KANKAKEE Mortgage Rates
30 Year Fixed Rate mortgages in Kankakee averaged
3.1%
for the week of 2021-11-24, compared to the national average of
3.1% for the same period.
The average rate for the prior week (2021-11-18) was
3.3% and
one month ago for the week of 2021-10-21, the
average rate was 3.49%.
Kankakee's average rate one year ago was 3.02%.
For refis of the same type during the week of 2021-11-24, the average rate
was 3.11%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2021-11-24 | 3.1% |
| Kankakee 30 Year Fixed Rate | 2021-11-24 | 3.1% |
| Kankakee 30 Year Fixed Rate Refi | 2021-11-24 | 3.11% |
| Kankakee 15 Year Fixed Rate | 2021-11-24 | 3.46% |
| Kankakee 15 Year Fixed Rate Refi | 2021-11-24 | 2.72% |
| Kankakee 30 Year FHA | 2021-11-24 | 3.54% |
| Kankakee 30 Year FHA Refi | 2021-11-24 | 3.63% |
| Kankakee 30 Year USDA | 2021-11-24 | 3.64% |
| Kankakee 30 Year USDA Refi | 2021-11-24 | 3.47% |
| Kankakee 30 Year VA | 2021-11-24 | 3.24% |
| Kankakee 30 Year VA Refi | 2021-11-24 | 3.07% |
KANKAKEE Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lendor, for only loans originated in the KANKAKEE, IL market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
KANKAKEE, IL's 143 lenders originated 3,738
loans during 2020. The total origination value was $606,890,000, with an average loan value of
$162,357.
The top KANKAKEE lender as defined by loan originations is Midland States Bank, with
174 loans originated. Their average total fees are
$2,618, which is $2,163
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee KANKAKEE lenders (with over 10 loans originated) are
First American Bank ($2,102), Wells Fargo Bank, National Association ($2,271), First Financial Bank ($2,282), JPMorgan Chase Bank, National Association ($2,603) and HOME POINT FINANCIAL CORPORATION ($2,615).
The lowest rate KANKAKEE lenders (with over 10 loans originated) are
First Midwest Bank (3.01%), LOANDEPOT.COM, LLC (3.12%), AMERICAN PACIFIC MORTGAGE CORPORATION (3.14%), First American Bank (3.17%) and CROSSCOUNTRY MORTGAGE, LLC (3.17%).
KANKAKEE, IL Lender Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2019 Loan Value | 2020 Loan Value | % Change | 2020 Market Share |
|---|---|---|---|---|
| Municipal Trust and Savings Bank | $27,155,000 | $61,995,000 | 128.3% | 10.2% |
| Peoples Bank of Kankakee County | $21,130,000 | $57,390,000 | 171.6% | 9.5% |
| Midland States Bank | $43,115,000 | $52,770,000 | 22.4% | 8.7% |
| National Bank of St Anne | $9,135,000 | $38,915,000 | 326.0% | 6.4% |
| Quicken Loans | $23,750,000 | $37,855,000 | 59.4% | 6.2% |
| First Trust Bank of Illinois | $6,505,000 | $19,340,000 | 197.3% | 3.2% |
| WELLS FARGO BANK NA | $15,305,000 | $17,770,000 | 16.1% | 2.9% |
| Flanagan State Bank | $8,050,000 | $13,435,000 | 66.9% | 2.2% |
