Chicago Financial Services Mortgage Rates, Fees & Info
Chicago, ILLEI: 549300BNF25IPYUUCT31
Tax ID: 36-3679626
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Chicago Financial Services is a smaller mortgage company specializing in Home Purchase loans. Chicago Financial Services 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.) Their top markets by origination volume include: Chicago, Miami, Seattle, Milwaukee, and North Port among others. We have data for 31 markets. (Some data included below & more in-depth data is available with an active subscription.)Chicago Financial Services 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. Chicago Financial Services 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 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 | 6.59% | 11/21/24 |
| 30 Year Conventional Refi | 6.29% | 11/21/24 |
| 30 Year Cash-out Refi | 6.71% | 11/21/24 |
| 30 Year FHA Purchase | 7.32% | 11/21/24 |
| 30 Year FHA Refi | 6.27% | 11/21/24 |
| 30 Year VA Purchase | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 5.99% | 11/21/24 |
| 15 Year Conventional Refi | 5.92% | 11/21/24 |
| 15 Year Cash-out Refi | 5.92% | 11/21/24 |
| 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. | ||
Chicago Financial Services Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Chicago Financial Services. 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
465Origination Dollar Volume (All Markets)
$173,965,000Top 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) | 396 | $145,390,000 | $367,146 | $5,077 | 4.72% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 10 | $6,380,000 | $638,000 | $6,763 | 4.84% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 6 | $4,040,000 | $673,333 | $4,358 | 4.50% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 7 | $2,215,000 | $316,429 | $2,327 | 4.98% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $2,200,000 | $1,100,000 | $9,459 | 4.44% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 6 | $1,790,000 | $298,333 | $4,245 | 4.81% |
| NILES, MI (FHA|USDA|VA) | 3 | $1,115,000 | $371,667 | $3,079 | 4.66% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $885,000 | $885,000 | $5,486 | 3.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $5,238 | 5.31% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $750,000 | $187,500 | $3,517 | 5.72% |
| ROCKFORD, IL (FHA|USDA|VA) | 4 | $690,000 | $172,500 | $3,367 | 5.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $6,226 | 4.88% |
| Outside of Metro Areas | 3 | $625,000 | $208,333 | $2,682 | 4.04% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $4,163 | 5.13% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $3,943 | 5.38% |
| Beaver Dam, WI (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $4,249 | 5.88% |
| APPLETON, WI (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $2,919 | 3.88% |
| Whitewater, WI (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $2,785 | 5.69% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,798 | 5.00% |
| JACKSON, MI (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,163 | 5.18% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,004 | 6.13% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,101 | 6.50% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,541 | 5.13% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $7,604 | 4.38% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $9,176 | 5.75% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,550 | 5.63% |
| Plymouth, IN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,821 | 7.63% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,532 | 3.75% |
| Logansport, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,539 | 4.99% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,859 | 6.13% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,455 | 5.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against Chicago Financial Services based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 64
Similarity Rank: 94
Similarity Rank: 116
Similarity Rank: 156
Similarity Rank: 198
Similarity Rank: 450
Similarity Rank: 579
Similarity Rank: 625
Similarity Rank: 780
Similarity Rank: 850
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 450 | $169,890,000 | $377,533 | $4,830 | 4.74% |
| FHA | 15 | $4,075,000 | $271,667 | $9,616 | 5.46% |
For 2022, Chicago Financial Services's most frequently originated type of loan was Conventional, with 450 originations. Their 2nd most popular type was FHA, with 15 originations.
Loan Reason
For 2022, Chicago Financial Services's most frequently cited loan purpose was Home Purchase, with 356 originations. The 2nd most popular reason was Cash Out Refi, with 61 originations.
Loan Duration/Length
For 2022, Chicago Financial Services's most frequently cited loan duration was 30 Year, with 398 originations. The 2nd most popular length was 15 Year, with 56 originations.
Origination Fees/Closing Costs
Chicago Financial Services's average total fees were $5,179, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 399 originations.
Interest Rates
During 2022, Chicago Financial Services's average interest rate for loans was 4.96%, while their most frequently originated rate bucket for loans was 5-6%, with 144 originations.
Loan Sizing
2022 saw Chicago Financial Services place emphasis on $200k-400k loans with 208 originations, totaling $60,460,000 in origination value.
Applicant Income
Chicago Financial Services lent most frequently to those with incomes in the $150k-250k range, with 128 originations. The second most popular income band? $100k-150k, with 114 originations.
Applicant Debt to Income Ratio
Chicago Financial Services lent most frequently to those with DTI ratios of 20-30%, with 115 originations. The next most common DTI ratio? 30-36%, with 93 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.28%
Chicago Financial Services has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination78.49%
Chicago Financial Services has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 465 | $173,965,000 | $374,118 |