Old Second National Bank Mortgage Rates, Fees & Info

Aurora, IL

LEI: B94HV8SXGDD3J5XESU08

Tax ID: 36-1577458

5 stars - Updated: 2/26/24 - out of 5 stars, based on 31 reviews

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

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Mortgage Data

Review & Overview

Old Second National Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Old Second National Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Chicago, Ottawa, Rockford, Bloomington, and Milwaukee among others. We have data for 39 markets. (Some data included below & more in-depth data is available with an active subscription.)

Old Second National Bank 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. Old Second National Bank 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.

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
Home Equity Line of Credit (HELOC) 6.26% 2/26/24
30 Year Conventional Purchase 6.79% 2/26/24
30 Year Conventional Refi 6.61% 2/26/24
30 Year Cash-out Refi 6.80% 2/26/24
30 Year FHA Purchase 7.41% 2/26/24
30 Year FHA Refi 6.27% 2/26/24
30 Year VA Purchase 6.46% 2/26/24
15 Year Conventional Purchase 6.09% 2/26/24
15 Year Conventional Refi 6.26% 2/26/24
15 Year Cash-out Refi 6.26% 2/26/24
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.

Old Second National Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Old Second National Bank. 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

985

Origination Dollar Volume (All Markets)

$233,595,000

Awards

Old Second National Bank 30 Year Conventional Loans silver Old Second National Bank 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Old Second National Bank's average 30 year fixed mortgage rate was 5.29%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.53%.

Relative Fees (Closing Costs)

Old Second National Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,320.

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.

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 880 $210,070,000 $238,716 $3,734 5.26%
Ottawa, IL (FHA|USDA|VA) 35 $5,115,000 $146,143 $2,985 5.35%
Outside of Metro Areas 6 $1,630,000 $271,667 $3,588 5.40%
ROCKFORD, IL (FHA|USDA|VA) 5 $1,115,000 $223,000 $5,171 4.24%
BLOOMINGTON, IL (FHA|USDA|VA) 2 $980,000 $490,000 $2,848 4.31%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 4 $980,000 $245,000 $2,585 4.63%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $970,000 $485,000 $4,832 5.31%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $955,000 $318,333 $2,364 4.13%
COLUMBUS, OH (FHA|USDA|VA) 2 $880,000 $440,000 $4,677 4.44%
Whitewater, WI (FHA|USDA|VA) 4 $860,000 $215,000 $2,377 4.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $800,000 $400,000 $3,187 3.94%
KANKAKEE, IL (FHA|USDA|VA) 5 $785,000 $157,000 $3,902 5.40%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $745,000 $248,333 $3,488 4.83%
MADISON, WI (FHA|USDA|VA) 1 $705,000 $705,000 $3,831 4.13%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $645,000 $645,000 $6,361 4.13%
Kalispell, MT (FHA|USDA|VA) 1 $595,000 $595,000 $4,731 4.13%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $585,000 $585,000 $5,881 3.63%
Dixon, IL (FHA|USDA|VA) 3 $525,000 $175,000 $2,306 4.54%
Rochelle, IL (FHA|USDA|VA) 4 $460,000 $115,000 $4,643 4.41%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $415,000 $415,000 $0 4.75%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $415,000 $415,000 $3,140 3.88%
Crossville, TN (FHA|USDA|VA) 1 $355,000 $355,000 $3,152 5.38%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $275,000 $275,000 $2,717 3.38%
COLUMBIA, SC (FHA|USDA|VA) 1 $275,000 $275,000 $3,400 6.00%
AKRON, OH (FHA|USDA|VA) 1 $275,000 $275,000 $3,612 5.63%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $265,000 $265,000 $4,937 3.88%
Sterling, IL (FHA|USDA|VA) 1 $225,000 $225,000 $5,248 6.38%
BATTLE CREEK, MI (FHA|USDA|VA) 1 $195,000 $195,000 $2,648 4.38%
NEW BERN, NC (FHA|USDA|VA) 1 $185,000 $185,000 $6,000 5.38%
OCALA, FL (FHA|USDA|VA) 1 $165,000 $165,000 $3,351 3.75%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $165,000 $165,000 $3,288 4.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $155,000 $155,000 $5,762 5.88%
FOND DU LAC, WI (FHA|USDA|VA) 1 $145,000 $145,000 $2,926 7.38%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $135,000 $135,000 $3,561 5.13%
Pontiac, IL (FHA|USDA|VA) 1 $125,000 $125,000 $1,597 5.63%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $125,000 $125,000 $2,614 5.63%
Galesburg, IL (FHA|USDA|VA) 1 $125,000 $125,000 $3,919 8.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $120,000 $60,000 $2,468 5.56%
CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $55,000 $55,000 $2,529 4.38%
Old Second National Bank's top markets include Chicago, Ottawa, Rockford, Bloomington, and Milwaukee among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Old Second National Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 562 $183,300,000 $326,157 $3,463 4.99%
    HELOC 399 $44,785,000 $112,243 n/a 5.62%
    FHA 18 $4,030,000 $223,889 $8,317 4.36%
    VA 6 $1,480,000 $246,667 $8,266 3.94%

    For 2022, Old Second National Bank's most frequently originated type of loan was Conventional, with 562 originations. Their 2nd most popular type was HELOC, with 399 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 332 $34,340,000 $103,434 $1,495 5.59%
    Home Purchase 286 $92,160,000 $322,238 $5,172 5.02%
    Cash Out Refi 258 $78,280,000 $303,411 $2,457 5.35%
    Refi 85 $23,445,000 $275,824 $2,194 4.17%
    Home Improvement 24 $5,370,000 $223,750 $1,393 5.08%

