State Bank Of Lincoln Mortgage Rates, Fees & Info

Lincoln, IL

LEI: 254900KWJ3ETYJGMQR60

Tax ID: 37-0533247

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

    State Bank Of Lincoln is a smaller bank specializing in Home Purchase loans. State Bank Of Lincoln has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Lincoln, Champaign, Decatur, Mount Vernon, and St. Louis among others. We have data for 37 markets. (Some data included below & more in-depth data is available with an active subscription.)

    State Bank Of Lincoln has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. State Bank Of Lincoln 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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    Originations

    486

    Origination Dollar Volume (All Markets)

    $51,010,000
    Show all (6) 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
    Outside of Metro Areas 168 $16,950,000 $100,893 $2,692 4.71%
    Lincoln, IL (FHA|USDA|VA) 83 $7,715,000 $92,952 $2,566 4.65%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 48 $5,370,000 $111,875 $2,825 4.74%
    DECATUR, IL (FHA|USDA|VA) 28 $2,940,000 $105,000 $2,532 4.96%
    Mount Vernon, IL (FHA|USDA|VA) 23 $2,485,000 $108,043 $2,356 4.90%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 16 $2,220,000 $138,750 $2,805 4.52%
    Charleston-Mattoon, IL (FHA|USDA|VA) 18 $1,690,000 $93,889 $3,120 4.97%
    PEORIA, IL (FHA|USDA|VA) 15 $1,565,000 $104,333 $3,440 4.72%
    DANVILLE, IL (FHA|USDA|VA) 16 $1,370,000 $85,625 $3,372 4.79%
    Taylorville, IL (FHA|USDA|VA) 11 $1,075,000 $97,727 $2,149 4.81%
    CARBONDALE-MARION, IL (FHA|USDA|VA) 9 $935,000 $103,889 $3,171 4.90%
    SPRINGFIELD, IL (FHA|USDA|VA) 6 $790,000 $131,667 $3,272 4.73%
    BLOOMINGTON, IL (FHA|USDA|VA) 5 $695,000 $139,000 $2,917 4.45%
    Centralia, IL (FHA|USDA|VA) 7 $685,000 $97,857 $3,707 5.27%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $405,000 $405,000 $4,754 3.88%
    ROCKFORD, IL (FHA|USDA|VA) 1 $335,000 $335,000 $1,147 4.25%
    Pontiac, IL (FHA|USDA|VA) 2 $310,000 $155,000 $5,284 4.69%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $295,000 $295,000 $2,228 4.50%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $265,000 $265,000 $0 4.63%
    Marshall, MN (FHA|USDA|VA) 1 $255,000 $255,000 $2,984 4.25%
    Macomb, IL (FHA|USDA|VA) 3 $245,000 $81,667 $2,547 4.79%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 2 $240,000 $120,000 $3,329 4.50%
    KANKAKEE, IL (FHA|USDA|VA) 2 $220,000 $110,000 $3,147 4.69%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $205,000 $205,000 $2,196 4.50%
    Effingham, IL (FHA|USDA|VA) 2 $180,000 $90,000 $1,852 5.13%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 2 $180,000 $90,000 $3,344 5.44%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $165,000 $165,000 $4,569 4.25%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $165,000 $165,000 $2,085 5.00%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 3 $165,000 $55,000 $2,579 4.83%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $155,000 $155,000 $3,272 3.88%
    JOPLIN, MO (FHA|USDA|VA) 1 $155,000 $155,000 $3,704 5.13%
    TERRE HAUTE, IN (FHA|USDA|VA) 2 $150,000 $75,000 $3,154 5.00%
    Burlington, IA-IL (FHA|USDA|VA) 1 $145,000 $145,000 $3,805 4.88%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $85,000 $85,000 $3,671 4.38%
    Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 1 $85,000 $85,000 $3,539 5.00%
    Jacksonville, IL (FHA|USDA|VA) 1 $65,000 $65,000 $2,384 5.00%
    Ottawa, IL (FHA|USDA|VA) 1 $55,000 $55,000 $3,005 4.00%
    State Bank Of Lincoln's top markets include Lincoln, Champaign, Decatur, Mount Vernon, and St. Louis among others.

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

    • Similar Lenders

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

    First Bank & Trust IL
    Similarity Rank: 45
    The Fisher National Bank
    Similarity Rank: 90
    Community Mortgage Banc Corporation
    Similarity Rank: 156
    Prairie State Bank and Trust
    Similarity Rank: 207
    Paramount Bond & Mortgage Co Inc.
    Similarity Rank: 270
    UNIVERSITY OF ILLINOIS COMMUNITY
    Similarity Rank: 275
    Marine Bank
    Similarity Rank: 287
    Prospect Bank
    Similarity Rank: 308
    Heartland Bank and Trust Company
    Similarity Rank: 432
    First Mid Bank & Trust
    Similarity Rank: 580

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 312 $34,750,000 $111,378 $2,432 4.69%
    USDA 153 $13,635,000 $89,118 $3,251 4.86%
    FHA 15 $1,815,000 $121,000 $4,049 4.76%
    VA 6 $810,000 $135,000 $4,402 4.67%

    For 2018, State Bank Of Lincoln's most frequently originated type of loan was Conventional, with 312 originations. Their 2nd most popular type was USDA, with 153 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 396 $40,410,000 $102,045 $2,867 4.76%
    Refi 50 $6,580,000 $131,600 $2,242 4.66%
    Cash Out Refi 35 $3,745,000 $107,000 $2,550 4.58%
    Home Improvement 3 $225,000 $75,000 $2,827 4.83%
    Other 2 $50,000 $25,000 $826 5.63%

