First State Bank Mortgage Rates, Fees & Info

Mendota, IL

LEI: 549300CQG2T7TCGY8Q67

Tax ID: 36-1465165

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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, Ottawa, Bloomington, Champaign, and Dixon among others. We have data for 34 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 a below 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 6.62% 12/16/24
    30 Year Conventional Refi 6.51% 12/16/24
    30 Year Cash-out Refi 6.49% 12/16/24
    15 Year Conventional Purchase 5.94% 12/16/24
    15 Year Conventional Refi 5.73% 12/16/24
    15 Year Cash-out Refi 5.73% 12/16/24
    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.

    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

    636

    Origination Dollar Volume (All Markets)

    $150,110,000
    Show all (9) awards

    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) 105 $50,555,000 $481,476 $2,668 4.50%
    Ottawa, IL (FHA|USDA|VA) 216 $26,640,000 $123,333 $1,657 4.56%
    BLOOMINGTON, IL (FHA|USDA|VA) 117 $24,425,000 $208,761 $1,689 4.85%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 32 $18,840,000 $588,750 $1,487 4.80%
    Dixon, IL (FHA|USDA|VA) 40 $5,400,000 $135,000 $2,129 4.41%
    Rochelle, IL (FHA|USDA|VA) 38 $4,270,000 $112,368 $2,179 4.32%
    PEORIA, IL (FHA|USDA|VA) 23 $3,355,000 $145,870 $1,685 5.18%
    Outside of Metro Areas 8 $2,990,000 $373,750 $2,680 4.43%
    Pontiac, IL (FHA|USDA|VA) 13 $1,345,000 $103,462 $1,775 4.79%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 5 $1,215,000 $243,000 $0 5.90%
    ROCKFORD, IL (FHA|USDA|VA) 4 $1,200,000 $300,000 $2,519 4.53%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $980,000 $490,000 $3,050 4.60%
    KANKAKEE, IL (FHA|USDA|VA) 2 $930,000 $465,000 $0 4.25%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $830,000 $415,000 $0 5.00%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $805,000 $805,000 $0 4.25%
    Shelby, NC (FHA|USDA|VA) 1 $605,000 $605,000 $0 4.25%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $545,000 $545,000 $5,065 4.13%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $530,000 $265,000 $2,566 3.19%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $505,000 $505,000 $6,198 4.25%
    Effingham, IL (FHA|USDA|VA) 1 $505,000 $505,000 $0 5.25%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $505,000 $505,000 $4,557 3.88%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 4 $480,000 $120,000 $2,335 4.44%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $460,000 $230,000 $0 4.10%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $455,000 $455,000 $0 5.00%
    RENO, NV (FHA|USDA|VA) 1 $425,000 $425,000 $0 5.00%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $305,000 $305,000 $0 4.00%
    DANVILLE, IL (FHA|USDA|VA) 4 $210,000 $52,500 $0 4.44%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,822 4.25%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $155,000 $155,000 $0 4.26%
    Sterling, IL (FHA|USDA|VA) 2 $120,000 $60,000 $0 5.75%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $115,000 $115,000 $0 3.88%
    Athens, TN (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.00%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $75,000 $75,000 $1,620 4.88%
    Macomb, IL (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.50%
    First State Bank's top markets include Chicago, Ottawa, Bloomington, Champaign, and Dixon among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Nevada (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: 64
    Stillman Bank
    Similarity Rank: 84
    Prairie State Bank and Trust
    Similarity Rank: 90
    Liberty Bank for Savings
    Similarity Rank: 116
    Byron Bank
    Similarity Rank: 126
    FINANCIAL PLUS
    Similarity Rank: 210
    United Community Bank
    Similarity Rank: 250
    IAA Credit Union
    Similarity Rank: 290
    Morton Community Bank
    Similarity Rank: 342
    Central Bank Illinois
    Similarity Rank: 406

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 636 $150,110,000 $236,022 $1,944 4.62%

    For 2022, First State Bank's most frequently originated type of loan was Conventional, with 636 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 392 $103,300,000 $263,520 $2,314 4.78%
    Refi 141 $33,535,000 $237,837 $1,396 4.03%
    Other 36 $4,390,000 $121,944 $1,295 5.37%
    Home Improvement 34 $3,450,000 $101,471 $1,293 5.11%
    Cash Out Refi 33 $5,435,000 $164,697 $2,685 3.92%

    For 2022, First State Bank's most frequently cited loan purpose was Home Purchase, with 392 originations. The 2nd most popular reason was Refi, with 141 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 187 $37,735,000 $201,791 $2,273 4.53%
    5 Year 152 $40,300,000 $265,132 $590 4.92%
    20 Year 117 $33,515,000 $286,453 $2,073 4.88%
    10 Year 56 $6,000,000 $107,143 $1,362 3.27%
    15 Year 56 $6,040,000 $107,857 $1,730 3.80%
    Other 48 $22,700,000 $472,917 $911 5.67%
    1 Year 20 $3,820,000 $191,000 $0 5.34%

