First State Bank Mortgage Rates, Fees & Info

Mendota, IL

LEI: 549300CQG2T7TCGY8Q67

Tax ID: 36-1465165

5 stars - Updated: 4/5/25 - out of 5 stars, based on 20 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    First State Bank is a smaller bank specializing in Home Purchase and Refi loans. First State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Bloomington, Ottawa, Rochelle, and Dixon among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First State Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. First State 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 6.92% 4/5/25
    30 Year Conventional Refi 6.59% 4/5/25
    30 Year Cash-out Refi 6.72% 4/5/25
    15 Year Conventional Purchase 6.21% 4/5/25
    15 Year Conventional Refi 6.33% 4/5/25
    15 Year Cash-out Refi 6.33% 4/5/25
    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.

    First State Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from First 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

    384

    Origination Dollar Volume (All Markets)

    $85,880,000

    Awards

    First State Bank 30 Year Conventional Loans gold First State Bank 30 Year Conventional Loans silver First State Bank 30 Year Conventional Loans gold
    Show all (3) awards

    Relative Rate

    First State Bank's average 30 year fixed mortgage rate was 6.97%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.42%.

    Relative Fees (Closing Costs)

    First State Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,492.

    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 $8,356.

    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) 61 $33,625,000 $551,230 $3,641 7.22%
    BLOOMINGTON, IL (FHA|USDA|VA) 104 $20,000,000 $192,308 $1,445 7.59%
    Ottawa, IL (FHA|USDA|VA) 131 $16,985,000 $129,656 $2,137 7.37%
    Rochelle, IL (FHA|USDA|VA) 16 $2,570,000 $160,625 $2,476 7.16%
    Dixon, IL (FHA|USDA|VA) 21 $2,005,000 $95,476 $1,597 7.52%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $1,605,000 $1,605,000 $0 7.70%
    KANKAKEE, IL (FHA|USDA|VA) 3 $1,525,000 $508,333 $0 7.15%
    PEORIA, IL (FHA|USDA|VA) 10 $1,300,000 $130,000 $1,959 7.45%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 6 $1,270,000 $211,667 $0 7.42%
    Outside of Metro Areas 7 $995,000 $142,143 $3,261 7.30%
    Pontiac, IL (FHA|USDA|VA) 6 $670,000 $111,667 $1,672 7.04%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $635,000 $635,000 $0 6.90%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $355,000 $355,000 $0 7.50%
    DANVILLE, IL (FHA|USDA|VA) 3 $345,000 $115,000 $0 7.62%
    ROCKFORD, IL (FHA|USDA|VA) 2 $290,000 $145,000 $1,229 7.07%
    TULSA, OK (FHA|USDA|VA) 1 $285,000 $285,000 $0 7.50%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $245,000 $245,000 $0 7.30%
    Freeport, IL (FHA|USDA|VA) 1 $245,000 $245,000 $0 7.50%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $225,000 $225,000 $0 7.45%
    Sterling, IL (FHA|USDA|VA) 2 $220,000 $110,000 $0 7.38%
    Whitewater, WI (FHA|USDA|VA) 1 $195,000 $195,000 $4,891 6.13%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 2 $140,000 $70,000 $1,569 7.63%
    Batesville, AR (FHA|USDA|VA) 1 $85,000 $85,000 $0 7.63%
    DECATUR, IL (FHA|USDA|VA) 1 $65,000 $65,000 $0 7.90%
    First State Bank's top markets include Chicago, Bloomington, Ottawa, Rochelle, and Dixon among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)

    • Similar Lenders

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

    First Savings Bank of Hegewisch
    Similarity Rank: 36
    Stillman Bank
    Similarity Rank: 63
    Liberty Bank for Savings
    Similarity Rank: 79
    FINANCIAL PLUS
    Similarity Rank: 300
    Bank of Pontiac
    Similarity Rank: 350
    IAA Credit Union
    Similarity Rank: 363
    DuPage Credit Union
    Similarity Rank: 560
    Community Mortgage Banc Corporation
    Similarity Rank: 658
    INB
    Similarity Rank: 768
    First Financial Credit Union
    Similarity Rank: 786

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 384 $85,880,000 $223,646 $2,247 7.40%

    For 2024, First State Bank's most frequently originated type of loan was Conventional, with 384 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 250 $56,460,000 $225,840 $2,709 7.28%
    Refi 68 $21,160,000 $311,176 $1,593 7.43%
    Other 34 $4,230,000 $124,412 $1,438 8.22%
    Home Improvement 29 $3,575,000 $123,276 $1,603 7.54%
    Cash Out Refi 3 $455,000 $151,667 $3,572 6.04%

