Byline Bank Mortgage Rates, Fees & Info
Chicago, ILLEI: 54930011HPXXLJN2D407
Tax ID: 36-2729588
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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.
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Originations
82Origination Dollar Volume (All Markets)
$96,860,000Relative 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% |
Product Mix
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
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
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
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
2023 saw Byline Bank place emphasis on $200k-400k loans with 30 originations, totaling $8,470,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications93.27%
Byline Bank has an average approval rate.
Pick Rate
Approvals leading to origination82.93%
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 |