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 and Refi 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 above average approval rate when compared to the average across all lenders.

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Originations

84

Origination Dollar Volume (All Markets)

$8,450,000

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) 48 $5,690,000 $118,542 $0 0.00%
DANVILLE, IL (FHA|USDA|VA) 26 $1,820,000 $70,000 $0 0.00%
Outside of Metro Areas 10 $940,000 $94,000 $0 0.00%
The Gifford State Bank's top markets include Champaign and Danville among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 84 $8,450,000 $100,595 $0 0.00%

    For 2019, The Gifford State Bank's most frequently originated type of loan was Conventional, with 84 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 41 $3,805,000 $92,805 $0 0.00%
    Refi 27 $3,915,000 $145,000 $0 0.00%
    Other 11 $515,000 $46,818 $0 0.00%
    Home Improvement 5 $215,000 $43,000 $0 0.00%

    For 2019, The Gifford State Bank's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Refi, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 84 $8,450,000 $100,595 $0 0.00%

    For 2019, The Gifford State Bank's most frequently cited loan duration was Other, with 84 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 50 $2,500,000 $50,000 $0 0.00%
    $100k-200k 23 $3,045,000 $132,391 $0 0.00%
    $200k-400k 10 $2,490,000 $249,000 $0 0.00%
    $400k-600k 1 $415,000 $415,000 $0 0.00%

    2019 saw The Gifford State Bank place emphasis on $100,000 or less loans with 50 originations, totaling $2,500,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 24 $1,650,000 $68,750 $0 0.00%
    $50k or less 23 $1,405,000 $61,087 $0 0.00%
    $75k-100k 13 $1,645,000 $126,538 $0 0.00%
    $100k-150k 11 $1,325,000 $120,455 $0 0.00%
    $150k-250k 9 $1,975,000 $219,444 $0 0.00%
    $250k+ 4 $450,000 $112,500 $0 0.00%

    The Gifford State Bank lent most frequently to those with incomes in the $50k-75k range, with 24 originations. The second most popular income band? $50k or less, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 84 $8,450,000 $100,595 $0 0.00%

    The Gifford State Bank lent most frequently to those with DTI ratios of Exempt%, with 84 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 83 $8,365,000 $100,783 $0 0.00%
    Chinese 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.55%

    The Gifford State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 84 $8,450,000 $100,595

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $75,000 $75,000
    Single Family (1-4 Units):Site-Built 83 $8,375,000 $100,904