| Freedom Mortgage Corporation | $3,320,000 | $13,405,000 | 303.8% | 2.2% |
| Guaranteed Rate Inc. | $6,625,000 | $12,255,000 | 85.0% | 2.0% |
| Hometown Lenders LLC | $5,115,000 | $11,140,000 | 117.8% | 1.8% |
| PNC BANK NA | $6,535,000 | $9,595,000 | 46.8% | 1.6% |
| First American Bank | $4,915,000 | $8,755,000 | 78.1% | 1.4% |
| Iroquois Federal Savings and Loan Association | $3,750,000 | $8,075,000 | 115.3% | 1.3% |
| LeaderOne Financial Corp. | $485,000 | $6,510,000 | 1,242.3% | 1.1% |
| Nationstar Mortgage | $4,625,000 | $6,460,000 | 39.7% | 1.1% |
| FIRST STATE BANK | $6,245,000 | n/a | 1.0% | |
| Federated Bank | $985,000 | $6,180,000 | 527.4% | 1.0% |
| Mortgage Research Center LLC | $4,295,000 | $6,055,000 | 41.0% | 1.0% |
| Berkadia Commercial Mortgage | $6,040,000 | n/a | 1.0% | |
| loanDepot LLC | $4,545,000 | $5,315,000 | 16.9% | 0.9% |
| FAIRWAY INDEPENDENT MORT CORP | $5,050,000 | $5,115,000 | 1.3% | 0.8% |
| First Financial Bank | $4,035,000 | $4,810,000 | 19.2% | 0.8% |
| HomeBridge Financial Services, Inc. | $1,550,000 | $4,745,000 | 206.1% | 0.8% |
| United Shore Financial Services LLC | $3,495,000 | $4,660,000 | 33.3% | 0.8% |
| Home Point Financial Corporation | $3,515,000 | $4,655,000 | 32.4% | 0.8% |
| JPMorgan Chase Bank, NA | $4,475,000 | $4,365,000 | -2.5% | 0.7% |
| Flat Branch Mortgage Inc. | $1,445,000 | $4,200,000 | 190.7% | 0.7% |
| Caliber Home Loans Inc | $2,085,000 | $4,185,000 | 100.7% | 0.7% |
| American Pacific Mortgage Corporation | $4,105,000 | n/a | 0.7% | |
| First Midwest Bank | $4,045,000 | $3,855,000 | -4.7% | 0.6% |
| Supreme Lending/ Everett Financial Inc. | $850,000 | $3,715,000 | 337.1% | 0.6% |
| Northwest Bank of Rockford | $820,000 | $3,710,000 | 352.4% | 0.6% |
| Draper and Kramer Mortgage Corp. | $2,215,000 | $3,645,000 | 64.6% | 0.6% |
| Barrington Bank & Trust | $4,105,000 | $3,475,000 | -15.3% | 0.6% |
| The Federal Savings Bank | $1,350,000 | $3,335,000 | 147.0% | 0.5% |
| Hancock Mortgage Partners LLC | $7,570,000 | $3,255,000 | -57.0% | 0.5% |
| Cardinal Financial Company LP | $495,000 | $3,065,000 | 519.2% | 0.5% |
| NEWREZ LLC | $990,000 | $3,040,000 | 207.1% | 0.5% |
| Real Estate Resource Home Loans | $3,590,000 | $2,980,000 | -17.0% | 0.5% |
| USAA FEDERAL SAVINGS BANK | $2,975,000 | $2,900,000 | -2.5% | 0.5% |
| Compeer Financial ACA | $1,715,000 | $2,865,000 | 67.1% | 0.5% |
| BLUELEAF LENDING, LLC | $380,000 | $2,780,000 | 631.6% | 0.5% |
| PENNYMAC LOAN SERVICES LLC | $1,330,000 | $2,645,000 | 98.9% | 0.4% |
| Plaza Home Mortgage Inc. | $540,000 | $2,430,000 | 350.0% | 0.4% |
| Pacor Mortgage Corp | $2,150,000 | $2,265,000 | 5.3% | 0.4% |
| Amerisave Mortgage Corporation | $705,000 | $2,210,000 | 213.5% | 0.4% |
