Byron Bank Mortgage Rates, Fees & Info

Byron, IL

LEI: 254900KE9OJJUH139Q12

Tax ID: 36-1694689

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

    Byron Bank is a smaller bank specializing in Home Purchase loans. Byron Bank has a high proportion of conventional loans. Their top markets by origination volume include: Rockford, Rochelle, Chicago, Miami, and Milwaukee among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Byron 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. Byron 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 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 7.06% 11/21/24
    30 Year Conventional Refi 6.39% 11/21/24
    30 Year Cash-out Refi 6.83% 11/21/24
    15 Year Conventional Purchase 6.43% 11/21/24
    15 Year Conventional Refi 5.86% 11/21/24
    15 Year Cash-out Refi 5.86% 11/21/24
    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.

    Byron Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Byron 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

    169

    Origination Dollar Volume (All Markets)

    $34,185,000

    Awards

    Byron Bank 30 Year Conventional Loans silver
    Show all (1) 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
    ROCKFORD, IL (FHA|USDA|VA) 105 $21,265,000 $202,524 $2,571 5.14%
    Rochelle, IL (FHA|USDA|VA) 37 $5,385,000 $145,541 $2,332 5.39%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 10 $3,140,000 $314,000 $4,086 5.21%
    Outside of Metro Areas 5 $1,245,000 $249,000 $2,170 4.44%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $545,000 $545,000 $6,891 5.80%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $505,000 $505,000 $6,941 5.84%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $445,000 $445,000 $6,295 7.25%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $395,000 $395,000 $4,248 4.85%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $355,000 $355,000 $2,972 4.50%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 2 $260,000 $130,000 $0 5.22%
    Freeport, IL (FHA|USDA|VA) 2 $180,000 $90,000 $2,241 4.73%
    Albertville, AL (FHA|USDA|VA) 1 $165,000 $165,000 $3,662 5.28%
    Dixon, IL (FHA|USDA|VA) 1 $155,000 $155,000 $0 4.64%
    McMinnville, TN (FHA|USDA|VA) 1 $145,000 $145,000 $2,423 3.50%
    Byron Bank's top markets include Rockford, Rochelle, Chicago, Miami, and Milwaukee among others.

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

    • Similar Lenders

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

    First Savings Bank of Hegewisch
    Similarity Rank: 64
    Rock Valley Credit Union
    Similarity Rank: 91
    First Community Credit Union
    Similarity Rank: 100
    Liberty Bank for Savings
    Similarity Rank: 116
    Central Bank Illinois
    Similarity Rank: 116
    FINANCIAL PLUS
    Similarity Rank: 198
    The First National Bank and Trust Company
    Similarity Rank: 357
    Blackhawk Community Credit Union
    Similarity Rank: 360
    Stillman Bank
    Similarity Rank: 434
    DuPage Credit Union
    Similarity Rank: 579

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 169 $34,185,000 $202,278 $2,723 5.18%

    For 2022, Byron Bank's most frequently originated type of loan was Conventional, with 169 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 124 $24,380,000 $196,613 $3,113 5.47%
    Refi 19 $6,155,000 $323,947 $2,125 3.91%
    Cash Out Refi 17 $2,585,000 $152,059 $1,583 4.44%
    Other 6 $800,000 $133,333 $1,510 4.84%
    Home Improvement 3 $265,000 $88,333 $0 5.82%

    For 2022, Byron Bank's most frequently cited loan purpose was Home Purchase, with 124 originations. The 2nd most popular reason was Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 83 $16,495,000 $198,735 $2,985 5.40%
    Other 37 $7,435,000 $200,946 $0 5.51%
    15 Year 27 $4,675,000 $173,148 $2,189 3.88%
    20 Year 18 $5,130,000 $285,000 $2,124 5.52%
    10 Year 3 $425,000 $141,667 $1,514 3.84%
    1 Year 1 $25,000 $25,000 $0 7.50%

