Bank Of Springfield Mortgage Rates, Fees & Info
Springfield, ILLEI: 549300XAJENHWRM32Z86
Tax ID: 37-0865074
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Mortgage Data
Review & Overview
Bank Of Springfield is a smaller bank specializing in Home Purchase loans. Bank Of Springfield has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: St. Louis, Springfield, Boston, Chicago, and Bridgeport among others. We have data for 68 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Of Springfield 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. Bank Of Springfield is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.55% | 12/16/24 |
| 30 Year Conventional Refi | 6.32% | 12/16/24 |
| 30 Year Cash-out Refi | 6.44% | 12/16/24 |
| 30 Year FHA Purchase | 7.26% | 12/16/24 |
| 30 Year VA Purchase | 6.41% | 12/16/24 |
| 30 Year USDA Purchase | 7.14% | 12/16/24 |
| 15 Year Conventional Purchase | 5.82% | 12/16/24 |
| 15 Year Conventional Refi | 5.70% | 12/16/24 |
| 15 Year Cash-out Refi | 5.70% | 12/16/24 |
| 15 Year FHA Purchase | 5.68% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Bank Of Springfield Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
837Origination Dollar Volume (All Markets)
$193,985,000Awards
Bank of Springfield - 2023
Bank of Springfield is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Bank Of Springfield's average 30 year fixed mortgage rate was
6.73%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.25%.
Relative Fees (Closing Costs)
Bank Of Springfield's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,845.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 286 | $70,600,000 | $246,853 | $3,089 | 7.17% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 346 | $57,320,000 | $165,665 | $1,896 | 7.03% |
| Outside of Metro Areas | 27 | $6,675,000 | $247,222 | $2,707 | 7.35% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $5,805,000 | $5,805,000 | $16,089 | 5.80% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 8 | $5,750,000 | $718,750 | $4,069 | 7.05% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $5,035,000 | $5,035,000 | $2,221 | 5.88% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 22 | $4,370,000 | $198,636 | $2,457 | 7.45% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $3,630,000 | $1,815,000 | $0 | 6.45% |
| Quincy, IL-MO (FHA|USDA|VA) | 22 | $3,230,000 | $146,818 | $2,126 | 7.12% |
| Jacksonville, IL (FHA|USDA|VA) | 15 | $2,305,000 | $153,667 | $1,612 | 7.38% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 5 | $2,135,000 | $427,000 | $0 | 7.32% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $1,755,000 | $1,755,000 | $0 | 6.25% |
| Fairfield, IA (FHA|USDA|VA) | 2 | $1,520,000 | $760,000 | $0 | 7.70% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $1,450,000 | $725,000 | $3,580 | 7.13% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 5 | $1,055,000 | $211,000 | $1,225 | 7.81% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $1,712 | 6.40% |
| Macomb, IL (FHA|USDA|VA) | 4 | $900,000 | $225,000 | $2,981 | 7.90% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $0 | 7.50% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $1,741 | 8.09% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $0 | 7.25% |
| MONTGOMERY, AL (FHA|USDA|VA) | 6 | $750,000 | $125,000 | $0 | 6.85% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $1,636 | 7.50% |
| PEORIA, IL (FHA|USDA|VA) | 4 | $690,000 | $172,500 | $2,216 | 7.48% |
| Taylorville, IL (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $1,466 | 7.76% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $13,924 | 6.45% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 6 | $660,000 | $110,000 | $0 | 7.46% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $0 | 8.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $0 | 7.75% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $4,195 | 6.50% |
| Lincoln, IL (FHA|USDA|VA) | 5 | $595,000 | $119,000 | $1,293 | 7.26% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $5,887 | 7.25% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $2,142 | 7.61% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $4,358 | 6.83% |
| LINCOLN, NE (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $1,520 | 7.15% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $3,982 | 6.40% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $4,263 | 6.50% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $2,465 | 8.12% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,333 | 6.50% |
| DECATUR, IL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $0 | 7.31% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,293 | 7.06% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,324 | 7.38% |
| Farmington, MO (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $2,860 | 7.36% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $2,172 | 6.91% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,717 | 6.78% |
| Hannibal, MO (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $1,496 | 6.62% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 6.90% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,571 | 6.13% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,074 | 6.55% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $1,940 | 6.80% |
| Oxford, MS (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,780 | 7.10% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,582 | 6.13% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,166 | 7.38% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,170 | 6.90% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $1,790 | 7.05% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,191 | 6.21% |
| JACKSON, MS (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $0 | 6.55% |
| Dayton, TN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,223 | 6.21% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 8.65% |
| Searcy, AR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 6.80% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,039 | 6.63% |
| Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $1,720 | 6.34% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,173 | 6.18% |
| DANVILLE, IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 7.40% |
| TULSA, OK (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.88% |
| Warrensburg, MO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 7.75% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,145 | 6.35% |
| LOGAN, UT-ID (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,520 | 6.83% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 7.30% |
Similar Lenders
We use machine learning to identify the top lenders compared against Bank of Springfield based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2023, Bank Of Springfield's most frequently originated type of loan was Conventional, with 811 originations. Their 2nd most popular type was FHA, with 14 originations.
Loan Reason
For 2023, Bank Of Springfield's most frequently cited loan purpose was Home Purchase, with 657 originations. The 2nd most popular reason was Refi, with 65 originations.
Loan Duration/Length
For 2023, Bank Of Springfield's most frequently cited loan duration was 30 Year, with 483 originations. The 2nd most popular length was 5 Year, with 167 originations.
Origination Fees/Closing Costs
Bank Of Springfield's average total fees were $2,845, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 445 originations.
Interest Rates
During 2023, Bank Of Springfield's average interest rate for loans was 6.73%, while their most frequently originated rate bucket for loans was 7-8%, with 329 originations.
Loan Sizing
2023 saw Bank Of Springfield place emphasis on $100k-200k loans with 306 originations, totaling $43,830,000 in origination value.
Applicant Income
Bank Of Springfield lent most frequently to those with incomes in the $100k-150k range, with 173 originations. The second most popular income band? $150k-250k, with 131 originations.
Applicant Debt to Income Ratio
Bank Of Springfield lent most frequently to those with DTI ratios of 20-30%, with 171 originations. The next most common DTI ratio? 30-36%, with 127 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.39%
Bank Of Springfield has an average approval rate.
Pick Rate
Approvals leading to origination86.14%
Bank Of Springfield has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 837 | $193,985,000 | $231,762 |