Fairfax State Savings Bank Mortgage Rates, Fees & Info
Fairfax, IALEI: 549300Y4I3OP11OGQV16
Tax ID: 42-0239930
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Fairfax State Savings Bank is a smaller bank specializing in Home Purchase loans. Fairfax State Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Cedar Rapids, Hannibal, Iowa City, and Muscatine among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Fairfax State Savings 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.
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Originations
20Origination Dollar Volume (All Markets)
$3,200,000Top 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 |
|---|---|---|---|---|---|
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 13 | $1,705,000 | $131,154 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $770,000 | $385,000 | $0 | 0.00% |
| Hannibal, MO (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $0 | 0.00% |
| Muscatine, IA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 20 | $3,200,000 | $160,000 | $0 | 0.00% |
For 2024, Fairfax State Savings Bank's most frequently originated type of loan was Conventional, with 20 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 13 | $2,675,000 | $205,769 | $0 | 0.00% |
| Refi | 4 | $250,000 | $62,500 | $0 | 0.00% |
| Home Improvement | 3 | $275,000 | $91,667 | $0 | 0.00% |
For 2024, Fairfax State Savings Bank's most frequently cited loan purpose was Home Purchase, with 13 originations. The 2nd most popular reason was Refi, with 4 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 20 | $3,200,000 | $160,000 | $0 | 0.00% |
For 2024, Fairfax State Savings Bank's most frequently cited loan duration was Other, with 20 originations.
Loan Sizing
2024 saw Fairfax State Savings Bank place emphasis on $100,000 or less loans with 9 originations, totaling $375,000 in origination value.
Applicant Income
Fairfax State Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 3 originations. The second most popular income band? $50k-75k, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 20 | $3,200,000 | $160,000 | $0 | 0.00% |
Fairfax State Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 20 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 9 | $2,285,000 | $253,889 | $0 | 0.00% |
| White | 10 | $870,000 | $87,000 | $0 | 0.00% |
| Black | 1 | $45,000 | $45,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications86.67%
Fairfax State Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination70.00%
Fairfax State 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 |
|---|---|---|---|
| Exempt | 20 | $3,200,000 | $160,000 |