Heartland Bank And Trust Company Mortgage Rates, Fees & Info

Bloomington, IL

LEI: EFBDHEMMHTWI378O4988

Tax ID: 37-0924892

5 stars - Updated: 10/29/24 - out of 5 stars, based on 29 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Heartland Bank And Trust Company is a smaller bank specializing in Home Purchase loans. Heartland Bank And Trust Company 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Chicago, Springfield, Bloomington, Niles, and St. Louis among others. We have data for 43 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Heartland Bank And Trust Company has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Heartland Bank And Trust Company 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 7.03% 10/29/24
    30 Year Conventional Refi 6.76% 10/29/24
    30 Year Cash-out Refi 7.11% 10/29/24
    30 Year FHA Purchase 7.63% 10/29/24
    30 Year USDA Purchase 7.12% 10/29/24
    15 Year Conventional Purchase 6.42% 10/29/24
    15 Year Conventional Refi 6.30% 10/29/24
    15 Year Cash-out Refi 6.30% 10/29/24
    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.

    Heartland Bank And Trust Company Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Heartland Bank And Trust Company. 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

    845

    Origination Dollar Volume (All Markets)

    $216,415,000
    Show all (17) awards

    Relative Rate

    Heartland Bank And Trust Company's average 30 year fixed mortgage rate was 6.68%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.2%.

    Relative Fees (Closing Costs)

    Heartland Bank And Trust Company's average total fees/closing costs for a 30 year fixed rate mortgage were $2,784.

    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
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 154 $87,960,000 $571,169 $3,637 8.05%
    SPRINGFIELD, IL (FHA|USDA|VA) 164 $26,460,000 $161,341 $2,651 6.64%
    BLOOMINGTON, IL (FHA|USDA|VA) 83 $14,845,000 $178,855 $1,717 6.77%
    NILES, MI (FHA|USDA|VA) 1 $14,005,000 $14,005,000 $0 8.25%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 73 $12,295,000 $168,425 $2,873 6.70%
    DECATUR, IL (FHA|USDA|VA) 66 $8,930,000 $135,303 $3,065 6.61%
    PEORIA, IL (FHA|USDA|VA) 62 $8,000,000 $129,032 $2,100 7.00%
    Ottawa, IL (FHA|USDA|VA) 55 $6,645,000 $120,818 $2,366 6.87%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $5,370,000 $2,685,000 $19,182 7.38%
    IOWA CITY, IA (FHA|USDA|VA) 5 $4,695,000 $939,000 $0 6.52%
    Outside of Metro Areas 38 $4,350,000 $114,474 $2,800 6.81%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 32 $3,760,000 $117,500 $1,737 6.64%
    Lincoln, IL (FHA|USDA|VA) 22 $2,340,000 $106,364 $1,778 6.54%
    Taylorville, IL (FHA|USDA|VA) 20 $2,000,000 $100,000 $2,763 6.78%
    Jacksonville, IL (FHA|USDA|VA) 15 $1,955,000 $130,333 $2,424 6.51%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,270,000 $317,500 $2,504 7.60%
    Quincy, IL-MO (FHA|USDA|VA) 7 $1,065,000 $152,143 $1,947 6.68%
    Charleston-Mattoon, IL (FHA|USDA|VA) 6 $1,010,000 $168,333 $3,668 7.14%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $785,000 $785,000 $0 6.83%
    Whitewater, WI (FHA|USDA|VA) 1 $725,000 $725,000 $3,952 7.38%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $725,000 $725,000 $2,822 5.38%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $610,000 $305,000 $1,704 7.24%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $605,000 $605,000 $5,429 6.25%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 2 $520,000 $260,000 $0 7.23%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $505,000 $505,000 $8,000 6.80%
    SPRINGFIELD, MO (FHA|USDA|VA) 2 $500,000 $250,000 $2,608 6.70%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $450,000 $225,000 $0 7.25%
    Effingham, IL (FHA|USDA|VA) 3 $415,000 $138,333 $3,698 7.04%
    Pontiac, IL (FHA|USDA|VA) 2 $370,000 $185,000 $2,145 6.84%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $365,000 $365,000 $4,110 6.43%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $365,000 $365,000 $0 7.15%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $345,000 $345,000 $4,673 7.10%
    Galesburg, IL (FHA|USDA|VA) 1 $305,000 $305,000 $3,344 7.22%
    ST. CLOUD, MN (FHA|USDA|VA) 2 $280,000 $140,000 $4,203 6.43%
    DANVILLE, IL (FHA|USDA|VA) 2 $270,000 $135,000 $2,352 6.54%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,309 7.00%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 3 $255,000 $85,000 $2,249 6.33%
    KANKAKEE, IL (FHA|USDA|VA) 1 $215,000 $215,000 $2,719 6.23%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $185,000 $185,000 $2,450 7.13%
    Macomb, IL (FHA|USDA|VA) 1 $155,000 $155,000 $2,288 7.88%
    Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 1 $85,000 $85,000 $2,550 7.30%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.65%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $85,000 $85,000 $2,099 6.05%
    Heartland Bank And Trust Company's top markets include Chicago, Springfield, Bloomington, Niles, and St. Louis among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)

