Community State Bank Mortgage Rates, Fees & Info
Brook, INLEI: 549300K6I4IZA57BON59
Tax ID: 35-0242160
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Mortgage Data
Review & Overview
Community State Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Community State Bank has a high proportion of conventional loans. Their top two markets are Chicago and Lafayette .Community State Bank 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. Community State 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.
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Originations
55Origination Dollar Volume (All Markets)
$5,495,000Awards
Community State Bank - 2019
Community State Bank is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 52 | $5,270,000 | $101,346 | $1,027 | 5.83% |
| Outside of Metro Areas | 2 | $160,000 | $80,000 | $1,394 | 6.50% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $250 | 5.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Community State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 55 | $5,495,000 | $99,909 | $1,016 | 5.85% |
For 2019, Community State Bank's most frequently originated type of loan was Conventional, with 55 originations.
Loan Reason
For 2019, Community State Bank's most frequently cited loan purpose was Home Purchase, with 26 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.
Loan Duration/Length
For 2019, Community State Bank's most frequently cited loan duration was 20 Year, with 22 originations. The 2nd most popular length was 30 Year, with 20 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 42 | $4,460,000 | $106,190 |
Community State Bank's average total fees were $1,264, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 42 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 29 | $4,125,000 | $142,241 |
| 6-7% | 26 | $1,370,000 | $52,692 |
During 2019, Community State Bank's average interest rate for loans was 5.55%, while their most frequently originated rate bucket for loans was 5-6%, with 29 originations.
Loan Sizing
2019 saw Community State Bank place emphasis on $100,000 or less loans with 35 originations, totaling $1,625,000 in origination value.
Applicant Income
Community State Bank lent most frequently to those with incomes in the $50k or less range, with 17 originations. The second most popular income band? $50k-75k, with 14 originations.
Applicant Debt to Income Ratio
Community State Bank lent most frequently to those with DTI ratios of 20-30%, with 14 originations. The next most common DTI ratio? 30-36%, with 13 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 54 | $5,470,000 | $101,296 | $1,016 | 5.83% |
| Not applicable | 1 | $25,000 | $25,000 | $0 | 6.75% |
Approval Rates
Total approvals of all applications91.80%
Community State Bank has an average approval rate.
Pick Rate
Approvals leading to origination98.18%
Community State Bank 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 |
|---|---|---|---|
| NA | 55 | $5,495,000 | $99,909 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMMUNITY BANK SYSTEM, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 20.0% |
| COMMUNITY BANK SYSTEM, INC. | Conventional home mortgage | Trouble during payment process | 3 | 60.0% |
| COMMUNITY BANK SYSTEM, INC. | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 20.0% |