Home State Bank Mortgage Rates, Fees & Info

Crystal Lake, IL

LEI: 549300AUFLERO59VGC71

Tax ID: 36-1232000

5 stars - out of 5 stars, based on 32 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Home State Bank is a smaller bank specializing in Home Purchase and Refi loans. Home State Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Chicago, Racine, Milwaukee, Nashville, and Whitewater among others. Home State Bank has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Home State Bank is typically an average fee lendor.


Originations

1,051

Origination Dollar Volume (All Markets)

$229,835,000

Employee count

146

Awards

Home State Bank FHA Loans gold Home State Bank FHA Loans silver
Show all (2) awards

Relative Rate

Home State Bank's average 30 year fixed rate mortgage of loans were 3.09%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.06%.

Relative Fees

Home State Bank's average total fees for a 30 year fixed rate mortgage are $3,898.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 860 $181,610,000 $211,174 $3,670 2.98%
RACINE, WI (FHA|USDA|VA) 76 $16,210,000 $213,289 $2,628 3.03%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 21 $5,125,000 $244,048 $2,596 3.07%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 4 $3,260,000 $815,000 $3,476 3.06%
Whitewater, WI (FHA|USDA|VA) 12 $2,840,000 $236,667 $2,855 2.98%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $2,385,000 $2,385,000 $14,458 3.50%
ROCKFORD, IL (FHA|USDA|VA) 14 $2,100,000 $150,000 $4,669 3.19%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 5 $1,795,000 $359,000 $3,502 3.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,630,000 $815,000 $6,898 2.44%
Outside of Metro Areas 5 $1,075,000 $215,000 $2,826 2.93%
MADISON, WI (FHA|USDA|VA) 4 $800,000 $200,000 $2,451 3.09%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $655,000 $218,333 $3,474 2.92%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $650,000 $325,000 $3,483 2.88%
Rochelle, IL (FHA|USDA|VA) 3 $605,000 $201,667 $3,536 3.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $580,000 $290,000 $4,076 2.69%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 2 $520,000 $260,000 $2,943 3.25%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $505,000 $505,000 $3,977 3.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $505,000 $505,000 $1,946 3.12%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $495,000 $495,000 $3,198 2.88%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $490,000 $245,000 $2,558 2.70%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $415,000 $415,000 $2,784 3.13%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $405,000 $405,000 $3,184 2.50%
Crossville, TN (FHA|USDA|VA) 1 $345,000 $345,000 $4,367 2.99%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $320,000 $160,000 $4,284 3.19%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 3 $295,000 $98,333 $2,560 2.63%
Freeport, IL (FHA|USDA|VA) 1 $295,000 $295,000 $3,166 3.88%
APPLETON, WI (FHA|USDA|VA) 2 $290,000 $145,000 $2,262 2.94%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 2 $280,000 $140,000 $3,282 2.81%
SPARTANBURG, SC (FHA|USDA|VA) 1 $255,000 $255,000 $3,689 3.00%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $255,000 $255,000 $2,908 2.88%
RAPID CITY, SD (FHA|USDA|VA) 1 $245,000 $245,000 $3,637 3.37%
Show Low, AZ (FHA|USDA|VA) 1 $245,000 $245,000 $3,120 3.38%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $235,000 $235,000 $2,443 3.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $215,000 $215,000 $4,022 2.63%
Marinette, WI-MI (FHA|USDA|VA) 1 $215,000 $215,000 $2,282 3.25%
IOWA CITY, IA (FHA|USDA|VA) 1 $215,000 $215,000 $3,866 2.75%
OCALA, FL (FHA|USDA|VA) 1 $215,000 $215,000 $3,211 2.99%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $195,000 $195,000 $2,550 2.63%
Sturgis, MI (FHA|USDA|VA) 1 $195,000 $195,000 $2,629 2.50%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,150 3.50%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $165,000 $165,000 $2,485 3.25%
FORT WAYNE, IN (FHA|USDA|VA) 1 $155,000 $155,000 $2,651 3.00%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $145,000 $145,000 $3,415 3.25%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $135,000 $135,000 $0 3.25%
CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $85,000 $85,000 $2,348 2.38%

