Flanagan State Bank Mortgage Rates, Fees & Info

Flanagan, IL

LEI: 2549008LUH7QKMXQ8N53

Tax ID: 37-0276830

5 stars - Updated: 6/9/24 - out of 5 stars, based on 33 reviews

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

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Mortgage Data

Review & Overview

Flanagan State Bank is a smaller bank specializing in Home Purchase loans. Flanagan State Bank has a high proportion of conventional loans. They have a a high proportion of FHA loans. Their top markets by origination volume include: Chicago, Bozeman, Poplar Bluff, Reading, and Omaha among others. We have data for 102 markets. (Some data included below & more in-depth data is available with an active subscription.)

Flanagan State Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Flanagan State Bank is typically an average 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 relatively high 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.88% 6/9/24
30 Year Conventional Refi 6.58% 6/9/24
30 Year Cash-out Refi 6.78% 6/9/24
30 Year FHA Purchase 7.65% 6/9/24
30 Year FHA Refi 7.27% 6/9/24
30 Year VA Purchase 6.42% 6/9/24
30 Year VA Refi 6.27% 6/9/24
30 Year USDA Purchase 7.09% 6/9/24
30 Year USDA Refi 6.09% 6/9/24
15 Year Conventional Purchase 6.30% 6/9/24
15 Year Conventional Refi 6.16% 6/9/24
15 Year Cash-out Refi 6.16% 6/9/24
15 Year FHA Purchase 7.27% 6/9/24
15 Year FHA Refi 8.21% 6/9/24
15 Year VA Purchase 6.78% 6/9/24
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.

Flanagan State Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Flanagan State Bank. 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

1,074

Origination Dollar Volume (All Markets)

$192,290,000
Show all (10) awards

Relative Rate

Flanagan State Bank's average 30 year fixed mortgage rate was 6.77%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.29%.

Relative Fees (Closing Costs)

Flanagan State Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $6,890.

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 $9,089.

