Vermilion Valley Bank Mortgage Rates, Fees & Info
Piper City, ILLEI: 549300U8Y61UKDC5ZF50
Tax ID: 37-0532910
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Mortgage Data
Review & Overview
Vermilion Valley Bank is a smaller bank specializing in Cash Out Refi and Home Purchase loans. Vermilion Valley Bank has a high proportion of conventional loans.Vermilion Valley Bank has an above average approval rate when compared to the average across all lenders.
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Originations
47Origination Dollar Volume (All Markets)
$5,415,000Top Markets
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| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Outside of Metro Areas | 47 | $5,415,000 | $115,213 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 47 | $5,415,000 | $115,213 | $0 | 0.00% |
For 2024, Vermilion Valley Bank's most frequently originated type of loan was Conventional, with 47 originations.
Loan Reason
For 2024, Vermilion Valley Bank's most frequently cited loan purpose was Cash Out Refi, with 23 originations. The 2nd most popular reason was Home Purchase, with 20 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 47 | $5,415,000 | $115,213 | $0 | 0.00% |
For 2024, Vermilion Valley Bank's most frequently cited loan duration was Other, with 47 originations.
Loan Sizing
2024 saw Vermilion Valley Bank place emphasis on $100,000 or less loans with 27 originations, totaling $1,375,000 in origination value.
Applicant Income
Vermilion Valley Bank lent most frequently to those with incomes in the $50k or less range, with 13 originations. The second most popular income band? $100k-150k, with 10 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 42 | $4,850,000 | $115,476 | $0 | 0.00% |
| Not provided | 4 | $410,000 | $102,500 | $0 | 0.00% |
| Asian | 1 | $155,000 | $155,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.92%
Vermilion Valley Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 47 | $5,415,000 | $115,213 |