Jersey State Bank Mortgage Rates, Fees & Info

JERSEYVILLE, IL

LEI: 254900BLPLW0LXHKFX20

Tax ID: 37-0352550

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Jersey State Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Jersey State Bank has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Branson, Chicago, and Springfield among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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.

    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 6.59% 4/28/24
    30 Year Conventional Refi 6.38% 4/28/24
    30 Year Cash-out Refi 6.71% 4/28/24
    15 Year Conventional Purchase 6.10% 4/28/24
    15 Year Conventional Refi 5.82% 4/28/24
    15 Year Cash-out Refi 5.82% 4/28/24
    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






    Your Estimates

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

    This is not an official calculator from Jersey 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

    118

    Origination Dollar Volume (All Markets)

    $17,320,000

    Awards

    JERSEY STATE BANK 30 Year Conventional Loans gold JERSEY STATE BANK 30 Year Conventional Loans gold
    Show all (2) awards

    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
    ST. LOUIS, MO-IL (FHA|USDA|VA) 102 $15,610,000 $153,039 $2,821 2.79%
    Outside of Metro Areas 12 $1,240,000 $103,333 $2,772 3.41%
    Branson, MO (FHA|USDA|VA) 1 $225,000 $225,000 $2,401 2.13%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $130,000 $65,000 $0 4.13%
    SPRINGFIELD, IL (FHA|USDA|VA) 1 $115,000 $115,000 $2,951 2.88%
    Jersey State Bank's top markets include St. Louis, Branson, Chicago, and Springfield among others.

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

    • 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.

    Town & Country Bank
    Similarity Rank: 328
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 370
    CapGrow Home Mortgage, LLC
    Similarity Rank: 552
    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 627
    JERSEY STATE BANK
    Similarity Rank: 725
    HNB National Bank
    Similarity Rank: 910
    First National Bank of Waterloo
    Similarity Rank: 938
    VANTAGE Credit Union
    Similarity Rank: 1010
    Providence Bank
    Similarity Rank: 1102
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1260

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 118 $17,320,000 $146,780 $2,815 2.87%

    For 2021, Jersey State Bank's most frequently originated type of loan was Conventional, with 118 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 54 $7,650,000 $141,667 $2,645 3.06%
    Refi 33 $4,655,000 $141,061 $2,321 2.66%
    Cash Out Refi 29 $4,915,000 $169,483 $3,691 2.72%
    Home Improvement 1 $25,000 $25,000 $0 3.75%
    Other 1 $75,000 $75,000 $1,838 3.00%

    For 2021, Jersey State Bank's most frequently cited loan purpose was Home Purchase, with 54 originations. The 2nd most popular reason was Refi, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 47 $8,175,000 $173,936 $3,286 2.84%
    15 Year 37 $5,185,000 $140,135 $2,207 2.13%
    5 Year 15 $1,235,000 $82,333 $0 4.26%
    20 Year 10 $1,660,000 $166,000 $3,465 2.65%
    Other 6 $780,000 $130,000 $1,640 4.67%
    10 Year 2 $260,000 $130,000 $2,105 2.13%
    3 Year 1 $25,000 $25,000 $0 3.75%

    For 2021, Jersey State Bank's most frequently cited loan duration was 30 Year, with 47 originations. The 2nd most popular length was 15 Year, with 37 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 37 $4,185,000 $113,108
    $1k-2k 31 $4,825,000 $155,645
    $2k-3k 17 $3,155,000 $185,588
    $3k-4k 7 $1,585,000 $226,429
    $5k+ 5 $1,605,000 $321,000
    $4k-5k 3 $555,000 $185,000

    Jersey State Bank's average total fees were $3,286, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 37 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 47 $7,275,000 $154,787
    2.5-3% 47 $7,705,000 $163,936
    3-4% 11 $1,205,000 $109,545
    4-5% 11 $1,105,000 $100,455
    5-6% 2 $30,000 $15,000

    During 2021, Jersey State Bank's average interest rate for loans was 2.84%, while their most frequently originated rate bucket for loans was <2.5%, with 47 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 51 $7,285,000 $142,843 $2,635 2.57%
    $100,000 or less 39 $2,435,000 $62,436 $1,814 3.30%
    $200k-400k 25 $6,175,000 $247,000 $3,912 2.83%
    $400k-600k 3 $1,425,000 $475,000 $5,690 2.63%

    2021 saw Jersey State Bank place emphasis on $100k-200k loans with 51 originations, totaling $7,285,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 28 $2,880,000 $102,857 $2,095 2.83%
    $100k-150k 27 $4,665,000 $172,778 $3,055 2.77%
    $75k-100k 18 $2,890,000 $160,556 $3,349 2.65%
    $50k or less 16 $1,760,000 $110,000 $2,249 2.98%
    $150k-250k 15 $3,455,000 $230,333 $3,147 2.38%
    $250k+ 5 $1,215,000 $243,000 $4,644 3.25%

    Jersey State Bank lent most frequently to those with incomes in the $50k-75k range, with 28 originations. The second most popular income band? $100k-150k, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 44 $6,510,000 $147,955 $2,678 2.64%
    <20% 23 $3,715,000 $161,522 $3,150 2.48%
    30-36% 15 $2,065,000 $137,667 $2,438 2.89%
    39% 4 $710,000 $177,500 $4,020 2.72%
    36% 3 $465,000 $155,000 $2,216 2.25%
    45% 2 $460,000 $230,000 $3,465 2.88%
    44% 2 $330,000 $165,000 $2,598 2.63%
    46% 2 $410,000 $205,000 $3,386 2.88%
    37% 2 $100,000 $50,000 $1,556 3.75%
    38% 2 $400,000 $200,000 $3,830 2.06%
    50-60% 2 $370,000 $185,000 $0 4.50%
    >60% 1 $235,000 $235,000 $0 3.85%
    40% 1 $265,000 $265,000 $2,967 2.88%
    42% 1 $375,000 $375,000 $1,858 4.00%
    43% 1 $125,000 $125,000 $3,533 2.75%
    47% 1 $75,000 $75,000 $1,838 3.00%
    48% 1 $165,000 $165,000 $1,897 4.75%

    Jersey State Bank lent most frequently to those with DTI ratios of 20-30%, with 44 originations. The next most common DTI ratio? <20%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 109 $16,865,000 $154,725 $2,815 2.77%
    Not applicable 9 $455,000 $50,556 $0 4.13%

    Approval Rates

    Total approvals of all applications
    97.28%

    Jersey State 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
    78.81%

    Jersey State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 118 $17,320,000 $146,780

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    118 $17,320,000 $146,780

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $265,000 $37,857 $940 4.18%
    40-60% 18 $2,500,000 $138,889 $2,012 2.91%
    60-80% 54 $8,930,000 $165,370 $3,211 2.78%
    80-100% 39 $5,625,000 $144,231 $2,746 2.74%