| Grundy Bank | $2,285,000 | $2,210,000 | -3.3% | 0.4% |
| Lakeview Loan Servicing, LLC | $165,000 | $2,195,000 | 1,230.3% | 0.4% |
| Stearns Lending | $1,460,000 | $2,195,000 | 50.3% | 0.4% |
| Homeside Financial LLC | $520,000 | $2,120,000 | 307.7% | 0.3% |
| Huntington National Bank | $795,000 | $2,035,000 | 156.0% | 0.3% |
| US BANK, N.A. | $1,875,000 | $2,020,000 | 7.7% | 0.3% |
| Fifth Third Bank | $560,000 | $1,950,000 | 248.2% | 0.3% |
| NAVY FEDERAL CREDIT UNION | $715,000 | $1,905,000 | 166.4% | 0.3% |
| Key Mortgage Services Inc. | $790,000 | $1,770,000 | 124.1% | 0.3% |
| Bank of America NA | $2,335,000 | $1,765,000 | -24.4% | 0.3% |
| Neighborhood Loans | $535,000 | $1,655,000 | 209.3% | 0.3% |
| CMG Mortgage Inc. | $595,000 | $1,650,000 | 177.3% | 0.3% |
| Village Capital & Investment | $495,000 | $1,615,000 | 226.3% | 0.3% |
| Mortgage Services III LLC | $65,000 | $1,430,000 | 2,100.0% | 0.2% |
| Mutual Federal Bank | $2,030,000 | $1,410,000 | -30.5% | 0.2% |
| MARQUETTE BANK | $780,000 | $1,375,000 | 76.3% | 0.2% |
| Peoples Bank | $1,320,000 | n/a | 0.2% | |
| Stifel Bank and Trust | $855,000 | $1,285,000 | 50.3% | 0.2% |
| Synergy One Lending | $380,000 | $1,245,000 | 227.6% | 0.2% |
| Midwest Equity Mortgage LLC | $590,000 | $1,230,000 | 108.5% | 0.2% |
| Allied First BankSB | $1,035,000 | $1,215,000 | 17.4% | 0.2% |
| FIRST NATIONAL BANK OF OTTAWA | $145,000 | $1,205,000 | 731.0% | 0.2% |
| Flagstar Bank | $945,000 | $1,170,000 | 23.8% | 0.2% |
| NewDay Financial LLC dba NewDay USA | $1,165,000 | n/a | 0.2% | |
| Royal Savings Bank | $1,145,000 | n/a | 0.2% | |
| Busey Bank | $1,460,000 | $1,095,000 | -25.0% | 0.2% |
| CIBM Bank | $175,000 | $1,080,000 | 517.1% | 0.2% |
| Planet Home Lending LLC | $1,060,000 | n/a | 0.2% | |
| American Residential Lending | $980,000 | n/a | 0.2% | |
| Inlanta Mortgage | $700,000 | $940,000 | 34.3% | 0.2% |
| First Guaranty Mortgage Corporation | $310,000 | $900,000 | 190.3% | 0.1% |
| BMO Harris Bank N.A. | $300,000 | $885,000 | 195.0% | 0.1% |
| First Centennial Mortgage Corp. | $1,030,000 | $855,000 | -17.0% | 0.1% |
| V.I.P. Mortgage Inc. | $335,000 | $845,000 | 152.2% | 0.1% |
| Low VA Rates | $105,000 | $835,000 | 695.2% | 0.1% |
| Endeavor Capital Mortgage LLC | $535,000 | $780,000 | 45.8% | 0.1% |
| Compass Mortgage Inc | $870,000 | $760,000 | -12.6% | 0.1% |
| Lakeview Community Capital, LLC | $760,000 | n/a | 0.1% | |
| United Home Loans Inc | $750,000 | n/a | 0.1% | |
| CIBC Bank USA | $195,000 | $745,000 | 282.1% | 0.1% |
| Gold Star Mortgage Financial Group, Corporation | $605,000 | $725,000 | 19.8% | 0.1% |
| AmeriHomeMortgageCompany,LL | $390,000 | $720,000 | 84.6% | 0.1% |
| NuMark Credit Union | $190,000 | $705,000 | 271.1% | 0.1% |
