Key Mortgage Services Rates, Fees & Info
Chicago, ILLEI: 549300VJ7C5JB4W87F48
Tax ID: 36-3608295
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Mortgage Data
Review & Overview
Key Mortgage Services is a smaller mortgage company specializing in Home Purchase and Refi loans. Key Mortgage Services has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Chicago, Rockford, Madison, Milwaukee, and Kankakee among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)Key Mortgage Services 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. Key Mortgage Services 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.81% | 12/29/24 |
| 30 Year Conventional Refi | 6.57% | 12/29/24 |
| 30 Year Cash-out Refi | 6.91% | 12/29/24 |
| 30 Year FHA Purchase | 7.55% | 12/29/24 |
| 30 Year FHA Refi | 7.11% | 12/29/24 |
| 30 Year VA Purchase | 6.48% | 12/29/24 |
| 30 Year VA Refi | 6.27% | 12/29/24 |
| 15 Year Conventional Purchase | 6.32% | 12/29/24 |
| 15 Year Conventional Refi | 6.00% | 12/29/24 |
| 15 Year Cash-out Refi | 6.00% | 12/29/24 |
| 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. | ||
Key Mortgage Services Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,577Origination Dollar Volume (All Markets)
$594,165,000Top 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2,491 | $580,935,000 | $233,214 | $4,577 | 4.03% |
| ROCKFORD, IL (FHA|USDA|VA) | 31 | $3,355,000 | $108,226 | $3,294 | 3.69% |
| MADISON, WI (FHA|USDA|VA) | 4 | $1,400,000 | $350,000 | $3,071 | 3.88% |
| Outside of Metro Areas | 8 | $1,270,000 | $158,750 | $2,672 | 4.16% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 6 | $1,030,000 | $171,667 | $2,833 | 4.40% |
| KANKAKEE, IL (FHA|USDA|VA) | 4 | $790,000 | $197,500 | $5,079 | 4.50% |
| Ottawa, IL (FHA|USDA|VA) | 8 | $760,000 | $95,000 | $4,472 | 3.30% |
| NILES, MI (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $3,003 | 4.13% |
| Whitewater, WI (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $2,864 | 4.33% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $3,825 | 3.38% |
| PEORIA, IL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $2,806 | 4.06% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $15,476 | 3.50% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,479 | 3.75% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,502 | 4.25% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $8,263 | 4.63% |
| Warsaw, IN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,152 | 3.75% |
| Freeport, IL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,553 | 3.63% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,207 | 3.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $1,527 | 5.38% |
| DECATUR, IL (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $1,946 | 3.04% |
| Rochelle, IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,241 | 4.38% |
| RACINE, WI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,333 | 4.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,617 | 3.88% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,092 | 4.75% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,526 | 4.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against Key Mortgage Services based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 14
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Product Mix
For 2019, Key Mortgage Services's most frequently originated type of loan was Conventional, with 2,141 originations. Their 2nd most popular type was FHA, with 393 originations.
Loan Reason
For 2019, Key Mortgage Services's most frequently cited loan purpose was Home Purchase, with 2,070 originations. The 2nd most popular reason was Refi, with 476 originations.
Loan Duration/Length
For 2019, Key Mortgage Services's most frequently cited loan duration was 30 Year, with 2,278 originations. The 2nd most popular length was 15 Year, with 133 originations.
Origination Fees/Closing Costs
Key Mortgage Services's average total fees were $4,863, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,978 originations.
Interest Rates
During 2019, Key Mortgage Services's average interest rate for loans was 4.24%, while their most frequently originated rate bucket for loans was 4-5%, with 1,135 originations.
Loan Sizing
2019 saw Key Mortgage Services place emphasis on $200k-400k loans with 1,263 originations, totaling $353,105,000 in origination value.
Applicant Income
Key Mortgage Services lent most frequently to those with incomes in the $50k-75k range, with 607 originations. The second most popular income band? $100k-150k, with 586 originations.
Applicant Debt to Income Ratio
Key Mortgage Services lent most frequently to those with DTI ratios of 20-30%, with 605 originations. The next most common DTI ratio? 30-36%, with 526 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.61%
Key Mortgage Services has an average approval rate.
Pick Rate
Approvals leading to origination81.68%
Key Mortgage Services has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,577 | $594,165,000 | $230,565 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 2,577 | $594,165,000 | $230,565 |