The Eastern Colorado Bank Mortgage Rates, Fees & Info
Cheyenne Wells, COLEI: 549300ZXXYWVD5ZXYN28
Tax ID: 84-0361004
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Mortgage Data
Review & Overview
The Eastern Colorado Bank is a smaller bank specializing in Home Purchase loans. The Eastern Colorado Bank has a high proportion of conventional loans. Their top markets by origination volume include: Colorado Springs, Denver, The Villages, Hays, and Fort Morgan among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)The Eastern Colorado 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
18Origination Dollar Volume (All Markets)
$8,940,000Top 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 |
|---|---|---|---|---|---|
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 4 | $4,830,000 | $1,207,500 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $2,005,000 | $668,333 | $0 | 0.00% |
| Outside of Metro Areas | 7 | $1,175,000 | $167,857 | $0 | 0.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 0.00% |
| Hays, KS (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 0.00% |
| Fort Morgan, CO (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 18 | $8,940,000 | $496,667 | $0 | 0.00% |
For 2023, The Eastern Colorado Bank's most frequently originated type of loan was Conventional, with 18 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 13 | $8,175,000 | $628,846 | $0 | 0.00% |
| Refi | 3 | $665,000 | $221,667 | $0 | 0.00% |
| Cash Out Refi | 2 | $100,000 | $50,000 | $0 | 0.00% |
For 2023, The Eastern Colorado Bank's most frequently cited loan purpose was Home Purchase, with 13 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 18 | $8,940,000 | $496,667 | $0 | 0.00% |
For 2023, The Eastern Colorado Bank's most frequently cited loan duration was Other, with 18 originations.
Loan Sizing
2023 saw The Eastern Colorado Bank place emphasis on $100k-200k loans with 5 originations, totaling $725,000 in origination value.
Applicant Income
The Eastern Colorado Bank lent most frequently to those with incomes in the $250k+ range, with 5 originations. The second most popular income band? $75k-100k, with 4 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 18 | $8,940,000 | $496,667 | $0 | 0.00% |
The Eastern Colorado Bank lent most frequently to those with DTI ratios of Exempt%, with 18 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 15 | $8,515,000 | $567,667 | $0 | 0.00% |
| Not applicable | 3 | $425,000 | $141,667 | $0 | 0.00% |
Approval Rates
Total approvals of all applications84.38%
The Eastern Colorado Bank has a below average approval rate.
Pick Rate
Approvals leading to origination72.22%
The Eastern Colorado Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 18 | $8,940,000 | $496,667 |