Home State Bank's top markets include Chicago, Racine, Milwaukee, Nashville, and Whitewater among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,000 $219,380,000 $219,380 $3,372 3.00%
FHA 50 $10,280,000 $205,600 $7,584 2.83%
USDA 1 $175,000 $175,000 $6,668 2.50%

For the 2021 period, Home State Bank's most frequently originated loan type of loans were Conventional, with 1,000 originations. Their 2nd most popular type is FHA, with 50 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 442 $100,600,000 $227,602 $5,007 3.14%
Refi 414 $87,340,000 $210,966 $2,408 2.84%
Cash Out Refi 180 $39,580,000 $219,889 $3,156 2.98%
Other 10 $1,650,000 $165,000 $2,443 3.01%
Home Improvement 5 $665,000 $133,000 $2,441 3.53%

For the 2021, Home State Bank's most frequently cited loan purpose of loans were Home Purchase, with 442 originations. The 2nd most popular reason of loans were Refi, with 414 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 743 $168,655,000 $226,992 $3,898 3.09%
15 Year 182 $39,060,000 $214,615 $2,678 2.54%
20 Year 61 $12,385,000 $203,033 $2,573 2.87%
10 Year 27 $2,625,000 $97,222 $2,207 2.53%
5 Year 20 $2,950,000 $147,500 $0 4.23%
Other 17 $3,555,000 $209,118 $4,205 3.97%
30+ year 1 $605,000 $605,000 $12,574 3.00%

For the 2021, Home State Bank's most frequently cited loan length of loans were 30 Year, with 743 originations. The 2nd most popular length of loans were 15 Year, with 182 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 886 $205,240,000 $231,648
$<1k 34 $230,000 $6,765
$2k-3k 24 $4,300,000 $179,167
$3k-4k 20 $4,770,000 $238,500
$5k+ 4 $1,450,000 $362,500

$3,898 of loans were Home State Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 886 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 441 $103,175,000 $233,957
3-4% 368 $85,620,000 $232,663
<2.5% 172 $33,080,000 $192,326
4-5% 36 $7,730,000 $214,722
6-7% 1 $35,000 $35,000

During 2021, Home State Bank's average interest rate of loans were 3.09%, while their most frequently originated rate bucket of loans were 2.5-3%, with 441 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 413 $111,425,000 $269,794 $3,623 3.01%
$100k-200k 410 $62,290,000 $151,927 $3,374 2.95%
$100,000 or less 139 $8,485,000 $61,043 $2,945 2.98%
$400k-600k 82 $39,290,000 $479,146 $4,336 3.01%
$600k-1MM 4 $2,900,000 $725,000 $9,154 3.53%
$1MM+ 3 $5,445,000 $1,815,000 $8,599 3.08%

2021 saw Home State Bank place emphasis on $200k-400k loans with 413 originations, totaling $111,425,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 257 $41,815,000 $162,704 $3,536 3.03%
$100k-150k 256 $59,450,000 $232,227 $3,346 2.96%
$75k-100k 198 $41,210,000 $208,131 $3,927 2.98%
$150k-250k 130 $38,570,000 $296,692 $3,097 2.89%
$50k or less 114 $13,900,000 $121,930 $3,687 2.97%
$250k+ 70 $28,070,000 $401,000 $3,971 2.89%

