Liberty Bank For Savings Mortgage Rates, Fees & Info
Chicago, IL
LEI: 5493000TY1MM1LLTM666
Tax ID: 36-1385954
5 stars
-
out of 5 stars, based on 21 reviews
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Mortgage Data
Bank Data
Overview
Liberty Bank For Savings is a
smaller
bank
specializing in
Refi, Cash Out Refi, and Home Purchase loans.
Liberty Bank For Savings has a high proportion of conventional loans.
Their top markets include and Chicago among others. Liberty Bank For Savings has
an above average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
Liberty Bank For Savings is typically
a low fee
lendor.
Originations
452
Origination Dollar Volume (All Markets)
$131,650,000
Employee count
101
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Liberty Bank for Savings - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Liberty Bank For Savings's average 30 year fixed rate mortgage of loans were
3.07%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.08%.
Relative Fees
Liberty Bank For Savings's average total fees for a 30 year fixed rate
mortgage are $3,101.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
Liberty Bank For Savings's top markets include and Chicago among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
452 |
$131,650,000 |
$291,261 |
$2,546 |
2.82% |
For the 2021 period, Liberty Bank For Savings's most frequently
originated loan type
of loans were Conventional, with 452 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Refi |
244 |
$60,800,000 |
$249,180 |
$2,107 |
2.61% |
| Cash Out Refi |
102 |
$28,080,000 |
$275,294 |
$2,114 |
2.76% |
| Home Purchase |
100 |
$41,580,000 |
$415,800 |
$4,816 |
3.38% |
| Home Improvement |
4 |
$640,000 |
$160,000 |
$2,266 |
3.25% |
| Other |
2 |
$550,000 |
$275,000 |
$2,356 |
3.13% |
For the 2021, Liberty Bank For Savings's most frequently cited loan
purpose
of loans were Refi, with 244
originations.
The 2nd most popular reason of loans were Cash Out Refi,
with 102 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 30 Year |
151 |
$51,045,000 |
$338,046 |
$3,101 |
3.07% |
| 15 Year |
143 |
$37,445,000 |
$261,853 |
$2,267 |
2.64% |
| 10 Year |
83 |
$15,115,000 |
$182,108 |
$2,146 |
2.23% |
| 20 Year |
49 |
$13,095,000 |
$267,245 |
$2,251 |
2.89% |
| 5 Year |
25 |
$14,295,000 |
$571,800 |
$0 |
4.11% |
| Other |
1 |
$655,000 |
$655,000 |
$0 |
3.88% |
For the 2021, Liberty Bank For Savings's most frequently cited loan
length
of loans were 30 Year, with 151 originations.
The 2nd most popular length of loans were 15 Year,
with 143 originations.
Origination Fees
| Origination Fee |
Originations |
Total Value |
Average Loan |
| $<1k |
282 |
$78,120,000 |
$277,021 |
| $1k-2k |
86 |
$22,450,000 |
$261,047 |
$3,101 of loans were Liberty Bank For Savings's
average total fees, while their most
frequently occuring range of origination fees were in the
$<1k bucket,
with 282 originations.
Interest Rates
| Loan Rate |
Originations |
Total Value |
Average Loan |
| <2.5% |
180 |
$39,120,000 |
$217,333 |
| 2.5-3% |
144 |
$42,350,000 |
$294,097 |
| 3-4% |
108 |
$41,130,000 |
$380,833 |
| 4-5% |
20 |
$9,050,000 |
$452,500 |
During 2021, Liberty Bank For Savings's average interest
rate of loans were 3.07%, while their
most frequently originated rate bucket of loans were <2.5%,
with 180 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $200k-400k |
161 |
$43,655,000 |
$271,149 |
$2,571 |
2.83% |
| $100k-200k |
153 |
$22,715,000 |
$148,464 |
$2,355 |
2.65% |
| $400k-600k |
54 |
$26,520,000 |
$491,111 |
$2,870 |
3.22% |
| $100,000 or less |
42 |
$3,350,000 |
$79,762 |
$2,408 |
2.54% |
| $600k-1MM |
34 |
$26,160,000 |
$769,412 |
$2,700 |
3.07% |
| $1MM+ |
8 |
$9,250,000 |
$1,156,250 |
$6,095 |
3.63% |
2021 saw Liberty Bank For Savings place emphasis on
$200k-400k loans
with 161 originations, totaling
$43,655,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $100k-150k |
113 |
$26,565,000 |
$235,088 |
$2,500 |
2.73% |
| $150k-250k |
99 |
$29,935,000 |
$302,374 |
$2,527 |
2.62% |
| $75k-100k |
65 |
$12,035,000 |
$185,154 |
$2,555 |
2.76% |
| $250k+ |
59 |
$30,965,000 |
$524,831 |
$2,434 |
2.70% |
| $50k-75k |
54 |
$8,260,000 |
$152,963 |
$2,621 |
2.74% |
| $50k or less |
21 |
$2,405,000 |
$114,524 |
$2,796 |
2.58% |
Liberty Bank For Savings lent most frequently to those with incomes in the
$100k-150k range, with
113 originations.
