Providence Bank & Trust Mortgage Rates, Fees & Info
South Holland, ILLEI: 549300GY0I1WYYWYFS47
Tax ID: 20-0241351
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Mortgage Data
Review & Overview
Providence 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.
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SimulatedRates™Mortgage Type |
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. |
Originations
165Origination Dollar Volume (All Markets)
$122,915,000Relative Rate
Providence Bank & Trust's average 30 year fixed mortgage rate was
5.03%.
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.
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 |
---|---|---|---|---|---|
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% |
Similar Lenders
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
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Similarity Rank: 933
Similarity Rank: 936
Similarity Rank: 1144
Similarity Rank: 1252
Similarity Rank: 1260
Similarity Rank: 1722
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 165 | $122,915,000 | $744,939 | $2,921 | 4.85% |
For 2022, Providence Bank & Trust's most frequently originated type of loan was Conventional, with 165 originations.
Loan Reason
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.
Loan Duration/Length
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
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.
Interest Rates
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.
Loan Sizing
2022 saw Providence Bank & Trust place emphasis on $200k-400k loans with 53 originations, totaling $14,705,000 in origination value.
Applicant Income
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.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.42%
Providence Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination81.21%
Providence Bank & Trust has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 165 | $122,915,000 | $744,939 |