Heartland Mortgage Rates, Fees & Info

Springfield, IL

LEI: 549300YPQDQJM78AYS70

Tax ID: 37-0665733

5 stars - Updated: 3/28/24 - out of 5 stars, based on 13 reviews

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

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Mortgage Data

Review & Overview

Heartland is a smaller mortgage company specializing in Home Purchase loans. Heartland has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, St. Louis, Jacksonville, Bloomington, and Champaign among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

Heartland has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Heartland 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.

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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.38% 3/28/24
30 Year Conventional Refi 6.33% 3/28/24
30 Year Cash-out Refi 6.46% 3/28/24
15 Year Conventional Purchase 6.24% 3/28/24
15 Year Conventional Refi 5.84% 3/28/24
15 Year Cash-out Refi 5.84% 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 Mortgage Calculator






Your Estimates

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

This is not an official calculator from Heartland. 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

158

Origination Dollar Volume (All Markets)

$20,850,000

Awards

HEARTLAND 30 Year Conventional Loans gold HEARTLAND 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Heartland's average 30 year fixed mortgage rate was 6.46%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.02%.

Relative Fees (Closing Costs)

Heartland's average total fees/closing costs for a 30 year fixed rate mortgage were $2,024.

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
SPRINGFIELD, IL (FHA|USDA|VA) 133 $16,865,000 $126,805 $1,749 6.50%
ST. LOUIS, MO-IL (FHA|USDA|VA) 5 $1,085,000 $217,000 $2,153 6.40%
Outside of Metro Areas 5 $635,000 $127,000 $2,102 6.53%
Jacksonville, IL (FHA|USDA|VA) 4 $480,000 $120,000 $2,067 6.34%
BLOOMINGTON, IL (FHA|USDA|VA) 1 $445,000 $445,000 $3,137 8.25%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 2 $250,000 $125,000 $1,343 6.13%
IOWA CITY, IA (FHA|USDA|VA) 1 $215,000 $215,000 $2,367 6.88%
Hannibal, MO (FHA|USDA|VA) 1 $185,000 $185,000 $2,221 6.50%
Lincoln, IL (FHA|USDA|VA) 2 $170,000 $85,000 $2,185 6.44%
PEORIA, IL (FHA|USDA|VA) 1 $155,000 $155,000 $2,684 6.88%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $155,000 $155,000 $1,832 5.63%
Ottawa, IL (FHA|USDA|VA) 1 $115,000 $115,000 $1,684 7.13%
Taylorville, IL (FHA|USDA|VA) 1 $95,000 $95,000 $1,858 6.75%
Heartland's top markets include Springfield, St. Louis, Jacksonville, Bloomington, and Champaign among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against HEARTLAND based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Petefish, Skiles & Co.
    Similarity Rank: 102
    Marine Bank
    Similarity Rank: 114
    HEARTLAND
    Similarity Rank: 117
    Prairie State Bank and Trust
    Similarity Rank: 128
    United Community Bank
    Similarity Rank: 585
    Morton Community Bank
    Similarity Rank: 700
    Carrollton Bank
    Similarity Rank: 728
    Heartland Bank and Trust Company
    Similarity Rank: 774
    Bank of Springfield
    Similarity Rank: 884
    CITIZENS EQUITY FIRST
    Similarity Rank: 1480

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 158 $20,850,000 $131,962 $1,804 6.51%

    For 2023, Heartland's most frequently originated type of loan was Conventional, with 158 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 107 $16,005,000 $149,579 $2,058 6.45%
    Cash Out Refi 38 $2,910,000 $76,579 $1,057 6.70%
    Refi 13 $1,935,000 $148,846 $1,924 6.42%

