Enterprise Bank & Trust Mortgage Rates, Fees & Info
Clayton, MOLEI: K0ZDN2CBIQC0EHBKNK35
Tax ID: 43-1472619
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Mortgage Data
Review & Overview
Enterprise Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. Enterprise Bank & Trust has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Los Angeles, St. Louis, San Diego, Phoenix, and Santa Fe among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)Enterprise Bank & Trust 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. Enterprise Bank & Trust is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.56% | 12/16/24 |
| 30 Year Conventional Refi | 6.33% | 12/16/24 |
| 30 Year Cash-out Refi | 6.67% | 12/16/24 |
| 30 Year FHA Purchase | 7.31% | 12/16/24 |
| 30 Year FHA Refi | 7.69% | 12/16/24 |
| 30 Year VA Purchase | 6.48% | 12/16/24 |
| 15 Year Conventional Purchase | 5.86% | 12/16/24 |
| 15 Year Conventional Refi | 6.15% | 12/16/24 |
| 15 Year Cash-out Refi | 6.15% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Enterprise Bank & Trust Mortgage Calculator
Your Estimates
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This is not an official calculator from Enterprise Bank & Trust. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
247Origination Dollar Volume (All Markets)
$153,475,000Awards
Enterprise Bank & Trust - 2023
Enterprise Bank & Trust is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Enterprise Bank & Trust's average 30 year fixed mortgage rate was
6.47%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.01%.
Relative Fees (Closing Costs)
Enterprise Bank & Trust's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,475.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 6 | $41,670,000 | $6,945,000 | $0 | 7.97% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 139 | $35,775,000 | $257,374 | $3,048 | 7.21% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 5 | $30,305,000 | $6,061,000 | $0 | 7.75% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 6 | $8,380,000 | $1,396,667 | $7,996 | 6.26% |
| SANTA FE, NM (FHA|USDA|VA) | 20 | $7,840,000 | $392,000 | $5,183 | 6.91% |
| Los Alamos, NM (FHA|USDA|VA) | 17 | $5,965,000 | $350,882 | $4,388 | 6.56% |
| TULSA, OK (FHA|USDA|VA) | 1 | $4,905,000 | $4,905,000 | $0 | 6.34% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $4,205,000 | $4,205,000 | $0 | 7.09% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $3,520,000 | $880,000 | $4,166 | 7.27% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 22 | $3,310,000 | $150,455 | $3,180 | 6.44% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $0 | 6.40% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 6 | $1,350,000 | $225,000 | $4,793 | 6.27% |
| Taos, NM (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $2,714 | 6.17% |
| Española, NM (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $4,970 | 7.25% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $10,594 | 4.75% |
| LAWRENCE, KS (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $3,115 | 6.63% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 7.63% |
| Atchison, KS (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $1,573 | 6.88% |
| Outside of Metro Areas | 2 | $280,000 | $140,000 | $1,963 | 7.88% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,852 | 7.13% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,404 | 6.63% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 6.41% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 7.73% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,322 | 6.88% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 8.22% |
| Las Vegas, NM (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,589 | 6.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against Enterprise Bank & Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2023, Enterprise Bank & Trust's most frequently originated type of loan was Conventional, with 237 originations. Their 2nd most popular type was FHA, with 6 originations.
Loan Reason
For 2023, Enterprise Bank & Trust's most frequently cited loan purpose was Home Purchase, with 145 originations. The 2nd most popular reason was Refi, with 43 originations.
Loan Duration/Length
For 2023, Enterprise Bank & Trust's most frequently cited loan duration was 30 Year, with 98 originations. The 2nd most popular length was 5 Year, with 59 originations.
Origination Fees/Closing Costs
Enterprise Bank & Trust's average total fees were $4,475, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 82 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 95 | $65,295,000 | $687,316 |
| 7-8% | 68 | $43,060,000 | $633,235 |
| Over 8% | 43 | $33,785,000 | $785,698 |
| 5-6% | 36 | $8,970,000 | $249,167 |
| 4-5% | 4 | $2,230,000 | $557,500 |
During 2023, Enterprise Bank & Trust's average interest rate for loans was 6.47%, while their most frequently originated rate bucket for loans was 6-7%, with 95 originations.
Loan Sizing
2023 saw Enterprise Bank & Trust place emphasis on $200k-400k loans with 76 originations, totaling $21,690,000 in origination value.
Applicant Income
Enterprise Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 30 originations. The second most popular income band? $150k-250k, with 25 originations.
Applicant Debt to Income Ratio
Enterprise Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 42 originations. The next most common DTI ratio? 30-36%, with 31 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.08%
Enterprise Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination72.06%
Enterprise Bank & Trust has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 247 | $153,475,000 | $621,356 |