Heartland Mortgage Rates, Fees & Info

Springfield, IL

LEI: 549300YPQDQJM78AYS70

Tax ID: 37-0665733

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    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, Jacksonville, St. Louis, Chicago, and Taylorville among others. We have data for 12 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% 12/29/24
    30 Year Conventional Refi 6.33% 12/29/24
    30 Year Cash-out Refi 6.46% 12/29/24
    15 Year Conventional Purchase 6.24% 12/29/24
    15 Year Conventional Refi 5.84% 12/29/24
    15 Year Cash-out Refi 5.84% 12/29/24
    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

    265

    Origination Dollar Volume (All Markets)

    $32,155,000

    Awards

    HEARTLAND 30 Year Conventional Loans bronze HEARTLAND 30 Year Conventional Loans gold HEARTLAND 30 Year Conventional Loans silver
    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) 225 $27,645,000 $122,867 $1,534 4.55%
    Jacksonville, IL (FHA|USDA|VA) 7 $995,000 $142,143 $1,618 5.66%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 6 $780,000 $130,000 $1,748 4.46%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $625,000 $208,333 $4,711 4.58%
    Taylorville, IL (FHA|USDA|VA) 6 $470,000 $78,333 $1,767 5.04%
    Outside of Metro Areas 6 $450,000 $75,000 $920 3.98%
    Lincoln, IL (FHA|USDA|VA) 7 $355,000 $50,714 $1,049 4.66%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $245,000 $245,000 $3,075 4.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $225,000 $225,000 $2,125 2.88%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $165,000 $165,000 $2,160 5.38%
    CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $155,000 $155,000 $3,133 3.88%
    Quincy, IL-MO (FHA|USDA|VA) 1 $45,000 $45,000 $1,530 2.63%
    Heartland's top markets include Springfield, Jacksonville, St. Louis, Chicago, and Taylorville among others.

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

    Alliance Community Bank
    Similarity Rank: 45
    HEARTLAND
    Similarity Rank: 108
    Prairie State Bank and Trust
    Similarity Rank: 396
    Hickory Point Bank and Trust
    Similarity Rank: 450
    Marine Bank
    Similarity Rank: 532
    Petefish, Skiles & Co.
    Similarity Rank: 806
    United Community Bank
    Similarity Rank: 900
    Carrollton Bank
    Similarity Rank: 1125
    Town & Country Banc Mortgage Services
    Similarity Rank: 1147
    CITIZENS EQUITY FIRST
    Similarity Rank: 1308

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 265 $32,155,000 $121,340 $1,572 4.56%

    For 2022, Heartland's most frequently originated type of loan was Conventional, with 265 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 153 $21,925,000 $143,301 $2,045 4.81%
    Cash Out Refi 65 $6,345,000 $97,615 $1,045 4.33%
    Refi 33 $3,415,000 $103,485 $1,112 3.63%
    Home Improvement 13 $455,000 $35,000 $71 5.19%
    Other 1 $15,000 $15,000 $0 4.50%

    For 2022, Heartland's most frequently cited loan purpose was Home Purchase, with 153 originations. The 2nd most popular reason was Cash Out Refi, with 65 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 155 $23,285,000 $150,226 $1,976 4.87%
    15 Year 37 $4,505,000 $121,757 $1,748 3.42%
    10 Year 32 $2,400,000 $75,000 $1,018 4.02%
    5 Year 24 $770,000 $32,083 $0 4.98%
    Other 9 $435,000 $48,333 $53 5.06%
    20 Year 8 $760,000 $95,000 $1,774 4.20%

    For 2022, Heartland's most frequently cited loan duration was 30 Year, with 155 originations. The 2nd most popular length was 15 Year, with 37 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 252 $29,750,000 $118,056
    $1k-2k 12 $2,110,000 $175,833
    $3k-4k 1 $295,000 $295,000

    Heartland's average total fees were $1,976, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 252 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 65 $8,035,000 $123,615
    3-4% 60 $8,400,000 $140,000
    4-5% 58 $6,380,000 $110,000
    6-7% 35 $3,925,000 $112,143
    2.5-3% 26 $3,470,000 $133,462
    <2.5% 19 $1,845,000 $97,105
    7-8% 1 $55,000 $55,000
    Over 8% 1 $45,000 $45,000

    During 2022, Heartland's average interest rate for loans was 4.87%, while their most frequently originated rate bucket for loans was 5-6%, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 128 $7,270,000 $56,797 $1,137 4.65%
    $100k-200k 97 $13,665,000 $140,876 $1,892 4.43%
    $200k-400k 38 $10,320,000 $271,579 $2,165 4.65%
    $400k-600k 2 $900,000 $450,000 $2,097 3.56%

    2022 saw Heartland place emphasis on $100,000 or less loans with 128 originations, totaling $7,270,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 63 $9,815,000 $155,794 $1,782 4.81%
    $50k-75k 60 $6,840,000 $114,000 $1,646 4.41%
    $50k or less 55 $4,005,000 $72,818 $1,635 4.39%
    $75k-100k 38 $4,820,000 $126,842 $1,640 4.36%
    $150k-250k 23 $4,445,000 $193,261 $1,886 4.46%
    $250k+ 4 $570,000 $142,500 $1,032 5.31%

    Heartland lent most frequently to those with incomes in the $100k-150k range, with 63 originations. The second most popular income band? $50k-75k, with 60 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 73 $7,875,000 $107,877 $1,646 4.45%
    30-36% 61 $9,075,000 $148,770 $1,803 4.58%
    <20% 29 $3,115,000 $107,414 $1,492 3.94%
    42% 10 $1,520,000 $152,000 $2,214 5.09%
    37% 10 $1,760,000 $176,000 $2,320 3.94%
    44% 8 $1,220,000 $152,500 $1,799 5.25%
    36% 7 $1,065,000 $152,143 $1,955 4.82%
    43% 6 $690,000 $115,000 $1,801 3.92%
    45% 6 $830,000 $138,333 $1,788 3.56%
    41% 6 $1,010,000 $168,333 $2,063 5.10%
    38% 5 $885,000 $177,000 $2,367 4.88%
    40% 4 $460,000 $115,000 $1,400 5.50%
    39% 3 $345,000 $115,000 $1,492 4.25%
    49% 3 $585,000 $195,000 $2,344 4.50%
    50-60% 2 $150,000 $75,000 $687 5.00%
    47% 1 $45,000 $45,000 $1,709 6.63%
    46% 1 $85,000 $85,000 $1,986 4.88%
    48% 1 $125,000 $125,000 $2,201 4.63%

    Heartland lent most frequently to those with DTI ratios of 20-30%, with 73 originations. The next most common DTI ratio? 30-36%, with 61 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 240 $29,280,000 $122,000 $1,578 4.61%
    Black 12 $1,340,000 $111,667 $1,858 3.84%
    Not provided 9 $1,105,000 $122,778 $1,207 4.49%
    Asian Indian 2 $270,000 $135,000 $1,696 3.13%
    Asian 2 $160,000 $80,000 $802 4.44%

    Approval Rates

    Total approvals of all applications
    94.00%

    Heartland has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.58%

    Heartland has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 265 $32,155,000 $121,340

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    265 $32,155,000 $121,340

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $925,000 $61,667 $1,459 4.00%
    40-60% 38 $4,120,000 $108,421 $1,631 4.07%
    60-80% 63 $8,335,000 $132,302 $1,768 4.09%
    80-100% 109 $17,175,000 $157,569 $2,025 4.81%
    Under 20% 11 $285,000 $25,909 $65 5.70%