West Bank Mortgage Rates, Fees & Info

West Des Moines, IA

LEI: 89Z2WRK82BORVH42CP71

Tax ID: 42-0592977

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Mortgage Data

Review & Overview

West Bank is a smaller bank specializing in Home Purchase and Refi loans. West Bank has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Iowa City, St. Cloud, Rochester, and Mankato among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

West 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

75

Origination Dollar Volume (All Markets)

$170,615,000

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
Outside of Metro Areas 23 $110,765,000 $4,815,870 $0 0.00%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 23 $31,785,000 $1,381,957 $0 0.00%
IOWA CITY, IA (FHA|USDA|VA) 20 $18,740,000 $937,000 $0 0.00%
ST. CLOUD, MN (FHA|USDA|VA) 4 $4,660,000 $1,165,000 $0 0.00%
ROCHESTER, MN (FHA|USDA|VA) 4 $2,660,000 $665,000 $0 0.00%
MANKATO, MN (FHA|USDA|VA) 1 $2,005,000 $2,005,000 $0 0.00%
West Bank's top markets include Des Moines, Iowa City, St. Cloud, Rochester, and Mankato among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 75 $170,615,000 $2,274,867 $0 0.00%

    For 2022, West Bank's most frequently originated type of loan was Conventional, with 75 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 47 $88,235,000 $1,877,340 $0 0.00%
    Refi 24 $81,960,000 $3,415,000 $0 0.00%
    Home Improvement 3 $395,000 $131,667 $0 0.00%
    Other 1 $25,000 $25,000 $0 0.00%

    For 2022, West Bank's most frequently cited loan purpose was Home Purchase, with 47 originations. The 2nd most popular reason was Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 75 $170,615,000 $2,274,867 $0 0.00%

    For 2022, West Bank's most frequently cited loan duration was Other, with 75 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 20 $5,390,000 $269,500 $0 0.00%
    $1MM+ 18 $155,220,000 $8,623,333 $0 0.00%
    $100k-200k 13 $1,865,000 $143,462 $0 0.00%
    $100,000 or less 12 $740,000 $61,667 $0 0.00%
    $600k-1MM 7 $4,955,000 $707,857 $0 0.00%
    $400k-600k 5 $2,445,000 $489,000 $0 0.00%

    2022 saw West Bank place emphasis on $200k-400k loans with 20 originations, totaling $5,390,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 9 $6,045,000 $671,667 $0 0.00%
    $100k-150k 4 $620,000 $155,000 $0 0.00%
    $150k-250k 3 $295,000 $98,333 $0 0.00%
    $75k-100k 3 $255,000 $85,000 $0 0.00%
    $50k-75k 1 $85,000 $85,000 $0 0.00%

    West Bank lent most frequently to those with incomes in the $250k+ range, with 9 originations. The second most popular income band? $100k-150k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 75 $170,615,000 $2,274,867 $0 0.00%

    West Bank lent most frequently to those with DTI ratios of Exempt%, with 75 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 51 $161,505,000 $3,166,765 $0 0.00%
    White 22 $5,300,000 $240,909 $0 0.00%
    Not provided 2 $3,810,000 $1,905,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.73%

    West Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.00%

    West Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 75 $170,615,000 $2,274,867

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    75 $170,615,000 $2,274,867