    For 2018, State Bank Of Lincoln's most frequently cited loan purpose was Home Purchase, with 396 originations. The 2nd most popular reason was Refi, with 50 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 392 $42,520,000 $108,469 $2,913 4.80%
    15 Year 56 $5,670,000 $101,250 $2,166 4.31%
    20 Year 20 $1,930,000 $96,500 $2,258 4.73%
    10 Year 11 $595,000 $54,091 $1,703 4.47%
    Other 5 $205,000 $41,000 $0 5.89%
    3 Year 1 $5,000 $5,000 $1,494 4.00%
    5 Year 1 $85,000 $85,000 $0 5.50%

    For 2018, State Bank Of Lincoln's most frequently cited loan duration was 30 Year, with 392 originations. The 2nd most popular length was 15 Year, with 56 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 246 $25,140,000 $102,195
    $1k-2k 182 $18,040,000 $99,121
    $2k-3k 33 $4,775,000 $144,697
    $3k-4k 9 $1,575,000 $175,000
    $4k-5k 2 $380,000 $190,000
    $5k+ 1 $205,000 $205,000

    State Bank Of Lincoln's average total fees were $2,913, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 246 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 346 $37,340,000 $107,919
    5-6% 98 $8,660,000 $88,367
    3-4% 40 $4,960,000 $124,000
    6-7% 1 $25,000 $25,000
    7-8% 1 $25,000 $25,000

    During 2018, State Bank Of Lincoln's average interest rate for loans was 4.80%, while their most frequently originated rate bucket for loans was 4-5%, with 346 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 284 $18,850,000 $66,373 $2,534 4.80%
    $100k-200k 169 $23,525,000 $139,201 $3,029 4.69%
    $200k-400k 30 $7,350,000 $245,000 $3,408 4.55%
    $400k-600k 3 $1,285,000 $428,333 $4,098 4.13%

    2018 saw State Bank Of Lincoln place emphasis on $100,000 or less loans with 284 originations, totaling $18,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 187 $13,515,000 $72,273 $2,584 4.78%
    $50k-75k 152 $15,890,000 $104,539 $2,981 4.76%
    $75k-100k 74 $9,790,000 $132,297 $2,755 4.69%
    $100k-150k 45 $6,915,000 $153,667 $2,921 4.58%
    $150k-250k 21 $4,055,000 $193,095 $2,603 4.72%
    $250k+ 5 $765,000 $153,000 $3,532 4.63%

    State Bank Of Lincoln lent most frequently to those with incomes in the $50k or less range, with 187 originations. The second most popular income band? $50k-75k, with 152 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 150 $15,650,000 $104,333 $2,621 4.74%
    30-36% 110 $11,660,000 $106,000 $2,799 4.72%
    <20% 58 $5,480,000 $94,483 $2,533 4.69%
    36% 29 $2,775,000 $95,690 $3,018 4.82%
    39% 25 $2,455,000 $98,200 $3,759 4.76%
    37% 23 $2,335,000 $101,522 $2,902 4.88%
    38% 17 $1,575,000 $92,647 $2,891 4.74%
    42% 16 $2,070,000 $129,375 $3,232 4.73%
    40% 12 $1,640,000 $136,667 $3,422 4.68%
    43% 10 $940,000 $94,000 $2,271 4.60%
    44% 6 $440,000 $73,333 $2,670 4.88%
    47% 5 $785,000 $157,000 $1,893 4.73%
    45% 5 $645,000 $129,000 $2,349 4.70%
    41% 5 $805,000 $161,000 $2,614 4.63%
    46% 4 $580,000 $145,000 $2,769 4.59%
    48% 4 $440,000 $110,000 $2,200 4.78%
    49% 3 $605,000 $201,667 $2,313 4.38%
    50-60% 1 $25,000 $25,000 $1,048 5.25%

    State Bank Of Lincoln lent most frequently to those with DTI ratios of 20-30%, with 150 originations. The next most common DTI ratio? 30-36%, with 110 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 472 $49,900,000 $105,720 $2,769 4.73%
    Asian 3 $335,000 $111,667 $3,164 4.83%
    Black 5 $335,000 $67,000 $2,644 4.85%
    Not provided 2 $200,000 $100,000 $3,425 4.44%
    American Indian 1 $105,000 $105,000 $3,701 5.50%
    Not applicable 2 $80,000 $40,000 $0 6.25%
    Native Hawaiian or Islander 1 $55,000 $55,000 $2,034 4.38%

    Approval Rates

    Total approvals of all applications
    97.69%

    State Bank Of Lincoln 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
    95.47%

    State Bank Of Lincoln has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 486 $51,010,000 $104,959

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 486 $51,010,000 $104,959

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $615,000 $68,333 $1,793 4.68%
    40-60% 26 $1,870,000 $71,923 $1,818 4.72%
    60-80% 112 $12,660,000 $113,036 $2,598 4.70%
    80-100% 333 $35,345,000 $106,141 $2,925 4.76%
    Over 100% 2 $240,000 $120,000 $3,498 4.81%
    Under 20% 2 $130,000 $65,000 $2,535 4.38%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    STATE FARM BANK, FSB Conventional home mortgage Closing on a mortgage 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Struggling to pay mortgage 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Trouble during payment process 6 50.0%
    STATE FARM BANK, FSB Home equity loan or line of credit (HELOC) Trouble during payment process 2 16.7%
    STATE FARM BANK, FSB Other type of mortgage Trouble during payment process 2 16.7%