We compare mortgage interest rate and loan related closing costs at Salin Bank & Trust Company with other lenders for mortgages with similar borrower characteristics:
Interest Rate: similar to average (-0.04%)
Loan Related Closing Costs: similar to average (-$91)
Assessment: this lender tends to be a cheap lender.
This scoreboard is based on data reported to FFIEC. In the data, Salin Bank & Trust Company originated 193 mortgages, a national market share of 0.0%. It was primarily active in IN, with a 0.1% market share.
On average, Salin Bank & Trust Company’s interest rates were similar to those of comparable mortgages at other lenders (-0.04%).1The comparable mortgages control for Salin Bank & Trust Company’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $1580, which was similar to those of comparable mortgages at $1670, with a difference of -$91. Overall, we estimate that Salin Bank & Trust Company tends to be an cheap lender, with a cost-adjusted-rate difference of -0.17% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Salin Bank & Trust Company.
Salin Bank & Trust Company originated Conforming mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:
Home Purchase Mortgages from Salin Bank & Trust Company compared to other lenders
| Conforming | |
|---|---|
| Interest Rate Difference | -0.07% |
| Loan related Closing Cost Difference | +$124 |
| Cost Adjusted Rate Difference | -0.04% |
Based on the table above, Salin Bank & Trust Company is similar to other lenders for Conforming purchase mortgages.
Mortgage Refinancing from Salin Bank & Trust Company compared to other lenders
| Conforming | |
|---|---|
| Interest Rate Difference | -0.01% |
| Loan Related Closing Cost Difference | -$309 |
| Cost Adjusted Rate Difference | -0.30% |
Based on the table above, Salin Bank & Trust Company is cheap for Conforming mortgage refinance.
Other information about Salin Bank & Trust Company:
Regulator: Federal Reserve System (FRS)
Top holder: SALIN BANCSHARES, INC.
Registered city and state: Indianapolis, IN, 46240