First State Mortgage Services Rates, Fees & Info

MENDOTA, IL

LEI: 5493000F6NFDOVVZP043

Tax ID: 41-2181683

5 stars - Updated: 3/4/24 - out of 5 stars, based on 39 reviews

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

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Mortgage Data

Review & Overview

First State Mortgage Services is a smaller mortgage company specializing in Home Purchase loans. First State Mortgage Services has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Bloomington, Chicago, Milwaukee, Peoria, and Champaign among others. We have data for 95 markets. (Some data included below & more in-depth data is available with an active subscription.)

First State Mortgage Services 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. First State Mortgage Services 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 6.65% 3/4/24
30 Year Conventional Refi 6.37% 3/4/24
30 Year Cash-out Refi 6.63% 3/4/24
30 Year FHA Purchase 7.38% 3/4/24
30 Year FHA Refi 5.84% 3/4/24
30 Year VA Purchase 6.34% 3/4/24
30 Year VA Refi 5.89% 3/4/24
30 Year USDA Purchase 6.66% 3/4/24
15 Year Conventional Purchase 6.10% 3/4/24
15 Year Conventional Refi 6.06% 3/4/24
15 Year Cash-out Refi 6.06% 3/4/24
15 Year FHA Purchase 7.09% 3/4/24
15 Year VA Purchase 5.35% 3/4/24
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.

First State Mortgage Services Mortgage Calculator






Your Estimates

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

This is not an official calculator from First State Mortgage Services. 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

1,550

Origination Dollar Volume (All Markets)

$334,970,000
Show all (11) awards

Relative Rate

First State Mortgage Services's average 30 year fixed mortgage rate was 5.04%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.28%.

Relative Fees (Closing Costs)

First State Mortgage Services's average total fees/closing costs for a 30 year fixed rate mortgage were $4,294.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

