Liberty Bank For Savings Mortgage Rates, Fees & Info

Chicago, IL

LEI: 5493000TY1MM1LLTM666

Tax ID: 36-1385954

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Liberty Bank For Savings is a smaller bank specializing in Refi and 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.88% 4/18/24
    30 Year Conventional Refi 6.11% 4/18/24
    30 Year Cash-out Refi 6.17% 4/18/24
    15 Year Conventional Purchase 5.27% 4/18/24
    15 Year Conventional Refi 5.51% 4/18/24
    15 Year Cash-out Refi 5.51% 4/18/24
    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

    357

    Origination Dollar Volume (All Markets)

    $103,015,000

    Employee count

    100

    Awards

    Liberty Bank for Savings 30 Year Conventional Loans bronze
    Show all (1) 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) 357 $103,015,000 $288,557 $2,557 3.14%
    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.

    Liberty Bank for Savings
    Similarity Rank: 312
    Glenview State Bank
    Similarity Rank: 312
    CROWN MORTGAGE COMPANY
    Similarity Rank: 627
    AMERITRUST MORTGAGE CORPORATION
    Similarity Rank: 648
    The Equitable Bank, S.S.B.
    Similarity Rank: 820
    RUHL MORTGAGE, LLC
    Similarity Rank: 988
    United Community Bank
    Similarity Rank: 1360
    NEW FED MORTGAGE, CORP.
    Similarity Rank: 1610
    DuPage Credit Union
    Similarity Rank: 1824
    LAKE MORTGAGE COMPANY INC
    Similarity Rank: 1841

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 357 $103,015,000 $288,557 $2,557 3.14%

    For 2020, Liberty Bank For Savings's most frequently originated type of loan was Conventional, with 357 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 210 $57,470,000 $273,667 $2,097 2.96%
    Home Purchase 75 $27,235,000 $363,133 $4,712 3.40%
    Cash Out Refi 65 $17,375,000 $267,308 $2,075 3.44%
    Other 4 $670,000 $167,500 $2,144 3.16%
    Home Improvement 3 $265,000 $88,333 $2,296 3.21%

    For 2020, Liberty Bank For Savings's most frequently cited loan purpose was Refi, with 210 originations. The 2nd most popular reason was Home Purchase, with 75 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 153 $52,345,000 $342,124 $2,905 3.34%
    15 Year 103 $22,515,000 $218,592 $2,220 2.91%
    10 Year 50 $10,910,000 $218,200 $2,184 2.52%
    20 Year 27 $8,155,000 $302,037 $2,384 3.19%
    5 Year 16 $6,560,000 $410,000 $0 4.30%
    Other 8 $2,530,000 $316,250 $2,131 3.73%

    For 2020, Liberty Bank For Savings's most frequently cited loan duration was 30 Year, with 153 originations. The 2nd most popular length was 15 Year, with 103 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 228 $62,830,000 $275,570
    $1k-2k 78 $23,940,000 $306,923

    Liberty Bank For Savings's average total fees were $2,905, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 228 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 168 $51,670,000 $307,560
    2.5-3% 100 $27,960,000 $279,600
    <2.5% 65 $14,955,000 $230,077
    4-5% 22 $7,770,000 $353,182
    5-6% 2 $660,000 $330,000

    During 2020, Liberty Bank For Savings's average interest rate for loans was 3.34%, while their most frequently originated rate bucket for loans was 3-4%, with 168 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 128 $35,260,000 $275,469 $2,690 3.26%
    $100k-200k 127 $18,925,000 $149,016 $2,421 2.99%
    $400k-600k 49 $23,105,000 $471,531 $2,630 3.35%
    $600k-1MM 28 $20,080,000 $717,143 $2,527 3.22%
    $100,000 or less 22 $1,670,000 $75,909 $2,069 2.80%
    $1MM+ 3 $3,975,000 $1,325,000 $5,706 2.75%

    2020 saw Liberty Bank For Savings place emphasis on $200k-400k loans with 128 originations, totaling $35,260,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 92 $31,270,000 $339,891 $2,557 3.06%
    $100k-150k 89 $19,435,000 $218,371 $2,514 3.01%
    $250k+ 47 $24,875,000 $529,255 $2,658 3.01%
    $75k-100k 44 $7,900,000 $179,545 $2,726 3.01%
    $50k-75k 39 $5,985,000 $153,462 $2,471 3.13%
    $50k or less 16 $1,900,000 $118,750 $2,419 3.08%

    Liberty Bank For Savings lent most frequently to those with incomes in the $150k-250k range, with 92 originations. The second most popular income band? $100k-150k, with 89 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 120 $37,090,000 $309,083 $2,646 3.04%
    <20% 76 $18,830,000 $247,763 $2,389 2.97%
    30-36% 53 $16,135,000 $304,434 $2,478 3.08%
    38% 14 $4,040,000 $288,571 $2,287 3.21%
    39% 11 $3,415,000 $310,455 $3,360 3.10%
    36% 11 $2,565,000 $233,182 $2,954 2.85%
    42% 10 $2,560,000 $256,000 $2,970 3.22%
    40% 8 $1,550,000 $193,750 $2,335 3.20%
    41% 7 $1,125,000 $160,714 $2,422 3.07%
    37% 4 $1,020,000 $255,000 $2,862 3.00%
    48% 3 $525,000 $175,000 $2,129 2.63%
    45% 3 $785,000 $261,667 $3,111 3.21%
    44% 2 $530,000 $265,000 $2,300 2.88%
    43% 2 $510,000 $255,000 $1,964 3.00%
    50-60% 1 $285,000 $285,000 $1,965 3.38%
    47% 1 $235,000 $235,000 $2,305 3.88%
    49% 1 $165,000 $165,000 $1,968 2.75%