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
Outside of Metro Areas 265 $38,725,000 $146,132 $6,635 6.75%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 63 $13,215,000 $209,762 $7,185 7.17%
Bozeman, MT (FHA|USDA|VA) 21 $10,155,000 $483,571 $7,407 6.92%
Poplar Bluff, MO (FHA|USDA|VA) 69 $9,125,000 $132,246 $7,161 6.48%
READING, PA (FHA|USDA|VA) 47 $8,005,000 $170,319 $9,827 6.58%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 36 $7,890,000 $219,167 $6,113 6.95%
PEORIA, IL (FHA|USDA|VA) 57 $7,235,000 $126,930 $3,712 7.26%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 46 $7,150,000 $155,435 $6,745 7.02%
BLOOMINGTON, IL (FHA|USDA|VA) 38 $6,720,000 $176,842 $3,144 7.45%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 38 $6,570,000 $172,895 $6,684 6.83%
Rock Springs, WY (FHA|USDA|VA) 19 $6,005,000 $316,053 $9,449 6.56%
KANKAKEE, IL (FHA|USDA|VA) 28 $4,910,000 $175,357 $6,855 6.81%
Bedford, IN (FHA|USDA|VA) 32 $4,680,000 $146,250 $5,107 6.57%
Sikeston, MO (FHA|USDA|VA) 30 $3,980,000 $132,667 $7,060 6.55%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 24 $3,810,000 $158,750 $6,001 7.19%
Durango, CO (FHA|USDA|VA) 12 $3,740,000 $311,667 $6,286 6.63%
SIOUX FALLS, SD (FHA|USDA|VA) 9 $2,565,000 $285,000 $9,805 6.53%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 5 $2,555,000 $511,000 $10,265 7.05%
Pontiac, IL (FHA|USDA|VA) 13 $2,465,000 $189,615 $4,517 7.22%
Spencer, IA (FHA|USDA|VA) 14 $1,950,000 $139,286 $7,437 6.33%
KANSAS CITY, MO-KS (FHA|USDA|VA) 8 $1,830,000 $228,750 $7,266 7.19%
DECATUR, IL (FHA|USDA|VA) 2 $1,770,000 $885,000 $0 8.18%
CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 7 $1,745,000 $249,286 $9,421 6.70%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $1,715,000 $571,667 $7,682 7.73%
Kennett, MO (FHA|USDA|VA) 17 $1,635,000 $96,176 $6,338 6.56%
Maryville, MO (FHA|USDA|VA) 10 $1,520,000 $152,000 $5,957 7.20%
GRAND JUNCTION, CO (FHA|USDA|VA) 4 $1,490,000 $372,500 $5,820 7.00%
Macomb, IL (FHA|USDA|VA) 12 $1,420,000 $118,333 $4,640 6.97%
Storm Lake, IA (FHA|USDA|VA) 10 $1,340,000 $134,000 $7,382 6.54%
Evanston, WY (FHA|USDA|VA) 3 $1,235,000 $411,667 $6,036 7.08%
Ottawa, IL (FHA|USDA|VA) 9 $1,095,000 $121,667 $5,906 6.88%
Helena, MT (FHA|USDA|VA) 4 $1,020,000 $255,000 $6,245 6.75%
Spirit Lake, IA (FHA|USDA|VA) 4 $960,000 $240,000 $7,324 6.63%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $800,000 $400,000 $6,858 6.75%
Muscatine, IA (FHA|USDA|VA) 4 $750,000 $187,500 $6,801 7.19%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 3 $695,000 $231,667 $4,943 7.25%
Farmington, MO (FHA|USDA|VA) 3 $675,000 $225,000 $11,623 6.58%
IDAHO FALLS, ID (FHA|USDA|VA) 1 $625,000 $625,000 $8,623 7.88%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $585,000 $585,000 $18,443 6.25%
FARMINGTON, NM (FHA|USDA|VA) 3 $565,000 $188,333 $4,649 7.08%
Dixon, IL (FHA|USDA|VA) 5 $565,000 $113,000 $5,297 7.00%
Frankfort, IN (FHA|USDA|VA) 3 $505,000 $168,333 $5,358 7.38%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $500,000 $250,000 $10,561 7.19%
Sterling, IL (FHA|USDA|VA) 5 $485,000 $97,000 $4,846 6.68%
Mason City, IA (FHA|USDA|VA) 4 $480,000 $120,000 $7,570 7.13%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $480,000 $240,000 $7,488 6.81%
SPRINGFIELD, MO (FHA|USDA|VA) 2 $460,000 $230,000 $3,435 7.44%
PUEBLO, CO (FHA|USDA|VA) 2 $460,000 $230,000 $5,555 6.63%
Pottsville, PA (FHA|USDA|VA) 4 $460,000 $115,000 $7,557 6.97%
COLUMBIA, MO (FHA|USDA|VA) 2 $450,000 $225,000 $4,465 7.31%
BISMARCK, ND (FHA|USDA|VA) 1 $445,000 $445,000 $14,991 6.25%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $445,000 $445,000 $4,301 6.63%
WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 5 $395,000 $79,000 $5,072 6.40%
GREELEY, CO (FHA|USDA|VA) 1 $395,000 $395,000 $3,624 7.00%
Clinton, IA (FHA|USDA|VA) 2 $380,000 $190,000 $10,422 6.13%
Rochelle, IL (FHA|USDA|VA) 3 $365,000 $121,667 $6,215 6.63%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $365,000 $365,000 $3,875 5.63%
Paragould, AR (FHA|USDA|VA) 2 $360,000 $180,000 $11,538 6.81%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 2 $350,000 $175,000 $8,723 6.94%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $325,000 $325,000 $4,854 8.00%
Oxford, MS (FHA|USDA|VA) 1 $325,000 $325,000 $0 6.99%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $305,000 $305,000 $13,297 6.88%
Washington, IN (FHA|USDA|VA) 2 $300,000 $150,000 $4,280 6.25%
Vermillion, SD (FHA|USDA|VA) 1 $295,000 $295,000 $12,410 7.13%
BILLINGS, MT (FHA|USDA|VA) 1 $285,000 $285,000 $8,919 6.13%
Lincoln, IL (FHA|USDA|VA) 3 $285,000 $95,000 $4,609 6.71%
RAPID CITY, SD (FHA|USDA|VA) 1 $285,000 $285,000 $9,977 7.00%
Alexandria, MN (FHA|USDA|VA) 1 $275,000 $275,000 $3,170 6.75%
MORRISTOWN, TN (FHA|USDA|VA) 1 $265,000 $265,000 $1,124 6.75%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $265,000 $265,000 $9,719 6.88%
Blytheville, AR (FHA|USDA|VA) 1 $265,000 $265,000 $17,104 5.75%
Minot, ND (FHA|USDA|VA) 1 $255,000 $255,000 $10,781 6.63%
JOPLIN, MO (FHA|USDA|VA) 1 $245,000 $245,000 $3,685 7.13%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $245,000 $245,000 $9,615 6.25%
ROCHESTER, MN (FHA|USDA|VA) 1 $245,000 $245,000 $4,696 6.63%
LIMA, OH (FHA|USDA|VA) 2 $240,000 $120,000 $2,364 7.19%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $235,000 $235,000 $6,399 7.00%
Butte-Silver Bow, MT (FHA|USDA|VA) 1 $235,000 $235,000 $12,884 6.63%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $235,000 $235,000 $13,579 6.25%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $225,000 $225,000 $8,260 7.00%
ST. CLOUD, MN (FHA|USDA|VA) 1 $225,000 $225,000 $9,439 6.38%
Marquette, MI (FHA|USDA|VA) 1 $225,000 $225,000 $8,316 6.63%
Galesburg, IL (FHA|USDA|VA) 2 $210,000 $105,000 $6,177 6.44%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $205,000 $205,000 $6,926 6.50%
Mitchell, SD (FHA|USDA|VA) 1 $205,000 $205,000 $7,382 7.00%
Mayfield, KY (FHA|USDA|VA) 1 $195,000 $195,000 $3,458 6.75%
Freeport, IL (FHA|USDA|VA) 1 $175,000 $175,000 $10,760 7.13%
JEFFERSON CITY, MO (FHA|USDA|VA) 1 $175,000 $175,000 $3,836 6.50%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $175,000 $175,000 $8,031 6.63%
BOULDER, CO (FHA|USDA|VA) 1 $165,000 $165,000 $2,886 7.38%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $165,000 $165,000 $12,700 5.25%
Taylorville, IL (FHA|USDA|VA) 2 $160,000 $80,000 $3,847 6.44%
Fort Dodge, IA (FHA|USDA|VA) 1 $155,000 $155,000 $10,355 7.13%
Crawfordsville, IN (FHA|USDA|VA) 1 $145,000 $145,000 $7,064 7.63%
BLOOMINGTON, IN (FHA|USDA|VA) 1 $145,000 $145,000 $5,871 6.13%
Mexico, MO (FHA|USDA|VA) 1 $145,000 $145,000 $10,325 7.63%
FORT SMITH, AR-OK (FHA|USDA|VA) 1 $135,000 $135,000 $4,327 8.38%
SPRINGFIELD, IL (FHA|USDA|VA) 1 $105,000 $105,000 $5,466 7.13%
Brookings, SD (FHA|USDA|VA) 1 $95,000 $95,000 $3,931 5.38%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $85,000 $85,000 $1,412 7.63%
Jasper, IN (FHA|USDA|VA) 1 $85,000 $85,000 $4,587 6.63%
CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $15,000 $15,000 $2,075 8.95%
Flanagan State Bank's top markets include Chicago, Bozeman, Poplar Bluff, Reading, and Omaha among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Montana (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Similar Lenders

