Central Bank Illinois Mortgage Rates, Fees & Info
Geneseo, ILLEI: 549300ZM3TKJVUYB3676
Tax ID: 36-0886040
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Mortgage Data
Review & Overview
Central 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: Gulfport, Ottawa, Davenport, Rochelle, and Sterling among others. We have data for 21 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 an above 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 relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.60% | 12/29/24 |
| 30 Year Conventional Refi | 6.28% | 12/29/24 |
| 30 Year Cash-out Refi | 6.49% | 12/29/24 |
| 15 Year Conventional Purchase | 6.47% | 12/29/24 |
| 15 Year Conventional Refi | 6.21% | 12/29/24 |
| 15 Year Cash-out Refi | 6.21% | 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. | ||
Central Bank Illinois Mortgage Calculator
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This is not an official calculator from Central Bank Illinois. 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
337Origination Dollar Volume (All Markets)
$65,065,000Awards
Central Bank Illinois - 2023
Central Bank Illinois is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Central Bank Illinois's average 30 year fixed mortgage rate was
6.69%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.21%.
Relative Fees (Closing Costs)
Central Bank Illinois's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,106.
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 |
|---|---|---|---|---|---|
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $17,005,000 | $17,005,000 | $0 | 6.75% |
| Ottawa, IL (FHA|USDA|VA) | 126 | $14,260,000 | $113,175 | $1,527 | 7.07% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 57 | $9,195,000 | $161,316 | $1,484 | 6.78% |
| Rochelle, IL (FHA|USDA|VA) | 52 | $7,500,000 | $144,231 | $2,159 | 6.83% |
| Sterling, IL (FHA|USDA|VA) | 43 | $4,825,000 | $112,209 | $1,063 | 7.05% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 10 | $3,600,000 | $360,000 | $2,475 | 7.02% |
| Dixon, IL (FHA|USDA|VA) | 22 | $3,100,000 | $140,909 | $1,743 | 6.98% |
| ROCKFORD, IL (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $2,715 | 7.00% |
| Baraboo, WI (FHA|USDA|VA) | 1 | $855,000 | $855,000 | $3,360 | 6.75% |
| Los Alamos, NM (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $4,411 | 7.50% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 7.13% |
| PEORIA, IL (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $1,721 | 6.83% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,664 | 6.66% |
| Outside of Metro Areas | 3 | $345,000 | $115,000 | $1,248 | 7.52% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $1,766 | 6.94% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,456 | 6.77% |
| Clinton, IA (FHA|USDA|VA) | 5 | $225,000 | $45,000 | $1,281 | 6.83% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,174 | 6.75% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $3,409 | 5.75% |
| Martin, TN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,622 | 6.88% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,813 | 8.10% |
Similar Lenders
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: 12
Similarity Rank: 46
Similarity Rank: 57
Similarity Rank: 96
Similarity Rank: 99
Similarity Rank: 108
Similarity Rank: 155
Similarity Rank: 220
Similarity Rank: 279
Similarity Rank: 280
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 337 | $65,065,000 | $193,071 | $1,639 | 6.96% |
For 2023, Central Bank Illinois's most frequently originated type of loan was Conventional, with 337 originations.
Loan Reason
For 2023, Central Bank Illinois's most frequently cited loan purpose was Home Purchase, with 223 originations. The 2nd most popular reason was Refi, with 65 originations.
Loan Duration/Length
For 2023, Central Bank Illinois's most frequently cited loan duration was 30 Year, with 93 originations. The 2nd most popular length was Other, with 91 originations.
Origination Fees/Closing Costs
Central Bank Illinois's average total fees were $2,106, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 204 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 172 | $40,240,000 | $233,953 |
| 7-8% | 108 | $18,460,000 | $170,926 |
| Over 8% | 32 | $2,470,000 | $77,188 |
| 5-6% | 22 | $3,560,000 | $161,818 |
| 4-5% | 3 | $335,000 | $111,667 |
During 2023, Central Bank Illinois's average interest rate for loans was 6.69%, while their most frequently originated rate bucket for loans was 6-7%, with 172 originations.
Loan Sizing
2023 saw Central Bank Illinois place emphasis on $100,000 or less loans with 173 originations, totaling $9,185,000 in origination value.
Applicant Income
Central Bank Illinois lent most frequently to those with incomes in the $50k-75k range, with 69 originations. The second most popular income band? $100k-150k, with 65 originations.
Applicant Debt to Income Ratio
Central Bank Illinois lent most frequently to those with DTI ratios of 20-30%, with 61 originations. The next most common DTI ratio? 30-36%, with 43 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.65%
Central Bank Illinois has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination90.21%
Central Bank Illinois has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 3 | $55,000 | $18,333 |
| NA | 334 | $65,010,000 | $194,641 |