First State Bank Of Forrest Mortgage Rates, Fees & Info

Forrest, IL

LEI: 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

224

Origination Dollar Volume (All Markets)

$21,090,000

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
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%
First State Bank Of Forrest's top markets include Pontiac, Peoria, Champaign, Bloomington, and Chicago among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 131 $15,705,000 $119,885 $0 0.00%
    Cash Out Refi 36 $2,900,000 $80,556 $0 0.00%
    Home Improvement 33 $1,255,000 $38,030 $0 0.00%
    Other 14 $730,000 $52,143 $0 0.00%
    Refi 10 $500,000 $50,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 149 $6,455,000 $43,322 $0 0.00%
    $100k-200k 49 $6,395,000 $130,510 $0 0.00%
    $200k-400k 21 $5,855,000 $278,810 $0 0.00%
    $400k-600k 5 $2,385,000 $477,000 $0 0.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 50 $2,520,000 $50,400 $0 0.00%
    $50k-75k 49 $4,155,000 $84,796 $0 0.00%
    $100k-150k 45 $4,895,000 $108,778 $0 0.00%
    $75k-100k 34 $2,540,000 $74,706 $0 0.00%
    $150k-250k 30 $4,410,000 $147,000 $0 0.00%
    $250k+ 3 $1,155,000 $385,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 199 $18,535,000 $93,141 $0 0.00%
    Not applicable 13 $1,415,000 $108,846 $0 0.00%
    Asian 3 $555,000 $185,000 $0 0.00%
    Black 4 $200,000 $50,000 $0 0.00%
    Other Asian 1 $165,000 $165,000 $0 0.00%
    American Indian 1 $85,000 $85,000 $0 0.00%
    Native Hawaiian or Islander 1 $85,000 $85,000 $0 0.00%
    Asian Indian 2 $50,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.89%

    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 origination
    96.43%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    224 $21,090,000 $94,152