Home State Bank lent most frequently to those with incomes in the $50k-75k range, with 257 originations. The second most popular income band? $100k-150k, with 256 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 213 $47,235,000 $221,761 $3,173 2.84%
30-36% 190 $41,920,000 $220,632 $3,297 3.01%
<20% 87 $18,965,000 $217,989 $3,034 2.81%
44% 57 $10,365,000 $181,842 $3,140 3.17%
38% 50 $11,260,000 $225,200 $3,347 3.02%
43% 47 $8,325,000 $177,128 $4,084 3.01%
37% 44 $9,020,000 $205,000 $3,722 3.01%
45% 38 $8,690,000 $228,684 $3,441 3.03%
49% 38 $9,210,000 $242,368 $5,063 2.93%
40% 37 $7,365,000 $199,054 $3,338 3.09%
36% 36 $8,480,000 $235,556 $2,937 2.96%
39% 35 $6,325,000 $180,714 $2,999 2.94%
46% 34 $7,690,000 $226,176 $4,524 3.06%
42% 33 $8,135,000 $246,515 $5,145 3.05%
41% 33 $8,375,000 $253,788 $4,796 3.09%
48% 25 $5,815,000 $232,600 $3,861 2.91%
47% 22 $4,430,000 $201,364 $4,530 3.09%
50-60% 6 $1,860,000 $310,000 $7,126 2.83%
>60% 1 $145,000 $145,000 $4,923 3.13%

Home State Bank lent most frequently to those with DTI ratios of 20-30%, with 213 originations. The next most common DTI ratio? 30-36%, with 190 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 938 $206,660,000 $220,320 $3,497 2.96%
Asian 51 $11,075,000 $217,157 $4,135 3.08%
Not applicable 17 $4,765,000 $280,294 $0 4.20%
Black 25 $4,465,000 $178,600 $5,106 3.01%
Not provided 20 $2,870,000 $143,500 $3,602 3.04%

Approval Rates

Total approvals of all applications
95.66%

Home State 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
91.48%

Home State Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,051 $229,835,000 $218,682

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,051 $229,835,000 $218,682

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 68 $8,260,000 $121,471 $2,623 2.70%
40-60% 167 $31,695,000 $189,790 $2,689 2.74%
60-80% 415 $100,325,000 $241,747 $3,230 3.02%
80-100% 349 $84,275,000 $241,476 $4,518 3.08%
Under 20% 36 $660,000 $18,333 $4,158 3.33%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
HOMESTAR FINANCIAL CORPORATION Conventional home mortgage Trouble during payment process 3 37.5%
HOMESTAR FINANCIAL CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 25.0%
HOMESTAR FINANCIAL CORPORATION FHA mortgage Closing on a mortgage 1 12.5%
HOMESTAR FINANCIAL CORPORATION VA mortgage Closing on a mortgage 1 12.5%
HOMESTAR FINANCIAL CORPORATION VA mortgage Trouble during payment process 1 12.5%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Home State Bank, National Association 124 Johnson Street Woodstock, IL 60098 Full Service B&M $62,969
Home State Bank, National Association 3500 Diamond Drive Mchenry, IL 60050 Full Service B&M $24,202
Home State Bank, National Association 40 Grant Street Crystal Lake, IL 60014 Limited, Mobile/Seasonal Office $0
Home State Bank, National Association 40 Grant Street Crystal Lake, IL 60014 Full Service B&M $436,460
Home State Bank, National Association 4401 Prime Parkway Mchenry, IL 60050 Limited, Drive-thru $24,553
Home State Bank, National Association Randall Road And Acorn Lane Lake In The Hills, IL 60102 Full Service B&M $67,318
Home State Bank, National Association Route 14 And Main Street Crystal Lake, IL 60014 Full Service B&M $48,215

For 2021, Home State Bank had 7 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $22,589
Net interest income $21,779
Total noninterest income $10,010
Gross Fiduciary activities income $1,297
Service charges on deposit accounts $1,728
Trading account gains and fees $0
Additional Noninterest Income $6,985
Pre-tax net operating income $6,302
Securities gains (or losses, -) $0
Income before extraordinary items $6,302
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $6,302
Minority interest net income $0
Net income $6,302
Sale, conversion, retirement of capital stock, net $0
Net operating income $6,302

