Isabella Bank Mortgage Rates, Fees & Info

Mount Pleasant, MI

LEI: 549300XYX207IABFXL60

Tax ID: 38-0681630

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Isabella Bank is a smaller bank specializing in Home Purchase and Refi loans. Isabella Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Mount Pleasant, Big Rapids, Grand Rapids, Bay City, and Saginaw among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Isabella 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. Isabella 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.91% 12/16/24
    30 Year Conventional Refi 6.80% 12/16/24
    30 Year Cash-out Refi 6.55% 12/16/24
    30 Year USDA Purchase 7.51% 12/16/24
    15 Year Conventional Purchase 6.30% 12/16/24
    15 Year Conventional Refi 6.33% 12/16/24
    15 Year Cash-out Refi 6.33% 12/16/24
    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.

    Isabella Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Isabella 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

    915

    Origination Dollar Volume (All Markets)

    $134,105,000

    Employee count

    332 Show all (12) awards

    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
    Mount Pleasant, MI (FHA|USDA|VA) 330 $46,590,000 $141,182 $1,850 4.55%
    Big Rapids, MI (FHA|USDA|VA) 123 $21,475,000 $174,593 $2,064 4.59%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 107 $14,525,000 $135,748 $1,937 4.59%
    BAY CITY, MI (FHA|USDA|VA) 13 $11,685,000 $898,846 $1,707 4.78%
    Outside of Metro Areas 123 $10,635,000 $86,463 $1,822 4.41%
    SAGINAW, MI (FHA|USDA|VA) 71 $9,145,000 $128,803 $1,372 4.57%
    MIDLAND, MI (FHA|USDA|VA) 66 $8,500,000 $128,788 $1,497 4.70%
    Alma, MI (FHA|USDA|VA) 54 $4,410,000 $81,667 $2,055 4.82%
    ANN ARBOR, MI (FHA|USDA|VA) 3 $1,715,000 $571,667 $0 6.00%
    Traverse City, MI (FHA|USDA|VA) 8 $1,680,000 $210,000 $1,991 4.60%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 6 $900,000 $150,000 $3,027 4.56%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 3 $845,000 $281,667 $1,802 4.13%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $705,000 $705,000 $4,286 3.75%
    Ludington, MI (FHA|USDA|VA) 2 $530,000 $265,000 $2,497 4.81%
    Houghton, MI (FHA|USDA|VA) 1 $455,000 $455,000 $0 5.25%
    Alpena, MI (FHA|USDA|VA) 1 $115,000 $115,000 $1,953 4.88%
    MUSKEGON, MI (FHA|USDA|VA) 1 $85,000 $85,000 $1,918 4.13%
    Marquette, MI (FHA|USDA|VA) 1 $65,000 $65,000 $2,017 4.00%
    Cadillac, MI (FHA|USDA|VA) 1 $45,000 $45,000 $1,195 4.50%
    Isabella Bank's top markets include Mount Pleasant, Big Rapids, Grand Rapids, Bay City, and Saginaw among others.

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

    • Similar Lenders

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

    Polish-American Federal Credit Union
    Similarity Rank: 32
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    Similarity Rank: 95
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    Similarity Rank: 110
    St James Mortgage Corporation
    Similarity Rank: 120
    HEALTH ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 128
    Macatawa Bank
    Similarity Rank: 195
    TEAM ONE CREDIT UNION
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    Similarity Rank: 276
    CASE
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    Similarity Rank: 328

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 884 $131,120,000 $148,326 $1,796 4.57%
    USDA 31 $2,985,000 $96,290 $3,096 4.77%

    For 2018, Isabella Bank's most frequently originated type of loan was Conventional, with 884 originations. Their 2nd most popular type was USDA, with 31 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 432 $67,300,000 $155,787 $1,965 4.64%
    Refi 334 $49,850,000 $149,251 $1,764 4.60%
    Cash Out Refi 60 $6,110,000 $101,833 $2,213 4.25%
    Home Improvement 49 $8,155,000 $166,429 $1,229 4.44%
    Other 40 $2,690,000 $67,250 $1,392 4.33%

