Bank Of Hillsboro Mortgage Rates, Fees & Info

Hillsboro, IL

LEI: 549300KTBKVRBY302A16

Tax ID: 37-0611788

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Bank Of Hillsboro is a smaller bank specializing in Home Purchase loans. Bank Of Hillsboro has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Murray, Effingham, Taylorville, and Sevierville among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Hillsboro has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bank Of Hillsboro 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.

    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 6.83% 12/16/24
    30 Year Conventional Refi 6.58% 12/16/24
    30 Year Cash-out Refi 6.95% 12/16/24
    15 Year Conventional Purchase 6.29% 12/16/24
    15 Year Conventional Refi 5.75% 12/16/24
    15 Year Cash-out Refi 5.75% 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.

    Bank Of Hillsboro Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Bank Of Hillsboro. 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

    219

    Origination Dollar Volume (All Markets)

    $33,575,000

    Awards

    Bank of Hillsboro 30 Year Conventional Loans gold Bank of Hillsboro 30 Year Conventional Loans gold Bank of Hillsboro 30 Year Conventional Loans gold
    Show all (3) awards

    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
    ST. LOUIS, MO-IL (FHA|USDA|VA) 153 $23,775,000 $155,392 $1,941 5.03%
    Outside of Metro Areas 50 $6,140,000 $122,800 $1,697 5.12%
    Murray, KY (FHA|USDA|VA) 1 $1,375,000 $1,375,000 $0 4.86%
    Effingham, IL (FHA|USDA|VA) 5 $985,000 $197,000 $2,708 5.62%
    Taylorville, IL (FHA|USDA|VA) 5 $475,000 $95,000 $1,400 5.00%
    Sevierville, TN (FHA|USDA|VA) 1 $355,000 $355,000 $0 3.90%
    Centralia, IL (FHA|USDA|VA) 3 $315,000 $105,000 $1,676 4.25%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $155,000 $155,000 $1,535 4.00%
    Bank Of Hillsboro's top markets include St. Louis, Murray, Effingham, Taylorville, and Sevierville among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)

    • Similar Lenders

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

    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 59
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 126
    First National Bank of Waterloo
    Similarity Rank: 216
    Gateway Metro Federal Credit Union
    Similarity Rank: 240
    MORTGAGE SOLUTIONS LLC
    Similarity Rank: 368
    United Bank of Union
    Similarity Rank: 450
    JERSEY STATE BANK
    Similarity Rank: 452
    Bank of Washington
    Similarity Rank: 728
    ALLTRU Federal Credit Union
    Similarity Rank: 764
    ELECTRO SAVINGS CREDIT UNION
    Similarity Rank: 888

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 219 $33,575,000 $153,311 $1,871 5.04%

    For 2022, Bank Of Hillsboro's most frequently originated type of loan was Conventional, with 219 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 137 $24,525,000 $179,015 $1,903 5.13%
    Cash Out Refi 40 $5,120,000 $128,000 $2,245 4.85%
    Other 18 $1,670,000 $92,778 $1,347 4.88%
    Refi 13 $1,765,000 $135,769 $1,709 4.82%
    Home Improvement 11 $495,000 $45,000 $1,307 5.07%

    For 2022, Bank Of Hillsboro's most frequently cited loan purpose was Home Purchase, with 137 originations. The 2nd most popular reason was Cash Out Refi, with 40 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 103 $15,505,000 $150,534 $2,042 5.26%
    15 Year 48 $4,860,000 $101,250 $1,580 4.70%
    5 Year 33 $9,645,000 $292,273 $1,679 4.52%
    20 Year 24 $2,640,000 $110,000 $1,966 5.38%
    Other 6 $330,000 $55,000 $1,192 5.92%
    10 Year 3 $155,000 $51,667 $1,741 3.88%
    3 Year 2 $440,000 $220,000 $0 5.62%

    For 2022, Bank Of Hillsboro's most frequently cited loan duration was 30 Year, with 103 originations. The 2nd most popular length was 15 Year, with 48 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 138 $16,470,000 $119,348
    $1k-2k 24 $3,350,000 $139,583
    $2k-3k 6 $1,230,000 $205,000
    $3k-4k 2 $310,000 $155,000
    $4k-5k 2 $430,000 $215,000