    • Similar Lenders

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

    FINANCIAL PLUS
    Similarity Rank: 12
    UNIVERSITY OF ILLINOIS COMMUNITY
    Similarity Rank: 45
    First Savings Bank of Hegewisch
    Similarity Rank: 46
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 96
    HEARTLAND
    Similarity Rank: 117
    Petefish, Skiles & Co.
    Similarity Rank: 170
    Central Bank Illinois
    Similarity Rank: 189
    Marine Bank
    Similarity Rank: 190
    IAA Credit Union
    Similarity Rank: 203
    Prairie State Bank and Trust
    Similarity Rank: 240

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 759 $205,085,000 $270,204 $2,280 7.04%
    FHA 60 $7,790,000 $129,833 $5,068 6.43%
    USDA 15 $1,675,000 $111,667 $4,777 6.68%
    VA 11 $1,865,000 $169,545 $3,897 6.59%

    For 2023, Heartland Bank And Trust Company's most frequently originated type of loan was Conventional, with 759 originations. Their 2nd most popular type was FHA, with 60 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 664 $185,380,000 $279,187 $2,945 6.99%
    Cash Out Refi 75 $18,525,000 $247,000 $1,665 6.87%
    Other 60 $5,320,000 $88,667 $1,266 7.04%
    Refi 31 $6,385,000 $205,968 $1,955 6.86%
    Home Improvement 15 $805,000 $53,667 $847 7.01%

    For 2023, Heartland Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 664 originations. The 2nd most popular reason was Cash Out Refi, with 75 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 591 $103,955,000 $175,897 $2,784 6.68%
    5 Year 91 $51,075,000 $561,264 $668 7.08%
    1 Year 75 $11,655,000 $155,400 $0 9.19%
    Other 51 $44,105,000 $864,804 $877 7.33%
    20 Year 13 $705,000 $54,231 $841 7.46%
    15 Year 13 $2,505,000 $192,692 $2,310 5.99%
    10 Year 8 $620,000 $77,500 $888 6.64%
    3 Year 2 $1,760,000 $880,000 $0 6.63%
    30+ year 1 $35,000 $35,000 $0 3.88%

    For 2023, Heartland Bank And Trust Company's most frequently cited loan duration was 30 Year, with 591 originations. The 2nd most popular length was 5 Year, with 91 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 511 $79,175,000 $154,941
    $1k-2k 111 $23,185,000 $208,874
    $2k-3k 6 $1,010,000 $168,333
    $3k-4k 5 $1,275,000 $255,000
    $5k+ 5 $2,195,000 $439,000
    $4k-5k 2 $240,000 $120,000

    Heartland Bank And Trust Company's average total fees were $2,784, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 511 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 434 $83,390,000 $192,143
    7-8% 197 $67,855,000 $344,442
    Over 8% 112 $31,690,000 $282,946
    5-6% 98 $16,090,000 $164,184
    4-5% 2 $17,250,000 $8,625,000
    <2.5% 1 $105,000 $105,000
    3-4% 1 $35,000 $35,000