    For 2018, Isabella Bank's most frequently cited loan purpose was Home Purchase, with 432 originations. The 2nd most popular reason was Refi, with 334 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 407 $51,235,000 $125,885 $2,061 4.56%
    15 Year 123 $12,935,000 $105,163 $1,924 4.36%
    20 Year 117 $24,005,000 $205,171 $1,746 4.57%
    Other 94 $20,980,000 $223,191 $1,739 4.49%
    5 Year 84 $11,540,000 $137,381 $1,103 4.90%
    10 Year 83 $11,295,000 $136,084 $1,066 4.65%
    3 Year 4 $1,780,000 $445,000 $0 5.75%
    1 Year 2 $240,000 $120,000 $0 6.25%
    30+ year 1 $95,000 $95,000 $1,864 3.75%

    For 2018, Isabella Bank's most frequently cited loan duration was 30 Year, with 407 originations. The 2nd most popular length was 15 Year, with 123 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 783 $86,425,000 $110,377
    $2k-3k 4 $1,010,000 $252,500
    $1k-2k 2 $250,000 $125,000

    Isabella Bank's average total fees were $2,061, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 783 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 603 $95,325,000 $158,085
    3-4% 168 $18,250,000 $108,631
    5-6% 123 $18,905,000 $153,699
    6-7% 21 $1,625,000 $77,381

    During 2018, Isabella Bank's average interest rate for loans was 4.56%, while their most frequently originated rate bucket for loans was 4-5%, with 603 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 503 $30,145,000 $59,930 $1,521 4.56%
    $100k-200k 298 $41,540,000 $139,396 $2,207 4.60%
    $200k-400k 89 $23,155,000 $260,169 $2,343 4.51%
    $400k-600k 12 $5,410,000 $450,833 $2,680 4.75%
    $1MM+ 8 $30,420,000 $3,802,500 $3,481 4.67%
    $600k-1MM 5 $3,435,000 $687,000 $4,286 5.25%

    2018 saw Isabella Bank place emphasis on $100,000 or less loans with 503 originations, totaling $30,145,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 239 $17,675,000 $73,954 $1,721 4.48%
    $50k-75k 157 $17,335,000 $110,414 $2,038 4.47%
    $75k-100k 113 $14,945,000 $132,257 $1,884 4.38%
    $100k-150k 83 $12,145,000 $146,325 $2,070 4.47%
    $150k-250k 38 $7,600,000 $200,000 $2,266 4.33%
    $250k+ 25 $6,685,000 $267,400 $2,282 4.36%

    Isabella Bank lent most frequently to those with incomes in the $50k or less range, with 239 originations. The second most popular income band? $50k-75k, with 157 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 227 $24,815,000 $109,317 $1,731 4.45%
    30-36% 142 $16,190,000 $114,014 $1,944 4.51%
    <20% 72 $9,280,000 $128,889 $1,971 4.35%
    36% 36 $3,760,000 $104,444 $1,762 4.34%
    38% 26 $3,110,000 $119,615 $2,011 4.46%
    39% 23 $2,625,000 $114,130 $1,609 4.34%
    41% 23 $2,295,000 $99,783 $1,510 4.52%
    40% 20 $2,190,000 $109,500 $2,348 4.45%
    37% 19 $2,115,000 $111,316 $2,204 4.42%
    44% 18 $2,520,000 $140,000 $2,193 4.38%
    42% 15 $1,495,000 $99,667 $2,427 4.45%
    43% 15 $2,645,000 $176,333 $2,348 4.51%
    46% 9 $1,185,000 $131,667 $1,858 4.32%
    47% 9 $1,105,000 $122,778 $2,227 4.56%
    45% 8 $690,000 $86,250 $2,065 4.56%
    49% 8 $1,290,000 $161,250 $2,113 4.61%
    50-60% 7 $825,000 $117,857 $1,424 4.55%
    48% 5 $975,000 $195,000 $1,868 4.40%
    >60% 4 $360,000 $90,000 $1,763 4.44%

    Isabella Bank lent most frequently to those with DTI ratios of 20-30%, with 227 originations. The next most common DTI ratio? 30-36%, with 142 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 798 $91,790,000 $115,025 $1,848 4.52%
    Not applicable 65 $36,895,000 $567,615 $0 5.39%
    Not provided 19 $2,455,000 $129,211 $2,331 4.59%
    American Indian 17 $1,635,000 $96,176 $1,733 4.37%
    Black 11 $775,000 $70,455 $1,032 4.48%
    Asian 5 $555,000 $111,000 $2,187 4.28%

    Approval Rates

    Total approvals of all applications
    86.23%

    Isabella Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.98%

    Isabella Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 915 $134,105,000 $146,563

