Home State Bank Mortgage Rates, Fees & Info

Crystal Lake, IL

LEI: 549300AUFLERO59VGC71

Tax ID: 36-1232000

5 stars - Updated: 7/11/24 - out of 5 stars, based on 20 reviews

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

Jump to:

Mortgage Data

Review & Overview

Home State Bank is a smaller bank specializing in Home Purchase loans. Home State Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Chicago, Racine, North Port, Milwaukee, and Rockford among others. We have data for 27 markets. (Some data included below & more in-depth data is available with an active subscription.)

Home State 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. Home State Bank is typically an average 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 relatively high 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 6.61% 7/11/24
30 Year Conventional Refi 6.47% 7/11/24
30 Year Cash-out Refi 6.45% 7/11/24
30 Year FHA Purchase 7.42% 7/11/24
30 Year FHA Refi 6.87% 7/11/24
30 Year VA Purchase 6.34% 7/11/24
30 Year USDA Purchase 6.84% 7/11/24
15 Year Conventional Purchase 5.92% 7/11/24
15 Year Conventional Refi 5.78% 7/11/24
15 Year Cash-out Refi 5.78% 7/11/24
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.

Home State Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Home State 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

388

Origination Dollar Volume (All Markets)

$98,170,000

Awards

Home State Bank FHA Loans bronze
Show all (1) awards

Relative Rate

Home State Bank's average 30 year fixed mortgage rate was 6.66%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.18%.

Relative Fees (Closing Costs)

Home State Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,669.

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 $9,089.

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 310 $77,630,000 $250,419 $5,940 6.61%
RACINE, WI (FHA|USDA|VA) 20 $4,450,000 $222,500 $3,401 6.89%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 7 $3,415,000 $487,857 $8,463 6.45%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 8 $1,780,000 $222,500 $3,620 7.03%
ROCKFORD, IL (FHA|USDA|VA) 11 $1,775,000 $161,364 $4,606 6.77%
Whitewater, WI (FHA|USDA|VA) 1 $925,000 $925,000 $3,257 7.50%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $905,000 $301,667 $3,556 6.38%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 3 $695,000 $231,667 $4,004 7.13%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $665,000 $665,000 $7,295 5.50%
Outside of Metro Areas 4 $590,000 $147,500 $3,292 5.59%
APPLETON, WI (FHA|USDA|VA) 3 $565,000 $188,333 $3,005 7.83%
MADISON, WI (FHA|USDA|VA) 2 $540,000 $270,000 $2,962 6.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $415,000 $415,000 $3,726 6.50%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $415,000 $415,000 $5,797 6.00%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $385,000 $385,000 $2,983 5.75%
BISMARCK, ND (FHA|USDA|VA) 1 $365,000 $365,000 $13,143 6.63%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $345,000 $345,000 $5,562 5.50%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $335,000 $335,000 $2,912 6.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $5,848 8.63%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $265,000 $265,000 $3,888 8.63%
Marinette, WI-MI (FHA|USDA|VA) 1 $255,000 $255,000 $3,686 7.38%
DUBUQUE, IA (FHA|USDA|VA) 1 $215,000 $215,000 $3,725 7.13%
KANKAKEE, IL (FHA|USDA|VA) 1 $215,000 $215,000 $3,561 8.63%
Pontiac, IL (FHA|USDA|VA) 1 $195,000 $195,000 $2,685 6.38%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $185,000 $185,000 $3,224 6.50%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $175,000 $175,000 $5,269 5.99%
KOKOMO, IN (FHA|USDA|VA) 1 $165,000 $165,000 $2,448 6.87%
Home State Bank's top markets include Chicago, Racine, North Port, Milwaukee, and Rockford among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Dakota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Similar Lenders

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

    NORTHWESTERN MUTUAL
    Similarity Rank: 44
    First Savings Bank of Hegewisch
    Similarity Rank: 46
    Glacier Hills Credit Union
    Similarity Rank: 54
    National Exchange Bank and Trust
    Similarity Rank: 112
    Empower Credit Union
    Similarity Rank: 203
    PyraMax Bank, FSB
    Similarity Rank: 270
    Liberty Bank for Savings
    Similarity Rank: 279
    FineMark National Bank & Trust
    Similarity Rank: 280
    Citizens Bank
    Similarity Rank: 296

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 355 $90,205,000 $254,099 $5,122 6.64%
    FHA 33 $7,965,000 $241,364 $9,829 6.67%

    For 2023, Home State Bank's most frequently originated type of loan was Conventional, with 355 originations. Their 2nd most popular type was FHA, with 33 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 348 $86,410,000 $248,305 $5,808 6.60%
    Refi 16 $7,740,000 $483,750 $3,188 6.41%
    Cash Out Refi 14 $2,530,000 $180,714 $3,879 7.33%
    Home Improvement 5 $515,000 $103,000 $929 7.17%
    Other 5 $975,000 $195,000 $1,870 7.15%

