Central Bank Illinois Mortgage Rates, Fees & InfoGeneseo, IL
Tax ID: 36-0886040
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewCentral Bank Illinois is a smaller bank specializing in Home Purchase loans. Central Bank Illinois has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ottawa, Chicago, Rockford, and Rochelle among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)
Central Bank Illinois has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Central Bank Illinois 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.60%||9/18/23|
|30 Year Conventional Refi||6.28%||9/18/23|
|30 Year Cash-out Refi||6.49%||9/18/23|
|15 Year Conventional Purchase||6.47%||9/18/23|
|15 Year Conventional Refi||6.21%||9/18/23|
|15 Year Cash-out Refi||6.21%||9/18/23|
|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.|
Central Bank Illinois Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$99,645,000
Central Bank Illinois - 2022
Central Bank Illinois is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Central Bank Illinois's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.35%.
Relative Fees (Closing Costs)
Central Bank Illinois's average total fees/closing costs for a 30 year fixed rate
mortgage were $1,802.
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 $4,750.
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|
|DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA)||1||$21,005,000||$21,005,000||$0||4.38%|
|Ottawa, IL (FHA|USDA|VA)||141||$13,305,000||$94,362||$1,284||5.33%|
|Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA)||15||$13,265,000||$884,333||$3,027||5.23%|
|ROCKFORD, IL (FHA|USDA|VA)||8||$10,290,000||$1,286,250||$2,581||5.67%|
|Rochelle, IL (FHA|USDA|VA)||67||$8,435,000||$125,896||$1,773||4.93%|
|PEORIA, IL (FHA|USDA|VA)||8||$6,450,000||$806,250||$1,751||5.14%|
|Sterling, IL (FHA|USDA|VA)||45||$6,435,000||$143,000||$999||5.29%|
|DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA)||44||$5,670,000||$128,864||$1,410||5.35%|
|TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)||1||$3,075,000||$3,075,000||$0||5.00%|
|Outside of Metro Areas||13||$2,845,000||$218,846||$1,775||4.82%|
|Clinton, IA (FHA|USDA|VA)||8||$1,480,000||$185,000||$1,398||4.77%|
|Dixon, IL (FHA|USDA|VA)||11||$1,105,000||$100,455||$1,704||5.22%|
|CINCINNATI, OH-KY-IN (FHA|USDA|VA)||1||$1,055,000||$1,055,000||$0||6.00%|
|BLOOMINGTON, IL (FHA|USDA|VA)||5||$765,000||$153,000||$2,180||5.03%|
|SIOUX FALLS, SD (FHA|USDA|VA)||1||$615,000||$615,000||$0||5.25%|
|NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)||1||$565,000||$565,000||$0||4.90%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||2||$480,000||$240,000||$2,776||4.00%|
|Platteville, WI (FHA|USDA|VA)||1||$435,000||$435,000||$787||6.07%|
|Montrose, CO (FHA|USDA|VA)||1||$385,000||$385,000||$2,547||5.52%|
|North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)||1||$345,000||$345,000||$3,903||4.50%|
|CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA)||1||$335,000||$335,000||$3,103||5.26%|
|CEDAR RAPIDS, IA (FHA|USDA|VA)||2||$290,000||$145,000||$2,345||4.29%|
|ST. LOUIS, MO-IL (FHA|USDA|VA)||2||$230,000||$115,000||$2,673||4.31%|
|SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA)||1||$205,000||$205,000||$1,876||4.95%|
|Galesburg, IL (FHA|USDA|VA)||4||$180,000||$45,000||$0||5.41%|
|JANESVILLE-BELOIT, WI (FHA|USDA|VA)||1||$135,000||$135,000||$0||4.75%|
|CARBONDALE-MARION, IL (FHA|USDA|VA)||1||$105,000||$105,000||$1,807||5.88%|
|Mountain Home, AR (FHA|USDA|VA)||1||$85,000||$85,000||$1,814||6.00%|
|RACINE, WI (FHA|USDA|VA)||1||$75,000||$75,000||$1,278||3.25%|
We use machine learning to identify the top lenders compared against Central Bank Illinois based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 30
Similarity Rank: 153
Similarity Rank: 220
Similarity Rank: 264
Similarity Rank: 319
Similarity Rank: 330
Similarity Rank: 336
Similarity Rank: 345
Similarity Rank: 444
Similarity Rank: 540
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Central Bank Illinois's most frequently originated type of loan was Conventional, with 389 originations.
For 2022, Central Bank Illinois's most frequently cited loan purpose was Home Purchase, with 246 originations. The 2nd most popular reason was Refi, with 81 originations.
For 2022, Central Bank Illinois's most frequently cited loan duration was Other, with 110 originations. The 2nd most popular length was 30 Year, with 94 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Central Bank Illinois's average total fees were $1,802, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 242 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Central Bank Illinois's average interest rate for loans was 5.11%, while their most frequently originated rate bucket for loans was 5-6%, with 125 originations.
2022 saw Central Bank Illinois place emphasis on $100,000 or less loans with 192 originations, totaling $11,020,000 in origination value.
Central Bank Illinois lent most frequently to those with incomes in the $50k-75k range, with 79 originations. The second most popular income band? $75k-100k, with 65 originations.
Applicant Debt to Income Ratio
Central Bank Illinois lent most frequently to those with DTI ratios of 20-30%, with 70 originations. The next most common DTI ratio? 30-36%, with 60 originations.
Approval RatesTotal approvals of all applications
Central Bank Illinois has an average approval rate.
Pick RateApprovals leading to origination
Central Bank Illinois has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|