First State Mortgage Services Rates, Fees & Info
MENDOTA, ILLEI: 5493000F6NFDOVVZP043
Tax ID: 41-2181683
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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: Chicago, Bloomington, Milwaukee, Champaign, and Peoria among others. We have data for 99 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.65% | 12/17/24 |
| 30 Year Conventional Refi | 6.37% | 12/17/24 |
| 30 Year Cash-out Refi | 6.63% | 12/17/24 |
| 30 Year FHA Purchase | 7.38% | 12/17/24 |
| 30 Year FHA Refi | 5.84% | 12/17/24 |
| 30 Year VA Purchase | 6.34% | 12/17/24 |
| 30 Year VA Refi | 5.89% | 12/17/24 |
| 30 Year USDA Purchase | 6.66% | 12/17/24 |
| 15 Year Conventional Purchase | 6.10% | 12/17/24 |
| 15 Year Conventional Refi | 6.06% | 12/17/24 |
| 15 Year Cash-out Refi | 6.06% | 12/17/24 |
| 15 Year FHA Purchase | 7.09% | 12/17/24 |
| 15 Year VA Purchase | 5.35% | 12/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,070Origination Dollar Volume (All Markets)
$362,820,000Awards
FIRST STATE MORTGAGE SERVICES - 2018
FIRST STATE MORTGAGE SERVICES is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 598 | $128,960,000 | $215,652 | $5,581 | 4.86% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 652 | $99,560,000 | $152,699 | $3,697 | 4.97% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 136 | $30,070,000 | $221,103 | $3,589 | 4.82% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 117 | $17,535,000 | $149,872 | $2,609 | 4.78% |
| PEORIA, IL (FHA|USDA|VA) | 122 | $13,590,000 | $111,393 | $3,770 | 5.08% |
| Outside of Metro Areas | 72 | $10,060,000 | $139,722 | $3,008 | 4.69% |
| DECATUR, IL (FHA|USDA|VA) | 59 | $6,925,000 | $117,373 | $3,208 | 4.86% |
| Grand Rapids, MN (FHA|USDA|VA) | 30 | $4,710,000 | $157,000 | $3,208 | 4.88% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 28 | $3,780,000 | $135,000 | $3,454 | 5.40% |
| ROCKFORD, IL (FHA|USDA|VA) | 20 | $3,310,000 | $165,500 | $5,372 | 4.83% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 12 | $2,930,000 | $244,167 | $6,454 | 5.07% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 11 | $2,035,000 | $185,000 | $5,593 | 5.07% |
| Ottawa, IL (FHA|USDA|VA) | 15 | $1,875,000 | $125,000 | $4,637 | 5.18% |
| Pontiac, IL (FHA|USDA|VA) | 13 | $1,455,000 | $111,923 | $3,451 | 4.94% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 5 | $1,335,000 | $267,000 | $4,301 | 4.87% |
| LINCOLN, NE (FHA|USDA|VA) | 8 | $1,320,000 | $165,000 | $3,617 | 4.56% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $1,270,000 | $635,000 | $6,627 | 5.13% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 5 | $1,265,000 | $253,000 | $3,091 | 4.78% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 4 | $1,230,000 | $307,500 | $4,293 | 4.56% |
| DUBUQUE, IA (FHA|USDA|VA) | 6 | $1,180,000 | $196,667 | $3,332 | 4.58% |
| Lincoln, IL (FHA|USDA|VA) | 9 | $1,175,000 | $130,556 | $3,157 | 4.61% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 7 | $1,145,000 | $163,571 | $4,276 | 4.59% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $1,020,000 | $170,000 | $3,717 | 5.06% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 4 | $980,000 | $245,000 | $3,031 | 4.63% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $2,913 | 4.79% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 8 | $860,000 | $107,500 | $0 | 5.53% |
| Rochelle, IL (FHA|USDA|VA) | 5 | $805,000 | $161,000 | $3,903 | 4.65% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $15,160 | 4.50% |
| PUEBLO, CO (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $3,492 | 4.67% |
| KANKAKEE, IL (FHA|USDA|VA) | 6 | $790,000 | $131,667 | $3,213 | 4.65% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $790,000 | $197,500 | $3,325 | 4.75% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $2,852 | 5.06% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $0 | 5.25% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $3,066 | 4.75% |
| Beaver Dam, WI (FHA|USDA|VA) | 4 | $590,000 | $147,500 | $3,293 | 4.81% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $5,384 | 4.50% |
| Whitewater, WI (FHA|USDA|VA) | 4 | $490,000 | $122,500 | $3,661 | 4.69% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $3,893 | 3.71% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $4,032 | 4.63% |
| ASHEVILLE, NC (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $3,510 | 4.44% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $6,217 | 4.38% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $3,162 | 4.63% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $3,140 | 4.46% |
| GREEN BAY, WI (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $4,634 | 4.75% |
| MADISON, WI (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $3,485 | 4.81% |
| RACINE, WI (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $5,025 | 4.25% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $3,669 | 5.19% |
| FOND DU LAC, WI (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $2,799 | 4.94% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,081 | 4.25% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $1,519 | 4.00% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $6,630 | 4.25% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $2,717 | 5.08% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,045 | 4.88% |
| DANVILLE, IL (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $2,888 | 4.96% |