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $2,285,000 $2,285,000
    Multifamily:Site-Built 33 $34,025,000 $1,031,061
    Single Family (1-4 Units):Manufactured 87 $5,545,000 $63,736
    Single Family (1-4 Units):Site-Built 794 $92,250,000 $116,184

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 72 $7,760,000 $107,778 $1,531 4.63%
    40-60% 104 $22,590,000 $217,212 $1,776 4.61%
    60-80% 277 $44,555,000 $160,848 $2,094 4.65%
    80-100% 298 $46,680,000 $156,644 $1,991 4.57%
    Under 20% 47 $3,365,000 $71,596 $724 4.38%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Isabella Bank 316 East Saginaw Street Breckenridge, MI 48615 Full Service B&M $64,870
    Isabella Bank 1125 North Mcewan Street Clare, MI 48617 Limited, Drive-thru $0
    Isabella Bank 125 N. Coldwater Rd Lake Isabella, MI 48893 Full Service B&M $6,656
    Isabella Bank 131 N State St Stanton, MI 48888 Full Service B&M $15,484
    Isabella Bank 1402 East Center Ithaca, MI 48847 Full Service B&M $42,811
    Isabella Bank 1402 West High Street Mount Pleasant, MI 48858 Full Service B&M $62,410
    Isabella Bank 1405 West Washington Street Greenville, MI 48838 Full Service B&M $81,269
    Isabella Bank 1416 East Pickard Street Mount Pleasant, MI 48858 Full Service B&M $112,064
    Isabella Bank 16490 Gratiot Road Hemlock, MI 48626 Full Service B&M $33,354
    Isabella Bank 1876 North Winn Road Weidman, MI 48893 Full Service B&M $20,240
    Isabella Bank 200 East Broadway Mount Pleasant, MI 48858 Full Service B&M $294,779
    Isabella Bank 200 S University Mount Pleasant, MI 48858 Limited, Drive-thru $0
    Isabella Bank 210 S Saginaw Street Midland, MI 48640 Full Service B&M $11,438
    Isabella Bank 2127 South Mission Street Mount Pleasant, MI 48858 Full Service B&M $85,598
    Isabella Bank 21440 Perry St Big Rapids, MI 49307 Full Service B&M $26,663
    Isabella Bank 220 West Wheatland Street Remus, MI 49340 Full Service B&M $27,818
    Isabella Bank 2222 N. Saginaw Road Midland, MI 48640 Full Service B&M $34,208
    Isabella Bank 240 East Northern Avenue Barryton, MI 49305 Full Service B&M $21,914
    Isabella Bank 313 West Bridge Street Six Lakes, MI 48886 Full Service B&M $30,376
    Isabella Bank 3388 North Woodruff Road Weidman, MI 48893 Full Service B&M $37,255
    Isabella Bank 399 South Main Street Freeland, MI 48623 Full Service B&M $13,968
    Isabella Bank 399 West Main Street Farwell, MI 48622 Full Service B&M $48,869
    Isabella Bank 401 East Main Street Blanchard, MI 49310 Full Service B&M $20,184
    Isabella Bank 4975 Bay Road Saginaw, MI 48604 Full Service B&M $42,637
    Isabella Bank 500 East Wright Avenue Shepherd, MI 48883 Full Service B&M $32,728
    Isabella Bank 532 Mcewan Clare, MI 48617 Full Service B&M $42,956
    Isabella Bank 711 Maple Street Big Rapids, MI 49307 Full Service B&M $2,590
    Isabella Bank 8225 West Ludington Drive Lake, MI 48632 Full Service B&M $6,118
    Isabella Bank 8351 100th Avenue Canadian Lakes, MI 49346 Full Service B&M $58,934

    For 2018, Isabella Bank had 29 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $63,968
    Net interest income $48,367
    Total noninterest income $10,689
    Gross Fiduciary activities income $2,134
    Service charges on deposit accounts $2,252
    Trading account gains and fees $0
    Additional Noninterest Income $6,303
    Pre-tax net operating income $19,010
    Securities gains (or losses, -) $-40
    Income before extraordinary items $16,860
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $16,860
    Minority interest net income $0
    Net income $16,860
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $16,895

    Isabella Bank's gross interest income from loans was $63,968,000.
    Isabella Bank's net interest income from loans was $48,367,000.
    Isabella Bank's fee based income from loans was $2,252,000.
    Isabella Bank's net income from loans was $16,860,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $15,601
    Provision for credit losses $978
    Total noninterest expense $39,068
    Salaries and employee benefits $18,917
    Premises and equipment expense $7,888
    Additional noninterest expense $12,263
    Applicable income taxes $2,110
    Net charge-offs $303
    Cash dividends $13,100