| CARRINGTON MORTGAGE SERVICES | $1,650,000 | $695,000 | -57.9% | 0.1% |
| First Federal Savings Bank | $295,000 | $695,000 | 135.6% | 0.1% |
| American Financial Funding | $255,000 | $680,000 | 166.7% | 0.1% |
| American Portfolio Mortgage | $1,420,000 | $680,000 | -52.1% | 0.1% |
| Better Mortgage Corporation | $675,000 | n/a | 0.1% | |
| Oceanside Mortgage Company | $135,000 | $635,000 | 370.4% | 0.1% |
| Equity Prime Mortgage LLC | $630,000 | n/a | 0.1% | |
| New American Funding (dba for Broker Solutions Inc) | $515,000 | $630,000 | 22.3% | 0.1% |
| REGIONS BANK | $160,000 | $630,000 | 293.8% | 0.1% |
| The Anderson Financial Group Inc | $185,000 | $610,000 | 229.7% | 0.1% |
| Bank of England | $180,000 | $605,000 | 236.1% | 0.1% |
| 21ST MORTGAGE | $745,000 | $555,000 | -25.5% | 0.1% |
| Academy Mortgage Corporation | $555,000 | n/a | 0.1% | |
| Fidelity Bank | $555,000 | n/a | 0.1% | |
| Parlay Mortgage & Property Inc | $605,000 | $555,000 | -8.3% | 0.1% |
| Finance of America Commercial LLC | $170,000 | $545,000 | 220.6% | 0.1% |
| PRIMELENDING | $275,000 | $545,000 | 98.2% | 0.1% |
| Parkside Lending LLC | $2,935,000 | $535,000 | -81.8% | 0.1% |
| CNB Bank and Trust N.A. | $530,000 | n/a | 0.1% | |
| MOVEMENT MORTGAGE, LLC | $525,000 | n/a | 0.1% | |
| Churchill Mortgage Corporation | $515,000 | n/a | 0.1% | |
| American Financial Resources Inc. | $495,000 | n/a | 0.1% | |
| Provident Funding Associates | $280,000 | $490,000 | 75.0% | 0.1% |
| Clearpath Lending | $480,000 | n/a | 0.1% | |
| Mid America Mortgage Inc. | $480,000 | n/a | 0.1% | |
| Success Mortgage Partners Inc. | $475,000 | n/a | 0.1% | |
| Keller Mortgage LLC | $465,000 | n/a | 0.1% | |
| American Financial Network Inc. | $265,000 | $445,000 | 67.9% | 0.1% |
| First Northern Credit Union | $45,000 | $440,000 | 877.8% | 0.1% |
| Total Mortgage Services LLC | $365,000 | $440,000 | 20.5% | 0.1% |
| First Savings Bank | $195,000 | $435,000 | 123.1% | 0.1% |
| State Bank of Graymont | $105,000 | $435,000 | 314.3% | 0.1% |
| Royal United Mortgage LLC | $530,000 | $420,000 | -20.8% | 0.1% |
| Discover Bank | $345,000 | $415,000 | 20.3% | 0.1% |
| HomeStar Financial Corporation | $415,000 | n/a | 0.1% | |
| Hometown National Bank | $400,000 | $415,000 | 3.8% | 0.1% |
| Farm Credit Mid-America | $410,000 | n/a | 0.1% | |
| Marine Bank | $410,000 | n/a | 0.1% | |
| Triad Financial Services Inc | $405,000 | n/a | 0.1% | |
| Centier Bank | $180,000 | $400,000 | 122.2% | 0.1% |
| First Mid Bank & Trust, NA | $380,000 | n/a | 0.1% | |
| First Federal Bank of Kansas City | $375,000 | n/a | 0.1% | |
| The Home Loan Expert | $525,000 | $370,000 | -29.5% | 0.1% |
| MIDWEST COMMUNITY BANK | $365,000 | n/a | 0.1% | |
| James B. Nutter & Company | $360,000 | n/a | 0.1% | |
| AAG | $190,000 | $355,000 | 86.8% | 0.1% |
