Prairie State Bank And Trust Mortgage Rates, Fees & Info

Springfield, IL

LEI: 2549001E11O22GGBEL86

Tax ID: 37-1239418

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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, Bloomington, Decatur, Champaign, and Peoria among others. We have data for 18 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 a below 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 6.40% 4/28/24
    30 Year Conventional Refi 6.30% 4/28/24
    30 Year Cash-out Refi 6.26% 4/28/24
    15 Year Conventional Purchase 5.82% 4/28/24
    15 Year Conventional Refi 5.79% 4/28/24
    15 Year Cash-out Refi 5.79% 4/28/24
    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.

    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

    433

    Origination Dollar Volume (All Markets)

    $84,395,000
    Show all (8) awards

    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) 105 $18,615,000 $177,286 $1,542 4.73%
    BLOOMINGTON, IL (FHA|USDA|VA) 54 $15,380,000 $284,815 $1,622 4.31%
    DECATUR, IL (FHA|USDA|VA) 112 $14,900,000 $133,036 $1,557 4.66%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 27 $13,695,000 $507,222 $1,441 4.78%
    PEORIA, IL (FHA|USDA|VA) 18 $6,740,000 $374,444 $1,623 4.53%
    Charleston-Mattoon, IL (FHA|USDA|VA) 45 $5,865,000 $130,333 $1,421 4.74%
    Outside of Metro Areas 28 $3,040,000 $108,571 $1,274 4.49%
    Jacksonville, IL (FHA|USDA|VA) 16 $1,710,000 $106,875 $1,727 4.63%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 14 $1,300,000 $92,857 $1,324 4.74%
    Taylorville, IL (FHA|USDA|VA) 4 $910,000 $227,500 $1,072 5.31%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $880,000 $440,000 $0 4.88%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $375,000 $375,000 $2,705 5.25%
    Quincy, IL-MO (FHA|USDA|VA) 1 $185,000 $185,000 $1,607 4.38%
    DANVILLE, IL (FHA|USDA|VA) 2 $180,000 $90,000 $1,426 5.13%
    Hannibal, MO (FHA|USDA|VA) 1 $175,000 $175,000 $0 3.00%
    Houghton, MI (FHA|USDA|VA) 1 $175,000 $175,000 $1,298 3.50%
    Lincoln, IL (FHA|USDA|VA) 1 $165,000 $165,000 $881 3.63%
    Macomb, IL (FHA|USDA|VA) 1 $105,000 $105,000 $1,388 5.13%
    Prairie State Bank And Trust's top markets include Springfield, Bloomington, Decatur, Champaign, and Peoria among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Michigan (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.

    Alliance Community Bank
    Similarity Rank: 45
    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 59
    First State Bank
    Similarity Rank: 90
    HEARTLAND
    Similarity Rank: 108
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 126
    UNIVERSITY OF ILLINOIS COMMUNITY
    Similarity Rank: 162
    First National Bank of Waterloo
    Similarity Rank: 216
    Gateway Metro Federal Credit Union
    Similarity Rank: 240
    Goodfield State Bank
    Similarity Rank: 240
    Bank of Pontiac
    Similarity Rank: 270

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 433 $84,395,000 $194,908 $1,506 4.63%

    For 2022, Prairie State Bank And Trust's most frequently originated type of loan was Conventional, with 433 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 260 $55,980,000 $215,308 $1,812 4.86%
    Refi 70 $12,530,000 $179,000 $1,133 3.87%
    Cash Out Refi 67 $12,585,000 $187,836 $1,235 4.25%
    Home Improvement 18 $1,830,000 $101,667 $666 5.05%
    Other 18 $1,470,000 $81,667 $913 5.40%

    For 2022, Prairie State Bank And Trust's most frequently cited loan purpose was Home Purchase, with 260 originations. The 2nd most popular reason was Refi, with 70 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 175 $29,055,000 $166,029 $1,753 5.00%
    5 Year 113 $29,955,000 $265,088 $959 4.46%
    Other 69 $13,855,000 $200,797 $1,103 5.08%
    15 Year 55 $6,625,000 $120,455 $1,385 3.57%
    20 Year 10 $1,360,000 $136,000 $1,191 4.41%
    10 Year 7 $3,205,000 $457,857 $1,274 2.71%
    1 Year 3 $335,000 $111,667 $924 4.87%
    3 Year 1 $5,000 $5,000 $160 3.95%

