Busey Bank Mortgage Rates, Fees & Info
Champaign, ILLEI: 549300O7SGM8FH65GQ47
Tax ID: 37-0613731
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Mortgage Data
Review & Overview
Busey Bank is a smaller bank specializing in Home Purchase and Refi loans. Busey Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Chicago, Champaign, St. Louis, Bloomington, and Bloomington among others. We have data for 86 markets. (Some data included below & more in-depth data is available with an active subscription.)Busey Bank 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. Busey 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 about average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.24% | 5/5/24 |
| 30 Year Conventional Purchase | 6.48% | 5/5/24 |
| 30 Year Conventional Refi | 6.48% | 5/5/24 |
| 30 Year Cash-out Refi | 6.38% | 5/5/24 |
| 30 Year FHA Purchase | 7.41% | 5/5/24 |
| 30 Year FHA Refi | 6.84% | 5/5/24 |
| 30 Year VA Purchase | 6.37% | 5/5/24 |
| 30 Year USDA Purchase | 6.95% | 5/5/24 |
| 15 Year Conventional Purchase | 5.58% | 5/5/24 |
| 15 Year Conventional Refi | 5.82% | 5/5/24 |
| 15 Year Cash-out Refi | 5.82% | 5/5/24 |
| 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. | ||
Busey Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
3,060Origination Dollar Volume (All Markets)
$980,050,000Awards
Busey Bank - 2022
Busey Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 609 | $235,455,000 | $386,626 | $3,907 | 4.75% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 671 | $217,065,000 | $323,495 | $2,081 | 4.51% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 701 | $139,545,000 | $199,066 | $2,257 | 4.60% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 5 | $78,415,000 | $15,683,000 | $0 | 4.08% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 191 | $62,445,000 | $326,937 | $1,807 | 4.37% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 102 | $38,000,000 | $372,549 | $4,775 | 4.20% |
| PEORIA, IL (FHA|USDA|VA) | 246 | $30,620,000 | $124,472 | $2,048 | 4.53% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $26,835,000 | $26,835,000 | $0 | 5.45% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 105 | $25,745,000 | $245,190 | $2,329 | 4.31% |
| DECATUR, IL (FHA|USDA|VA) | 126 | $13,570,000 | $107,698 | $2,913 | 4.37% |
| Outside of Metro Areas | 83 | $13,125,000 | $158,133 | $2,412 | 4.70% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 14 | $12,120,000 | $865,714 | $6,801 | 3.56% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $11,275,000 | $11,275,000 | $0 | 4.04% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 26 | $7,740,000 | $297,692 | $4,378 | 4.18% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 3 | $5,375,000 | $1,791,667 | $0 | 3.43% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 19 | $5,055,000 | $266,053 | $4,355 | 4.30% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 9 | $3,975,000 | $441,667 | $4,478 | 4.65% |
| DANVILLE, IL (FHA|USDA|VA) | 13 | $3,615,000 | $278,077 | $2,612 | 4.16% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $3,530,000 | $588,333 | $6,640 | 4.35% |
| MUNCIE, IN (FHA|USDA|VA) | 1 | $3,115,000 | $3,115,000 | $0 | 3.50% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $2,725,000 | $2,725,000 | $3,623 | 4.75% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 5 | $2,095,000 | $419,000 | $2,794 | 3.91% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $1,990,000 | $995,000 | $5,889 | 3.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $1,950,000 | $325,000 | $4,580 | 4.98% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $1,910,000 | $955,000 | $4,581 | 3.13% |
| Branson, MO (FHA|USDA|VA) | 1 | $1,725,000 | $1,725,000 | $0 | 3.50% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 2 | $1,610,000 | $805,000 | $4,067 | 3.50% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 3 | $1,515,000 | $505,000 | $5,157 | 4.63% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $1,290,000 | $645,000 | $0 | 4.87% |
| Pontiac, IL (FHA|USDA|VA) | 15 | $1,135,000 | $75,667 | $2,092 | 4.63% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 8 | $1,110,000 | $138,750 | $2,315 | 4.64% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $1,105,000 | $1,105,000 | $4,102 | 3.75% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $1,065,000 | $1,065,000 | $12,062 | 3.88% |
| Holland, MI (FHA|USDA|VA) | 1 | $1,045,000 | $1,045,000 | $4,061 | 2.99% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $1,025,000 | $341,667 | $4,448 | 3.29% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 8 | $1,020,000 | $127,500 | $2,238 | 4.89% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $985,000 | $985,000 | $2,933 | 2.75% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $865,000 | $865,000 | $0 | 6.75% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $5,469 | 3.13% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $835,000 | $835,000 | $7,149 | 6.25% |