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
BLOOMINGTON, IL (FHA|USDA|VA) 650 $132,590,000 $203,985 $3,636 4.97%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 284 $79,340,000 $279,366 $6,185 4.86%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 105 $29,235,000 $278,429 $2,943 4.97%
PEORIA, IL (FHA|USDA|VA) 145 $21,645,000 $149,276 $3,651 5.01%
Outside of Metro Areas 55 $9,545,000 $173,545 $3,807 5.09%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 32 $5,950,000 $185,938 $4,019 5.16%
Ottawa, IL (FHA|USDA|VA) 29 $5,045,000 $173,966 $4,513 5.10%
DECATUR, IL (FHA|USDA|VA) 38 $4,610,000 $121,316 $3,195 5.17%
ROCKFORD, IL (FHA|USDA|VA) 16 $2,930,000 $183,125 $5,244 5.05%
Pontiac, IL (FHA|USDA|VA) 17 $2,255,000 $132,647 $4,437 5.08%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 6 $2,110,000 $351,667 $6,466 5.42%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 5 $2,095,000 $419,000 $11,793 4.53%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 5 $2,035,000 $407,000 $4,798 6.10%
Lincoln, IL (FHA|USDA|VA) 16 $2,020,000 $126,250 $3,988 5.04%
SPRINGFIELD, IL (FHA|USDA|VA) 10 $1,710,000 $171,000 $4,639 5.25%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $1,325,000 $441,667 $4,898 4.13%
ST. LOUIS, MO-IL (FHA|USDA|VA) 6 $1,160,000 $193,333 $4,475 4.98%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 4 $1,040,000 $260,000 $4,480 4.90%
KANSAS CITY, MO-KS (FHA|USDA|VA) 6 $940,000 $156,667 $2,404 4.71%
WINSTON-SALEM, NC (FHA|USDA|VA) 2 $920,000 $460,000 $3,409 6.25%
Beaver Dam, WI (FHA|USDA|VA) 4 $810,000 $202,500 $2,509 5.59%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 3 $725,000 $241,667 $8,851 4.38%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $725,000 $725,000 $26,494 3.63%
SHEBOYGAN, WI (FHA|USDA|VA) 4 $710,000 $177,500 $2,721 4.50%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 3 $665,000 $221,667 $3,083 4.29%
PANAMA CITY, FL (FHA|USDA|VA) 1 $625,000 $625,000 $0 3.50%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $595,000 $595,000 $4,639 3.75%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $590,000 $295,000 $6,277 5.31%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 2 $590,000 $295,000 $3,758 4.94%
Whitewater, WI (FHA|USDA|VA) 3 $585,000 $195,000 $3,482 4.79%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $575,000 $575,000 $2,929 5.00%
Quincy, IL-MO (FHA|USDA|VA) 2 $570,000 $285,000 $4,370 4.75%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $565,000 $565,000 $4,630 5.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $555,000 $555,000 $3,943 3.25%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $535,000 $535,000 $6,177 6.63%
MADISON, WI (FHA|USDA|VA) 3 $525,000 $175,000 $3,831 6.13%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $520,000 $260,000 $2,609 3.75%
Galesburg, IL (FHA|USDA|VA) 3 $515,000 $171,667 $4,616 5.38%
Warrensburg, MO (FHA|USDA|VA) 2 $510,000 $255,000 $2,123 6.06%
TUCSON, AZ (FHA|USDA|VA) 1 $505,000 $505,000 $6,214 6.13%
APPLETON, WI (FHA|USDA|VA) 2 $470,000 $235,000 $3,834 4.00%
Tullahoma-Manchester, TN (FHA|USDA|VA) 2 $440,000 $220,000 $3,174 5.88%
Dixon, IL (FHA|USDA|VA) 2 $440,000 $220,000 $4,467 5.25%
Branson, MO (FHA|USDA|VA) 1 $425,000 $425,000 $6,530 4.50%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $425,000 $425,000 $7,882 5.50%
GREEN BAY, WI (FHA|USDA|VA) 2 $420,000 $210,000 $3,462 4.75%
Lexington, NE (FHA|USDA|VA) 4 $420,000 $105,000 $2,861 4.47%
Baraboo, WI (FHA|USDA|VA) 2 $410,000 $205,000 $6,020 5.69%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $395,000 $395,000 $2,625 7.00%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $390,000 $195,000 $3,774 3.75%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $385,000 $385,000 $5,875 4.38%
Grand Rapids, MN (FHA|USDA|VA) 3 $385,000 $128,333 $4,319 3.17%
DANVILLE, IL (FHA|USDA|VA) 4 $370,000 $92,500 $3,597 5.03%
Platteville, WI (FHA|USDA|VA) 1 $355,000 $355,000 $13,063 4.99%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 3 $345,000 $115,000 $0 3.75%
GAINESVILLE, GA (FHA|USDA|VA) 1 $345,000 $345,000 $5,135 5.38%
KANKAKEE, IL (FHA|USDA|VA) 2 $340,000 $170,000 $3,925 3.69%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $330,000 $165,000 $0 4.13%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $325,000 $325,000 $3,095 5.38%
THE VILLAGES, FL (FHA|USDA|VA) 1 $325,000 $325,000 $3,954 5.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $315,000 $315,000 $8,250 6.38%
BLOOMINGTON, IN (FHA|USDA|VA) 1 $305,000 $305,000 $1,903 5.50%
Sterling, IL (FHA|USDA|VA) 1 $295,000 $295,000 $3,983 3.13%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $285,000 $285,000 $5,696 5.13%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $275,000 $275,000 $9,801 5.13%
COLUMBIA, MO (FHA|USDA|VA) 1 $265,000 $265,000 $4,816 5.50%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $265,000 $265,000 $3,768 5.63%
RACINE, WI (FHA|USDA|VA) 1 $245,000 $245,000 $6,543 6.13%
IOWA CITY, IA (FHA|USDA|VA) 1 $235,000 $235,000 $3,062 3.13%
Rochelle, IL (FHA|USDA|VA) 1 $235,000 $235,000 $10,079 5.13%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $225,000 $225,000 $6,346 3.87%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,150 3.75%
Jacksonville, IL (FHA|USDA|VA) 1 $205,000 $205,000 $1,485 5.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,227 4.25%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $205,000 $205,000 $2,688 2.75%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $195,000 $195,000 $6,068 5.50%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.25%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $185,000 $185,000 $0 6.00%
ASHEVILLE, NC (FHA|USDA|VA) 1 $165,000 $165,000 $0 6.13%
NILES, MI (FHA|USDA|VA) 1 $165,000 $165,000 $2,719 3.63%
Taylorville, IL (FHA|USDA|VA) 1 $165,000 $165,000 $2,216 5.25%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 2 $160,000 $80,000 $0 6.31%
COLUMBIA, SC (FHA|USDA|VA) 1 $155,000 $155,000 $3,150 3.13%
Effingham, IL (FHA|USDA|VA) 1 $155,000 $155,000 $3,822 6.50%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $155,000 $155,000 $0 5.50%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $145,000 $145,000 $0 6.00%
Shawnee, OK (FHA|USDA|VA) 1 $145,000 $145,000 $0 6.00%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $145,000 $145,000 $4,254 4.38%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $145,000 $145,000 $2,308 3.75%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $135,000 $135,000 $0 5.50%
ODESSA, TX (FHA|USDA|VA) 1 $135,000 $135,000 $8,625 4.13%
Charleston-Mattoon, IL (FHA|USDA|VA) 1 $135,000 $135,000 $4,234 4.75%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 2 $130,000 $65,000 $2,518 4.00%
WICHITA, KS (FHA|USDA|VA) 1 $105,000 $105,000 $2,868 5.75%
Paducah, KY-IL (FHA|USDA|VA) 1 $45,000 $45,000 $3,074 6.00%
First State Mortgage Services's top markets include Bloomington, Chicago, Milwaukee, Peoria, and Champaign among others.

