First National Bank Of Waterloo Mortgage Rates, Fees & Info

Waterloo, IL

LEI: 5493002GOGIUXB84JB89

Tax ID: 37-0573575

5 stars - Updated: 11/17/24 - out of 5 stars, based on 14 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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)

    • Review & Overview

    First National Bank Of Waterloo is a smaller bank specializing in Home Purchase loans. First National Bank Of Waterloo has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Charleston, Effingham, Carbondale, and Mountain Home among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First National Bank Of Waterloo 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. First National Bank Of Waterloo 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 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.43% 11/17/24
    30 Year Conventional Refi 6.38% 11/17/24
    30 Year Cash-out Refi 6.67% 11/17/24
    15 Year Conventional Purchase 5.75% 11/17/24
    15 Year Conventional Refi 5.69% 11/17/24
    15 Year Cash-out Refi 5.69% 11/17/24
    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.

    First National Bank Of Waterloo Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from First National Bank Of Waterloo. 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

    191

    Origination Dollar Volume (All Markets)

    $32,515,000

    Awards

    First National Bank of Waterloo 30 Year Conventional Loans gold First National Bank of Waterloo 30 Year Conventional Loans gold
    Show all (2) awards

    Relative Rate

    First National Bank Of Waterloo's average 30 year fixed mortgage rate was 6.61%.

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

    This yields a difference of 0.13%.

    Relative Fees (Closing Costs)

    First National Bank Of Waterloo's average total fees/closing costs for a 30 year fixed rate mortgage were $1,693.

    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
    ST. LOUIS, MO-IL (FHA|USDA|VA) 161 $27,865,000 $173,075 $1,461 6.85%
    Outside of Metro Areas 15 $1,935,000 $129,000 $1,687 6.91%
    Charleston-Mattoon, IL (FHA|USDA|VA) 5 $805,000 $161,000 $1,757 6.93%
    Effingham, IL (FHA|USDA|VA) 3 $455,000 $151,667 $1,823 7.04%
    CARBONDALE-MARION, IL (FHA|USDA|VA) 2 $410,000 $205,000 $4,298 6.63%
    Mountain Home, AR (FHA|USDA|VA) 1 $245,000 $245,000 $1,901 3.95%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $215,000 $215,000 $3,501 7.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,260 6.75%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $205,000 $205,000 $1,944 6.75%
    Branson, MO (FHA|USDA|VA) 1 $175,000 $175,000 $2,424 7.00%
    First National Bank Of Waterloo's top markets include St. Louis, Charleston, Effingham, Carbondale, and Mountain Home among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against First National Bank of Waterloo based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Dieterich Bank
    Similarity Rank: 22
    Petefish, Skiles & Co.
    Similarity Rank: 68
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 96
    1ST MIDAMERICA
    Similarity Rank: 286
    CNB Bank And Trust, N.A.
    Similarity Rank: 323
    FIRST COMMUNITY
    Similarity Rank: 336
    First National Bank of Waterloo
    Similarity Rank: 340
    United Bank of Union
    Similarity Rank: 360
    VANTAGE Credit Union
    Similarity Rank: 371
    Bank of Hillsboro
    Similarity Rank: 459

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 191 $32,515,000 $170,236 $1,585 6.84%

    For 2023, First National Bank Of Waterloo's most frequently originated type of loan was Conventional, with 191 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 113 $22,845,000 $202,168 $1,855 6.90%
    Refi 45 $6,375,000 $141,667 $1,071 6.57%
    Home Improvement 23 $2,385,000 $103,696 $1,429 7.13%
    Other 7 $475,000 $67,857 $1,372 7.00%
    Cash Out Refi 3 $435,000 $145,000 $1,424 6.33%

    For 2023, First National Bank Of Waterloo's most frequently cited loan purpose was Home Purchase, with 113 originations. The 2nd most popular reason was Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 98 $20,570,000 $209,898 $1,693 6.61%
    15 Year 24 $3,290,000 $137,083 $1,629 6.45%
    20 Year 23 $2,265,000 $98,478 $1,355 7.39%
    5 Year 15 $2,615,000 $174,333 $541 6.96%
    Other 10 $1,360,000 $136,000 $366 7.26%
    3 Year 9 $1,395,000 $155,000 $0 7.72%
    10 Year 8 $370,000 $46,250 $1,338 7.22%
    1 Year 4 $650,000 $162,500 $0 7.44%

