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, Milwaukee, Ottawa, and Madison among others. We have data for 51 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.
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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
3,740Origination Dollar Volume (All Markets)
$983,990,000Top 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) | 3,550 | $942,810,000 | $265,580 | $4,850 | 2.92% |
| Outside of Metro Areas | 15 | $4,155,000 | $277,000 | $3,329 | 3.28% |
| ROCKFORD, IL (FHA|USDA|VA) | 26 | $3,590,000 | $138,077 | $3,872 | 2.37% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 13 | $3,245,000 | $249,615 | $4,064 | 3.41% |
| Ottawa, IL (FHA|USDA|VA) | 12 | $2,350,000 | $195,833 | $4,034 | 2.82% |
| MADISON, WI (FHA|USDA|VA) | 9 | $2,105,000 | $233,889 | $4,011 | 2.82% |
| RACINE, WI (FHA|USDA|VA) | 12 | $2,100,000 | $175,000 | $3,535 | 3.13% |
| KANKAKEE, IL (FHA|USDA|VA) | 9 | $2,045,000 | $227,222 | $4,176 | 3.26% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 7 | $1,905,000 | $272,143 | $3,106 | 3.09% |
| NILES, MI (FHA|USDA|VA) | 7 | $1,715,000 | $245,000 | $3,814 | 3.21% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $1,565,000 | $521,667 | $9,374 | 2.83% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 4 | $1,300,000 | $325,000 | $4,512 | 3.56% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $1,195,000 | $398,333 | $4,161 | 2.92% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $3,927 | 3.04% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $5,014 | 2.63% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $4,626 | 3.38% |
| Whitewater, WI (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $2,611 | 3.29% |
| Sterling, IL (FHA|USDA|VA) | 8 | $770,000 | $96,250 | $3,876 | 2.41% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $3,242 | 3.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $3,227 | 2.88% |
| Rochelle, IL (FHA|USDA|VA) | 4 | $530,000 | $132,500 | $3,175 | 3.00% |
| APPLETON, WI (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $6,126 | 3.75% |
| Beaver Dam, WI (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $5,775 | 2.63% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $3,696 | 3.17% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $3,179 | 2.94% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $4,068 | 2.75% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,585 | 2.88% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,648 | 3.00% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $2,571 | 2.81% |
| Jacksonville, IL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $3,959 | 3.00% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $2,681 | 3.06% |
| Dixon, IL (FHA|USDA|VA) | 4 | $310,000 | $77,500 | $4,005 | 2.56% |
| Baraboo, WI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,223 | 3.00% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,668 | 3.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,347 | 3.38% |
| Holland, MI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,342 | 2.88% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $22,636 | 3.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,161 | 3.50% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,714 | 3.25% |
| Mount Vernon, IL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,171 | 3.13% |
| Logansport, IN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,437 | 3.00% |
| Warsaw, IN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,931 | 4.00% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,744 | 3.50% |
| KOKOMO, IN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,256 | 3.00% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,485 | 3.50% |
| Freeport, IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,645 | 2.75% |
| Lincoln, IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,477 | 3.25% |
| Marinette, WI-MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,321 | 3.13% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,154 | 3.88% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,375 | 3.50% |
| Ludington, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,912 | 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 2021, Key Mortgage Services's most frequently originated type of loan was Conventional, with 3,296 originations. Their 2nd most popular type was FHA, with 343 originations.
Loan Reason
For 2021, Key Mortgage Services's most frequently cited loan purpose was Home Purchase, with 2,730 originations. The 2nd most popular reason was Refi, with 975 originations.
Loan Duration/Length
For 2021, Key Mortgage Services's most frequently cited loan duration was 30 Year, with 3,162 originations. The 2nd most popular length was 15 Year, with 253 originations.
Origination Fees/Closing Costs
Key Mortgage Services's average total fees were $5,259, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 3,043 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 1,776 | $504,980,000 | $284,336 |
| 3-4% | 1,525 | $405,855,000 | $266,134 |
| <2.5% | 392 | $63,610,000 | $162,270 |
| 4-5% | 46 | $9,350,000 | $203,261 |
| 5-6% | 1 | $195,000 | $195,000 |
During 2021, Key Mortgage Services's average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,776 originations.
Loan Sizing
2021 saw Key Mortgage Services place emphasis on $200k-400k loans with 2,035 originations, totaling $580,025,000 in origination value.
Applicant Income
Key Mortgage Services lent most frequently to those with incomes in the $100k-150k range, with 915 originations. The second most popular income band? $50k-75k, with 813 originations.
Applicant Debt to Income Ratio
Key Mortgage Services lent most frequently to those with DTI ratios of 20-30%, with 1,010 originations. The next most common DTI ratio? 30-36%, with 710 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.08%
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 origination81.74%
Key Mortgage Services has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,740 | $983,990,000 | $263,099 |