Federated Bank Mortgage Rates, Fees & Info
Onarga, ILLEI: 549300X66F41NHRM7578
Tax ID: 37-0447880
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Federated Bank is a smaller bank specializing in Home Purchase loans. Federated Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kankakee, Bloomington, and Lincoln among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Federated Bank has an above average approval rate when compared to the average across all lenders. They have a below 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
14Origination Dollar Volume (All Markets)
$1,380,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 9 | $755,000 | $83,889 | $0 | 0.00% |
| KANKAKEE, IL (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $0 | 0.00% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Lincoln, IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 14 | $1,380,000 | $98,571 | $0 | 0.00% |
For 2024, Federated Bank's most frequently originated type of loan was Conventional, with 14 originations.
Loan Reason
For 2024, Federated Bank's most frequently cited loan purpose was Home Purchase, with 6 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 14 | $1,380,000 | $98,571 | $0 | 0.00% |
For 2024, Federated Bank's most frequently cited loan duration was Other, with 14 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 9 | $575,000 | $63,889 | $0 | 0.00% |
| $100k-200k | 4 | $600,000 | $150,000 | $0 | 0.00% |
| $200k-400k | 1 | $205,000 | $205,000 | $0 | 0.00% |
2024 saw Federated Bank place emphasis on $100,000 or less loans with 9 originations, totaling $575,000 in origination value.
Applicant Income
Federated Bank lent most frequently to those with incomes in the $100k-150k range, with 4 originations. The second most popular income band? $50k-75k, with 4 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 14 | $1,380,000 | $98,571 | $0 | 0.00% |
Federated Bank lent most frequently to those with DTI ratios of Exempt%, with 14 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 13 | $1,215,000 | $93,462 | $0 | 0.00% |
| Not applicable | 1 | $165,000 | $165,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications94.74%
Federated Bank has an average approval rate.
Pick Rate
Approvals leading to origination71.43%
Federated Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 14 | $1,380,000 | $98,571 |