Enterprise Bank & Trust Mortgage Rates, Fees & Info

Clayton, MO

LEI: K0ZDN2CBIQC0EHBKNK35

Tax ID: 43-1472619

5 stars - Updated: 3/28/24 - out of 5 stars, based on 16 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.56% 3/28/24
30 Year Conventional Refi 6.33% 3/28/24
30 Year Cash-out Refi 6.67% 3/28/24
30 Year FHA Purchase 7.31% 3/28/24
30 Year FHA Refi 7.69% 3/28/24
30 Year VA Purchase 6.48% 3/28/24
15 Year Conventional Purchase 5.86% 3/28/24
15 Year Conventional Refi 6.15% 3/28/24
15 Year Cash-out Refi 6.15% 3/28/24
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

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Enterprise Bank & Trust. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

247

Origination Dollar Volume (All Markets)

$153,475,000

Awards

Enterprise Bank & Trust 30 Year Conventional Loans bronze
Show all (1) awards

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%
EspaƱola, 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%
Enterprise Bank & Trust's top markets include Los Angeles, St. Louis, San Diego, Phoenix, and Santa Fe among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • 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.

    GUADALUPE CREDIT UNION
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    CNB Bank And Trust, N.A.
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    FIRST COMMUNITY
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    First National Bank of Waterloo
    Similarity Rank: 340
    SANDIA LABORATORY
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    United Bank of Union
    Similarity Rank: 360
    Del Norte Credit Union
    Similarity Rank: 363

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 237 $148,475,000 $626,477 $3,455 7.03%
    FHA 6 $1,430,000 $238,333 $7,827 6.56%
    HELOC 2 $2,370,000 $1,185,000 n/a 8.53%
    VA 2 $1,200,000 $600,000 $7,135 6.75%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 145 $60,295,000 $415,828 $4,820 7.11%
    Refi 43 $65,035,000 $1,512,442 $2,619 6.86%
    Home Improvement 29 $22,345,000 $770,517 $1,600 7.51%
    Other 20 $3,470,000 $173,500 $2,097 6.53%
    Cash Out Refi 10 $2,330,000 $233,000 $2,685 6.20%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 98 $33,180,000 $338,571 $4,475 6.47%
    5 Year 59 $35,615,000 $603,644 $1,163 6.96%
    1 Year 30 $21,670,000 $722,333 $4,215 8.34%
    Other 25 $27,995,000 $1,119,800 $923 8.34%
    10 Year 22 $16,920,000 $769,091 $775 6.74%
    3 Year 6 $16,390,000 $2,731,667 $0 6.53%
    15 Year 6 $1,500,000 $250,000 $4,864 6.48%
    20 Year 1 $205,000 $205,000 $0 7.64%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 82 $22,270,000 $271,585
    $1k-2k 22 $5,970,000 $271,364
    $2k-3k 6 $850,000 $141,667
    $4k-5k 6 $2,040,000 $340,000
    $5k+ 6 $3,690,000 $615,000
    $3k-4k 5 $1,135,000 $227,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 76 $21,690,000 $285,395 $4,446 7.03%
    $100k-200k 68 $10,050,000 $147,794 $2,989 7.09%
    $100,000 or less 48 $2,880,000 $60,000 $1,411 6.90%
    $400k-600k 22 $10,270,000 $466,818 $4,329 7.30%
    $1MM+ 19 $98,365,000 $5,177,105 $4,303 7.34%
    $600k-1MM 14 $10,220,000 $730,000 $8,043 6.26%

    2023 saw Enterprise Bank & Trust place emphasis on $200k-400k loans with 76 originations, totaling $21,690,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 30 $7,340,000 $244,667 $4,106 6.39%
    $150k-250k 25 $8,995,000 $359,800 $4,061 6.67%
    $50k-75k 23 $3,505,000 $152,391 $3,165 6.72%
    $250k+ 17 $10,595,000 $623,235 $4,123 6.24%
    $50k or less 16 $1,230,000 $76,875 $2,360 6.38%
    $75k-100k 14 $3,260,000 $232,857 $4,000 6.65%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 42 $12,180,000 $290,000 $3,157 6.46%
    30-36% 31 $9,185,000 $296,290 $4,183 6.57%
    <20% 14 $3,040,000 $217,143 $2,578 6.29%
    42% 7 $1,645,000 $235,000 $5,024 6.73%
    40% 6 $1,490,000 $248,333 $2,830 6.27%
    37% 5 $965,000 $193,000 $3,548 6.38%
    36% 5 $2,035,000 $407,000 $3,892 6.83%
    49% 4 $1,010,000 $252,500 $3,414 6.16%
    43% 4 $900,000 $225,000 $3,313 6.81%
    39% 3 $1,225,000 $408,333 $6,608 6.08%
    50-60% 2 $840,000 $420,000 $6,351 7.38%
    38% 2 $350,000 $175,000 $3,488 6.88%
    41% 2 $950,000 $475,000 $4,648 7.44%
    45% 2 $770,000 $385,000 $6,841 6.63%
    46% 2 $410,000 $205,000 $5,944 6.50%
    44% 1 $285,000 $285,000 $1,573 6.88%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 93 $111,975,000 $1,204,032 $0 7.63%
    White 147 $38,515,000 $262,007 $3,649 6.68%
    Asian 3 $1,505,000 $501,667 $5,037 5.88%
    Black 2 $890,000 $445,000 $6,075 6.94%
    Not provided 2 $590,000 $295,000 $4,281 6.63%

    Approval Rates

    Total approvals of all applications
    85.08%

    Enterprise Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.06%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    247 $153,475,000 $621,356

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $55,590,000 $1,737,188 $2,402 6.71%
    40-60% 39 $31,245,000 $801,154 $3,506 6.99%
    60-80% 101 $42,025,000 $416,089 $4,884 7.14%
    80-100% 54 $17,870,000 $330,926 $4,631 7.06%
    Under 20% 21 $6,745,000 $321,190 $1,167 6.98%