First National Bank Of Waterloo Mortgage Rates, Fees & Info

Waterloo, IL

LEI: 5493002GOGIUXB84JB89

Tax ID: 37-0573575

5 stars - Updated: 9/18/23 - out of 5 stars, based on 19 reviews

Latest/2022 | 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
  • Complaints
  • 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 and Refi loans. First National Bank Of Waterloo has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Effingham, Branson, Daphne, and Charleston among others. We have data for 12 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 an above 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 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 6.43% 9/18/23
    30 Year Conventional Refi 6.38% 9/18/23
    30 Year Cash-out Refi 6.67% 9/18/23
    15 Year Conventional Purchase 5.75% 9/18/23
    15 Year Conventional Refi 5.69% 9/18/23
    15 Year Cash-out Refi 5.69% 9/18/23
    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

    355

    Origination Dollar Volume (All Markets)

    $91,365,000

    Awards

    First National Bank of Waterloo 30 Year Conventional Loans gold First National Bank of Waterloo 30 Year Conventional Loans gold First National Bank of Waterloo 30 Year Conventional Loans gold
    Show all (3) awards

    Relative Rate

    First National Bank Of Waterloo's average 30 year fixed mortgage rate was 4.18%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.58%.

    Relative Fees (Closing Costs)

    First National Bank Of Waterloo's average total fees/closing costs for a 30 year fixed rate mortgage were $1,715.

    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 $4,750.

    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) 297 $77,505,000 $260,960 $1,599 4.21%
    Effingham, IL (FHA|USDA|VA) 27 $6,685,000 $247,593 $1,399 3.72%
    Outside of Metro Areas 19 $3,025,000 $159,211 $1,612 3.59%
    Branson, MO (FHA|USDA|VA) 2 $790,000 $395,000 $0 4.13%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $715,000 $715,000 $3,404 3.75%
    Charleston-Mattoon, IL (FHA|USDA|VA) 2 $680,000 $340,000 $1,736 3.94%
    CARBONDALE-MARION, IL (FHA|USDA|VA) 2 $570,000 $285,000 $2,517 3.81%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $425,000 $425,000 $4,483 3.95%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $375,000 $375,000 $2,178 3.25%
    COLUMBIA, MO (FHA|USDA|VA) 1 $335,000 $335,000 $1,966 4.55%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $205,000 $205,000 $0 6.75%
    Mount Vernon, IL (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.25%
    First National Bank Of Waterloo's top markets include St. Louis, Effingham, Branson, Daphne, and Charleston among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (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.

    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 209
    Town & Country Bank
    Similarity Rank: 328
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 518
    JERSEY STATE BANK
    Similarity Rank: 580
    U S WIDE FINANCIAL LLC
    Similarity Rank: 720
    First National Bank of Waterloo
    Similarity Rank: 804
    ALLTRU Federal Credit Union
    Similarity Rank: 884
    HNB National Bank
    Similarity Rank: 980
    WEST COMMUNITY
    Similarity Rank: 1164
    United Bank of Union
    Similarity Rank: 1197

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 355 $91,365,000 $257,366 $1,612 4.14%

    For 2022, First National Bank Of Waterloo's most frequently originated type of loan was Conventional, with 355 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 207 $61,585,000 $297,512 $1,802 4.26%
    Refi 100 $24,530,000 $245,300 $1,426 3.89%
    Home Improvement 19 $1,375,000 $72,368 $1,246 4.26%
    Cash Out Refi 15 $2,795,000 $186,333 $1,526 3.87%
    Other 14 $1,080,000 $77,143 $1,369 4.36%

    For 2022, First National Bank Of Waterloo's most frequently cited loan purpose was Home Purchase, with 207 originations. The 2nd most popular reason was Refi, with 100 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 178 $42,730,000 $240,056 $1,715 4.18%
    15 Year 52 $8,640,000 $166,154 $1,477 3.56%
    5 Year 52 $13,790,000 $265,192 $1,284 4.43%
    20 Year 30 $3,710,000 $123,667 $1,434 4.19%
    Other 20 $6,130,000 $306,500 $1,486 4.09%
    10 Year 17 $2,065,000 $121,471 $1,281 4.12%
    3 Year 3 $14,015,000 $4,671,667 $0 6.61%
    1 Year 3 $285,000 $95,000 $1,399 4.25%