    Bank Of Hillsboro's average total fees were $2,042, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 138 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 77 $11,165,000 $145,000
    3-4% 51 $9,135,000 $179,118
    4-5% 51 $8,455,000 $165,784
    6-7% 31 $3,915,000 $126,290
    2.5-3% 4 $230,000 $57,500
    7-8% 4 $600,000 $150,000
    Over 8% 1 $75,000 $75,000

    During 2022, Bank Of Hillsboro's average interest rate for loans was 5.26%, while their most frequently originated rate bucket for loans was 5-6%, with 77 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 103 $6,005,000 $58,301 $1,635 5.08%
    $100k-200k 75 $11,105,000 $148,067 $1,948 5.00%
    $200k-400k 32 $8,800,000 $275,000 $2,515 4.99%
    $400k-600k 4 $1,730,000 $432,500 $2,077 5.36%
    $600k-1MM 3 $2,255,000 $751,667 $3,624 5.07%
    $1MM+ 2 $3,680,000 $1,840,000 $0 4.18%

    2022 saw Bank Of Hillsboro place emphasis on $100,000 or less loans with 103 originations, totaling $6,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 44 $4,910,000 $111,591 $1,779 4.99%
    $50k or less 44 $3,230,000 $73,409 $1,739 5.22%
    $75k-100k 31 $3,695,000 $119,194 $1,982 4.98%
    $100k-150k 30 $4,950,000 $165,000 $2,137 4.96%
    $150k-250k 19 $3,665,000 $192,895 $1,849 5.29%
    $250k+ 9 $4,495,000 $499,444 $2,100 5.11%

    Bank Of Hillsboro lent most frequently to those with incomes in the $50k-75k range, with 44 originations. The second most popular income band? $50k or less, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 46 $5,200,000 $113,043 $1,694 5.24%
    20-30% 43 $3,925,000 $91,279 $1,675 5.11%
    <20% 18 $2,580,000 $143,333 $1,835 5.26%
    42% 9 $1,075,000 $119,444 $1,761 4.76%
    39% 7 $785,000 $112,143 $2,461 4.95%
    36% 6 $1,000,000 $166,667 $2,091 4.90%
    38% 6 $680,000 $113,333 $1,779 5.65%
    45% 6 $1,660,000 $276,667 $1,983 4.56%
    41% 5 $355,000 $71,000 $2,086 5.28%
    >60% 4 $2,800,000 $700,000 $0 4.31%
    40% 4 $570,000 $142,500 $2,457 5.06%
    43% 4 $290,000 $72,500 $1,469 5.53%
    44% 4 $560,000 $140,000 $2,724 4.34%
    46% 3 $405,000 $135,000 $1,862 3.96%
    49% 3 $575,000 $191,667 $2,948 5.38%
    50-60% 3 $485,000 $161,667 $1,871 5.04%
    37% 3 $425,000 $141,667 $1,850 5.58%
    47% 2 $500,000 $250,000 $2,478 5.63%
    48% 2 $380,000 $190,000 $2,329 3.81%

    Bank Of Hillsboro lent most frequently to those with DTI ratios of 30-36%, with 46 originations. The next most common DTI ratio? 20-30%, with 43 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 164 $19,840,000 $120,976 $1,840 5.08%
    Not applicable 39 $8,405,000 $215,513 $0 4.85%
    Asian 6 $3,620,000 $603,333 $2,018 5.17%
    Asian Indian 2 $930,000 $465,000 $2,923 5.63%
    Black 5 $455,000 $91,000 $2,498 5.38%
    Not provided 2 $200,000 $100,000 $1,588 3.56%
    American Indian 1 $125,000 $125,000 $1,441 5.25%

    Approval Rates

    Total approvals of all applications
    84.64%

    Bank Of Hillsboro has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    69.86%

    Bank Of Hillsboro has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 219 $33,575,000 $153,311

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    219 $33,575,000 $153,311

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $1,230,000 $76,875 $1,339 5.60%
    40-60% 35 $4,955,000 $141,571 $1,655 4.49%
    60-80% 93 $16,765,000 $180,269 $2,029 5.07%
    80-100% 66 $9,890,000 $149,848 $2,067 5.08%
    Under 20% 9 $735,000 $81,667 $906 5.52%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    BANK OF AMERICA, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Trouble during payment process 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 20.0%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 7 46.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION FHA mortgage Struggling to pay mortgage 1 6.7%
    BANK OF AMERICA, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 6.7%