Prospect Bank Mortgage Rates, Fees & Info
Paris, ILLEI: 549300QWYPPH283K6R36
Tax ID: 37-0258325
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Mortgage Data
Review & Overview
Prospect Bank is a smaller bank specializing in Home Purchase and Refi loans. Prospect Bank has a high proportion of conventional loans. Their top markets by origination volume include: Terre Haute, Champaign, Indianapolis, Niles, and Louisville among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Prospect 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.
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Originations
102Origination Dollar Volume (All Markets)
$18,360,000Top 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 |
|---|---|---|---|---|---|
| TERRE HAUTE, IN (FHA|USDA|VA) | 21 | $7,085,000 | $337,381 | $0 | 0.00% |
| Outside of Metro Areas | 54 | $6,610,000 | $122,407 | $0 | 0.00% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 13 | $2,275,000 | $175,000 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $0 | 0.00% |
| NILES, MI (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 5 | $275,000 | $55,000 | $0 | 0.00% |
| DANVILLE, IL (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 0.00% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| DECATUR, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Prospect 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 | 102 | $18,360,000 | $180,000 | $0 | 0.00% |
For 2023, Prospect Bank's most frequently originated type of loan was Conventional, with 102 originations.
Loan Reason
For 2023, Prospect Bank's most frequently cited loan purpose was Home Purchase, with 65 originations. The 2nd most popular reason was Refi, with 29 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 102 | $18,360,000 | $180,000 | $0 | 0.00% |
For 2023, Prospect Bank's most frequently cited loan duration was Other, with 102 originations.
Loan Sizing
2023 saw Prospect Bank place emphasis on $100,000 or less loans with 44 originations, totaling $2,370,000 in origination value.
Applicant Income
Prospect Bank lent most frequently to those with incomes in the $50k-75k range, with 26 originations. The second most popular income band? $50k or less, with 19 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 102 | $18,360,000 | $180,000 | $0 | 0.00% |
Prospect Bank lent most frequently to those with DTI ratios of Exempt%, with 102 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.40%
Prospect Bank has an average approval rate.
Pick Rate
Approvals leading to origination84.31%
Prospect Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 102 | $18,360,000 | $180,000 |