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, Saginaw, Grand Rapids, and Midland among others. We have data for 18 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% 4/21/24
    30 Year Conventional Refi 6.80% 4/21/24
    30 Year Cash-out Refi 6.55% 4/21/24
    30 Year USDA Purchase 7.51% 4/21/24
    15 Year Conventional Purchase 6.30% 4/21/24
    15 Year Conventional Refi 6.33% 4/21/24
    15 Year Cash-out Refi 6.33% 4/21/24
    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

    913

    Origination Dollar Volume (All Markets)

    $129,685,000

    Employee count

    358 Show all (8) 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) 317 $40,965,000 $129,227 $1,900 4.23%
    Big Rapids, MI (FHA|USDA|VA) 123 $19,255,000 $156,545 $2,212 4.09%
    SAGINAW, MI (FHA|USDA|VA) 98 $15,170,000 $154,796 $1,362 4.29%
    Outside of Metro Areas 110 $12,610,000 $114,636 $2,202 4.41%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 82 $12,410,000 $151,341 $2,357 4.23%
    MIDLAND, MI (FHA|USDA|VA) 81 $10,885,000 $134,383 $1,689 4.39%
    Alma, MI (FHA|USDA|VA) 53 $6,655,000 $125,566 $1,967 4.44%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 10 $6,330,000 $633,000 $3,389 3.90%
    Traverse City, MI (FHA|USDA|VA) 5 $1,335,000 $267,000 $2,509 4.43%
    BAY CITY, MI (FHA|USDA|VA) 15 $1,205,000 $80,333 $1,183 4.84%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 7 $975,000 $139,286 $2,882 4.09%
    FLINT, MI (FHA|USDA|VA) 4 $420,000 $105,000 $2,355 3.78%
    MUSKEGON, MI (FHA|USDA|VA) 2 $340,000 $170,000 $2,204 4.25%
    Holland, MI (FHA|USDA|VA) 2 $330,000 $165,000 $2,766 4.13%
    Ludington, MI (FHA|USDA|VA) 1 $325,000 $325,000 $2,388 3.50%
    Alpena, MI (FHA|USDA|VA) 1 $185,000 $185,000 $2,724 3.88%
    Marquette, MI (FHA|USDA|VA) 1 $175,000 $175,000 $2,367 4.00%
    Houghton, MI (FHA|USDA|VA) 1 $115,000 $115,000 $1,869 4.38%
    Isabella Bank's top markets include Mount Pleasant, Big Rapids, Saginaw, Grand Rapids, and Midland among others.

    Their top states include:
  • Michigan (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.

    HEALTH ADVANTAGE FEDERAL CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 891 $127,205,000 $142,767 $1,937 4.27%
    USDA 22 $2,480,000 $112,727 $3,326 4.31%

    For 2019, Isabella Bank's most frequently originated type of loan was Conventional, with 891 originations. Their 2nd most popular type was USDA, with 22 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 512 $77,980,000 $152,305 $1,991 4.23%
    Refi 255 $36,135,000 $141,706 $1,819 4.56%
    Cash Out Refi 94 $11,410,000 $121,383 $2,429 3.62%
    Home Improvement 26 $1,380,000 $53,077 $1,248 4.61%
    Other 26 $2,780,000 $106,923 $1,880 4.11%

    For 2019, Isabella Bank's most frequently cited loan purpose was Home Purchase, with 512 originations. The 2nd most popular reason was Refi, with 255 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 503 $70,115,000 $139,394 $2,066 4.14%
    15 Year 210 $26,820,000 $127,714 $1,977 3.94%
    20 Year 76 $20,930,000 $275,395 $2,326 4.81%
    10 Year 64 $4,760,000 $74,375 $1,013 5.14%
    Other 36 $5,370,000 $149,167 $1,784 5.10%
    5 Year 19 $935,000 $49,211 $783 4.43%
    30+ year 2 $270,000 $135,000 $3,083 3.94%
    3 Year 2 $430,000 $215,000 $0 6.38%
    1 Year 1 $55,000 $55,000 $0 5.25%

    For 2019, Isabella Bank's most frequently cited loan duration was 30 Year, with 503 originations. The 2nd most popular length was 15 Year, with 210 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 647 $81,755,000 $126,360
    $1k-2k 106 $17,400,000 $164,151
    $2k-3k 42 $6,840,000 $162,857
    $3k-4k 9 $1,805,000 $200,556
    $5k+ 3 $675,000 $225,000
    $4k-5k 1 $355,000 $355,000