    For 2023, First National Bank Of Waterloo's most frequently cited loan duration was 30 Year, with 98 originations. The 2nd most popular length was 15 Year, with 24 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 132 $22,440,000 $170,000
    $5k+ 2 $900,000 $450,000
    $2k-3k 1 $295,000 $295,000
    $3k-4k 1 $165,000 $165,000
    $4k-5k 1 $215,000 $215,000

    First National Bank Of Waterloo's average total fees were $1,693, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 132 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 95 $17,595,000 $185,211
    7-8% 62 $9,080,000 $146,452
    5-6% 20 $3,170,000 $158,500
    Over 8% 7 $1,015,000 $145,000
    4-5% 5 $535,000 $107,000
    3-4% 2 $1,120,000 $560,000

    During 2023, First National Bank Of Waterloo's average interest rate for loans was 6.61%, while their most frequently originated rate bucket for loans was 6-7%, with 95 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 80 $4,790,000 $59,875 $1,308 6.99%
    $100k-200k 53 $7,745,000 $146,132 $1,744 6.65%
    $200k-400k 48 $13,640,000 $284,167 $1,776 6.86%
    $400k-600k 5 $2,525,000 $505,000 $900 6.89%
    $600k-1MM 5 $3,815,000 $763,000 $2,594 6.19%

    2023 saw First National Bank Of Waterloo place emphasis on $100,000 or less loans with 80 originations, totaling $4,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 32 $7,510,000 $234,688 $1,646 6.65%
    $100k-150k 31 $5,915,000 $190,806 $1,846 6.89%
    $50k-75k 26 $2,540,000 $97,692 $1,436 6.56%
    $75k-100k 25 $3,785,000 $151,400 $1,548 6.59%
    $50k or less 16 $1,190,000 $74,375 $1,590 6.85%
    $250k+ 11 $3,535,000 $321,364 $1,892 6.63%

    First National Bank Of Waterloo lent most frequently to those with incomes in the $150k-250k range, with 32 originations. The second most popular income band? $100k-150k, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 45 $7,445,000 $165,444 $1,672 6.81%
    20-30% 41 $6,115,000 $149,146 $1,601 6.60%
    <20% 14 $1,670,000 $119,286 $1,605 6.64%
    40% 7 $1,295,000 $185,000 $2,006 6.39%
    38% 7 $1,965,000 $280,714 $1,419 6.99%
    42% 6 $1,540,000 $256,667 $2,202 6.59%
    43% 5 $1,105,000 $221,000 $1,566 6.45%
    39% 5 $725,000 $145,000 $1,636 6.90%
    37% 4 $750,000 $187,500 $1,403 6.63%
    36% 4 $1,090,000 $272,500 $1,216 6.34%
    41% 3 $255,000 $85,000 $1,072 6.96%
    46% 3 $705,000 $235,000 $729 6.13%
    44% 2 $350,000 $175,000 $1,191 6.44%
    45% 1 $125,000 $125,000 $1,922 6.13%
    49% 1 $225,000 $225,000 $1,090 6.50%

    First National Bank Of Waterloo lent most frequently to those with DTI ratios of 30-36%, with 45 originations. The next most common DTI ratio? 20-30%, with 41 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 150 $24,630,000 $164,200 $1,585 6.69%
    Not applicable 34 $6,410,000 $188,529 $0 7.58%
    Not provided 5 $945,000 $189,000 $1,735 6.38%
    Other Asian 1 $275,000 $275,000 $1,970 7.38%
    Black 1 $255,000 $255,000 $440 6.38%

    Approval Rates

    Total approvals of all applications
    93.89%

    First National Bank Of Waterloo has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.43%

    First National Bank Of Waterloo has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 191 $32,515,000 $170,236

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    191 $32,515,000 $170,236

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $3,890,000 $121,563 $1,261 6.45%
    40-60% 32 $5,400,000 $168,750 $1,601 6.83%
    60-80% 55 $13,035,000 $237,000 $1,718 7.02%
    80-100% 48 $8,680,000 $180,833 $2,038 6.86%
    Under 20% 24 $1,510,000 $62,917 $1,080 6.94%