Liberty Bank For Savings Mortgage Rates, Fees & Info

Chicago, IL

LEI: 5493000TY1MM1LLTM666

Tax ID: 36-1385954

5 stars - Updated: 9/25/23 - out of 5 stars, based on 15 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Liberty Bank For Savings is a smaller bank specializing in Home Purchase loans. Liberty Bank For Savings has a high proportion of conventional loans. Their top (well, only) market is Chicago.

    Liberty Bank For Savings 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. Liberty Bank For Savings 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 5.88% 9/25/23
    30 Year Conventional Refi 6.11% 9/25/23
    30 Year Cash-out Refi 6.17% 9/25/23
    15 Year Conventional Purchase 5.27% 9/25/23
    15 Year Conventional Refi 5.51% 9/25/23
    15 Year Cash-out Refi 5.51% 9/25/23
    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.

    Liberty Bank For Savings Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Liberty Bank For Savings. 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

    217

    Origination Dollar Volume (All Markets)

    $87,315,000

    Awards

    Liberty Bank for Savings 30 Year Conventional Loans bronze Liberty Bank for Savings 30 Year Conventional Loans bronze Liberty Bank for Savings 30 Year Conventional Loans bronze
    Show all (3) awards

    Relative Rate

    Liberty Bank For Savings's average 30 year fixed mortgage rate was 4.35%.

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

    This yields a difference of -0.41%.

    Relative Fees (Closing Costs)

    Liberty Bank For Savings's average total fees/closing costs for a 30 year fixed rate mortgage were $4,562.

    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
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 217 $87,315,000 $402,373 $3,979 4.09%
    Liberty Bank For Savings's top markets include and Chicago among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)

    • Similar Lenders

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

    First Savings Bank of Hegewisch
    Similarity Rank: 30
    Liberty Bank for Savings
    Similarity Rank: 153
    The Equitable Bank, S.S.B.
    Similarity Rank: 636
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 840
    DuPage Credit Union
    Similarity Rank: 933
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 936
    Providence Bank & Trust
    Similarity Rank: 1144
    CROWN MORTGAGE COMPANY
    Similarity Rank: 1252
    PARTNERSHIP FINANCIAL
    Similarity Rank: 1260
    AMERITRUST MORTGAGE CORPORATION
    Similarity Rank: 1722

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 217 $87,315,000 $402,373 $3,979 4.09%

    For 2022, Liberty Bank For Savings's most frequently originated type of loan was Conventional, with 217 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 124 $57,000,000 $459,677 $5,126 4.42%
    Refi 51 $16,165,000 $316,961 $2,163 3.39%
    Cash Out Refi 33 $12,535,000 $379,848 $2,355 4.04%
    Other 5 $805,000 $161,000 $2,206 3.60%
    Home Improvement 4 $810,000 $202,500 $2,222 3.59%

    For 2022, Liberty Bank For Savings's most frequently cited loan purpose was Home Purchase, with 124 originations. The 2nd most popular reason was Refi, with 51 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 104 $38,660,000 $371,731 $4,562 4.35%
    15 Year 51 $14,485,000 $284,020 $3,175 3.33%
    5 Year 36 $26,540,000 $737,222 $0 4.94%
    20 Year 14 $4,200,000 $300,000 $3,670 3.74%
    10 Year 11 $3,175,000 $288,636 $2,963 2.70%
    Other 1 $255,000 $255,000 $0 5.50%

    For 2022, Liberty Bank For Savings's most frequently cited loan duration was 30 Year, with 104 originations. The 2nd most popular length was 15 Year, with 51 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 119 $38,705,000 $325,252
    $1k-2k 49 $17,745,000 $362,143
    $2k-3k 1 $505,000 $505,000

    Liberty Bank For Savings's average total fees were $4,562, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 119 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 88 $34,450,000 $391,477
    3-4% 56 $23,360,000 $417,143
    2.5-3% 26 $8,000,000 $307,692
    5-6% 21 $14,995,000 $714,048
    <2.5% 18 $3,870,000 $215,000
    6-7% 8 $2,640,000 $330,000

    During 2022, Liberty Bank For Savings's average interest rate for loans was 4.35%, while their most frequently originated rate bucket for loans was 4-5%, with 88 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 88 $25,350,000 $288,068 $3,921 4.22%
    $100k-200k 44 $6,520,000 $148,182 $3,144 3.52%
    $400k-600k 43 $20,415,000 $474,767 $4,585 4.29%
    $600k-1MM 25 $18,135,000 $725,400 $5,353 4.31%
    $1MM+ 9 $16,225,000 $1,802,778 $3,605 4.39%
    $100,000 or less 8 $670,000 $83,750 $3,599 3.64%

    2022 saw Liberty Bank For Savings place emphasis on $200k-400k loans with 88 originations, totaling $25,350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 52 $20,680,000 $397,692 $4,420 4.02%
    $100k-150k 47 $13,495,000 $287,128 $3,784 4.00%
    $250k+ 28 $17,170,000 $613,214 $4,516 3.84%
    $50k-75k 25 $3,925,000 $157,000 $3,458 3.99%
    $75k-100k 21 $4,345,000 $206,905 $3,470 3.43%
    $50k or less 6 $610,000 $101,667 $3,543 3.88%

    Liberty Bank For Savings lent most frequently to those with incomes in the $150k-250k range, with 52 originations. The second most popular income band? $100k-150k, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 46 $16,060,000 $349,130 $4,091 3.61%
    30-36% 42 $15,530,000 $369,762 $3,993 3.87%
    <20% 32 $9,860,000 $308,125 $3,843 3.80%
    37% 10 $3,040,000 $304,000 $3,865 4.31%
    39% 9 $2,045,000 $227,222 $3,311 4.13%
    41% 8 $2,200,000 $275,000 $3,587 4.42%
    42% 6 $3,080,000 $513,333 $5,453 4.40%
    40% 6 $1,300,000 $216,667 $3,966 3.96%
    38% 5 $1,785,000 $357,000 $4,036 4.55%
    47% 4 $1,790,000 $447,500 $4,583 4.16%
    43% 3 $1,325,000 $441,667 $3,691 4.54%
    48% 3 $1,155,000 $385,000 $4,109 3.58%
    49% 1 $215,000 $215,000 $5,109 4.38%
    36% 1 $205,000 $205,000 $2,483 3.63%
    44% 1 $135,000 $135,000 $2,326 2.50%
    45% 1 $345,000 $345,000 $5,064 4.63%
    46% 1 $155,000 $155,000 $2,079 4.38%

    Liberty Bank For Savings lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 127 $44,005,000 $346,496 $3,900 3.93%
    Not applicable 28 $21,070,000 $752,500 $0 5.13%
    Not provided 43 $13,795,000 $320,814 $3,946 3.96%
    Asian 8 $3,370,000 $421,250 $5,317 3.81%
    Asian Indian 5 $3,025,000 $605,000 $5,078 3.98%
    Black 5 $1,825,000 $365,000 $2,876 3.70%
    American Indian 1 $225,000 $225,000 $4,979 5.50%

    Approval Rates

    Total approvals of all applications
    95.82%

    Liberty Bank For Savings 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
    72.35%

    Liberty Bank For Savings has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 217 $87,315,000 $402,373

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    217 $87,315,000 $402,373

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $7,040,000 $270,769 $2,581 3.93%
    40-60% 57 $21,255,000 $372,895 $3,074 3.84%
    60-80% 96 $43,880,000 $457,083 $4,409 4.21%
    80-100% 36 $14,660,000 $407,222 $4,770 4.20%
    Under 20% 2 $480,000 $240,000 $0 5.19%