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

    COLORAMO
    Similarity Rank: 50
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    LEBANON
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    SIOUX FALLS
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 428 $88,000,000 $205,607 $4,936 7.12%
    FHA 363 $63,405,000 $174,669 $8,797 6.65%
    USDA 232 $28,660,000 $123,534 $6,420 6.70%
    VA 51 $12,225,000 $239,706 $5,581 6.65%

    For 2023, Flanagan State Bank's most frequently originated type of loan was Conventional, with 428 originations. Their 2nd most popular type was FHA, with 363 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 977 $173,595,000 $177,682 $6,817 6.80%
    Cash Out Refi 74 $12,020,000 $162,432 $4,887 7.29%
    Refi 21 $6,535,000 $311,190 $6,361 7.08%
    Home Improvement 1 $65,000 $65,000 $1,611 9.00%
    Other 1 $75,000 $75,000 $1,450 9.25%

    For 2023, Flanagan State Bank's most frequently cited loan purpose was Home Purchase, with 977 originations. The 2nd most popular reason was Cash Out Refi, with 74 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 971 $171,895,000 $177,029 $6,890 6.77%
    Other 59 $9,535,000 $161,610 $2,324 8.09%
    15 Year 22 $3,930,000 $178,636 $4,305 6.37%
    5 Year 14 $5,740,000 $410,000 $7,030 7.75%
    20 Year 6 $930,000 $155,000 $5,165 6.60%
    10 Year 1 $45,000 $45,000 $1,845 6.25%
    1 Year 1 $215,000 $215,000 $0 7.95%

