Marine Bank Mortgage Rates, Fees & Info
Springfield, ILLEI: 549300EKGRBBO8HEKR21
Tax ID: 37-0919766
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Mortgage Data
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, Jacksonville, and St. Louis among others. We have data for 19 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.38% | 12/16/24 |
| 30 Year Conventional Refi | 6.01% | 12/16/24 |
| 30 Year Cash-out Refi | 6.34% | 12/16/24 |
| 30 Year FHA Purchase | 7.10% | 12/16/24 |
| 30 Year FHA Refi | 7.35% | 12/16/24 |
| 30 Year VA Purchase | 6.06% | 12/16/24 |
| 30 Year VA Refi | 6.27% | 12/16/24 |
| 30 Year USDA Purchase | 6.54% | 12/16/24 |
| 15 Year Conventional Purchase | 5.86% | 12/16/24 |
| 15 Year Conventional Refi | 5.72% | 12/16/24 |
| 15 Year Cash-out Refi | 5.72% | 12/16/24 |
| 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. | ||
Marine Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Marine Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
183Origination Dollar Volume (All Markets)
$26,005,000Awards
Marine Bank - 2023
Marine Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Marine Bank's average 30 year fixed mortgage rate was
6.18%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.3%.
Relative Fees (Closing Costs)
Marine Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,692.
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 $9,089.
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) | 100 | $12,390,000 | $123,900 | $1,595 | 6.63% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 37 | $4,715,000 | $127,432 | $2,037 | 6.45% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 15 | $3,375,000 | $225,000 | $2,703 | 6.46% |
| Outside of Metro Areas | 5 | $805,000 | $161,000 | $2,624 | 6.73% |
| Jacksonville, IL (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $2,289 | 7.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $4,093 | 6.19% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $4,049 | 7.13% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $3,470 | 6.38% |
| PEORIA, IL (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $2,109 | 6.25% |
| Warsaw, IN (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $1,944 | 6.75% |
| Taylorville, IL (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $1,849 | 6.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,010 | 6.13% |
| Fort Dodge, IA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,836 | 6.38% |
| Quincy, IL-MO (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,320 | 6.75% |
| Lincoln, IL (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $1,901 | 6.06% |
| Pontiac, IL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,652 | 6.50% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,667 | 5.88% |
| DECATUR, IL (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 6.00% |
| Macomb, IL (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $1,224 | 6.13% |
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.
Similarity Rank: 45
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Similarity Rank: 128
Similarity Rank: 190
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Similarity Rank: 266
Similarity Rank: 279
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Product Mix
For 2023, Marine Bank's most frequently originated type of loan was Conventional, with 175 originations. Their 2nd most popular type was FHA, with 3 originations.
Loan Reason
For 2023, Marine Bank's most frequently cited loan purpose was Home Purchase, with 128 originations. The 2nd most popular reason was Refi, with 22 originations.
Loan Duration/Length
For 2023, Marine Bank's most frequently cited loan duration was 30 Year, with 97 originations. The 2nd most popular length was Other, with 42 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 127 | $18,465,000 | $145,394 |
| $1k-2k | 5 | $1,285,000 | $257,000 |
| $3k-4k | 1 | $375,000 | $375,000 |
Marine Bank's average total fees were $2,692, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 127 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 106 | $16,070,000 | $151,604 |
| 5-6% | 45 | $6,565,000 | $145,889 |
| 7-8% | 21 | $1,535,000 | $73,095 |
| Over 8% | 10 | $1,710,000 | $171,000 |
| 4-5% | 1 | $125,000 | $125,000 |
During 2023, Marine Bank's average interest rate for loans was 6.18%, while their most frequently originated rate bucket for loans was 6-7%, with 106 originations.
Loan Sizing
2023 saw Marine Bank place emphasis on $100,000 or less loans with 87 originations, totaling $4,625,000 in origination value.
Applicant Income
Marine Bank lent most frequently to those with incomes in the $150k-250k range, with 44 originations. The second most popular income band? $100k-150k, with 38 originations.
Applicant Debt to Income Ratio
Marine Bank lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 29 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.28%
Marine Bank has an average approval rate.
Pick Rate
Approvals leading to origination78.69%
Marine Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 183 | $26,005,000 | $142,104 |