Liberty Bank For Savings Mortgage Rates, Fees & Info
Chicago, ILLEI: 5493000TY1MM1LLTM666
Tax ID: 36-1385954
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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 (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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 5.88% | 10/29/24 |
30 Year Conventional Refi | 6.11% | 10/29/24 |
30 Year Cash-out Refi | 6.17% | 10/29/24 |
15 Year Conventional Purchase | 5.27% | 10/29/24 |
15 Year Conventional Refi | 5.51% | 10/29/24 |
15 Year Cash-out Refi | 5.51% | 10/29/24 |
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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
217Origination Dollar Volume (All Markets)
$87,315,000Liberty Bank for Savings - 2022
Liberty Bank for Savings 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 |
---|---|---|---|---|---|
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 217 | $87,315,000 | $402,373 | $3,979 | 4.09% |
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.
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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
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
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
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
2022 saw Liberty Bank For Savings place emphasis on $200k-400k loans with 88 originations, totaling $25,350,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications95.82%
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 origination72.35%
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 |