    For 2023, Flanagan State Bank's most frequently cited loan duration was 30 Year, with 971 originations. The 2nd most popular length was Other, with 59 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 200 $25,510,000 $127,550
    $3k-4k 200 $34,430,000 $172,150
    $5k+ 196 $49,320,000 $251,633
    $1k-2k 166 $27,430,000 $165,241
    $4k-5k 133 $23,575,000 $177,256
    $<1k 132 $23,320,000 $176,667

    Flanagan State Bank's average total fees were $6,890, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 200 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 583 $104,215,000 $178,756
    7-8% 351 $65,985,000 $187,991
    5-6% 98 $16,960,000 $173,061
    Over 8% 41 $4,885,000 $119,146

    During 2023, Flanagan State Bank's average interest rate for loans was 6.77%, while their most frequently originated rate bucket for loans was 6-7%, with 583 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 489 $71,225,000 $145,654 $6,762 6.72%
    $100,000 or less 266 $18,850,000 $70,865 $4,457 7.02%
    $200k-400k 254 $66,730,000 $262,717 $7,714 6.87%
    $400k-600k 53 $24,945,000 $470,660 $10,794 6.84%
    $600k-1MM 8 $5,690,000 $711,250 $7,318 7.32%
    $1MM+ 4 $4,850,000 $1,212,500 $16,495 7.61%

    2023 saw Flanagan State Bank place emphasis on $100k-200k loans with 489 originations, totaling $71,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 302 $31,950,000 $105,795 $5,904 6.67%
    $50k-75k 297 $43,615,000 $146,852 $6,554 6.80%
    $75k-100k 190 $36,410,000 $191,632 $7,013 6.82%
    $100k-150k 169 $42,885,000 $253,757 $7,705 6.96%
    $150k-250k 74 $22,180,000 $299,730 $7,218 7.27%
    $250k+ 32 $11,760,000 $367,500 $7,138 7.38%

    Flanagan State Bank lent most frequently to those with incomes in the $50k or less range, with 302 originations. The second most popular income band? $50k-75k, with 297 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 218 $34,470,000 $158,119 $6,398 6.82%
    20-30% 185 $27,315,000 $147,649 $5,590 6.86%
    50-60% 82 $16,410,000 $200,122 $8,590 6.70%
    <20% 59 $8,195,000 $138,898 $4,105 7.11%
    37% 46 $8,450,000 $183,696 $6,972 6.70%
    40% 43 $7,085,000 $164,767 $6,284 6.73%
    43% 43 $8,265,000 $192,209 $6,743 6.92%
    44% 42 $7,720,000 $183,810 $7,221 6.74%
    36% 38 $7,710,000 $202,895 $7,140 6.98%
    41% 36 $8,170,000 $226,944 $7,563 6.78%
    38% 36 $5,920,000 $164,444 $6,508 6.85%
    39% 36 $6,040,000 $167,778 $7,264 6.80%
    48% 35 $6,755,000 $193,000 $7,950 6.61%
    42% 32 $7,430,000 $232,188 $6,434 6.83%
    45% 32 $7,010,000 $219,063 $8,426 6.77%
    46% 32 $7,440,000 $232,500 $7,807 6.80%
    49% 29 $5,165,000 $178,103 $7,321 6.85%
    47% 29 $5,965,000 $205,690 $6,294 7.07%
    >60% 4 $1,940,000 $485,000 $7,471 7.28%

    Flanagan State Bank lent most frequently to those with DTI ratios of 30-36%, with 218 originations. The next most common DTI ratio? 20-30%, with 185 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,008 $179,320,000 $177,897 $6,665 6.85%
    Black 34 $4,930,000 $145,000 $7,623 6.54%
    Not provided 18 $3,840,000 $213,333 $5,947 6.91%
    Not applicable 7 $2,895,000 $413,571 $0 7.36%
    American Indian 4 $710,000 $177,500 $3,203 7.25%
    Asian 3 $595,000 $198,333 $5,830 6.71%

    Approval Rates

    Total approvals of all applications
    89.76%

    Flanagan State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.82%

    Flanagan State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,074 $192,290,000 $179,041

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,074 $192,290,000 $179,041

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $4,430,000 $158,214 $4,305 6.84%
    40-60% 40 $6,720,000 $168,000 $4,592 7.02%
    60-80% 146 $32,070,000 $219,658 $5,637 6.99%
    80-100% 824 $142,710,000 $173,192 $7,058 6.77%
    Over 100% 18 $4,740,000 $263,333 $8,281 6.93%
    Under 20% 18 $1,620,000 $90,000 $1,917 8.55%