The First National Bank Of Ottawa Mortgage Rates, Fees & Info
Ottawa, ILLEI: 549300DL7AWRPX6NXO12
Tax ID: 36-1588745
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
The First National Bank Of Ottawa is a smaller bank specializing in Home Purchase and Refi loans. The First National Bank Of Ottawa has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Chicago, Ottawa, San Diego, Salinas, and Sacramento among others. We have data for 27 markets. (Some data included below & more in-depth data is available with an active subscription.)The First National Bank Of Ottawa 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. The First National Bank Of Ottawa 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 | 6.58% | 3/27/23 |
| 30 Year Conventional Refi | 6.25% | 3/27/23 |
| 30 Year Cash-out Refi | 6.30% | 3/27/23 |
| 30 Year USDA Purchase | 7.03% | 3/27/23 |
| 15 Year Conventional Purchase | 5.91% | 3/27/23 |
| 15 Year Conventional Refi | 5.89% | 3/27/23 |
| 15 Year Cash-out Refi | 5.89% | 3/27/23 |
| 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. | ||
Originations
246Origination Dollar Volume (All Markets)
$78,410,000Awards
The First National Bank of Ottawa - 2022
The First National Bank of Ottawa is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
The First National Bank Of Ottawa's average 30 year fixed mortgage rate was
5.01%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.25%.
Relative Fees (Closing Costs)
The First National Bank Of Ottawa's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,885.
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 $4,750.
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) | 113 | $47,805,000 | $423,053 | $3,985 | 4.64% |
| Ottawa, IL (FHA|USDA|VA) | 94 | $12,330,000 | $131,170 | $2,739 | 5.14% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $3,175,000 | $1,058,333 | $0 | 4.57% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $2,555,000 | $2,555,000 | $0 | 4.25% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $1,345,000 | $1,345,000 | $5,269 | 3.63% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $1,220,000 | $610,000 | $9,319 | 4.06% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 4 | $1,200,000 | $300,000 | $4,893 | 4.57% |
| Outside of Metro Areas | 3 | $1,145,000 | $381,667 | $7,772 | 5.71% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $6,367 | 3.63% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $5,960 | 5.88% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $6,126 | 3.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $0 | 5.63% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $5,373 | 6.25% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $5,530 | 6.00% |
| Pontiac, IL (FHA|USDA|VA) | 6 | $470,000 | $78,333 | $3,431 | 5.54% |
| NILES, MI (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $5,554 | 5.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $6,797 | 5.63% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 4.50% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,188 | 7.25% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,970 | 3.25% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,229 | 3.50% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,379 | 6.88% |
| TULSA, OK (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,681 | 5.75% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,674 | 3.75% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 5.75% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 4.95% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,195 | 3.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against The First National Bank of Ottawa based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 30
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 233 | $73,765,000 | $316,588 | $3,605 | 4.87% |
| USDA | 8 | $830,000 | $103,750 | $4,664 | 5.09% |
| HELOC | 5 | $3,815,000 | $763,000 | n/a | 5.45% |
For 2022, The First National Bank Of Ottawa's most frequently originated type of loan was Conventional, with 233 originations. Their 2nd most popular type was USDA, with 8 originations.
Loan Reason
For 2022, The First National Bank Of Ottawa's most frequently cited loan purpose was Home Purchase, with 153 originations. The 2nd most popular reason was Refi, with 56 originations.
Loan Duration/Length
For 2022, The First National Bank Of Ottawa's most frequently cited loan duration was 30 Year, with 172 originations. The 2nd most popular length was 5 Year, with 27 originations.
Origination Fees/Closing Costs
The First National Bank Of Ottawa's average total fees were $3,885, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 147 originations.
Interest Rates
During 2022, The First National Bank Of Ottawa's average interest rate for loans was 5.01%, while their most frequently originated rate bucket for loans was 5-6%, with 99 originations.
Loan Sizing
2022 saw The First National Bank Of Ottawa place emphasis on $100k-200k loans with 78 originations, totaling $11,090,000 in origination value.
Applicant Income
The First National Bank Of Ottawa lent most frequently to those with incomes in the $100k-150k range, with 39 originations. The second most popular income band? $150k-250k, with 39 originations.
Applicant Debt to Income Ratio
The First National Bank Of Ottawa lent most frequently to those with DTI ratios of 20-30%, with 49 originations. The next most common DTI ratio? 30-36%, with 39 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.88%
The First National Bank Of Ottawa has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination90.24%
The First National Bank Of Ottawa has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 40.0 | 1 | $45,000 | $45,000 |
| NA | 245 | $78,365,000 | $319,857 |