    For 2022, First State Bank's most frequently cited loan duration was 30 Year, with 187 originations. The 2nd most popular length was 5 Year, with 152 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 258 $40,090,000 $155,388
    $1k-2k 42 $6,970,000 $165,952
    $2k-3k 14 $3,670,000 $262,143
    $3k-4k 5 $1,325,000 $265,000
    $5k+ 1 $275,000 $275,000

    First State Bank's average total fees were $2,273, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 258 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 209 $48,735,000 $233,182
    3-4% 158 $55,060,000 $348,481
    5-6% 143 $28,695,000 $200,664
    6-7% 62 $9,930,000 $160,161
    <2.5% 34 $4,440,000 $130,588
    2.5-3% 19 $2,235,000 $117,632
    7-8% 9 $925,000 $102,778
    Over 8% 2 $90,000 $45,000

    During 2022, First State Bank's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 4-5%, with 209 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 233 $14,655,000 $62,897 $1,485 4.82%
    $100k-200k 218 $31,670,000 $145,275 $1,953 4.43%
    $200k-400k 110 $29,040,000 $264,000 $2,428 4.75%
    $400k-600k 33 $15,505,000 $469,848 $3,292 4.44%
    $600k-1MM 22 $15,950,000 $725,000 $2,863 4.38%
    $1MM+ 20 $43,290,000 $2,164,500 $2,350 4.29%

    2022 saw First State Bank place emphasis on $100,000 or less loans with 233 originations, totaling $14,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 110 $12,650,000 $115,000 $1,900 4.47%
    $100k-150k 101 $16,325,000 $161,634 $1,930 4.66%
    $75k-100k 85 $11,875,000 $139,706 $1,977 4.66%
    $50k or less 69 $5,275,000 $76,449 $1,647 4.48%
    $150k-250k 63 $12,475,000 $198,016 $2,058 4.55%
    $250k+ 49 $16,185,000 $330,306 $2,811 4.80%

    First State Bank lent most frequently to those with incomes in the $50k-75k range, with 110 originations. The second most popular income band? $100k-150k, with 101 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 84 $13,320,000 $158,571 $1,994 4.09%
    30-36% 75 $12,195,000 $162,600 $1,885 4.34%
    <20% 36 $5,780,000 $160,556 $1,810 3.95%
    40% 17 $2,735,000 $160,882 $2,089 4.38%
    36% 16 $2,290,000 $143,125 $2,011 4.54%
    42% 15 $1,895,000 $126,333 $2,113 5.17%
    37% 15 $2,255,000 $150,333 $1,534 4.48%
    39% 14 $2,560,000 $182,857 $2,575 4.30%
    38% 13 $2,655,000 $204,231 $1,969 4.25%
    41% 12 $2,420,000 $201,667 $1,691 3.93%
    50-60% 8 $1,270,000 $158,750 $1,275 5.34%
    44% 6 $900,000 $150,000 $2,259 4.29%
    45% 4 $600,000 $150,000 $1,754 5.44%
    43% 4 $590,000 $147,500 $1,549 5.50%
    47% 3 $305,000 $101,667 $1,996 5.42%
    48% 3 $685,000 $228,333 $2,870 4.00%
    46% 2 $460,000 $230,000 $1,977 3.88%
    49% 2 $570,000 $285,000 $3,462 3.63%
    >60% 1 $155,000 $155,000 $1,364 5.00%

    First State Bank lent most frequently to those with DTI ratios of 20-30%, with 84 originations. The next most common DTI ratio? 30-36%, with 75 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 146 $72,210,000 $494,589 $0 4.73%
    White 457 $70,735,000 $154,781 $1,917 4.62%
    Not provided 17 $4,035,000 $237,353 $2,756 4.18%
    Asian 6 $1,870,000 $311,667 $1,315 4.40%
    Black 5 $555,000 $111,000 $1,484 3.70%
    Other Asian 1 $345,000 $345,000 $1,288 5.25%
    Vietnamese 1 $185,000 $185,000 $2,954 5.00%
    American Indian 3 $175,000 $58,333 $1,726 3.63%

    Approval Rates

    Total approvals of all applications
    94.58%

    First State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.78%

    First State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 636 $150,110,000 $236,022

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    636 $150,110,000 $236,022

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 64 $7,570,000 $118,281 $1,461 4.52%
    40-60% 103 $19,955,000 $193,738 $1,627 4.41%
    60-80% 253 $80,885,000 $319,704 $2,231 4.56%
    80-100% 191 $40,545,000 $212,277 $2,155 4.66%
    Under 20% 25 $1,155,000 $46,200 $819 6.10%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%