Old Second National Bank Mortgage Rates, Fees & Info
Aurora, ILLEI: B94HV8SXGDD3J5XESU08
Tax ID: 36-1577458
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.26% | 5/27/23 |
| 30 Year Conventional Purchase | 6.79% | 5/27/23 |
| 30 Year Conventional Refi | 6.61% | 5/27/23 |
| 30 Year Cash-out Refi | 6.80% | 5/27/23 |
| 30 Year FHA Purchase | 7.41% | 5/27/23 |
| 30 Year FHA Refi | 6.27% | 5/27/23 |
| 30 Year VA Purchase | 6.46% | 5/27/23 |
| 15 Year Conventional Purchase | 6.09% | 5/27/23 |
| 15 Year Conventional Refi | 6.26% | 5/27/23 |
| 15 Year Cash-out Refi | 6.26% | 5/27/23 |
| 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. | ||
Old Second National Bank Mortgage Calculator
Your Estimates
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This is not an official calculator from Old Second National Bank. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
985Origination Dollar Volume (All Markets)
$233,595,000Awards
Old Second National Bank - 2022
Old Second National Bank is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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% |
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
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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications91.69%
Old Second National Bank has an average approval rate.
Pick Rate
Approvals leading to origination76.75%
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 |