Key Mortgage Services Rates, Fees & Info

Chicago, IL

LEI: 549300VJ7C5JB4W87F48

Tax ID: 36-3608295

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

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Mortgage Data

Review & Overview

Key Mortgage Services is a small 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, Whitewater, and Racine among others. We have data for 39 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.81% 3/28/24
30 Year Conventional Refi 6.57% 3/28/24
30 Year Cash-out Refi 6.91% 3/28/24
30 Year FHA Purchase 7.55% 3/28/24
30 Year FHA Refi 7.11% 3/28/24
30 Year VA Purchase 6.48% 3/28/24
30 Year VA Refi 6.27% 3/28/24
15 Year Conventional Purchase 6.32% 3/28/24
15 Year Conventional Refi 6.00% 3/28/24
15 Year Cash-out Refi 6.00% 3/28/24
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






Your Estimates

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

This is not an official calculator from Key Mortgage Services. 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

4,356

Origination Dollar Volume (All Markets)

$1,101,720,000

Awards

Key Mortgage Services FHA Loans bronze
Show all (1) awards

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) 4,203 $1,071,625,000 $254,967 $4,327 3.00%
Outside of Metro Areas 15 $3,905,000 $260,333 $3,860 3.37%
ROCKFORD, IL (FHA|USDA|VA) 36 $3,440,000 $95,556 $3,225 1.98%
MADISON, WI (FHA|USDA|VA) 9 $2,455,000 $272,778 $4,903 3.07%
Whitewater, WI (FHA|USDA|VA) 10 $2,020,000 $202,000 $2,870 3.09%
RACINE, WI (FHA|USDA|VA) 8 $1,920,000 $240,000 $3,617 3.25%
KANKAKEE, IL (FHA|USDA|VA) 10 $1,770,000 $177,000 $5,201 3.29%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 6 $1,640,000 $273,333 $4,478 3.19%
NILES, MI (FHA|USDA|VA) 4 $1,270,000 $317,500 $3,281 2.97%
Ottawa, IL (FHA|USDA|VA) 5 $1,205,000 $241,000 $4,338 3.40%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 5 $1,055,000 $211,000 $2,604 2.85%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $955,000 $318,333 $5,371 3.21%
Sterling, IL (FHA|USDA|VA) 6 $710,000 $118,333 $3,911 3.13%
Sturgis, MI (FHA|USDA|VA) 2 $690,000 $345,000 $2,982 3.25%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $660,000 $330,000 $3,358 3.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $515,000 $515,000 $5,402 3.13%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $515,000 $515,000 $4,725 3.00%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 2 $440,000 $220,000 $3,236 3.06%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $405,000 $405,000 $5,813 2.50%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $395,000 $395,000 $5,540 2.88%
Beaver Dam, WI (FHA|USDA|VA) 2 $390,000 $195,000 $4,082 3.13%
Jacksonville, IL (FHA|USDA|VA) 1 $365,000 $365,000 $8,003 3.38%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $315,000 $315,000 $2,391 2.75%
Rochelle, IL (FHA|USDA|VA) 3 $305,000 $101,667 $3,420 1.96%
Holland, MI (FHA|USDA|VA) 1 $255,000 $255,000 $2,981 3.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $245,000 $245,000 $3,983 3.00%
BLOOMINGTON, IL (FHA|USDA|VA) 3 $245,000 $81,667 $2,651 2.38%
DECATUR, IL (FHA|USDA|VA) 1 $235,000 $235,000 $2,475 3.13%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 2 $230,000 $115,000 $4,118 2.81%
Warsaw, IN (FHA|USDA|VA) 1 $205,000 $205,000 $2,553 2.88%
Baraboo, WI (FHA|USDA|VA) 1 $205,000 $205,000 $6,634 4.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $205,000 $205,000 $2,606 3.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $205,000 $205,000 $3,107 2.75%
PEORIA, IL (FHA|USDA|VA) 1 $165,000 $165,000 $2,365 2.38%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,825 3.88%
SPRINGFIELD, IL (FHA|USDA|VA) 1 $125,000 $125,000 $4,840 4.25%
Dixon, IL (FHA|USDA|VA) 2 $100,000 $50,000 $2,841 1.44%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $95,000 $95,000 $2,489 2.75%
Marinette, WI-MI (FHA|USDA|VA) 1 $85,000 $85,000 $2,645 3.00%
Key Mortgage Services's top markets include Chicago, Rockford, Madison, Whitewater, and Racine among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • 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.

