The Gifford State Bank Mortgage Rates, Fees & Info
Gifford, ILLEI: 549300W424PDJPNFLY60
Tax ID: 37-0429100
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
The Gifford State Bank is a smaller bank specializing in Home Purchase loans. The Gifford State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Champaign, Danville, Charleston, and Decatur among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)The Gifford State Bank has an above average approval rate when compared to the average across all lenders.
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Originations
98Origination Dollar Volume (All Markets)
$9,610,000Top 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 |
|---|---|---|---|---|---|
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 46 | $5,100,000 | $110,870 | $0 | 0.00% |
| DANVILLE, IL (FHA|USDA|VA) | 36 | $3,160,000 | $87,778 | $0 | 0.00% |
| Outside of Metro Areas | 13 | $935,000 | $71,923 | $0 | 0.00% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 0.00% |
| DECATUR, IL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 98 | $9,610,000 | $98,061 | $0 | 0.00% |
For 2023, The Gifford State Bank's most frequently originated type of loan was Conventional, with 98 originations.
Loan Reason
For 2023, The Gifford State Bank's most frequently cited loan purpose was Home Purchase, with 49 originations. The 2nd most popular reason was Home Improvement, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 98 | $9,610,000 | $98,061 | $0 | 0.00% |
For 2023, The Gifford State Bank's most frequently cited loan duration was Other, with 98 originations.
Loan Sizing
2023 saw The Gifford State Bank place emphasis on $100,000 or less loans with 59 originations, totaling $2,745,000 in origination value.
Applicant Income
The Gifford State Bank lent most frequently to those with incomes in the $50k or less range, with 27 originations. The second most popular income band? $50k-75k, with 19 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 98 | $9,610,000 | $98,061 | $0 | 0.00% |
The Gifford State Bank lent most frequently to those with DTI ratios of Exempt%, with 98 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 96 | $9,480,000 | $98,750 | $0 | 0.00% |
| Black | 2 | $130,000 | $65,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications93.33%
The Gifford State Bank has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 98 | $9,610,000 | $98,061 |