    For 2022, Old Second National Bank's most frequently cited loan purpose was Other, with 332 originations. The 2nd most popular reason was Home Purchase, with 286 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 779 $144,965,000 $186,091 $4,320 5.29%
    15 Year 106 $12,640,000 $119,245 $1,481 5.32%
    5 Year 43 $54,405,000 $1,265,233 $0 4.55%
    10 Year 22 $1,730,000 $78,636 $849 5.01%
    20 Year 16 $3,020,000 $188,750 $2,839 4.37%
    Other 13 $7,925,000 $609,615 $3,139 4.46%
    1 Year 5 $3,155,000 $631,000 $6,324 5.04%
    3 Year 1 $5,755,000 $5,755,000 $0 4.25%

    For 2022, Old Second National Bank's most frequently cited loan duration was 30 Year, with 779 originations. The 2nd most popular length was 15 Year, with 106 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 364 $84,630,000 $232,500
    $1k-2k 82 $18,400,000 $224,390
    $2k-3k 26 $4,530,000 $174,231
    $3k-4k 16 $3,330,000 $208,125
    $4k-5k 7 $2,175,000 $310,714
    $5k+ 6 $2,130,000 $355,000

    Old Second National Bank's average total fees were $4,320, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 364 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 303 $75,275,000 $248,432
    5-6% 195 $37,625,000 $192,949
    3-4% 194 $81,670,000 $420,979
    6-7% 150 $18,270,000 $121,800
    7-8% 93 $11,595,000 $124,677
    Over 8% 26 $3,370,000 $129,615
    2.5-3% 19 $4,375,000 $230,263
    <2.5% 5 $1,415,000 $283,000

    During 2022, Old Second National Bank's average interest rate for loans was 5.29%, while their most frequently originated rate bucket for loans was 4-5%, with 303 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 349 $19,205,000 $55,029 $1,473 5.72%
    $100k-200k 292 $41,460,000 $141,986 $3,611 5.18%
    $200k-400k 234 $63,730,000 $272,350 $4,443 4.89%
    $400k-600k 61 $29,235,000 $479,262 $3,970 4.58%
    $600k-1MM 26 $18,930,000 $728,077 $5,618 4.58%
    $1MM+ 23 $61,035,000 $2,653,696 $5,312 4.23%

    2022 saw Old Second National Bank place emphasis on $100,000 or less loans with 349 originations, totaling $19,205,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 200 $33,510,000 $167,550 $3,444 5.32%
    $75k-100k 175 $26,055,000 $148,886 $4,032 5.25%
    $50k-75k 170 $22,350,000 $131,471 $3,520 5.27%
    $150k-250k 161 $37,545,000 $233,199 $3,709 5.21%
    $50k or less 136 $12,170,000 $89,485 $3,617 5.46%
    $250k+ 79 $31,345,000 $396,772 $4,494 4.97%

    Old Second National Bank lent most frequently to those with incomes in the $100k-150k range, with 200 originations. The second most popular income band? $75k-100k, with 175 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 199 $34,795,000 $174,849 $3,841 5.18%
    20-30% 183 $31,515,000 $172,213 $3,190 5.13%
    <20% 79 $15,635,000 $197,911 $3,396 4.93%
    40% 56 $7,030,000 $125,536 $3,119 5.67%
    42% 55 $12,645,000 $229,909 $3,717 5.52%
    41% 49 $6,385,000 $130,306 $4,037 5.77%
    39% 49 $6,665,000 $136,020 $3,216 5.69%
    38% 43 $7,295,000 $169,651 $2,895 5.38%
    36% 42 $5,960,000 $141,905 $3,862 5.44%
    37% 41 $6,595,000 $160,854 $4,283 5.37%
    43% 31 $5,935,000 $191,452 $3,734 5.35%
    44% 24 $6,520,000 $271,667 $4,605 4.73%
    45% 20 $5,250,000 $262,500 $5,354 5.06%
    49% 12 $2,530,000 $210,833 $3,334 5.55%
    50-60% 12 $1,950,000 $162,500 $5,978 4.98%
    46% 11 $2,965,000 $269,545 $3,604 4.53%
    47% 11 $1,815,000 $165,000 $3,990 5.32%
    48% 11 $2,785,000 $253,182 $3,301 4.50%
    >60% 5 $575,000 $115,000 $1,523 4.93%

    Old Second National Bank lent most frequently to those with DTI ratios of 30-36%, with 199 originations. The next most common DTI ratio? 20-30%, with 183 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 851 $152,205,000 $178,854 $3,587 5.25%
    Not applicable 43 $64,115,000 $1,491,047 $0 4.50%
    Asian 24 $6,420,000 $267,500 $4,928 5.14%
    Black 36 $6,320,000 $175,556 $4,580 5.45%
    Not provided 26 $3,830,000 $147,308 $4,100 5.46%
    American Indian 4 $630,000 $157,500 $6,965 5.22%
    Other Asian 1 $75,000 $75,000 $0 4.00%

    Approval Rates

    Total approvals of all applications
    91.69%

    Old Second National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.75%

    Old Second National Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 985 $233,595,000 $237,152

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    985 $233,595,000 $237,152

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 199 $22,195,000 $111,533 $2,433 5.72%
    40-60% 119 $28,385,000 $238,529 $3,019 5.01%
    60-80% 249 $115,865,000 $465,321 $3,568 4.78%
    80-100% 175 $50,095,000 $286,257 $5,152 4.87%
    Over 100% 2 $3,540,000 $1,770,000 $0 4.83%
    Under 20% 241 $13,515,000 $56,079 $613 5.65%