    Rock Valley Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,881 $991,615,000 $255,505 $3,742 2.96%
    FHA 402 $86,530,000 $215,249 $9,030 3.24%
    VA 73 $23,575,000 $322,945 $8,356 3.08%

    For 2020, Key Mortgage Services's most frequently originated type of loan was Conventional, with 3,881 originations. Their 2nd most popular type was FHA, with 402 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,746 $652,450,000 $237,600 $5,221 2.91%
    Refi 1,577 $440,485,000 $279,318 $2,723 3.13%
    Cash Out Refi 23 $6,315,000 $274,565 $3,251 3.64%
    Home Improvement 10 $2,470,000 $247,000 $5,479 2.74%

    For 2020, Key Mortgage Services's most frequently cited loan purpose was Home Purchase, with 2,746 originations. The 2nd most popular reason was Refi, with 1,577 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,523 $950,865,000 $269,902 $4,847 3.18%
    15 Year 302 $68,370,000 $226,391 $2,896 2.80%
    10 Year 215 $3,375,000 $15,698 $147 0.16%
    20 Year 159 $41,625,000 $261,792 $2,917 3.12%
    Other 126 $37,330,000 $296,270 $2,496 3.11%
    5 Year 30 $150,000 $5,000 $0 0.00%
    30+ year 1 $5,000 $5,000 $0 5.13%

    For 2020, Key Mortgage Services's most frequently cited loan duration was 30 Year, with 3,523 originations. The 2nd most popular length was 15 Year, with 302 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 3,164 $872,250,000 $275,680
    $2k-3k 514 $119,500,000 $232,490
    $<1k 360 $14,880,000 $41,333
    $3k-4k 129 $37,165,000 $288,101
    $4k-5k 48 $16,210,000 $337,708
    $5k+ 42 $16,670,000 $396,905

    Key Mortgage Services's average total fees were $4,847, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 3,164 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,037 $552,365,000 $271,166
    2.5-3% 1,750 $480,140,000 $274,366
    <2.5% 410 $39,790,000 $97,049
    4-5% 131 $26,795,000 $204,542
    5-6% 17 $2,575,000 $151,471

    During 2020, Key Mortgage Services's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 3-4%, with 2,037 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,338 $658,860,000 $281,805 $4,615 3.15%
    $100k-200k 1,131 $178,835,000 $158,121 $4,600 3.25%
    $400k-600k 445 $207,165,000 $465,539 $4,299 3.12%
    $100,000 or less 378 $9,780,000 $25,873 $1,053 0.95%
    $600k-1MM 59 $41,615,000 $705,339 $7,152 3.34%
    $1MM+ 5 $5,465,000 $1,093,000 $7,221 3.13%

    2020 saw Key Mortgage Services place emphasis on $200k-400k loans with 2,338 originations, totaling $658,860,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,080 $305,610,000 $282,972 $4,252 3.13%
    $50k-75k 955 $164,595,000 $172,351 $4,471 2.79%
    $75k-100k 844 $186,490,000 $220,960 $4,497 3.01%
    $150k-250k 787 $279,235,000 $354,809 $4,065 3.15%
    $50k or less 424 $53,660,000 $126,557 $4,286 2.66%
    $250k+ 266 $112,130,000 $421,541 $4,093 3.13%

    Key Mortgage Services lent most frequently to those with incomes in the $100k-150k range, with 1,080 originations. The second most popular income band? $50k-75k, with 955 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,263 $304,945,000 $241,445 $3,373 2.73%
    30-36% 876 $220,440,000 $251,644 $4,195 2.98%
    <20% 400 $104,910,000 $262,275 $3,184 2.84%
    44% 167 $40,135,000 $240,329 $5,752 3.21%
    40% 158 $43,760,000 $276,962 $5,127 3.28%
    41% 145 $35,045,000 $241,690 $5,076 3.26%
    38% 144 $39,390,000 $273,542 $4,610 3.16%
    39% 140 $36,550,000 $261,071 $5,114 3.23%
    43% 140 $35,430,000 $253,071 $5,217 3.25%
    42% 136 $37,700,000 $277,206 $5,197 3.23%
    37% 134 $36,480,000 $272,239 $4,491 3.13%
    36% 132 $35,020,000 $265,303 $4,840 3.19%
    50-60% 94 $23,170,000 $246,489 $9,277 3.27%
    49% 91 $23,215,000 $255,110 $5,245 3.15%
    45% 91 $23,445,000 $257,637 $4,675 3.16%
    46% 90 $22,920,000 $254,667 $4,831 3.13%
    48% 75 $18,905,000 $252,067 $5,268 3.17%
    47% 66 $16,020,000 $242,727 $4,970 3.22%
    >60% 3 $745,000 $248,333 $7,746 3.25%

    Key Mortgage Services lent most frequently to those with DTI ratios of 20-30%, with 1,263 originations. The next most common DTI ratio? 30-36%, with 876 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,717 $958,965,000 $257,994 $4,215 3.02%
    Asian 223 $61,425,000 $275,448 $4,688 3.00%
    Black 228 $42,260,000 $185,351 $5,233 2.71%
    Not provided 174 $36,360,000 $208,966 $4,586 2.71%
    American Indian 13 $2,485,000 $191,154 $4,243 2.40%
    Asian Indian 1 $225,000 $225,000 $2,264 3.50%

    Approval Rates

    Total approvals of all applications
    95.90%

    Key Mortgage Services has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    82.48%

    Key Mortgage Services has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,356 $1,101,720,000 $252,920

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 4,356 $1,101,720,000 $252,920

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 55 $9,615,000 $174,818 $3,218 3.00%
    40-60% 324 $80,650,000 $248,920 $3,141 3.01%
    60-80% 1,373 $388,575,000 $283,012 $3,635 3.18%
    80-100% 2,300 $613,260,000 $266,635 $5,329 3.21%
    Over 100% 18 $7,380,000 $410,000 $16,985 3.24%
    Under 20% 286 $2,240,000 $7,832 $47 0.13%