    Isabella Bank's interest expense for loans was $15,601,000.
    Isabella Bank's payroll and benefits expense were $18,917,000.
    Isabella Bank's property, plant and equipment expenses $7,888,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,295,637
    Deposits held in domestic offices $1,295,637
    Deposits by Individuals, partnerships, and corporations $1,078,640
    Deposits by U.S. Government $7
    Deposits by States and political subdivisions in the U.S. $138,585
    Deposits by Commercial banks and other depository institutions in U.S. $78,404
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $86,150
    Demand deposits $53,704
    Nontransaction accounts $1,209,486
    Money market deposit accounts (MMDAs) $205,304
    Other savings deposits (excluding MMDAs) $570,562
    Total time deposits $433,620
    Total time and savings deposits $1,241,932
    Noninterest-bearing deposits $238,976
    Interest-bearing deposits $1,056,661
    Retail deposits $1,157,561
    IRAs and Keogh plan accounts $56,183
    Brokered deposits $62,148
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,784,227
    Cash & Balances due from depository institutions $73,464
    Interest-bearing balances $49,937
    Total securities $494,833
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,120,690
    Loan and leases loss allowance $8,375
    Trading account assets $0
    Bank premises and fixed assets $25,585
    Other real estate owned $262
    Goodwill and other intangibles $7,351
    All other assets $62,042

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,784,227
    Total Liabilities $1,640,826
    Total deposits $1,295,637
    Interest-bearing deposits $1,056,661
    Deposits held in domestic offices $1,295,637
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $40,299
    Trading liabilities $0
    Other borrowed funds $300,000
    Subordinated debt $0
    All other liabilities $4,890

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,120,690
    Loan and leases loss allowance $8,375
    Total loans and leases (domestic) $1,129,065
    All real estate loans $860,861
    Real estate loans in domestic offices $860,861
    Construction and development loans $20,400
    Residential 1-4 family construction $5,703
    Other construction, all land development and other land $14,697
    Loans secured by nonfarm nonresidential properties $329,841
    Nonfarm nonresidential secured by owner-occupied properties $139,992
    Commercial real estate & other non-farm, non-residential $189,849
    Multifamily residential real estate $100,447
    1-4 family residential loans $322,607
    Farmland loans $87,566
    Loans held in foreign offices $0
    Farm loans $39,789
    Commercial and industrial loans $140,992
    To non-U.S. addressees $0
    Loans to individuals $66,593
    Credit card loans $0
    Related Plans $506
    Consumer Auto Loans $33,747
    Other loans to individuals $32,340
    All other loans & leases $20,830
    Loans to foreign governments and official institutions $0
    Other loans $20,340
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $21,793
    Non 1-4 family restructured loans & leases $13,860
    Total loans and leases (foreign) $0

    Isabella Bank had $1,120,690,000 of loans outstanding in 2018. $860,861,000 of loans were in real estate loans. $20,400,000 of loans were in development loans. $100,447,000 of loans were in multifamily mortgage loans. $322,607,000 of loans were in 1-4 family mortgage loans. $39,789,000 of loans were in farm loans. $0 of loans were in credit card loans. $33,747,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 632 $120,301 $190,350
    Nonfarm, nonresidential loans - <$100k 201 $9,093 $45,239
    Nonfarm, nonresidential loans - $100-250k 223 $28,521 $127,897
    Nonfarm, nonresidential loans - $250k-1MM 208 $82,687 $397,534
    Commercial & Industrial, US addressed loans - <$1MM 1,350 $97,758 $72,413
    Commercial & Industrial, US addressed loans - <$100k 997 $26,453 $26,533
    Commercial & Industrial, US addressed loans - $100-250k 217 $23,076 $106,341
    Commercial & Industrial, US addressed loans - $250k-1MM 136 $48,229 $354,625
    Farmland loans - <$1MM 352 $45,881 $130,344
    Farmland loans - <$100k 144 $7,022 $48,764
    Farmland loans - $100-250k 139 $18,076 $130,043
    Farmland loans - $250k-1MM 69 $20,783 $301,203
    Agriculture operations loans - <$1MM 408 $24,716 $60,578
    Agriculture operations loans - <$100k 297 $7,497 $25,242
    Agriculture operations loans - $100-250k 82 $8,961 $109,280
    Agriculture operations loans - $250k-1MM 29 $8,258 $284,759