    For 2022, Byron Bank's most frequently cited loan duration was 30 Year, with 83 originations. The 2nd most popular length was Other, with 37 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 101 $18,125,000 $179,455
    $1k-2k 7 $1,285,000 $183,571
    $2k-3k 5 $1,075,000 $215,000
    $3k-4k 2 $590,000 $295,000
    $4k-5k 2 $530,000 $265,000
    $5k+ 1 $505,000 $505,000

    Byron Bank's average total fees were $2,985, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 101 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 54 $13,700,000 $253,704
    3-4% 33 $6,575,000 $199,242
    4-5% 29 $5,735,000 $197,759
    6-7% 27 $4,805,000 $177,963
    7-8% 12 $1,290,000 $107,500
    2.5-3% 10 $1,610,000 $161,000
    Over 8% 3 $325,000 $108,333
    <2.5% 1 $145,000 $145,000

    During 2022, Byron Bank's average interest rate for loans was 5.40%, while their most frequently originated rate bucket for loans was 5-6%, with 54 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 60 $8,370,000 $139,500 $2,315 5.09%
    $100,000 or less 55 $3,735,000 $67,909 $2,232 5.42%
    $200k-400k 39 $10,965,000 $281,154 $3,238 4.88%
    $400k-600k 7 $3,495,000 $499,286 $5,173 5.80%
    $600k-1MM 6 $4,420,000 $736,667 $2,835 5.19%
    $1MM+ 2 $3,200,000 $1,600,000 $0 4.51%

    2022 saw Byron Bank place emphasis on $100k-200k loans with 60 originations, totaling $8,370,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 43 $7,975,000 $185,465 $2,872 4.99%
    $75k-100k 26 $3,360,000 $129,231 $2,643 5.04%
    $50k-75k 21 $2,225,000 $105,952 $2,123 5.57%
    $150k-250k 19 $5,155,000 $271,316 $3,112 4.93%
    $50k or less 14 $1,420,000 $101,429 $2,532 4.56%
    $250k+ 12 $3,710,000 $309,167 $3,101 5.48%

    Byron Bank lent most frequently to those with incomes in the $100k-150k range, with 43 originations. The second most popular income band? $75k-100k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 42 $6,710,000 $159,762 $2,642 4.98%
    30-36% 25 $4,225,000 $169,000 $2,618 5.01%
    <20% 19 $3,455,000 $181,842 $2,411 4.64%
    41% 7 $865,000 $123,571 $2,339 5.49%
    36% 7 $1,585,000 $226,429 $3,833 6.04%
    43% 7 $1,065,000 $152,143 $3,222 5.99%
    42% 6 $1,290,000 $215,000 $2,748 6.27%
    38% 5 $615,000 $123,000 $1,969 5.08%
    37% 4 $740,000 $185,000 $2,264 5.11%
    46% 3 $675,000 $225,000 $2,962 3.35%
    44% 2 $830,000 $415,000 $6,638 5.61%
    40% 2 $270,000 $135,000 $2,423 4.75%
    50-60% 2 $670,000 $335,000 $3,339 5.04%
    39% 2 $330,000 $165,000 $1,822 3.49%
    47% 1 $205,000 $205,000 $2,473 5.09%
    48% 1 $235,000 $235,000 $2,821 3.18%
    45% 1 $125,000 $125,000 $2,485 6.00%

    Byron Bank lent most frequently to those with DTI ratios of 20-30%, with 42 originations. The next most common DTI ratio? 30-36%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 128 $22,430,000 $175,234 $2,697 5.06%
    Not applicable 33 $10,045,000 $304,394 $0 5.61%
    Not provided 6 $1,100,000 $183,333 $2,620 5.09%
    Black 1 $445,000 $445,000 $6,295 7.25%
    Vietnamese 1 $165,000 $165,000 $0 4.19%

    Approval Rates

    Total approvals of all applications
    90.72%

    Byron Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.11%

    Byron Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 169 $34,185,000 $202,278

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    169 $34,185,000 $202,278

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $810,000 $101,250 $1,818 4.59%
    40-60% 25 $5,565,000 $222,600 $2,097 4.74%
    60-80% 87 $18,465,000 $212,241 $2,799 5.28%
    80-100% 49 $9,345,000 $190,714 $3,113 5.32%