The Gifford State Bank Mortgage Rates, Fees & Info
Gifford, ILLEI: 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
84Origination Dollar Volume (All Markets)
$8,450,000Top 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) | 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% |
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
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
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
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 applications96.55%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 84 | $8,450,000 | $100,595 |