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)

    • Review & Overview

    Isabella Bank is a smaller bank specializing in Home Purchase and Refi loans. Isabella Bank has a high proportion of conventional loans. Isabella Bank has an average proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Mount Pleasant, Saginaw, Midland, Big Rapids, and Grand Rapids among others. We have data for 20 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

    896

    Origination Dollar Volume (All Markets)

    $169,960,000
    Show all (5) 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) 294 $42,880,000 $145,850 $2,369 4.82%
    SAGINAW, MI (FHA|USDA|VA) 58 $22,960,000 $395,862 $2,721 4.55%
    MIDLAND, MI (FHA|USDA|VA) 105 $22,815,000 $217,286 $2,831 4.78%
    Big Rapids, MI (FHA|USDA|VA) 111 $22,355,000 $201,396 $2,313 4.85%
    Outside of Metro Areas 138 $19,490,000 $141,232 $2,409 4.86%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 94 $13,700,000 $145,745 $2,152 4.60%
    MUSKEGON, MI (FHA|USDA|VA) 2 $9,600,000 $4,800,000 $2,628 4.25%
    Traverse City, MI (FHA|USDA|VA) 7 $4,625,000 $660,714 $3,861 4.90%
    Alma, MI (FHA|USDA|VA) 41 $3,775,000 $92,073 $2,242 5.20%
    BAY CITY, MI (FHA|USDA|VA) 21 $3,235,000 $154,048 $1,535 4.81%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 11 $2,405,000 $218,636 $2,497 4.68%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 5 $595,000 $119,000 $3,248 4.38%
    Houghton, MI (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    Holland, MI (FHA|USDA|VA) 2 $320,000 $160,000 $2,639 5.38%
    ANN ARBOR, MI (FHA|USDA|VA) 1 $215,000 $215,000 $0 6.00%
    Cadillac, MI (FHA|USDA|VA) 1 $185,000 $185,000 $2,489 3.25%
    MONROE, MI (FHA|USDA|VA) 1 $165,000 $165,000 $4,364 4.63%
    Sturgis, MI (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    JACKSON, MI (FHA|USDA|VA) 1 $75,000 $75,000 $2,357 3.25%
    Sault Ste. Marie, MI (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    Isabella Bank's top markets include Mount Pleasant, Saginaw, Midland, Big Rapids, and Grand Rapids among others.

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

    Commercial Bank
    Similarity Rank: 36
    Polish-American Federal Credit Union
    Similarity Rank: 57
    Wanigas Credit Union
    Similarity Rank: 77
    St James Mortgage Corporation
    Similarity Rank: 93
    Zeal Credit Union
    Similarity Rank: 108
    FIRST CHOICE MH LLC
    Similarity Rank: 132
    Wildfire Credit Union
    Similarity Rank: 204
    HEALTH ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 216
    UNITED FINANCIAL Credit Union
    Similarity Rank: 230
    1st State Financial, Ltd.
    Similarity Rank: 231

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 615 $140,605,000 $228,626 $2,420 4.79%
    Conventional 273 $28,395,000 $104,011 $0 0.00%
    USDA 8 $960,000 $120,000 $3,753 5.66%

    For 2022, Isabella Bank's most frequently originated type of loan was Conventional, with 615 originations. Their 2nd most popular type was Conventional, with 273 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 379 $103,895,000 $274,129 $3,009 5.00%
    Refi 209 $37,735,000 $180,550 $1,919 4.76%
    Home Improvement 164 $12,460,000 $75,976 $1,437 4.62%
    Other 92 $8,900,000 $96,739 $1,562 4.79%
    Cash Out Refi 52 $6,970,000 $134,038 $2,315 3.86%

    For 2022, Isabella Bank's most frequently cited loan purpose was Home Purchase, with 379 originations. The 2nd most popular reason was Refi, with 209 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 300 $63,280,000 $210,933 $2,377 4.80%
    30 Year 250 $47,930,000 $191,720 $2,712 4.95%
    20 Year 118 $21,770,000 $184,492 $2,207 4.98%
    15 Year 97 $14,885,000 $153,454 $2,161 4.22%
    10 Year 67 $4,395,000 $65,597 $1,006 5.01%
    30+ year 38 $15,130,000 $398,158 $4,392 4.56%
    5 Year 25 $2,525,000 $101,000 $953 4.38%
    1 Year 1 $45,000 $45,000 $0 6.50%

