Pacific Global Bank Mortgage Rates, Fees & Info

CHICAGO, IL

LEI: 254900B62P3ICL40GF98

Tax ID: 36-3958403

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Pacific Global Bank is a smaller bank specializing in Home Purchase loans. Pacific Global Bank has a high proportion of conventional loans. Their top (well, only) market is Chicago.

    Pacific Global Bank 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. Pacific Global 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 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.

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    Originations

    216

    Origination Dollar Volume (All Markets)

    $40,470,000

    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
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 216 $40,470,000 $187,361 $6,290 5.00%
    Pacific Global Bank's top markets include and Chicago among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)

    • Similar Lenders

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

    UNITED
    Similarity Rank: 28
    Liberty Bank for Savings
    Similarity Rank: 104
    PACIFIC GLOBAL BANK
    Similarity Rank: 408
    The Equitable Bank, S.S.B.
    Similarity Rank: 533
    TECH Credit Union
    Similarity Rank: 759
    DuPage Credit Union
    Similarity Rank: 852
    First Financial Credit Union
    Similarity Rank: 870
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 921
    Community State Bank
    Similarity Rank: 1032
    Landmark Credit Union
    Similarity Rank: 1056

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 213 $40,135,000 $188,427 $6,290 4.99%
    HELOC 3 $335,000 $111,667 n/a 6.17%

    For 2018, Pacific Global Bank's most frequently originated type of loan was Conventional, with 213 originations. Their 2nd most popular type was HELOC, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 197 $37,505,000 $190,381 $6,435 5.00%
    Cash Out Refi 13 $2,065,000 $158,846 $3,280 5.10%
    Refi 4 $750,000 $187,500 $3,759 4.63%
    Other 2 $150,000 $75,000 $1,393 4.94%

    For 2018, Pacific Global Bank's most frequently cited loan purpose was Home Purchase, with 197 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 147 $27,125,000 $184,524 $6,363 4.85%
    15 Year 26 $4,560,000 $175,385 $4,832 5.14%
    Other 15 $2,725,000 $181,667 $1,393 5.63%
    20 Year 13 $3,805,000 $292,692 $0 5.50%
    10 Year 12 $1,920,000 $160,000 $0 4.97%
    3 Year 2 $180,000 $90,000 $0 6.25%
    5 Year 1 $155,000 $155,000 $0 5.00%

    For 2018, Pacific Global Bank's most frequently cited loan duration was 30 Year, with 147 originations. The 2nd most popular length was 15 Year, with 26 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 90 $14,000,000 $155,556
    $3k-4k 27 $6,795,000 $251,667
    $1k-2k 20 $1,730,000 $86,500
    $4k-5k 10 $3,420,000 $342,000
    $5k+ 3 $1,565,000 $521,667
    $<1k 2 $200,000 $100,000

    Pacific Global Bank's average total fees were $6,363, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 90 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 135 $22,935,000 $169,889
    5-6% 73 $16,725,000 $229,110
    6-7% 6 $610,000 $101,667
    3-4% 2 $200,000 $100,000

    During 2018, Pacific Global Bank's average interest rate for loans was 4.85%, while their most frequently originated rate bucket for loans was 4-5%, with 135 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 119 $17,285,000 $145,252 $5,912 5.00%
    $200k-400k 64 $17,400,000 $271,875 $7,212 5.00%
    $100,000 or less 26 $2,050,000 $78,846 $5,084 4.95%
    $400k-600k 6 $2,810,000 $468,333 $9,590 5.19%
    $600k-1MM 1 $925,000 $925,000 $0 5.63%

    2018 saw Pacific Global Bank place emphasis on $100k-200k loans with 119 originations, totaling $17,285,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 71 $10,715,000 $150,915 $5,943 4.95%
    $75k-100k 44 $8,710,000 $197,955 $6,426 5.02%
    $50k or less 36 $4,260,000 $118,333 $5,737 4.88%
    $100k-150k 35 $8,045,000 $229,857 $7,162 5.02%
    $150k-250k 15 $5,485,000 $365,667 $8,425 5.13%
    $250k+ 5 $1,145,000 $229,000 $5,430 5.70%