    For 2023, Home State Bank's most frequently cited loan purpose was Home Purchase, with 348 originations. The 2nd most popular reason was Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 302 $79,590,000 $263,543 $5,669 6.66%
    5 Year 57 $14,785,000 $259,386 $0 6.65%
    10 Year 20 $360,000 $18,000 $92 5.64%
    30+ year 4 $1,970,000 $492,500 $4,914 6.50%
    15 Year 3 $485,000 $161,667 $3,278 6.46%
    1 Year 1 $775,000 $775,000 $0 7.25%
    Other 1 $205,000 $205,000 $0 8.00%

    For 2023, Home State Bank's most frequently cited loan duration was 30 Year, with 302 originations. The 2nd most popular length was 5 Year, with 57 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 214 $63,230,000 $295,467
    $<1k 59 $765,000 $12,966
    $3k-4k 35 $7,855,000 $224,429
    $2k-3k 22 $4,260,000 $193,636
    $4k-5k 7 $2,145,000 $306,429
    $5k+ 5 $1,845,000 $369,000

    Home State Bank's average total fees were $5,669, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 214 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 159 $48,355,000 $304,119
    7-8% 92 $23,260,000 $252,826
    5-6% 68 $22,160,000 $325,882
    Over 8% 13 $3,155,000 $242,692
    <2.5% 2 $30,000 $15,000
    4-5% 2 $430,000 $215,000
    3-4% 1 $375,000 $375,000

    During 2023, Home State Bank's average interest rate for loans was 6.66%, while their most frequently originated rate bucket for loans was 6-7%, with 159 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 165 $46,285,000 $280,515 $5,992 6.70%
    $100k-200k 99 $15,475,000 $156,313 $5,077 6.68%
    $100,000 or less 70 $1,660,000 $23,714 $2,002 6.37%
    $400k-600k 37 $17,425,000 $470,946 $5,603 6.57%
    $600k-1MM 14 $10,760,000 $768,571 $6,192 6.34%
    $1MM+ 3 $6,565,000 $2,188,333 $7,409 6.08%

    2023 saw Home State Bank place emphasis on $200k-400k loans with 165 originations, totaling $46,285,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 93 $23,485,000 $252,527 $5,777 6.64%
    $75k-100k 85 $15,115,000 $177,824 $5,706 6.67%
    $50k-75k 71 $9,295,000 $130,915 $5,337 6.69%
    $150k-250k 55 $17,125,000 $311,364 $5,200 6.70%
    $250k+ 36 $16,770,000 $465,833 $5,669 6.56%
    $50k or less 24 $2,070,000 $86,250 $3,818 6.33%

    Home State Bank lent most frequently to those with incomes in the $100k-150k range, with 93 originations. The second most popular income band? $75k-100k, with 85 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 70 $14,860,000 $212,286 $5,186 6.73%
    20-30% 50 $11,920,000 $238,400 $4,748 6.59%
    41% 33 $7,285,000 $220,758 $5,593 6.54%
    42% 27 $5,675,000 $210,185 $6,373 6.63%
    44% 22 $6,020,000 $273,636 $5,328 7.04%
    43% 21 $5,145,000 $245,000 $4,984 6.55%
    37% 18 $5,170,000 $287,222 $5,936 6.40%
    39% 17 $3,365,000 $197,941 $5,133 6.77%
    <20% 16 $4,550,000 $284,375 $4,455 6.73%
    49% 15 $2,845,000 $189,667 $6,984 6.42%
    40% 13 $1,945,000 $149,615 $6,950 5.96%
    36% 11 $2,215,000 $201,364 $5,117 6.42%
    47% 11 $2,175,000 $197,727 $5,482 6.79%
    38% 10 $2,510,000 $251,000 $4,347 6.43%
    45% 9 $2,885,000 $320,556 $7,409 6.80%
    46% 6 $1,690,000 $281,667 $7,197 5.95%
    48% 5 $1,285,000 $257,000 $7,001 7.48%
    50-60% 2 $660,000 $330,000 $11,814 6.94%

    Home State Bank lent most frequently to those with DTI ratios of 30-36%, with 70 originations. The next most common DTI ratio? 20-30%, with 50 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 320 $75,640,000 $236,375 $5,459 6.65%
    Not applicable 20 $12,170,000 $608,500 $0 6.61%
    Black 14 $3,180,000 $227,143 $6,816 6.25%
    Asian 14 $3,030,000 $216,429 $5,138 6.23%
    Not provided 14 $2,970,000 $212,143 $5,492 7.02%
    American Indian 5 $915,000 $183,000 $6,047 6.84%
    Native Hawaiian or Islander 1 $265,000 $265,000 $10,774 7.63%

    Approval Rates

    Total approvals of all applications
    94.71%

    Home State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.82%

    Home State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 388 $98,170,000 $253,015

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    388 $98,170,000 $253,015

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $2,395,000 $184,231 $4,603 6.72%
    40-60% 36 $14,150,000 $393,056 $4,933 6.60%
    60-80% 106 $32,190,000 $303,679 $5,394 6.72%
    80-100% 174 $48,650,000 $279,598 $5,986 6.64%
    Under 20% 59 $785,000 $13,305 $0 5.75%