The Gifford State Bank Mortgage Rates, Fees & Info

Gifford, IL

LEI: 549300W424PDJPNFLY60

Tax ID: 37-0429100

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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 two markets are Champaign and Danville .

    The Gifford State Bank has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

    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.


    Originations

    55

    Origination Dollar Volume (All Markets)

    $7,615,000

    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) 32 $4,540,000 $141,875 $0 0.00%
    DANVILLE, IL (FHA|USDA|VA) 17 $2,305,000 $135,588 $0 0.00%
    Outside of Metro Areas 6 $770,000 $128,333 $0 0.00%
    The Gifford State Bank's top markets include Champaign and Danville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 55 $7,615,000 $138,455 $0 0.00%

    For 2024, The Gifford State Bank's most frequently originated type of loan was Conventional, with 55 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 27 $4,875,000 $180,556 $0 0.00%
    Home Improvement 12 $1,110,000 $92,500 $0 0.00%
    Refi 11 $1,355,000 $123,182 $0 0.00%
    Other 5 $275,000 $55,000 $0 0.00%

    For 2024, The Gifford State Bank's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Home Improvement, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 55 $7,615,000 $138,455 $0 0.00%

    For 2024, The Gifford State Bank's most frequently cited loan duration was Other, with 55 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 25 $1,355,000 $54,200 $0 0.00%
    $100k-200k 18 $2,640,000 $146,667 $0 0.00%
    $200k-400k 10 $2,700,000 $270,000 $0 0.00%
    $400k-600k 2 $920,000 $460,000 $0 0.00%

    2024 saw The Gifford State Bank place emphasis on $100,000 or less loans with 25 originations, totaling $1,355,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 16 $1,750,000 $109,375 $0 0.00%
    $50k or less 11 $835,000 $75,909 $0 0.00%
    $150k-250k 10 $1,960,000 $196,000 $0 0.00%
    $100k-150k 9 $1,615,000 $179,444 $0 0.00%
    $250k+ 3 $565,000 $188,333 $0 0.00%
    $75k-100k 3 $385,000 $128,333 $0 0.00%

    The Gifford State Bank lent most frequently to those with incomes in the $50k-75k range, with 16 originations. The second most popular income band? $50k or less, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 55 $7,615,000 $138,455 $0 0.00%

    The Gifford State Bank lent most frequently to those with DTI ratios of Exempt%, with 55 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 52 $7,100,000 $136,538 $0 0.00%
    Black 2 $460,000 $230,000 $0 0.00%
    Not applicable 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.69%

    The Gifford State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    96.36%

    The Gifford State Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 55 $7,615,000 $138,455

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    55 $7,615,000 $138,455