State Bank Of The Lakes Mortgage Rates, Fees & Info
Rosemont, ILLEI: 549300KX2KT8MOAS5Q71
Tax ID: 36-1818210
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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, Whitewater, and Milwaukee among others. We have data for 4 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
61Origination Dollar Volume (All Markets)
$16,685,000Top 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) | 57 | $16,345,000 | $286,754 | $0 | 0.00% |
| RACINE, WI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Whitewater, WI (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 0.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 61 | $16,685,000 | $273,525 | $0 | 0.00% |
For 2019, State Bank Of The Lakes's most frequently originated type of loan was Conventional, with 61 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 33 | $10,905,000 | $330,455 | $0 | 0.00% |
| Home Purchase | 24 | $5,490,000 | $228,750 | $0 | 0.00% |
| Home Improvement | 4 | $290,000 | $72,500 | $0 | 0.00% |
For 2019, State Bank Of The Lakes's most frequently cited loan purpose was Refi, with 33 originations. The 2nd most popular reason was Home Purchase, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 61 | $16,685,000 | $273,525 | $0 | 0.00% |
For 2019, State Bank Of The Lakes's most frequently cited loan duration was Other, with 61 originations.
Loan Sizing
2019 saw State Bank Of The Lakes place emphasis on $100,000 or less loans with 26 originations, totaling $1,660,000 in origination value.
Applicant Income
State Bank Of The Lakes lent most frequently to those with incomes in the $50k or less range, with 6 originations. The second most popular income band? $75k-100k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 61 | $16,685,000 | $273,525 | $0 | 0.00% |
State Bank Of The Lakes lent most frequently to those with DTI ratios of Exempt%, with 61 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.24%
State Bank Of The Lakes has an average approval rate.
Pick Rate
Approvals leading to origination78.69%
State Bank Of The Lakes has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 61 | $16,685,000 | $273,525 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 17 | $8,845,000 | $520,294 |
| Single Family (1-4 Units):Site-Built | 44 | $7,840,000 | $178,182 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| STATE FARM BANK, FSB | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 16.7% |
| STATE FARM BANK, FSB | Conventional home mortgage | Problem with a credit reporting company's investigation into an existing problem | 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 | 5 | 41.7% |
| STATE FARM BANK, FSB | Home equity loan or line of credit (HELOC) | Trouble during payment process | 2 | 16.7% |
| STATE FARM BANK, FSB | VA mortgage | Trouble during payment process | 1 | 8.3% |