    For 2022, First National Bank Of Waterloo's most frequently cited loan duration was 30 Year, with 178 originations. The 2nd most popular length was 15 Year, with 52 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 241 $53,425,000 $221,680
    $1k-2k 1 $165,000 $165,000
    $2k-3k 1 $195,000 $195,000

    First National Bank Of Waterloo's average total fees were $1,715, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 241 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 189 $43,485,000 $230,079
    4-5% 82 $33,750,000 $411,585
    5-6% 46 $7,650,000 $166,304
    2.5-3% 22 $4,590,000 $208,636
    6-7% 10 $1,340,000 $134,000
    7-8% 3 $145,000 $48,333
    <2.5% 2 $320,000 $160,000
    Over 8% 1 $85,000 $85,000

    During 2022, First National Bank Of Waterloo's average interest rate for loans was 4.18%, while their most frequently originated rate bucket for loans was 3-4%, with 189 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 117 $16,475,000 $140,812 $1,700 4.09%
    $100,000 or less 99 $5,765,000 $58,232 $1,344 4.38%
    $200k-400k 98 $26,960,000 $275,102 $1,782 4.02%
    $400k-600k 28 $13,950,000 $498,214 $1,263 3.91%
    $600k-1MM 10 $7,010,000 $701,000 $1,725 4.19%
    $1MM+ 3 $21,205,000 $7,068,333 $0 4.37%

    2022 saw First National Bank Of Waterloo place emphasis on $100k-200k loans with 117 originations, totaling $16,475,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 78 $14,690,000 $188,333 $1,692 4.32%
    $150k-250k 69 $20,435,000 $296,159 $1,626 4.09%
    $75k-100k 41 $5,555,000 $135,488 $1,613 4.29%
    $50k-75k 36 $5,140,000 $142,778 $1,474 4.04%
    $50k or less 30 $2,650,000 $88,333 $1,598 3.88%
    $250k+ 20 $7,800,000 $390,000 $1,749 3.90%

    First National Bank Of Waterloo lent most frequently to those with incomes in the $100k-150k range, with 78 originations. The second most popular income band? $150k-250k, with 69 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 74 $15,560,000 $210,270 $1,639 4.17%
    30-36% 68 $13,160,000 $193,529 $1,619 4.08%
    <20% 39 $7,455,000 $191,154 $1,734 3.84%
    38% 24 $5,250,000 $218,750 $1,537 4.45%
    39% 17 $4,425,000 $260,294 $1,567 4.05%
    37% 17 $3,215,000 $189,118 $1,417 4.33%
    36% 11 $1,725,000 $156,818 $1,544 4.00%
    41% 7 $1,575,000 $225,000 $1,365 3.76%
    40% 7 $1,535,000 $219,286 $1,376 3.69%
    42% 6 $1,060,000 $176,667 $1,975 4.18%
    43% 4 $1,070,000 $267,500 $1,270 4.63%
    44% 2 $450,000 $225,000 $2,050 3.99%
    50-60% 2 $430,000 $215,000 $1,754 6.36%
    47% 1 $65,000 $65,000 $1,424 6.25%
    48% 1 $775,000 $775,000 $2,084 5.40%
    49% 1 $275,000 $275,000 $2,337 4.88%

    First National Bank Of Waterloo lent most frequently to those with DTI ratios of 20-30%, with 74 originations. The next most common DTI ratio? 30-36%, with 68 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 272 $56,820,000 $208,897 $1,608 4.10%
    Not applicable 73 $32,815,000 $449,521 $0 4.16%
    Asian 4 $750,000 $187,500 $2,038 4.63%
    Black 2 $460,000 $230,000 $2,201 5.05%
    Not provided 3 $375,000 $125,000 $1,111 5.88%
    American Indian 1 $145,000 $145,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    95.86%

    First National Bank Of Waterloo has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    90.42%

    First National Bank Of Waterloo has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 355 $91,365,000 $257,366

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    355 $91,365,000 $257,366

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $3,235,000 $104,355 $1,492 4.42%
    40-60% 54 $17,620,000 $326,296 $1,570 4.02%
    60-80% 144 $46,680,000 $324,167 $1,568 4.01%
    80-100% 101 $22,605,000 $223,812 $1,831 4.24%
    Over 100% 1 $85,000 $85,000 $0 8.97%
    Under 20% 24 $1,140,000 $47,500 $1,229 4.22%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%