    Isabella Bank's average total fees were $2,066, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 647 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 437 $66,675,000 $152,574
    4-5% 356 $41,610,000 $116,882
    5-6% 88 $17,540,000 $199,318
    6-7% 26 $3,030,000 $116,538
    2.5-3% 5 $785,000 $157,000
    7-8% 1 $45,000 $45,000

    During 2019, Isabella Bank's average interest rate for loans was 4.14%, while their most frequently originated rate bucket for loans was 3-4%, with 437 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 425 $26,905,000 $63,306 $1,502 4.38%
    $100k-200k 321 $44,575,000 $138,863 $2,230 4.15%
    $200k-400k 142 $36,320,000 $255,775 $2,672 4.13%
    $400k-600k 15 $6,985,000 $465,667 $2,090 4.28%
    $1MM+ 6 $11,780,000 $1,963,333 $5,882 5.17%
    $600k-1MM 4 $3,120,000 $780,000 $3,105 4.66%

    2019 saw Isabella Bank place emphasis on $100,000 or less loans with 425 originations, totaling $26,905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 241 $19,665,000 $81,598 $1,524 4.16%
    $50k-75k 189 $22,895,000 $121,138 $2,125 4.06%
    $100k-150k 123 $21,145,000 $171,911 $2,211 3.93%
    $75k-100k 107 $15,095,000 $141,075 $2,264 4.00%
    $150k-250k 60 $13,420,000 $223,667 $2,625 3.92%
    $250k+ 28 $11,620,000 $415,000 $2,597 3.84%

    Isabella Bank lent most frequently to those with incomes in the $50k or less range, with 241 originations. The second most popular income band? $50k-75k, with 189 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 229 $31,295,000 $136,659 $2,095 4.00%
    30-36% 167 $24,805,000 $148,533 $1,907 4.06%
    <20% 90 $10,730,000 $119,222 $2,071 3.91%
    39% 48 $6,200,000 $129,167 $1,720 4.15%
    36% 38 $3,670,000 $96,579 $1,305 4.11%
    38% 37 $4,625,000 $125,000 $1,617 4.23%
    37% 35 $4,215,000 $120,429 $1,693 3.97%
    41% 19 $3,075,000 $161,842 $2,360 3.88%
    40% 16 $2,140,000 $133,750 $2,027 4.09%
    42% 14 $2,310,000 $165,000 $2,888 4.11%
    43% 12 $2,180,000 $181,667 $2,385 3.98%
    45% 12 $1,880,000 $156,667 $3,331 3.94%
    44% 12 $2,090,000 $174,167 $2,609 4.05%
    48% 12 $2,660,000 $221,667 $2,555 4.16%
    49% 10 $1,910,000 $191,000 $1,930 4.25%
    46% 7 $905,000 $129,286 $2,081 3.95%
    >60% 6 $770,000 $128,333 $1,383 4.88%
    47% 6 $730,000 $121,667 $2,510 3.90%
    50-60% 4 $510,000 $127,500 $1,979 3.91%

    Isabella Bank lent most frequently to those with DTI ratios of 20-30%, with 229 originations. The next most common DTI ratio? 30-36%, with 167 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 808 $103,950,000 $128,651 $1,989 4.18%
    Not applicable 52 $14,220,000 $273,462 $0 5.82%
    Asian 6 $5,770,000 $961,667 $3,533 3.71%
    Not provided 18 $2,570,000 $142,778 $2,017 4.11%
    Black 24 $2,500,000 $104,167 $1,166 4.15%
    American Indian 4 $530,000 $132,500 $1,892 3.81%
    Native Hawaiian or Islander 1 $145,000 $145,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    88.01%

    Isabella Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.21%

    Isabella Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 913 $129,685,000 $142,043

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 24 $10,720,000 $446,667
    Single Family (1-4 Units):Manufactured 66 $5,040,000 $76,364
    Single Family (1-4 Units):Site-Built 823 $113,925,000 $138,426

