Marine Bank Mortgage Rates, Fees & Info

Springfield, IL

LEI: 549300EKGRBBO8HEKR21

Tax ID: 37-0919766

5 stars - Updated: 12/4/23 - out of 5 stars, based on 25 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Marine Bank is a smaller bank specializing in Home Purchase loans. Marine Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Springfield, Champaign, Bloomington, Peoria, and Chicago among others. We have data for 28 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Marine 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. Marine 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 6.38% 12/4/23
    30 Year Conventional Refi 6.01% 12/4/23
    30 Year Cash-out Refi 6.34% 12/4/23
    30 Year FHA Purchase 7.10% 12/4/23
    30 Year FHA Refi 7.35% 12/4/23
    30 Year VA Purchase 6.06% 12/4/23
    30 Year VA Refi 6.27% 12/4/23
    30 Year USDA Purchase 6.54% 12/4/23
    15 Year Conventional Purchase 5.86% 12/4/23
    15 Year Conventional Refi 5.72% 12/4/23
    15 Year Cash-out Refi 5.72% 12/4/23
    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.

    Marine Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Marine 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

    644

    Origination Dollar Volume (All Markets)

    $100,580,000
    Show all (16) awards

    Relative Rate

    Marine Bank's average 30 year fixed mortgage rate was 4.87%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.11%.

    Relative Fees (Closing Costs)

    Marine Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,509.

    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
    SPRINGFIELD, IL (FHA|USDA|VA) 369 $45,175,000 $122,425 $1,753 4.97%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 88 $23,580,000 $267,955 $1,714 4.67%
    BLOOMINGTON, IL (FHA|USDA|VA) 91 $15,505,000 $170,385 $2,185 4.89%
    Outside of Metro Areas 25 $3,295,000 $131,800 $1,970 4.60%
    PEORIA, IL (FHA|USDA|VA) 13 $2,925,000 $225,000 $2,057 5.12%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $1,645,000 $548,333 $0 5.27%
    Macomb, IL (FHA|USDA|VA) 9 $1,175,000 $130,556 $1,528 4.60%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 8 $820,000 $102,500 $1,738 5.09%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $700,000 $350,000 $2,502 4.06%
    Jacksonville, IL (FHA|USDA|VA) 4 $550,000 $137,500 $2,281 5.41%
    DECATUR, IL (FHA|USDA|VA) 5 $485,000 $97,000 $4,706 4.90%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $475,000 $475,000 $9,668 5.13%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $475,000 $475,000 $5,087 3.63%
    McMinnville, TN (FHA|USDA|VA) 1 $425,000 $425,000 $3,879 3.75%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $405,000 $405,000 $0 3.75%
    Taylorville, IL (FHA|USDA|VA) 5 $395,000 $79,000 $808 5.44%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $345,000 $345,000 $14,640 5.50%
    Lincoln, IL (FHA|USDA|VA) 4 $330,000 $82,500 $1,581 3.53%
    Sterling, IL (FHA|USDA|VA) 2 $330,000 $165,000 $1,374 5.13%
    MADISON, WI (FHA|USDA|VA) 1 $325,000 $325,000 $2,125 6.38%
    Galesburg, IL (FHA|USDA|VA) 1 $255,000 $255,000 $1,854 5.25%
    DANVILLE, IL (FHA|USDA|VA) 3 $235,000 $78,333 $1,159 4.27%
    Albertville, AL (FHA|USDA|VA) 1 $175,000 $175,000 $2,649 4.00%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $145,000 $145,000 $2,243 2.88%
    Dixon, IL (FHA|USDA|VA) 1 $105,000 $105,000 $2,061 5.13%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $105,000 $105,000 $2,083 3.88%
    Charleston-Mattoon, IL (FHA|USDA|VA) 1 $105,000 $105,000 $1,786 2.88%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $95,000 $95,000 $1,936 5.63%
    Marine Bank's top markets include Springfield, Champaign, Bloomington, Peoria, and Chicago among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Marine Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    First State Bank
    Similarity Rank: 27
    First Savings Bank of Hegewisch
    Similarity Rank: 30
    HEARTLAND
    Similarity Rank: 84
    Alliance Community Bank
    Similarity Rank: 144
    Liberty Bank for Savings
    Similarity Rank: 153
    Goodfield State Bank
    Similarity Rank: 216
    UNIVERSITY OF ILLINOIS COMMUNITY
    Similarity Rank: 216
    Prairie State Bank and Trust
    Similarity Rank: 360
    Hickory Point Bank and Trust
    Similarity Rank: 495
    CBI Bank & Trust
    Similarity Rank: 540

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 604 $94,270,000 $156,076 $1,637 4.90%
    FHA 19 $2,605,000 $137,105 $4,964 4.89%
    VA 16 $3,130,000 $195,625 $5,125 4.38%
    USDA 5 $575,000 $115,000 $3,250 4.55%

    For 2022, Marine Bank's most frequently originated type of loan was Conventional, with 604 originations. Their 2nd most popular type was FHA, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 413 $80,565,000 $195,073 $2,409 4.99%
    Refi 102 $10,590,000 $103,824 $1,092 4.30%
    Home Improvement 60 $2,120,000 $35,333 $517 5.50%
    Cash Out Refi 47 $5,765,000 $122,660 $1,767 4.05%
    Other 22 $1,540,000 $70,000 $653 5.67%