The second most popular income band? $150k-250k,
with 99 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-30% |
142 |
$37,300,000 |
$262,676 |
$2,450 |
2.64% |
| <20% |
86 |
$22,770,000 |
$264,767 |
$2,328 |
2.60% |
| 30-36% |
68 |
$17,170,000 |
$252,500 |
$2,765 |
2.79% |
| 39% |
14 |
$4,090,000 |
$292,143 |
$3,029 |
2.84% |
| 37% |
14 |
$4,240,000 |
$302,857 |
$2,849 |
2.70% |
| 41% |
13 |
$3,685,000 |
$283,462 |
$2,625 |
2.67% |
| 40% |
12 |
$3,250,000 |
$270,833 |
$2,799 |
3.07% |
| 36% |
10 |
$2,220,000 |
$222,000 |
$2,492 |
2.66% |
| 42% |
8 |
$1,610,000 |
$201,250 |
$2,040 |
2.66% |
| 43% |
8 |
$2,030,000 |
$253,750 |
$2,853 |
3.08% |
| 48% |
7 |
$2,085,000 |
$297,857 |
$2,017 |
2.71% |
| 46% |
6 |
$1,070,000 |
$178,333 |
$2,175 |
3.19% |
| 38% |
6 |
$1,030,000 |
$171,667 |
$1,987 |
2.56% |
| 47% |
5 |
$2,135,000 |
$427,000 |
$3,490 |
2.63% |
| 44% |
5 |
$1,425,000 |
$285,000 |
$2,835 |
2.65% |
| 49% |
3 |
$625,000 |
$208,333 |
$3,185 |
2.54% |
| 45% |
2 |
$1,220,000 |
$610,000 |
$2,136 |
2.88% |
| >60% |
1 |
$2,005,000 |
$2,005,000 |
$6,979 |
3.13% |
| 50-60% |
1 |
$205,000 |
$205,000 |
$2,814 |
2.50% |
Liberty Bank For Savings lent most frequently to those with DTI ratios
of 20-30%, with
142 originations.
The next most common DTI ratio? <20%,
with 86 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| White |
266 |
$73,660,000 |
$276,917 |
$2,574 |
2.71% |
| Not provided |
113 |
$31,055,000 |
$274,823 |
$2,503 |
2.74% |
| Not applicable |
31 |
$17,705,000 |
$571,129 |
$0 |
4.11% |
| Asian |
17 |
$3,525,000 |
$207,353 |
$2,478 |
2.75% |
| Asian Indian |
8 |
$2,860,000 |
$357,500 |
$2,143 |
2.67% |
| Black |
13 |
$1,825,000 |
$140,385 |
$2,522 |
2.91% |
| American Indian |
1 |
$565,000 |
$565,000 |
$1,964 |
2.73% |
| Korean |
1 |
$205,000 |
$205,000 |
$4,288 |
2.88% |
| Japanese |
1 |
$125,000 |
$125,000 |
$0 |
3.63% |
| Chinese |
1 |
$125,000 |
$125,000 |
$2,255 |
2.13% |
Approval Rates
Total approvals of all applications
94.13%
Liberty Bank For Savings has an average approval rate.
Pick Rate
Approvals leading to origination
71.82%
Liberty Bank For Savings has a below average pick rate.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| NA |
452 |
$131,650,000 |
$291,261 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
452 |
$131,650,000 |
$291,261 |
LTV Distribution
| Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-40% |
76 |
$11,680,000 |
$153,684 |
$2,243 |
2.50% |
| 40-60% |
169 |
$46,155,000 |
$273,107 |
$2,273 |
2.66% |
| 60-80% |
173 |
$62,205,000 |
$359,566 |
$2,766 |
3.12% |
| 80-100% |
25 |
$10,415,000 |
$416,600 |
$4,044 |
3.03% |
| Under 20% |
9 |
$1,195,000 |
$132,778 |
$2,119 |
2.36% |
Complaints
| Bank Name |
Product |
Issue |
2021 CPFB Complaints |
% of Total Issues |
| Liberty Finance Co., Inc. |
Conventional home mortgage |
Struggling to pay mortgage |
1 |
100.0% |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| Liberty Bank For Savings |
1018 West Touhy Avenue Park Ridge, IL 60068 |
Full Service B&M
|
$49,030 |
| Liberty Bank For Savings |
2392 N Milwaukee Avenue Chicago, IL 60647 |
Full Service B&M
|
$147,449 |
| Liberty Bank For Savings |
6210 North Milwaukee Avenue Chicago, IL 60646 |
Full Service B&M
|
$133,472 |
| Liberty Bank For Savings |
6666 North Lincoln Avenue Lincolnwood, IL 60712 |
Full Service B&M
|
$85,248 |
| Liberty Bank For Savings |
7111 West Foster Avenue Chicago, IL 60656 |
Full Service B&M
|
$272,891 |
For 2021, Liberty Bank For Savings had 5 branches.
