The Gifford State Bank Mortgage Rates, Fees & Info

Gifford, IL

LEI: 549300W424PDJPNFLY60

Tax ID: 37-0429100

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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

98

Origination Dollar Volume (All Markets)

$9,610,000

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
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%
The Gifford State Bank's top markets include Champaign, Danville, Charleston, and Decatur among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 49 $6,175,000 $126,020 $0 0.00%
    Home Improvement 24 $1,220,000 $50,833 $0 0.00%
    Refi 16 $1,810,000 $113,125 $0 0.00%
    Other 9 $405,000 $45,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 59 $2,745,000 $46,525 $0 0.00%
    $100k-200k 27 $3,605,000 $133,519 $0 0.00%
    $200k-400k 11 $2,855,000 $259,545 $0 0.00%
    $400k-600k 1 $405,000 $405,000 $0 0.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 27 $1,465,000 $54,259 $0 0.00%
    $50k-75k 19 $2,175,000 $114,474 $0 0.00%
    $75k-100k 19 $1,735,000 $91,316 $0 0.00%
    $100k-150k 15 $1,995,000 $133,000 $0 0.00%
    $150k-250k 13 $1,465,000 $112,692 $0 0.00%
    $250k+ 5 $775,000 $155,000 $0 0.00%

    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 applications
    93.33%

    The Gifford State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 98 $9,610,000 $98,061

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    98 $9,610,000 $98,061