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 66 $5,720,000 $86,667 $1,585 4.53%
    40-60% 115 $14,105,000 $122,652 $1,947 4.16%
    60-80% 275 $41,605,000 $151,291 $2,275 4.23%
    80-100% 385 $63,145,000 $164,013 $1,960 4.17%
    Over 100% 1 $275,000 $275,000 $5,189 4.25%
    Under 20% 28 $2,250,000 $80,357 $752 4.97%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    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 $6,932
    Isabella Bank 131 N State St Stanton, MI 48888 Full Service B&M $16,041
    Isabella Bank 1402 East Center Ithaca, MI 48847 Full Service B&M $45,194
    Isabella Bank 1402 West High Street Mount Pleasant, MI 48858 Full Service B&M $63,721
    Isabella Bank 1405 West Washington Street Greenville, MI 48838 Full Service B&M $81,796
    Isabella Bank 1416 East Pickard Street Mount Pleasant, MI 48858 Full Service B&M $112,606
    Isabella Bank 16490 Gratiot Road Hemlock, MI 48626 Full Service B&M $35,864
    Isabella Bank 1876 North Winn Road Weidman, MI 48893 Full Service B&M $20,892
    Isabella Bank 200 East Broadway Mount Pleasant, MI 48858 Full Service B&M $268,555
    Isabella Bank 200 S University Mount Pleasant, MI 48858 Limited, Drive-thru $0
    Isabella Bank 203 East Genesee Avenue Saginaw, MI 48607 Full Service B&M $1,065
    Isabella Bank 210 S Saginaw Street Midland, MI 48640 Full Service B&M $13,524
    Isabella Bank 2127 South Mission Street Mount Pleasant, MI 48858 Full Service B&M $86,774
    Isabella Bank 21440 Perry St Big Rapids, MI 49307 Full Service B&M $31,522
    Isabella Bank 220 West Wheatland Street Remus, MI 49340 Full Service B&M $29,614
    Isabella Bank 2222 N. Saginaw Road Midland, MI 48640 Full Service B&M $38,262
    Isabella Bank 240 East Northern Avenue Barryton, MI 49305 Full Service B&M $21,860
    Isabella Bank 313 West Bridge Street Six Lakes, MI 48886 Full Service B&M $33,321
    Isabella Bank 316 East Saginaw Street Breckenridge, MI 48615 Full Service B&M $67,312
    Isabella Bank 3388 North Woodruff Road Weidman, MI 48893 Full Service B&M $37,153
    Isabella Bank 399 South Main Street Freeland, MI 48623 Full Service B&M $18,621
    Isabella Bank 399 West Main Street Farwell, MI 48622 Full Service B&M $48,740
    Isabella Bank 401 East Main Street Blanchard, MI 49310 Full Service B&M $20,225
    Isabella Bank 4975 Bay Road Saginaw, MI 48604 Full Service B&M $37,618
    Isabella Bank 500 East Wright Avenue Shepherd, MI 48883 Full Service B&M $33,553
    Isabella Bank 532 Mcewan Clare, MI 48617 Full Service B&M $44,996
    Isabella Bank 711 Maple Street Big Rapids, MI 49307 Full Service B&M $2,762
    Isabella Bank 8225 West Ludington Drive Lake, MI 48632 Full Service B&M $6,334
    Isabella Bank 8351 100th Avenue Canadian Lakes, MI 49346 Full Service B&M $58,893

    For 2019, Isabella Bank had 30 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $67,419
    Net interest income $49,575
    Total noninterest income $11,993
    Gross Fiduciary activities income $2,269
    Service charges on deposit accounts $2,297
    Trading account gains and fees $0
    Additional Noninterest Income $7,427
    Pre-tax net operating income $19,599
    Securities gains (or losses, -) $6
    Income before extraordinary items $17,235
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $17,235
    Minority interest net income $0
    Net income $17,235
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $17,229

    Isabella Bank's gross interest income from loans was $67,419,000.
    Isabella Bank's net interest income from loans was $49,575,000.
    Isabella Bank's fee based income from loans was $2,297,000.
    Isabella Bank's net income from loans was $17,235,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $17,844
    Provision for credit losses $30
    Total noninterest expense $41,939
    Salaries and employee benefits $23,192
    Premises and equipment expense $8,188
    Additional noninterest expense $10,559
    Applicable income taxes $2,370
    Net charge-offs $466
    Cash dividends $7,800

    Isabella Bank's interest expense for loans was $17,844,000.
    Isabella Bank's payroll and benefits expense were $23,192,000.
    Isabella Bank's property, plant and equipment expenses $8,188,000.