    For 2023, Heartland's most frequently cited loan purpose was Home Purchase, with 107 originations. The 2nd most popular reason was Cash Out Refi, with 38 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 125 $18,835,000 $150,680 $2,024 6.46%
    10 Year 12 $590,000 $49,167 $481 7.53%
    5 Year 11 $455,000 $41,364 $625 6.33%
    15 Year 8 $880,000 $110,000 $2,159 6.00%
    20 Year 1 $55,000 $55,000 $1,728 5.88%
    Other 1 $35,000 $35,000 $703 6.25%

    For 2023, Heartland's most frequently cited loan duration was 30 Year, with 125 originations. The 2nd most popular length was 10 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 152 $19,340,000 $127,237
    $1k-2k 5 $1,305,000 $261,000
    $2k-3k 1 $205,000 $205,000

    Heartland's average total fees were $2,024, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 152 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 74 $10,550,000 $142,568
    5-6% 47 $5,035,000 $107,128
    7-8% 31 $4,655,000 $150,161
    Over 8% 6 $610,000 $101,667

    During 2023, Heartland's average interest rate for loans was 6.46%, while their most frequently originated rate bucket for loans was 6-7%, with 74 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 79 $11,475,000 $145,253 $1,977 6.37%
    $100,000 or less 60 $3,730,000 $62,167 $1,368 6.54%
    $200k-400k 16 $4,240,000 $265,000 $2,475 6.95%
    $400k-600k 3 $1,405,000 $468,333 $2,456 7.08%

    2023 saw Heartland place emphasis on $100k-200k loans with 79 originations, totaling $11,475,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 41 $4,405,000 $107,439 $1,657 6.48%
    $50k or less 34 $3,310,000 $97,353 $1,870 6.11%
    $100k-150k 32 $5,510,000 $172,188 $2,007 6.59%
    $75k-100k 27 $2,965,000 $109,815 $1,591 6.69%
    $150k-250k 18 $3,130,000 $173,889 $1,913 6.92%
    $250k+ 4 $1,260,000 $315,000 $1,975 6.44%

    Heartland lent most frequently to those with incomes in the $50k-75k range, with 41 originations. The second most popular income band? $50k or less, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 47 $6,185,000 $131,596 $1,787 6.57%
    30-36% 35 $4,615,000 $131,857 $1,859 6.45%
    <20% 22 $2,350,000 $106,818 $1,640 6.44%
    41% 8 $1,040,000 $130,000 $2,070 6.05%
    38% 8 $1,250,000 $156,250 $1,803 6.58%
    37% 7 $775,000 $110,714 $1,859 6.75%
    42% 6 $700,000 $116,667 $1,612 6.71%
    48% 5 $1,195,000 $239,000 $2,017 6.80%
    39% 5 $525,000 $105,000 $1,503 6.70%
    36% 4 $630,000 $157,500 $1,836 6.50%
    40% 3 $525,000 $175,000 $2,612 6.33%
    43% 2 $310,000 $155,000 $1,829 6.13%
    50-60% 2 $150,000 $75,000 $1,277 6.31%
    46% 2 $350,000 $175,000 $1,847 7.00%
    45% 1 $145,000 $145,000 $1,693 6.50%
    44% 1 $105,000 $105,000 $1,971 5.63%

    Heartland lent most frequently to those with DTI ratios of 20-30%, with 47 originations. The next most common DTI ratio? 30-36%, with 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 152 $20,430,000 $134,408 $1,830 6.50%
    Black 4 $240,000 $60,000 $1,159 6.56%
    American Indian 1 $145,000 $145,000 $1,912 6.25%
    Not provided 1 $35,000 $35,000 $397 7.00%

    Approval Rates

    Total approvals of all applications
    92.86%

    Heartland has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.67%

    Heartland has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 158 $20,850,000 $131,962

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    158 $20,850,000 $131,962

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $1,265,000 $74,412 $919 6.71%
    40-60% 19 $2,565,000 $135,000 $1,753 6.38%
    60-80% 45 $6,705,000 $149,000 $1,961 6.51%
    80-100% 69 $10,085,000 $146,159 $2,095 6.37%
    Under 20% 8 $230,000 $28,750 $456 7.53%