Fairfax State Savings Bank Mortgage Rates, Fees & Info
Fairfax, IALEI: 549300Y4I3OP11OGQV16
Tax ID: 42-0239930
Latest/2023 | 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 and Refi loans. Fairfax State Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Cedar Rapids, Iowa City, Dallas, and Des Moines 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 above 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
29Origination Dollar Volume (All Markets)
$2,775,000Top 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) | 23 | $2,185,000 | $95,000 | $0 | 0.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $135,000 | $135,000 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 29 | $2,775,000 | $95,690 | $0 | 0.00% |
For 2018, Fairfax State Savings Bank's most frequently originated type of loan was Conventional, with 29 originations.
Loan Reason
For 2018, Fairfax State Savings Bank's most frequently cited loan purpose was Home Purchase, with 15 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 29 | $2,775,000 | $95,690 | $0 | 0.00% |
For 2018, Fairfax State Savings Bank's most frequently cited loan duration was Other, with 29 originations.
Loan Sizing
2018 saw Fairfax State Savings Bank place emphasis on $100,000 or less loans with 21 originations, totaling $1,165,000 in origination value.
Applicant Income
Fairfax State Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 9 originations. The second most popular income band? $50k or less, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 29 | $2,775,000 | $95,690 | $0 | 0.00% |
Fairfax State Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 29 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 24 | $1,820,000 | $75,833 | $0 | 0.00% |
| Not applicable | 5 | $955,000 | $191,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.14%
Fairfax State 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 origination82.76%
Fairfax State Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 29 | $2,775,000 | $95,690 |