    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 0.0%
    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 $1,315,557
    Deposits held in domestic offices $1,315,557
    Deposits by Individuals, partnerships, and corporations $1,120,385
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $149,874
    Deposits by Commercial banks and other depository institutions in U.S. $45,298
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $92,025
    Demand deposits $92,025
    Nontransaction accounts $1,223,532
    Money market deposit accounts (MMDAs) $247,594
    Other savings deposits (excluding MMDAs) $568,318
    Total time deposits $407,620
    Total time and savings deposits $1,223,532
    Noninterest-bearing deposits $250,098
    Interest-bearing deposits $1,065,459
    Retail deposits $1,192,288
    IRAs and Keogh plan accounts $55,092
    Brokered deposits $27,458
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,763,432
    Cash & Balances due from depository institutions $60,563
    Interest-bearing balances $40,260
    Total securities $429,839
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,179,535
    Loan and leases loss allowance $7,939
    Trading account assets $0
    Bank premises and fixed assets $24,137
    Other real estate owned $278
    Goodwill and other intangibles $7,098
    All other assets $61,982

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,763,432
    Total Liabilities $1,606,535
    Total deposits $1,315,557
    Interest-bearing deposits $1,065,459
    Deposits held in domestic offices $1,315,557
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $30,999
    Trading liabilities $0
    Other borrowed funds $245,000
    Subordinated debt $0
    All other liabilities $14,979

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,179,535
    Loan and leases loss allowance $7,939
    Total loans and leases (domestic) $1,187,474
    All real estate loans $889,561
    Real estate loans in domestic offices $889,561
    Construction and development loans $20,857
    Residential 1-4 family construction $7,699
    Other construction, all land development and other land $13,158
    Loans secured by nonfarm nonresidential properties $343,027
    Nonfarm nonresidential secured by owner-occupied properties $150,273
    Commercial real estate & other non-farm, non-residential $192,754
    Multifamily residential real estate $99,899
    1-4 family residential loans $345,572
    Farmland loans $80,206
    Loans held in foreign offices $0
    Farm loans $36,935
    Commercial and industrial loans $147,003
    To non-U.S. addressees $0
    Loans to individuals $70,062
    Credit card loans $0
    Related Plans $377
    Consumer Auto Loans $32,240
    Other loans to individuals $37,445
    All other loans & leases $43,913
    Loans to foreign governments and official institutions $0
    Other loans $43,524
    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 $20,847
    Non 1-4 family restructured loans & leases $14,410
    Total loans and leases (foreign) $0

    Isabella Bank had $1,179,535,000 of loans outstanding in 2019. $889,561,000 of loans were in real estate loans. $20,857,000 of loans were in development loans. $99,899,000 of loans were in multifamily mortgage loans. $345,572,000 of loans were in 1-4 family mortgage loans. $36,935,000 of loans were in farm loans. $0 of loans were in credit card loans. $32,240,000 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 631 $121,629 $192,756
    Nonfarm, nonresidential loans - <$100k 198 $8,896 $44,929
    Nonfarm, nonresidential loans - $100-250k 221 $27,954 $126,489
    Nonfarm, nonresidential loans - $250k-1MM 212 $84,779 $399,901
    Commercial & Industrial, US addressed loans - <$1MM 1,394 $102,209 $73,321
    Commercial & Industrial, US addressed loans - <$100k 1,001 $26,326 $26,300
    Commercial & Industrial, US addressed loans - $100-250k 248 $26,645 $107,440
    Commercial & Industrial, US addressed loans - $250k-1MM 145 $49,238 $339,572
    Farmland loans - <$1MM 332 $42,634 $128,416
    Farmland loans - <$100k 137 $6,567 $47,934
    Farmland loans - $100-250k 129 $17,226 $133,535
    Farmland loans - $250k-1MM 66 $18,841 $285,470
    Agriculture operations loans - <$1MM 373 $20,540 $55,067
    Agriculture operations loans - <$100k 282 $6,872 $24,369
    Agriculture operations loans - $100-250k 71 $7,785 $109,648
    Agriculture operations loans - $250k-1MM 20 $5,883 $294,150