| Holland, MI (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $5,370 | 4.50% |
| Beatrice, NE (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $3,286 | 4.96% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,527 | 4.88% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,305 | 5.00% |
| Athens, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,688 | 4.88% |
| Taylorville, IL (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $4,746 | 4.19% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,512 | 4.88% |
| RENO, NV (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,503 | 4.50% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 6.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $9,065 | 4.88% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,327 | 4.88% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,030 | 4.63% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,935 | 4.75% |
| WACO, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,766 | 5.50% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,327 | 4.88% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 6.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,036 | 5.25% |
| Brainerd, MN (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $2,441 | 5.06% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,983 | 5.00% |
| Centralia, IL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,935 | 5.00% |
| Burlington, IA-IL (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $4,012 | 5.13% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,885 | 4.75% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,285 | 4.25% |
| Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,069 | 3.75% |
| Taos, NM (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,162 | 5.00% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,220 | 5.25% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,113 | 4.75% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 5.88% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,412 | 5.63% |
| Martin, TN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,865 | 4.25% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,779 | 4.75% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,400 | 4.88% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,300 | 5.00% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,940 | 5.13% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,283 | 4.88% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,438 | 4.88% |
| Galesburg, IL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,016 | 4.88% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 5.00% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 5.88% |
| Lexington, NE (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,767 | 5.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,863 | 4.75% |
| Forest City, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,980 | 5.25% |
| Macomb, IL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,807 | 4.75% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.88% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.00% |
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.
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Product Mix
For 2018, First State Mortgage Services's most frequently originated type of loan was Conventional, with 1,446 originations. Their 2nd most popular type was FHA, with 398 originations.
Loan Reason
For 2018, First State Mortgage Services's most frequently cited loan purpose was Home Purchase, with 1,797 originations. The 2nd most popular reason was Cash Out Refi, with 137 originations.
Loan Duration/Length
For 2018, First State Mortgage Services's most frequently cited loan duration was 30 Year, with 1,904 originations. The 2nd most popular length was 15 Year, with 111 originations.
Origination Fees/Closing Costs
First State Mortgage Services's average total fees were $4,312, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,024 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 1,290 | $247,670,000 | $191,992 |
| 5-6% | 649 | $91,025,000 | $140,254 |
| 3-4% | 103 | $20,715,000 | $201,117 |
| 6-7% | 28 | $3,410,000 | $121,786 |
During 2018, First State Mortgage Services's average interest rate for loans was 4.95%, while their most frequently originated rate bucket for loans was 4-5%, with 1,290 originations.
Loan Sizing
2018 saw First State Mortgage Services place emphasis on $100k-200k loans with 983 originations, totaling $143,775,000 in origination value.
Applicant Income
First State Mortgage Services lent most frequently to those with incomes in the $50k-75k range, with 631 originations. The second most popular income band? $50k or less, with 483 originations.
Applicant Debt to Income Ratio
First State Mortgage Services lent most frequently to those with DTI ratios of 30-36%, with 387 originations. The next most common DTI ratio? 20-30%, with 377 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.66%
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 origination88.79%
First State Mortgage Services has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,070 | $362,820,000 | $175,275 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 2,070 | $362,820,000 | $175,275 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| First Colony Mortgage Corp. | FHA mortgage | Closing on a mortgage | 1 | 100.0% |