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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.81% | 12/17/24 |
| 30 Year Conventional Refi | 6.57% | 12/17/24 |
| 30 Year Cash-out Refi | 6.91% | 12/17/24 |
| 30 Year FHA Purchase | 7.55% | 12/17/24 |
| 30 Year FHA Refi | 7.11% | 12/17/24 |
| 30 Year VA Purchase | 6.48% | 12/17/24 |
| 30 Year VA Refi | 6.27% | 12/17/24 |
| 15 Year Conventional Purchase | 6.32% | 12/17/24 |
| 15 Year Conventional Refi | 6.00% | 12/17/24 |
| 15 Year Cash-out Refi | 6.00% | 12/17/24 |
| 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
4,356Origination Dollar Volume (All Markets)
$1,101,720,000Awards
Key Mortgage Services - 2020
Key Mortgage Services is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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% |
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.
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Product Mix
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
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
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
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
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
2020 saw Key Mortgage Services place emphasis on $200k-400k loans with 2,338 originations, totaling $658,860,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications95.90%
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 origination82.48%
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 |