First State Mortgage Services Rates, Fees & Info

MENDOTA, IL

LEI: 5493000F6NFDOVVZP043

Tax ID: 41-2181683

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: 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.

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% 3/24/24
30 Year Conventional Refi 6.37% 3/24/24
30 Year Cash-out Refi 6.63% 3/24/24
30 Year FHA Purchase 7.38% 3/24/24
30 Year FHA Refi 5.84% 3/24/24
30 Year VA Purchase 6.34% 3/24/24
30 Year VA Refi 5.89% 3/24/24
30 Year USDA Purchase 6.66% 3/24/24
15 Year Conventional Purchase 6.10% 3/24/24
15 Year Conventional Refi 6.06% 3/24/24
15 Year Cash-out Refi 6.06% 3/24/24
15 Year FHA Purchase 7.09% 3/24/24
15 Year VA Purchase 5.35% 3/24/24
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

2,070

Origination Dollar Volume (All Markets)

$362,820,000
Show all (9) 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
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%
First State Mortgage Services's top markets include Chicago, Bloomington, Milwaukee, Champaign, and Peoria among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,446 $261,810,000 $181,058 $3,611 4.93%
    FHA 398 $62,080,000 $155,980 $5,924 4.95%
    VA 142 $29,100,000 $204,930 $5,035 4.56%
    USDA 84 $9,830,000 $117,024 $3,580 4.67%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,797 $311,345,000 $173,258 $4,388 4.94%
    Cash Out Refi 137 $27,065,000 $197,555 $2,994 4.69%
    Refi 120 $21,950,000 $182,917 $2,691 4.61%
    Other 12 $1,890,000 $157,500 $2,520 4.57%
    Home Improvement 3 $515,000 $171,667 $0 5.58%
    NA 1 $55,000 $55,000 $0 5.63%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,904 $334,240,000 $175,546 $4,312 4.95%
    15 Year 111 $18,755,000 $168,964 $2,820 4.23%
    20 Year 46 $9,140,000 $198,696 $2,535 4.54%
    10 Year 6 $490,000 $81,667 $1,814 4.33%
    Other 3 $195,000 $65,000 $0 5.96%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,024 $186,500,000 $182,129
    $1k-2k 631 $93,765,000 $148,597
    $2k-3k 185 $35,835,000 $193,703
    $3k-4k 73 $19,215,000 $263,219
    $4k-5k 25 $7,925,000 $317,000
    $5k+ 12 $5,310,000 $442,500

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 983 $143,775,000 $146,261 $4,036 4.95%
    $200k-400k 612 $161,880,000 $264,510 $4,988 4.73%
    $100,000 or less 423 $31,865,000 $75,331 $3,089 5.08%
    $400k-600k 45 $20,455,000 $454,556 $4,884 4.48%
    $600k-1MM 7 $4,845,000 $692,143 $7,997 4.73%

    2018 saw First State Mortgage Services place emphasis on $100k-200k loans with 983 originations, totaling $143,775,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 631 $96,675,000 $153,209 $4,255 4.95%
    $50k or less 483 $51,325,000 $106,263 $3,659 5.04%
    $100k-150k 357 $81,105,000 $227,185 $4,386 4.76%
    $75k-100k 343 $64,155,000 $187,041 $4,382 4.84%
    $150k-250k 193 $47,685,000 $247,073 $4,571 4.87%
    $250k+ 56 $20,540,000 $366,786 $4,449 4.61%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 387 $66,105,000 $170,814 $4,014 4.89%
    20-30% 377 $65,945,000 $174,920 $3,864 4.82%
    44% 109 $17,165,000 $157,477 $4,486 5.12%
    43% 106 $17,910,000 $168,962 $4,511 5.00%
    <20% 106 $18,170,000 $171,415 $3,179 4.77%
    50-60% 103 $19,685,000 $191,117 $6,337 4.72%
    42% 101 $17,465,000 $172,921 $4,087 4.98%
    41% 99 $17,675,000 $178,535 $4,435 4.98%
    37% 87 $14,115,000 $162,241 $4,397 5.04%
    40% 85 $15,605,000 $183,588 $4,346 4.88%
    36% 83 $13,545,000 $163,193 $3,744 5.01%
    49% 81 $14,975,000 $184,877 $3,998 4.78%
    39% 74 $12,520,000 $169,189 $3,752 5.02%
    38% 66 $11,460,000 $173,636 $4,215 5.14%
    45% 59 $10,615,000 $179,915 $3,933 4.93%
    47% 53 $10,675,000 $201,415 $4,260 4.75%
    46% 50 $11,270,000 $225,400 $4,885 4.78%
    48% 44 $7,920,000 $180,000 $3,971 4.91%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,798 $317,140,000 $176,385 $4,094 4.88%
    Not provided 115 $19,255,000 $167,435 $4,691 4.98%
    Black 76 $12,370,000 $162,763 $4,975 5.03%
    Asian 62 $11,230,000 $181,129 $5,280 5.08%
    American Indian 9 $1,805,000 $200,556 $3,923 4.96%
    Chinese 8 $680,000 $85,000 $2,553 5.58%
    Other Pacific Islander 1 $225,000 $225,000 $1,603 5.25%
    Asian Indian 1 $115,000 $115,000 $8,168 4.13%

    Approval Rates

    Total approvals of all applications
    95.66%

    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 origination
    88.79%

    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

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $4,630,000 $144,688 $2,997 4.61%
    40-60% 79 $14,295,000 $180,949 $2,883 4.50%
    60-80% 466 $85,550,000 $183,584 $3,196 4.90%
    80-100% 1,468 $253,130,000 $172,432 $4,479 4.94%
    Over 100% 24 $5,160,000 $215,000 $8,221 4.59%
    Under 20% 1 $55,000 $55,000 $428 4.50%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    First Colony Mortgage Corp. FHA mortgage Closing on a mortgage 1 100.0%