Bank Of O'fallon Mortgage Rates, Fees & Info

O'Fallon, IL

LEI: 549300ZJ52ZRS3Q0S589

Tax ID: 37-0795749

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

Jump to:

Mortgage Data

Review & Overview

Bank Of O'fallon is a smaller bank specializing in Home Purchase loans. Bank Of O'fallon has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Cape Coral, and Springfield among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bank Of O'fallon 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.

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.


Originations

109

Origination Dollar Volume (All Markets)

$21,725,000

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
ST. LOUIS, MO-IL (FHA|USDA|VA) 100 $18,940,000 $189,400 $0 0.00%
Outside of Metro Areas 6 $2,160,000 $360,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $570,000 $285,000 $0 0.00%
SPRINGFIELD, IL (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Bank Of O'fallon's top markets include St. Louis, Cape Coral, and Springfield among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 109 $21,725,000 $199,312 $0 0.00%

    For 2023, Bank Of O'fallon's most frequently originated type of loan was Conventional, with 109 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 79 $18,505,000 $234,241 $0 0.00%
    Home Improvement 10 $930,000 $93,000 $0 0.00%
    Other 8 $700,000 $87,500 $0 0.00%
    Cash Out Refi 7 $1,045,000 $149,286 $0 0.00%
    Refi 5 $545,000 $109,000 $0 0.00%

    For 2023, Bank Of O'fallon's most frequently cited loan purpose was Home Purchase, with 79 originations. The 2nd most popular reason was Home Improvement, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 109 $21,725,000 $199,312 $0 0.00%

    For 2023, Bank Of O'fallon's most frequently cited loan duration was Other, with 109 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 40 $5,760,000 $144,000 $0 0.00%
    $100,000 or less 33 $1,915,000 $58,030 $0 0.00%
    $200k-400k 27 $7,915,000 $293,148 $0 0.00%
    $400k-600k 5 $2,185,000 $437,000 $0 0.00%
    $1MM+ 2 $2,270,000 $1,135,000 $0 0.00%
    $600k-1MM 2 $1,680,000 $840,000 $0 0.00%

    2023 saw Bank Of O'fallon place emphasis on $100k-200k loans with 40 originations, totaling $5,760,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 21 $4,635,000 $220,714 $0 0.00%
    $75k-100k 20 $2,830,000 $141,500 $0 0.00%
    $50k-75k 13 $1,305,000 $100,385 $0 0.00%
    $100k-150k 10 $1,850,000 $185,000 $0 0.00%
    $250k+ 7 $4,185,000 $597,857 $0 0.00%
    $50k or less 7 $575,000 $82,143 $0 0.00%

    Bank Of O'fallon lent most frequently to those with incomes in the $150k-250k range, with 21 originations. The second most popular income band? $75k-100k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 109 $21,725,000 $199,312 $0 0.00%

    Bank Of O'fallon lent most frequently to those with DTI ratios of Exempt%, with 109 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 74 $14,910,000 $201,486 $0 0.00%
    Not applicable 29 $5,925,000 $204,310 $0 0.00%
    Not provided 1 $435,000 $435,000 $0 0.00%
    Native Hawaiian or Islander 1 $315,000 $315,000 $0 0.00%
    Black 2 $70,000 $35,000 $0 0.00%
    American Indian 1 $45,000 $45,000 $0 0.00%
    Asian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Bank Of O'fallon 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
    97.25%

    Bank Of O'fallon has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 109 $21,725,000 $199,312

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    109 $21,725,000 $199,312