State Bank Of Bement Mortgage Rates, Fees & Info

Bement, IL

LEI: 549300XPRIVI6I4YR959

Tax ID: 37-0532600

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    State Bank Of Bement is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. State Bank Of Bement has a high proportion of conventional loans. Their top two markets are Champaign and Decatur .

    State Bank Of Bement has an above average approval rate when compared to the average across all lenders.

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    Originations

    40

    Origination Dollar Volume (All Markets)

    $5,390,000

    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) 35 $4,895,000 $139,857 $0 0.00%
    DECATUR, IL (FHA|USDA|VA) 3 $365,000 $121,667 $0 0.00%
    Outside of Metro Areas 2 $130,000 $65,000 $0 0.00%
    State Bank Of Bement's top markets include Champaign and Decatur among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 40 $5,390,000 $134,750 $0 0.00%

    For 2019, State Bank Of Bement's most frequently originated type of loan was Conventional, with 40 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 16 $2,440,000 $152,500 $0 0.00%
    Cash Out Refi 13 $1,605,000 $123,462 $0 0.00%
    Refi 7 $1,105,000 $157,857 $0 0.00%
    Other 4 $240,000 $60,000 $0 0.00%

    For 2019, State Bank Of Bement's most frequently cited loan purpose was Home Purchase, with 16 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 40 $5,390,000 $134,750 $0 0.00%

    For 2019, State Bank Of Bement's most frequently cited loan duration was Other, with 40 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 21 $1,235,000 $58,810 $0 0.00%
    $100k-200k 10 $1,360,000 $136,000 $0 0.00%
    $200k-400k 8 $2,310,000 $288,750 $0 0.00%
    $400k-600k 1 $485,000 $485,000 $0 0.00%

    2019 saw State Bank Of Bement place emphasis on $100,000 or less loans with 21 originations, totaling $1,235,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 11 $585,000 $53,182 $0 0.00%
    $100k-150k 8 $1,390,000 $173,750 $0 0.00%
    $75k-100k 8 $970,000 $121,250 $0 0.00%
    $50k-75k 7 $755,000 $107,857 $0 0.00%
    $250k+ 4 $1,180,000 $295,000 $0 0.00%
    $150k-250k 1 $395,000 $395,000 $0 0.00%

    State Bank Of Bement lent most frequently to those with incomes in the $50k or less range, with 11 originations. The second most popular income band? $100k-150k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 40 $5,390,000 $134,750 $0 0.00%

    State Bank Of Bement lent most frequently to those with DTI ratios of Exempt%, with 40 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 38 $5,270,000 $138,684 $0 0.00%
    Not provided 2 $120,000 $60,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.24%

    State Bank Of Bement 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 40 $5,390,000 $134,750

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $55,000 $55,000
    Single Family (1-4 Units):Site-Built 39 $5,335,000 $136,795

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    STATE FARM BANK, FSB Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 16.7%
    STATE FARM BANK, FSB Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Struggling to pay mortgage 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Trouble during payment process 5 41.7%
    STATE FARM BANK, FSB Home equity loan or line of credit (HELOC) Trouble during payment process 2 16.7%
    STATE FARM BANK, FSB VA mortgage Trouble during payment process 1 8.3%