West Central Bank Mortgage Rates, Fees & Info
Ashland, ILLEI: 25490076YOMAEM6W0N66
Tax ID: 37-0532580
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Mortgage Data
Review & Overview
West Central Bank is a smaller bank specializing in Home Purchase and Refi loans. West Central Bank has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Jacksonville, St. Louis, Cullowhee, and Naples among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)West Central Bank 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.
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Originations
140Origination Dollar Volume (All Markets)
$19,250,000Top 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) | 42 | $10,440,000 | $248,571 | $0 | 0.00% |
| Outside of Metro Areas | 80 | $6,580,000 | $82,250 | $0 | 0.00% |
| Jacksonville, IL (FHA|USDA|VA) | 7 | $735,000 | $105,000 | $0 | 0.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $0 | 0.00% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| DECATUR, IL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| PEORIA, IL (FHA|USDA|VA) | 3 | $145,000 | $48,333 | $0 | 0.00% |
| Macomb, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| Lincoln, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 140 | $19,250,000 | $137,500 | $0 | 0.00% |
For 2023, West Central Bank's most frequently originated type of loan was Conventional, with 140 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 100 | $14,380,000 | $143,800 | $0 | 0.00% |
| Refi | 37 | $4,775,000 | $129,054 | $0 | 0.00% |
| Other | 3 | $95,000 | $31,667 | $0 | 0.00% |
For 2023, West Central Bank's most frequently cited loan purpose was Home Purchase, with 100 originations. The 2nd most popular reason was Refi, with 37 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 140 | $19,250,000 | $137,500 | $0 | 0.00% |
For 2023, West Central Bank's most frequently cited loan duration was Other, with 140 originations.
Loan Sizing
2023 saw West Central Bank place emphasis on $100,000 or less loans with 80 originations, totaling $4,530,000 in origination value.
Applicant Income
West Central Bank lent most frequently to those with incomes in the $50k or less range, with 33 originations. The second most popular income band? $50k-75k, with 30 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 140 | $19,250,000 | $137,500 | $0 | 0.00% |
West Central Bank lent most frequently to those with DTI ratios of Exempt%, with 140 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.97%
West Central Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination96.43%
West Central Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 140 | $19,250,000 | $137,500 |