeen, SD (FHA|USDA|VA) 1 $195,000 $195,000 $2,936 5.63%
IOWA CITY, IA (FHA|USDA|VA) 1 $125,000 $125,000 $2,748 7.12%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $125,000 $125,000 $0 6.65%
Kirksville, MO (FHA|USDA|VA) 1 $115,000 $115,000 $0 7.50%
Ottumwa, IA (FHA|USDA|VA) 1 $105,000 $105,000 $2,659 6.25%
Searcy, AR (FHA|USDA|VA) 1 $105,000 $105,000 $2,764 6.25%
Lincoln Savings Bank's top markets include Des Moines, Waterloo, Ames, Cedar Rapids, and Marshalltown among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 588 $133,620,000 $227,245 $3,255 6.68%
    FHA 113 $24,065,000 $212,965 $7,065 6.30%
    VA 44 $11,730,000 $266,591 $6,941 6.08%
    USDA 10 $1,610,000 $161,000 $4,238 6.04%

    For 2023, Lincoln Savings Bank's most frequently originated type of loan was Conventional, with 588 originations. Their 2nd most popular type was FHA, with 113 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 681 $153,005,000 $224,677 $4,226 6.54%
    Refi 48 $14,550,000 $303,125 $3,208 6.94%
    Cash Out Refi 17 $2,535,000 $149,118 $3,629 6.79%
    Home Improvement 7 $525,000 $75,000 $385 7.29%
    Other 2 $410,000 $205,000 $1,875 8.00%

    For 2023, Lincoln Savings Bank's most frequently cited loan purpose was Home Purchase, with 681 originations. The 2nd most popular reason was Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 654 $152,200,000 $232,722 $4,291 6.51%
    10 Year 34 $3,550,000 $104,412 $580 7.49%
    5 Year 20 $6,750,000 $337,500 $0 6.89%
    15 Year 19 $4,565,000 $240,263 $2,586 5.98%
    Other 13 $2,415,000 $185,769 $354 7.23%
    20 Year 12 $1,070,000 $89,167 $1,024 7.19%
    1 Year 3 $475,000 $158,333 $0 7.38%

    For 2023, Lincoln Savings Bank's most frequently cited loan duration was 30 Year, with 654 originations. The 2nd most popular length was 10 Year, with 34 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 260 $55,600,000 $213,846
    $1k-2k 225 $42,045,000 $186,867
    $2k-3k 91 $22,415,000 $246,319
    $3k-4k 41 $13,985,000 $341,098
    $4k-5k 29 $9,855,000 $339,828
    $5k+ 24 $11,270,000 $469,583

    Lincoln Savings Bank's average total fees were $4,291, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 260 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 390 $90,920,000 $233,128
    5-6% 186 $42,630,000 $229,194
    7-8% 158 $34,620,000 $219,114
    Over 8% 18 $2,030,000 $112,778
    4-5% 3 $825,000 $275,000

    During 2023, Lincoln Savings Bank's average interest rate for loans was 6.51%, while their most frequently originated rate bucket for loans was 6-7%, with 390 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 317 $87,645,000 $276,483 $4,734 6.50%
    $100k-200k 273 $40,575,000 $148,626 $3,432 6.54%
    $100,000 or less 101 $6,795,000 $67,277 $2,118 6.96%
    $400k-600k 47 $21,645,000 $460,532 $6,688 6.53%
    $600k-1MM 16 $11,360,000 $710,000 $5,918 6.53%
    $1MM+ 1 $3,005,000 $3,005,000 $0 6.50%

    2023 saw Lincoln Savings Bank place emphasis on $200k-400k loans with 317 originations, totaling $87,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 191 $32,455,000 $169,921 $3,930 6.50%
    $100k-150k 158 $41,980,000 $265,696 $4,148 6.61%
    $75k-100k 130 $28,290,000 $217,615 $4,823 6.52%
    $50k or less 105 $12,315,000 $117,286 $3,090 6.41%
    $150k-250k 95 $33,235,000 $349,842 $4,896 6.68%
    $250k+ 27 $11,345,000 $420,185 $4,338 6.66%

    Lincoln Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 191 originations. The second most popular income band? $100k-150k, with 158 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 123 $26,925,000 $218,902 $3,399 6.42%
    30-36% 105 $22,965,000 $218,714 $3,698 6.52%
    44% 37 $9,975,000 $269,595 $4,194 6.72%
    38% 37 $9,145,000 $247,162 $4,046 6.53%
    40% 36 $7,820,000 $217,222 $3,488 6.53%
    45% 35 $7,605,000 $217,286 $4,513 6.58%
    49% 33 $7,885,000 $238,939 $5,062 6.45%
    43% 31 $7,505,000 $242,097 $5,109 6.62%
    47% 30 $7,250,000 $241,667 $5,310 6.42%
    41% 28 $6,430,000 $229,643 $4,192 6.53%
    42% 27 $5,415,000 $200,556 $4,095 6.76%
    37% 27 $5,765,000 $213,519 $3,905 6.44%
    36% 26 $5,910,000 $227,308 $4,208 6.61%
    46% 26 $5,950,000 $228,846 $4,089 6.69%
    <20% 25 $5,125,000 $205,000 $2,961 6.68%
    50-60% 23 $6,225,000 $270,652 $7,701 6.18%
    39% 21 $4,345,000 $206,905 $3,431 6.71%
    48% 19 $5,575,000 $293,421 $5,667 6.51%
    >60% 1 $155,000 $155,000 $0 7.00%

    Lincoln Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 123 originations. The next most common DTI ratio? 30-36%, with 105 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 585 $132,255,000 $226,077 $4,096 6.55%
    Not provided 45 $11,585,000 $257,444 $4,430 6.47%
    Not applicable 49 $11,405,000 $232,755 $0 7.02%
    Asian 41 $9,295,000 $226,707 $4,475 6.54%
    Black 30 $4,920,000 $164,000 $4,220 6.78%
    American Indian 5 $1,565,000 $313,000 $5,114 6.18%

    Approval Rates

    Total approvals of all applications
    98.13%

    Lincoln Savings 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
    62.78%

    Lincoln Savings Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 755 $171,025,000 $226,523

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    755 $171,025,000 $226,523

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 30 $4,770,000 $159,000 $2,564 6.50%
    40-60% 53 $11,125,000 $209,906 $3,438 6.47%
    60-80% 180 $41,510,000 $230,611 $3,814 6.70%
    80-100% 457 $108,735,000 $237,932 $4,388 6.49%
    Over 100% 8 $2,570,000 $321,250 $12,465 6.16%
    Under 20% 27 $2,315,000 $85,741 $1,224 7.61%