| Oxford Bank & Trust | $295,000 | $355,000 | 20.3% | 0.1% |
| American Bank and Trust Company National Association | $340,000 | n/a | 0.1% | |
| Citizens Equity First Credit Union (CEFCU) | $335,000 | n/a | 0.1% | |
| GSF Mortgage Corporation | $335,000 | n/a | 0.1% | |
| Union Home Mortgage Company | $115,000 | $330,000 | 187.0% | 0.1% |
| Direct Mortgage Loans | $325,000 | n/a | 0.1% | |
| Northpointe Bank | $325,000 | n/a | 0.1% | |
| Prosperity Home Mortgage LLC | $320,000 | n/a | 0.1% | |
| Magnolia Bank Incorporated | $315,000 | n/a | 0.1% | |
| Wyndham Capital Mortgage | $315,000 | n/a | 0.1% | |
| Nations Lending Corporation | $470,000 | $310,000 | -34.0% | 0.1% |
| Heartland Bank and Trust Co | $305,000 | n/a | 0.1% | |
| Meridian Bank | $305,000 | n/a | 0.1% | |
| Branch Banking And Trust Co | $300,000 | n/a | 0.0% | |
| DIAMOND RESIDENTIAL MTG CORP | $300,000 | n/a | 0.0% | |
| Ixonia Bank | $300,000 | n/a | 0.0% | |
| Baxter Credit Union | $290,000 | n/a | 0.0% | |
| COMMUNITY BANC MORTGAGE CORP | $285,000 | n/a | 0.0% | |
| UNITED COMMUNITY BANK | $280,000 | n/a | 0.0% | |
| Selfreliance Federal Credit Union | $275,000 | n/a | 0.0% | |
| University Lending Group LLC | $115,000 | $275,000 | 139.1% | 0.0% |
| Home State Bank National Association | $135,000 | $270,000 | 100.0% | 0.0% |
| Plains Commerce Bank | $270,000 | n/a | 0.0% | |
| Ottawa Savings Bank | $195,000 | $260,000 | 33.3% | 0.0% |
| Ruoff Home Mortgage | $260,000 | n/a | 0.0% | |
| AimLoan.com | $255,000 | n/a | 0.0% | |
| Catlin Bank | $255,000 | n/a | 0.0% | |
| Ipava State Bank | $255,000 | n/a | 0.0% | |
| Old Second National Bank | $245,000 | $255,000 | 4.1% | 0.0% |
| Credit Union 1 | $135,000 | $245,000 | 81.5% | 0.0% |
| Waterstone Mortgage Corp | $245,000 | n/a | 0.0% | |
| Citibank, N.A. | $115,000 | $240,000 | 108.7% | 0.0% |
| First Bank of Manhattan | $285,000 | $240,000 | -15.8% | 0.0% |
| Inland Bank and Trust | $2,580,000 | $235,000 | -90.9% | 0.0% |
| American Nationwide Mortgage Company | $855,000 | $225,000 | -73.7% | 0.0% |
| Guaranteed Rate Affinity LLC | $810,000 | $225,000 | -72.2% | 0.0% |
| Lake Michigan Credit Union | $225,000 | n/a | 0.0% | |
| top flite financial, inc. | $250,000 | $220,000 | -12.0% | 0.0% |
| Providence Bank & Trust | $215,000 | $215,000 | 0.0% | 0.0% |
| Triumph Bank | $225,000 | $215,000 | -4.4% | 0.0% |
| RF Renovo Management Company, LLC | $1,480,000 | $210,000 | -85.8% | 0.0% |
| Finance of America Mortgage LLC | $175,000 | $205,000 | 17.1% | 0.0% |
| Hallmark Home Mortgage LLC | $205,000 | n/a | 0.0% | |
| North American Savings Bank | $165,000 | $205,000 | 24.2% | 0.0% |
| Alliant Credit Union | $190,000 | n/a | 0.0% | |
| Associated Bank NA | $150,000 | $185,000 | 23.3% | 0.0% |
