Devon Bank Mortgage Rates, Fees & Info
Chicago, ILLEI: 549300UV5JQXLGVWIP44
Tax ID: 36-2030168
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Devon Bank is a smaller bank specializing in Home Purchase loans. Devon Bank has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Minneapolis, Dallas, Seattle, and Los Angeles among others. We have data for 73 markets. (Some data included below & more in-depth data is available with an active subscription.)Devon 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. Devon Bank is typically an average 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 | 6.90% | 12/4/23 |
| 30 Year Conventional Refi | 6.60% | 12/4/23 |
| 30 Year Cash-out Refi | 6.92% | 12/4/23 |
| 30 Year FHA Purchase | 6.27% | 12/4/23 |
| 15 Year Conventional Purchase | 6.75% | 12/4/23 |
| 15 Year Conventional Refi | 5.92% | 12/4/23 |
| 15 Year Cash-out Refi | 5.92% | 12/4/23 |
| 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. | ||
Devon Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
550Origination Dollar Volume (All Markets)
$222,770,000Awards
Devon Bank - 2022
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For 2022, less than of lenders were eligible for this award.
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Relative Rate
Devon Bank's average 30 year fixed mortgage rate was
5.33%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.57%.
Relative Fees (Closing Costs)
Devon Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,626.
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 $4,750.
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) | 107 | $38,305,000 | $357,991 | $5,470 | 5.12% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 79 | $31,325,000 | $396,519 | $6,790 | 5.58% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 56 | $24,100,000 | $430,357 | $7,129 | 5.06% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 32 | $19,710,000 | $615,938 | $10,744 | 5.33% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 22 | $14,850,000 | $675,000 | $6,971 | 4.88% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 35 | $11,775,000 | $336,429 | $5,353 | 5.05% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 12 | $7,360,000 | $613,333 | $6,944 | 4.89% |
| COLUMBUS, OH (FHA|USDA|VA) | 14 | $4,720,000 | $337,143 | $5,218 | 5.81% |
| STOCKTON, CA (FHA|USDA|VA) | 8 | $4,110,000 | $513,750 | $5,751 | 5.14% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 6 | $4,080,000 | $680,000 | $4,966 | 4.63% |
| LOUISVILLE, KY (FHA|USDA|VA) | 14 | $3,860,000 | $275,714 | $4,924 | 5.79% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 10 | $3,770,000 | $377,000 | $6,366 | 4.39% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 7 | $3,125,000 | $446,429 | $6,063 | 4.36% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 7 | $3,005,000 | $429,286 | $6,015 | 4.96% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 9 | $2,365,000 | $262,778 | $4,414 | 5.19% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 8 | $2,250,000 | $281,250 | $3,790 | 5.69% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $2,230,000 | $557,500 | $5,389 | 4.06% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 5 | $2,155,000 | $431,000 | $8,151 | 5.38% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 7 | $1,965,000 | $280,714 | $4,652 | 5.13% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 4 | $1,930,000 | $482,500 | $5,376 | 5.28% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 6 | $1,840,000 | $306,667 | $8,276 | 5.83% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 4 | $1,730,000 | $432,500 | $7,478 | 4.72% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $1,715,000 | $571,667 | $4,475 | 5.96% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 4 | $1,570,000 | $392,500 | $5,415 | 4.88% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 4 | $1,540,000 | $385,000 | $5,433 | 4.84% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 6 | $1,510,000 | $251,667 | $4,946 | 5.48% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 5 | $1,395,000 | $279,000 | $3,570 | 4.83% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 4 | $1,390,000 | $347,500 | $6,962 | 4.28% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $5,634 | 5.71% |
| TUCSON, AZ (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $6,291 | 4.75% |
| MADISON, WI (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $3,899 | 5.25% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $4,994 | 6.19% |
| ANN ARBOR, MI (FHA|USDA|VA) | 3 | $975,000 | $325,000 | $4,673 | 5.96% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $3,027 | 3.06% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 3 | $895,000 | $298,333 | $4,184 | 5.67% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $3,229 | 4.17% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $4,017 | 5.00% |
| BATON ROUGE, LA (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $4,831 | 4.63% |
| WENATCHEE, WA (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $2,863 | 6.75% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $15,534 | 4.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $0 | 7.50% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $6,185 | 2.50% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $16,002 | 3.38% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $3,170 | 5.25% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $3,406 | 4.75% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $5,020 | 5.44% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $5,202 | 4.25% |
| GRAND ISLAND, NE (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $3,208 | 4.19% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $5,145 | 5.00% |
| TULSA, OK (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $6,981 | 5.50% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,717 | 4.25% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $4,704 | 6.75% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $6,788 | 3.25% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,934 | 3.75% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,305 | 5.50% |
| TYLER, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,054 | 5.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,165 | 5.00% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,512 | 4.63% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $6,797 | 5.31% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,526 | 5.88% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $5,725 | 5.88% |
| APPLETON, WI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $8,846 | 5.38% |
| LINCOLN, NE (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,984 | 3.50% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,513 | 6.00% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,495 | 3.13% |
| FARGO, ND-MN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,280 | 7.00% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,797 | 5.25% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,316 | 7.25% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,085 | 5.50% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,243 | 3.88% |
| DECATUR, IL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,220 | 4.50% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,016 | 5.25% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,413 | 5.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against Devon 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 | 550 | $222,770,000 | $405,036 | $6,220 | 5.19% |
For 2022, Devon Bank's most frequently originated type of loan was Conventional, with 550 originations.
Loan Reason
For 2022, Devon Bank's most frequently cited loan purpose was Home Purchase, with 484 originations. The 2nd most popular reason was Refi, with 39 originations.
Loan Duration/Length
For 2022, Devon Bank's most frequently cited loan duration was 30 Year, with 438 originations. The 2nd most popular length was 15 Year, with 75 originations.
Origination Fees/Closing Costs
Devon Bank's average total fees were $6,626, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 210 originations.
Interest Rates
During 2022, Devon Bank's average interest rate for loans was 5.33%, while their most frequently originated rate bucket for loans was 5-6%, with 161 originations.
Loan Sizing
2022 saw Devon Bank place emphasis on $200k-400k loans with 223 originations, totaling $68,765,000 in origination value.
Applicant Income
Devon Bank lent most frequently to those with incomes in the $100k-150k range, with 170 originations. The second most popular income band? $150k-250k, with 95 originations.
Applicant Debt to Income Ratio
Devon Bank lent most frequently to those with DTI ratios of 30-36%, with 98 originations. The next most common DTI ratio? 20-30%, with 76 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.78%
Devon Bank has an average approval rate.
Pick Rate
Approvals leading to origination44.36%
Devon 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 | 550 | $222,770,000 | $405,036 |