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

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

    First State Bank
    Similarity Rank: 27
    First Savings Bank of Hegewisch
    Similarity Rank: 30
    HEARTLAND
    Similarity Rank: 84
    MEMBERS COOPERATIVE
    Similarity Rank: 140
    Alliance Community Bank
    Similarity Rank: 144
    Liberty Bank for Savings
    Similarity Rank: 153
    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 209
    First Credit Union
    Similarity Rank: 210
    Goodfield State Bank
    Similarity Rank: 216
    UNIVERSITY OF ILLINOIS COMMUNITY
    Similarity Rank: 216

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,248 $278,350,000 $223,037 $3,692 4.98%
    FHA 186 $33,980,000 $182,688 $6,593 5.08%
    VA 69 $16,815,000 $243,696 $7,009 4.64%
    USDA 47 $5,825,000 $123,936 $3,804 4.54%

    For 2022, First State Mortgage Services's most frequently originated type of loan was Conventional, with 1,248 originations. Their 2nd most popular type was FHA, with 186 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,374 $298,360,000 $217,147 $4,349 5.06%
    Cash Out Refi 96 $20,380,000 $212,292 $3,325 4.37%
    Refi 67 $13,875,000 $207,090 $2,620 3.93%
    Other 7 $1,525,000 $217,857 $3,757 4.32%
    Home Improvement 6 $830,000 $138,333 $3,003 4.89%

    For 2022, First State Mortgage Services's most frequently cited loan purpose was Home Purchase, with 1,374 originations. The 2nd most popular reason was Cash Out Refi, with 96 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,438 $309,410,000 $215,167 $4,294 5.04%
    15 Year 88 $20,280,000 $230,455 $3,166 4.01%
    20 Year 21 $4,815,000 $229,286 $3,135 3.83%
    10 Year 3 $465,000 $155,000 $5,058 3.42%

    For 2022, First State Mortgage Services's most frequently cited loan duration was 30 Year, with 1,438 originations. The 2nd most popular length was 15 Year, with 88 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 533 $95,235,000 $178,677
    $<1k 513 $112,965,000 $220,205
    $2k-3k 221 $43,965,000 $198,937
    $3k-4k 117 $36,645,000 $313,205
    $4k-5k 49 $16,245,000 $331,531
    $5k+ 44 $18,010,000 $409,318

    First State Mortgage Services's average total fees were $4,294, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 533 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 621 $131,905,000 $212,407
    3-4% 345 $75,005,000 $217,406
    4-5% 316 $73,020,000 $231,076
    6-7% 194 $36,900,000 $190,206
    2.5-3% 39 $9,555,000 $245,000
    7-8% 30 $7,330,000 $244,333
    <2.5% 5 $1,255,000 $251,000

