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, 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

61

Origination Dollar Volume (All Markets)

$16,685,000

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) 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%
State Bank Of The Lakes's top markets include Chicago, Racine, Whitewater, and Milwaukee among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • 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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 26 $1,660,000 $63,846 $0 0.00%
    $100k-200k 12 $1,670,000 $139,167 $0 0.00%
    $400k-600k 8 $3,770,000 $471,250 $0 0.00%
    $200k-400k 7 $2,135,000 $305,000 $0 0.00%
    $600k-1MM 5 $3,945,000 $789,000 $0 0.00%
    $1MM+ 3 $3,505,000 $1,168,333 $0 0.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 6 $530,000 $88,333 $0 0.00%
    $75k-100k 5 $285,000 $57,000 $0 0.00%
    $150k-250k 4 $1,270,000 $317,500 $0 0.00%
    $250k+ 3 $1,135,000 $378,333 $0 0.00%
    $100k-150k 2 $200,000 $100,000 $0 0.00%
    $50k-75k 2 $420,000 $210,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 32 $10,490,000 $327,813 $0 0.00%
    White 28 $5,920,000 $211,429 $0 0.00%
    Not provided 1 $275,000 $275,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.24%

    State Bank Of The Lakes has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.69%

    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%