North Side Federal Savings And Loan Association Of Chicago Mortgage Rates, Fees & Info
Chicago, ILLEI: 254900S293MIVH34PR45
Tax ID: 36-1559567
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Mortgage Data
Bank Data
Review & Overview
North Side Federal Savings And Loan Association Of Chicago is a smaller mortgage company specializing in Home Improvement and Home Purchase loans. North Side Federal Savings And Loan Association Of Chicago has a high proportion of conventional loans. Their top (well, only) market is Chicago.North Side Federal Savings And Loan Association Of Chicago has an above average approval rate when compared to the average across all lenders. North Side Federal Savings And Loan Association Of Chicago 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 | 6.27% | 4/28/24 |
| 30 Year Conventional Refi | 6.27% | 4/28/24 |
| 30 Year Cash-out Refi | 6.27% | 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. | ||
North Side Federal Savings And Loan Association Of Chicago Mortgage Calculator
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Originations
12Origination Dollar Volume (All Markets)
$2,830,000Employee count
9Top 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) | 12 | $2,830,000 | $235,833 | $4,231 | 5.29% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 7 | $2,245,000 | $320,714 | $4,231 | 4.83% |
| HELOC | 5 | $585,000 | $117,000 | n/a | 5.95% |
For 2018, North Side Federal Savings And Loan Association Of Chicago's most frequently originated type of loan was Conventional, with 7 originations. Their 2nd most popular type was HELOC, with 5 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 5 | $585,000 | $117,000 | $0 | 5.95% |
| Home Purchase | 4 | $1,930,000 | $482,500 | $4,231 | 4.78% |
| Refi | 3 | $315,000 | $105,000 | $0 | 4.88% |
For 2018, North Side Federal Savings And Loan Association Of Chicago's most frequently cited loan purpose was Home Improvement, with 5 originations. The 2nd most popular reason was Home Purchase, with 4 originations.
Loan Duration/Length
For 2018, North Side Federal Savings And Loan Association Of Chicago's most frequently cited loan duration was Other, with 5 originations. The 2nd most popular length was 30 Year, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 5 | $985,000 | $197,000 |
| 5-6% | 4 | $1,080,000 | $270,000 |
| 6-7% | 2 | $160,000 | $80,000 |
| 3-4% | 1 | $605,000 | $605,000 |
During 2018, North Side Federal Savings And Loan Association Of Chicago's average interest rate for loans was 4.78%, while their most frequently originated rate bucket for loans was 4-5%, with 5 originations.
Loan Sizing
2018 saw North Side Federal Savings And Loan Association Of Chicago place emphasis on $100,000 or less loans with 4 originations, totaling $230,000 in origination value.
Applicant Income
North Side Federal Savings And Loan Association Of Chicago lent most frequently to those with incomes in the $100k-150k range, with 3 originations. The second most popular income band? $50k or less, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| <20% | 9 | $2,025,000 | $225,000 | $0 | 5.20% |
| 36% | 2 | $350,000 | $175,000 | $0 | 6.13% |
| 20-30% | 1 | $455,000 | $455,000 | $4,231 | 4.50% |
North Side Federal Savings And Loan Association Of Chicago lent most frequently to those with DTI ratios of <20%, with 9 originations. The next most common DTI ratio? 36%, with 2 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 10 | $2,180,000 | $218,000 | $4,231 | 5.46% |
| Chinese | 1 | $605,000 | $605,000 | $0 | 4.00% |
| Filipino | 1 | $45,000 | $45,000 | $0 | 4.95% |
Approval Rates
Total approvals of all applications100.00%
North Side Federal Savings And Loan Association Of Chicago has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1099.6 | 1 | $215,000 | $215,000 |
| 300.0 | 1 | $45,000 | $45,000 |
| 4500.0 | 1 | $605,000 | $605,000 |
| 500.0 | 1 | $105,000 | $105,000 |
| 800.0 | 1 | $165,000 | $165,000 |
| NA | 7 | $1,695,000 | $242,143 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $105,000 | $105,000 |
| Single Family (1-4 Units):Site-Built | 11 | $2,725,000 | $247,727 |
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| North Side Federal Savings and Loan Association of Chicago | 5159 N Clark St Chicago, IL 60640 | Full Service B&M | $36,107 |
For 2018, North Side Federal Savings And Loan Association Of Chicago had 1 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $1,609 |
| Net interest income | $1,511 |
| Total noninterest income | $114 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $35 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $79 |
| Pre-tax net operating income | $3 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $3 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3 |
| Minority interest net income | $0 |
| Net income | $3 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3 |
North Side Federal Savings And Loan Association Of Chicago's gross interest income from loans was $1,609,000.
