Jersey State Bank Mortgage Rates, Fees & Info
JERSEYVILLE, ILLEI: 254900BLPLW0LXHKFX20
Tax ID: 37-0352550
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Mortgage Data
Review & Overview
Jersey State Bank is a smaller bank specializing in Home Purchase and Refi loans. Jersey State Bank has a high proportion of conventional loans. Their top two markets are St. Louis and Centralia .Jersey State 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. Jersey State Bank 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.59% | 12/16/24 |
| 30 Year Conventional Refi | 6.38% | 12/16/24 |
| 30 Year Cash-out Refi | 6.71% | 12/16/24 |
| 15 Year Conventional Purchase | 6.10% | 12/16/24 |
| 15 Year Conventional Refi | 5.82% | 12/16/24 |
| 15 Year Cash-out Refi | 5.82% | 12/16/24 |
| 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. | ||
Jersey State Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
59Origination Dollar Volume (All Markets)
$6,625,000Top 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 |
|---|---|---|---|---|---|
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 51 | $5,955,000 | $116,765 | $2,363 | 4.89% |
| Outside of Metro Areas | 7 | $615,000 | $87,857 | $2,004 | 4.73% |
| Centralia, IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,357 | 3.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against JERSEY STATE BANK based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 59 | $6,625,000 | $112,288 | $2,301 | 4.85% |
For 2018, Jersey State Bank's most frequently originated type of loan was Conventional, with 59 originations.
Loan Reason
For 2018, Jersey State Bank's most frequently cited loan purpose was Home Purchase, with 29 originations. The 2nd most popular reason was Refi, with 15 originations.
Loan Duration/Length
For 2018, Jersey State Bank's most frequently cited loan duration was 30 Year, with 25 originations. The 2nd most popular length was Other, with 14 originations.
Origination Fees/Closing Costs
Jersey State Bank's average total fees were $2,851, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 25 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 30 | $4,230,000 | $141,000 |
| 5-6% | 20 | $1,570,000 | $78,500 |
| 3-4% | 9 | $825,000 | $91,667 |
During 2018, Jersey State Bank's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 4-5%, with 30 originations.
Loan Sizing
2018 saw Jersey State Bank place emphasis on $100,000 or less loans with 33 originations, totaling $1,995,000 in origination value.
Applicant Income
Jersey State Bank lent most frequently to those with incomes in the $50k-75k range, with 18 originations. The second most popular income band? $75k-100k, with 16 originations.
Applicant Debt to Income Ratio
Jersey State Bank lent most frequently to those with DTI ratios of 20-30%, with 21 originations. The next most common DTI ratio? <20%, with 11 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 59 | $6,625,000 | $112,288 | $2,301 | 4.85% |
Approval Rates
Total approvals of all applications91.89%
Jersey State Bank has an average approval rate.
Pick Rate
Approvals leading to origination84.75%
Jersey State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 59 | $6,625,000 | $112,288 |