| FNBC Bank and Trust | $185,000 | n/a | 0.0% | |
| Intercontinental Capital Group, Inc. | $165,000 | $185,000 | 12.1% | 0.0% |
| Nationwide Mortgage Bankers Inc. | $185,000 | n/a | 0.0% | |
| Thrivent Federal Credit Union | $185,000 | n/a | 0.0% | |
| Verve a Credit Union | $185,000 | n/a | 0.0% | |
| Morton Community Bank | $295,000 | $175,000 | -40.7% | 0.0% |
| Prime Choice Funding, Inc. | $330,000 | $175,000 | -47.0% | 0.0% |
| Sovereign Lending Group, Inc | $390,000 | $175,000 | -55.1% | 0.0% |
| Alterra Group LLC dba Alterra Home Loans | $145,000 | $170,000 | 17.2% | 0.0% |
| SPRING EQ, LLC | $170,000 | n/a | 0.0% | |
| Frontier Financial, Inc. DBA Frontier Mortgage | $165,000 | n/a | 0.0% | |
| Midwest Loan Services Inc | $165,000 | n/a | 0.0% | |
| Network Capital Funding Corporation | $165,000 | n/a | 0.0% | |
| Residential Wholesale Mortgage | $165,000 | n/a | 0.0% | |
| Sirva Mortgage Inc. | $205,000 | $165,000 | -19.5% | 0.0% |
| TCF National Bank | $190,000 | $165,000 | -13.2% | 0.0% |
| US Mortgage of Florida | $165,000 | n/a | 0.0% | |
| Great Lakes Credit Union | $160,000 | n/a | 0.0% | |
| AMERIS BANK | $165,000 | $155,000 | -6.1% | 0.0% |
| Holcomb Bank | $155,000 | n/a | 0.0% | |
| Prairie State Bank & Trust | $155,000 | $155,000 | 0.0% | 0.0% |
| Bay Equity LLC | $570,000 | $145,000 | -74.6% | 0.0% |
| BELL BANK | $145,000 | n/a | 0.0% | |
| CBNA | $745,000 | $145,000 | -80.5% | 0.0% |
| Gershman Investment Corp. | $145,000 | n/a | 0.0% | |
| IAA CREDIT UNION | $145,000 | n/a | 0.0% | |
| Petefish Skiles & Co. Bank | $145,000 | n/a | 0.0% | |
| SoFi Lending Corp | $145,000 | n/a | 0.0% | |
| Cornerstone National Bank & Trust Company | $135,000 | n/a | 0.0% | |
| Illinois State Police Federal Credit Union | $155,000 | $135,000 | -12.9% | 0.0% |
| OakStar Bank | $135,000 | n/a | 0.0% | |
| Cascade Financial Services | $125,000 | n/a | 0.0% | |
| LendingOne LLC | $125,000 | n/a | 0.0% | |
| Mortgage Solutions of Colorado LLC | $125,000 | n/a | 0.0% | |
| State Financial Network LLC | $125,000 | n/a | 0.0% | |
| FedEx Employees Credit Association | $115,000 | n/a | 0.0% | |
| Liberty Home Mortgage Corp | $115,000 | n/a | 0.0% | |
| All Reverse Mortgage Inc | $105,000 | n/a | 0.0% | |
| Finance of America Reverse LLC | $215,000 | $105,000 | -51.2% | 0.0% |
| LendSure Mortgage Corp | $105,000 | n/a | 0.0% | |
| LIMA ONE CAPITAL, LLC | $105,000 | n/a | 0.0% | |
| Servion, Inc. | $250,000 | $105,000 | -58.0% | 0.0% |
| Towne Mortgage Company | $105,000 | n/a | 0.0% | |
| VanDyk Mortgage Corporation | $105,000 | n/a | 0.0% | |
| TIAA, FSB | $95,000 | n/a | 0.0% | |
| United Mortgage Corp | $95,000 | n/a | 0.0% | |
| Peoples Mortgage Company | $85,000 | n/a | 0.0% | |
| Land Home Financial Services Inc. | $75,000 | n/a | 0.0% | |