North Side Federal Savings And Loan Association Of Chicago's net interest income from loans was $1,511,000.
North Side Federal Savings And Loan Association Of Chicago's fee based income from loans was $35,000.
North Side Federal Savings And Loan Association Of Chicago's net income from loans was $3,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $98 |
| Provision for credit losses | $0 |
| Total noninterest expense | $1,622 |
| Salaries and employee benefits | $933 |
| Premises and equipment expense | $174 |
| Additional noninterest expense | $515 |
| Applicable income taxes | $0 |
| Net charge-offs | $0 |
| Cash dividends | $0 |
North Side Federal Savings And Loan Association Of Chicago's interest expense for loans was $98,000.
North Side Federal Savings And Loan Association Of Chicago's payroll and benefits expense were $933,000.
North Side Federal Savings And Loan Association Of Chicago's property, plant and equipment expenses $174,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 2.0% |
| Real Estate loans | 2.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 3.0% |
| HELOC loans | 0.0% |
| All other family | 4.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $35,441 |
| Deposits held in domestic offices | $35,441 |
| Deposits by Individuals, partnerships, and corporations | $35,441 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $0 |
| Deposits by Commercial banks and other depository institutions in U.S. | $0 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $7,218 |
| Demand deposits | $5,191 |
| Nontransaction accounts | $28,223 |
| Money market deposit accounts (MMDAs) | $2,155 |
| Other savings deposits (excluding MMDAs) | $16,139 |
| Total time deposits | $9,929 |
| Total time and savings deposits | $30,250 |
| Noninterest-bearing deposits | $5,191 |
| Interest-bearing deposits | $30,250 |
| Retail deposits | $35,441 |
| IRAs and Keogh plan accounts | $2,448 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $40,859 |
| Cash & Balances due from depository institutions | $7,003 |
| Interest-bearing balances | $6,469 |
| Total securities | $9,250 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $22,870 |
| Loan and leases loss allowance | $287 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $829 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $16 |
| All other assets | $891 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $40,859 |
| Total Liabilities | $37,034 |
| Total deposits | $35,441 |
| Interest-bearing deposits | $30,250 |
| Deposits held in domestic offices | $35,441 |
| % insured (estimated) | $96 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $1,400 |
| Subordinated debt | $0 |
| All other liabilities | $193 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $22,870 |
| Loan and leases loss allowance | $287 |
| Total loans and leases (domestic) | $23,157 |
| All real estate loans | $23,110 |
| Real estate loans in domestic offices | $23,110 |
| Construction and development loans | $0 |
| Residential 1-4 family construction | $0 |
| Other construction, all land development and other land | $0 |
| Loans secured by nonfarm nonresidential properties | $2,676 |
| Nonfarm nonresidential secured by owner-occupied properties | $2,676 |
| Commercial real estate & other non-farm, non-residential | $0 |
| Multifamily residential real estate | $2,518 |
| 1-4 family residential loans | $17,916 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $44 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $3 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $3 |
| All other loans & leases | $0 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $1,016 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
North Side Federal Savings and Loan Association of Chicago had $22,870,000 of loans outstanding in 2018. $23,110,000 of loans were in real estate loans. $0 of loans were in development loans. $2,518,000 of loans were in multifamily mortgage loans. $17,916,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.
Small Business Loans
| Categorization | # of Loans in Category | $ amount of loans (in 000's) | Average $/loan |
|---|---|---|---|
| Nonfarm, nonresidential loans - <$1MM | 9 | $2,449 | $272,111 |
| Nonfarm, nonresidential loans - $100-250k | 3 | $354 | $118,000 |
| Nonfarm, nonresidential loans - $250k-1MM | 6 | $2,095 | $349,167 |
| Commercial & Industrial, US addressed loans - <$1MM | 4 | $44 | $11,000 |
| Commercial & Industrial, US addressed loans - <$100k | 4 | $44 | $11,000 |