Heartland Mortgage Rates, Fees & Info

Springfield, IL

LEI: 549300YPQDQJM78AYS70

Tax ID: 37-0665733

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Mortgage Data

Review & Overview

Heartland is a smaller mortgage company specializing in Home Purchase and Refi loans. Heartland has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, St. Louis, Taylorville, Indianapolis, and Denver among others. We have data for 14 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 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.

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% 12/16/24
30 Year Conventional Refi 6.33% 12/16/24
30 Year Cash-out Refi 6.46% 12/16/24
15 Year Conventional Purchase 6.24% 12/16/24
15 Year Conventional Refi 5.84% 12/16/24
15 Year Cash-out Refi 5.84% 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.

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

371

Origination Dollar Volume (All Markets)

$42,555,000

Awards

HEARTLAND 30 Year Conventional Loans gold HEARTLAND 30 Year Conventional Loans bronze HEARTLAND 30 Year Conventional Loans bronze
Show all (3) awards

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) 329 $37,495,000 $113,967 $1,742 4.09%
ST. LOUIS, MO-IL (FHA|USDA|VA) 9 $1,485,000 $165,000 $2,173 3.78%
Outside of Metro Areas 9 $875,000 $97,222 $1,764 4.25%
Taylorville, IL (FHA|USDA|VA) 8 $660,000 $82,500 $1,834 4.05%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $420,000 $210,000 $2,174 4.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $365,000 $365,000 $3,451 3.50%
Jacksonville, IL (FHA|USDA|VA) 5 $285,000 $57,000 $1,926 5.28%
PEORIA, IL (FHA|USDA|VA) 2 $230,000 $115,000 $1,925 3.94%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $175,000 $175,000 $1,747 3.00%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $165,000 $165,000 $2,318 3.00%
Lincoln, IL (FHA|USDA|VA) 1 $145,000 $145,000 $1,816 3.88%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $115,000 $115,000 $2,317 2.88%
DECATUR, IL (FHA|USDA|VA) 1 $105,000 $105,000 $2,186 4.38%
Ottawa, IL (FHA|USDA|VA) 1 $35,000 $35,000 $2,506 4.13%
Heartland's top markets include Springfield, St. Louis, Taylorville, Indianapolis, and Denver among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Colorado (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.

    HEARTLAND
    Similarity Rank: 182
    Prairie State Bank and Trust
    Similarity Rank: 184
    Petefish, Skiles & Co.
    Similarity Rank: 315
    CNB Bank And Trust, N.A.
    Similarity Rank: 340
    Carrollton Bank
    Similarity Rank: 682
    United Community Bank
    Similarity Rank: 882
    Marine Bank
    Similarity Rank: 1222
    INB
    Similarity Rank: 1296

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 371 $42,555,000 $114,704 $1,778 4.09%

    For 2019, Heartland's most frequently originated type of loan was Conventional, with 371 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 174 $23,480,000 $134,943 $1,946 3.97%
    Refi 111 $12,155,000 $109,505 $1,502 4.02%
    Cash Out Refi 46 $5,370,000 $116,739 $1,638 3.98%
    Home Improvement 40 $1,550,000 $38,750 $0 4.94%

    For 2019, Heartland's most frequently cited loan purpose was Home Purchase, with 174 originations. The 2nd most popular reason was Refi, with 111 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 197 $28,035,000 $142,310 $1,879 3.99%
    15 Year 52 $6,470,000 $124,423 $1,621 3.30%
    10 Year 40 $2,690,000 $67,250 $1,421 4.31%
    5 Year 35 $965,000 $27,571 $1,533 5.04%
    20 Year 28 $3,830,000 $136,786 $1,603 3.75%
    Other 19 $565,000 $29,737 $0 5.61%

    For 2019, Heartland's most frequently cited loan duration was 30 Year, with 197 originations. The 2nd most popular length was 15 Year, with 52 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 291 $39,145,000 $134,519
    $1k-2k 4 $700,000 $175,000

    Heartland's average total fees were $1,879, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 291 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 201 $25,575,000 $127,239
    4-5% 105 $12,145,000 $115,667
    2.5-3% 24 $3,460,000 $144,167
    5-6% 21 $925,000 $44,048
    6-7% 19 $425,000 $22,368
    7-8% 1 $25,000 $25,000

    During 2019, Heartland's average interest rate for loans was 3.99%, while their most frequently originated rate bucket for loans was 3-4%, with 201 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 188 $10,210,000 $54,309 $1,693 4.39%
    $100k-200k 125 $17,335,000 $138,680 $1,766 3.76%
    $200k-400k 57 $14,585,000 $255,877 $1,949 3.83%
    $400k-600k 1 $425,000 $425,000 $3,044 3.63%

    2019 saw Heartland place emphasis on $100,000 or less loans with 188 originations, totaling $10,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 96 $9,390,000 $97,813 $1,798 4.07%
    $100k-150k 83 $11,115,000 $133,916 $1,836 4.14%
    $75k-100k 83 $9,015,000 $108,614 $1,717 4.13%
    $50k or less 61 $4,735,000 $77,623 $1,709 4.02%
    $150k-250k 38 $6,750,000 $177,632 $1,868 4.16%
    $250k+ 3 $755,000 $251,667 $1,779 3.29%

    Heartland lent most frequently to those with incomes in the $50k-75k range, with 96 originations. The second most popular income band? $100k-150k, with 83 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 105 $12,285,000 $117,000 $1,740 4.12%
    30-36% 78 $9,500,000 $121,795 $1,763 4.03%
    <20% 59 $4,705,000 $79,746 $1,670 4.11%
    37% 16 $1,620,000 $101,250 $1,836 4.18%
    39% 14 $1,460,000 $104,286 $1,833 4.00%
    36% 12 $1,990,000 $165,833 $1,971 4.00%
    40% 12 $1,430,000 $119,167 $1,726 4.26%
    42% 11 $1,475,000 $134,091 $1,910 3.92%
    38% 11 $1,465,000 $133,182 $1,900 3.95%
    46% 8 $970,000 $121,250 $1,822 3.95%
    43% 7 $905,000 $129,286 $1,806 3.98%
    44% 7 $1,135,000 $162,143 $1,959 3.75%
    41% 7 $905,000 $129,286 $1,636 4.32%
    47% 7 $835,000 $119,286 $1,705 3.93%
    45% 5 $455,000 $91,000 $2,048 4.33%
    48% 4 $740,000 $185,000 $2,151 3.78%
    >60% 1 $185,000 $185,000 $1,055 4.00%
    49% 1 $225,000 $225,000 $0 4.75%
    50-60% 1 $65,000 $65,000 $0 5.00%

    Heartland lent most frequently to those with DTI ratios of 20-30%, with 105 originations. The next most common DTI ratio? 30-36%, with 78 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 363 $41,735,000 $114,972 $1,779 4.09%
    Asian 3 $555,000 $185,000 $1,639 3.71%
    Black 5 $265,000 $53,000 $1,802 4.65%

    Approval Rates

    Total approvals of all applications
    93.71%

    Heartland has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.64%

    Heartland has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 371 $42,555,000 $114,704

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 371 $42,555,000 $114,704

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $1,225,000 $39,516 $1,536 4.40%
    40-60% 35 $3,175,000 $90,714 $1,577 3.80%
    60-80% 113 $14,995,000 $132,699 $1,694 3.75%
    80-100% 151 $22,195,000 $146,987 $1,901 3.94%
    Under 20% 39 $915,000 $23,462 $609 5.54%