1786 Mortgage Rates, Fees & Info
OGDEN, ILLEI: 549300POCKENHFN8BN88
Tax ID: 37-0391060
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Mortgage Data
Review & Overview
1786 is a smaller mortgage company specializing in Home Purchase and Refi loans. 1786 has a high proportion of conventional loans. Their top markets by origination volume include: Champaign, Danville, Terre Haute, Charleston, and Lafayette among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)1786 has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. 1786 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.
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Originations
316Origination Dollar Volume (All Markets)
$39,320,000Awards
1786 - 2023
1786 is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
1786's average 30 year fixed mortgage rate was
6.74%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.26%.
Relative Fees (Closing Costs)
1786's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,838.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 153 | $14,645,000 | $95,719 | $2,792 | 7.29% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 62 | $12,970,000 | $209,194 | $1,997 | 7.39% |
| DANVILLE, IL (FHA|USDA|VA) | 64 | $6,450,000 | $100,781 | $1,658 | 7.02% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 12 | $1,830,000 | $152,500 | $3,309 | 6.92% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 15 | $1,245,000 | $83,000 | $2,069 | 7.14% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $1,785 | 7.13% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $2,580 | 6.60% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $4,608 | 6.50% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,993 | 7.13% |
| OWENSBORO, KY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $6,947 | 6.50% |
| Crawfordsville, IN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,441 | 6.75% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $5,010 | 6.75% |
| DECATUR, IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,891 | 6.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against 1786 based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 26
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 306 | $37,180,000 | $121,503 | $2,478 | 7.19% |
| HELOC | 10 | $2,140,000 | $214,000 | n/a | 7.95% |
For 2023, 1786's most frequently originated type of loan was Conventional, with 306 originations. Their 2nd most popular type was HELOC, with 10 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 172 | $23,250,000 | $135,174 | $2,944 | 7.12% |
| Refi | 144 | $16,070,000 | $111,597 | $2,001 | 7.34% |
For 2023, 1786's most frequently cited loan purpose was Home Purchase, with 172 originations. The 2nd most popular reason was Refi, with 144 originations.
Loan Duration/Length
For 2023, 1786's most frequently cited loan duration was 30 Year, with 127 originations. The 2nd most popular length was Other, with 70 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 183 | $20,255,000 | $110,683 |
| $1k-2k | 1 | $85,000 | $85,000 |
1786's average total fees were $2,838, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 183 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 147 | $18,965,000 | $129,014 |
| 7-8% | 115 | $14,665,000 | $127,522 |
| Over 8% | 39 | $4,265,000 | $109,359 |
| 5-6% | 14 | $1,380,000 | $98,571 |
During 2023, 1786's average interest rate for loans was 6.74%, while their most frequently originated rate bucket for loans was 6-7%, with 147 originations.
Loan Sizing
2023 saw 1786 place emphasis on $100,000 or less loans with 182 originations, totaling $9,250,000 in origination value.
Applicant Income
1786 lent most frequently to those with incomes in the $50k-75k range, with 66 originations. The second most popular income band? $50k or less, with 47 originations.
Applicant Debt to Income Ratio
1786 lent most frequently to those with DTI ratios of 20-30%, with 49 originations. The next most common DTI ratio? <20%, with 39 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.69%
1786 has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination96.84%
1786 has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2458.0 | 1 | $15,000 | $15,000 |
| NA | 315 | $39,305,000 | $124,778 |