Byline Bank Mortgage Rates, Fees & Info

Chicago, IL

LEI: 54930011HPXXLJN2D407

Tax ID: 36-2729588

5 stars - Updated: 3/28/24 - out of 5 stars, based on 9 reviews

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

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Mortgage Data

Review & Overview

Byline Bank is a smaller bank specializing in Home Purchase loans. Byline Bank has a high proportion of conventional loans. Byline Bank has an average proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Chicago, Kansas City, Charlotte, Milwaukee, and Minneapolis among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

Byline Bank 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. Byline Bank is typically a high 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.

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Originations

82

Origination Dollar Volume (All Markets)

$96,860,000

Relative Rate

Byline Bank's average 30 year fixed mortgage rate was 6.25%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.23%.

Relative Fees (Closing Costs)

Byline Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $9,002.

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) 42 $25,600,000 $609,524 $6,169 5.32%
KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $23,210,000 $11,605,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $20,200,000 $10,100,000 $7,596 6.38%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $6,060,000 $3,030,000 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 3 $4,295,000 $1,431,667 $0 0.00%
Whitewater, WI (FHA|USDA|VA) 3 $3,705,000 $1,235,000 $3,675 6.88%
Outside of Metro Areas 4 $3,290,000 $822,500 $6,471 6.88%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 7 $3,055,000 $436,429 $14,735 6.30%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $2,850,000 $1,425,000 $3,910 6.63%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $1,425,000 $1,425,000 $0 0.00%
ROCKFORD, IL (FHA|USDA|VA) 5 $865,000 $173,000 $0 0.00%
WICHITA, KS (FHA|USDA|VA) 1 $415,000 $415,000 $6,205 5.75%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $375,000 $375,000 $11,597 6.13%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $285,000 $285,000 $4,296 6.38%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $255,000 $255,000 $0 6.88%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $235,000 $235,000 $10,318 6.88%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $225,000 $225,000 $6,828 6.50%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $215,000 $215,000 $9,385 5.88%
BLOOMINGTON, IL (FHA|USDA|VA) 1 $195,000 $195,000 $6,355 6.63%
Plattsburgh, NY (FHA|USDA|VA) 1 $105,000 $105,000 $6,935 7.13%
Byline Bank's top markets include Chicago, Kansas City, Charlotte, Milwaukee, and Minneapolis among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 48 $87,120,000 $1,815,000 $0 0.00%
    Conventional 24 $6,190,000 $257,917 $5,366 5.94%
    FHA 8 $2,510,000 $313,750 $11,871 6.41%
    VA 2 $1,040,000 $520,000 $24,012 5.56%

    For 2023, Byline Bank's most frequently originated type of loan was Conventional, with 48 originations. Their 2nd most popular type was Conventional, with 24 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 66 $90,140,000 $1,365,758 $7,778 6.08%
    Refi 13 $4,635,000 $356,538 $0 4.50%
    Cash Out Refi 2 $880,000 $440,000 $17,748 6.00%
    Home Improvement 1 $1,205,000 $1,205,000 $0 0.00%

    For 2023, Byline Bank's most frequently cited loan purpose was Home Purchase, with 66 originations. The 2nd most popular reason was Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 48 $87,120,000 $1,815,000 $0 0.00%
    30 Year 31 $9,435,000 $304,355 $9,002 6.25%
    10 Year 2 $270,000 $135,000 $0 3.44%
    20 Year 1 $35,000 $35,000 $0 4.50%

    For 2023, Byline Bank's most frequently cited loan duration was Other, with 48 originations. The 2nd most popular length was 30 Year, with 31 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 12 $3,670,000 $305,833
    $2k-3k 6 $1,940,000 $323,333
    $5k+ 5 $2,085,000 $417,000
    $4k-5k 4 $1,210,000 $302,500
    $<1k 3 $305,000 $101,667
    $3k-4k 2 $430,000 $215,000

    Byline Bank's average total fees were $9,002, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 12 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 23 $7,405,000 $321,957
    5-6% 5 $1,865,000 $373,000
    7-8% 3 $415,000 $138,333
    <2.5% 2 $20,000 $10,000
    4-5% 1 $35,000 $35,000

    During 2023, Byline Bank's average interest rate for loans was 6.25%, while their most frequently originated rate bucket for loans was 6-7%, with 23 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 30 $8,470,000 $282,333 $7,755 6.47%
    $1MM+ 18 $76,180,000 $4,232,222 $0 0.00%
    $100k-200k 14 $1,990,000 $142,143 $6,337 6.63%
    $400k-600k 8 $3,720,000 $465,000 $6,225 6.40%
    $600k-1MM 8 $6,350,000 $793,750 $29,319 5.94%
    $100,000 or less 4 $150,000 $37,500 $0 2.91%

    2023 saw Byline Bank place emphasis on $200k-400k loans with 30 originations, totaling $8,470,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 11 $2,015,000 $183,182 $6,101 5.94%
    $150k-250k 8 $3,690,000 $461,250 $13,396 6.44%
    $100k-150k 7 $1,685,000 $240,714 $8,683 5.35%
    $75k-100k 7 $1,885,000 $269,286 $8,558 6.38%
    $250k+ 4 $1,230,000 $307,500 $2,701 6.63%
    $50k or less 1 $35,000 $35,000 $0 4.50%

    Byline Bank lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $150k-250k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 48 $87,120,000 $1,815,000 $0 0.00%
    30-36% 8 $1,550,000 $193,750 $6,156 4.86%
    50-60% 5 $2,005,000 $401,000 $14,654 6.08%
    48% 4 $1,640,000 $410,000 $13,993 6.31%
    44% 3 $1,285,000 $428,333 $5,681 6.38%
    20-30% 3 $785,000 $261,667 $3,273 5.75%
    43% 2 $320,000 $160,000 $7,638 7.13%
    46% 2 $500,000 $250,000 $5,478 6.63%
    39% 2 $480,000 $240,000 $3,414 6.69%
    40% 1 $95,000 $95,000 $0 7.13%
    41% 1 $215,000 $215,000 $2,423 6.63%
    49% 1 $275,000 $275,000 $9,936 6.63%
    <20% 1 $285,000 $285,000 $11,191 6.25%
    45% 1 $305,000 $305,000 $5,241 6.63%

    Byline Bank lent most frequently to those with DTI ratios of Exempt%, with 48 originations. The next most common DTI ratio? 30-36%, with 8 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 44 $86,320,000 $1,961,818 $0 0.00%
    White 26 $6,090,000 $234,231 $7,578 5.83%
    Not provided 6 $2,170,000 $361,667 $6,514 6.31%
    Asian 2 $1,190,000 $595,000 $15,473 6.50%
    Black 4 $1,090,000 $272,500 $9,865 6.47%

    Approval Rates

    Total approvals of all applications
    93.27%

    Byline Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.93%

    Byline Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 48 $87,120,000 $1,815,000
    NA 34 $9,740,000 $286,471

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    82 $96,860,000 $1,181,220

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 1 $285,000 $285,000 $11,191 6.25%
    60-80% 9 $2,925,000 $325,000 $9,837 6.39%
    80-100% 20 $6,220,000 $311,000 $8,558 6.49%
    Under 20% 4 $310,000 $77,500 $0 2.84%