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 two markets are Colorado Springs and Denver .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
48Origination Dollar Volume (All Markets)
$19,270,000Top 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) | 11 | $8,855,000 | $805,000 | $0 | 0.00% |
| Outside of Metro Areas | 32 | $6,200,000 | $193,750 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 5 | $4,215,000 | $843,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 48 | $19,270,000 | $401,458 | $0 | 0.00% |
For 2022, The Eastern Colorado Bank's most frequently originated type of loan was Conventional, with 48 originations.
Loan Reason
For 2022, The Eastern Colorado Bank's most frequently cited loan purpose was Home Purchase, with 28 originations. The 2nd most popular reason was Cash Out Refi, with 12 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 48 | $19,270,000 | $401,458 | $0 | 0.00% |
For 2022, The Eastern Colorado Bank's most frequently cited loan duration was Other, with 48 originations.
Loan Sizing
2022 saw The Eastern Colorado Bank place emphasis on $200k-400k loans with 16 originations, totaling $4,580,000 in origination value.
Applicant Income
The Eastern Colorado Bank lent most frequently to those with incomes in the $100k-150k range, with 11 originations. The second most popular income band? $250k+, with 8 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 48 | $19,270,000 | $401,458 | $0 | 0.00% |
The Eastern Colorado Bank lent most frequently to those with DTI ratios of Exempt%, with 48 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.04%
The Eastern Colorado Bank has an average approval rate.
Pick Rate
Approvals leading to origination43.75%
The Eastern Colorado 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 | 48 | $19,270,000 | $401,458 |