Prairie State Bank And Trust Mortgage Rates, Fees & Info

Springfield, IL

LEI: 2549001E11O22GGBEL86

Tax ID: 37-1239418

5 stars - Updated: 4/17/25 - out of 5 stars, based on 17 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Prairie State Bank And Trust is a smaller bank specializing in Home Purchase loans. Prairie State Bank And Trust has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Decatur, Bloomington, Champaign, and Charleston among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Prairie State Bank And Trust has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Prairie State Bank And 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 about average 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 6.71% 4/17/25
    30 Year Conventional Refi 6.69% 4/17/25
    30 Year Cash-out Refi 6.54% 4/17/25
    15 Year Conventional Purchase 6.19% 4/17/25
    15 Year Conventional Refi 6.45% 4/17/25
    15 Year Cash-out Refi 6.45% 4/17/25
    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.

    Prairie State Bank And Trust Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Prairie State Bank And 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

    284

    Origination Dollar Volume (All Markets)

    $53,060,000
    Show all (7) awards

    Relative Rate

    Prairie State Bank And Trust's average 30 year fixed mortgage rate was 6.61%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.06%.

    Relative Fees (Closing Costs)

    Prairie State Bank And Trust's average total fees/closing costs for a 30 year fixed rate mortgage were $1,836.

    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 $8,356.

    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
    SPRINGFIELD, IL (FHA|USDA|VA) 76 $14,500,000 $190,789 $1,649 7.13%
    DECATUR, IL (FHA|USDA|VA) 47 $7,315,000 $155,638 $1,589 7.04%
    BLOOMINGTON, IL (FHA|USDA|VA) 25 $6,225,000 $249,000 $1,974 7.09%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 28 $6,120,000 $218,571 $1,365 6.85%
    Charleston-Mattoon, IL (FHA|USDA|VA) 45 $5,145,000 $114,333 $1,643 6.93%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $4,005,000 $4,005,000 $20,078 5.63%
    Outside of Metro Areas 21 $3,465,000 $165,000 $1,717 7.02%
    Jacksonville, IL (FHA|USDA|VA) 16 $1,590,000 $99,375 $1,308 7.40%
    PEORIA, IL (FHA|USDA|VA) 8 $1,340,000 $167,500 $1,463 6.83%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $1,040,000 $520,000 $3,846 6.25%
    DANVILLE, IL (FHA|USDA|VA) 4 $450,000 $112,500 $1,740 6.41%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 5 $435,000 $87,000 $1,662 6.50%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $405,000 $405,000 $0 7.63%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $315,000 $315,000 $2,878 6.38%
    Lincoln, IL (FHA|USDA|VA) 2 $260,000 $130,000 $1,915 6.94%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $235,000 $235,000 $2,052 7.38%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $215,000 $215,000 $0 7.25%
    Prairie State Bank And Trust's top markets include Springfield, Decatur, Bloomington, Champaign, and Charleston among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Prairie State Bank and Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    UNIVERSITY OF ILLINOIS COMMUNITY
    Similarity Rank: 32
    HEARTLAND
    Similarity Rank: 98
    ILLINOIS STATE CREDIT UNION
    Similarity Rank: 116
    ELECTRO SAVINGS CREDIT UNION
    Similarity Rank: 198
    United Bank of Union
    Similarity Rank: 200
    Bank of Hillsboro
    Similarity Rank: 225
    First National Bank of Waterloo
    Similarity Rank: 259
    Petefish, Skiles & Co.
    Similarity Rank: 264
    Fortress Bank
    Similarity Rank: 288
    VANTAGE Credit Union
    Similarity Rank: 290

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 284 $53,060,000 $186,831 $1,746 7.02%

    For 2024, Prairie State Bank And Trust's most frequently originated type of loan was Conventional, with 284 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 193 $42,055,000 $217,902 $2,121 6.84%
    Cash Out Refi 29 $3,285,000 $113,276 $1,285 7.09%
    Refi 24 $5,340,000 $222,500 $1,352 6.70%
    Other 23 $1,295,000 $56,304 $971 8.27%
    Home Improvement 15 $1,085,000 $72,333 $1,003 7.69%