    For 2022, Prairie State Bank And Trust's most frequently cited loan duration was 30 Year, with 175 originations. The 2nd most popular length was 5 Year, with 113 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 291 $44,755,000 $153,797
    $1k-2k 4 $610,000 $152,500
    $2k-3k 1 $205,000 $205,000
    $3k-4k 1 $275,000 $275,000

    Prairie State Bank And Trust's average total fees were $1,753, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 291 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 125 $21,285,000 $170,280
    5-6% 114 $17,190,000 $150,789
    3-4% 108 $27,560,000 $255,185
    6-7% 38 $4,640,000 $122,105
    2.5-3% 33 $11,075,000 $335,606
    <2.5% 10 $1,940,000 $194,000
    7-8% 4 $680,000 $170,000
    Over 8% 1 $25,000 $25,000

    During 2022, Prairie State Bank And Trust's average interest rate for loans was 5.00%, while their most frequently originated rate bucket for loans was 4-5%, with 125 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 178 $10,280,000 $57,753 $1,279 4.75%
    $100k-200k 152 $21,150,000 $139,145 $1,567 4.65%
    $200k-400k 72 $19,400,000 $269,444 $1,765 4.73%
    $400k-600k 13 $6,295,000 $484,231 $2,073 3.79%
    $600k-1MM 10 $6,800,000 $680,000 $1,565 3.65%
    $1MM+ 8 $20,470,000 $2,558,750 $0 3.59%

    2022 saw Prairie State Bank And Trust place emphasis on $100,000 or less loans with 178 originations, totaling $10,280,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 76 $8,420,000 $110,789 $1,619 5.01%
    $100k-150k 73 $11,185,000 $153,219 $1,480 4.77%
    $50k or less 72 $5,420,000 $75,278 $1,390 4.65%
    $75k-100k 61 $8,535,000 $139,918 $1,502 4.52%
    $150k-250k 45 $9,025,000 $200,556 $1,450 4.68%
    $250k+ 38 $10,230,000 $269,211 $1,708 4.42%

    Prairie State Bank And Trust lent most frequently to those with incomes in the $50k-75k range, with 76 originations. The second most popular income band? $100k-150k, with 73 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 110 $15,470,000 $140,636 $1,468 4.77%
    <20% 66 $8,850,000 $134,091 $1,494 4.56%
    30-36% 60 $9,250,000 $154,167 $1,520 4.99%
    39% 13 $3,075,000 $236,538 $1,509 4.37%
    42% 10 $1,920,000 $192,000 $1,776 4.50%
    36% 9 $2,275,000 $252,778 $1,584 4.48%
    38% 8 $890,000 $111,250 $1,676 4.75%
    40% 7 $1,115,000 $159,286 $1,505 5.30%
    43% 5 $445,000 $89,000 $1,032 5.05%
    37% 5 $555,000 $111,000 $1,500 4.55%
    45% 5 $1,045,000 $209,000 $2,129 4.10%
    46% 5 $635,000 $127,000 $1,266 4.35%
    41% 4 $490,000 $122,500 $1,719 4.41%
    49% 3 $345,000 $115,000 $1,271 4.86%
    47% 3 $305,000 $101,667 $1,679 5.08%
    50-60% 1 $205,000 $205,000 $423 6.13%
    44% 1 $265,000 $265,000 $1,590 4.88%
    48% 1 $95,000 $95,000 $1,797 4.63%

    Prairie State Bank And Trust lent most frequently to those with DTI ratios of 20-30%, with 110 originations. The next most common DTI ratio? <20%, with 66 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 326 $45,640,000 $140,000 $1,486 4.70%
    Not applicable 60 $29,810,000 $496,833 $0 4.26%
    Asian 23 $5,335,000 $231,957 $1,769 4.79%
    Not provided 17 $2,755,000 $162,059 $1,643 4.26%
    Black 7 $855,000 $122,143 $1,606 5.29%

    Approval Rates

    Total approvals of all applications
    96.96%

    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
    89.61%

    Prairie State Bank And Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 433 $84,395,000 $194,908

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    433 $84,395,000 $194,908

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $3,340,000 $92,778 $1,147 4.88%
    40-60% 46 $8,860,000 $192,609 $1,410 4.23%
    60-80% 156 $33,370,000 $213,910 $1,442 4.45%
    80-100% 162 $37,530,000 $231,667 $1,796 4.82%
    Under 20% 33 $1,295,000 $39,242 $658 4.87%