    Pacific Global Bank lent most frequently to those with incomes in the $50k-75k range, with 71 originations. The second most popular income band? $75k-100k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 53 $8,915,000 $168,208 $6,135 4.84%
    30-36% 38 $7,960,000 $209,474 $6,635 4.93%
    38% 12 $1,980,000 $165,000 $6,033 4.89%
    <20% 10 $1,750,000 $175,000 $6,017 5.10%
    37% 7 $1,275,000 $182,143 $6,551 4.82%
    45% 6 $1,000,000 $166,667 $6,292 4.79%
    41% 5 $1,095,000 $219,000 $6,587 4.80%
    42% 4 $700,000 $175,000 $6,243 4.78%
    36% 4 $1,060,000 $265,000 $7,023 4.47%
    40% 3 $525,000 $175,000 $5,556 4.67%
    43% 2 $220,000 $110,000 $6,186 5.00%
    47% 2 $390,000 $195,000 $7,576 4.88%
    39% 1 $305,000 $305,000 $7,638 4.75%
    49% 1 $75,000 $75,000 $6,569 4.38%
    >60% 1 $125,000 $125,000 $3,443 4.63%
    46% 1 $115,000 $115,000 $5,326 3.88%
    44% 1 $85,000 $85,000 $4,981 4.88%

    Pacific Global Bank lent most frequently to those with DTI ratios of 20-30%, with 53 originations. The next most common DTI ratio? 30-36%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 205 $38,105,000 $185,878 $6,303 5.00%
    Not applicable 8 $1,820,000 $227,500 $0 5.16%
    White 3 $545,000 $181,667 $5,631 5.00%

    Approval Rates

    Total approvals of all applications
    98.40%

    Pacific Global 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 origination
    87.96%

    Pacific Global Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 216 $40,470,000 $187,361

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $550,000 $275,000
    Single Family (1-4 Units):Site-Built 214 $39,920,000 $186,542

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $1,540,000 $128,333 $5,615 4.94%
    40-60% 91 $15,965,000 $175,440 $6,076 4.95%
    60-80% 101 $20,595,000 $203,911 $6,489 5.05%
    80-100% 8 $1,960,000 $245,000 $7,167 5.11%
    Under 20% 4 $410,000 $102,500 $3,607 5.13%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Pacific Union Financial, LLC VA mortgage Trouble during payment process 15 21.1%
    Pacific Union Financial, LLC VA mortgage Closing on a mortgage 2 2.8%
    Pacific Union Financial, LLC VA mortgage Struggling to pay mortgage 1 1.4%
    Pacific Union Financial, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 2.8%
    Pacific Union Financial, LLC Conventional home mortgage Closing on a mortgage 1 1.4%
    Pacific Union Financial, LLC Conventional home mortgage Struggling to pay mortgage 10 14.1%
    Pacific Union Financial, LLC Conventional home mortgage Trouble during payment process 7 9.9%
    Pacific Union Financial, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 4.2%
    Pacific Union Financial, LLC FHA mortgage Closing on a mortgage 3 4.2%
    Pacific Union Financial, LLC FHA mortgage Problem with a credit reporting company's investigation into an existing problem 1 1.4%
    Pacific Union Financial, LLC FHA mortgage Struggling to pay mortgage 12 16.9%
    Pacific Union Financial, LLC FHA mortgage Trouble during payment process 11 15.5%
    Pacific Union Financial, LLC Other type of mortgage Struggling to pay mortgage 1 1.4%
    Pacific Union Financial, LLC Other type of mortgage Trouble during payment process 1 1.4%
    Pacific Union Financial, LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 1.4%