    During 2022, First State Mortgage Services's average interest rate for loans was 5.04%, while their most frequently originated rate bucket for loans was 5-6%, with 621 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 659 $96,165,000 $145,926 $3,621 4.93%
    $200k-400k 582 $162,720,000 $279,588 $4,697 4.97%
    $100,000 or less 182 $13,650,000 $75,000 $2,964 5.17%
    $400k-600k 107 $49,475,000 $462,383 $6,236 4.90%
    $600k-1MM 20 $12,960,000 $648,000 $8,577 4.48%

    2022 saw First State Mortgage Services place emphasis on $100k-200k loans with 659 originations, totaling $96,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 357 $93,975,000 $263,235 $4,540 4.88%
    $50k-75k 349 $56,785,000 $162,708 $3,932 4.97%
    $75k-100k 283 $60,275,000 $212,986 $4,245 5.05%
    $50k or less 275 $31,045,000 $112,891 $3,524 4.96%
    $150k-250k 203 $64,645,000 $318,448 $4,840 4.96%
    $250k+ 76 $26,880,000 $353,684 $5,170 5.13%

    First State Mortgage Services lent most frequently to those with incomes in the $100k-150k range, with 357 originations. The second most popular income band? $50k-75k, with 349 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 346 $68,570,000 $198,179 $3,778 4.79%
    30-36% 290 $63,850,000 $220,172 $4,054 4.99%
    <20% 112 $21,720,000 $193,929 $3,461 4.81%
    42% 80 $16,600,000 $207,500 $4,669 5.18%
    44% 80 $16,360,000 $204,500 $4,174 5.10%
    43% 68 $14,660,000 $215,588 $4,505 5.04%
    40% 65 $13,805,000 $212,385 $4,200 5.17%
    36% 62 $14,360,000 $231,613 $4,643 5.01%
    41% 61 $14,615,000 $239,590 $4,441 4.99%
    39% 55 $12,935,000 $235,182 $4,302 5.13%
    37% 53 $12,185,000 $229,906 $4,267 4.91%
    38% 52 $10,890,000 $209,423 $4,560 5.00%
    45% 51 $13,495,000 $264,608 $4,208 4.95%
    50-60% 50 $11,530,000 $230,600 $7,025 5.09%
    46% 36 $7,920,000 $220,000 $3,758 5.14%
    49% 34 $8,760,000 $257,647 $4,730 4.76%
    47% 27 $6,315,000 $233,889 $4,816 5.35%
    48% 25 $5,955,000 $238,200 $4,534 4.91%
    >60% 3 $445,000 $148,333 $2,593 4.92%

    First State Mortgage Services lent most frequently to those with DTI ratios of 20-30%, with 346 originations. The next most common DTI ratio? 30-36%, with 290 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,221 $262,135,000 $214,689 $4,108 4.95%
    Not provided 154 $29,300,000 $190,260 $4,293 4.98%
    Asian 78 $20,970,000 $268,846 $4,649 5.10%
    Black 63 $13,575,000 $215,476 $5,207 5.14%
    Asian Indian 24 $6,570,000 $273,750 $4,639 4.86%
    American Indian 5 $1,335,000 $267,000 $6,012 5.75%
    Native Hawaiian or Islander 3 $695,000 $231,667 $4,284 4.88%
    Japanese 1 $245,000 $245,000 $3,492 5.00%
    Other Asian 1 $145,000 $145,000 $8,637 5.13%

    Approval Rates

    Total approvals of all applications
    96.45%

    First State Mortgage Services 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
    84.58%

    First State Mortgage Services has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,550 $334,970,000 $216,110

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,550 $334,970,000 $216,110

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $2,795,000 $121,522 $3,044 4.44%
    40-60% 69 $13,555,000 $196,449 $3,249 4.54%
    60-80% 427 $98,435,000 $230,527 $3,794 4.94%
    80-100% 1,015 $215,165,000 $211,985 $4,314 5.02%
    Over 100% 15 $4,995,000 $333,000 $13,680 4.91%
    Under 20% 1 $25,000 $25,000 $2,143 3.38%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST GUARANTY MORTGAGE CORP Conventional home mortgage Struggling to pay mortgage 1 100.0%