    For 2024, Prairie State Bank And Trust's most frequently cited loan purpose was Home Purchase, with 193 originations. The 2nd most popular reason was Cash Out Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 126 $23,270,000 $184,683 $1,836 6.61%
    5 Year 82 $14,460,000 $176,341 $765 7.43%
    Other 51 $9,885,000 $193,824 $1,671 7.69%
    15 Year 18 $3,170,000 $176,111 $1,942 6.28%
    10 Year 4 $1,700,000 $425,000 $1,835 6.16%
    20 Year 2 $500,000 $250,000 $1,436 5.94%
    1 Year 1 $75,000 $75,000 $0 9.00%

    For 2024, Prairie State Bank And Trust's most frequently cited loan duration was 30 Year, with 126 originations. The 2nd most popular length was 5 Year, with 82 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 188 $33,880,000 $180,213
    $1k-2k 4 $1,260,000 $315,000
    $2k-3k 1 $305,000 $305,000

    Prairie State Bank And Trust's average total fees were $1,836, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 188 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 167 $32,435,000 $194,222
    7-8% 81 $13,875,000 $171,296
    Over 8% 22 $810,000 $36,818
    5-6% 14 $5,940,000 $424,286

    During 2024, Prairie State Bank And Trust's average interest rate for loans was 6.61%, while their most frequently originated rate bucket for loans was 6-7%, with 167 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 103 $5,525,000 $53,641 $1,256 7.42%
    $100k-200k 94 $13,530,000 $143,936 $1,817 6.77%
    $200k-400k 64 $17,780,000 $277,813 $1,864 6.78%
    $400k-600k 16 $7,720,000 $482,500 $1,972 6.88%
    $600k-1MM 5 $3,495,000 $699,000 $3,417 7.20%
    $1MM+ 2 $5,010,000 $2,505,000 $20,078 6.06%

    2024 saw Prairie State Bank And Trust place emphasis on $100,000 or less loans with 103 originations, totaling $5,525,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 56 $8,370,000 $149,464 $1,547 6.96%
    $50k-75k 43 $4,845,000 $112,674 $1,601 7.04%
    $150k-250k 38 $9,180,000 $241,579 $1,876 6.89%
    $250k+ 32 $11,170,000 $349,063 $3,050 6.93%
    $50k or less 29 $2,045,000 $70,517 $1,543 6.83%
    $75k-100k 27 $3,235,000 $119,815 $1,523 7.14%

    Prairie State Bank And Trust lent most frequently to those with incomes in the $100k-150k range, with 56 originations. The second most popular income band? $50k-75k, with 43 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 58 $10,370,000 $178,793 $1,711 6.72%
    30-36% 53 $9,165,000 $172,925 $1,653 7.03%
    <20% 36 $8,850,000 $245,833 $2,154 6.78%
    36% 14 $1,440,000 $102,857 $1,472 7.29%
    37% 10 $1,570,000 $157,000 $1,549 7.43%
    38% 9 $1,235,000 $137,222 $1,669 7.13%
    40% 5 $785,000 $157,000 $1,948 6.53%
    39% 4 $720,000 $180,000 $1,335 6.53%
    43% 3 $385,000 $128,333 $2,023 7.25%
    41% 3 $815,000 $271,667 $2,070 6.67%
    45% 2 $210,000 $105,000 $1,360 6.25%
    42% 1 $175,000 $175,000 $1,833 6.50%
    47% 1 $315,000 $315,000 $1,403 6.50%
    49% 1 $45,000 $45,000 $1,673 7.38%
    >60% 1 $95,000 $95,000 $1,182 7.88%

    Prairie State Bank And Trust lent most frequently to those with DTI ratios of 20-30%, with 58 originations. The next most common DTI ratio? 30-36%, with 53 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 204 $35,090,000 $172,010 $1,759 6.96%
    Not applicable 50 $11,540,000 $230,800 $0 7.24%
    Asian 20 $4,990,000 $249,500 $1,956 6.87%
    Not provided 7 $965,000 $137,857 $1,104 7.38%
    Black 3 $475,000 $158,333 $1,234 7.50%

    Approval Rates

    Total approvals of all applications
    95.86%

    Prairie State Bank And Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    94.01%

    Prairie State Bank And Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 284 $53,060,000 $186,831

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    284 $53,060,000 $186,831

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $6,000,000 $214,286 $2,109 7.13%
    40-60% 43 $7,415,000 $172,442 $1,450 6.82%
    60-80% 95 $16,565,000 $174,368 $1,654 6.93%
    80-100% 91 $20,325,000 $223,352 $2,060 6.82%
    Over 100% 3 $905,000 $301,667 $2,855 6.88%
    Under 20% 24 $1,850,000 $77,083 $825 8.35%