Liberty Bank For Savings Mortgage Rates, Fees & Info
Chicago, ILLEI: 5493000TY1MM1LLTM666
Tax ID: 36-1385954
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
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 two markets are Chicago and Ottawa .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 an average 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 relatively high 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% | 11/17/24 |
| 30 Year Conventional Refi | 6.11% | 11/17/24 |
| 30 Year Cash-out Refi | 6.17% | 11/17/24 |
| 15 Year Conventional Purchase | 5.27% | 11/17/24 |
| 15 Year Conventional Refi | 5.51% | 11/17/24 |
| 15 Year Cash-out Refi | 5.51% | 11/17/24 |
| 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. | ||
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
191Origination Dollar Volume (All Markets)
$81,395,000Awards
Liberty Bank for Savings - 2023
Liberty Bank for Savings is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
Work for Liberty Bank for Savings?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Liberty Bank For Savings's average 30 year fixed mortgage rate was
6.38%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.1%.
Relative Fees (Closing Costs)
Liberty Bank For Savings's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,198.
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 $9,089.
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) | 189 | $80,725,000 | $427,116 | $5,069 | 6.23% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,745 | 6.38% |
| Outside of Metro Areas | 1 | $265,000 | $265,000 | $3,571 | 5.88% |
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.
Similarity Rank: 46
Similarity Rank: 279
Similarity Rank: 417
Similarity Rank: 423
Similarity Rank: 523
Similarity Rank: 934
Similarity Rank: 1000
Similarity Rank: 1216
Similarity Rank: 1243
Similarity Rank: 1273
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 191 | $81,395,000 | $426,152 | $5,048 | 6.23% |
For 2023, Liberty Bank For Savings's most frequently originated type of loan was Conventional, with 191 originations.
Loan Reason
For 2023, Liberty Bank For Savings's most frequently cited loan purpose was Home Purchase, with 162 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.
Loan Duration/Length
For 2023, Liberty Bank For Savings's most frequently cited loan duration was 30 Year, with 126 originations. The 2nd most popular length was 5 Year, with 47 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 93 | $33,675,000 | $362,097 |
| $1k-2k | 46 | $18,580,000 | $403,913 |
Liberty Bank For Savings's average total fees were $5,198, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 93 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 93 | $43,355,000 | $466,183 |
| 5-6% | 73 | $30,795,000 | $421,849 |
| 7-8% | 19 | $5,775,000 | $303,947 |
| 4-5% | 6 | $1,470,000 | $245,000 |
During 2023, Liberty Bank For Savings's average interest rate for loans was 6.38%, while their most frequently originated rate bucket for loans was 6-7%, with 93 originations.
Loan Sizing
2023 saw Liberty Bank For Savings place emphasis on $200k-400k loans with 78 originations, totaling $23,700,000 in origination value.
Applicant Income
Liberty Bank For Savings lent most frequently to those with incomes in the $150k-250k range, with 46 originations. The second most popular income band? $250k+, with 39 originations.
Applicant Debt to Income Ratio
Liberty Bank For Savings lent most frequently to those with DTI ratios of 20-30%, with 47 originations. The next most common DTI ratio? 30-36%, with 30 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.13%
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 origination75.92%
Liberty Bank For Savings has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 191 | $81,395,000 | $426,152 |