    For 2022, Marine Bank's most frequently cited loan purpose was Home Purchase, with 413 originations. The 2nd most popular reason was Refi, with 102 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 318 $55,480,000 $174,465 $2,509 4.87%
    5 Year 138 $14,490,000 $105,000 $363 4.98%
    Other 111 $12,415,000 $111,847 $699 5.50%
    15 Year 45 $7,625,000 $169,444 $1,784 3.90%
    10 Year 17 $1,575,000 $92,647 $1,360 3.46%
    20 Year 12 $1,790,000 $149,167 $1,638 4.38%
    1 Year 2 $200,000 $100,000 $0 4.50%
    3 Year 1 $7,005,000 $7,005,000 $0 3.55%

    For 2022, Marine Bank's most frequently cited loan duration was 30 Year, with 318 originations. The 2nd most popular length was 5 Year, with 138 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 450 $66,790,000 $148,422
    $1k-2k 21 $3,725,000 $177,381
    $2k-3k 2 $610,000 $305,000
    $3k-4k 1 $235,000 $235,000
    $4k-5k 1 $195,000 $195,000
    $5k+ 1 $345,000 $345,000

    Marine Bank's average total fees were $2,509, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 450 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 226 $29,760,000 $131,681
    4-5% 155 $25,165,000 $162,355
    3-4% 128 $27,230,000 $212,734
    6-7% 82 $11,120,000 $135,610
    2.5-3% 28 $3,890,000 $138,929
    <2.5% 16 $2,310,000 $144,375
    7-8% 9 $1,105,000 $122,778

    During 2022, Marine Bank's average interest rate for loans was 4.87%, while their most frequently originated rate bucket for loans was 5-6%, with 226 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 295 $16,825,000 $57,034 $1,106 5.07%
    $100k-200k 209 $30,095,000 $143,995 $2,215 4.61%
    $200k-400k 111 $29,915,000 $269,505 $2,581 4.99%
    $400k-600k 23 $10,635,000 $462,391 $3,305 4.50%
    $1MM+ 3 $11,145,000 $3,715,000 $0 4.62%
    $600k-1MM 3 $1,965,000 $655,000 $1,828 4.83%

    2022 saw Marine Bank place emphasis on $100,000 or less loans with 295 originations, totaling $16,825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 137 $22,665,000 $165,438 $1,704 5.03%
    $50k or less 110 $9,500,000 $86,364 $2,120 4.74%
    $75k-100k 100 $14,960,000 $149,600 $2,157 4.83%
    $50k-75k 94 $10,730,000 $114,149 $1,874 4.68%
    $150k-250k 80 $14,260,000 $178,250 $1,700 4.98%
    $250k+ 25 $6,055,000 $242,200 $1,891 5.36%

    Marine Bank lent most frequently to those with incomes in the $100k-150k range, with 137 originations. The second most popular income band? $50k or less, with 110 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 145 $18,545,000 $127,897 $1,476 4.81%
    30-36% 108 $15,650,000 $144,907 $1,983 4.88%
    <20% 56 $6,210,000 $110,893 $1,621 4.75%
    44% 23 $3,635,000 $158,043 $2,034 4.88%
    45% 20 $3,980,000 $199,000 $3,046 5.46%
    36% 19 $3,275,000 $172,368 $2,538 4.84%
    38% 18 $2,860,000 $158,889 $2,180 4.89%
    39% 18 $2,070,000 $115,000 $1,889 5.35%
    37% 18 $2,690,000 $149,444 $1,850 5.11%
    40% 16 $3,070,000 $191,875 $2,511 5.06%
    42% 14 $2,490,000 $177,857 $1,976 4.75%
    41% 14 $2,560,000 $182,857 $2,610 4.57%
    43% 12 $1,860,000 $155,000 $1,387 5.43%
    49% 11 $2,085,000 $189,545 $2,015 5.15%
    46% 10 $1,890,000 $189,000 $2,167 4.44%
    48% 7 $1,335,000 $190,714 $2,014 4.95%
    47% 6 $1,130,000 $188,333 $3,084 5.18%
    50-60% 1 $145,000 $145,000 $5,410 3.75%

    Marine Bank lent most frequently to those with DTI ratios of 20-30%, with 145 originations. The next most common DTI ratio? 30-36%, with 108 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 466 $64,950,000 $139,378 $1,894 4.84%
    Not applicable 92 $21,880,000 $237,826 $0 4.91%
    Not provided 43 $6,005,000 $139,651 $2,278 5.01%
    Asian 28 $5,530,000 $197,500 $1,569 5.04%
    Black 13 $1,845,000 $141,923 $2,218 5.50%
    Asian Indian 1 $305,000 $305,000 $1,783 4.13%
    American Indian 1 $65,000 $65,000 $995 4.38%

    Approval Rates

    Total approvals of all applications
    90.77%

    Marine Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.42%

    Marine Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 644 $100,580,000 $156,180

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    644 $100,580,000 $156,180

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 52 $3,910,000 $75,192 $947 5.14%
    40-60% 56 $7,220,000 $128,929 $1,381 4.60%
    60-80% 219 $41,995,000 $191,758 $1,830 4.79%
    80-100% 245 $41,535,000 $169,531 $2,688 4.80%
    Over 100% 3 $635,000 $211,667 $6,106 4.08%
    Under 20% 69 $5,285,000 $76,594 $486 5.58%