Devon Bank Mortgage Rates, Fees & Info

Chicago, IL

LEI: 549300UV5JQXLGVWIP44

Tax ID: 36-2030168

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Mortgage Data

Bank Data

Review & Overview

Devon Bank is a smaller bank specializing in Home Purchase and Refi loans. Devon Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Chicago, Los Angeles, Seattle, Minneapolis, and San Francisco among others. We have data for 57 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.

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% 3/24/24
30 Year Conventional Refi 6.60% 3/24/24
30 Year Cash-out Refi 6.92% 3/24/24
30 Year FHA Purchase 6.27% 3/24/24
15 Year Conventional Purchase 6.75% 3/24/24
15 Year Conventional Refi 5.92% 3/24/24
15 Year Cash-out Refi 5.92% 3/24/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Devon Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

384

Origination Dollar Volume (All Markets)

$122,120,000

Employee count

100

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 $28,245,000 $263,972 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 32 $16,510,000 $515,938 $0 0.00%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 23 $10,565,000 $459,348 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 29 $7,775,000 $268,103 $0 0.00%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 13 $6,935,000 $533,462 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 24 $6,850,000 $285,417 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 18 $3,900,000 $216,667 $0 0.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 9 $3,505,000 $389,444 $0 0.00%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 5 $3,165,000 $633,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 6 $2,640,000 $440,000 $0 0.00%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 10 $2,410,000 $241,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 8 $2,360,000 $295,000 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 7 $2,175,000 $310,714 $0 0.00%
STOCKTON, CA (FHA|USDA|VA) 7 $1,955,000 $279,286 $0 0.00%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 3 $1,635,000 $545,000 $0 0.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 7 $1,605,000 $229,286 $0 0.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 4 $1,320,000 $330,000 $0 0.00%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 6 $1,300,000 $216,667 $0 0.00%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $1,160,000 $580,000 $0 0.00%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 4 $1,040,000 $260,000 $0 0.00%
OKLAHOMA CITY, OK (FHA|USDA|VA) 4 $1,020,000 $255,000 $0 0.00%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 3 $945,000 $315,000 $0 0.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $820,000 $205,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $795,000 $265,000 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $770,000 $192,500 $0 0.00%
TUCSON, AZ (FHA|USDA|VA) 2 $670,000 $335,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $630,000 $315,000 $0 0.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $560,000 $280,000 $0 0.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 3 $555,000 $185,000 $0 0.00%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 3 $545,000 $181,667 $0 0.00%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $530,000 $265,000 $0 0.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
SIOUX FALLS, SD (FHA|USDA|VA) 2 $490,000 $245,000 $0 0.00%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
TULSA, OK (FHA|USDA|VA) 2 $450,000 $225,000 $0 0.00%
COLUMBUS, OH (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
PROVO-OREM, UT (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
BELLINGHAM, WA (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
SAVANNAH, GA (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
SPRINGFIELD, IL (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
MADISON, WI (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
ANN ARBOR, MI (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Stevens Point, WI (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
LOUISVILLE, KY (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
AKRON, OH (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Willmar, MN (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
ROCKFORD, IL (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Devon Bank's top markets include Chicago, Los Angeles, Seattle, Minneapolis, and San Francisco among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • 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 383 $121,545,000 $317,350 $0 0.00%
    FHA 1 $575,000 $575,000 $0 0.00%

    For 2019, Devon Bank's most frequently originated type of loan was Conventional, with 383 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 272 $85,870,000 $315,699 $0 0.00%
    Refi 111 $35,845,000 $322,928 $0 0.00%
    Home Improvement 1 $405,000 $405,000 $0 0.00%

    For 2019, Devon Bank's most frequently cited loan purpose was Home Purchase, with 272 originations. The 2nd most popular reason was Refi, with 111 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 384 $122,120,000 $318,021 $0 0.00%

    For 2019, Devon Bank's most frequently cited loan duration was Other, with 384 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 168 $47,580,000 $283,214 $0 0.00%
    $100k-200k 93 $14,315,000 $153,925 $0 0.00%
    $400k-600k 76 $36,210,000 $476,447 $0 0.00%
    $600k-1MM 31 $21,665,000 $698,871 $0 0.00%
    $100,000 or less 15 $1,095,000 $73,000 $0 0.00%
    $1MM+ 1 $1,255,000 $1,255,000 $0 0.00%

    2019 saw Devon Bank place emphasis on $200k-400k loans with 168 originations, totaling $47,580,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 108 $33,940,000 $314,259 $0 0.00%
    $150k-250k 66 $26,300,000 $398,485 $0 0.00%
    $75k-100k 65 $20,535,000 $315,923 $0 0.00%
    $250k+ 59 $23,155,000 $392,458 $0 0.00%
    $50k-75k 56 $13,100,000 $233,929 $0 0.00%
    $50k or less 28 $4,200,000 $150,000 $0 0.00%

    Devon Bank lent most frequently to those with incomes in the $100k-150k range, with 108 originations. The second most popular income band? $150k-250k, with 66 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 384 $122,120,000 $318,021 $0 0.00%

    Devon Bank lent most frequently to those with DTI ratios of Exempt%, with 384 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 143 $47,255,000 $330,455 $0 0.00%
    White 82 $24,540,000 $299,268 $0 0.00%
    Not provided 75 $21,995,000 $293,267 $0 0.00%
    Black 50 $15,650,000 $313,000 $0 0.00%
    Asian Indian 21 $6,815,000 $324,524 $0 0.00%
    Other Asian 11 $4,975,000 $452,273 $0 0.00%
    Not applicable 2 $890,000 $445,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.09%

