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: 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.65% | 4/21/24 |
| 30 Year Conventional Refi | 6.37% | 4/21/24 |
| 30 Year Cash-out Refi | 6.63% | 4/21/24 |
| 30 Year FHA Purchase | 7.38% | 4/21/24 |
| 30 Year FHA Refi | 5.84% | 4/21/24 |
| 30 Year VA Purchase | 6.34% | 4/21/24 |
| 30 Year VA Refi | 5.89% | 4/21/24 |
| 30 Year USDA Purchase | 6.66% | 4/21/24 |
| 15 Year Conventional Purchase | 6.10% | 4/21/24 |
| 15 Year Conventional Refi | 6.06% | 4/21/24 |
| 15 Year Cash-out Refi | 6.06% | 4/21/24 |
| 15 Year FHA Purchase | 7.09% | 4/21/24 |
| 15 Year VA Purchase | 5.35% | 4/21/24 |
| 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
1,550Origination Dollar Volume (All Markets)
$334,970,000Awards
FIRST STATE MORTGAGE SERVICES - 2022
FIRST STATE MORTGAGE SERVICES is a 2022 , due to their low .
For 2022, 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 |
|---|---|---|---|---|---|
| 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% |
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 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
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
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
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
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
2022 saw First State Mortgage Services place emphasis on $100k-200k loans with 659 originations, totaling $96,165,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications96.45%
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 origination84.58%
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 |
LTV Distribution
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% |