Yearly Performance Overview
Bank Income
Liberty Bank For Savings's gross interest income from loans was $21,393,000.
Liberty Bank For Savings's net interest income from loans was $19,399,000.
Liberty Bank For Savings's fee based income from loans was $134,000.
Liberty Bank For Savings's net income from loans was $3,006,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$1,994 |
| Provision for credit losses |
$-3 |
| Total noninterest expense |
$17,494 |
| Salaries and employee benefits |
$11,724 |
| Premises and equipment expense |
$2,612 |
| Additional noninterest expense |
$3,158 |
| Applicable income taxes |
$807 |
| Net charge-offs |
$55 |
| Cash dividends |
$0 |
Liberty Bank For Savings's interest expense for loans was $1,994,000.
Liberty Bank For Savings's payroll and benefits expense were $11,724,000.
Liberty Bank For Savings's property, plant and equipment expenses $2,612,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$696,775 |
| Deposits held in domestic offices |
$696,775 |
| Deposits by Individuals, partnerships, and corporations |
$696,776 |
| Deposits by U.S. Government |
$0 |
| Deposits by States and political subdivisions in the U.S. |
$0 |
| Deposits by Commercial banks and other depository institutions in U.S. |
$0 |
| Deposits by Banks in foreign countries |
$0 |
| Deposits by Foreign governments and official institutions |
$0 |
| Transaction accounts |
$44,969 |
| Demand deposits |
$9,629 |
| Nontransaction accounts |
$651,807 |
| Money market deposit accounts (MMDAs) |
$3,874 |
| Other savings deposits (excluding MMDAs) |
$441,197 |
| Total time deposits |
$206,734 |
| Total time and savings deposits |
$687,147 |
| Noninterest-bearing deposits |
$68,305 |
| Interest-bearing deposits |
$628,470 |
| Retail deposits |
$683,259 |
| IRAs and Keogh plan accounts |
$61,702 |
| Brokered deposits |
$0 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$910,613 |
| Cash & Balances due from depository institutions |
$2,770 |
| Interest-bearing balances |
$39 |
| Total securities |
$394,777 |
| Federal funds sold & reverse repurchase |
$2,948 |
| Net loans and leases |
$486,716 |
| Loan and leases loss allowance |
$3,094 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$10,623 |
| Other real estate owned |
$0 |
| Goodwill and other intangibles |
$130 |
| All other assets |
$12,649 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$910,613 |
| Total Liabilities |
$706,532 |
| Total deposits |
$696,775 |
| Interest-bearing deposits |
$628,470 |
| Deposits held in domestic offices |
$696,775 |
| % insured (estimated) |
$93 |
| Federal funds purchased and repurchase agreements |
$0 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$0 |
| Subordinated debt |
$0 |
| All other liabilities |
$9,757 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$486,716 |
| Loan and leases loss allowance |
$3,094 |
| Total loans and leases (domestic) |
$489,810 |
| All real estate loans |
$489,809 |
| Real estate loans in domestic offices |
$489,809 |
| Construction and development loans |
$0 |
| Residential 1-4 family construction |
$0 |
| Other construction, all land development and other land |
$0 |
| Loans secured by nonfarm nonresidential properties |
$3,836 |
| Nonfarm nonresidential secured by owner-occupied properties |
$1,814 |
| Commercial real estate & other non-farm, non-residential |
$2,022 |
| Multifamily residential real estate |
$49,921 |
| 1-4 family residential loans |
$436,052 |
| Farmland loans |
$0 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$0 |
| Commercial and industrial loans |
$0 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$0 |
| Credit card loans |
$0 |
| Related Plans |
$0 |
| Consumer Auto Loans |
$0 |
| Other loans to individuals |
$0 |
| All other loans & leases |
$0 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$0 |
| Loans to depository institutions and acceptances of other banks |
$0 |
| Loans not secured by real estate |
$0 |
| Loans secured by real estate to non-U.S. addressees |
$0 |
| Restructured Loans & leases |
$163 |
| Non 1-4 family restructured loans & leases |
$0 |
| Total loans and leases (foreign) |
$0 |
Liberty Bank for Savings had $486,716,000 of loans outstanding in 2021. $489,809,000 of loans were in real estate loans.
$0 of loans were in development loans. $49,921,000 of loans were in multifamily mortgage loans.
$436,052,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0
of loans were in credit card loans. $0 of loans were in the auto loan category.
Small Business Loans
| Categorization |
# of Loans in Category |
$ amount of loans (in 000's) |
Average $/loan |
| Nonfarm, nonresidential loans - <$1MM |
15 |
$3,131 |
$208,733 |
| Nonfarm, nonresidential loans - $100-250k |
6 |
$525 |
$87,500 |
| Nonfarm, nonresidential loans - $250k-1MM |
9 |
$2,606 |
$289,556 |
