State Bank Oftoulon Mortgage Rates, Fees & Info

Kewanee, IL

LEI: 5493005OG185XV8M8N52

Tax ID: 36-1818500

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    State Bank Oftoulon is a smaller bank specializing in Home Purchase loans. State Bank Oftoulon has a high proportion of conventional loans. Their top markets by origination volume include: Davenport, Peoria, and Ottawa among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    State Bank Oftoulon 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.

    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

    54

    Origination Dollar Volume (All Markets)

    $3,610,000

    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
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 35 $1,925,000 $55,000 $968 5.62%
    PEORIA, IL (FHA|USDA|VA) 13 $1,195,000 $91,923 $1,038 5.48%
    Outside of Metro Areas 4 $360,000 $90,000 $1,294 5.41%
    Ottawa, IL (FHA|USDA|VA) 2 $130,000 $65,000 $1,132 5.29%
    State Bank Oftoulon's top markets include Davenport, Peoria, and Ottawa among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 54 $3,610,000 $66,852 $1,026 5.56%

    For 2018, State Bank Oftoulon's most frequently originated type of loan was Conventional, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 26 $1,690,000 $65,000 $1,333 5.61%
    Home Improvement 12 $690,000 $57,500 $813 5.56%
    Cash Out Refi 7 $515,000 $73,571 $864 5.55%
    Other 5 $195,000 $39,000 $797 5.56%
    Refi 4 $520,000 $130,000 $890 5.24%

    For 2018, State Bank Oftoulon's most frequently cited loan purpose was Home Purchase, with 26 originations. The 2nd most popular reason was Home Improvement, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 42 $3,190,000 $75,952 $1,048 5.39%
    10 Year 5 $235,000 $47,000 $0 6.25%
    15 Year 3 $115,000 $38,333 $1,265 5.92%
    5 Year 3 $45,000 $15,000 $651 6.24%
    20 Year 1 $25,000 $25,000 $0 6.00%

    For 2018, State Bank Oftoulon's most frequently cited loan duration was Other, with 42 originations. The 2nd most popular length was 10 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 44 $3,250,000 $73,864

    State Bank Oftoulon's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 44 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 41 $2,955,000 $72,073
    6-7% 8 $270,000 $33,750
    4-5% 5 $385,000 $77,000

    During 2018, State Bank Oftoulon's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 41 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 39 $1,605,000 $41,154 $897 5.62%
    $100k-200k 14 $1,790,000 $127,857 $1,346 5.38%
    $200k-400k 1 $215,000 $215,000 $739 5.49%

    2018 saw State Bank Oftoulon place emphasis on $100,000 or less loans with 39 originations, totaling $1,605,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 14 $700,000 $50,000 $830 5.37%
    $75k-100k 14 $1,010,000 $72,143 $1,133 5.64%
    $50k-75k 13 $1,035,000 $79,615 $1,067 5.55%
    $100k-150k 6 $360,000 $60,000 $1,191 5.52%
    $150k-250k 6 $480,000 $80,000 $1,169 5.70%
    $250k+ 1 $25,000 $25,000 $0 6.75%

    State Bank Oftoulon lent most frequently to those with incomes in the $50k or less range, with 14 originations. The second most popular income band? $75k-100k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 16 $1,070,000 $66,875 $1,097 5.69%
    <20% 13 $675,000 $51,923 $973 5.36%
    30-36% 11 $835,000 $75,909 $1,128 5.52%
    >60% 2 $240,000 $120,000 $739 6.00%
    36% 2 $150,000 $75,000 $973 5.44%
    37% 2 $50,000 $25,000 $575 5.85%
    50-60% 2 $240,000 $120,000 $1,295 5.15%
    41% 1 $75,000 $75,000 $1,171 5.52%
    42% 1 $25,000 $25,000 $0 6.00%
    44% 1 $85,000 $85,000 $701 5.25%
    46% 1 $105,000 $105,000 $813 5.73%
    38% 1 $15,000 $15,000 $0 6.25%
    40% 1 $45,000 $45,000 $611 5.30%

    State Bank Oftoulon lent most frequently to those with DTI ratios of 20-30%, with 16 originations. The next most common DTI ratio? <20%, with 13 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 53 $3,575,000 $67,453 $1,037 5.56%
    Black 1 $35,000 $35,000 $575 5.69%

    Approval Rates

    Total approvals of all applications
    94.83%

    State Bank Oftoulon has an average approval rate.

    Pick Rate

    Approvals leading to origination
    98.15%

    State Bank Oftoulon has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 54 $3,610,000 $66,852

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 54 $3,610,000 $66,852

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $150,000 $25,000 $715 6.13%
    40-60% 9 $415,000 $46,111 $1,072 5.46%
    60-80% 22 $1,890,000 $85,909 $1,086 5.41%
    80-100% 16 $1,140,000 $71,250 $1,077 5.62%
    Under 20% 1 $15,000 $15,000 $507 5.52%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    STATE FARM BANK, FSB Conventional home mortgage Closing on a mortgage 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Struggling to pay mortgage 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Trouble during payment process 6 50.0%
    STATE FARM BANK, FSB Home equity loan or line of credit (HELOC) Trouble during payment process 2 16.7%
    STATE FARM BANK, FSB Other type of mortgage Trouble during payment process 2 16.7%