| Wings Financial Credit Union | $65,000 | n/a | 0.0% | |
| Healthcare Associates Credit Union | $225,000 | $55,000 | -75.6% | 0.0% |
| Quorum Federal Credit Union | $45,000 | n/a | 0.0% | |
| Dupaco Community Credit Union | $155,000 | $35,000 | -77.4% | 0.0% |
| Longbridge Financial, LLC | $35,000 | n/a | 0.0% | |
| Star USA Federal Credit Union | $35,000 | n/a | 0.0% | |
| COMMERCE BANK | $25,000 | n/a | 0.0% | |
| Digital Federal Credit Union | $185,000 | $25,000 | -86.5% | 0.0% |
KANKAKEE's top lender by overall market share is Municipal Trust and Savings Bank, with 10.2% market share. In second place, with 9.5%, is Peoples Bank of Kankakee County, having originated $57,390,000 in loans. In third place, with 8.7%, is Midland States Bank, having originated $52,770,000 in loans. In third place, with 6.4%, is National Bank of St Anne, having originated $38,915,000 in loans. In third place, with 6.2%, is Quicken Loans, having originated $37,855,000 in loans.
KANKAKEE, IL Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Refi | 1,638 | $283,620,000 | $173,150 |
| Home Purchase | 1,448 | $237,300,000 | $163,881 |
| Cash Out Refi | 482 | $74,830,000 | $155,249 |
| Other | 100 | $7,610,000 | $76,100 |
| Home Improvement | 70 | $3,530,000 | $50,429 |
Kankakee's most frequently cited loan purpose was Refi, with 1,638 originations. The 2nd most popular reason was Home Purchase, with 1,448 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1,202 | $190,840,000 | $158,769 |
| 2.5-3% | 854 | $151,040,000 | $176,862 |
| <2.5% | 216 | $32,840,000 | $152,037 |
| 4-5% | 180 | $25,260,000 | $140,333 |
| 5-6% | 37 | $2,185,000 | $59,054 |
| Over 8% | 30 | $1,490,000 | $49,667 |
| 6-7% | 23 | $1,205,000 | $52,391 |
| 7-8% | 9 | $345,000 | $38,333 |
During 2020, Kankakee's most frequently originated rate bucket was 3-4%, with 1,202 originations.
Loan Sizing (KANKAKEE, IL MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 1,920 | $282,210,000 | $146,984 |
| $100,000 or less | 890 | $55,740,000 | $62,629 |
| $200k-400k | 890 | $224,160,000 | $251,865 |
| $400k-600k | 23 | $10,165,000 | $441,957 |
| $Over $1MM | 10 | $30,930,000 | $3,093,000 |
| $600k-1000k | 5 | $3,685,000 | $737,000 |
KANKAKEE's loan sizing saw the bucket of loans from $100k-200k with 1,920 originations, totaling $282,210,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 1,274 | $220,770,000 | $173,289 |
| 60-80% | 719 | $125,105,000 | $173,999 |
| 40-60% | 184 | $21,810,000 | $118,533 |
| Under 20% | 127 | $2,805,000 | $22,087 |
| 20-40% | 90 | $5,720,000 | $63,556 |
| Over 100% | 23 | $5,405,000 | $235,000 |
KANKAKEE's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 1,274 originations, totaling $220,770,000 in origination value.