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, Phoenix, Miami, and Quincy among others. We have data for 74 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 about average 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% | 4/28/24 |
| 30 Year Conventional Refi | 6.32% | 4/28/24 |
| 30 Year Cash-out Refi | 6.44% | 4/28/24 |
| 30 Year FHA Purchase | 7.26% | 4/28/24 |
| 30 Year VA Purchase | 6.41% | 4/28/24 |
| 30 Year USDA Purchase | 7.14% | 4/28/24 |
| 15 Year Conventional Purchase | 5.82% | 4/28/24 |
| 15 Year Conventional Refi | 5.70% | 4/28/24 |
| 15 Year Cash-out Refi | 5.70% | 4/28/24 |
| 15 Year FHA Purchase | 5.68% | 4/28/24 |
| 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
1,054Origination Dollar Volume (All Markets)
$239,490,000Awards
Bank of Springfield - 2022
Bank of Springfield is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 377 | $85,385,000 | $226,485 | $2,755 | 5.14% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 442 | $83,500,000 | $188,914 | $1,971 | 4.86% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $5,465,000 | $1,821,667 | $8,726 | 3.07% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 5 | $5,135,000 | $1,027,000 | $7,299 | 4.62% |
| Quincy, IL-MO (FHA|USDA|VA) | 35 | $4,515,000 | $129,000 | $2,779 | 5.10% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $4,470,000 | $2,235,000 | $13,776 | 4.55% |
| Outside of Metro Areas | 23 | $4,315,000 | $187,609 | $2,445 | 4.89% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 11 | $4,255,000 | $386,818 | $4,789 | 4.37% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $3,100,000 | $1,550,000 | $4,519 | 3.88% |
| Jacksonville, IL (FHA|USDA|VA) | 22 | $2,540,000 | $115,455 | $1,918 | 5.15% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 5 | $2,195,000 | $439,000 | $2,233 | 4.90% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 5 | $2,115,000 | $423,000 | $4,077 | 4.70% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $2,005,000 | $2,005,000 | $5,577 | 5.25% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $1,955,000 | $1,955,000 | $4,352 | 4.50% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 4 | $1,940,000 | $485,000 | $4,370 | 4.41% |
| Taylorville, IL (FHA|USDA|VA) | 10 | $1,420,000 | $142,000 | $3,571 | 4.54% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $1,385,000 | $1,385,000 | $13,298 | 3.50% |
| Hannibal, MO (FHA|USDA|VA) | 4 | $1,320,000 | $330,000 | $2,709 | 4.49% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 2 | $1,280,000 | $640,000 | $3,024 | 4.55% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $1,030,000 | $515,000 | $2,457 | 5.33% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $1,030,000 | $515,000 | $2,637 | 4.50% |
| MONTGOMERY, AL (FHA|USDA|VA) | 7 | $995,000 | $142,143 | $0 | 6.08% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $3,908 | 5.23% |
| Lincoln, IL (FHA|USDA|VA) | 5 | $815,000 | $163,000 | $1,515 | 5.18% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $2,116 | 5.50% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $2,489 | 5.73% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $0 | 4.50% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $1,876 | 4.81% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $6,014 | 3.83% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $0 | 5.25% |
| Effingham, IL (FHA|USDA|VA) | 7 | $625,000 | $89,286 | $2,143 | 4.53% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $3,524 | 4.18% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 6.25% |
| PEORIA, IL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $3,363 | 4.55% |
| Macomb, IL (FHA|USDA|VA) | 6 | $490,000 | $81,667 | $2,539 | 6.83% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $5,320 | 6.43% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $2,314 | 5.79% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 4 | $440,000 | $110,000 | $0 | 5.37% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $2,925 | 4.98% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 3.60% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 3.75% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $0 | 5.98% |
| Rolla, MO (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,384 | 3.63% |
| DECATUR, IL (FHA|USDA|VA) | 4 | $380,000 | $95,000 | $3,131 | 4.81% |
| LINCOLN, NE (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $983 | 6.50% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,128 | 5.75% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $14,375 | 3.13% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,818 | 6.25% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $2,047 | 5.04% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,873 | 2.65% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,812 | 5.80% |
| DeRidder, LA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,418 | 3.35% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $542 | 5.00% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 6.45% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 5.86% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,109 | 2.98% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,471 | 2.85% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 7.63% |
| Marion, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 4.95% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 4.48% |
| Dixon, IL (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 5.25% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,705 | 4.30% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,963 | 5.00% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 6.50% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 4.70% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 3.85% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 3.80% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.48% |
| Kirksville, MO (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,651 | 3.75% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 3.48% |
| Centralia, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,844 | 5.18% |
| Portsmouth, OH (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,267 | 4.20% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $743 | 5.25% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $404 | 7.00% |
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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 2022, Bank Of Springfield's most frequently originated type of loan was Conventional, with 1,009 originations. Their 2nd most popular type was FHA, with 30 originations.
Loan Reason
For 2022, Bank Of Springfield's most frequently cited loan purpose was Home Purchase, with 802 originations. The 2nd most popular reason was Refi, with 116 originations.
Loan Duration/Length
For 2022, Bank Of Springfield's most frequently cited loan duration was 30 Year, with 610 originations. The 2nd most popular length was Other, with 140 originations.
Origination Fees/Closing Costs
Bank Of Springfield's average total fees were $2,951, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 581 originations.
Interest Rates
During 2022, Bank Of Springfield's average interest rate for loans was 5.06%, while their most frequently originated rate bucket for loans was 5-6%, with 275 originations.
Loan Sizing
2022 saw Bank Of Springfield place emphasis on $100k-200k loans with 364 originations, totaling $52,340,000 in origination value.
Applicant Income
Bank Of Springfield lent most frequently to those with incomes in the $100k-150k range, with 206 originations. The second most popular income band? $150k-250k, with 199 originations.
Applicant Debt to Income Ratio
Bank Of Springfield lent most frequently to those with DTI ratios of 20-30%, with 232 originations. The next most common DTI ratio? 30-36%, with 151 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.33%
Bank Of Springfield has an average approval rate.
Pick Rate
Approvals leading to origination82.16%
Bank Of Springfield has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,054 | $239,490,000 | $227,220 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF AMERICA, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 20.0% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Trouble during payment process | 7 | 46.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | FHA mortgage | Struggling to pay mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 6.7% |