    For 2024, First State Bank's most frequently cited loan purpose was Home Purchase, with 250 originations. The 2nd most popular reason was Refi, with 68 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 107 $21,995,000 $205,561 $2,492 6.97%
    5 Year 105 $21,465,000 $204,429 $679 7.49%
    20 Year 73 $25,575,000 $350,342 $3,045 7.44%
    Other 46 $8,110,000 $176,304 $1,044 8.43%
    15 Year 26 $3,860,000 $148,462 $2,376 6.84%
    1 Year 19 $4,345,000 $228,684 $0 7.74%
    10 Year 8 $530,000 $66,250 $1,689 6.75%

    For 2024, First State Bank's most frequently cited loan duration was 30 Year, with 107 originations. The 2nd most popular length was 5 Year, with 105 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 132 $22,430,000 $169,924
    $1k-2k 16 $3,120,000 $195,000
    $2k-3k 10 $2,440,000 $244,000
    $3k-4k 5 $1,025,000 $205,000
    $4k-5k 1 $165,000 $165,000
    $5k+ 1 $245,000 $245,000

    First State Bank's average total fees were $2,492, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 132 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 258 $63,160,000 $244,806
    6-7% 76 $17,750,000 $233,553
    Over 8% 39 $2,865,000 $73,462
    5-6% 11 $2,105,000 $191,364

    During 2024, First State Bank's average interest rate for loans was 6.97%, while their most frequently originated rate bucket for loans was 7-8%, with 258 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 150 $20,730,000 $138,200 $2,243 7.30%
    $100,000 or less 117 $6,865,000 $58,675 $1,434 7.77%
    $200k-400k 80 $21,460,000 $268,250 $3,226 7.12%
    $400k-600k 17 $7,645,000 $449,706 $1,940 7.29%
    $1MM+ 11 $22,385,000 $2,035,000 $7,451 7.27%
    $600k-1MM 9 $6,795,000 $755,000 $2,143 7.24%

    2024 saw First State Bank place emphasis on $100k-200k loans with 150 originations, totaling $20,730,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 58 $9,140,000 $157,586 $2,612 7.42%
    $150k-250k 56 $11,270,000 $201,250 $2,255 7.41%
    $50k-75k 48 $4,650,000 $96,875 $2,028 7.40%
    $75k-100k 40 $5,070,000 $126,750 $1,975 7.37%
    $50k or less 34 $2,830,000 $83,235 $1,789 7.34%
    $250k+ 22 $7,810,000 $355,000 $3,415 7.36%

    First State Bank lent most frequently to those with incomes in the $100k-150k range, with 58 originations. The second most popular income band? $150k-250k, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 40 $5,580,000 $139,500 $1,979 7.28%
    20-30% 39 $8,925,000 $228,846 $2,424 7.18%
    <20% 13 $1,875,000 $144,231 $2,679 6.70%
    42% 13 $1,835,000 $141,154 $2,046 7.31%
    36% 10 $1,700,000 $170,000 $2,795 7.43%
    37% 9 $1,415,000 $157,222 $2,142 7.50%
    41% 7 $1,355,000 $193,571 $1,680 7.34%
    40% 7 $2,055,000 $293,571 $1,892 7.27%
    39% 5 $615,000 $123,000 $1,862 7.35%
    47% 4 $540,000 $135,000 $3,348 6.88%
    43% 3 $625,000 $208,333 $2,032 7.42%
    46% 3 $525,000 $175,000 $2,223 6.79%
    45% 3 $715,000 $238,333 $2,384 6.75%
    38% 3 $475,000 $158,333 $2,154 6.75%
    44% 2 $550,000 $275,000 $2,202 8.00%
    48% 2 $180,000 $90,000 $1,596 6.50%
    49% 2 $460,000 $230,000 $3,353 7.50%

    First State Bank lent most frequently to those with DTI ratios of 30-36%, with 40 originations. The next most common DTI ratio? 20-30%, with 39 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 116 $41,510,000 $357,845 $0 7.44%
    White 247 $39,595,000 $160,304 $2,227 7.40%
    Asian 8 $2,250,000 $281,250 $4,311 7.03%
    Not provided 9 $2,125,000 $236,111 $2,281 7.11%
    Black 2 $140,000 $70,000 $0 8.06%
    Other Asian 1 $135,000 $135,000 $1,430 7.13%
    American Indian 1 $125,000 $125,000 $1,622 7.13%

    Approval Rates

    Total approvals of all applications
    91.54%

    First State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.45%

    First State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 384 $85,880,000 $223,646

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    384 $85,880,000 $223,646

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $3,960,000 $90,000 $1,641 7.71%
    40-60% 64 $13,890,000 $217,031 $2,309 7.29%
    60-80% 143 $46,235,000 $323,322 $2,699 7.30%
    80-100% 104 $19,920,000 $191,538 $2,363 7.27%
    Under 20% 29 $1,875,000 $64,655 $971 8.15%