Ipava State Bank Mortgage Rates, Fees & Info

Ipava, IL

LEI: 5493005QZNPGRQNTRB15

Tax ID: 37-0348120

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Mortgage Data

Review & Overview

Ipava State Bank is a smaller bank specializing in Home Purchase loans. Ipava State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Peoria, North Port, Cape Coral, St. Louis, and Galesburg among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Ipava State Bank has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

67

Origination Dollar Volume (All Markets)

$10,395,000

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
PEORIA, IL (FHA|USDA|VA) 55 $6,485,000 $117,909 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 5 $2,515,000 $503,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $475,000 $475,000 $0 0.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
Galesburg, IL (FHA|USDA|VA) 2 $220,000 $110,000 $0 0.00%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
Ottawa, IL (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Macomb, IL (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Ipava State Bank's top markets include Peoria, North Port, Cape Coral, St. Louis, and Galesburg among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 67 $10,395,000 $155,149 $0 0.00%

    For 2023, Ipava State Bank's most frequently originated type of loan was Conventional, with 67 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 41 $8,765,000 $213,780 $0 0.00%
    Home Improvement 13 $755,000 $58,077 $0 0.00%
    Refi 9 $715,000 $79,444 $0 0.00%
    Other 3 $85,000 $28,333 $0 0.00%
    Cash Out Refi 1 $75,000 $75,000 $0 0.00%

    For 2023, Ipava State Bank's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Home Improvement, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 67 $10,395,000 $155,149 $0 0.00%

    For 2023, Ipava State Bank's most frequently cited loan duration was Other, with 67 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 38 $1,640,000 $43,158 $0 0.00%
    $100k-200k 14 $1,950,000 $139,286 $0 0.00%
    $200k-400k 10 $3,070,000 $307,000 $0 0.00%
    $400k-600k 3 $1,395,000 $465,000 $0 0.00%
    $1MM+ 2 $2,340,000 $1,170,000 $0 0.00%

    2023 saw Ipava State Bank place emphasis on $100,000 or less loans with 38 originations, totaling $1,640,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 17 $2,765,000 $162,647 $0 0.00%
    $150k-250k 12 $2,760,000 $230,000 $0 0.00%
    $50k or less 9 $395,000 $43,889 $0 0.00%
    $75k-100k 9 $545,000 $60,556 $0 0.00%
    $50k-75k 6 $400,000 $66,667 $0 0.00%
    $250k+ 4 $1,820,000 $455,000 $0 0.00%

    Ipava State Bank lent most frequently to those with incomes in the $100k-150k range, with 17 originations. The second most popular income band? $150k-250k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 67 $10,395,000 $155,149 $0 0.00%

    Ipava State Bank lent most frequently to those with DTI ratios of Exempt%, with 67 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 58 $7,360,000 $126,897 $0 0.00%
    Not provided 2 $1,360,000 $680,000 $0 0.00%
    Not applicable 6 $1,160,000 $193,333 $0 0.00%
    Black 1 $515,000 $515,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.61%

    Ipava State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.01%

    Ipava State Bank 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
    Exempt 67 $10,395,000 $155,149

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    67 $10,395,000 $155,149