Home State Bank's gross interest income from loans was $22,589,000.
Home State Bank's net interest income from loans was $21,779,000.
Home State Bank's fee based income from loans was $1,728,000.
Home State Bank's net income from loans was $6,302,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $810
Provision for credit losses $339
Total noninterest expense $25,148
Salaries and employee benefits $15,511
Premises and equipment expense $2,177
Additional noninterest expense $7,460
Applicable income taxes $0
Net charge-offs $613
Cash dividends $4,604

Home State Bank's interest expense for loans was $810,000.
Home State Bank's payroll and benefits expense were $15,511,000.
Home State Bank's property, plant and equipment expenses $2,177,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 1.0%
HELOC loans 0.0%
All other family 1.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $694,902
Deposits held in domestic offices $694,902
Deposits by Individuals, partnerships, and corporations $666,833
Deposits by U.S. Government $4
Deposits by States and political subdivisions in the U.S. $28,065
Deposits by Commercial banks and other depository institutions in U.S. $0
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $56,915
Demand deposits $45,496
Nontransaction accounts $637,987
Money market deposit accounts (MMDAs) $190,423
Other savings deposits (excluding MMDAs) $369,329
Total time deposits $78,235
Total time and savings deposits $649,406
Noninterest-bearing deposits $259,192
Interest-bearing deposits $435,710
Retail deposits $683,732
IRAs and Keogh plan accounts $20,674
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $782,780
Cash & Balances due from depository institutions $200,117
Interest-bearing balances $192,570
Total securities $172,888
Federal funds sold & reverse repurchase $0
Net loans and leases $370,329
Loan and leases loss allowance $4,916
Trading account assets $0
Bank premises and fixed assets $15,253
Other real estate owned $3,077
Goodwill and other intangibles $3,858
All other assets $17,258

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $782,780
Total Liabilities $703,107
Total deposits $694,902
Interest-bearing deposits $435,710
Deposits held in domestic offices $694,902
% insured (estimated) $73
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $8,205

Issued Loan Types

Type Value (in 000's)
Net loans and leases $370,329
Loan and leases loss allowance $4,916
Total loans and leases (domestic) $375,245
All real estate loans $323,750
Real estate loans in domestic offices $323,750
Construction and development loans $34,907
Residential 1-4 family construction $9,998
Other construction, all land development and other land $24,909
Loans secured by nonfarm nonresidential properties $167,736
Nonfarm nonresidential secured by owner-occupied properties $83,557
Commercial real estate & other non-farm, non-residential $84,179
Multifamily residential real estate $15,967
1-4 family residential loans $105,140
Farmland loans $0
Loans held in foreign offices $0
Farm loans $47
Commercial and industrial loans $49,637
To non-U.S. addressees $0
Loans to individuals $1,950
Credit card loans $0
Related Plans $57
Consumer Auto Loans $1,183
Other loans to individuals $710
All other loans & leases $906
Loans to foreign governments and official institutions $0
Other loans $118
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $1,360
Non 1-4 family restructured loans & leases $1,208
Total loans and leases (foreign) $0

Home State Bank had $370,329,000 of loans outstanding in 2021. $323,750,000 of loans were in real estate loans. $34,907,000 of loans were in development loans. $15,967,000 of loans were in multifamily mortgage loans. $105,140,000 of loans were in 1-4 family mortgage loans. $47,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,183,000 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 299 $66,080 $221,003
Nonfarm, nonresidential loans - <$100k 49 $1,852 $37,796
Nonfarm, nonresidential loans - $100-250k 109 $12,999 $119,257
Nonfarm, nonresidential loans - $250k-1MM 141 $51,229 $363,326
Commercial & Industrial, US addressed loans - <$1MM 649 $42,871 $66,057
Commercial & Industrial, US addressed loans - <$100k 431 $9,243 $21,445
Commercial & Industrial, US addressed loans - $100-250k 130 $12,392 $95,323
Commercial & Industrial, US addressed loans - $250k-1MM 88 $21,236 $241,318
Agriculture operations loans - <$1MM 1 $47 $47,000
Agriculture operations loans - <$100k 1 $47 $47,000