The First National Bank Of Raymond Mortgage Rates, Fees & Info
Raymond, ILLEI: 549300ZK7EAZ7CRGCU94
Tax ID: 37-0274800
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Mortgage Data
Review & Overview
The First National Bank Of Raymond is a smaller bank specializing in Home Purchase and Refi loans. The First National Bank Of Raymond has a high proportion of conventional loans. Their top markets by origination volume include: Taylorville, St. Louis, Springfield, and Mount Vernon among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)The First National Bank Of Raymond 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. The First National Bank Of Raymond 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.
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Originations
37Origination Dollar Volume (All Markets)
$2,365,000Relative Rate
The First National Bank Of Raymond's average 30 year fixed mortgage rate was
6%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.48%.
Relative Fees (Closing Costs)
The First National Bank Of Raymond's average total fees/closing costs for a 30 year fixed rate
mortgage were $523.
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 |
|---|---|---|---|---|---|
| Taylorville, IL (FHA|USDA|VA) | 13 | $925,000 | $71,154 | $655 | 7.10% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 12 | $830,000 | $69,167 | $1,191 | 7.12% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 6 | $410,000 | $68,333 | $716 | 7.03% |
| Outside of Metro Areas | 5 | $175,000 | $35,000 | $704 | 7.30% |
| Mount Vernon, IL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $366 | 8.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 37 | $2,365,000 | $63,919 | $867 | 7.15% |
For 2023, The First National Bank Of Raymond's most frequently originated type of loan was Conventional, with 37 originations.
Loan Reason
For 2023, The First National Bank Of Raymond's most frequently cited loan purpose was Home Purchase, with 17 originations. The 2nd most popular reason was Refi, with 11 originations.
Loan Duration/Length
For 2023, The First National Bank Of Raymond's most frequently cited loan duration was Other, with 24 originations. The 2nd most popular length was 3 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 26 | $1,890,000 | $72,692 |
The First National Bank Of Raymond's average total fees were $523, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 26 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 17 | $945,000 | $55,588 |
| 6-7% | 16 | $1,230,000 | $76,875 |
| 5-6% | 2 | $140,000 | $70,000 |
| Over 8% | 2 | $50,000 | $25,000 |
During 2023, The First National Bank Of Raymond's average interest rate for loans was 6.00%, while their most frequently originated rate bucket for loans was 7-8%, with 17 originations.
Loan Sizing
2023 saw The First National Bank Of Raymond place emphasis on $100,000 or less loans with 30 originations, totaling $1,200,000 in origination value.
Applicant Income
The First National Bank Of Raymond lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $50k or less, with 8 originations.
Applicant Debt to Income Ratio
The First National Bank Of Raymond lent most frequently to those with DTI ratios of 30-36%, with 10 originations. The next most common DTI ratio? <20%, with 8 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 37 | $2,365,000 | $63,919 | $867 | 7.15% |
Approval Rates
Total approvals of all applications92.68%
The First National Bank Of Raymond has an average approval rate.
Pick Rate
Approvals leading to origination97.30%
The First National Bank Of Raymond 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 |
|---|---|---|---|
| NA | 37 | $2,365,000 | $63,919 |