Senb Bank Mortgage Rates, Fees & Info

Moline, IL

LEI: 5493007US5XO6WCOMQ49

Tax ID: 36-2440502

5 stars - out of 5 stars, based on 16 reviews

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

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Mortgage Data

Review & Overview

Senb Bank is a smaller bank specializing in Home Purchase and Refi loans. Senb Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Davenport, Rockford, Chicago, Janesville, and Clinton among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

Senb 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. Senb Bank 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.

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 6.33% 4/2/23
30 Year Conventional Refi 6.27% 4/2/23
30 Year USDA Purchase 6.56% 4/2/23
15 Year Conventional Purchase 5.99% 4/2/23
15 Year Conventional Refi 5.97% 4/2/23
15 Year Cash-out Refi 5.97% 4/2/23
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.

Senb Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Senb Bank. 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

265

Origination Dollar Volume (All Markets)

$58,865,000
Show all (11) awards

Relative Rate

Senb Bank's average 30 year fixed mortgage rate was 4.72%.

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

This yields a difference of -0.04%.

Relative Fees (Closing Costs)

Senb Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,300.

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
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 185 $30,925,000 $167,162 $2,066 4.67%
ROCKFORD, IL (FHA|USDA|VA) 16 $7,060,000 $441,250 $2,915 5.30%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 6 $6,570,000 $1,095,000 $5,829 5.06%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 28 $4,570,000 $163,214 $2,346 4.93%
Clinton, IA (FHA|USDA|VA) 5 $2,715,000 $543,000 $1,298 4.14%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $1,315,000 $1,315,000 $4,185 4.88%
Muscatine, IA (FHA|USDA|VA) 4 $960,000 $240,000 $2,767 5.03%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $645,000 $645,000 $9,266 4.88%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $635,000 $635,000 $8,519 5.75%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $490,000 $245,000 $3,056 3.81%
MADISON, WI (FHA|USDA|VA) 1 $425,000 $425,000 $3,286 5.50%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $330,000 $165,000 $3,243 4.69%
THE VILLAGES, FL (FHA|USDA|VA) 1 $315,000 $315,000 $4,368 4.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $300,000 $150,000 $2,864 4.75%
Outside of Metro Areas 2 $260,000 $130,000 $3,170 5.63%
JACKSON, TN (FHA|USDA|VA) 1 $255,000 $255,000 $3,286 5.75%
IOWA CITY, IA (FHA|USDA|VA) 1 $255,000 $255,000 $2,124 5.13%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $245,000 $245,000 $3,074 5.75%
Hannibal, MO (FHA|USDA|VA) 1 $205,000 $205,000 $1,814 4.25%
Ottawa, IL (FHA|USDA|VA) 1 $115,000 $115,000 $3,561 6.88%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $115,000 $115,000 $2,174 4.88%
Macomb, IL (FHA|USDA|VA) 1 $95,000 $95,000 $2,555 5.25%
Burlington, IA-IL (FHA|USDA|VA) 1 $65,000 $65,000 $2,494 4.63%
Senb Bank's top markets include Davenport, Rockford, Chicago, Janesville, and Clinton among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Similar Lenders

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

    The Greenwood's State Bank
    Similarity Rank: 90
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    Similarity Rank: 180
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    GAS AND ELECTRIC CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 249 $57,045,000 $229,096 $2,297 4.79%
    USDA 16 $1,820,000 $113,750 $3,242 4.43%

    For 2022, Senb Bank's most frequently originated type of loan was Conventional, with 249 originations. Their 2nd most popular type was USDA, with 16 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 190 $35,920,000 $189,053 $2,466 4.85%
    Refi 54 $16,410,000 $303,889 $2,100 4.44%
    Other 14 $5,860,000 $418,571 $2,488 4.61%
    Home Improvement 7 $675,000 $96,429 $867 5.68%

    For 2022, Senb Bank's most frequently cited loan purpose was Home Purchase, with 190 originations. The 2nd most popular reason was Refi, with 54 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 154 $28,620,000 $185,844 $2,300 4.72%
    Other 31 $9,615,000 $310,161 $3,128 5.26%
    5 Year 29 $2,735,000 $94,310 $3,246 5.53%
    15 Year 28 $9,850,000 $351,786 $2,329 3.40%
    1 Year 14 $2,390,000 $170,714 $1,168 5.06%
    20 Year 8 $1,550,000 $193,750 $2,121 5.61%
    10 Year 1 $4,105,000 $4,105,000 $0 3.50%