    For 2022, Isabella Bank's most frequently cited loan duration was Other, with 300 originations. The 2nd most popular length was 30 Year, with 250 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 418 $69,430,000 $166,100
    $1k-2k 61 $11,015,000 $180,574
    $2k-3k 11 $2,585,000 $235,000
    $3k-4k 5 $885,000 $177,000
    $5k+ 3 $845,000 $281,667

    Isabella Bank's average total fees were $2,712, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 418 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 174 $54,230,000 $311,667
    4-5% 165 $30,035,000 $182,030
    5-6% 156 $29,010,000 $185,962
    6-7% 84 $20,160,000 $240,000
    2.5-3% 27 $3,715,000 $137,593
    7-8% 14 $2,350,000 $167,857
    <2.5% 3 $2,065,000 $688,333

    During 2022, Isabella Bank's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 3-4%, with 174 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 398 $21,620,000 $54,322 $1,683 4.94%
    $100k-200k 281 $39,645,000 $141,085 $2,482 4.76%
    $200k-400k 152 $39,850,000 $262,171 $3,073 4.72%
    $400k-600k 40 $19,250,000 $481,250 $3,824 4.55%
    $1MM+ 13 $40,175,000 $3,090,385 $5,667 4.27%
    $600k-1MM 12 $9,420,000 $785,000 $5,240 5.01%

    2022 saw Isabella Bank place emphasis on $100,000 or less loans with 398 originations, totaling $21,620,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 170 $18,320,000 $107,765 $2,229 4.95%
    $100k-150k 141 $22,605,000 $160,319 $2,722 4.52%
    $50k or less 139 $10,945,000 $78,741 $2,135 4.73%
    $75k-100k 122 $17,070,000 $139,918 $2,668 4.54%
    $150k-250k 83 $18,735,000 $225,723 $2,969 4.68%
    $250k+ 47 $18,025,000 $383,511 $3,279 4.63%

    Isabella Bank lent most frequently to those with incomes in the $50k-75k range, with 170 originations. The second most popular income band? $100k-150k, with 141 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 273 $28,395,000 $104,011 $0 0.00%
    20-30% 121 $19,485,000 $161,033 $2,292 4.58%
    30-36% 110 $20,230,000 $183,909 $2,585 4.76%
    <20% 61 $12,225,000 $200,410 $2,588 4.36%
    36% 29 $5,785,000 $199,483 $2,840 4.97%
    39% 24 $3,370,000 $140,417 $2,220 5.17%
    38% 22 $3,740,000 $170,000 $2,438 5.01%
    37% 18 $3,280,000 $182,222 $2,509 4.60%
    40% 16 $2,380,000 $148,750 $2,424 5.02%
    45% 12 $2,090,000 $174,167 $2,735 4.36%
    42% 12 $1,200,000 $100,000 $1,839 4.64%
    44% 12 $1,890,000 $157,500 $2,720 4.38%
    46% 10 $1,980,000 $198,000 $2,454 4.95%
    41% 10 $2,340,000 $234,000 $3,043 4.75%
    43% 8 $1,180,000 $147,500 $2,620 4.53%
    47% 5 $765,000 $153,000 $2,943 4.43%
    48% 5 $1,495,000 $299,000 $2,836 4.68%
    49% 4 $640,000 $160,000 $2,530 5.06%
    50-60% 1 $135,000 $135,000 $524 3.13%

    Isabella Bank lent most frequently to those with DTI ratios of Exempt%, with 273 originations. The next most common DTI ratio? 20-30%, with 121 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 733 $107,915,000 $147,224 $2,447 4.76%
    Not applicable 96 $51,540,000 $536,875 $0 5.09%
    Not provided 44 $5,880,000 $133,636 $2,145 4.52%
    Asian 10 $2,410,000 $241,000 $3,020 5.02%
    American Indian 9 $1,365,000 $151,667 $2,236 4.66%
    Black 4 $850,000 $212,500 $3,208 5.00%

    Approval Rates

    Total approvals of all applications
    85.33%

    Isabella Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.83%

    Isabella Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 273 $28,395,000 $104,011
    NA 623 $141,565,000 $227,231

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    896 $169,960,000 $189,688

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 79 $8,755,000 $110,823 $1,712 4.86%
    40-60% 92 $15,230,000 $165,543 $2,242 4.43%
    60-80% 195 $62,265,000 $319,308 $2,722 4.73%
    80-100% 189 $51,655,000 $273,307 $3,059 4.96%
    Over 100% 1 $725,000 $725,000 $0 5.00%
    Under 20% 37 $1,315,000 $35,541 $960 4.65%