| NILES, MI (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $3,629 | 4.50% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $3,940 | 4.88% |
| Clewiston, FL (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $7,168 | 4.06% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $4,446 | 3.88% |
| MADISON, WI (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $4,479 | 2.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $5,048 | 4.50% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $6,332 | 4.50% |
| Ottawa, IL (FHA|USDA|VA) | 6 | $570,000 | $95,000 | $3,449 | 4.90% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $2,630 | 3.88% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $3,004 | 3.75% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $3,379 | 4.50% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $3,345 | 2.62% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $3,486 | 4.88% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,801 | 6.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $1,105 | 4.96% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $1,766 | 3.75% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,349 | 4.88% |
| OCALA, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $2,443 | 3.88% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,179 | 2.25% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,447 | 2.63% |
| Laramie, WY (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,688 | 4.88% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,232 | 5.13% |
| Dixon, IL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,134 | 5.88% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,533 | 3.44% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,814 | 4.50% |
| Taylorville, IL (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $2,355 | 3.25% |
| ROCKFORD, IL (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $2,294 | 5.19% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,241 | 4.75% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,086 | 2.99% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,638 | 3.50% |
| CLEVELAND, TN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,501 | 4.88% |
| Sturgis, MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 3.75% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 3.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 4.38% |
| KANKAKEE, IL (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $1,495 | 6.54% |
| Effingham, IL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,244 | 2.25% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,483 | 6.00% |
| Lincoln, IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,806 | 5.00% |
| AKRON, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,911 | 5.50% |
| JONESBORO, AR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,607 | 6.63% |
| COLUMBUS, IN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,360 | 3.75% |
| Quincy, IL-MO (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 5.50% |
| Macomb, IL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,853 | 6.13% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,135 | 5.50% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 7.00% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $250 | 5.99% |
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Product Mix
For 2022, Busey Bank's most frequently originated type of loan was Conventional, with 2,039 originations. Their 2nd most popular type was HELOC, with 932 originations.
Loan Reason
For 2022, Busey Bank's most frequently cited loan purpose was Home Purchase, with 1,204 originations. The 2nd most popular reason was Refi, with 841 originations.
Loan Duration/Length
For 2022, Busey Bank's most frequently cited loan duration was 30 Year, with 1,189 originations. The 2nd most popular length was 20 Year, with 906 originations.
Origination Fees/Closing Costs
Busey Bank's average total fees were $2,962, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,514 originations.
Interest Rates
During 2022, Busey Bank's average interest rate for loans was 4.64%, while their most frequently originated rate bucket for loans was 4-5%, with 789 originations.
Loan Sizing
2022 saw Busey Bank place emphasis on $100,000 or less loans with 1,016 originations, totaling $53,810,000 in origination value.
Applicant Income
Busey Bank lent most frequently to those with incomes in the $50k-75k range, with 582 originations. The second most popular income band? $100k-150k, with 512 originations.
Applicant Debt to Income Ratio
Busey Bank lent most frequently to those with DTI ratios of 20-30%, with 759 originations. The next most common DTI ratio? 30-36%, with 580 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.02%
Busey Bank has an average approval rate.
Pick Rate
Approvals leading to origination86.41%
Busey Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,060 | $980,050,000 | $320,278 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BOK FINANCIAL CORP | VA mortgage | Trouble during payment process | 1 | 100.0% |