Mutual Federal Bank Mortgage Rates, Fees & Info
Chicago, ILLEI: 5493007XXF5AWOEWTU94
Tax ID: 36-1776229
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Mutual Federal Bank is a smaller bank specializing in Cash Out Refi and Refi loans. Mutual Federal Bank has a high proportion of conventional loans. Their top (well, only) market is Chicago.Mutual Federal Bank has an above average approval rate when compared to the average across all 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.
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.
Originations
5Origination Dollar Volume (All Markets)
$2,185,000Top Markets
Click or Hover to activate map
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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 5 | $2,185,000 | $437,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Mutual Federal Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 36
Similarity Rank: 79
Similarity Rank: 288
Similarity Rank: 560
Similarity Rank: 786
Similarity Rank: 840
Similarity Rank: 1098
Similarity Rank: 1116
Similarity Rank: 1266
Similarity Rank: 1490
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 5 | $2,185,000 | $437,000 | $0 | 0.00% |
For 2024, Mutual Federal Bank's most frequently originated type of loan was Conventional, with 5 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 4 | $1,340,000 | $335,000 | $0 | 0.00% |
| Refi | 1 | $845,000 | $845,000 | $0 | 0.00% |
For 2024, Mutual Federal Bank's most frequently cited loan purpose was Cash Out Refi, with 4 originations. The 2nd most popular reason was Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 5 | $2,185,000 | $437,000 | $0 | 0.00% |
For 2024, Mutual Federal Bank's most frequently cited loan duration was Other, with 5 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 2 | $280,000 | $140,000 | $0 | 0.00% |
| $600k-1MM | 2 | $1,550,000 | $775,000 | $0 | 0.00% |
| $200k-400k | 1 | $355,000 | $355,000 | $0 | 0.00% |
2024 saw Mutual Federal Bank place emphasis on $100k-200k loans with 2 originations, totaling $280,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 1 | $355,000 | $355,000 | $0 | 0.00% |
Mutual Federal Bank lent most frequently to those with incomes in the $100k-150k range, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 5 | $2,185,000 | $437,000 | $0 | 0.00% |
Mutual Federal Bank lent most frequently to those with DTI ratios of Exempt%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 3 | $1,705,000 | $568,333 | $0 | 0.00% |
| White | 2 | $480,000 | $240,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Mutual Federal 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 5 | $2,185,000 | $437,000 |