First State Bank Of Forrest Mortgage Rates, Fees & Info
Forrest, ILLEI: 549300DNRGCN05KNA737
Tax ID: 37-0275030
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Mortgage Data
Review & Overview
First State Bank Of Forrest is a smaller bank specializing in Home Purchase loans. First State Bank Of Forrest has a high proportion of conventional loans. Their top markets by origination volume include: Pontiac, Peoria, Champaign, Bloomington, and Chicago among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)First State Bank Of Forrest 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.
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Originations
224Origination Dollar Volume (All Markets)
$21,090,000Top 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 |
|---|---|---|---|---|---|
| Pontiac, IL (FHA|USDA|VA) | 103 | $8,365,000 | $81,214 | $0 | 0.00% |
| PEORIA, IL (FHA|USDA|VA) | 39 | $2,405,000 | $61,667 | $0 | 0.00% |
| Outside of Metro Areas | 23 | $2,385,000 | $103,696 | $0 | 0.00% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 16 | $2,230,000 | $139,375 | $0 | 0.00% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 21 | $2,135,000 | $101,667 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 6 | $1,600,000 | $266,667 | $0 | 0.00% |
| Ottawa, IL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $0 | 0.00% |
| FORT WAYNE, IN (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $0 | 0.00% |
| Auburn, IN (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| KANKAKEE, IL (FHA|USDA|VA) | 3 | $255,000 | $85,000 | $0 | 0.00% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Sterling, IL (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 0.00% |
| DECATUR, IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Lincoln, IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 224 | $21,090,000 | $94,152 | $0 | 0.00% |
For 2023, First State Bank Of Forrest's most frequently originated type of loan was Conventional, with 224 originations.
Loan Reason
For 2023, First State Bank Of Forrest's most frequently cited loan purpose was Home Purchase, with 131 originations. The 2nd most popular reason was Cash Out Refi, with 36 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 224 | $21,090,000 | $94,152 | $0 | 0.00% |
For 2023, First State Bank Of Forrest's most frequently cited loan duration was Other, with 224 originations.
Loan Sizing
2023 saw First State Bank Of Forrest place emphasis on $100,000 or less loans with 149 originations, totaling $6,455,000 in origination value.
Applicant Income
First State Bank Of Forrest lent most frequently to those with incomes in the $50k or less range, with 50 originations. The second most popular income band? $50k-75k, with 49 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 224 | $21,090,000 | $94,152 | $0 | 0.00% |
First State Bank Of Forrest lent most frequently to those with DTI ratios of Exempt%, with 224 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.89%
First State Bank Of Forrest has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination96.43%
First State Bank Of Forrest has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 224 | $21,090,000 | $94,152 |