West Central Bank Mortgage Rates, Fees & Info
Ashland, ILLEI: 25490076YOMAEM6W0N66
Tax ID: 37-0532580
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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. They have a low ratio of USDA loans. Their top markets by origination volume include: Springfield, Lincoln, Jacksonville, Macomb, and St. Louis among others. We have data for 12 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
179Origination Dollar Volume (All Markets)
$22,725,000Top 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) | 67 | $12,295,000 | $183,507 | $0 | 0.00% |
| Outside of Metro Areas | 86 | $7,180,000 | $83,488 | $0 | 0.00% |
| Lincoln, IL (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $0 | 0.00% |
| Jacksonville, IL (FHA|USDA|VA) | 11 | $735,000 | $66,818 | $0 | 0.00% |
| Macomb, IL (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $0 | 0.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| Quincy, IL-MO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| MORGANTOWN, WV (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| DECATUR, IL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 175 | $22,275,000 | $127,286 | $0 | 0.00% |
| USDA | 4 | $450,000 | $112,500 | $0 | 0.00% |
For 2022, West Central Bank's most frequently originated type of loan was Conventional, with 175 originations. Their 2nd most popular type was USDA, with 4 originations.
Loan Reason
For 2022, West Central Bank's most frequently cited loan purpose was Home Purchase, with 124 originations. The 2nd most popular reason was Refi, with 51 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 179 | $22,725,000 | $126,955 | $0 | 0.00% |
For 2022, West Central Bank's most frequently cited loan duration was Other, with 179 originations.
Loan Sizing
2022 saw West Central Bank place emphasis on $100,000 or less loans with 101 originations, totaling $5,785,000 in origination value.
Applicant Income
West Central Bank lent most frequently to those with incomes in the $50k or less range, with 61 originations. The second most popular income band? $75k-100k, with 29 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 179 | $22,725,000 | $126,955 | $0 | 0.00% |
West Central Bank lent most frequently to those with DTI ratios of Exempt%, with 179 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.81%
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 origination97.77%
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 | 179 | $22,725,000 | $126,955 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| West Coast Servicing, Inc. | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |