Heartland Bank Mortgage Rates, Fees & Info

Whitehall, OH

LEI: 549300Y7OEG60MGTKK54

Tax ID: 31-4159950

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Mortgage Data

Bank Data

Review & Overview

Heartland Bank is a smaller bank specializing in Home Purchase loans. Heartland Bank has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Norwich, Mount Vernon, Miami, and Ashland among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

Heartland 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 4.79% 3/28/24
30 Year Conventional Purchase 6.71% 3/28/24
30 Year Conventional Refi 6.59% 3/28/24
30 Year Cash-out Refi 6.88% 3/28/24
30 Year FHA Purchase 6.65% 3/28/24
30 Year FHA Refi 6.27% 3/28/24
30 Year VA Purchase 6.29% 3/28/24
30 Year VA Refi 6.27% 3/28/24
30 Year USDA Purchase 6.19% 3/28/24
15 Year Conventional Purchase 5.88% 3/28/24
15 Year Conventional Refi 5.96% 3/28/24
15 Year Cash-out Refi 5.96% 3/28/24
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.

Heartland Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Heartland Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

226

Origination Dollar Volume (All Markets)

$56,950,000

Employee count

201

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
COLUMBUS, OH (FHA|USDA|VA) 196 $48,680,000 $248,367 $0 0.00%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $2,205,000 $2,205,000 $0 0.00%
Mount Vernon, OH (FHA|USDA|VA) 7 $915,000 $130,714 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $690,000 $345,000 $0 0.00%
Ashland, OH (FHA|USDA|VA) 1 $595,000 $595,000 $0 0.00%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 4 $460,000 $115,000 $0 0.00%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
Key West, FL (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
Coshocton, OH (FHA|USDA|VA) 2 $320,000 $160,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
Wooster, OH (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
Bellefontaine, OH (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
Oneonta, NY (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
Sandusky, OH (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
MANSFIELD, OH (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Outside of Metro Areas 1 $105,000 $105,000 $0 0.00%
Chillicothe, OH (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Heartland Bank's top markets include Columbus, Norwich, Mount Vernon, Miami, and Ashland among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Heartland Bank 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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 226 $56,950,000 $251,991 $0 0.00%

    For 2018, Heartland Bank's most frequently originated type of loan was Conventional, with 226 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 110 $36,490,000 $331,727 $0 0.00%
    Refi 60 $10,910,000 $181,833 $0 0.00%
    Cash Out Refi 33 $7,165,000 $217,121 $0 0.00%
    Home Improvement 12 $1,160,000 $96,667 $0 0.00%
    Other 11 $1,225,000 $111,364 $0 0.00%

    For 2018, Heartland Bank's most frequently cited loan purpose was Home Purchase, with 110 originations. The 2nd most popular reason was Refi, with 60 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 226 $56,950,000 $251,991 $0 0.00%

    For 2018, Heartland Bank's most frequently cited loan duration was Other, with 226 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 70 $9,910,000 $141,571 $0 0.00%
    $100,000 or less 62 $3,470,000 $55,968 $0 0.00%
    $200k-400k 60 $17,080,000 $284,667 $0 0.00%
    $400k-600k 21 $10,045,000 $478,333 $0 0.00%
    $600k-1MM 9 $6,895,000 $766,111 $0 0.00%
    $1MM+ 4 $9,550,000 $2,387,500 $0 0.00%

    2018 saw Heartland Bank place emphasis on $100k-200k loans with 70 originations, totaling $9,910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 49 $9,255,000 $188,878 $0 0.00%
    $250k+ 43 $16,125,000 $375,000 $0 0.00%
    $150k-250k 30 $9,320,000 $310,667 $0 0.00%
    $50k-75k 30 $3,480,000 $116,000 $0 0.00%
    $75k-100k 25 $3,065,000 $122,600 $0 0.00%
    $50k or less 22 $1,550,000 $70,455 $0 0.00%

    Heartland Bank lent most frequently to those with incomes in the $100k-150k range, with 49 originations. The second most popular income band? $250k+, with 43 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 226 $56,950,000 $251,991 $0 0.00%

    Heartland Bank lent most frequently to those with DTI ratios of Exempt%, with 226 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 176 $38,530,000 $218,920 $0 0.00%
    Not applicable 12 $10,910,000 $909,167 $0 0.00%
    Not provided 21 $4,095,000 $195,000 $0 0.00%
    Black 11 $1,725,000 $156,818 $0 0.00%
    Asian 5 $1,565,000 $313,000 $0 0.00%
    American Indian 1 $125,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.58%

    Heartland Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.51%

    Heartland Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 226 $56,950,000 $251,991

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $9,865,000 $1,409,286
    Single Family (1-4 Units):Manufactured 1 $25,000 $25,000
    Single Family (1-4 Units):Site-Built 218 $47,060,000 $215,872

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Heartland Bank 101 South High Street Columbus, OH 43215 Full Service B&M $33,419
    Heartland Bank 12 North Main Street Croton, OH 43013 Full Service B&M $18,366
    Heartland Bank 130 North Wilson Road Columbus, OH 43204 Full Service B&M $42,856
    Heartland Bank 165 Highbluffs Blvd Columbus, OH 43235 Limited, Mobile/Seasonal Office $7,547
    Heartland Bank 2365 Old Stringtown Rd Grove City, OH 43123 Full Service B&M $89,298
    Heartland Bank 3971 Main St Hilliard, OH 43026 Full Service B&M $29,276
    Heartland Bank 421 Hill Road North Pickerington, OH 43147 Full Service B&M $26,626
    Heartland Bank 430 North Hamilton Road Whitehall, OH 43213 Full Service B&M $1,744
    Heartland Bank 44 West Locust Street Newark, OH 43055 Full Service B&M $58,812
    Heartland Bank 4476 North High Street Columbus, OH 43214 Full Service B&M $11,553
    Heartland Bank 450 South State Street Westerville, OH 43081 Full Service B&M $76,458
    Heartland Bank 5800 Forest Hills Blvd Columbus, OH 43231 Limited, Mobile/Seasonal Office $2,535
    Heartland Bank 6000 Riverside Drive Dublin, OH 43017 Limited, Mobile/Seasonal Office $15,750
    Heartland Bank 6500 Frantz Road Dublin, OH 43017 Full Service B&M $97,539
    Heartland Bank 67 North Stygler Road Gahanna, OH 43230 Full Service B&M $36,035
    Heartland Bank 6887 East Main Stret Reynoldsburg, OH 43068 Full Service B&M $143,371
    Heartland Bank 730 West Coshocton St Johnstown, OH 43031 Full Service B&M $49,913
    Heartland Bank 850 North Hamilton Road Gahanna, OH 43230 Full Service B&M $106,632

    For 2018, Heartland Bank had 18 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $43,075
    Net interest income $35,905
    Total noninterest income $5,302
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,094
    Trading account gains and fees $0
    Additional Noninterest Income $4,208
    Pre-tax net operating income $14,909
    Securities gains (or losses, -) $-64
    Income before extraordinary items $12,111
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,111
    Minority interest net income $0
    Net income $12,111
    Sale, conversion, retirement of capital stock, net $423
    Net operating income $12,163

    Heartland Bank's gross interest income from loans was $43,075,000.
    Heartland Bank's net interest income from loans was $35,905,000.
    Heartland Bank's fee based income from loans was $1,094,000.
    Heartland Bank's net income from loans was $12,111,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,170
    Provision for credit losses $1,500
    Total noninterest expense $24,798
    Salaries and employee benefits $14,488
    Premises and equipment expense $3,327
    Additional noninterest expense $6,983
    Applicable income taxes $2,734
    Net charge-offs $178
    Cash dividends $3,859

    Heartland Bank's interest expense for loans was $7,170,000.
    Heartland Bank's payroll and benefits expense were $14,488,000.
    Heartland Bank's property, plant and equipment expenses $3,327,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $889,340
    Deposits held in domestic offices $889,340
    Deposits by Individuals, partnerships, and corporations $805,858
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $83,482
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $70,567
    Demand deposits $40,763
    Nontransaction accounts $818,773
    Money market deposit accounts (MMDAs) $158,695
    Other savings deposits (excluding MMDAs) $333,821
    Total time deposits $326,258
    Total time and savings deposits $848,577
    Noninterest-bearing deposits $234,799
    Interest-bearing deposits $654,541
    Retail deposits $812,104
    IRAs and Keogh plan accounts $31,636
    Brokered deposits $4,036
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,045,174
    Cash & Balances due from depository institutions $29,604
    Interest-bearing balances $16,454
    Total securities $142,121
    Federal funds sold & reverse repurchase $0
    Net loans and leases $816,752
    Loan and leases loss allowance $7,547
    Trading account assets $0
    Bank premises and fixed assets $28,481
    Other real estate owned $0
    Goodwill and other intangibles $147
    All other assets $28,069

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,045,174
    Total Liabilities $932,875
    Total deposits $889,340
    Interest-bearing deposits $654,541
    Deposits held in domestic offices $889,340
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $19,383
    Trading liabilities $0
    Other borrowed funds $20,000
    Subordinated debt $0
    All other liabilities $4,152

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $816,752
    Loan and leases loss allowance $7,547
    Total loans and leases (domestic) $824,299
    All real estate loans $701,683
    Real estate loans in domestic offices $701,683
    Construction and development loans $69,055
    Residential 1-4 family construction $24,484
    Other construction, all land development and other land $44,571
    Loans secured by nonfarm nonresidential properties $352,062
    Nonfarm nonresidential secured by owner-occupied properties $189,221
    Commercial real estate & other non-farm, non-residential $162,841
    Multifamily residential real estate $40,693
    1-4 family residential loans $211,538
    Farmland loans $28,335
    Loans held in foreign offices $0
    Farm loans $21,321
    Commercial and industrial loans $78,598
    To non-U.S. addressees $0
    Loans to individuals $9,779
    Credit card loans $3,488
    Related Plans $24
    Consumer Auto Loans $3,103
    Other loans to individuals $3,164
    All other loans & leases $12,918
    Loans to foreign governments and official institutions $0
    Other loans $1,946
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $293
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Heartland Bank had $816,752,000 of loans outstanding in 2018. $701,683,000 of loans were in real estate loans. $69,055,000 of loans were in development loans. $40,693,000 of loans were in multifamily mortgage loans. $211,538,000 of loans were in 1-4 family mortgage loans. $21,321,000 of loans were in farm loans. $3,488,000 of loans were in credit card loans. $3,103,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 434 $137,434 $316,668
    Nonfarm, nonresidential loans - <$100k 61 $3,488 $57,180
    Nonfarm, nonresidential loans - $100-250k 143 $20,085 $140,455
    Nonfarm, nonresidential loans - $250k-1MM 230 $113,861 $495,048
    Commercial & Industrial, US addressed loans - <$1MM 452 $53,076 $117,425
    Commercial & Industrial, US addressed loans - <$100k 239 $6,952 $29,088
    Commercial & Industrial, US addressed loans - $100-250k 110 $10,790 $98,091
    Commercial & Industrial, US addressed loans - $250k-1MM 103 $35,334 $343,049
    Farmland loans - <$1MM 77 $6,095 $79,156
    Farmland loans - <$100k 14 $479 $34,214
    Farmland loans - $100-250k 31 $1,668 $53,806
    Farmland loans - $250k-1MM 32 $3,948 $123,375
    Agriculture operations loans - <$1MM 94 $10,090 $107,340
    Agriculture operations loans - <$100k 58 $1,988 $34,276
    Agriculture operations loans - $100-250k 19 $2,884 $151,789
    Agriculture operations loans - $250k-1MM 17 $5,218 $306,941