First State Bank Mortgage Rates, Fees & Info
Mendota, ILLEI: 549300CQG2T7TCGY8Q67
Tax ID: 36-1465165
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Mortgage Data
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.62% | 4/28/24 |
| 30 Year Conventional Refi | 6.51% | 4/28/24 |
| 30 Year Cash-out Refi | 6.49% | 4/28/24 |
| 15 Year Conventional Purchase | 5.94% | 4/28/24 |
| 15 Year Conventional Refi | 5.73% | 4/28/24 |
| 15 Year Cash-out Refi | 5.73% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
636Origination Dollar Volume (All Markets)
$150,110,000Awards
First State Bank - 2022
First State Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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% |
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.
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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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications94.58%
First State Bank has an average approval rate.
Pick Rate
Approvals leading to origination89.78%
First State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 636 | $150,110,000 | $236,022 |
LTV Distribution
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% |