    For 2022, Senb Bank's most frequently cited loan duration was 30 Year, with 154 originations. The 2nd most popular length was Other, with 31 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 192 $35,490,000 $184,844
    $1k-2k 29 $6,215,000 $214,310
    $2k-3k 5 $1,975,000 $395,000
    $5k+ 2 $4,890,000 $2,445,000
    $3k-4k 1 $255,000 $255,000

    Senb Bank's average total fees were $2,300, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 192 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 81 $19,515,000 $240,926
    5-6% 78 $13,790,000 $176,795
    3-4% 59 $15,865,000 $268,898
    6-7% 26 $4,270,000 $164,231
    2.5-3% 13 $4,085,000 $314,231
    <2.5% 4 $690,000 $172,500
    7-8% 4 $650,000 $162,500

    During 2022, Senb Bank's average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 4-5%, with 81 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 103 $14,545,000 $141,214 $2,281 4.85%
    $100,000 or less 79 $5,605,000 $70,949 $1,926 4.82%
    $200k-400k 64 $17,430,000 $272,344 $2,417 4.68%
    $400k-600k 7 $3,405,000 $486,429 $2,300 4.43%
    $1MM+ 6 $14,080,000 $2,346,667 $6,248 3.91%
    $600k-1MM 6 $3,800,000 $633,333 $4,977 5.17%

    2022 saw Senb Bank place emphasis on $100k-200k loans with 103 originations, totaling $14,545,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 61 $8,685,000 $142,377 $2,347 4.58%
    $50k or less 48 $4,400,000 $91,667 $2,165 4.53%
    $100k-150k 45 $9,665,000 $214,778 $2,104 4.70%
    $75k-100k 42 $6,510,000 $155,000 $2,010 5.12%
    $150k-250k 26 $7,330,000 $281,923 $2,982 4.75%
    $250k+ 19 $13,135,000 $691,316 $3,636 4.97%

    Senb Bank lent most frequently to those with incomes in the $50k-75k range, with 61 originations. The second most popular income band? $50k or less, with 48 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 57 $8,105,000 $142,193 $2,143 4.66%
    30-36% 50 $9,510,000 $190,200 $2,142 4.38%
    <20% 22 $5,200,000 $236,364 $2,146 4.76%
    37% 13 $6,635,000 $510,385 $2,953 4.55%
    40% 11 $2,155,000 $195,909 $2,255 4.76%
    49% 9 $1,975,000 $219,444 $2,545 5.46%
    38% 9 $1,685,000 $187,222 $2,841 4.74%
    44% 9 $1,735,000 $192,778 $1,912 4.79%
    39% 8 $1,840,000 $230,000 $3,211 5.03%
    48% 7 $2,365,000 $337,857 $2,842 5.32%
    43% 7 $1,475,000 $210,714 $3,030 4.84%
    36% 7 $1,405,000 $200,714 $2,591 4.91%
    41% 5 $2,295,000 $459,000 $3,289 3.63%
    47% 5 $785,000 $157,000 $2,048 4.43%
    45% 4 $670,000 $167,500 $2,207 4.75%
    46% 4 $660,000 $165,000 $2,696 4.94%
    42% 3 $425,000 $141,667 $2,324 6.00%

    Senb Bank lent most frequently to those with DTI ratios of 20-30%, with 57 originations. The next most common DTI ratio? 30-36%, with 50 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 225 $46,735,000 $207,711 $2,346 4.75%
    Not applicable 23 $8,985,000 $390,652 $0 5.07%
    Not provided 9 $1,305,000 $145,000 $2,259 4.97%
    Black 4 $1,290,000 $322,500 $3,523 4.41%
    Asian 2 $390,000 $195,000 $2,459 3.81%
    American Indian 1 $85,000 $85,000 $1,768 4.13%
    Other Asian 1 $75,000 $75,000 $2,861 5.50%

    Approval Rates

    Total approvals of all applications
    95.58%

    Senb Bank 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
    85.66%

    Senb Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 265 $58,865,000 $222,132

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    265 $58,865,000 $222,132

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $1,685,000 $112,333 $1,394 5.47%
    40-60% 26 $7,200,000 $276,923 $2,484 4.68%
    60-80% 97 $23,435,000 $241,598 $2,468 4.68%
    80-100% 119 $26,035,000 $218,782 $2,437 4.73%
    Under 20% 8 $510,000 $63,750 $1,514 5.59%