Providence Bank & Trust Mortgage Rates, Fees & InfoSouth Holland, IL
Tax ID: 20-0241351
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewProvidence Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. Providence Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Monroe, Toledo, Peru, and Tampa among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)
Providence Bank & Trust 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. Providence Bank & Trust 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.
|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.71%||3/27/23|
|30 Year Conventional Refi||6.60%||3/27/23|
|30 Year Cash-out Refi||6.65%||3/27/23|
|15 Year Conventional Purchase||6.18%||3/27/23|
|15 Year Conventional Refi||6.15%||3/27/23|
|15 Year Cash-out Refi||6.15%||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.|
Origination Dollar Volume (All Markets)$122,915,000
Providence Bank & Trust's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.27%.
Relative Fees (Closing Costs)
Providence Bank & Trust's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,244.
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.
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)||150||$114,580,000||$763,867||$2,871||4.81%|
|MONROE, MI (FHA|USDA|VA)||2||$3,620,000||$1,810,000||$0||5.75%|
|TOLEDO, OH (FHA|USDA|VA)||1||$1,455,000||$1,455,000||$0||5.75%|
|Peru, IN (FHA|USDA|VA)||1||$785,000||$785,000||$0||6.39%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||2||$600,000||$300,000||$5,987||6.38%|
|Pontiac, IL (FHA|USDA|VA)||1||$455,000||$455,000||$0||4.00%|
|Outside of Metro Areas||2||$440,000||$220,000||$2,583||4.50%|
|INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA)||1||$305,000||$305,000||$3,551||5.00%|
|KANKAKEE, IL (FHA|USDA|VA)||1||$225,000||$225,000||$4,040||5.13%|
|Grand Rapids, MN (FHA|USDA|VA)||1||$205,000||$205,000||$2,662||4.50%|
|SPRINGFIELD, IL (FHA|USDA|VA)||1||$115,000||$115,000||$0||5.88%|
|Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)||1||$105,000||$105,000||$0||3.75%|
|CINCINNATI, OH-KY-IN (FHA|USDA|VA)||1||$25,000||$25,000||$0||5.75%|
We use machine learning to identify the top lenders compared against Providence Bank & Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 30
Similarity Rank: 153
Similarity Rank: 636
Similarity Rank: 840
Similarity Rank: 933
Similarity Rank: 936
Similarity Rank: 1144
Similarity Rank: 1252
Similarity Rank: 1260
Similarity Rank: 1722
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Providence Bank & Trust's most frequently originated type of loan was Conventional, with 165 originations.
For 2022, Providence Bank & Trust's most frequently cited loan purpose was Home Purchase, with 84 originations. The 2nd most popular reason was Refi, with 39 originations.
For 2022, Providence Bank & Trust's most frequently cited loan duration was 30 Year, with 62 originations. The 2nd most popular length was 5 Year, with 41 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Providence Bank & Trust's average total fees were $3,244, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 64 originations.
During 2022, Providence Bank & Trust's average interest rate for loans was 5.03%, while their most frequently originated rate bucket for loans was 4-5%, with 55 originations.
2022 saw Providence Bank & Trust place emphasis on $200k-400k loans with 53 originations, totaling $14,705,000 in origination value.
Providence Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 24 originations. The second most popular income band? $50k-75k, with 22 originations.
Applicant Debt to Income Ratio
Providence Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 17 originations.
Approval RatesTotal approvals of all applications
Providence Bank & Trust has an average approval rate.
Pick RateApprovals leading to origination
Providence Bank & Trust has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|