    Liberty Bank For Savings lent most frequently to those with DTI ratios of 20-30%, with 120 originations. The next most common DTI ratio? <20%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 235 $64,275,000 $273,511 $2,613 3.09%
    Not provided 76 $22,190,000 $291,974 $2,420 3.08%
    Not applicable 17 $6,805,000 $400,294 $0 4.38%
    Asian 13 $5,025,000 $386,538 $2,419 2.94%
    Asian Indian 4 $2,510,000 $627,500 $2,081 2.69%
    Black 7 $1,215,000 $173,571 $2,880 3.36%
    Chinese 2 $460,000 $230,000 $1,953 2.94%
    American Indian 2 $340,000 $170,000 $2,160 3.06%
    Filipino 1 $195,000 $195,000 $1,969 3.25%

    Approval Rates

    Total approvals of all applications
    94.03%

    Liberty Bank For Savings has an average approval rate.

    Pick Rate

    Approvals leading to origination
    55.18%

    Liberty Bank For Savings has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 357 $103,015,000 $288,557

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 20 $7,970,000 $398,500
    Single Family (1-4 Units):Site-Built 337 $95,045,000 $282,033

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 52 $10,030,000 $192,885 $2,175 3.05%
    40-60% 104 $24,510,000 $235,673 $2,257 2.81%
    60-80% 168 $55,030,000 $327,560 $2,711 3.35%
    80-100% 30 $13,230,000 $441,000 $3,422 3.29%
    Under 20% 3 $215,000 $71,667 $2,259 3.33%

    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 $49,924
    Liberty Bank For Savings 2392 N Milwaukee Avenue Chicago, IL 60647 Full Service B&M $135,330
    Liberty Bank For Savings 6210 North Milwaukee Avenue Chicago, IL 60646 Full Service B&M $125,696
    Liberty Bank For Savings 6666 North Lincoln Avenue Lincolnwood, IL 60712 Full Service B&M $78,252
    Liberty Bank For Savings 7111 West Foster Avenue Chicago, IL 60656 Full Service B&M $265,633

    For 2020, Liberty Bank For Savings had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $23,910
    Net interest income $19,340
    Total noninterest income $1,727
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $141
    Trading account gains and fees $0
    Additional Noninterest Income $1,586
    Pre-tax net operating income $3,955
    Securities gains (or losses, -) $62
    Income before extraordinary items $3,201
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,201
    Minority interest net income $0
    Net income $3,201
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,151

    Liberty Bank For Savings's gross interest income from loans was $23,910,000.
    Liberty Bank For Savings's net interest income from loans was $19,340,000.
    Liberty Bank For Savings's fee based income from loans was $141,000.
    Liberty Bank For Savings's net income from loans was $3,201,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,570
    Provision for credit losses $-2
    Total noninterest expense $17,114
    Salaries and employee benefits $11,235
    Premises and equipment expense $2,376
    Additional noninterest expense $3,503
    Applicable income taxes $816
    Net charge-offs $119
    Cash dividends $0

    Liberty Bank For Savings's interest expense for loans was $4,570,000.
    Liberty Bank For Savings's payroll and benefits expense were $11,235,000.
    Liberty Bank For Savings's property, plant and equipment expenses $2,376,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $663,016
    Deposits held in domestic offices $663,016
    Deposits by Individuals, partnerships, and corporations $663,016
    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 $40,950
    Demand deposits $8,811
    Nontransaction accounts $622,066
    Money market deposit accounts (MMDAs) $2,944
    Other savings deposits (excluding MMDAs) $383,269
    Total time deposits $235,855
    Total time and savings deposits $654,205
    Noninterest-bearing deposits $59,770
    Interest-bearing deposits $603,246
    Retail deposits $647,283
    IRAs and Keogh plan accounts $64,805
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $880,124
    Cash & Balances due from depository institutions $23,108
    Interest-bearing balances $84
    Total securities $341,662
    Federal funds sold & reverse repurchase $57,595
    Net loans and leases $435,899
    Loan and leases loss allowance $3,153
    Trading account assets $0
    Bank premises and fixed assets $10,984
    Other real estate owned $263
    Goodwill and other intangibles $251
    All other assets $10,362

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $880,124
    Total Liabilities $674,092
    Total deposits $663,016
    Interest-bearing deposits $603,246
    Deposits held in domestic offices $663,016
    % insured (estimated) $95
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $11,076

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $435,899
    Loan and leases loss allowance $3,153
    Total loans and leases (domestic) $439,052
    All real estate loans $439,052
    Real estate loans in domestic offices $439,052
    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 $4,105
    Nonfarm nonresidential secured by owner-occupied properties $1,804
    Commercial real estate & other non-farm, non-residential $2,301
    Multifamily residential real estate $40,619
    1-4 family residential loans $394,328
    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 $756
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Liberty Bank for Savings had $435,899,000 of loans outstanding in 2020. $439,052,000 of loans were in real estate loans. $0 of loans were in development loans. $40,619,000 of loans were in multifamily mortgage loans. $394,328,000 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 $3,184 $212,267
    Nonfarm, nonresidential loans - $100-250k 7 $724 $103,429
    Nonfarm, nonresidential loans - $250k-1MM 8 $2,460 $307,500