State Bank Of The Lakes Mortgage Rates, Fees & Info

Rosemont, IL

LEI: 549300KX2KT8MOAS5Q71

Tax ID: 36-1818210

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Mortgage Data

Review & Overview

State Bank Of The Lakes is a smaller bank specializing in Refi and Home Purchase loans. State Bank Of The Lakes has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Racine, Fayetteville, and Whitewater among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

State Bank Of The Lakes 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.

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Originations

62

Origination Dollar Volume (All Markets)

$12,770,000

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) 53 $10,205,000 $192,547 $0 0.00%
RACINE, WI (FHA|USDA|VA) 5 $1,345,000 $269,000 $0 0.00%
FAYETTEVILLE, NC (FHA|USDA|VA) 2 $810,000 $405,000 $0 0.00%
Whitewater, WI (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
Outside of Metro Areas 1 $125,000 $125,000 $0 0.00%
State Bank Of The Lakes's top markets include Chicago, Racine, Fayetteville, and Whitewater among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 62 $12,770,000 $205,968 $0 0.00%

    For 2018, State Bank Of The Lakes's most frequently originated type of loan was Conventional, with 62 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 30 $7,520,000 $250,667 $0 0.00%
    Home Purchase 26 $4,600,000 $176,923 $0 0.00%
    Home Improvement 5 $405,000 $81,000 $0 0.00%
    Cash Out Refi 1 $245,000 $245,000 $0 0.00%

    For 2018, State Bank Of The Lakes's most frequently cited loan purpose was Refi, with 30 originations. The 2nd most popular reason was Home Purchase, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 62 $12,770,000 $205,968 $0 0.00%

    For 2018, State Bank Of The Lakes's most frequently cited loan duration was Other, with 62 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 29 $1,785,000 $61,552 $0 0.00%
    $200k-400k 13 $3,385,000 $260,385 $0 0.00%
    $100k-200k 11 $1,555,000 $141,364 $0 0.00%
    $400k-600k 5 $2,625,000 $525,000 $0 0.00%
    $600k-1MM 3 $2,415,000 $805,000 $0 0.00%
    $1MM+ 1 $1,005,000 $1,005,000 $0 0.00%

    2018 saw State Bank Of The Lakes place emphasis on $100,000 or less loans with 29 originations, totaling $1,785,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 7 $895,000 $127,857 $0 0.00%
    $150k-250k 6 $2,230,000 $371,667 $0 0.00%
    $50k or less 5 $355,000 $71,000 $0 0.00%
    $100k-150k 3 $405,000 $135,000 $0 0.00%
    $50k-75k 3 $385,000 $128,333 $0 0.00%
    $250k+ 1 $695,000 $695,000 $0 0.00%

    State Bank Of The Lakes lent most frequently to those with incomes in the $75k-100k range, with 7 originations. The second most popular income band? $150k-250k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 62 $12,770,000 $205,968 $0 0.00%

    State Bank Of The Lakes lent most frequently to those with DTI ratios of Exempt%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 34 $6,720,000 $197,647 $0 0.00%
    Not applicable 27 $6,015,000 $222,778 $0 0.00%
    Not provided 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.02%

    State Bank Of The Lakes has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.58%

    State Bank Of The Lakes has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 62 $12,770,000 $205,968

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $810,000 $405,000
    Multifamily:Site-Built 8 $3,370,000 $421,250
    Single Family (1-4 Units):Site-Built 52 $8,590,000 $165,192

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    STATE FARM BANK, FSB Conventional home mortgage Closing on a mortgage 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Struggling to pay mortgage 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Trouble during payment process 6 50.0%
    STATE FARM BANK, FSB Home equity loan or line of credit (HELOC) Trouble during payment process 2 16.7%
    STATE FARM BANK, FSB Other type of mortgage Trouble during payment process 2 16.7%