Banterra Bank Mortgage Rates, Fees & Info
Marion, ILLEI: 549300NGCDNC9174EF79
Tax ID: 37-0723369
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Mortgage Data
Review & Overview
Banterra Bank is a smaller bank specializing in Home Purchase and Refi loans. Banterra Bank has a high proportion of conventional loans. Their top markets by origination volume include: Bowling Green, Phoenix, Cape Girardeau, Carbondale, and Nashville among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)Banterra Bank 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. Banterra 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.12% | 12/3/24 |
| 30 Year Conventional Refi | 7.21% | 12/3/24 |
| 30 Year Cash-out Refi | 6.84% | 12/3/24 |
| 30 Year FHA Purchase | 6.27% | 12/3/24 |
| 30 Year USDA Purchase | 6.97% | 12/3/24 |
| 30 Year USDA Refi | 6.27% | 12/3/24 |
| 15 Year Conventional Purchase | 6.49% | 12/3/24 |
| 15 Year Conventional Refi | 5.88% | 12/3/24 |
| 15 Year Cash-out Refi | 5.88% | 12/3/24 |
| 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. | ||
Banterra Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Banterra Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
185Origination Dollar Volume (All Markets)
$58,045,000Awards
Banterra Bank - 2023
Banterra Bank is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Banterra Bank's average 30 year fixed mortgage rate was
6.85%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.37%.
Relative Fees (Closing Costs)
Banterra Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,796.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| BOWLING GREEN, KY (FHA|USDA|VA) | 1 | $11,025,000 | $11,025,000 | $0 | 5.97% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 5 | $8,385,000 | $1,677,000 | $4,573 | 6.94% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 25 | $6,435,000 | $257,400 | $2,504 | 7.15% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 41 | $6,085,000 | $148,415 | $2,425 | 7.23% |
| Outside of Metro Areas | 53 | $5,625,000 | $106,132 | $2,169 | 7.36% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $5,405,000 | $5,405,000 | $0 | 6.15% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 27 | $4,895,000 | $181,296 | $1,881 | 7.28% |
| Heber, UT (FHA|USDA|VA) | 2 | $3,140,000 | $1,570,000 | $0 | 8.75% |
| Paducah, KY-IL (FHA|USDA|VA) | 10 | $1,860,000 | $186,000 | $2,354 | 7.00% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $0 | 7.95% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $0 | 6.25% |
| Mount Vernon, IL (FHA|USDA|VA) | 6 | $630,000 | $105,000 | $2,658 | 6.58% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $5,146 | 6.50% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $5,033 | 7.63% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,673 | 6.50% |
| Edwards, CO (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 6.25% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,686 | 6.79% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,525 | 7.63% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,101 | 6.63% |
| Mayfield, KY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,707 | 7.61% |
| Sikeston, MO (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $2,707 | 7.13% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 8.00% |
| Vincennes, IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 7.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Banterra 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 | 185 | $58,045,000 | $313,757 | $2,422 | 7.22% |
For 2023, Banterra Bank's most frequently originated type of loan was Conventional, with 185 originations.
Loan Reason
For 2023, Banterra Bank's most frequently cited loan purpose was Home Purchase, with 128 originations. The 2nd most popular reason was Refi, with 23 originations.
Loan Duration/Length
For 2023, Banterra Bank's most frequently cited loan duration was 30 Year, with 91 originations. The 2nd most popular length was 5 Year, with 42 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 111 | $20,935,000 | $188,604 |
| $1k-2k | 15 | $1,885,000 | $125,667 |
| $2k-3k | 6 | $810,000 | $135,000 |
Banterra Bank's average total fees were $2,796, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 111 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 84 | $22,400,000 | $266,667 |
| 7-8% | 57 | $10,645,000 | $186,754 |
| Over 8% | 33 | $6,485,000 | $196,515 |
| 5-6% | 10 | $18,010,000 | $1,801,000 |
| 4-5% | 1 | $505,000 | $505,000 |
During 2023, Banterra Bank's average interest rate for loans was 6.85%, while their most frequently originated rate bucket for loans was 6-7%, with 84 originations.
Loan Sizing
2023 saw Banterra Bank place emphasis on $100,000 or less loans with 72 originations, totaling $3,910,000 in origination value.
Applicant Income
Banterra Bank lent most frequently to those with incomes in the $100k-150k range, with 31 originations. The second most popular income band? $50k-75k, with 29 originations.
Applicant Debt to Income Ratio
Banterra Bank lent most frequently to those with DTI ratios of 20-30%, with 35 originations. The next most common DTI ratio? 30-36%, with 25 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.99%
Banterra Bank has a below average approval rate.
Pick Rate
Approvals leading to origination58.38%
Banterra Bank 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 | 185 | $58,045,000 | $313,757 |