    Devon Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.56%

    Devon Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 384 $122,120,000 $318,021

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 384 $122,120,000 $318,021

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Devon Bank 2960 N. Lakeshore Dr. Chicago, IL 60657 Limited, Mobile/Seasonal Office $2,628
    Devon Bank 3121 North Sheridan Road Chicago, IL 60657 Limited, Mobile/Seasonal Office $558
    Devon Bank 4501 Concord Lane Northbrook, IL 60062 Limited, Mobile/Seasonal Office $1,053
    Devon Bank 561 North Milwaukee Avenue Wheeling, IL 60090 Full Service B&M $56,035
    Devon Bank 6445 North Western Avenue Chicago, IL 60645 Full Service B&M $146,444
    Devon Bank 800s River Road Des Plaines, IL 60016 Limited, Mobile/Seasonal Office $608
    Devon Bank 8975 Golf Road Niles, IL 60714 Limited, Mobile/Seasonal Office $1,082
    Devon Bank 950 Milwaukee Avenue Glenview, IL 60025 Full Service B&M $48,647

    For 2019, Devon Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,084
    Net interest income $10,204
    Total noninterest income $5,960
    Gross Fiduciary activities income $1,479
    Service charges on deposit accounts $350
    Trading account gains and fees $0
    Additional Noninterest Income $4,131
    Pre-tax net operating income $1,454
    Securities gains (or losses, -) $177
    Income before extraordinary items $1,423
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,423
    Minority interest net income $0
    Net income $1,423
    Sale, conversion, retirement of capital stock, net $-181
    Net operating income $1,269

    Devon Bank's gross interest income from loans was $12,084,000.
    Devon Bank's net interest income from loans was $10,204,000.
    Devon Bank's fee based income from loans was $350,000.
    Devon Bank's net income from loans was $1,423,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,880
    Provision for credit losses $0
    Total noninterest expense $14,710
    Salaries and employee benefits $9,477
    Premises and equipment expense $1,518
    Additional noninterest expense $3,715
    Applicable income taxes $208
    Net charge-offs $369
    Cash dividends $160

    Devon Bank's interest expense for loans was $1,880,000.
    Devon Bank's payroll and benefits expense were $9,477,000.
    Devon Bank's property, plant and equipment expenses $1,518,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 1.0%
    All other family 0.0%
    Commercial & industrial loans 2.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $262,263
    Deposits held in domestic offices $262,263
    Deposits by Individuals, partnerships, and corporations $262,002
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $260
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $124,513
    Demand deposits $107,230
    Nontransaction accounts $137,749
    Money market deposit accounts (MMDAs) $47,302
    Other savings deposits (excluding MMDAs) $31,804
    Total time deposits $58,642
    Total time and savings deposits $155,032
    Noninterest-bearing deposits $105,519
    Interest-bearing deposits $156,744
    Retail deposits $246,622
    IRAs and Keogh plan accounts $10,888
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $291,029
    Cash & Balances due from depository institutions $11,486
    Interest-bearing balances $8,109
    Total securities $46,896
    Federal funds sold & reverse repurchase $0
    Net loans and leases $207,677
    Loan and leases loss allowance $3,453
    Trading account assets $0
    Bank premises and fixed assets $7,904
    Other real estate owned $224
    Goodwill and other intangibles $1,643
    All other assets $15,199

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $291,029
    Total Liabilities $264,082
    Total deposits $262,263
    Interest-bearing deposits $156,744
    Deposits held in domestic offices $262,263
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,819

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $207,677
    Loan and leases loss allowance $3,453
    Total loans and leases (domestic) $211,130
    All real estate loans $170,365
    Real estate loans in domestic offices $170,365
    Construction and development loans $9,288
    Residential 1-4 family construction $702
    Other construction, all land development and other land $8,586
    Loans secured by nonfarm nonresidential properties $92,485
    Nonfarm nonresidential secured by owner-occupied properties $46,383
    Commercial real estate & other non-farm, non-residential $46,102
    Multifamily residential real estate $14,530
    1-4 family residential loans $54,062
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $35,264
    To non-U.S. addressees $0
    Loans to individuals $4,211
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $47
    Other loans to individuals $4,164
    All other loans & leases $1,290
    Loans to foreign governments and official institutions $0
    Other loans $401
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $3,265
    Non 1-4 family restructured loans & leases $2,352
    Total loans and leases (foreign) $0

    Devon Bank had $207,677,000 of loans outstanding in 2019. $170,365,000 of loans were in real estate loans. $9,288,000 of loans were in development loans. $14,530,000 of loans were in multifamily mortgage loans. $54,062,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $47,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 107 $31,345 $292,944
    Nonfarm, nonresidential loans - <$100k 8 $323 $40,375
    Nonfarm, nonresidential loans - $100-250k 33 $4,445 $134,697
    Nonfarm, nonresidential loans - $250k-1MM 66 $26,577 $402,682
    Commercial & Industrial, US addressed loans - <$1MM 160 $21,884 $136,775
    Commercial & Industrial, US addressed loans - <$100k 63 $2,288 $36,317
    Commercial & Industrial, US addressed loans - $100-250k 48 $5,113 $106,521
    Commercial & Industrial, US addressed loans - $250k-1MM 49 $14,483 $295,571