Heartland Bank And Trust Company Mortgage Rates, Fees & Info
Bloomington, ILLEI: EFBDHEMMHTWI378O4988
Tax ID: 37-0924892
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Mortgage Data
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, Bloomington, Davenport, South Bend, and Peoria among others. We have data for 37 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.03% | 4/28/24 |
| 30 Year Conventional Refi | 6.76% | 4/28/24 |
| 30 Year Cash-out Refi | 7.11% | 4/28/24 |
| 30 Year FHA Purchase | 7.63% | 4/28/24 |
| 30 Year USDA Purchase | 7.12% | 4/28/24 |
| 15 Year Conventional Purchase | 6.42% | 4/28/24 |
| 15 Year Conventional Refi | 6.30% | 4/28/24 |
| 15 Year Cash-out Refi | 6.30% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
564Origination Dollar Volume (All Markets)
$148,760,000Awards
Heartland Bank and Trust Company - 2022
Heartland Bank and Trust Company is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 174 | $57,850,000 | $332,471 | $2,561 | 5.18% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 108 | $18,310,000 | $169,537 | $1,887 | 5.29% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 5 | $16,585,000 | $3,317,000 | $1,559 | 5.04% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $11,005,000 | $11,005,000 | $0 | 6.55% |
| PEORIA, IL (FHA|USDA|VA) | 73 | $10,125,000 | $138,699 | $2,054 | 5.22% |
| Ottawa, IL (FHA|USDA|VA) | 63 | $6,315,000 | $100,238 | $2,385 | 5.44% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 38 | $6,020,000 | $158,421 | $1,907 | 5.37% |
| Outside of Metro Areas | 23 | $3,495,000 | $151,957 | $2,540 | 5.57% |
| Lincoln, IL (FHA|USDA|VA) | 23 | $2,455,000 | $106,739 | $2,041 | 5.25% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $2,260,000 | $1,130,000 | $6,342 | 3.84% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 4 | $2,070,000 | $517,500 | $4,331 | 4.24% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $1,405,000 | $1,405,000 | $0 | 6.50% |
| IOWA CITY, IA (FHA|USDA|VA) | 7 | $1,205,000 | $172,143 | $1,326 | 3.57% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $1,190,000 | $595,000 | $5,795 | 4.06% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $1,005,000 | $335,000 | $2,102 | 5.33% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 4 | $830,000 | $207,500 | $1,263 | 5.19% |
| DECATUR, IL (FHA|USDA|VA) | 6 | $810,000 | $135,000 | $2,857 | 5.22% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $0 | 6.15% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $0 | 5.45% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $1,264 | 4.60% |
| Paris, TN (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 6.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $2,567 | 6.63% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $2,552 | 4.88% |
| LOUISVILLE, KY (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $2,295 | 3.69% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,695 | 5.00% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $1,765 | 4.25% |
| DANVILLE, IL (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $2,218 | 4.38% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,755 | 6.63% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $2,072 | 4.44% |
| Rochelle, IL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,364 | 6.50% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $3,473 | 5.72% |
| Freeport, IL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,279 | 5.88% |
| NILES, MI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,296 | 7.25% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,500 | 3.88% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,867 | 3.38% |
| RACINE, WI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,174 | 5.90% |
| Pontiac, IL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,352 | 6.50% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 552 | $147,430,000 | $267,083 | $2,144 | 5.24% |
| FHA | 6 | $720,000 | $120,000 | $5,032 | 4.92% |
| USDA | 6 | $610,000 | $101,667 | $3,492 | 5.31% |
For 2022, Heartland Bank And Trust Company's most frequently originated type of loan was Conventional, with 552 originations. Their 2nd most popular type was FHA, with 6 originations.
Loan Reason
For 2022, Heartland Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 384 originations. The 2nd most popular reason was Cash Out Refi, with 82 originations.
Loan Duration/Length
For 2022, Heartland Bank And Trust Company's most frequently cited loan duration was 30 Year, with 246 originations. The 2nd most popular length was 1 Year, with 87 originations.
Origination Fees/Closing Costs
Heartland Bank And Trust Company's average total fees were $2,534, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 311 originations.
Interest Rates
During 2022, Heartland Bank And Trust Company's average interest rate for loans was 5.29%, while their most frequently originated rate bucket for loans was 5-6%, with 183 originations.
Loan Sizing
2022 saw Heartland Bank And Trust Company place emphasis on $100k-200k loans with 228 originations, totaling $32,600,000 in origination value.
Applicant Income
Heartland Bank And Trust Company lent most frequently to those with incomes in the $50k-75k range, with 100 originations. The second most popular income band? $50k or less, with 85 originations.
Applicant Debt to Income Ratio
Heartland Bank And Trust Company lent most frequently to those with DTI ratios of 30-36%, with 91 originations. The next most common DTI ratio? 20-30%, with 88 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.53%
Heartland Bank And Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination67.73%
Heartland Bank And Trust Company has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 564 | $148,760,000 | $263,759 |