Devon Bank Mortgage Rates, Fees & Info
Chicago, ILLEI: 549300UV5JQXLGVWIP44
Tax ID: 36-2030168
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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, Dallas, Houston, Seattle, and Minneapolis among others. We have data for 62 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 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.
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 | 7.04% | 4/5/25 |
| 30 Year Conventional Refi | 6.77% | 4/5/25 |
| 30 Year Cash-out Refi | 7.44% | 4/5/25 |
| 30 Year FHA Purchase | 6.72% | 4/5/25 |
| 15 Year Conventional Purchase | 6.63% | 4/5/25 |
| 15 Year Conventional Refi | 5.88% | 4/5/25 |
| 15 Year Cash-out Refi | 5.88% | 4/5/25 |
| 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
372Origination Dollar Volume (All Markets)
$149,230,000Awards
Devon Bank - 2024
Devon Bank is a 2024 , due to their low .
For 2024, 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
6.87%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.32%.
Relative Fees (Closing Costs)
Devon Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,100.
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 $8,356.
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) | 113 | $37,775,000 | $334,292 | $5,381 | 6.84% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 39 | $16,845,000 | $431,923 | $5,461 | 6.93% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 38 | $14,580,000 | $383,684 | $5,998 | 6.83% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 16 | $10,600,000 | $662,500 | $8,886 | 6.83% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 19 | $8,315,000 | $437,632 | $5,991 | 6.92% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 7 | $3,445,000 | $492,143 | $6,352 | 6.79% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 8 | $3,430,000 | $428,750 | $7,402 | 6.84% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 7 | $3,125,000 | $446,429 | $6,736 | 6.25% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 4 | $3,080,000 | $770,000 | $5,221 | 6.75% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 6 | $2,830,000 | $471,667 | $4,910 | 6.75% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $2,375,000 | $791,667 | $16,636 | 6.83% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 7 | $2,245,000 | $320,714 | $6,093 | 6.98% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 4 | $2,040,000 | $510,000 | $5,672 | 6.56% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3 | $2,035,000 | $678,333 | $9,086 | 6.79% |
| COLUMBUS, OH (FHA|USDA|VA) | 5 | $1,965,000 | $393,000 | $4,663 | 6.95% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 4 | $1,910,000 | $477,500 | $4,397 | 6.91% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 6 | $1,790,000 | $298,333 | $4,456 | 7.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 4 | $1,770,000 | $442,500 | $4,559 | 6.84% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 3 | $1,685,000 | $561,667 | $5,451 | 6.79% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 3 | $1,665,000 | $555,000 | $7,457 | 6.71% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 3 | $1,635,000 | $545,000 | $11,603 | 6.58% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 6 | $1,480,000 | $246,667 | $4,548 | 6.98% |
| MADISON, WI (FHA|USDA|VA) | 4 | $1,370,000 | $342,500 | $5,148 | 6.78% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $1,360,000 | $680,000 | $5,146 | 7.13% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 4 | $1,350,000 | $337,500 | $5,469 | 6.53% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 4 | $1,300,000 | $325,000 | $3,876 | 6.84% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $1,290,000 | $645,000 | $11,374 | 6.56% |
| LOUISVILLE, KY (FHA|USDA|VA) | 2 | $980,000 | $490,000 | $7,065 | 5.56% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $4,935 | 7.21% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 5 | $885,000 | $177,000 | $4,974 | 7.13% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $2,715 | 6.88% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $5,986 | 6.75% |
| Outside of Metro Areas | 1 | $765,000 | $765,000 | $6,157 | 6.50% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $6,910 | 6.50% |
| TULSA, OK (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $6,608 | 6.38% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $3,727 | 6.75% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $5,869 | 6.50% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $8,122 | 6.19% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $6,336 | 7.63% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $5,088 | 7.06% |
| MONROE, MI (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $4,528 | 5.88% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $3,014 | 6.88% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $18,701 | 5.88% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,125 | 7.19% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,903 | 7.13% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,826 | 6.63% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,885 | 6.88% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,212 | 6.88% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,532 | 6.88% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $7,213 | 5.63% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,899 | 6.50% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $6,950 | 6.38% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,977 | 6.88% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,010 | 6.63% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,766 | 7.63% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,060 | 6.63% |
| Beaver Dam, WI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $10,212 | 6.00% |
| Durant, OK (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 8.13% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 7.50% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,029 | 6.63% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 7.63% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,129 | 6.63% |
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 | 372 | $149,230,000 | $401,156 | $5,898 | 6.83% |
For 2024, Devon Bank's most frequently originated type of loan was Conventional, with 372 originations.
Loan Reason
For 2024, Devon Bank's most frequently cited loan purpose was Home Purchase, with 343 originations. The 2nd most popular reason was Refi, with 22 originations.
Loan Duration/Length
For 2024, Devon Bank's most frequently cited loan duration was 30 Year, with 305 originations. The 2nd most popular length was 15 Year, with 42 originations.
Origination Fees/Closing Costs
Devon Bank's average total fees were $6,100, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 181 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 234 | $94,890,000 | $405,513 |
| 7-8% | 106 | $41,870,000 | $395,000 |
| 5-6% | 27 | $10,855,000 | $402,037 |
| Over 8% | 4 | $1,290,000 | $322,500 |
| 4-5% | 1 | $325,000 | $325,000 |
During 2024, Devon Bank's average interest rate for loans was 6.87%, while their most frequently originated rate bucket for loans was 6-7%, with 234 originations.
Loan Sizing
2024 saw Devon Bank place emphasis on $200k-400k loans with 164 originations, totaling $49,530,000 in origination value.
Applicant Income
Devon Bank lent most frequently to those with incomes in the $100k-150k range, with 101 originations. The second most popular income band? $150k-250k, with 98 originations.
Applicant Debt to Income Ratio
Devon Bank lent most frequently to those with DTI ratios of 30-36%, with 54 originations. The next most common DTI ratio? 20-30%, with 52 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.92%
Devon Bank has an average approval rate.
Pick Rate
Approvals leading to origination41.94%
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 | 372 | $149,230,000 | $401,156 |