    During 2023, Heartland Bank And Trust Company's average interest rate for loans was 6.68%, while their most frequently originated rate bucket for loans was 6-7%, with 434 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 327 $46,125,000 $141,055 $2,875 6.97%
    $100,000 or less 308 $19,860,000 $64,481 $1,945 7.02%
    $200k-400k 155 $41,635,000 $268,613 $2,884 6.92%
    $400k-600k 26 $12,510,000 $481,154 $3,262 7.15%
    $600k-1MM 15 $11,095,000 $739,667 $4,961 6.82%
    $1MM+ 14 $85,190,000 $6,085,000 $11,527 7.01%

    2023 saw Heartland Bank And Trust Company place emphasis on $100k-200k loans with 327 originations, totaling $46,125,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 168 $18,600,000 $110,714 $2,689 6.67%
    $50k or less 159 $13,665,000 $85,943 $2,361 6.51%
    $100k-150k 135 $25,725,000 $190,556 $2,648 6.84%
    $75k-100k 95 $14,025,000 $147,632 $2,567 6.78%
    $150k-250k 85 $18,305,000 $215,353 $2,422 6.93%
    $250k+ 40 $21,630,000 $540,750 $4,133 6.91%

    Heartland Bank And Trust Company lent most frequently to those with incomes in the $50k-75k range, with 168 originations. The second most popular income band? $50k or less, with 159 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 178 $25,590,000 $143,764 $2,467 6.67%
    30-36% 148 $29,180,000 $197,162 $2,618 6.72%
    <20% 58 $9,190,000 $158,448 $2,412 6.61%
    39% 31 $4,955,000 $159,839 $2,854 6.67%
    36% 31 $6,995,000 $225,645 $2,710 6.81%
    37% 28 $4,160,000 $148,571 $2,730 6.48%
    43% 27 $3,925,000 $145,370 $2,992 6.71%
    41% 24 $3,690,000 $153,750 $2,883 6.97%
    40% 21 $2,635,000 $125,476 $2,843 6.45%
    42% 19 $3,125,000 $164,474 $3,316 6.69%
    38% 17 $1,765,000 $103,824 $2,034 6.67%
    45% 15 $3,045,000 $203,000 $2,294 6.50%
    46% 15 $2,475,000 $165,000 $2,245 6.77%
    44% 13 $2,135,000 $164,231 $3,503 6.78%
    47% 12 $1,660,000 $138,333 $2,245 6.82%
    48% 10 $2,100,000 $210,000 $2,615 7.07%
    49% 5 $995,000 $199,000 $2,157 7.34%
    50-60% 4 $1,100,000 $275,000 $4,467 6.84%
    >60% 1 $35,000 $35,000 $0 3.88%

    Heartland Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 178 originations. The next most common DTI ratio? 30-36%, with 148 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 154 $103,240,000 $670,390 $0 8.11%
    White 607 $99,235,000 $163,484 $2,567 6.72%
    Not provided 51 $8,155,000 $159,902 $2,339 6.89%
    Black 23 $3,925,000 $170,652 $4,574 6.59%
    Asian 7 $1,525,000 $217,857 $2,750 6.72%
    American Indian 2 $260,000 $130,000 $2,195 7.37%
    Other Asian 1 $75,000 $75,000 $1,610 5.88%

    Approval Rates

    Total approvals of all applications
    89.67%

    Heartland Bank And Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.31%

    Heartland Bank And Trust Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 845 $216,415,000 $256,112

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    845 $216,415,000 $256,112

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 56 $31,600,000 $564,286 $1,614 6.99%
    40-60% 61 $10,225,000 $167,623 $2,167 6.56%
    60-80% 278 $91,460,000 $328,993 $2,534 7.48%
    80-100% 400 $65,130,000 $162,825 $3,002 6.69%
    Over 100% 4 $14,460,000 $3,615,000 $6,782 7.09%
    Under 20% 46 $3,540,000 $76,957 $979 7.02%